Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Equifax (EFX) CEO and chairman Richard Smith is retiring following the massive data breach that affected the personal information of 143 million people. Smith was at the helm of the credit reporting agency for 12 years. Paulino do Rego Barros, Jr., president of company’s Asia Pacific region, has been appointed interim CEO.
Darden Restaurants (DRI) shares were plunging in early trading after the owner of Olive Garden and other restaurant chains delivered weaker-than-expected same-store sales growth for last quarter. However, earnings matched expectations and revenue beat analysts’ estimates.
Nvidia (NVDA) shares are moving higher in early trading. The company announced it will supply its AI hardware to major tech giants, including Huawei and Lenovo. Nvidia’s CEO called AI “the most important technology development of our time.” The company also unveiled other products and partnerships that assist with self-driving cars, robots and cloud computing.
Alibaba (BABA) shares were in focus on Tuesday. The chinese e-commerce giant is paying just over $800 million for a majority stake in the unprofitable logistics firm Cainiao. Baba will own 51% of the company and a fourth board seat in the deal. It will also pour $15 billion into Cainiao over the next five years to expand its shipping network. Alibaba wants to fulfill orders on mainland China within 24 hours and within 72 hours globally.
The US government isn’t the only country trying to get ahold of Facebook’s (FB) data. Russia’s communications agency says it will block Facebook next year if the social network doesn’t store its data locally. Russian law requires foreign companies to store data in Russia, but critics of the law say the stored information could be exposed to Russian intelligence agencies.