1.Nvidia (NVDA)
Nvidia was up almost 4% in Tuesday’s trading session after the regulatory paperwork revealed that Huang, the firm’s CEO, has completed the dumping process on the planned selling of over $700m (£523m) of the company’s stock.
Huang had revealed in early this year its intention to offload up to 6 million Nvidia shares by the first quarter of 2025. The plans existed under the Security and Exchange Commission’s 10b5-1, which enables insiders to sell stocks in a systematic manner.
According to the most recent filing with the regulators, Huang had achieved his target on these plans on September 12, earlier than projected.
In another filing, it revealed that after the sales, Huang still possesses approximately 75.4 million Nvidia shares, and another 786 million via trusts and a partnership.
Although Nvidia share price has been rather more erratic in the recent past, the stock is still 144% up year to date being among the firms leading the AI revolution.
2.Rightmove (RMV.L)
Shares in UK property portal Rightmove changed very little yesterday morning, after it was revealed that it had turned down a third bid of £6.1bn from Rupert Murdoch’s REA Group.
Rightmove stated that the board of directors still considers this latest bid as ‘unattractive’ stating that it ‘materially undervalues Rightmove and its prospects’. It went further saying the bid was “unanimously” turned down by the board which admitted it had received the bid.
To this end, Australian property firm REA, which is majority-owned by Murdoch’s News Corp,took offense and said it was “disappointed by the latest rejection … and is frustrated that, save for the rejection of REA’s three previously disclosed proposals, REA has still had no substantive engagement with Rightmove”.
REA encouraged Rightmove board to speak to the Australian firm but clarified that “further offer may be made to Shareholders or that any transaction will go ahead”.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: Rightmove is being coy and Rupert Murdoch’s REA Group is going to need to step up its game once again if it wants a prayer of convincing the board to surrender to a takeover bid.
“Given the plans to deliver 1.5m new homes, the expectations of interest rate cuts and the revival of the housing market, Rightmove must clearly see substantial growth possibilities in the future,” she said.
3.Visa (V)
Traders removed more than 5% value from Visa stock in the early Tuesday trading after the DoJ filed a law suit against the company, stating that it had formed an improper monopoly in the debit card fracast industry and was actuating competition.
According to the DoJ, Visa has been engaging in retaining exclusive control over debit network markets by actively preventing any current and aspiring competitors from expanding on what already exists, and by actively precluding innovation.
In an interview with Yahoo Finance, Visa’s general counsel Julie Rottenberg said that anyone that has made ‘a purchase online or swiped a card at a physical store’ understands that ‘there is a seemingly unending array of new players offering solutions for buying things.
Today’s lawsuit fails to consider the notion that Visa is simply one of many players in the debit field which is competitive, with other entrants who are successful. “This lawsuit is groundless and we are prepared to fight it vigorously.”
Visa dominates the most substantial debit card processing services in the United States processing of over 60% of debit cards used in the country.
4.Intel (INTC)
Shares in the semiconductor business Intel rose 1% on Tuesday following the launch of two new AI chips in a bid to rival AMD (AMD) and Nvidia.
Meant for cloud data centers, the new Xeon 6 cpu and Gaudi 3 AI accelerator chips, are designed for better performance with less power consumption.
Intel shares were already moving up with news that its rival Qualcomm (QCOM) had initiated a bid on the chip maker.
Moreover, Bloomberg referred that Apollo Global Management that owns Yahoo has pledged to invest up to $5bn in Intel.
This comes after a difficult year for Intel, which the company recently revealed its intention to dismiss over 15,000 employees. It also fell short of estimate of the second-quarter sales, gross profit margin and earning on the chipmaker.
5.JD.com (JD)
Shares of US firms with links to China’s e-commerce market rose on Tuesday, such as JD.com, an online retailer, because China a CN implemented a set of fiscal stimulus measures.
The Nasdaq (^IXIC) listed shares in JD.com closed Tuesday’s trading session with an almost 14% gain.
The People’s Bank of China said it would pump out the largest amount of stimulus since the Covid recession, increase financing, and lower interest rates. This including refinancing, meaning the reduction of the interest rate on existent mortgages by 0.5%.
Alibaba stock and other Chinese e-commerce stocks also rose in response to the news: New York-listed Alibaba Corp. (BABA) and Pinduoduo Inc. (PDD) were up 8 percent and 11 percent, respectively.
Lindsay James, investment strategist at Quilter Investors, said: ‘While this package of measures will certainly be welcomed, China’s problems cannot be solved as easy as setting the right level of interest rates.’
“The big picture for the world economy such as the consumer confidence that is correlate with severely broken property market, excessive manufacturing capacity, diminishing economy and business openness, higher trade restrictions are till date offering significant largely untouched.”
References:
- https://uk.finance.yahoo.com/news/nvidia-rightmove-visa-intel-jdcom-trending-tickers-094641645.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEnc4JZ9pWzotqKKr2Csb-a7-If4wWWoNyVQJ_cCyh6Y3_LZKu_scQfVqxzpxPWylY4YlEh79AGSlLw_P1nCToyCaqFKfBce8E3102gjngkflBBexzBk26EkarvbFERKvLM6vf4r5Cx0ljzv69SkLzWZbxJ_77M_jCpeDyEaV4-m
- https://www.aol.co.uk/news/trending-tickers-nvidia-rightmove-visa-094641723.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAGWiJ1u3CBqGlWyQaWEy6dZv3gZYqrmVW1Cd9oIhLSAt9LYWpJsQKtmjnT6ypqHu2laWuZqTdmZHV61OTA3OhuOYby80Pzun0FjndH2mrbOsPuy1O37n0qNkRe5Ef-Fp7nFJx9W555MorTPGiUTzmViqxCwmgoImOtFNjjXYMver
- Also Read:https://thenewzzy.com/the-evolution-of-technology-in-our-world-history/
