Business

Return of Nvidia, FedEx, Rivian and Volkswagen: 3 things

Nvidia (NVDA) rallied in Tuesday’s session, ending a three-day losing streak that dragged down the tech-heavy stock indexes (^DJI, ^IXIC, ^GSPC) with it.

Shares of FedEx (FDX) are jumping in premarket trading after beating fourth-quarter profit estimates and further revealing the success of the delivery company’s cost-cutting efforts.

Shares of Rivian (RIVN) are jumping after Volkswagen (VOW3.DE, VWAGY) announced a $5 billion investment in an electric vehicle joint venture.

For more expert insights and the latest market action, click here to watch this full episode of Morning Brief.

This message was written by Luke Carberry Mogan.

Video transcription

What you need to know this Wednesday morning as we prepare you for the trading day we have Yahoo Finance, J Madison Mills and Superman with more on video against the chipmaker staging a comeback after ending his three-day losing streak.

The vi at the trading sessions.

They touted video as the most valuable company in the world and racked up a loss of over $430 billion in market capitalization. Shares rose on the back of their fourth-quarter results. Fedex’s earnings beat on both the top and bottom line.

But what’s actually driving the stock higher are the company’s cost-cutting efforts.

The company says it is on track to meet its $4 billion cost reduction target and expects another $2 billion to consolidate its air and ground services.

But it also announces plans to buy back up to $2.5 billion in shares this year 2025 and Rivian shares jumped in premarket trading after EV Maker Inc struck a big joint venture deal with Volkswagen, the pair will create new electric vehicles using Rivian technology that will underpin both companies and next-generation electric vehicles, in exchange VW will invest $1 billion in the GVJV, with up to $4 billion in additional capital in the framework of the agreement.

Today, Rivian stock is up more than 30% premarket, but down nearly 50% year to date.

News Source : finance.yahoo.com
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