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Nvidia China Ban; New Fortress Soars; Workday Upgrade
Description
On this episode of Stock Movers:
- Nvidia (NVDA) is lower after China’s internet watchdog has instructed companies including Alibaba and ByteDance to terminate orders for Nvidia’s RTX Pro 6000D, the Financial Times reported. The Cyberspace Administration of China told companies to stop testing the chip and cancel existing orders, according to the FT.
- New Fortress Energy (NFE) shares are soaring, set to extend Tuesday’s record 45% rally, after billionaire Wes Edens’ firm finalized a seven-year deal worth $4 billion to supply liquefied natural gas to Puerto Rico.
- Workday (WDAY) shares are rising in the wake of an analyst day event that prompted at least two upgrades. In addition, Elliott Investment Management says the human-resources software company has made substantial progress in recent years, and called the plan announced at the event a significant enhancement of the company’s operating model and capital allocation framework.
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