Stock Movers

On this episode of Stock Movers:

- Defense plays and shippers are gaining, as Israel Defense Forces said Iran launched more than 100 drones.

 - European airlines are the worst performing European sector Friday after Israel mounted waves of airstrikes against Iran.

- Energy stocks are being lifted by a surge in oil prices following ongoing Middle-East tensions.

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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.

- 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.

- Boeing (BA) as investors digested the news that of the Boeing plane that crashed in India. The Air India flight was bound for London, and the crash killed all but one of the 242 people on board the Boeing Dreamliner, making it the deadliest aviation accident in more than a decade. The airline confirmed that 241 of those on the London-bound flight had died. The sole survivor is being treated in a hospital, the carrier said. Officials earlier said that emergency responders had recovered more than 200 bodies at the crash site, though they didn’t immediately say how many were passengers, crew or area residents. They said the toll could rise as emergency workers comb through the wreckage.

- GameStop (GME) the largest standalone video-game retailer in the US, will focus on growing its trading card business, Chief Executive Officer Ryan Cohen said at the company’s annual shareholder meeting Thursday. The business of Pokémon and sports trading cards “is in line with our heritage,” Cohen said. “It fits our trade-in model, it appeals to our core customer base and it’s deeply embedded in physical retail.” GameStop investors have seen some dramatic share price swings since Cohen, the founder of online pet product retailer Chewy Inc., became chairman in 2021. The shares dropped more than 20% on Thursday after the company announced a $1.75 billion bond sale. The proceeds will be used for general corporate purposes, including investments and potential acquisitions, the company said.

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On this edition of Stock Movers:

- 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.

- Boeing (BA) shares slump after an Air India flight bound for London crashed Thursday, killing all but one of the 242 people on board the Boeing Co. Dreamliner in the deadliest aviation accident in more than a decade. The airline confirmed that 241 of those on the London-bound flight had died. The sole survivor is being treated in a hospital, the carrier said.

- GameStop (GME) shares tumble after the video game retailer announced plans for a $1.75 billion convertible notes offering to potentially fund its new bitcoin purchase strategy. The company also said they will focus on on growing its trading card business.

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On this edition of Stock Movers:

- GameStop (GME) shares plummeted today. The company had two developments. First, GameStop is focused on growing its trading card business. That is according to CEO Ryan Cohen. The business of Pokémon and sports trading cards “is in line with our heritage,” Cohen said. “It fits our trade-in model, it appeals to our core customer base and it’s deeply embedded in physical retail.” The second development is GameStop plans to offer $1.75 billion worth of convertible bonds, which would make the video-game retailer one of the year’s biggest issuers of the equity-linked securities.

- BioNTech (BNTX) agreed to buy former Covid vaccine rival CureVac NV (CVAC) for about $1.25 billion in an all-stock transaction that will boost its growing oncology business. CureVac investors will get approximately $5.46 in BioNTech shares for each CureVac one, the companies said Thursday. The price represents a 34% premium to CureVac’s closing share price on Wednesday. CureVac shareholders will own between 4% and 6% of BioNTech once the deal closes. Shares of BioNTech are flat while CureVac shares surged.

- 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.

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On this episode of Stock Movers:
- Boeing (BA) shares drop after 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors.
- GameSTOP (GME) shares dip after Hardware and Accessories net sales from the video game retailer missed Wall Street’s expectations.
- BioNteck (OXM) shares rose after agreeing to buy CureVac in an all-stock transaction to boost their growing oncology business.

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On this episode of Stock Movers:
- Boeing (BA) shares drop after 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors.
- Oracle (ORCL) shares rose after projecting cloud infrastructure sales will jump more than 70% in the current fiscal year, boosting investor enthusiasm for the closely watched business.
- Oxford Industries (OXM) shares fell after the owner of the Tommy Bahama apparel brand slashed its profit forecast for the fiscal year

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On this episode of Stock Movers:
- Boeing (BA) shares are lower this morning as a Boeing 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors. The crash occurred in a residential area and is considered one of the worst accidents involving the 787 Dreamliner, with Indian Prime Minister Narendra Modi calling it "heartbreaking beyond words".
- General Electric (GE) shares are following Boeing lower on the plane crash in India. The Boeing plane that crashed was powered by two General Electric Co. GEnx engines. GE Aerospace said in a post on X that it is assembling an emergency response team to go to India to support the investigation.
- Oracle shares (ORCL) jumped today after the software company reported fourth-quarter results that beat expectations as demand for AI infrastructure remains strong. Analysts were especially positive on remaining performance obligations (RPO). The CEO said she sees “dramatically higher” revenue growth in fiscal 2026.

