Enphase Drops, T-Mobile Falls, JetBlue Lower on Cost Cuts
On this episode of Stock Movers:
- Enphase (ENPH) shares drop in the biggest one-day drop since September 2016. Shares of US solar companies fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected.
- T-Mobile (TMUS) shares fall after Softbank sold T-Mobile stake for $4.8 billion. It's the biggest US share sale since TD Bank sold a $13.1 billion stake in Charles Schwab in February. The sale will help fund Softbank's plans to ramp up investments in AI, including plans to put down as much as $30 billion in OpenAI.
- JetBlue(JBLU) shares are lower on plans to accelerate its cost reductions by eliminating some flights, pausing retrofits and parking some jets due to weaker-than-expected demand for travel. This is according to an internal memo, which CNBC reported on earlier.
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