Stock Movers

On this episode of Stock Movers:- Citigroup (C) shares rose to the highest level since 2008 after the bank said it would ramp up stock buybacks following a strong result in regulatory stress tests. The company plans to repurchase at least $4 billion of shares this quarter, Chief Financial Officer Mark Mason said Tuesday on a call with analysts. That’s more than the $3.75 billion the firm bought back in the entire first half of the year, and the plans helped push the stock past $90 for the first time since the financial crisis.- Nvidia (NVDA) shares surged today after the chipmaker along with Advanced Micro Devices (AMD) plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions. US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, the company said in a blog post on Monday — a move that may add billions to Nvidia’s revenue this year, restoring its ability to fulfill orders it had written off as lost due to government restrictions. Nvidia designed the less-advanced H20 chip to comply with earlier China trade curbs from Washington, which Trump’s team tightened in April to block H20 sales to the Asian country without a US permit.- MP Materials (MP), the rare-earths producer that last week secured backing from the Pentagon, soared in pre-market trading on a report that it reached a deal to supply Apple Inc. The shares jumped as much as 14% to $55.39 after Fox Business said Apple is set to announce a $500 million deal with MP for rare-earth magnets from the company’s Texas facility, citing people familiar with the matter. Apple and MP Materials didn’t immediately respond to requests for comment outside of normal business hours in the US.See omnystudio.com/listener for privacy information.

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Emily Graffeo, and Tim Stenovec.On this episode of Stock Movers:- Nvidia (NVDA) notched record highs after the close, after news that the company, along with AMD, plan to resume sales of some AI chips in China after securing Washington's assurances that such shipments would get approved. US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, and AMD received similar assurances from the US Commerce Department for its MI308 chips. The move is seen as a win for Nvidia's Chief Executive Officer Jensen Huang, who has branded US chip curbs a "failure", and is expected to add billions to Nvidia's revenue this year, according to the company.- Citigroup (C) shares closed up 3.7%, the highest level since 2008 after the bank said it would ramp up stock buybacks following a strong result in regulatory stress tests. The company plans to repurchase at least $4 billion of shares this quarter, Chief Financial Officer Mark Mason said Tuesday on a call with analysts. That’s more than the $3.75 billion the firm bought back in the entire first half of the year, and the plans helped push the stock past $90 for the first time since the financial crisis.- Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts’ estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank’s markets business.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Newmont (NEM) shares plunged following the resignation of the company’s chief financial officer. Shares of the world’s top gold producer fell as much as 8.9% on Tuesday in New York, marking the biggest drop since April. The slump followed Newmont’s post-market announcement Monday that CFO Karyn Ovelmen tendered her resignation last week. The company didn’t disclose the reason for her departure. Chief Legal Officer Peter Wexler will serve as interim CFO until a permanent successor is hired, the company said. - Trade Desk (TTD) shares jump after S&P Dow Jones Indices said the advertising technology company will join the S&P 500 Index before trading opens on July 18.. Evercore ISI analyst Mark Mahaney says the inclusion is “additional confirmation of TTD’s very impressive fundamentals” and additional confirmation of the “centrality” of the Internet Sector- Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts’ estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank’s markets business.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- AMD (AMD) shares gain after news that Nvidia and Advanced Micro Devices plan to resume sales of some AI chips in China after securing Washington's assurances that such shipments would get approved.- BlackRock (BLK) shares fall. This comes after the firm pulled in $46 billion to its investment funds, and assets hit a record $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies.- Uber (UBER) shares are down. Uber plans to team up with Baidu to launch robotaxis on the ride-sharing platform in several markets outside of the US and mainland China through a multiyear partnership.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Nvidia (NVDA) shares rise after US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, according to a blog post. - Citigroup (C) shares gain after revenue from the bank’s fixed-income trading business soared 20% to $4.3 billion versus $3.9 billion; stock traders raked in $1.6 billion.- Wells Fargo (WFC) shares drop after the bank reported 2Q net interest income at $11.7 billion, just short of analyst estimates. The bank also lowered its full-year net interest income growth target to little changed from last year.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.- Citi (C) shares are higher as traders had their best second quarter in five years, with revenue buoyed by record trading volumes in the quarter. Citigroup CEO Jane Fraser said, "We're improving the performance of each of our businesses to take share and drive higher returns," in a statement.- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Britain’s biggest housebuilder Barratt Redrow Plc saw its annual sales fall short of previous guidance after weaker demand for its London homes, sending its share price plunging. The developer sold 16,565 homes in the year through June 29, despite saying in April it expected to sell between 16,800 and 17,200 units, according to a statement Tuesday. Barratt Redrow said this was mainly due to “fewer international and investor completions than expected” in its London businesses. The company’s share price fell as much as 13% in early trading, the most since September 2022 in the aftermath of former Prime Minister Liz Truss’s mini budget.- B&M European Value Retail shares plunge as much as 14%, hitting their lowest level on record, after posting weaker topline growth than anticipated in the first quarter despite weak comparatives and favorable weather. Analysts note that this is the first formal update under CEO Tjeerd Jegen, with the focus at today’s call on how he aims to improve growth.- Orsted climbs as much as 6.4% after Morgan Stanley upgrades the Danish offshore wind developer to overweight from equal-weight, saying in note that an improving risk/reward makes it “worth a fresh look”. Analyst Rob Pulleyn says risks on legacy US projects are now declining, while renewables are “at the turning of the cycle”.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Waters Corp. (WAT) shares fell after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions in a Reverse Morris Trust transaction valued at about $17.5 billion.- Autodesk (ADSK) shares rose after the company is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said, which would have ranked as one of the year’s largest deals. The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC, according to the people, who asked not to be identified discussing confidential information.- Palantir (PLTR) shares hit record highs after President Trump is set to announce $70 billion in artificial intelligence and energy investments in Pennsylvania on Tuesday, the latest push from the White House to speed up development of the emerging technology. Trump is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. There has also been 13F filings that show Gateway Investment Advisers boosted its stake in Palantir in the June 30 quarter.See omnystudio.com/listener for privacy information.

