Stock Movers

On this edition of Stock Movers:
- Uber (UBER) shares rose after the ride-hailing company said in a press release that it will be partnering with Alphabet Inc’s Waymo to offer ride-sharing through autonomous vehicles in Atlanta. In addition, Lime, the Uber-backed electric bike startup, has hired investment banks to prepare for a US initial public offering, according to a report from Reuters.
- Galaxy Digital (GLXY) shares were higher after Rosenblatt Securities started coverage on the crypto company with a buy rating and $25 price target. Rosenblatt Securities analyst Chris Brendler writes that while the company “would likely underperform in the next ‘crypto winter’, GLXY has proven its resiliency in prior cycles,” and “we think a major downturn is unlikely near term and GLXY has arguably never been better positioned."
- McDonald's (MCD) and Krispy Kreme (DNUT) announced the two companies will end their partnership on July 2, citing challenges in achieving a sustainable business model. Krispy Kreme shares initially fell before recovering and McDonald's shares closes modestly higher.

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On this episode of Stock Movers:
- Tesla (TSLA) shares are higher this morning. Tesla’s CEO Elon Musk has tied the company’s future to driverless taxis and the tentative launch of the service in Austin yesterday is helping lift the company’s stock ahead of the open. It fell on Monday, even as the broader S&P 500 gained but rallied overnight. That’s pushing up the consumer discretionary sector
- Uber (UBER) is rising this morning on news it will begin offering driverless Waymo rides in Atlanta, making it the second market where the two companies are teaming up instead of competing against each other. Uber has struck more than a dozen AV partnerships globally, and the performance of the Atlanta tie-up with Waymo will be crucial in efforts to convince Wall Street that it can be the go-to commercial platform for driverless carmakers.
- Mastercard (MA) is up on news that it's deepening its partnership with Fiserv (FI) to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. Mastercard says people and businesses can use the new, programmable, blockchain-based token across more than 150 million merchants.
- Circle (CRCL) is moving to the downside after the stablecoin issuer was initiated at Compass Point Research & Trading with a recommendation of neutral as competition is expected to increase after US stablecoin legislation was passed. Analyst Ed Engel sees Circle’s USDC stablecoin having long-term advantages from tech and liquidity but sees a growing threat of new entrants and declining gross margins

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On this episode of Stock Movers:
- ExxonMobil (XOM) is lower this morning along with other major oil giants like Chevron (CVX) as the US, Israel, and Iran work toward a truce. President Trump called on Israel to stop dropping bombs on Iran, calling it a “major violation” of a fragile ceasefire between the two countries he announced just hours beforehand. Moments earlier, Trump told reporters he believed both Israel and Iran had violated the ceasefire but said he believed the fragile truce which was already being tested would hold.
- Newmont Corp. (NEM) is following oil lower as commodities drop on news of a truce. “I think they both violated it,” Trump said as he departed the White House to attend the NATO summit at The Hague. But when asked if the ceasefire was breaking, Trump responded “I don’t think so.”
- Lockheed Martin (LMT) is down today following commodity stocks lower. The fragile truce followed an extraordinary night in which Tehran retaliated against a US attack by launching missiles at an American air base in Qatar, with no casualties reported.
- Fiserv (FI) shares are higher this morning after Mastercard deepened its partnership with Fiserv to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. Mastercard says people and businesses can use the new, programmable, blockchain-based token across more than 150 million merchants

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On this episode of Stock Movers:
- Stoxx 600 Energy index is down 2.9%, the worst-performing sector in Europe today
- Several Persian Gulf states, including Qatar and the United Arab Emirates, have reopened their airspace and resumed operations at some of the world’s busiest airports
- Defense suppliers are sliding again after significant declines on Monday

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Tesla (TSLA) shares climbed after the automaker rolled out its long-promised driverless taxi service to a handful of riders, a modest debut for what Elon Musk sees as a transformative new business line. The first robotaxi trips were limited to a narrow portion of Tesla’s hometown of Austin on Sunday, with an employee sitting in the front passenger seat of each vehicle to monitor for safety. The carmaker hand-picked a friendly group of retail investors and social-media influencers to serve as initial riders and live-stream their trips.

- Circle (CRCL) shares extended gains for a third consecutive session after the Senate passed stablecoin legislation last week.

- Hims & Hers (HIMS) shares dropped following news that Novo Nordisk was scrapping a partnership with the upstart telehealth platform after less than two months. Hims, a telehealth platform, wasn’t stepping back enough from its practice of mass marketing off-brand imitations of the weight-loss medicine, Novo executives said.“The big issue with Hims is that we had an agreement that the mass compounding would stop and unfortunately it didn’t stop,” said Ludovic Helfgott, executive vice president of product and portfolio strategy at Novo, in an interview. “That’s why we ended the partnership.” In a post on X, Hims Chief Executive Officer Andrew Dudum called Novo executive comments “misleading.” He said Novo had been pressuring Hims to “steer patients to Wegovy regardless of whether it was clinically best for patients.”

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On this edition of Stock Movers:

- Norwegian Cruise Line (NCLH) shares fell following worries on the ongoing conflict in the Middle East and how it might impact oil prices. Carnival (CCL) is set to report earnings tomorrow, which could give a read on how travelers are feeling.

- Constellation Energy Corporation (CEG) shares rose on word that New York state is pushing to build a nuclear power plant to meet growing demand for clean energy, the first major US reactor project in more than a decade. Governor Kathy Hochul is directing the New York Power Authority to develop and build at least 1 gigawatt of nuclear capacity, enough to power a million homes. Multiple communities upstate are already lining up to host the project, she said Monday during a speech at the Niagara Falls hydroelectric plant.

- Estee Lauder (EL) shares gained after Deutsche Bank upgraded the cosmetics company to buy from hold due to increasing evidence that the firm is diversifying beyond China for future growth. Deutsche Bank analyst Stephen Powers says Estee Lauder’s investment requirements have been mostly fulfilled to the point where top-line growth can be better leveraged to the benefit of margin and profit recovery going forward

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On this episode of Stock Movers:
- Quantum Computing (QUBT) an innovative, integrated photonics and quantum optics technology company, today announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 14,035,089 shares of common stock in a private placement at a purchase price of $14.25 per share.
- Fiserv (FI) shares rose as much as 4.5% after the financial-technology company said it plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the company’s press release
- Exelixis (EXEL) shares soars as much as 23% to the highest level since July 2000, after the maker of cancer drugs said topline data for its metastatic colorectal cancer treatment had met one of the dual primary endpoints in the intent-to-treat population.

