Stock Movers

On this episode of Stock Movers:
- Novo Nordisk shares dropped as much as 4.4% after US President Donald Trump demanded drug companies lower US prices. The pharmaceutical company is down more than 30% this week, heading for the stock’s worst week on record.
- IAG stocks rose to their highest since early 2020 after the company predicted total fuel cost of €7.1 billion ($8.1 billion) this year, down from a previous forecast of €7.5 billion as the airline group benefits from falling oil prices.
- Campari shares gained as much as 8.8%, the most since April, after the Italian spirits maker reported first-half results. Adjusted Ebitda and sales for the period beat consensus estimates and the company left its full-year guidance unchanged, with analysts noting better-than-expected profitability.

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On this edition of Stock Movers:

- Apple (AAPL) shares are surging after the iPhone maker reported third-quarter revenue that handily topped analysts’ estimates, boosted by surprisingly strong sales of the iPhone and products in China. Revenue rose 9.6% to $94 billion in the period, which ended June 28, the company said in a statement Thursday. Analysts estimated $89.3 billion on average, according to data compiled by Bloomberg. Apple had projected a $900 million headwind from tariffs during the period, saying that revenue would grow in the low- to mid-single digits. Though US tariffs are still expected to weigh on results in the long run, they likely provided a boon to Apple in the latest period — with consumers rushing to stores to get out ahead of expected price increases. The company also has been staging a comeback in China, a market where local phone brands have made inroads with consumers. Services were another bright spot for Apple last quarter, topping Wall Street projections.

- Amazon (AMZN) shares fell in after hours trading. The company's projected operating income in the current quarter that fell short of analysts’ estimates, worrying investors that the tech giant is spending too much to keep up with competitors in the race for artificial intelligence. Operating profit will be $15.5 billion to $20.5 billion in the period ending in September, compared with an average estimate of $19.4 billion. Sales will be $174 billion to $179.5 billion, the company said Thursday in a statement. Analysts, on average, expected $173.2 billion. Chief Executive Officer Andy Jassy is engaged in an AI infrastructure arms race with Microsoft Corp. and Alphabet Inc. that requires heavy spending on data centers. Both of those rivals reported strong earnings earlier this week showing they are benefiting from the AI boom. In the second quarter, revenue jumped 13% to $167.7 billion, handily beating estimates. But Amazon Web Services, the largest seller of rented computing power, gained just more than 17% to $30.9 billion, just ahead of analysts’ average estimate of $30.8 billion.

- Reddit (RDDT) shares jumped after the company reported its most profitable quarter to date and projected third-quarter sales that far surpassed analyst expectations, signaling the strength of its growing advertising business. Sales for the current quarter are expected to be between $535 million and $545 million, Reddit said in a statement Thursday, with the midpoint of that range exceeding the average Wall Street estimate of $473 million. Net income was $89 million, more than double the $36 million average analyst estimate.

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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 Griefeld, Carol Massar and Tim Stenovec.

- Amazon (AMZN) projected operating income in the current quarter that fell short of analysts’ estimates, worrying investors that the tech giant is spending too much to keep up with competitors in the race for artificial intelligence. Operating profit will be $15.5 billion to $20.5 billion in the period ending in September, compared with an average estimate of $19.4 billion. Sales will be $174 billion to $179.5 billion, the company said Thursday in a statement. Analysts, on average, expected $173.2 billion. Revenue at Amazon Web Services, the largest seller of rented computing power, gained just more than 17% to $30.9 billion, just ahead of analysts’ average estimate of $30.8 billion. Chief Executive Officer Andy Jassy is juggling several challenges. He’s engaged in an AI infrastructure arms race with Microsoft Corp. and Alphabet Inc. that requires heavy spending on data centers. Walmart Inc. has emerged as a tough e-commerce rival, especially when competing for price-conscious shoppers looking for household essentials amid the trade war and tariff uncertainty.

- First Solar (FSLR) posted second-quarter earnings above analysts' expectations and raised its 2025 revenue guidance. The solar energy company reported $341.9 million in net income, or $3.18 a share, down from $349.4 million, or $3.25 a share, a year earlier. First Solar posted $1.1 billion in revenue, up from $1.01 billion the year prior. Analysts were expecting revenue of $1.04 billion. The company said the revenue gains were fueled by an increase in sales volume of solar modules to third parties. The company upped its full-year revenue guidance to be between $4.9 billion and $5.7 billion, up from $4.5 billion to $5.5 billion. It also narrowed its earnings guidance to a range of $13.50 to $16.50 a share, from $12.50 to $17.50.

- Reddit (RDDT) shares jumped after the company reported its most profitable quarter to date and projected third-quarter sales that far surpassed analyst expectations, signaling the strength of its growing advertising business. Sales for the current quarter are expected to be between $535 million and $545 million, Reddit said in a statement Thursday, with the midpoint of that range exceeding the average Wall Street estimate of $473 million. Net income was $89 million. Reddit, which went public in March 2024, has been investing in advertising technology, hoping to grow its share of the digital advertising business dominated by industry giants Meta Platforms Inc. and Alphabet Inc.’s Google. Reddit’s advertising revenue is currently driven by a small number of large companies, but the company has been focused on attracting more small- and medium-sized advertisers to reduce risk. The forum site is also building relationships internationally to diversify its roster of advertisers, said Jennifer Wong, Reddit’s chief operating officer, in an interview.

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On this edition of Stock Movers:

- Meta Platforms (META) shares are surging today. This comes after the company reported earnings after the bell yesterday and blew out second quarter earnings expectations. Meta is taking advantage of its lucrative advertising business and stepping up spending next year, with executives saying now is the time to seize on investment opportunities in artificial intelligence. Investors cheered the plan, sending shares up as much as 12% to $779.34 after markets opened in New York on Thursday, marking a record high. The social media giant reported second-quarter earnings on Wednesday that beat Wall Street estimates and forecast better-than-expected results for the current quarter. “We really believe that this is a time for us to really make investments in the future of AI, as I think it will open up both new opportunities for us in addition to strengthen our core business,” Chief Financial Officer Susan Li told investors during a call after the results were announced. Meta executives underscored that its evolving AI technology, which has been integrated into its ads products, is already producing “meaningful” revenue.

- eBay (EBAY) shares jumped after the company projected sales that topped analysts’ estimates, suggesting optimism for continued consumer resilience at a time of shifting US tariff proposals. Revenue will be $2.69 billion to $2.74 billion in the period ending in September, the company said Wednesday in a statement. Profit, excluding some items, will be $1.29 to $1.34 a share. Analysts, on average, estimated sales of $2.65 billion and per-share earnings of $1.31, according to data compiled by Bloomberg. Investors have been seeking clues about how consumers are reacting to President Donald Trump’s trade war, which is expected to fuel inflation. eBay has seen the sale of used and refurbished goods grow faster than other categories with shoppers eager to save money.

