On this episode of Stock Movers:
Nvidia (NVDA) shares fall after the Financial Times reported that China’s internet regulator has told the country’s biggest technology companies to stop buying Nvidia artificial intelligence chips and terminate their existing orders. The Cyberspace Administration of China informed companies including ByteDance and Alibaba this week to terminate their testing and orders of the RTX Pro 6000. BBC reports that Nvidia CEO Jensen Huang is “disappointed” and that he would be "patient" in response
General Mills (GIS) shares fall after 1Q adjusted EPS at 86 cents tops analyst estimates. Company cited a rise in cooking at home among value-conscious consumers struggling with inflation -- a lot of rice and beans. Sales in the important North America retail segment dropped 13% for the quarter to $2.6 billion, largely due to lower volume and divestiture of the yogurt business in that region
Eli Lilly (LLY) shares higher after Patients on Eli Lilly's experimental diabetes pill lost more weight and had better blood sugar control than those on an older, approved rival from Novo Nordisk. First head-to-head trial of the two drugs Patients given Eli Lilly's oral GLP-1 drug lost 8.2% of their body weight in 52 weeks versus 5.3% for Novo's drug. Doctors welcomed the results and say the tablet will make it possible to treat more patients because it’s easier to produce and to take, and may eventually be cheaper
See omnystudio.com/listener for privacy information.