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On this episode of Stock Movers:
- Tesla (TSLA) shares rise after roll out its long-promised driverless taxi service to a handful of riders Sunday, a modest debut for what Elon Musk sees as a transformative new business line.

-Northern Trust (NTRS) shares rise after Bank of New York Mellon approached Northern Trust last week to express interest in a possible merger

-Estee Lauder (EL) shares rise after Deutsche Bank upgrades the cosmetics company to buy from hold

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On this episode of Stock Movers:
- Northern Trust (NTRS) shares are higher this morning on a WSJ report that Bank of New York Mellon approached it to express interest in a possible merger, which would be a megadeal for the US financial services industry. A tie-up would bring together two of the largest custodian banks in the world, with a combined entity's scale that would help it compete with global asset managers like BlackRock Inc. and Vanguard. BNY has been in the midst of an overhaul aimed at cutting costs and streamlining the institution, and a merger with Northern Trust could help cut Northern Trust's expenses by 20% to 30%.
- American Airlines (AAL) is today along with United Airlines (UAL) amid uncertainty surrounding the geopolitical conflict in the Middle East. Major global airlines have extended flight cancellations to the Persian Gulf, disrupting air traffic to critical hubs such as Dubai, after the US struck nuclear sites in Iran and Tehran vowed to retaliate. The disruptions have affected major travel hubs, with potential risks to global airline traffic, and have led to precautions such as evacuations and route changes by some companies and airlines.
- ExxonMobil (XOM) is moving to the upside this morning amid rising oil prices from the latest developments in the Israel-Iran conflict. The conflict has raised concerns about oil prices and inflation, with oil rising by nearly 6% and US stock futures declining, and has also led to warnings about the risk to global energy supplies and the closure of the Strait of Hormuz.
- Hims & Hers (HIMS) shares are sliding after Novo Nordisk ended its partnership with the telehealth platform that has been selling compounded obesity drugs, newswire MarketWire reports, citing a statement from the Danish company.
- Fiserv Inc. (FI) is also in the green this morning after the Wall Street Journal reported the financial-technology company’s plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the Journal.

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On this episode of Stock Movers:
- ExxonMobil (XOM) is moving to the upside this morning amid rising oil prices from the latest developments in the Israel-Iran conflict. The conflict has raised concerns about oil prices and inflation, with oil rising by nearly 6% and US stock futures declining, and has also led to warnings about the risk to global energy supplies and the closure of the Strait of Hormuz.

- RTX Corp. (RTX) is higher this morning along with other defense stocks due to rising geopolitical risk in the Middle East. Iran vowed retaliation and continued attacks on Israel following US strikes on its nuclear facilities, fueling fears of a wider war in the Middle East and rattling global markets.

- Lockheed Martin (LMT) is also riding high this morning following RTX and other defense stocks. The US operation over the weekend targeted nuclear sites at Fordow, Natanz, and Isfahan, and included 125 aircraft, strikes by Tomahawk missiles, and the use of 14 Massive Ordnance Penetrator bombs.

- Fiserv Inc. (FI) is also in the green this morning after the Wall Street Journal reported the financial-technology company’s plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the Journal.

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On this episode of Stock Movers:

- Airlines all in the red as British Airways and Singapore Airlines canceled flights to the Persian Gulf, increasing aviation disruptions in the region

- The Stoxx 600 energy sector is the best performer on Monday, up 0.3% while the broader market is little changed by 9:07 a.m. in Frankfurt

- European defense stocks are mostly falling, though a Bloomberg index is still up almost 70% YTD

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Meta Platforms has made at $14.3 billion investment in Scale AI and recruited the startup’s chief executive officer to join its artificial intelligence efforts. That investment represents at 49% stake in Scale AI and a 3x premium to recent industry deals.  

For more on the deal, Paul Sweeney and Alix Steel speak with Bloomberg Intelligence Senior Analyst Mandeep Singh.

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JetBlue Airways Corp. plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo.   

The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday.   

JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer.   

For more on JetBlue, Carol Massar and Tim Stenovec speak with Bloomberg's Mary Schlangenstein.

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On this episode of Stock Movers:

- Coinbase (COIN) rallied 27% this week, becoming the biggest weekly gainer in the S&P. Coinbase secured its Markets in Crypto Assets license from the Luxembourg Commission de Surveillance du Secteur Financier, enabling the company to offer a full suite of crypto products to all 27 EU member states. The company also introduced Coinbase payments for commerce platforms, the first full-stack stablecoin payment solution built for commerce platforms at scale.

- Circle (CRCL) shares jumped 20% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday.

- Solar stocks like Enphase Energy (ENPH) and First Solar (FSLR) declined this week. Earlier in the week, Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, prompting downgrades for the sector at KeyBanc. The new version of the bill would end incentives for wind and solar in 2028, though tax breaks for other sources of power including nuclear, hydropower and geothermal would be allowed to remain until being phased out in 2036.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Circle (CRCL) shares soared after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday.

- Kroger (KR) shares were higher after its sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials despite economic turbulence. The nation’s largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting. The company also raised its full-year sales guidance to a range of 2.25% to 3.25%. It reaffirmed the rest of its outlook. Chief Financial Officer David Kennerley told analysts on the company’s conference call that Kroger has seen an improvement in grocery volumes in recent quarters, which contributed to growth in the latest quarter. Kroger expects further volume expansion over the rest of 2025. Interim Chief Executive Officer Ronald Sargent said he’s optimistic about the rest of the year while citing broader economic uncertainty.

- Nvidia (NVDA) shares slumped, along with shares throughout the chip sector on the Wall Street Journal's reporting that a top US official told chipmakers that it's possible waivers they've used to access American technology in China could end up revoked.

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On this edition of Stock Movers:

- KBR (KBR) shares dropped nearly 9%, the most since early November after the engineering company announced its role in the US Transportation Command (TRANSCOM)'s Global Household Goods Contract, which is designed to improve the moving system for military service members and their families. KBR was involved in the contract in a joint venture with HomeSafe Alliance. Bloomberg Intelligence analyst Scott Levine says the termination of the contract may reflect risks to government service providers due to efficiency initiatives imposed by the Trump administration.

