On this episode of Stock Movers:
- Nvidia (NVDA) shares are lower after China ruled the company violated anti-monopoly laws with its 2020 deal to acquire Mellanox Technologies. The State Administration for Market Regulation found Nvidia in violation of antitrust regulations after concluding a preliminary investigation.
- Tesla (TSLA) shares are higher after CEO Elon Musk purchased about $1 billion worth of the carmaker’s shares, according to a regulatory filing. The billionaire bought the stock indirectly through a trust on Sept. 12, the filing shows. The purchases coincided with Tesla Chair Robyn Denholm speaking with Bloomberg News about the merits of a pay package for Musk that could be worth upwards of $1 trillion if the company achieves a series of ambitious milestones linked to market value and performance.
- Intel (INTC) lowered its 2025 expense target following the closing of its $3.3b equity value sale of its Altera stake to Silver Lake.