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Norah Mulinda and Tim Stenovec. On this episode of Stock Movers: - Fastenal (FAST) shares were 4% higher at the close after the company posted earnings in line with estimates this morning. Analysts see the slightly better-than-expected June earnings as an encouraging sign amid tariff uncertainty. Fastinal CEO Daniel Florness says it is difficult to move manufacturing fully back to the United States and is seeing "limited" signs its customers are shifting manufacturing back to the US. - Warner Brothers Discovery (WBD) shares were up 2% after Superman ticket sales beat expectations, bringing in $125 million domestically and $220 million worldwide, according to a statement from Warner Brothers. Superman is the opening chapter in a 10-year plan to interweave movies and TV shows based on DC comic-book characters such as Batman and Wonder Woman. - Waters (WAT) shares dropped as much as 10%, the most intraday since January 2023, after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions business in a Reverse Morris Trust transaction valued at about $17.5 billion. Jefferies says the deal adds “variables” to Waters’ “clean” story.  The stock is down 18% year-to-date.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers: - Alcoholic beverage stocks are tumbling on Monday after President Donald Trump declared a 30% tariff rate for Mexico and the European Union, key markets for drinksmakers. Constellation Brands (STZ), maker of Modelo and Corona, drops as much as 5.1%, the most intraday since early February. Citi analyst Filippo Falorni notes 100% of STZ’s beer portfolio is brewed in Mexico, while Jack Daniel’s maker BF/B exports its American whiskey products overseas, which could be at risk from retaliatory tariffs from the EU. - Coinbase (COIN) rallied after Bitcoin reached an all-time high of 120,000. The Crypto exchange joined the S&P 500 a few months ago. The stock is benefitting from the US House of Representatives' "Crypto Week," with the prospect of a clear US regulatory framework bolstering confidence in the asset class among institutional investors. - Rocket Lab (RKLB) reached a record high after Citi raised its price target on the stock. The increased price target comes as Citi shifts its valuation methodology to the company’s revenue potential in 2029 from 2027. Rocket Lab recently awarded a contract to Bollinger Shipyards to support the buildout of the ocean landing platform for its Neutron reusable rocket. Movement has also been seen in the stock over the past few weeks as Trump threatened to pull SpaceX contracts.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.- Boeing (BA) shares edge higher after India's civil aviation authority ordered an inspection of cockpit fuel switches on Boeing Co. 737 and 787 aircraft operating in the country.- Best Buy (BBY) shares fall after Piper Sandler downgraded the electronics retailer to neutral from overweight.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.- Autodesk (ADSK) shares gain after the company said it is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said. This would have ranked as one of the year’s largest deals.- Kenvue (KVUE) shares are up after the company said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Coinbase (COIN) share are gaining after Argus Research Corp initiated coverage of the stock with a recommendation of buy and a $400 price target. The stock has 20 analyst buy, 16 hold and four sell ratings with an average price target of $315, according to data compiled by Bloomberg; shares are up 56% year-to-date.