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On this episode of Stock Movers:

- Boeing (BA) shares are lower this morning as a Boeing 787 Dreamliner aircraft operated by Air India crashed shortly after taking off in Ahmedabad, with 242 passengers and crew on board, and no reports of survivors. The crash occurred in a residential area and is considered one of the worst accidents involving the 787 Dreamliner, with Indian Prime Minister Narendra Modi calling it "heartbreaking beyond words".

- Airbus (AIR) shares are following Boeing lower on the plane crash in India. Boeing shares fell in premarket US trading, and the company is working to gather more information about the incident, which is the biggest commercial airline crash since 2014.

- American Airlines (AAL) is trading lower as well this morning following the crash. It tends to lead other American airliners lower, including Delta (DAL) and United (UAL) this morning.

- Alaska Airlines (ALK) are higher this morning as one of the few American airlines that are trending higher despite the crash. Alaska Airlines has less exposure to international flights than other American airliners.

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On this episode of Stock Movers:
- BE Semiconductor shares soar as much as 11% to the highest levels since January, after the chip equipment maker raised its long-term revenue and margin outlook ahead of its investor day.
- Airline stocks are among the worst performers in Europe, after US peers suffered sharp drops on Wednesday when data showed airfares slippping for the fourth straight month. Airlines also face the prospect of higher jet fuel costs, with crude prices up 3.6% on a two-day basis.
- Tesco Plc’s sales increased more than expected as the supermarket chain sold more premium and own-brand products.

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On this edition of Stock Movers:

- Oracle (ORCL) shares are up after the company projected cloud infrastructure sales will jump more than 70% in the fiscal year that began this month, boosting investor enthusiasm for the closely watched business. Oracle, long known for its database software, has been gaining in its effort to become a major player in the business of 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. It has also inked customers for the cloud business, including Elon Musk’s xAI and Meta Platforms Inc. Fiscal fourth-quarter total cloud sales increased 27% to $6.7 billion, in line with estimates. Cloud infrastructure revenue increased 52% to $3 billion, the company said Wednesday in a statement.

- Lockheed Martin (LMT) shares are down after the Air Force has cut in half its request to Congress for its signature F-35s, dealing a blow to Lockheed Martin Corp., the top US defense contractor. A Defense Department procurement request document sent to Capitol Hill this week asked for 24 of the planes, down from 48 that was forecast last year. The proposed cut is significant because the Air Force is the largest customer for the world’s biggest weapons program. The scaling back of the F-35 request may reflect one way the service is revising its funding for fiscal 2026 to comply with Defense Secretary Pete Hegseth’s plan to shift projected US military spending by 8% over the next five years.

- Starbucks (SBUX) shares are up after CEO Brian Niccol told the Financial Times earlier about the coffee chain's possible sale of a stake in its China business has drawn “a lot of interest,” The company is searching for a partner interested in expanding the chain from around 8,000 to 20,000 stores in China. Starbucks in no rush to close a deal and aims to have a “meaningful stake” in the operation

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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, David Gura and Norah Mulinda.

- Netflix (NFLX) shares soared today as investors like what CEO Greg Peters had to say at a conference in London. Speaking at the event, the streamer's leader said he was optimistic about Netflix's growth prospects despite President Donald Trump's threats to impose tariffs on the film industry.

- Lockheed Martin (LMT) shares fell as much as 7% on the news that the Air Force is cutting in half its request to Congress for F-35s. A Defense Department procurement request document sent to Capitol Hill this week asked for 24 of the planes, down from 48 that was forecast last year. The proposed cut is significant because the Air Force is the largest customer for the world’s biggest weapons program. The scaling back of the F-35 request may reflect one way the service is revising its funding for fiscal 2026 to comply with Defense Secretary Pete Hegseth’s plan to shift projected US military spending by 8% over the next five years.