- Shake Shack (SHAK) shares slumped after the company forecast third-quarter revenue that fell below expectations, pointing to inflation and cautious diners. The burger chain said it expects the metric to be between $358 million and $364 million, just shy of the average estimate of analysts polled by Bloomberg. Shake Shack said its outlook factors in a “degree of pressure on the consumer spending landscape and ongoing inflationary headwinds.” The New York-based company has pledged to ramp up the pace of new product launches and increase advertising, while scrutinizing its supply chain to keep a lid on costs. The company said that its efforts are showing promise, though it hasn’t yet been enough to offset the economic anxiety that has hit restaurant visits.

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On this episode of Stock Movers:
- Meta (META) shares surge after reporting second-quarter earnings, stating they plan to increase spending next year, with executives saying now is the time to seize on investment opportunities in artificial intelligence.
- eBay (EBAY) shares rise after the company projected sales that topped analysts’ estimates, suggesting optimism for continued consumer resilience at a time of shifting US tariff proposals.
-Carvana (CVNA) shares jump after they reported revenue during the second quarter that exceeded the average analyst estimate. The company also posted a sixfold increase in net income and record quarterly sales of used vehicles.

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On this episode of Stock Movers:
- Meta (Meta) shares rose after a massive earnings beat. Meta also lifted the low end of its forecast for 2025 capital expenditures, while also providing early steer on 2026 spending.
- Microsoft (MSFT) shares gain after the closely watched Azure division posted a 39% rise in sales, above estimates. Capex during the recently completed quarter of $24.2 billion was a record.
- Qualcomm (QCOM) shares drop as the company is under pressure after giving a mixed outlook for phone and automation markets. This reignited concerns that tariffs will take a toll on the industry.

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On this episode of Stock Movers:
- Eli Lilly (LLY) shares are moving on news the company's diabetes drug Mounjaro was as good at preventing heart attacks and strokes as its older medicine Trulicity in a head-to-head study. According to Bloomberg Intelligence analyst Michael Shah, the study's results will "likely be received negatively by the market" because Mounjaro was not meaningfully better than Trulicity.
- AbbVie (ABBV) shares are getting a lift after AbbVie raised its full-year profit forecast due to booming sales from newer immunology drugs that beat Wall Street's estimates. The company's quarterly sales were $15.42 billion, above the average analyst estimate of $15 billion, with adjusted earnings of $2.97 a share, a 12% increase.
- Warner Bros Discovery (WBD) shares are moving on news it is enacting a round of layoffs that will see jobs cut across its marketing, production strategy, operations and theatre ventures divisions. Roughly 10% of the studio’s workforce will be impacted, according to Variety.

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On this episode of Stock Movers:
- Microsoft (MSFT) shares are soaring in premarket after it reported better-than-expected growth in its cloud business, with its Azure cloud-computing unit posting a 39% rise in sales, handily beating the 34% analysts expected. Microsoft is set to become the second company to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations.
- Meta (META) are higher this morning after Facebook’s parent company gave a strong revenue forecast and reported second-quarter results that beat analysts’ expectations. While it also raised its full-year forecast for capital expenditures, analysts said the company’s spending was justified by its growth.
- Ford (F) is lower after announcing an anticipated full-year net tariff impact of about $2 billion. Ford issued full-year guidance that is lower than its initial forecast over President Trump’s tariff policies. Analyst Tom Narayan said potential headwinds include the status of electric vehicle tax credits, softness in Europe, Ford’s warranty issue and liquidity.
- CVS (CVS) is getting a boost in the premarket after the company boosted its adjusted earnings-per-share guidance for the full year, following second-quarter results that also topped expectations.

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On this episode of Stock Movers:
- Societe Generale shares hit their highest since the financial crisis after the French bank said it would boost investor payouts while lifting its profitability guidance.
- Rolls-Royce shares rise as much as 12%, hitting a record high, after the aero engine maker increased guidance for the year by more than analysts expected. Strong margin performances in the civil aerospace and power systems divisions drew particular attention.
- AB InBev shares dropped the most in five years after the company sold less beer than expected during the second quarter, with a downturn in consumer spending in Brazil and China dragging on sales.

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On this edition of Stock Movers:

- Generac Holdings (GNRC) shares climbed as much as 9.7% to their highest intraday level since December, after the power-equipment company boosted the lower end of its adjusted Ebitda margin for the full year, following second-quarter results that topped expectations.

- Electronic Arts (EA) shares are up today after the video-game publisher reported first quarter net bookings that beat the average analyst estimate boosted by positive trends for its football franchise FC and shooter video game Apex Legends.

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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, Carol Massar and Tim Stenovec.

- Microsoft (MSFT) reported better-than-expected growth in its cloud business, which it says brought in more than $75 billion in the past year, as the company continues to commercialize artificial intelligence services. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft’s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth. The company said sales at the cloud division grew 34% to more than $75 billion during the year ended in June, the first time the company has disclosed a revenue figure for Azure, which sells computing power and other services to businesses.Overall, sales rose 18% to $76.4 billion during the quarter. Net income was $3.65 a share. Analysts on average estimated $73.9 billion in revenue and per-share earnings of $3.37. Shares initially rose 7% afterhours on the news.

- Meta (META) topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current period, a sign that the social media company’s advertising business is still growing quickly enough to support aggressive spending on artificial intelligence. Shares jumped as much as 10% in late trading. Third-quarter sales will be $47.5 billion to $50.5 billion, Meta said in a statement Wednesday, with the midpoint of that range exceeding the average analyst estimate of $46.2 billion, according to data compiled by Bloomberg. The social media giant, which owns Instagram and Facebook, reported second-quarter revenue of $47.5 billion. Meta lifted the low end of its forecast for 2025 capital expenditures as it continues to invest heavily in the talent, infrastructure, data centers and energy needed to compete in a fast-moving AI race. The company now expects to spend $66 billion to $72 billion this year. The projection was adjusted higher in April to account for ongoing trade disputes and AI investments. Meta stock was up 18.7% so far this year before Wednesday’s report.

- Ford (F) said profit will fall as much as 36% this year as President Donald Trump’s tariffs reduce earnings by about $2 billion, more than the automaker previously expected. Adjusted earnings before interest and taxes will be $6.5 billion to $7.5 billion, Ford said Wednesday, restoring guidance it had suspended in May over uncertainty surrounding Trump’s trade policies. That’s down from the $7 billion to $8.5 billion it initially forecast, and represents a sharp drop from last year’s earnings of $10.2 billion. The update highlights how even Ford, which manufactures the most cars in the US of any automaker, is being squeezed by new trade barriers imposed by the White House. Trump’s tariffs on imported vehicles, auto parts, steel and aluminum – as well as goods from key US trading partners – have ballooned costs for Ford and its rivals. Shares fell after the close of regular trading.

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On this episode of Stock Movers:
- MARA Holdings shares (MARA) rose after the Bitcoin miner reported second-quarter adjusted Ebitda that beat the average analyst estimate amid gains in the price of the world’s biggest cryptocurrency.
- Peloton Interactive shares (PTON) rose after UBS upgraded to buy from neutral citing upside to full-year 2026 Ebitda expectation supported by top-line growth and further cost cuts.
- Humana shares (HUM) rose after the health insurer boosted its adjusted profit and revenue forecast for the full year, with the new outlook topping the average analyst estimate.

