Stock Market Movers in 2025: Nvidia Earnings, Walmart's $2.3B Vizio Deal & Discover's $35.3B Acquisition

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Highlights from the Market

• The U.S. stock market opened the shortened trading week lower on February 20, 2024, with technology shares experiencing notable declines.
• Nvidia's stock dipped as investors anticipated the company's upcoming earnings report scheduled for release tomorrow.
• Capital One Financial announced its acquisition of Discover Financial Services for $35.3 billion, triggering a surge in Discover's stock price.

On February 20, 2024, U.S. equities declined midday, marking a challenging start to the brief trading week. The Nasdaq Composite fell over 1%, while both the Dow Jones Industrial Average and S&P 500 also posted losses.

Nvidia (NVDA) shares dropped as investors positioned themselves ahead of the chipmaker's earnings announcement expected tomorrow.

Albemarle (ALB), the leading global lithium producer, saw its shares fall after lowering its lithium demand forecast in response to a slowdown in electric vehicle sales, impacting battery material needs.

Shares of Discover Financial Services (DFS) surged dramatically following Capital One Financial's (COF) $35.3 billion bid to acquire the credit card company. Capital One's shares also rose on the news.

Walmart (WMT) shares climbed after the retail giant revealed plans to acquire electronics manufacturer Vizio (VZIO) for $2.3 billion, sending Vizio's stock sharply higher.

Medtronic (MDT) shares increased after the medical device company surpassed profit and sales expectations, raising its guidance based on strong demand for heart and diabetes care products.

Meanwhile, oil futures declined, gold prices increased, and the 10-year U.S. Treasury yield fell. The U.S. dollar weakened against the euro, British pound, and Japanese yen. Most major cryptocurrencies traded lower.

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