- Vera Bradley (VRA) shares fell as much as 24%, a record drop, after the retailer suspends guidance and announced the departure of its CEO. The pulled guidance reflects executive and board leadership changes and “significant uncertainty surrounding the consumer environment,” the company said.

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On this episode of Stock Movers:
- Tesla (TSLA) shares rise after Tesla CEO Elon Musk said he regretted some of his posts about President Donald Trump last week. The two traded barbs on social media last week after Musk criticized the Republicans' tax bill.
- Lockheed Martin (LMT) shares drop after the Air Force cut its request for signature F-35s in half. That's down to 24 planes from 48 forecasted last year. The Air Force is the largest customer for Lockheed, which is the top US defense contractor.
- First Solar (FSLR) shares rise after Jefferies raised its recommendation on the solar technology company to buy from hold on speculation that Congress may support parts of the Inflation Reduction Act. Bloomberg Intelligence analysts note that the Senate will probably moderate some of the House's provisions related to the Inflation Reduction Act, and they see an 80% chance that a deal gets done by the August recess.

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On this episode of Stock Movers:
- Tesla (TESLA) shares rebounding as owner Elon Musk expressed regret on social media for his recent posts about President Donald Trump, saying they "went too far". The public feud between Musk and Trump was triggered by Musk's opposition to Trump's tax-cut bill, which posed a threat to Musk's wealth and caused Tesla's stock price to tumble. Meanwhile, the president told the New York Post this morning "I guess I could" in response to the possibility of mending relations with Musk.
- Lockheed Martin (LMT) shares are lower as the Air Force has reduced its request to Congress for F-35s from 48 to 24, a significant cut that may reflect the Defense Secretary's plan to reduce US military spending by 8% over the next five years. The F-35 program has faced criticism, including from Elon Musk and right-wing influencer Laura Loomer, who have questioned the need for manned fighter jets in an age of drones, with the program now valued at roughly $2 trillion.
- GameStop (GME) shares dipped in US premarket trading after Hardware and Accessories net sales from the video game retailer missed Wall Street’s expectations. Analysts say GameStop reported decent upside on 1Q earnings per share, as solid performance on margins and costs more than offset sluggish top-line trends.
- Chewy (CHWY) fell this morning after the pet food company’s gross margin and free cash flow fell short of expectations, as did its reiterated annual sales target.

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On this episode of Stock Movers:
- Tesla (TESLA) shares rebounding as owner Elon Musk expressed regret on social media for his recent posts about President Donald Trump, saying they "went too far". The public feud between Musk and Trump was triggered by Musk's opposition to Trump's tax-cut bill, which posed a threat to Musk's wealth and caused Tesla's stock price to tumble. Meanwhile, the president told the New York Post this morning "I guess I could" in response to the possibility of mending relations with Musk.
- Lockheed Martin (LMT) shares are lower as the Air Force has reduced its request to Congress for F-35s from 48 to 24, a significant cut that may reflect the Defense Secretary's plan to reduce US military spending by 8% over the next five years. The F-35 program has faced criticism, including from Elon Musk and right-wing influencer Laura Loomer, who have questioned the need for manned fighter jets in an age of drones, with the program now valued at roughly $2 trillion.
- General Motors (GM) shares are higher as it plans to invest $4 billion in its US plants over the next two years to boost output of top-selling gas-powered vehicles. The move will expand finished vehicle manufacturing at factories in Michigan, Kansas, and Tennessee, and shift production of models like the Chevrolet Silverado and GMC Sierra pickup trucks from Mexico to the US. The investments will allow GM to produce over 2 million vehicles in the US each year, reduce its reliance on Mexican factories, and add between 3,000 and 4,000 US jobs.
- Quantum Computing stocks are rising after Nvidia’s Jensen Huang said quantum computing is reaching an inflection point. The comments came only months after Huang had noted that “very useful” quantum computers are likely decades away. Among movers upward are D-Wave Quantum (QBTS), IonQ (IONQ), and Rigetti Computing (RGTI).