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On this episode of Stock Movers:
- Wingstop (WING) shares rise after the restaurant operator reported adjusted earnings per share and revenue that beat the average analyst estimates. Wingstop also forecast total domestic stores comp sales growth for the full year of about +1%, above expectations.
- Starbucks (SBUX) shares rise. Shares rallied in New York trading Wednesday as investors focused on green shoots in the earnings release, including the first sales gain in China since the end of 2023. The stock has risen about 3% so far this year, lagging the S&P 500 Index.
- Palo Alto Networks (PANW) shares fell. Today, Palo Alto Networks Inc. agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion.

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On this episode of Stock Movers:
- Palo Alto Networks (PANW) shares are lower as it agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion. The companies said the value implies a 26% premium to CyberArk shares on a volume weighted average over 10 days before the Wall Street Journal reported on the acquisition talks.
- Coinbase (COIN) shares are moving on news JPMorgan and Coinbase signed an agreement to directly link customers' bank accounts to their cryptocurrency wallets. The deal establishes a direct connection between Chase bank accounts and Coinbase crypto wallets, expected to go live next year, and allows customers to fund Coinbase accounts with their Chase credit cards.
- Microsoft (MSFT) shares are on the move ahead of earnings. Bloomberg Intelligence writes: Microsoft's critical software portfolio and AI sales "could offset weakness due to rising economic uncertainty in other business areas, such as non-AI cloud spending, advertising and seat growth in Office."

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On this episode of Stock Movers:
- Starbucks (SBUX) shares are higher this morning after the coffee chain reported net revenue for the third quarter that beat the average analyst estimate. The report also showed that comparable sales came in better-than-expected in China and North America, two of the company’s key markets.
- Mondelez (MDLZ) is under pressure this morning after it said unease around the economy drove a bigger-than-expected decline in North American sales in the second quarter. CEO Dirk Van de Put said customers are worried about their personal finances, employment outlook and inflation, and he doesn't expect a quick rebound in the US market.
- Hershey's (HSY) shares are lower after it lowered its full year profit guidance on much tariff costs than it had previously estimated. The company now sees full-year tariff costs to be $170 million to $180 million, up from its estimate of $15 million to $20 million in May, the company said in a statement Wednesday.
- Visa (V) shares are sliding after it reported third-quarter results that beat Wall Street estimates, but said it still expects earnings per share to increase by a percentage in the low teens and revenue to grow by low double digits, according to a presentation. Mizuho Securities analyst Dan Dolev said in a note to clients that Visa’s failure to lift the full-year outlook may be to blame for the stock drop.
- Humana (HUM) is soaring on news it raised its profit guidance for the year, with management saying medical costs were in line with expectations and the company benefitted from growth in its Medicare Advantage and pharmacy businesses.

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On this episode of Stock Movers:
- Adidas shares plunge as much as 8.6%, the most in over three months after the footwear giant reported weaker than expected revenue growth which offset a margin beat. The lack of guidance upgrade is driven by increased tariff uncertainty and is a further disappointment.
- Kering shares rose 2.7% after the luxury-goods maker reported better-than-expected operating profit but plunging sales at Gucci which is undergoing a second design revamp in three years.
- Danone shares gained the most in three years after sales beat expectations as the French consumer goods company saw volumes rise in most of its categories, including high-protein products.

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On this edition of Stock Movers:

- Mondelez (MDLZ) shares are down in after hours trading. While the company posted quarterly results that topped estimates, they reiterated their guidance. Mondelez reported better-than-expected sales for the second quarter, citing strong pricing execution in its chocolate business. The owner of the Oreo, Ritz and Cadbury brands reported adjusted earnings per share of 73 cents, topping analysts’ expectations for 68 cents. Sales totaled $8.98 billion, better than the $8.84 billion that analysts had expected. Chief Executive Officer Dirk Van de Put said the company remained confident in its ability to deliver “amid a challenging environment” and cited “robust growth across the vast majority of our geographies.”

- Booking Holdings (BKNG) shares are down in after hours trading. The company delivered a disappointing forecast for the third quarter, citing “increased uncertainty in the geopolitical and macroeconomic environment.” The online travel agent, which operates the Kayak, Priceline and Booking.com brands, said that room nights growth will be roughly 4.5% in the period. Analysts had estimated 5.5% on average, according to data compiled by Bloomberg. The underwhelming report signals that travelers may be reining in spending as they face trade conflicts and an unpredictable economy.

- Chart Industries (GTLS) shares soared today. The reason why the stock was up is because Baker Hughes Co. agreed to buy the industrial equipment maker for about $9.6 billion in cash, expanding the oilfield service giant’s reach into liquefied natural gas, data centers and other technologies. The deal announced early Tuesday calls for Chart investors to receive $210 per share, a 22% premium over Monday’s closing price. The agreement puts an end to Chart’s previous plan to merge with Flowserve Corp. The move consolidates Baker Hughes’ position in the booming LNG sector and is a significant bet on the outlook for US energy growth amid a slowdown in domestic oil drilling. Electricity demand in the world’s biggest economy is expected to surge in coming years, driven by the expanding artificial intelligence industry.

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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, Scarlet Fu, Carol Massar and Tim Stenovec.

- Mondelez (MDLZ) posted quarterly results that topped estimates, but reiterated its annual outlook. The company reported better-than-expected sales for the second quarter, citing strong pricing execution in its chocolate business. The owner of the Oreo, Ritz and Cadbury brands reported adjusted earnings per share of 73 cents, topping analysts’ expectations for 68 cents. Sales totaled $8.98 billion, better than the $8.84 billion that analysts had expected. Chief Executive Officer Dirk Van de Put said the company remained confident in its ability to deliver “amid a challenging environment” and cited “robust growth across the vast majority of our geographies.”

- Starbucks (SBUX) sales and profit fell more than anticipated, signaling that a plan to revive growth by speeding up service and making cafes more welcoming has yet to bear fruit. Comparable sales dropped 2% in the fiscal third quarter, the company said Tuesday, while analysts polled by Bloomberg foresaw a 1.5% decline. Earnings excluding some items were 50 cents a share, well below the 65 cents that analysts had anticipated.Starbucks is in the throes of a turnaround after suffering an uncharacteristic streak of same-store sales declines over the past year and a half. Chief Executive Officer Brian Niccol, who took over in September, is betting he can give the US business a jolt by cutting down wait times, revamping the menu and remodeling stores to restore seating. Shares of Starbucks rose 2.2% in extended New York trading at 4:11 p.m. The stock had gained 1.9% this year through the latest close, lagging the 8.3% rise of the S&P 500 Index.