- Circle (CRCL) shares rose as much as 17% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading early this month. Optimism around stablecoin regulations has driven the strength. Seaport analyst Jeff Cantwell sees the global stablecoin market having the potential to reach $2 trillion at some point, from about $260 billion now. That would translate into annual revenue growth of 25%-30% for Circle, he wrote in a note to clients Friday.

- Kroger (KR) sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials despite economic turbulence. The nation’s largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting. The company also raised its full-year sales guidance to a range of 2.25% to 3.25%. It reaffirmed the rest of its outlook. Chief Financial Officer David Kennerley told analysts on the company’s conference call that Kroger has seen an improvement in grocery volumes in recent quarters, which contributed to growth in the latest quarter. Kroger expects further volume expansion over the rest of 2025. Shares of the supermarket operator rose.

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On this episode of Stock Movers:
- Smith & Wesson Brands (SWBI) sinkafter the firearm company reported adjusted earnings per share for the fourth quarter that missed the average analyst estimate.
- Kroger’s (KR) sales surpassed expectations during the latest quarter, a sign that consumers are still spending on groceries and other essentials even amid economic turbulence. The nation’s largest supermarket operator said its comparable sales, excluding fuel, rose 3.2% — better than what Wall Street analysts were expecting. The company also raised its full-year sales guidance to a range of 2.25% to 3.25%, but reaffirmed the rest of its outlook.
- GMS (GMS) shares rise after the Wall Street Journal reported that Home Depot has made an offer for the building materials firm, potentially setting off a bidding war with QXO which made a $5 billion offer earlier in the week

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On this episode of Stock Movers:
- CarMax (KMX) shares rise after comparable sales and earnings per share for the first quarter that beat consensus estimates.
- Darden (DRI) share rise after the company reported comparable sales growth for the fourth quarter that topped the average analyst estimate.
- Circle (CRCL) shares rise after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar.

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On this episode of Stock Movers:
- CarMax (KMX) shares rise 10% ahead of the bell after the used-car seller reported comparable sales and earnings per share for the first quarter that beat consensus estimates.
- Shares of Darden (DRI,) the parent company of casual dining chains Olive Garden and LongHorn Steakhouse, are up 3.3% in premarket trading after the company reported comparable sales growth for the fourth quarter that topped the average analyst estimate. The company’s board also authorized a new share repurchase program worth up to $1 billion of common stock.
- Accenture (ANC) shares are down 4% in premarket trading, after the IT services company reported its third-quarter results and gave an outlook. Analysts highlighted bookings as a weak spot of the print.
- Circle Internet Group (CRCL) shares are set to extend gains, rising 14% in premarket trading. The stablecoin issuer rallied almost 34% on Wednesday after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar.

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On this episode of Stock Movers:

- CarMax (KMX) reported earnings per share for the first quarter that beat the average analyst estimate.

- Circle Internet Group (CRCL) shares are set to extend gains, rising 14% in premarket trading. The stablecoin issuer rallied almost 34% on Wednesday after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar.

- Home Depot (HD) has made an offer for GMS Inc., potentially setting off a bidding war with QXO Inc. which this week made a $5 billion offer for the building-products distributor, the Wall Street Journal reported Thursday. The offer from Home Depot, the world’s largest home-improvement retailer, is for an undetermined sum, the Journal said, citing people with knowledge of the matter.

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Meta Platforms Inc. has finalized a multibillion-dollar investment in Scale AI and recruited the startup’s chief executive officer to join its artificial intelligence efforts — an unusual deal that signals a heightened push by the social media giant to catch up on AI development.   

Meta said Thursday that it has backed Scale, without including details. The size of the investment was $14.3 billion, according to a person familiar with the matter. The deal values the startup at more than $29 billion, including the money raised, Scale said in a blog post Thursday.   

As part of the investment, Scale CEO and co-founder Alexandr Wang is set to take on a new role at Meta on its AI team. Wang will join the company’s “superintelligence” unit, focused on building AI that performs as well as humans, a hypothetical advance often referred to as artificial general intelligence. Wang will stay on at Scale as a board member.   


Carol Massar and Tim Stenovec discuss the move with Bloomberg Opinion Columnist Dave Lee, who wrote the following column on the matter:   

(Bloomberg Opinion) -- It sounded like something that should have come from the sports desk — a $14.3 billion transfer fee for a young up-and-coming prospect as Meta Platforms Inc. looks to rebuild its team for the tough season ahead. The head coach is an under-pressure Mark Zuckerberg, and the hot talent is Alexandr Wang, 28. His company is Scale AI, and Meta is taking a 49% stake, it was confirmed last week. 

Were this an acquisition, it would be the second largest in Meta’s history after its $19 billion purchase of WhatsApp in 2014. But it’s not an acquisition, so don’t call it that, even though it bears many of the hallmarks of one. 

Wang is going to join Meta as a top executive tasked with running a crack team to build an AI superintelligence, sitting next to Zuckerberg at Meta’s headquarters. Other Scale AI employees will join, too, according to multiple reports. So — definitely not an acquisition, just an investment that also includes putting the the company’s top talent on Meta’s payroll. Meanwhile, Meta has been trying to poach AI talent from Google and OpenAI with the promise of “seven- to nine-figure” salaries, the New York Times reported. 

In its defense, Meta is hardly a pioneer here. As Bloomberg Tech’s Jackie Davalos mentioned in her analysis, this kind of squad building is becoming a regular occurrence. Microsoft Corp. signed Inflection AI’s co-founders; Alphabet Inc. hired Character.AI’s founders; Amazon.com Inc. took on Adept AI’s chief executive officer. On none of these occasions did they acquire the actual companies.

Two forces are driving this approach. The first, glaringly, is that the big companies are particularly keen to avoid being seen to be making acquisitions right now when judges are deep in consideration over whether earlier actions, such as Meta’s purchases of Instagram and WhatsApp, should be deemed illegal. For Meta, structuring the Scale AI deal as an investment means avoiding a long, turbulent timeline that would come with a buyout effort.