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Inditex Tumbles, UK Home Builders Higher, Demant Gains
On this episode of Stock Movers:
- Zara-owner Inditex SA reported a muted start to the second quarter and warned that foreign-exchange headwinds could have a greater impact on results this year than anticipated. Shares tumbled.
- Homebuilders more broadly are being bathed in a more positive sentiment thanks to UK government plans to spend more on affordable homes. Chancellor Rachel Reeves is today expected to detail plans to direct £39 billion of public money over 10 years to an affordable homes plan.
- Demant shares rise as much as 4%, to the highest since Jan. 31, after the Danish company agreed to acquire hearing-aid retailer KIND Group for €700m, or around DKK5.2b, on a cash and debt-free basis. Analysts say the deal is a good fit.

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On this edition of Stock Movers:

- JM Smucker (SJM) shares 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, Smucker said.

- McDonald's (MCD) shares slipped on Tuesday after Redburn Atlantic gave the burger chain its sole sell rating, saying shifting consumer patterns due to weight-loss drugs and inflation are cause for concern. Shares of McDonald’s fell as much as 1.8% to a March low on the downgrade, a two-notch cut from Redburn’s previous buy rating. Redburn held a buy rating on the stock since initiating coverage in 2023. As more Americans turn to GLP-1 drugs like Ozempic to lose weight, McDonald’s could see as much as a $428 million annual impact to revenue, representing about 1% of system sales, Redburn Atlantic analysts Chris Luyckx and Edward Lewis wrote. “A 1% drag today could easily build to 10% or more over time, particularly for brands skewed toward lower-income consumers or group occasions.”

- Steel shares such as Nucor (NUE) and Cleveland-Cliffs (CLF) dropped after Bloomberg News reported that US and Mexico are closing in on a deal that would remove President Donald Trump’s 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term. Trump hasn’t been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private. The people said the agreement hasn’t been finalized. Under its current terms, it would allow US buyers to import Mexican steel duty-free as long as they kept total shipments below a level based on historical trade volumes, according to the people. The new cap would be higher than what was allowed under a similar deal during Trump’s first term, they said, which was never a fixed figure but designed to “prevent surges.”

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On this edition of Stock Movers:

- JM Smucker (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, Smucker said. Shares sank as much as 14% on Tuesday in New York, the biggest intraday drop in data compiled by Bloomberg that extends back to 1988. The company generated about a third of its revenue from coffee last fiscal year. It raised prices for the beverage in May. And it expects to boost them again in August. Overall, prices will be up about 20% this year, Smucker said.

- McDonald's (MCD) shares slipped on Tuesday after Redburn Atlantic gave the burger chain its sole sell rating, saying shifting consumer patterns due to weight-loss drugs and inflation are cause for concern. Shares of McDonald’s fell as much as 1.7% in Tuesday trading on the downgrade, a two-notch cut from Redburn’s previous buy rating. Redburn held a buy rating on the stock since initiating coverage in 2023. As more Americans turn to GLP-1 drugs like Ozempic to lose weight, McDonald’s could see as much as a $428 million annual impact to revenue, representing about 1% of system sales, Redburn Atlantic analysts Chris Luyckx and Edward Lewis wrote. “A 1% drag today could easily build to 10% or more over time, particularly for brands skewed toward lower-income consumers or group occasions.”

- Circle (CRCL) shares fell for the first time since the stablecoin firm launched its IPO. Shares initially soared after the company debuted in trading last week, at one point sending the stock 247% above the IPO price.

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On this episode of Stock Movers:
- Paramount (PARA) shares are up after the company said it plans to cut several hundred employees on Tuesday due to a continuing decline in the cable-TV industry and the broader economic landscape. The move will affect about 3.5% of the media company’s US workforce, according to an internal memo sent to staff reviewed by Bloomberg.
- Apple (AAPL) shares rise after the company unveiled a new software redesign called Liquid Glass, which aims to make its device lineup more cohesive and useful, with a transparent menu and glassy look. The company also announced updates to its operating systems, including iOS 26, watchOS 26, and visionOS 26, which will provide a more uniform experience across devices.
- Meta (META) shares gain after news that Mark Zuckerberg is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who've met with him at his homes in Lake Tahoe and Palo Alto.