- Kenvue (KVUE) is moving after it said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands. Board director Kirk Perry will take over as interim CEO, effective immediately, and the company has commenced a search for a new CEO. The company's board chair Larry Merlo said "The board’s strategic review is underway, and we are considering a broad range of potential alternatives, including ways to simplify the Company’s portfolio and how it operates"- Tesla (TSLA) shares are moving amid continued tension between Elon Musk and President Trump. Other news items traders are watching include Chinese rival BYD planning to ramp up its expansion efforts in Saudi Arabia, building on momentum from Tesla Inc.’s launch in the country. Tesla will also stand trial over claims that the company is partly to blame for a fatal 2019 crash in Florida that occurred when the Autopilot system in a Model S allegedly failed to detect a parked SUV.- Synopsis (SNPS) is moving this morning and at one point was the biggest upside mover in early trading. The company secured China's approval to buy out Ansys Inc. for $35 billion, according to Bloomberg. The buyout was already approved by European and US authorities, and Synopsys has now cleared one of the last major hurdles to a deal intended to shore up its market position.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Diageo (DEO) shares are lower this morning due to the company's exposure to Mexico after President Trump announced tariffs on Mexico and the European Union. Also, Bloomberg Intelligence notes the company's ambition to boost its share of the alcohol beverage market to 6% by 2030 from 4.7% looks a tough ask right now, given fragile consumer confidence and uncertainty regarding tariffs and pricing. It comes as management has withdrawn its midterm 5-7% organic-sales target.- Novo Nordisk (NVO) is moving this morning due to its exposure to the US and tariffs. The Trump administration also proposed to consider fixed-dose combination drugs for price cuts if they don’t have a “clinically meaningful difference” compared to their original drugs. The pharmaceutical industry is resisting the proposal, with companies like Merck and Bristol Myers Squibb raising questions about the government’s legal authority and statutory basis to implement it.- Ford (F) and General Motors (GM) are under pressure this morning. Both are moving downwards. It comes with the US recently announcing sweeping new tariffs on imports from both Mexico and the EU.- Synopsis (SNPS) is moving this morning and at one point was the biggest upside mover in early trading. The company secured China's approval to buy out Ansys Inc. for $35 billion, according to Bloomberg. The buyout was already approved by European and US authorities, and Synopsys has now cleared one of the last major hurdles to a deal intended to shore up its market position.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Hermes declines as much as 3.3% following a downgrade to hold at Jefferies, which currently doesn’t see scope for the French luxury-goods maker to return to peak multiples. Analyst James Grzinic doesn’t model any significant acceleration in growth despite firmer US pricing and reduced availability constraints - AstraZeneca’s experimental hypertension drug Baxdrostat reduced the blood pressure of patients who have an uncontrolled or treatment-resistant form of the condition, boosting the prospects of the medicine becoming a blockbuster. Astra has identified Baxdrostat as having potential sales of more than $5 billion a year, while Barclays estimates it could bring in about $2 billion a year when taken as a single drug. Shares of AstraZeneca rose as much as 2.1% in early trading in London. - Brenntag shares fall as much as 5.6%, the most in almost two months, after the German chemicals firm cut its earnings guidance for the year in an unscheduled statement on Friday night. Morgan Stanley says underperformance is to be expected today, even if the profit warning wasn’t totally surprising.See omnystudio.com/listener for privacy information.

