Nvidia Hits $5 Trillion, Fiserv Plunges, Verizon Rises Sespite Drop in Customers
On this episode of Stock Movers:
- Nvidia (NVDA) achieved a historic $5 trillion market capitalization as Chief Executive Officer Jensen Huang’s spree of deals catapults the artificial intelligence frenzy to new heights. The company's shares rallied as much as 5.2% to $211.47, propelling Nvidia over the milestone, with Wall Street analysts overwhelmingly bullish on the firm's future prospects.
- Fiserv (FI) shares of payments-related companies slid Wednesday, tracking Fiserv lower after it reported earnings that fell well below expectations and slashed its outlook. Fiserv shares plunged by a record 47%.
- Verizon (VZ) reported gains in revenue and profit in the third quarter as new chief executive officer Dan Schulman laid out an aggressive growth strategy. Verizon shares rose 3.4% in premarket trading after the company reported operating revenue of $33.8 billion and earnings of $1.21 a share, excluding some costs. The company reported a drop of 7,000 consumer mobile phone customers, but added 306,000 broadband customers in the third quarter, with a new partnership to expand its broadband footprint beyond its Fios network.
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