But the second factor is what I find more interesting. Ever since the launch of ChatGPT, there’s been no shortage of soul-searching among big tech firms as to why they didn’t get there first. How could it be that the pioneering work was done outside of their campuses by individuals and companies with relative pennies compared with their R&D budgets? The reason, as evidenced by these hirings and investments, is the very nature of bigness. Now that the big tech companies are mature businesses, never has their inability to move quickly and take risks been more apparent.

Does an Alexandr Wang find success at a place like Meta had he been hired as a young engineer? A company with 77,000 employees and a fierce focus on keeping Wall Street happy? One that’s run by a CEO he would likely have never been able to meet, let alone be able to influence?

Startups have always had an upper hand in this way, for sure, but the low barrier to entry for those with bright AI ideas means it has never been easier to attract attention. But then what? Founders are finding themselves staring at unfathomably large data center costs to scale their businesses. When a hyperscaler like Meta comes knocking, it can look like the only sensible way forward.

So the startup ecosystem may now behave like the minor leagues. Feeder clubs that are a breeding ground for talent wait in the wings of the bigger teams with the deepest pockets. The talent leaves, but the club remains. In what form isn’t quite clear, though at least investors get their money back. 

The approach may seem expensive, but it is certainly fast. Why would tech giants, seeking tighter headcounts these days, try to incubate these talents when they could just sit back and wait for special geniuses to make themselves known? Of course, there’s a risk of losing talent to a competitor — hence the jacking up of compensation to levels that only the biggest companies could afford, consolidating AI expertise in just a few of the usual places. (At the same time, some smaller companies may not want to be a feeder club and might feel unfairly treated as homegrown talent disappears after receiving an email from Zuckerberg offering $10 million to sign on — which is maybe just the beginning.)

We’ll see just how long this approach remains possible. As Axios’ Dan Primack has pointed out, antitrust authorities do have the power to go after these kinds of deals if they want. The Federal Trade Commission last year announced it was looking into them — just because they are not acquisitions doesn’t mean they can’t and won’t be scrutinized. But for Meta and its peers, that’s tomorrow’s concern. Today means assembling a squad as quickly as possible.

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On this episode of Stock Movers:
-Whitbread reported comparable sales for the first quarter of -1%.

- Hays slumps as much as 20%, the most in nine years, sending the staffing firm’s shares to their lowest since October 2008. The company released an unscheduled update, saying that current tough market conditions would persist into FY26, with permanent recruitment activity levels especially weak.

- European luxury stocks drop, led by Richemont and Swatch, after a report showed Swiss watch exports fell 9.5% in May, driven by US downturn following a strong month of April.

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On this episode of Stock Movers:

- Stablecoin issuer Circle (CRCL) shares rose as much as 9.8% on Wednesday after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar. The stablecoin vote is the industry’s most tangible return yet on the hundreds of millions of dollars it poured into electing a crypto-friendly Congress. As of the last close, the stock has risen more than 380% from its IPO price of $31. Visa (V) and Mastercard (MA) both fell as much as 5% amid continued worries about the impact of stablecoins on the credit-card issuers.

- Marvell Technology (MRVL) also rallied today. Analysts are now positive on the chip maker after first quarter earnings that came in line with expectations. Following an event focused on AI, Marvell raised its overall data center total addressable market to $94 billion by 2028, up from $75 billion.

- Netflix (NFLX) is up 38% year-to-date today after an announcement that the streamer will add live television channels and shows from French broadcaster TF1, expanding Netflix's live offerings for customers in the country. French customers will be be able to watch live feeds, including sports, from TF1’s channels, and stream the broadcaster’s shows on demand from next summer, Netflix said in a statement on Wednesday. Netflix will dedicate a portion of the app to TF1 content as part of the distribution agreement.
Netflix is expanding the content it offers customers and has invested in live events such as National Football League games and wrestling matches. The French partnership goes a step further, offering traditional live broadcast content such as dramas and reality television.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Coinbase (COIN) inked a deal to have the world’s second-biggest stablecoin, USDC, used as collateral in US futures trading. The cryptocurrency exchange is also expanding its payment offerings, including integrating USDC on ecommerce merchant sites. Coinbase Derivatives is partnering with clearing house Nodal Clear to work with regulators on what it expects to be the first regulated use of USDC as collateral, according to an announcement on Coinbase’s website Wednesday. Circle Internet Group Inc., of which Coinbase owns a minority stake, is the issuer behind USDC. The stablecoin — essentially a digital asset designed to hold a steady value — has a $61.5 billion market capitalization, per tracker CoinMarketCap.com. Shares rallied on the news.

- Uber (UBER) shares fell as shares of Lyft after Alphabet's Waymo applied for a permit to test its robotaxis in New York City, underscoring its intent to operate in one of the largest ride-hailing markets in the US despite an absence of local regulations supporting commercially operated autonomous vehicles.The company has applied for a permit with the city’s Department of Transportation to operate its vehicles autonomously in Manhattan with a trained human specialist supervising behind the wheel, spokesperson Ethan Teicher said in a statement Wednesday.

- Visa (V) and Mastercard (MA) shares both fell amid fears of increased competition from stablecoins and what it could mean for the credit card industry. after White House crypto czar David Sacks told Bloomberg Television that stablecoin legislation would cause the asset class to grow and create demand for the US dollar

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On this episode of Stock Movers:
- Norwegian Cruise (NCLH) falls as Argus cuts on demand vulnerability
-Netflix (NFLX) shares rise since they announced that they will add live television channels and shows from French broadcaster TF1, expanding the streaming platform’s live offer for customers in the country.
- Circle (CRCL) shares rise after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar.

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On this episode of Stock Movers:
- Marvell Technology (MRVL) shares surge with analysts positive on the chipmaker following an event focused on AI. At the event, Marvell raised its overall data center total addressable market to $94 billion by 2028, up from $75 billion.
- Circle Internet Group (CRCL) shares rise after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar.
- Constellation Brands (STZ) shares are little changed after Citi analyst Filippo Falorni cut the target on Constellation Brands Inc. Class A to $170 from $190.

