Trending tickers: Nvidia, Rightmove, Visa, Intel and JD.com

Vicky McKeever

Shares in chipmaker Nvidia climbed nearly 4% in Tuesday's session, after regulatory filings showed that the company's CEO Jensen Huang had finished the planned sale of more than $700m (£523m) of the firm's shares.

Huang had disclosed plans earlier this year to sell up to 6 million Nvidia shares by the end of the first quarter of 2025. The plans came under the Securities and Exchange Commission's (SEC's) 10b5-1, which allows insiders to sell shares in a planned structure.

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The latest regulatory filing showed that Huang had hit his target on these plans earlier than expected on 12 September.

A separate filing showed that following the sales Huang still held nearly 75.4 million Nvidia shares and a further 786 million shares via trusts and a partnership.

While Nvidia's share price has seen some volatility more recently, the stock is still up 144% year-to-date as one of the companies powering the artificial intelligence (AI) boom.

UK property portal Rightmove saw little movement on Wednesday morning, following the news that it had rejected a third bid of £6.1bn from Rupert Murdoch's REA Group.

Rightmove said its board still viewed this latest offer as "unattractive" and believed it "materially undervalues the company and its future prospects". As a result, it said the board "unanimously" rejected the bid.

In response, Australian property firm REA, which is majority-owned by Murdoch's News Corp, said it was "disappointed by the latest rejection ... and is frustrated that, save for the rejection of REA's three previously disclosed proposals, REA has still had no substantive engagement with Rightmove".

REA urged Rightmove's board to engage with the Australian firm but added that there was "no certainty" another offer would be made to shareholders or that "any transaction will proceed".

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Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Rightmove is playing hard to get and Rupert Murdoch’s REA Group is going to have to up its game again if it has a chance of winning over the board to accept a takeover offer."

"With the UK government pledging to build 1.5 million new homes, interest rate cuts eyed and the property market springing into life again, Rightmove clearly sees significant growth opportunities ahead," she added.

Shares in Visa dropped by more than 5% in Tuesday's session, on the back of the news that the US Department of Justice (DoJ) had sued the company, alleging it had created an illegal monopoly in the debit card business and was stifling competition.

The DoJ claimed Visa "illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives."

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Visa’s general counsel Julie Rottenberg told Yahoo Finance that anyone "who has bought something online, or checked out at a store, knows there is an ever-expanding universe of companies offering new ways to pay for goods and services.

"Today's lawsuit ignores the reality that Visa is just one of many competitors in a debit space that is growing, with entrants who are thriving ... This lawsuit is meritless, and we will defend ourselves vigorously.”

Visa controls the largest debit card processing network in the US, processing more than 60% of the nation's debit card transactions.

Semiconductor company Intel moved 1% higher on Tuesday, after it launched a pair of AI chips, as it looks to compete with rivals AMD (AMD) and Nvidia.

The new Xeon 6 CPU and Gaudi 3 AI accelerator chips promise better performance and power efficiency.

Intel shares were already on the rise following reports that rival Qualcomm (QCOM) had approached the company about a possible takeover.

In addition, Bloomberg reported that Apollo Global Management — which owns Yahoo — has offered to invest as much as $5bn (£3.8bn) in Intel.

This comes after a challenging period for Intel, having announced plans to layoff 15,000 employees. The chipmaker also missed second-quarter estimates on sales, gross profit margins and earnings.

US stocks tied to Chinese e-commerce soared on Tuesday, including online retailer JD.com, after China launched a raft of stimulus measures.

Shares in JD.com, which is listed on the Nasdaq (^IXIC), closed Tuesday's session nearly 14% higher.

China's central bank announced its biggest stimulus since the pandemic, which included more funding and interest rate cuts. This including reducing the interest rate on existing mortgages by 0.5%.

Other Chinese e-commerce stocks also rallied on the news, including the New York-listed shares of Alibaba (BABA) and Pinduoduo (PDD), which were up 8% and 11% respectively.

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Lindsay James, investment strategist at Quilter Investors, said: "Whilst this package of measures will certainly be welcomed, China’s problems cannot be resolved as easily as setting an appropriate level of interest rates.

"The bigger issues of weak consumer confidence linked to the deeply fractured property market, manufacturing overcapacity, reducing economic and business transparency and trade barriers continue as yet unchallenged."

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