Lyft
The ride-share stock surged by an impressive 13%. This boost comes as riders will soon be able to use the Lyft app to hail robotaxis from Alphabet’s Waymo, with services expected to commence next year.
Walmart
The retail giant saw a 2% increase following a price target lift from Bank of America. Analyst Robert Ohmes highlighted Walmart’s emerging leadership in artificial intelligence within the retail sector as a key catalyst for this growth.
American Express
The credit card giant gained 2.7%, making it the best-performing stock in the Dow Jones Industrial Average. This uptick comes ahead of an anticipated Federal Reserve rate cut later in the day, boosting investor confidence.
Visa and Mastercard
Both companies also experienced higher trading volumes, reflecting a positive sentiment in the financial sector.
Roivant Sciences
The drugmaker saw an 11% increase after announcing positive Phase 3 trial results for its brepocitinib drug, aimed at treating specific immune and inflammatory diseases.
Nvidia
In contrast, the artificial intelligence chip darling dropped 3%. This decline followed a report from the Financial Times, which indicated that China’s internet regulator has banned major tech companies in the country from purchasing Nvidia’s AI chips. Shares of Advanced Micro Devices also fell by more than 1% in response to this news.
Alibaba
U.S.-listed shares of the Chinese e-commerce giant rose by 2.6% after state media reported that Alibaba secured a significant customer, China Unicom, for its artificial intelligence chips.
Baidu
The Chinese tech company surged by 7.7% following an upgrade from Arete Research Services, which raised Baidu’s American depositary receipts to “buy” from “sell.” The upgrade was based on a positive outlook for its AI chip and cloud-computing revenue.
Cytokinetics
The stock fell by more than 1% after the biopharmaceutical company announced plans to offer $650 million in convertible senior notes due in 2031.
Workday
Shares of the human resources software provider advanced by 8% after activist investor Elliott Management disclosed a $2 billion stake in the company, signaling strong investor interest.
Netflix
The streaming giant moved up by 1% following an upgrade to “buy” from “hold” at Loop Capital. The firm noted that Netflix has emerged victorious in the streaming wars, thanks to its robust content offerings and improved long-term margin assumptions.
Zillow Group
The stock climbed 4% after Bernstein upgraded it to “outperform” from “market perform.” The firm expressed a more favorable view on Zillow’s fundamental story, citing recent successful revenue growth execution.
— CNBC’s Sarah Min, Sean Conlon, Lisa Han, Alex Harring, and Michelle Fox Theobald contributed reporting.