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On this episode of Stock Movers:
- Circle Internet Group (CRCL) shares gained this morning after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The stablecoin vote is the industry’s most tangible return yet on the hundreds of millions of dollars it poured into electing a crypto-friendly Congress. Circle is a stablecoin issuer.
- Airbus (EADSY) is on the move this morning as it is targeting higher dividend payments to shareholders, raising its dividend ratio range from 30-40% to 30-50%. The company reiterated its 2025 guidance, expecting to generate over €1 billion in earnings before interest and taxes in each of its divisions by 2028. Arbus aims to deliver 820 aircraft this year, an increase from 2024 but below its pre-Covid peak of 863 planes in 2019.
- Peloton (PTON) shares are rebounding after yesterday's tumble. Fitness stocks fell yesterday after a Senate bill omitted the House’s proposed provisions allowing for the use of Health Savings Accounts (HSAs) for certain fitness allowances. Yesterday, Peloton shares slump 11%, Planet Fitness drops 2.2%, and Xponential is down 5.4%. The House’s version of the bill “allows for gym memberships and other physical fitness activities to be paid for with HSAs, up to a limit of $500 per year for individuals and $1,000 per year for families,” KeyBanc analyst Scott Schoenhaus writes in a note.
- Amazon (AMZN) is moving slightly on news that CEO Andy Jassy expects the company's workforce to decline in the next few years as it uses artificial intelligence to handle more tasks. Jassy says the company will need fewer people doing some jobs and more people doing other types of jobs, with AI expected to bring efficiency gains and reduce the total corporate workforce.

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On this episode of Stock Movers:

- Circle Internet Group (CRCL) shares gained this morning after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The stablecoin vote is the industry’s most tangible return yet on the hundreds of millions of dollars it poured into electing a crypto-friendly Congress. Circle is a stablecoin issuer.

- Peloton (PTON) shares are rebounding after yesterday's tumble. Fitness stocks fell yesterday after a Senate bill omitted the House’s proposed provisions allowing for the use of Health Savings Accounts (HSAs) for certain fitness allowances. Yesterday, Peloton shares slump 11%, Planet Fitness drops 2.2%, and Xponential is down 5.4%. The House’s version of the bill “allows for gym memberships and other physical fitness activities to be paid for with HSAs, up to a limit of $500 per year for individuals and $1,000 per year for families,” KeyBanc analyst Scott Schoenhaus writes in a note.

- Amazon (AMZN) is moving slightly on news that CEO Andy Jassy expects the company's workforce to decline in the next few years as it uses artificial intelligence to handle more tasks. Jassy says the company will need fewer people doing some jobs and more people doing other types of jobs, with AI expected to bring efficiency gains and reduce the total corporate workforce.

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On this episode of Stock Movers:
- Airbus shares rise as much as 2.3% after the planemaker said it was extending the upper range of its dividend payout ratio to 30-50% from the current level of 30-40%.
- Gerresheimer said KPS Capital Partners is still in discussions with Warburg Pincus. Talks on a potential takeover “are open-ended,” Gerresheimer said
- UBS shares fell 1.7%, the worst performer in the Stoxx 600 Financial Services Index, after Morgan Stanley cut its recommendation on the Swiss lender to underweight from equalweight, saying that new capital demands imposed by Switzerland will impact shareholder returns.

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On this episode of Stock Movers:

- JetBlue (JBLU) plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo. The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday. 
JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer.
“We’re hopeful demand and bookings will rebound, but even a recovery won’t fully offset the ground we’ve lost this year and our path back to profitability will take longer than we’d hoped,” Geraghty said. “That means we’re still relying on borrowed cash to keep the airline running.”

- Humana (HUM) shares were up as much as 4%, the most intraday in a month, as analysts are positive on the health insurer following its investor day event where it gave updates regarding expectations for earnings growth through 2028. KeyBanc Capital Markets says the investor day provided “a clear picture” of the earnings power of the business and how the company plans to unlock margins by 2028.

- Solar stocks, like Sunrun (RUN), SolarEdge (SEDG) and Enphase (ENPH) fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick. The new version of the bill released by the Senate Finance Committee would end incentives for wind and solar in 2028. Tax breaks for other sources of power, such as nuclear, hydropower and geothermal, would be allowed to remain until being phased out in 2036, according to a summary of the legislation.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Jabil (JBL) shares are up 2.9% in premarket trading, after the manufacturing services company reported third-quarter results that beat expectations and raised its full-year forecast.
JPMorgan writes that the report shows “robust revenue trends,” which “was primarily driven by the Intelligent Infrastructure segment, which we believe is led by share gains with the primary customer in Cloud compute.” The report “also highlights stable or positive trends across cyclical end markets, with Regulated Industries and Connected Living & Digital Commerce tracking in line with better than prior guide, and will be a pleasant surprise for investors relative to the general pessimism relative to the macro.”

- Fluence Energy (FLNC) shares climbed as much as 19%, the most intraday in over a month, after the Senate Finance Committee released its version of a budget reconciliation bill that JPMorgan analysts believe is positive for energy storage firms.
“Energy storage is exempt from the phase-down, meaning that full credits would remain in place as written in current law,” JPMorgan analyst Mark Strouse writes. The tax bill did phase down tax credits for solars, which is weighing on the shares on Tuesday.

- Verve Therapeutics (VERV) shares soared 82% in premarket trading after the Financial Times reported that Eli Lilly is in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Shares in Eli Lilly edge lower, falling 1.1%. The deal could be announced as soon as this week, FT reported.
BMO Capital Markets analyst Evan David Seigerman is cautious on potential acquisition of Verve by Lilly, as he would “question the ultimate commercial viability of gene editing for primary care conditions.” Verve shares closed at $6.3 in New York on Monday; up 11% year-to-date.

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On this edition of Stock Movers:

- JetBlue (JBLU) plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo. The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday.
JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer. Shares initially rallied before paring gains.

- Solar stocks, like Sunrun (RUN), SolarEdge (SEDG) and Enphase (ENPH) fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick. The new version of the bill released by the Senate Finance Committee would end incentives for wind and solar in 2028. Tax breaks for other sources of power, such as nuclear, hydropower and geothermal, would be allowed to remain until being phased out in 2036, according to a summary of the legislation.

- Surgery Partners (SGRY) shares tumbled as much as 14%, the most intraday since November 2024, after the company turned down a buyout proposal from Bain Capital, with its independent committee concluding that its long-term value as a standalone public company outweighs Bain’s offer. The company also reaffirmed its revenue forecast for the full year.