- Novo Nordisk (NOVOB DC) named its head of international operations as chief executive officer after slumping weight-loss drug sales led to a profit warning that wiped $93 billion off its market value. Maziar Mike Doustdar, an insider who has spent more than three decades at the Danish drugmaker, will need to lead a turnaround drive as the company loses ground to Eli Lilly & Co. in the obesity market. The appointment came shortly after Novo slashed its financial forecast, predicting this year’s sales will grow 8% to 14%, while operating profit expands 10% to 16%, based on constant exchange rates. That compares with its previous growth forecasts of as much as 21% and 24%, respectively.

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On this edition of Stock Movers:

- Novo Nordisk (NVO) shares close down 23%, erasing more than $73 billion in market value, after the maker of Wegovy and Ozempic cut its sales and profit forecasts, citing slumping sales of weight-loss drugs. The Danish drugmaker also named a company insider as its new CEO, which one investor said may disappoint those hoping for a radical shake-up under an external hire. It was the stock’s steepest one-day drop on record and took the shares to the lowest level since March 2022.

- Palo Alto Networks (PANW) shares fell after the Wall Street Journal reported that the company is in talks to buy CyberArk Software Ltd. (CYBR) in a deal that could value the Israeli cybersecurity firm at more than $20 billion. Palo Alto Networks may finalize a deal as soon as this week, the Journal reported Tuesday, citing people familiar with the matter whom it didn’t identify. CyberArk declined to comment. Palo Alto Networks didn’t respond to a request for comment.

- Union Pacific (UNP) shares are down today. The company agreed to acquire Norfolk Southern Corp. (NSC) in a $72 billion cash-and-stock transaction, forming the only US transcontinental railroad in what stands to be the industry’s largest deal ever. The tie-up will marry Union Pacific’s network across the western US with Norfolk’s East Coast routes, reshaping a domestic rail market that’s now comprised of just a half-dozen companies. Observers predict other major deals could follow, as competitive pressure rises on rivals including CSX Corp. and Berkshire Hathaway Inc.’s BNSF. “We think the political environment is accommodating,” Union Pacific Chief Executive Officer Jim Vena said Tuesday in an interview. The companies have already spoken with regulators, members of the Trump administration and congressional lawmakers. “We wouldn’t have taken this path if we had not engaged and understood what they needed to see us deliver and whether we could.”

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On this episode of Stock Movers:
- Sarepta (SRPT) shares soar after the Food and Drug Administration reversed course and recommended that patients who can walk be allowed to take Sarepta Therapeutics Inc.'s gene therapy Elevidys again.
- UPS (UPS) shares fall after the parcel carrier declined to provide full-year revenue or operating profit guidance amid macroeconomic uncertainty. Analysts also flagged soft margins in the US Domestic Package segment.
- Whirlpool (WHR) shares. The company slashed its 2025 profit outlook, saying the boost from making the majority of its appliances in the US has yet to materialize. Chief Financial Officer Jim Peters told Bloomberg that increased promotions by rival Asian appliance makers resulted in Whirlpool seeing a “slight loss in market share” during the period.

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On this episode of Stock Movers:
- Novo Nordisk (NVO) shares plunge. Novo Nordisk A/S named Maziar Mike Doustdar as chief executive officer after a profit warning due to slumping weight-loss drug sales.
- United Health Group (UNH) shares slump. UnitedHealth Group Inc. warned its annual profit would be hit harder than expected, lowering its long-term profit margin targets and declining to affirm a long-standing growth target.
- Royal Caribbean (RCL) shares fall after the cruise operator forecasted adjusted earnings per share for the third quarter that missed the average analyst estimate.

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On this episode of Stock Movers:
- Union Pacific (UNP) agreed to acquire Norfolk Southern (NSC) in a cash-and-stock transaction valued at $85 billion, forming a transcontinental rail behemoth in what stands to be the industry’s largest deal ever.Norfolk Southern shareholders will receive one Union Pacific share and $88.82 in cash for each Norfolk share, the companies said in a statement Tuesday. Union Pacific will issue about 225 million shares to Norfolk Southern investors, representing 27% ownership in the combined company.
- Procter & Gamble (PG) shares are up 1.3% in premarket trading, after the consumer goods conglomerate reported fourth-quarter results that were slightly ahead of expectations. It also gave an outlook. Late on Monday, it announced that Chief Operating Officer Shailesh Jejurikar would become chief executive officer on Jan. 1.
- Novo Nordisk (NOVOB DC) shares slump as much as 30%, wiping more than $90b off the Danish drugmaker’s market value, after the company cut its sales and profit forecasts, citing slumping sales of weight-loss drugs. Novo named a company insider as its new CEO.

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On this episode of Stock Movers:
- UnitedHealth (UNH) shares fall 3.7% in premarket trading after the health insurer reissued its adjusted profit forecast for 2025 that fell short of Wall Street’s expectations. The company’s guidance range for its annual revenue also missed the average analyst estimate.
- UPS (UPS) shares fall 3.5% premarket after the parcel carrier declined to provide full-year revenue or operating profit guidance “given the current macro-economic uncertainty.”
- Whirlpool (WHR) slashed its 2025 profit outlook, saying that the boost it expects from making the majority of its appliances in the US has yet to materialize as foreign rivals rushed imports into the country during the second quarter to avoid higher tariffs.

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On this episode of Stock Movers:
- AstraZeneca shares rise as much as 2% after the drugmaker reported revenue for the second quarter that were ahead of market expectations. JPMorgan analysts called it a “high quality” sales beat.
- Philips increased its profitability outlook as the impact of the trade war was not as severe as it feared. The company now expects full-year adjusted operating earnings margin of as much as 11.8%, a 50 basis points increase from the previous outlook, according to a statement.
- Stellantis shares fall as much as 3.4% after the carmaker updated its estimate of 2025 net tariff impact to about €1.5 billion, of which €300 million was incurred in 1H25.

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On this edition of Stock Movers:

- Abercrombie & Fitch (ANF) shares gained today after JPMorgan boosted its price target on the retailer to $151, a street high, citing strength across categories and potential for sequential improvement in same-store-sales. Analyst Matthew Boss says: “We are raising our 2Q25 EPS to $2.33 (above Street $2.26) based on revenues +7.1% y/y (above Street +4.3% & management’s +3-5% revenue guidance) and same-store-sales growth of +4.7% same-store-sales growth (vs. Street +2.3%).”

- ASML Holding (ASML) and other European semiconductor equipment stocks gained today after their key customer, Samsung, won a contract to make AI chips for Tesla. Meanwhile, a US-EU trade agreement that exempts tariffs on semiconductor equipment gives an additional boost to the sector after its two-week long slide.

- Nike (NKE) shares are up today after JPMorgan upgrades to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

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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, Scarlet Fu, Carol Massar and Tim Stenovec.

- Tesla (TSLA) rose off news that Samsung will produce Tesla's AI semiconductors in a new $16.5 billion pact. Elon Musk described the value of the deal as "just the bare minimum" and said the actual output is likely to be several times higher, with the AI6 component forming the foundation of Tesla's driving hardware suite. The contract win is seen as a signal of confidence for Samsung's upcoming fabrication technology and helps burnish its reputation as the strongest alternative to TSMC, according to Ryu Young-ho, an analyst at NH Investment & Securities Co. Others in the chip space benefitted off the news, including AMD - the number two gainer in the S&P today.

