Nvidia Falls and Google Rises on Meta Spend, Kohl's Higher, Abercrombie & Fitch Soars
On this episode of Stock Movers:
- Nvidia (NVDA) shares fall after news that Meta Platforms is in talks to spend billions on Google’s AI chips, adding to a monthslong share rally as the search giant has made the case it can rival Nvidia Corp. as a leader in artificial intelligence technology. Alphabet (GOOGL) is rising on the news.
- Kohl's (KSS) shares rise after positive earnings and news that it promoted interim Chief Executive Officer Michael Bender to the role on a permanent basis as the US retailer tries to move past a period of management turmoil and slumping sales.
- Abercrombie & Finch (ANF) shares jump by 35% after the company raised the low end of its full-year sales outlook as its Hollister brand continued to gain momentum. Net sales will grow 6% to 7% this year, up from the retailer’s previous outlook for at least a 5% gain. Sales at Hollister jumped 16%, helped by strong strong back-to-school demand, the company said in a statement.
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