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On this episode of Stock Movers:
- 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.
- Lennar (LEN) shares rise after a miss on the homebuilder’s new orders outlook was tempered by better-than-expected gross margins, which RBC Capital Markets said should reassure investors.
- Surgery Partners (SGRY) shares slide after the company turned down a buyout proposal from Bain Capital, with its independent committee concluding that its long-term value as a standalone public company outweighs Bain’s offer.

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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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On this episode of Stock Movers:
- Lennar (LEN) is edging higher after a miss on the homebuilder’s new orders outlook was tempered by better-than-expected gross margins, which RBC Capital Markets said should reassure investors. Analysts including Mike Dahl say Lennar’s results came in better than feared on gross margin percentage with orders modestly missing, while the guide for a flat quarter-on-quarter gross margin percentage also surprised on the upside. Lennar’s second-quarter adjusted earning per share missed consensus estimates with higher selling, general, and administrative expenses and lower average selling price, but gross margins in-line, write analysts including Matthew Bouley of Barclays.
- Sunrun (RUN) shares are sinking in the premarket. It comes as KeyBanc Capital Markets analyst Sophie Karp cut the recommendation on Sunrun Inc. to underweight from sector weight. Investors who followed Karp's recommendation received a 0% return in the past year, compared with a negative 27% return on the shares.
- Verve Therapeutics (VERV) is soaring following a Financial Times report that Eli Lilly is reportedly in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Eli Lilly (LLY) is lower on M&A news. Eli Lilly would pay almost $1 billion upfront and another $300 million based on Verve reaching clinical milestones, according to FT.
- T-Mobile (TMUS) is sliding this morning after a report that SoftBank raised around $4.8 billion through a sale of 21.5 million T-Mobile US Inc. shares at $224 each. The deal represents a 3% discount to T-Mobile US's Monday closing price of $230.99 per share and is the biggest US share sale since February.

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On this episode of Stock Movers:
- Lockheed Martin (LTM) is leading defense stocks higher this morning amid growing tensions in the Middle East. The conflict between Israel and Iran continues, with both sides exchanging strikes, and Trump has not ruled out further talks or sending a high-level official to meet with Iran.

- Conoco Phillips (COP) is higher this morning along with other energy stocks amid the Israel-Iran conflict. The situation remains volatile, with global markets still fearful of the war spreading to other countries in the oil- and gas-producing region, and the US deploying an aircraft carrier strike group to the Middle East ahead of schedule. The risk of oil-driven price pressures adds to the uncertainty facing central banks, with Federal Reserve officials signaling a prolonged pause in interest rates and investors watching for clues about what could eventually prompt a policy move.

- Eli Lilly (LLY) is lower on M&A news that the company is looking to buy Verve Therapeutics, according to a report from the Financial Times. Eli Lilly is reportedly in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Eli Lilly would pay almost $1 billion upfront and another $300 million based on Verve reaching clinical milestones, according to FT.

- T-Mobile (TMUS) is sliding this morning after a report that SoftBank raised around $4.8 billion through a sale of 21.5 million T-Mobile US Inc. shares at $224 each. The deal represents a 3% discount to T-Mobile US's Monday closing price of $230.99 per share and is the biggest US share sale since February.

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On this episode of Stock Movers:

- Banco Sabadell is considering a sale of its UK unit TSB, the latest twist in a year-long effort to defend itself against a takeover by rival BBVA

.
- Clean energy stocks including Vestas and Orsted fall in Europe after US Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, and make only modest changes to most other incentives.

- An Apollo Global Management Inc. investment vehicle sold its entire 21.3% stake in Italian betting firm Lottomatica Group Spa on Monday, leading a €2.3 billion ($2.7 billion) wave of European block trades as investors capitalized on the market’s bounce.

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On this edition of Stock Movers:

- Coty (COTY) climbed after Women’s Wear Daily reports that the beauty company is looking for buyers. Citi analyst Filippo Falorni writes: “we acknowledge the possibility of M&A, especially given COTY’s valuation, progress on debt deleverage over the last several years with the potential for value unlock from the sale of its Wella stake”

- MGM (MGM) Resorts shares gained, as well as shares in Entain, after BetMGM, the sports betting platform the two companies jointly own, raised its full-year guidance. 

- Lockheed Martin (LMT) shares fell on word that a deal between the US and China on rare earths wouldn't include Lockheed Martin's F-35 planes.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- AMD (AMD) shares jumps as much as 10% amid a broad rally in semiconductor stocks as Piper Sandler said products unveiled last week were positive and expects a "snapback" for the GPU business this year.

- Warner Bros. (WBD) shares rose on the word it won enough support from creditors to overhaul its debt as part of a plan to split into two separate companies, a significant victory for the entertainment giant as it tries to turn itself around. The company said last week that it’s dividing into two separate corporations, one focusing on streaming and movie studios, and the other on cable television channels. As part of that division, it said it’s looking to buy back some $14.6 billion of bonds, and to switch the terms on remaining debt to give it more flexibility to shift around assets in the future, among other changes.

- Lockheed Martin (LMT) shares slumped on the day after a report that its F-35 planes wouldn't be included in a rare earths deal between the US and China. After the closing bell, the defense firm named Craig Martell its new chief technology officer.

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On this edition of Stock Movers:
- Boeing (BA) shares are higher after the planemaker said it’s made more progress in the past four to five months on the long-delayed new presidential aircraft than at any point in the last four years as it identifies ways to streamline the complex program. “As we go forward, we have been able to see our way through some of these requirements that were just physically impossible to do,” Steve Parker, the interim head of Boeing’s defense business, told journalists at the Paris Air Show on Monday. “We’re just making really, really good progress.” The pair of new Air Force One jets have suffered cost overruns and delays because of the complexities associated with building an aircraft that needs to perform secure missions, withstand possible missile attacks and function as a de-facto White House in the sky.
- Roku (ROKU) shares jumped after the company announced a partnership with Amazon Ads, saying that advertisers will now have access to more than 80% of US households with connected TV though the Amazon DSP marketing tool. The partnership “enhances addressability” across services including the Roku Channel, Prime Video and other companies’ streaming platforms, according to the statement announcing the move.
- American Express (AXP) shares are up after it teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its “largest investment ever” in a credit-card refresh. “We’re going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,” Howard Grosfield, Amex’s group president for US consumer services, said in a statement Monday. Amex raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Since then, the New York-based company has faced intensifying competition for premium credit-card customers, including from JPMorgan Chase & Co.’s Sapphire Reserve card and Capital One Financial Corp.’s Venture X Rewards card. The Amex update will apply to both the US consumer and business Platinum cards, the company said. It didn’t provide more specifics on what changes are coming.