- Nike (NKE) shares rose to their highest intraday level since March, after JPMorgan upgraded to the stock to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

- Opendoor Technologies (OPEN) is postponing a shareholder vote on a reverse stock split after a recent run-up in the company's shares. The company had previously scheduled a special meeting due to a notification from Nasdaq that it could be delisted for failing to maintain a stock price of $1 or more. The recent volatility in the company's stock led the board to delay the vote on stock split proposals, according to a statement Monday. Opendoor was the most actively traded stock today, down 7.87% at the close.

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On this edition of Stock Movers:

- Samsung (SSNHZ) shares are surging after the company will produce AI semiconductors for Tesla Inc. in a new $16.5 billion pact that marks a win for its underperforming foundry division. South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report. Samsung’s Seoul-traded shares rose 6.8% to their highest since September, while its suppliers like Soulbrain Co. jumped 16%. Tesla’s stock rose more than 1% in early US trading. A Samsung spokesperson declined to comment, citing confidentiality terms in its contract.

- Nike (NKE) shares are gaining today after JPMorgan upgrades to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

- PayPal (PYPL) shares are up today. The company will soon allow businesses to accept more than one hundred cryptocurrencies at checkout. The option is going live in the coming weeks and will allow merchants to accept crypto such as Bitcoin, Ethereum, Tether’s USDT and Circle’s USDC, from wallets including Coinbase, OKX, Phantom, MetaMask and Exodus. When a consumer pays with crypto, the funds are automatically converted into fiat or PayPal’s PYUSD stablecoin for deposit in the merchant’s account. “You have globally 650 million users that participate in the $3 trillion market of cryptocurrencies,” said Frank Keller, general manager of large enterprise and merchant platform at PayPal, in an interview with Bloomberg. “We wanted to give small businesses access to this customer base that is growing.”

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On this episode of Stock Movers:
- Nike (NKE) shares rise after JPMorgan upgrades to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan.
- GE Vernov (GEEV) falls after it received a pair of downgrades, with analysts cutting their views on the electric-power company in the wake of results that led to sharp gains in the stock.
- ASML (ASML) shares gain after its key customer, Samsung, wins a contract to make AI chips for Tesla. Meanwhile, a US-EU trade agreement that exempts tariffs on semiconductor equipment gives an additional boost to the sector after its two-week long slide.

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On this episode of Stock Movers:
- LNG and defense stocks rise in premarket trading, after the European Union agreed a trade deal with the US, committing to big purchases of American energy products as part of the pact.
- Samsung Electronics will produce AI semiconductors for Tesla (TSLA) in a new $16.5 billion pact that marks a win for its underperforming foundry division.South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report.
- Boeing Co. (BA) is preparing for a strike at its St. Louis defense hub after factory workers rejected a contract offer that would’ve boosted their wages by 20% over four years.The International Association of Machinists and Aerospace Workers Local 837, which represents 3,200 Boeing defense workers in Missouri and Illinois, said its members voted overwhelmingly against the new terms Sunday.

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On this episode of Stock Movers:
- Shares in automakers led a relief rally in European stocks on Monday after the US and EU agreed to a trade deal, with the bloc facing 15% tariffs on most of its exports, including cars.
- ASML and other European semiconductor equipment stocks gain after their key customer, Samsung, wins a contract to make AI chips for Tesla. Meanwhile, a US-EU trade agreement has staved off trade war fears, offering an additional boost to the sector after its two-week long slide.
- Heineken saw a decline in beer volumes, as retailer disputes across Europe dragged on sales and limited its ability to take advantage of the summer heat wave.

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Bloomberg Intelligence Senior Analyst Anurag Rana says Microsoft's critical software portfolio and AI sales could offset weakness due to rising economic uncertainty in other business areas, such as non-AI cloud spending, advertising and seat growth in Office. Rana believes that although products like Office and Windows aren't particularly susceptible to tariff shocks, gains in new users will likely be challenging through 2025. Bloomberg Intelligence also says the non-AI Azure expansion rate could suffer as enterprises cut back on cloud consumption to save costs. In addition, he notes the relationship with OpenAI positions Microsoft to capture increased AI spending, and the company could top $20 billion in AI sales this year.   

For more on upcoming earnings from Microsoft, along with other big tech companies, Rana speaks with Bloomberg's Paul Sweeney and Isabelle Lee.

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- Coca-Cola Co. said it’s launching a new Coke product for American consumers made with US cane sugar this fall.
Tuesday’s announcement came less than a week after President Donald Trump said in a Truth Social post that the company agreed to use cane sugar in its US Coke beverages. On a call with analysts, Chief Executive Officer James Quincey thanked the president for his “enthusiasm for our Coca-Cola brand.” 
The company also posted second-quarter sales growth and profit that beat Wall Street expectations as consumers continued to pay higher prices for the company’s soft drinks. It now expects full-year comparable earnings per share growth of about 3%, up from a range of 2% to 3%.    

- General Motors Co. said it suffered a $1.1 billion profit hit from Donald Trump’s tariffs and revealed no plan for a near-term fix to return to pre-tariff profit levels.
The Detroit-based automaker said Tuesday it earned $2.53 per share on an adjusted basis, above the Bloomberg consensus forecast of $2.33 but short of the $3.06 it made a year ago. GM’s profits also suffered from higher warranty costs and a buildup in inventory of electric vehicles, which are set to lose federal subsidies under Trump’s recently passed budget bill.
GM’s results showcase the difficulty automakers face to maintain profits in an environment that newly penalizes globally integrated parts supply chains and cross-border vehicle sales. Even though the automaker beat profit expectations, earnings in its all-important US business suffered from import duties on vehicles made in Canada, Mexico and South Korea.
GM hasn’t moved to raise already high average sticker prices enough to recoup tariff costs, instead opting to absorb the blow by cutting costs and repatriating some production. Chief Executive Mary Barra hinted at the challenges adjusting to the new reality in a letter to shareholders. 

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On this episode of Stock Movers:

- Chipotle (CMG) shares plunged after cutting its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven’t been enough to offset a traffic slump that the company attributed to economic anxiety. Sales at established restaurants are now expected to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. The shares tumbled as much as 14% during trading on Thursday, their biggest intraday drop since March 2020. The stock was down 12% this year through Wednesday’s close, among the worst performers in US restaurants.

- GE Vernova (GEV) shares rose on new it increased its sales of transformers and other electrical equipment to big tech firms building large data centers.That’s helped the company boost its total sales of electrical equipment to about $500 million in the first half of the year, compared with $600 million for all of 2024, Chief Executive Officer Scott Strazik said in an interview on Wednesday. “We’re accelerating our direct selling with the hyperscalers,” he said. The demand for power is surging to levels not seen in decades, driven by data centers, new factories and the overall electrification of the economy. That has increased investor interest in everything to do with electricity and has bolstered GE Vernova, which raised its 2025 guidance on Wednesday as it reported second-quarter earnings.

