Today’s Stocks to Watch: Trump Media, Nvidia, and Apple
Key points:
- Trump Media shares dropped over 20% in the past week
- Nvidia will replace Intel in the Dow Jones this week
- Viking Therapeutics surged more than 20% following promising trial results
Trump Media & Technology (DJT) Sees Volatility with a 20% Drop
Trump Media & Technology: The parent company of Donald Trump’s social media platform has experienced high volatility in recent weeks, trading as a proxy for election expectations. Shares were down in pre-market trading Monday, having lost over 20% of their valuation in the past week.
Nvidia (NVDA) Replaces Intel (INTC) on the Dow Jones
Nvidia: The chipmaker will join the Dow Jones Industrial Average this week, replacing Intel. Paint manufacturer Sherwin-Williams will also replace Dow Inc. The changes take effect before the market opens on Friday. Nvidia and Sherwin-Williams stocks rose in pre-market trading, while Intel and Dow stocks declined.
Viking Therapeutics (VKTX) Rises on Promising Results
Viking Therapeutics: Shares jumped over 20% after the biotech company reported encouraging results from a trial of its experimental anti-obesity pill. If successful, the pill could compete with injectable drugs from Novo Nordisk and Eli Lilly. Novo shares declined in Denmark, while Eli Lilly shares were down in U.S. pre-market trading.
Berkshire Hathaway Cuts Stake in Apple (AAPL) and Reduces Holdings in Bank of America (BAC)
Apple: Warren Buffett-owned Berkshire Hathaway cut its stake in Apple by about 25% last quarter, the conglomerate’s report revealed. However, Berkshire remained the iPhone maker’s largest shareholder, Berkshire also reduced its position in Bank of America the previous quarter and continued to sell it in October. It now owns less than 10%.
Boeing (BA) Faces Crucial Union Vote
Boeing: The aircraft builder’s machinists’ union will vote Monday on a labor agreement that, if accepted, would end a debilitating multi-week strike.
Li Auto (LI) and XPeng (XPEV) Rise Following Strong Sales
Li Auto and XPeng: The Chinese electric vehicle makers reported strong October sales, boosting their Hong Kong-listed shares.
The New York Times (NYT) Prepares for Potential Technical Staff Strike
The New York Times: The newspaper’s dispute with its technology staff is reaching a critical point, with a potential strike that could impact election coverage. Quarterly earnings are set to be released early Monday.
B. Riley Financial (RILY) Declines After Franchise Group Bankruptcy
B. Riley Financial: The investment firm, a major stakeholder in Franchise Group, saw its shares drop nearly 18% in pre-market trading following Franchise Group’s bankruptcy filing on Sunday amid a federal investigation.