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On this episode of Stock Movers:
- ConocoPhilips (COP) shares fall after the Wall Street Journal reported earlier that Iran has signaled it wanted to de-escalate hostilities with Israel.Meanwhile Reuters is reporting Iran is seeking for President Trump to press Israel for an immediate ceasefire and is offering flexibility in nuclear talks.
- AMD (AMD) shares rise after Piper Sandler raised the price target to $140 from $125. It's a 21% increase from the current price. Analysts said products unveiled last week were positive and expects a “snapback” for the graphics processing unit business in the fourth quarter.
- Meta (META) shares gain after news that Whatsapp will show ads in the Updates tab, which gets 1.5 billion visitors per day, according to Meta. WhatsApp will also let Channel operators sell subscriptions, meaning they can create special messages just for a group of paying customers.

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On this episode of Stock Movers:
- T-Mobile (TMUS) shares fall after news that President Donald Trump is launching a Trump-branded mobile phone service, that will rely on wireless networks and hardware that is “made in America.”
- MGM (MGM) shares rise after sports betting joint venture BetMGM raised its net revenue and Ebitda guidance for fiscal year 2025, following strong second-quarter trading.
- Incyte (INCY) shares gain after the drugmaker gave clinical data from two trials of its experimental therapy to treat a blood disorder, which is impressing Wall Street.

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On this episode of Stock Movers:
- EchoStar (SATS) is soaring this morning as President Trump urges the company to make a deal with the FCC for its wireless spectrum licenses. The president met with EchoStar Chairman Charlie Ergen and Carr at the White House, encouraging them to work together and reach a deal. The FCC is investigating whether EchoStar is meeting obligations for its wireless and satellite spectrum rights, and the company has been skipping bond coupon payments and considering filing for bankruptcy.
- US Steel (X) is rallying today as Nippon Steel secured approval from President Trump to purchase United States Steel Corp. for $14.1 billion, its biggest ever overseas bet. The deal comes with significant concessions to the US government, including a "golden share" that gives Washington a say in major decisions and control over some board seats, and a promise to invest $14 billion over the coming years.
- Roche (RHHBY) is slightly down, but its partner Sarpeta Therapeutics (SRPT) is plunging on news that a second patient has died of acute liver failure while being treated with Sarepta Therapeutics Inc.'s gene therapy for a rare muscle disorder, following a similar death three months prior. The development has cast a pall over Sarpeta's most important drug and will intensify scrutiny on the FDA over its decision to approve it, despite a lack of data showing it slows overall progression of the disease.
- Victoria's Secret (VSCO) is up on news Barington Capital Group has built a stake in Victoria's Secret & Co. and plans to urge changes to its board and strategy. The company is under pressure to grow sales amid new competition, and its shares have declined 56% this year through Friday. The company has faced challenges, including tariffs, weakening consumer spending, and a security incident that took its e-commerce operation offline, affecting its goal to regain dominance in bras.

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On this episode of Stock Movers:

- Marathon Petroleum (MPC) is higher this morning as it beats out oil giants like Chevron and Exxon, as companies with more exposure to the United States share picture are gaining. The conflict between Israel and Iran has caused damage to the US consulate in Tel Aviv, and has led to a rise in global energy prices, with Brent crude gaining 5.5% in Asia trading on Monday.

- Palantir (PLTR) shares are higher today as defensive plays rally in a market concerned about geopolitical risk. Investors are worried about inflation and geopolitical risks, which could propel yields higher, but companies considered defensive stocks are rallying. Hostilities between Israel and Iran have entered a fourth day, with no sign of easing. 

- US Steel (X) is rallying today as Nippon Steel secured approval from President Trump to purchase United States Steel Corp. for $14.1 billion, its biggest ever overseas bet. The deal comes with significant concessions to the US government, including a "golden share" that gives Washington a say in major decisions and control over some board seats, and a promise to invest $14 billion over the coming years.

- Newmont Corp. (NEM) is a downside mover this morning as gold prices drop after a big rally Friday amid heightened global tensions. In the premarket this morning, the S&P 500 contracts rose 0.5% as dip-buyers moved in, while European and Asian stocks also advanced, and gold slipped 0.5% from an all-time high.

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On this episode of Stock Movers:

- Halliburton (HAL), along with shares in several energy and oil companies, rose toward the end of the week on heightened tensions in the Middle East. Iran fired hundreds of ballistic missiles against Israel following an unprecedented direct attack on its nuclear facilities, ramping up a conflict between sworn enemies that threatens to engulf the Middle East and disrupt global oil supplies. Multiple waves of missiles targeting Israeli cities amount to the most forceful step yet by Tehran since Israel’s overnight raids killed top Iranian generals and badly damaged key military infrastructure. Israel said it identified missiles launched from the Islamic Republic and reported explosions from interceptions and falling debris from incoming projectiles. There was dramatic video footage of at least one large explosion in Tel Aviv, and reports of explosions over Jerusalem.

- Smuckers (SJM) declined the most in nearly four decades after saying US tariffs increasing costs in its coffee business will hurt profit, continuing a challenging run for the biggest US packaged food producers. The company, which owns the Folgers and Cafe Bustelo coffee brands, said adjusted earnings this fiscal year will be as much as $9.50 a share. The impact of higher coffee costs and US levies reduced that forecast by roughly $1 a share, Smuckers said.
Shares sank 16% on Tuesday in New York, the biggest drop in data compiled by Bloomberg that extends back to 1988. The stock had risen about 1.6% this year through Monday’s close, less than the S&P 500 Index’s gain of roughly 2%.

