Stock Movers: Nvidia, Meta, Hershey

Bloomberg

2 days ago

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 Romaine Bostick, Caroline Hyde, Carol Massar and Tim Stenovec. - Nvidia (NVDA) shares rose after it became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market. The stock has risen more than 20% in 2025, and is up more than 1,000% since the beginning of 2023. Nvidia now accounts for 7.5% of the S&P 500 Index, near its highest influence on record. The latest catalyst for the stock has been a commitment to AI spending from Nvidia's biggest customers, showing that demand for its computing systems remains strong. This includes tech giants Microsoft, Meta Platforms, Amazon.com and Alphabet, who are projected to put about $350 billion into capital expenditures in their upcoming fiscal years, up from $310 billion in the current year, according to the average of analyst estimates compiled by Bloomberg. Those companies account for more than 40% of Nvidia's revenue. - Meta Platforms (META) bought a minority stake in the world's largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant's commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Facebook parent Meta acquired just under 3% of the Ray-Ban maker, a stake worth around €3 billion ($3.5 billion) at market prices, said the people, who asked not to be identified because deliberations are private. Meta, based in Menlo Park, California, is considering further investment that could build the stake to around 5% over time, the people added, though those plans could change. Shares closed higher. - Hershey (HSY) shares tumbled as chocolate makers struggle due to a shortage in cocoa. Chocolate makers were already grappling with record prices for cocoa butter, which provides that melt-in-your-mouth feel. Now they are also paying up for the powder that lends their product its color and taste. Cocoa powder, used in everything from baking mixes to protein shakes, is now in short supply too. Prices for the key ingredient, produced when cocoa beans are ground, surged about 16% in the US over the past year, and are now trading near a record.