Nvidia Falls, Hertz Jumps, United Airlines Higher on Dual Forecasts
On this episode of Stock Movers:
- Nvidia (NVDA) shares fall after President Donald Trump’s administration banned the chip giant from selling its H20 chip in China. The firm warns it will report about $5.5 billion in writedowns during the current quarter, tied to inventory and commitments for the chip.
- Hertz (HTZ) shares soar after Pershing Square Capital Management revealed a large stake in the beleaguered car rental company. Bill Ackman’s investment firm bought 12.7 million shares valued at about $46.5 million at the time of the purchase, according to a filing Wednesday, making it one of Hertz’s largest shareholders.
- United Airlines (UAL) shares are higher after it provided two possible earnings scenarios, expecting an adjusted profit of $11.50 to $13.50 a share if the current environment remains stable, and $7 a share if the US economy enters a recession.
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