- Oracle (ORCL) shares soared to a record high after the software maker projected a 70% gain in cloud infrastructure sales this fiscal year, giving a bullish outlook for the closely watched business. The company, long known for its database software, has been gaining traction in its effort to become a major player in the business of cloud computing — renting out computing power and storage — by targeting clients focused on artificial intelligence work. Earlier this year, it announced a joint venture dubbed Stargate to provide OpenAI with massive sums of computing power. The shares gained 13% to $199.85 at the close on Thursday in New York, marking the biggest single-day increase in a year. Oracle had already climbed 17% in the last month as investors grew more optimistic that tariffs and other geopolitical issues wouldn’t disrupt the software industry.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Lockheed Martin (LMT) shares of Lockheed Martin, as well as other defense stocks rose as investors reacted to rising tensions in the Middle East. Iran fired hundreds of missiles in retaliation for Israel’s airstrikes that targeted Tehran’s military and nuclear infrastructure, broadening a conflict that threatens to engulf the region and roil global markets. Israel said it identified missiles launched from the Islamic Republic and reported explosions from interceptions and falling debris from incoming projectiles. US forces are helping to intercept and shoot down the Iranian missiles, according to American and Israeli officials.

- Oracle (ORCL) shares extended a two-day rally in the wake of a better-than-expected earnings report, even amid a broad selloff sparked by Israel's attack on Iran and Iran's counterstrikes.

- Adobe (ADBE) shares shares fell the most in three months after the creative-software company gave a sales outlook for the current quarter that failed to calm investors who have been skeptical it can hold its own against AI-focused upstarts. Adobe has become a central focus of investors debating whether artificial intelligence tools will disrupt traditional software industry leaders. Design applications like those from Canva Inc. and image-creation tools from AI firm Midjourney Inc. have gained steam while Adobe has weaved generative AI tools through its products, including Photoshop. In February, it introduced separate subscriptions for its AI video generator, trying to compete with similar tools from rivals including OpenAI and Runway.

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On this episode of Stock Movers:
- Lockheed Martin (LMT) shares rise. Earlier this week, there was a report that the Department of Defense will cut its order of F-35s by half. Thursday, the Congressional Budget Office found that operating and support costs of F-35 fighter jets stabilized after a period of decline. That was in response to President Trump's order in April to review all major defense acquisition programs.
- Oracle (ORCL) shares gain. The stock was raised to outperform from market perform at BMO Capital Markets, citing confidence that the software company can grow its operating income.
- Visa (V) shares drop after the Wall Street Journal reported large merchants, including Walmart and Amazon.com, are exploring how to issue or use stablecoins to bypass the traditional fees of card-based systems.

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On this episode of Stock Movers:
- United Airlines (UAL) shares fall. Inflation data this week showed Airline fares fell 2.7% in May, the fourth straight month of declines. Bloomberg Intelligence analysts note Major US airlines are below the S&P 500 this year, though United is among the leaders in that sector due to its premium-demand models.
- Diamondback (FANG) shares rise. Bloomberg Intelligence analysts say Israel's strike against Iran puts focus back on a longer-term risk premium in oil prices and away from the demand concerns due to global trade tensions.
- Adobe (ADBE) shares drop after 2Q results beat estimates and the company raised its full-year forecasts, but analysts remain concerned about its AI business. Bloomberg Intelligence notes on the bright side that it's results show the stickiness of creative and document products, but Jeffries points out that there may not be enough progress on the AI front to appease the bears.

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On this episode of Stock Movers:
- Exxon (XOM) shares are higher this morning as Israel strikes Iran. Oil prices surged double digits after Israel carried out strikes against Iran, raising fears of a wider war in the region. The Strait of Hormuz, a critical oil chokepoint, is a key concern, with the potential for Tehran to retaliate and block the strait, and OPEC+ spare capacity potentially being challenged in such a scenario.
- RTX Corp. (RTX) is higher this morning along with other defense stocks on the S&P as geopolitical tensions rise over Israel's strikes on Iran. It launched airstrikes against Iran’s nuclear program and ballistic-missile sites renewed a standoff between two adversaries that risks spiraling into a wider conflict. While the reaction was strongest in crude oil, other pockets of the market suggested that investors are watching how long the tensions will last and whether the situation escalates.
- Newmont Corp. (NEM) shares are higher this morning as gold's risk premium is lifted by Israel's attack on Iran. According to Bloomberg Intelligence, Israel's attack on Iran could trigger a further jump in gold's risk premium above fair value of $100-$150 an ounce, pushing the metal beyond $3,600. Gold is expensive vs. almost every other financial yardstick and appears overvalued by $200-$700 an ounce vs. our three regression models, yet it's likely to remain a lead indicator.
- Adobe (ADBE) shares are down in premarket trading on Friday, after the maker of software for creative-arts professionals reported second-quarter results that beat expectations. While it also raised its full-year forecast for some metrics, it affirmed its full-year growth forecast for annualized recurring revenue for its digital media business. Analysts said the results won’t quiet concerns over Adobe’s AI business or the impact of competition from other AI services.

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On this episode of Stock Movers:

- Raytheon (RTX) is higher this morning along with other defense stocks on the S&P as geopolitical tensions rise over Israel's strikes on Iran. It launched airstrikes against Iran’s nuclear program and ballistic-missile sites renewed a standoff between two adversaries that risks spiraling into a wider conflict. While the reaction was strongest in crude oil, other pockets of the market suggested that investors are watching how long the tensions will last and whether the situation escalates.

- Chevron (CVX) shares are higher this morning as Israel strikes Iran. Oil prices surged double digits after Israel carried out strikes against Iran, raising fears of a wider war in the region. The Strait of Hormuz, a critical oil chokepoint, is a key concern, with the potential for Tehran to retaliate and block the strait, and OPEC+ spare capacity potentially being challenged in such a scenario.

- Newmont Corp. (NEM) shares are higher this morning as gold's risk premium is lifted by Israel's attack on Iran. According to Bloomberg Intelligence, Israel's attack on Iran could trigger a further jump in gold's risk premium above fair value of $100-$150 an ounce, pushing the metal beyond $3,600. Gold is expensive vs. almost every other financial yardstick and appears overvalued by $200-$700 an ounce vs. our three regression models, yet it's likely to remain a lead indicator.

- US Steel (X) shares are lower in premarket trading after Nikkei reported that Nippon Steel’s planned takeover of the US company may not proceed if the Japanese company has insufficient freedom of management. Nippon Steel continues to seek condition that US steel becomes wholly owned, Nikkei reported citing an unidentified executive

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