Closing Bell: Big Tech Rallies, Skydance Reports, Nvidia Plunges on CEO's Spy Scandal

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Scarlet Fu, Vonnie Quinn, Carol Massar and Tim Stenovec.

• A renewed wave of dip buying lifted stocks in the wake of a technology selloff that had recently roiled Wall Street. Shares of tech giants like Apple (AAPL), Amazon (AMZN), Google parent Alphabet (GOOG), and Meta (META) all saw shares trade higher. Shares of chipmaker AMD (AMD) also rallied after an upgrade from Oppenheimer. 
• Skydance (SKYD) reported its first quarterly earnings since its major merger of Paramount and Warner Bros. Discovery. One headline that drew attention from investors and fans of streaming services alike was that the company announced it would release a streaming bundle that includes both the Paramount+ and HBO Max services early next year, in one of the first signs of potential business opportunities coming from its big merger with Warner Bros. Discovery Inc. Shares of Skydance fell in extended trading in New York.
• Nvidia (NVDA), the world’s second-most valuable company and the US chipmaker at the heart of the global AI industry, is facing a crisis like none other in its three-decade history. On Nov. 8, Chief Executive Officer Jensen Huang admitted he had been unfaithful in his marriage, effectively confirming a series of reports linking him romantically with a woman who has been identified as a suspected Chinese spy and whose company bought chips from Nvidia. Nvidia shares slid as much as 8.8% on Monday, at one point erasing nearly $400 billion in market valuation, after Huang disclosed the romantic relationship Sunday in a memo to employees.

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