Here are the names you should know—for better or worse—specifically for the third quarter. Bloomberg Intelligence analysts have dug into their scenarios to identify the most interesting companies from a larger group of high-confidence Focus Ideas. Spanning sectors and regions, each scenario outlines a catalyst in the next few months that supports our case.   For more on the list of companies, Paul Sweeney and Norah Mulinda speak with Tim Craighead, Director of Equity Research for Bloomberg Intelligence.See omnystudio.com/listener for privacy information.

CoreWeave Inc. is dropping $9 billion on the data-center operator Core Scientific Inc. in an effort to gain more direct control over the physical assets powering the artificial-intelligence boom.   In buying Core Scientific in an all-stock deal, CoreWeave will inherit more than a gigawatt of data-center capacity across the US — much of which is already contracted out to serve its clients in training, deploying and using AI models. CoreWeave said Monday that controlling more of its supply chain will eliminate lease expenses, reduce costs including those associated with financing projects and “future-proof” its revenue growth.   For more on the acquisition, Paul Sweeney and Lisa Mateo speak with Bloomberg Intelligence Senior Analyst Anurag Rana.See omnystudio.com/listener for privacy information.

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, Katie Greifeld, Carol Massar and Tim Stenovec.- Levi Strauss (LEVI) shares jumped Friday morning after raising its revenue outlook, with the maker of 501 jeans expecting sales growth to outweigh the effect of President Donald Trump’s tariffs. The company said Thursday it now sees revenue rising between 1% and 2% for the current fiscal year — above the average analyst estimate and up from a previous view that sales would decline 1% to 2%. Levi also slightly lowered its guidance for gross margin due to tariffs, which the company factored in as 30% for products imported from China and 10% for the rest of the world.- PayPal (PYPL) shares slide after JPMorgan told financial technology companies that it will start charging fees amounting to hundreds of millions of dollars for access to their customers’ bank account information – a move that threatens to upend the industry’s business models. The largest US bank has sent pricing sheets to data aggregators — which connect banks and fintechs — outlining the new charges, according to people familiar with the matter. The fees vary depending on how companies use the information, with higher levies tied to payments-focused companies, the people said, asking not to be identified discussing private information.- Albermarle (ALB) saw its shares drop as a UBS analyst cut the lithium provider to sell from neutral and trimming the price target.See omnystudio.com/listener for privacy information.

Delta Air Lines (DAL) shares rose more the 11% this past week after reinstating its profit outlook for the year. The carrier said travelers are coming back, prompting its stock to surge amid a fresh sense of confidence in the beaten-down US consumer. Delta expects an adjusted profit of $5.25 to $6.25 a share this year, according to a statement on Thursday as Delta reported better-than-expected second-quarter results. Moderna (MRNA) shareholders welcomed the news that US regulators approved Moderna Inc.’s COVID vaccine for children, but for a narrower group than before, continuing Robert F. Kennedy Jr.’s controversial policy that restricts access to the shots for some kids. The Food and Drug Administration gave full approval of the immunization for kids under 12 who are at increased risk from the disease, the company said in a statement. The stock rose more than 10% on the week. PTC Inc. (PTC) saw its stock rise nearly 10% on the week on news that Autodesk Inc. is weighing an acquisition of the rival engineering-software provider, according to people familiar with the matter. Autodesk has been working with advisers to evaluate a cash-and-stock deal for Boston-based PTC, said the people, who asked to not be identified because the matter isn’t public. PTC, with a market value of about $23 billion, is also said to be drawing interest from other industry players. See omnystudio.com/listener for privacy information.