Nvidia comeback, FedEx, Rivian and Volkswagen: 3 Things

Nvidia (NVDA) rallied in Tuesday's session, snapping a three-day losing streak that dragged tech-heavy market indexes (^DJI, ^IXIC, ^GSPC) down along with it.

FedEx (FDX) shares are jumping in pre-market trading after beating fiscal fourth-quarter earnings estimates and opening up more about the success of the delivery company's cost-cutting efforts.

Rivian (RIVN) stock surges after Volkswagen (VOW3.DE, VWAGY) announced a $5 billion investment into a joint EV venture.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

Things that you need to know this Wednesday morning as we prep you for the trading day, we've got Yahoo Finance is J Madison Mills and Superman with more in video strikes back the chip maker staging a comeback after snapping its three day losing streak.

The vi to trading sessions.

They had thrown in video as the world's most valuable company and accumulated a loss over $430 billion in market cap shares are moving higher on the back of its fourth quarter results fedex earnings beating on both the top and bottom line.

But what's moving the stock higher is actually the company's cost cutting efforts.

The firm saying it's on track to achieve its $4 billion cost cutting goal and expect an additional $2 billion to consolidate its air and ground services.

But it's also announcing plans to repurchase up to $2.5 billion worth of shares this year 2025 and Rivian shares surging in pre market trading after the EV Maker Inc a big joint venture deal with Volkswagen, the pair will create new evs using Rivian technology that will underpin both companies and next Gen EVs in exchange VW will make a $1 billion investment in the GVJV with up to 4 billion in additional capital coming as part of the deal.

Now, Rivian stock is up more than 30% in pre market but down nearly 50% year to date.