Nvidia Up on Share-Repurchase Program; Mining Stocks Slide | Stock Movers

AI Summary

Nvidia shares rose after its board authorized an additional $150 billion for share repurchases, bringing the remaining authorization to $235 billion. Northern Star Resources rejected Gold Fields’ A$38.7 billion takeover proposal as undervaluing the company, while Jefferies downgraded Roblox shares amid concerns about bookings growth.

On this episode of Stock Movers: - Nvidia (NVDA) shares are up after the board of the leader in AI chips authorized an additional $150 billion under the company’s existing share-repurchase program. The move increases the total remaining amount authorized to $235 billion. - Australia’s Northern Star Resources Ltd. rejected a takeover approach from South African rival Gold Fields Ltd. that could have created the second-largest gold miner, saying the A$38.7 billion ($27.1 billion) cash-and-shares offer undervalued its business. - Roblox (RBLX) was cut to underperform from hold at Jefferies, which said the stock’s 30% rally since the gaming company’s second-quarter results in July reflects an overly optimistic view of bookings for the next 12 months. (Source: Bloomberg)