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.
- Texas Instruments (TI) declined along with Analog Devices (ADI) after China launched an anti-dumping investigation for specific analog chips made in the US, which both companies produce. The Ministry of Commerce opened an anti-dumping probe relating to certain American-made analog IC chips and an anti-discrimination investigation into US moves against the Chinese chip sector.
- Hims & Hers Health (HIMS) shares are falling after FDA Commissioner Marty Makary said a widely watched TV commercial by the telehealth firm earlier this year breached the agency’s regulations. Makary in a JAMA Network Open article cited Hims’ Super Bowl ad that promotes its copycat obesity drug as an example of the industry’s misleading ads
- Warner Bros (WBD) is lower after its 50% rally amid questions about incoming regulatory hurdles. Reports of a potential acquisition by Paramount could be beneficial for Warner Bros. due to synergies between the companies and Paramount's strong financial position, according to Bloomberg Intelligence analyst Stephen Flynn.
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