- Texas Instruments (TXN), a key chipmaker for producers of cars and factory equipment, tumbled after stoking fears that a tariff-fueled surge in demand will be short-lived. Though the company issued a third-quarter forecast on Tuesday that beat most estimates, the outlook was more guarded than some investors had anticipated. The stock fell further during a conference call, when executives struggled to win over analysts who said the company’s tone had become increasingly negative. The main concern is whether tariffs and trade disputes will hurt a sales resurgence that’s still in the early stages. While revenue jumped 16% last quarter, executives acknowledged that they didn’t know how much of that came from tariff-related “pull in” — customers making purchases to get out ahead of the levies.

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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, Carol Massar and Tim Stenovec.

- Intel (INTC) shares tumbled nearly 10% during trading Friday after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge. As part of Intel’s second-quarter report, Tan said the company will cancel some factory projects and take a more conservative approach to future spending. Tan called the investments begun under his predecessor, Pat Gelsinger, excessive and unwise.“I do not subscribe to the belief that if you build it, they will come,” he said on a conference call with analysts. At the same time, Tan struggled to give a clear picture of how he’ll make the company more competitive again. Gelsinger had embarked on an ambitious plan to turn Intel into a chip foundry, a business that makes products for outside clients. A key part of that was moving toward a more advanced production technique called 14A. But Tan signaled Thursday that Intel will only roll out that technology tentatively.

- Tesla (TSLA) shares rebounded after a rough stretch following earnings and CEO Elon Musk warning of difficult times ahead. “We probably could have a few rough quarters,” Musk said. “But once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”

- Deckers (DECK) shares soared during trading on Friday. Fuzzy Ugg boots and chunky Hoka running shoes saw big sales gains last quarter, bolstering financial results for parent company Deckers Outdoor Corp. Net sales for both brands surpassed analysts’ estimates in the fiscal first quarter ended June 30. Ugg sales rose about 19% from a year ago, while Hoka increased roughly 20%, Deckers said in a statement. The company’s shares gained as much as 21% on Friday, the biggest intraday rise since October 2023. The stock had fallen 48% this year through Thursday’s close. Rival Swiss sneaker marker On Holding AG shares also rose 5.3% in premarket trading.

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On this episode of Stock Movers:

- Intel (INTC) shares slid nearly 10% during trading today after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge. As part of Intel’s second-quarter report, Tan said the company will cancel some factory projects and take a more conservative approach to future spending. Tan called the investments begun under his predecessor, Pat Gelsinger, excessive and unwise. “I do not subscribe to the belief that if you build it, they will come,” he said on a conference call with analysts. At the same time, Tan struggled to give a clear picture of how he’ll make the company more competitive again. Gelsinger had embarked on an ambitious plan to turn Intel into a chip foundry, a business that makes products for outside clients. A key part of that was moving toward a more advanced production technique called 14A. But Tan signaled Thursday that Intel will only roll out that technology tentatively.

- Deckers (DECK) shares soared today after net sales for Ugg boots and Hoka running shows saw big sales gains in the last quarter, bolstering financial results for parent company Deckers Outdoor. The company’s shares gained as much as 21% on Friday, the biggest intraday rise since October 2023. The stock had fallen 48% this year through Thursday’s close. Rival Swiss sneaker marker On Holding AG shares also rose 5.3% in premarket trading. Chief Executive Officer Stefano Caroti has been steering Deckers through tariff pressures while trying to capitalize on the rising popularity of Hoka sneakers in the running shoe category. Its Ugg brand, known for its stout sheepskin boots, has long been a steady winner for the company.

- Boston Beer (SAM) shares were up after the alcoholic beverage maker reported earnings that beat estimates.

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On this episode of Stock Movers:
- Charter Comms (CHTR) shares fall after the company reported it lost more Internet customers than expected during the second quarter amid increased pressure from mobile companies’ 5G and fiber home internet offerings.
- Estee Lauder (EL) shares rise after JPMorgan upgraded the cosmetics company to overweight from neutral.
- Paramount (PARA) shares gain after the Federal Communications Commission approved Paramount Global's merger with Skydance Media after the Trump administration extracted concessions on the news and entertainment company's political coverage and diversity practices.

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On this episode of Stock Movers:
- Deckers (DECK) shares soar as Net sales for Ugg and Hoka surpassed analysts' estimates in the fiscal first quarter ending June 30th, with Ugg sales rising about 19% and Hoka increasing roughly 20%.
- Centene (CNC) shares tumble after the health insurer reported adjusted loss per share for the second quarter, surprising analysts who’d forecasted a profit. The company also reported higher medical costs in the second quarter than Wall Street’s expectations.
- Intel (INTC) shares slide after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge.

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On this episode of Stock Movers:
- Intel (INTC) shares are lower as CEO Lip-Bu Tan sparked concerns that he is more focused on cost cutting than restoring the company's technological edge. Tan said the company will cancel some factory projects and take a more conservative approach to future spending, calling investments begun under his predecessor "excessive and unwise." Intel will reduce capital expenditures and has laid off thousands of employees, with plans to cut staff by 15% and end the year with 75,000 employees.
- Charter Communications (CHTR) shares are down in premarket trading, after the cable company reported second-quarter earnings that missed expectations. In its second quarter results, Bloomberg Consensus EPS was $9.82 but it came in at $9.18.
- Deckers Outdoor (DECK) share are higher in the premarket as net sales for Ugg and Hoka surpassed analysts' estimates in the fiscal first quarter ended June 30, with Ugg sales rising about 19% and Hoka increasing roughly 20%. The company's shares jumped as much as 12% in premarket trading on Friday, after having fallen 48% this year through Thursday's close.
- Coursera (COUR) is soaring after the online education company reported second-quarter results that beat expectations and raised its full-year revenue forecast. It saw revenue at $188 million to $192 million, beating the estimate $182.4 million. It also sees adjusted Ebitda $10 million to $14 million, after an estimate of $10.7 million.

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On this episode of Stock Movers:
- Intel (INTC) shares are lower as CEO Lip-Bu Tan sparked concerns that he is more focused on cost cutting than restoring the company's technological edge. Tan said the company will cancel some factory projects and take a more conservative approach to future spending, calling investments begun under his predecessor "excessive and unwise." Intel will reduce capital expenditures and has laid off thousands of employees, with plans to cut staff by 15% and end the year with 75,000 employees.
- Deckers (DECK) share are higher in the premarket as net sales for Ugg and Hoka surpassed analysts' estimates in the fiscal first quarter ended June 30, with Ugg sales rising about 19% and Hoka increasing roughly 20%. The company's shares jumped as much as 12% in premarket trading on Friday, after having fallen 48% this year through Thursday's close.
- Centene (CNC) is lower after the health insurer reported adjusted loss per share for the second quarter, surprising analysts who’d forecasted a profit. The company also reported higher medical costs in the second quarter than Wall Street’s expectations.
- Volkswagen (VWAGY) shares are up after its CEO said he expects US tariffs to come down to a more manageable level, bolstering the export-reliant automaker after it tallied up €1.3 billion ($1.53 billion) in expenses in the first half due to President Donald Trump’s trade war. CEO Oliver Blume said he expected European Union and US negotiators to eventually agree on duties of around 15%, from the 27.5% the car industry faces currently. The German manufacturer is also pursuing a separate offset with the Trump administration in return for raising its spending in the country.