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On this episode of Stock Movers:
- JM Smucker (SJM) shares fall after the company said it expects adjusted earnings of up to $9.50 a share, reduced by $1 a share due to higher coffee costs and US tariffs. The company raised coffee prices in May and plans to do so again in August, which is expected to hurt demand this year.
-McDonalds (MCD) shares drop after Redburn Atlantic downgraded the company to a sell rating, citing concerns over shifting consumer patterns due to weight-loss drugs and inflation. The analyst estimates that the use of GLP-1 drugs like Ozempic could impact McDonald's revenue by $428 million annually, and potentially up to 10% or more over time.
-Novo Nordisk (NOVOB) shares rise after a report that Parvus Asset Management has built a stake in the company. Parvus is interested in influencing the appointment of a new CEO, as Novo Nordisk is set to replace its current CEO Lars Fruergaard Jorgensen.

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On this episode of Stock Movers:
- Taiwan Semiconductor Manufacturing Co. (TSMC) shares are higher this morning as the main chipmaker for Nvidia Corp. and Apple Inc., reported a 40% jump in May revenue after companies stockpiled chips in response to mounting trade uncertainty. The company's CEO last week reaffirmed the company’s guidance for sales to grow in the mid-20% range in US dollar terms in 2025. AI chip demand still outstrips supply, he told shareholders.
- Meta (META) shares are moving on news that CEO Mark Zuckerberg is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who've met with him at his homes in Lake Tahoe and Palo Alto. Zuckerberg aims to hire around 50 people for the new team, including a new head of AI research, and has rearranged desks at Meta's Menlo Park headquarters so the new staff will sit near him. Zuckerberg is building the team in tandem with a planned multi-billion dollar investment in Scale AI, which offers data services to help companies train their models and builds custom AI applications for businesses and governments.
- McDonald's (MCD) is lower on a downgrade this morning after Redburn downgrades the restaurant chain to sell from buy, saying weight-loss drugs are suppressing consumer appetites and presenting an under-appreciated longer-term threat. Redburn becomes the only broker that rates McDonald’s as sell among the 41 Wall Street analysts tracked by Bloomberg,.
- Uber (UBER) shares are climbing this morning as the ride sharing app and Wayve plan to run their first trial of fully autonomous vehicles in London, paving the way for commercial robotaxi services in the UK and beyond. The companies will collaborate with the UK government and Transport for London on the permitting and regulatory approval process prior to the launch of Level 4 fully autonomous vehicles. The UK will be the first market to host a pilot under the partnership Uber and Wayve struck last August, with the trial expected to begin in the spring of 2026.

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On this episode of Stock Movers:
- Diageo is considering options for its ownership of the Indian Premier League cricket franchise Royal Challengers Bengaluru, according to people familiar with the matter.
- UBS shares drop as much as 7.4%, the most in two months and erasing all of Friday’s gains that followed the Swiss government proposing new rules that could see the bank hold up to $26 billion in fresh capital. Vontobel analysts say it will impact the bank’s competitiveness.
- Activist hedge fund Parvus Asset Management is building a stake in Ozempic-maker Novo Nordisk, the Financial Times reports, citing unidentified people with knowledge of the details.

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- Robinhood Markets (HOOD) shares slipped after traders came to learn that the financial services platform was not being added to the S&P 500. Last week, traders were speculating Robinhood would be added to the index as part of the index’s quarterly rebalancing but shares duly slumped as much as 8.4% intraday before closing 2% lower on Monday, giving back some of their recent rally.
- Qualcomm (QCOM) rose Monday on the news that the semiconductor maker had agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4 billion in cash to expand its technology for artificial intelligence. The deal, which is still subject to regulatory and shareholder approval, is expected to close in the first quarter of 2026.
- Goodyear Tire (GT) shares jumped nearly 11% on Monday, after BNP Paribas Exane upgraded the tire seller to outperform from neutral, calling the company “a true tariffs winner” whose industry-low tariff exposure will drive “meaningful” earnings upside. Analyst James Picariello estimates Goodyear's tariff advantage drives an estimated 10.5 point relative cost advantage for the company.

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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.