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On this episode of Stock Movers:
- Puma plunged after the German brand slashed its profit forecast in the face of weak demand for its sports and exercise gear and growing concerns about the impact of US tariffs.
- Remy Cointreau SA lifted its profit guidance for the year, as sales of Cognac in the US rebounded and it avoided the most punitive impact of tariffs in China.
- Carrefour SA is selling its Italian operations for an enterprise value of about €1 billion as Chief Executive Officer Alexandre Bompard leans on asset disposals to bolster the French supermarket chain’s performance.

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On this edition of Stock Movers:

- West Pharmaceutical Services (WST) shares advanced as much as 28%, a record one-day climb, after the maker of packaging components for the drug industry boosted its adjusted profit and net sales outlook for the full year. 

- Chipotle Mexican Grill (CMG) shares plunged after cutting its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven’t been enough to offset a traffic slump that the company attributed to economic anxiety. Sales at established restaurants are now expected to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. The shares tumbled as much as 14% in New York, their biggest intraday drop since March 2020. The stock was down 12% this year through Wednesday’s close, among the worst performers in US restaurants. Chipotle had already cut its annual guidance earlier this year after economic uncertainty, among other factors, dinged results.

- Southwest Airlines (LUV) shares fell after the carrier said it expects economic turmoil to wipe out as much as $1 billion of its annual pre-tax profit this year and offered shareholders a much-reduced outlook for the balance of 2025. Earnings before interest and taxes for the year will be $600 million to $800 million, Southwest said in a statement on Wednesday that also included second-quarter results that fell short of analyst expectations. The carrier originally expected $1.7 billion in pre-tax profit at the start of the year. Southwest is one of a few companies so far to put a price on the fallout from President Donald Trump’s efforts to reset global trade, inflation and economic uncertainty that caused travel demand to collapse early this year. Most carriers pulled financial guidance in April, saying it was impossible to forecast demand.

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- Alphabet's (GOOG) earnings beat Wednesday was the latest milestone in what’s been an explosive run since early 2023, during which the company has added more than $1 trillion in market value and returned about 120% to investors. It’s also made its CEO, Sundar Pichai, a billionaire. With Alphabet’s shares approaching an all-time high, Pichai, 53, is now worth $1.1 billion, according to the Bloomberg Billionaires Index. That’s a rare feat for a non-founding chief executive officer, especially in a tech industry where many top executives — including Meta Platforms Inc.’s Mark Zuckerberg and Nvidia Corp.’s Jensen Huang — owe their fortunes to founding equity stakes in their companies. Shares closed higher today.

- Tesla (TSLA) shares fell as 9.5%, the most intraday since June 5, after Elon Musk warned of a hard year ahead for the electric-vehicle maker. Analysts note that the company’s near-term outlook looks rough. Tesla will be a transition period for the next year or more, losing electric vehicle incentives in the US and needing time to roll out autonomous vehicles, the chief executive officer said. “Yeah, we probably could have a few rough quarters,” Musk said. “But once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”

- Intel (INTC) gave a stronger-than-anticipated revenue forecast for the current period, offering investors a glimmer of hope as they wait for a turnaround under new Chief Executive Officer Lip-Bu Tan. Third-quarter sales will be $12.6 billion to $13.6 billion, the company said in a statement Thursday. Analysts on average had projected a number at the low end of that range. Intel is benefiting from a resurgence in the personal-computer industry, driven in part by manufacturers’ efforts to build up inventory before tariffs hit. But the Silicon Valley pioneer still faces a variety of challenges. It has lost market share to rivals and is struggling to attract customers to its foundry business, which makes chips for outside clients. It also lacks products that can satisfy the massive demand for AI systems. Shares of Intel rose after the bell.

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On this edition of Stock Movers:

- Tesla (TSLA) shares are tumbling after the company reported a second straight quarter of declining auto sales. CEO Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker’s worst stretches since it first started producing electric sedans over a dozen years ago. Tesla will be in a transition period for the next year or more, losing electric vehicle incentives in the US and needing time to roll out autonomous vehicles, the chief executive officer said. "We probably could have a few rough quarters,” Musk said. “But once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.” Tesla shares fell as Musk spoke after the close of US trading. The move carried over into Thursday, with the stock dropping as much as 9.5% shortly after the open.

- UnitedHealth Group Inc. (UNH) shares fell after the insurance giant is responding to criminal and civil requests from the US Department of Justice about its Medicare practices, the company said, confirming reports of probes that have added to mounting challenges for the largest US health insurer. The company is cooperating with the department and has “full confidence” in its practices, UnitedHealth said in a filing Thursday. The company contacted the Justice Department after reports of the investigations surfaced in the media, and received the requests after reaching out, the company said. “The company has a long record of responsible conduct and effective compliance,” UnitedHealth said in the filing. Shares fell 3.3% at the start of regular trading in New York on Thursday.

- Chipotle Mexican Grill Inc. (CMG) shares plunged after the restaurant chain is cutting its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven’t been enough to offset a traffic slump that the company attributed to economic anxiety. Sales at established restaurants are now expected to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. The shares tumbled as much as 14% in New York, their biggest intraday drop since March 2020. The stock was down 12% this year through Wednesday’s close, among the worst performers in US restaurants.

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On this episode of Stock Movers:
- Alphabet (GOOGL) shares rise after the company said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending — heightening pressure on the company to justify the cost of keeping up in the AI race.
- Las Vegas Sands (LVS) shares climb after the casino and resorts operator reported adjusted earnings per share for the second quarter that beat the average analyst estimate. Analysts attribute the beat to a solid performance in Singapore offsetting weakness in Macau.
- UnitedHealth (UNH) shares fall. UnitedHealth is responding to criminal and civil requests from the US Department of Justice about its Medicare practices, the company said, and has "full confidence" in its practices.

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On this episode of Stock Movers:
- American Eagle (AEO) shares gain after the apparel retailer announced a campaign headlined by actress Sydney Sweeney. The campaign was announced during the trading day on Wednesday; shares closed up 6.2%
- Tesla (TSLA) shares fall after Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker’s worst stretches since it first started producing electric sedans over a dozen years ago.
- Chipotle (CMG) shares sink. The restaurant chain cut its full-year outlook for the second time this year. Analysts note that a weaker comparable store sales in the quarter pressured its full-year sales outlook.

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On this episode of Stock Movers:
- American Airlines (AAL) is lower after it reinstated annual earnings guidance in a lower range than expected, with results for 2025 ranging from an adjusted loss of 20 cents a share to a profit of as much as 80 cents. The carrier's outlook for the rest of the year diverged from new forecasts from United Airlines Holdings Inc. and Delta Air Lines Inc. as businesses and consumers resume travel.
- Chipotle (CMG) is down after it cut its annual outlook for the second time this year, citing a traffic slump attributed to economic anxiety. The company said sales at established restaurants are now expected to be about flat for the full year, after previously forecasting a low-single digit expansion. CEO Scott Boatwright said lower-income consumers are under pressure and looking for value, disregarding Chipotle's key selling points such as quality, fresh, and abundance.
- American Eagle (AEO) shares jump 16% in premarket trading on Thursday, putting the stock on track to extend gains, after the apparel retailer announced a campaign headlined by actress Sydney Sweeney. The stock move accelerated during after-hours trading and continued to rally Thursday morning, soaring as much as 25% premarket before paring some of those gains.
- IBM (IBM) is lower this morning after it reported weaker-than-expected sales in its software segment, with second-quarter software unit sales increasing 10% to $7.39 billion. The company's management has heralded software and services as the path to rejuvenation, with software now more than 40% of the company's annual revenue, and bookings for the AI business have exceeded $7.5 billion since mid-2023.

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On this episode of Stock Movers:
- Alphabet (GOOG) is trending higher after yesterday's earnings beat. Alphabet said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending. CEO Sundar Pichai explained that the investments are necessary in order to keep up with customer needs, saying "Our AI infrastructure investments are crucial to meeting the growth in demand from cloud customers". Chipmakers Nvidia (NVDA) and Broadcom (AVGO) are rising on this news.
- Tesla (TSLA) is lower in premarket trading after seeing a decline yesterday from its earnings miss. CEO Elon Musk did warn of difficult times ahead for Tesla after one of the automaker’s worst quarters in over a decade. Musk said Tesla will be in a transition period for the next year or more, losing electric vehicle incentives in the US and needing time to roll out autonomous vehicles.
- IBM (IBM) is lower this morning after it reported weaker-than-expected sales in its software segment, with second-quarter software unit sales increasing 10% to $7.39 billion. The company's management has heralded software and services as the path to rejuvenation, with software now more than 40% of the company's annual revenue, and bookings for the AI business have exceeded $7.5 billion since mid-2023.
- T-Mobile (TMUS) is higher this morning as it reported more new subscribers than analysts were expecting in the second quarter, with 830,000 new monthly phone customers. T-Mobile's CEO Mike Sievert said the company's satellite-based texting and data service will help attract and retain customers in the long term, and the company raised its full-year guidance due to its joint venture with KKR & Co.

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On this episode of Stock Movers:
- Reckitt's shares surged to the highest in almost 17 months after the consumer goods company said its biggest brands will grow more than forecast, a sign its plan to revive the business is working.
- STMicro's shares plunged the most in a year after the chipmaker posted a surprise loss due to restructuring charges.
- BNP Paribas reported better-than-expected profit as the French lender got a boost from its fixed-income traders while equities slumped in the volatility triggered by the US tariff announcements.

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- Meme stock mania is spreading to a growing number of speculative stocks, underscoring the appetite among retail traders for riskier bets even with the market at all-time highs. Chatter across social media platforms first fixed on Opendoor Technologies Inc. (OPEN) but has since expanded to other heavily discounted names like Kohl’s Corp. (KSS), GoPro Inc. (GPRO) and Krispy Kreme Inc. (DNUT), sending them all flying to eye-popping rallies. While the number of stocks being drawn into the frenzy is growing, the rallies have been volatile and often short lived, raising questions about whether the companies will be able to take advantage of their elevated share prices to raise fresh capital, the way that AMC Entertainment Holdings Inc. (AMC) and GameStop Corp. (GME) did during the original meme stock craze of 2021. Krispy Kreme, for example, rose as much as 39% when the market opened Wednesday, but closed just 4.6% higher.   

- Thermo Fisher (TMO) shares jumped after the company raised its full year outlook as it no longer expects tariffs to bite as much as when it issued the forecast. "The US-China tariff situation has improved significantly versus our prior guidance assumptions,” Chief Financial Officer Stephen Williamson said during a call with analysts. “We reflected the Q2 benefit of that in our revised guidance. "Sales will be $43.6 billion to $44.2 billion this year, up $120 million from its previous view, Williamson said during a conference call. Analysts had expected $43.7 billion. The company also raised its profit view by 23 cents at the mid-point of its new target range.   

- Chipotle Mexican Grill (CMG) shares tumbled after the restaurant chain cut its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven’t been enough to offset a traffic slump. Chipotle now expects sales at established restaurants to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. Chipotle had already cut its annual guidance earlier this year after economic uncertainty, among other factors, dinged results. The Mexican-inspired chain has deployed everything from a limited-time launch of honey chicken to an adobo ranch sauce and free food to reel customers in. But transactions still slumped, driving a comparable sales decline of 4% in the quarter, which was a steeper decline than analysts were expecting.

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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 Scarlet Fu, Vonnie Quinn, Carol Massar and Tim Stenovec.
- Alphabet (GOOG) reported better-than-expected revenue but said 2025 capital expenditures will be higher than previously forecast, intensifying pressure on the company to justify the investments it is making to keep up in the AI race. Shares slipped about 2.8% in late trading after the search giant said capital expenditures would be $85 billion, compared to the $75 billion the company guided earlier this year. Second-quarter sales, excluding partner payouts, were $81.7 billion, the Google parent said Wednesday in a statement. Analysts had projected $79.6 billion on average, according to data compiled by Bloomberg.
- Opendoor (OPEN) had a down day as the newest meme stocks see wild swings. Stocks are at all-time highs. Chatter on WallStreetBets is surging. Retail traders are flooding into low-priced shares. It’s not 2021, and the shares of the moment aren’t GameStop Corp., AMC Entertainment Holdings Inc. or the now-bankrupt Bed Bath & Beyond. In 2025’s meme stock mania, the companies du jour are Opendoor Technologies Inc. and Kohl’s Corp. The similarities are clear: Like the episode four years ago, which famously led Gabe Plotkin to shutter his hedge fund Melvin Capital Management, amateur traders are piling into heavily shorted companies with low share prices in a bid to strike quick riches. And, as was the case back then, it comes at a time of broad market euphoria: the S&P 500 is at an all-time high, Bitcoin has doubled in less than year and blank-check companies are all the rage again.
- IBM (IBM) reported weaker-than-expected sales in its closely watched software segment, disappointing investors who have grown increasingly optimistic about the business.Second-quarter software unit sales increased 10% to $7.39 billion, slightly below analysts’ average estimate of $7.49 billion. The company’s consulting business, which has been experiencing a growth slump, generated a revenue bump of 3% to $5.31 billion.Investors have grown enthusiastic about IBM’s software business and the potential for future growth from artificial intelligence tools and quantum computing. The company’s management has heralded software and services as the path to rejuvenation since the 1990s. However, only recently under Chief Executive Officer Arvind Krishna has the approach really begun to materialize.

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