- Warner Bros. Discovery (WBD) initially saw its shares rise on the word it's splitting itself in half, unshackling its fast-growing streaming business from the struggling legacy media channels and setting up two independent companies that could pursue deals on their own. The new Global Networks business will include entertainment, sports and dozens of cable television brands such as CNN, TNT and TBS and will be headed by Chief Financial Officer Gunnar Wiedenfels. It will hold a 20% stake in the other Streaming and Studios business, headed by Chief Executive Officer David Zaslav, and use proceeds from that entity as a way to cut debt, the company said in a statement on Monday. The move unwinds much of the 2022 merger that combined AT&T’s WarnerMedia, which houses iconic film studios and TV franchises, and Discovery Inc., home to nonfiction documentaries and reality TV. The deal created a company weighed down with debt at a time when cable TV, its largest business, was hemorrhaging viewers and advertising dollars.

 - Qualcomm (QCOM) shares rose after it agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4 billion in cash to expand its technology for artificial intelligence. The offer equates to about 183 pence per share for Alphawave, the companies said in a statement on Monday. That’s a 96% premium to the company’s share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks. The deal, which is still subject to regulatory and shareholder approval, is expected to close in the first quarter of 2026. Qualcomm Chief Executive Officer Cristiano Amon is looking to lessen the company’s reliance on the smartphone market, where growth has slowed, and push into new areas. Alphawave makes high-speed semiconductor and connectivity technology that can be used for data centers and AI applications, two growth areas in the chip industry that are being driven by demand for products like OpenAI’s ChatGPT.

- Apple (AAPL) shares fell after the keynote to the iPhone maker's Worldwide Developers Conference didn’t ease concerns about the company’s position with artificial intelligence. This was despite unveiling the most sweeping software redesign in its history, aiming to make the company’s device lineup more cohesive and useful, even while doing little to upgrade its struggling artificial intelligence platform. The new interface, called Liquid Glass, was introduced Monday at Apple’s annual Worldwide Developers Conference. The approach uses transparent menus and a glassy look, transforming the software on the company’s iPhone, iPad, Mac, TV platform, smartwatches and Vision Pro headset. The changes come as part of iOS 26, watchOS 26 and visionOS 26, which have been rebranded to mark the coming year rather than a version number. Apple also retooled its iPad software to make the device feel more like a Mac, something customers have long requested.

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On this episode of Stock Movers:

- Tesla (TSLA) shares fell after the EV-maker was hit with a pair of downgrades on Monday, underscoring mounting concerns on Wall Street about the electric-vehicle maker’s outlook following last week’s clash between Chief Executive Elon Musk and President Donald Trump. Both Argus Research and Baird cut the stock to the equivalent of hold ratings, cementing Tesla’s reputation as the least-loved megacap stock among analysts. Shares fell 1.6% in premarket trading.

- Meta (META) rose on the news over the weekend that it is in talks to make a multibillion-dollar investment into artificial intelligence startup Scale AI, according to people familiar with the matter. The financing could exceed $10 billion in value, some of the people said, making it one of the largest private company funding events of all time.
The terms of the deal are not finalized and could still change, according to the people, who asked not to be identified discussing private information. Scale AI, whose customers include Microsoft Corp. and OpenAI, provides data labeling services to help companies train machine-learning models and has become a key beneficiary of the generative AI boom. The startup was last valued at about $14 billion in 2024, in a funding round that included backing from Meta and Microsoft. Earlier this year, Bloomberg reported that Scale was in talks for a tender offer that would value it at $25 billion.

- Warner Bros. Discovery (WBD) shares slid after it announced it would be splitting itself in half, unshackling its fast-growing streaming business from the struggling legacy media channels and setting up two independent companies that could pursue deals on their own. The new Global Networks business will include entertainment, sports and dozens of cable television brands such as CNN, TNT and TBS and will be headed by Chief Financial Officer Gunnar Wiedenfels. It will hold a 20% stake in the other Streaming and Studios business, headed by Chief Executive Officer David Zaslav, and use proceeds from that entity as a way to cut debt, the company said in a statement on Monday. The move unwinds much of the 2022 merger that combined AT&T Inc.’s WarnerMedia, which houses iconic film studios and TV franchises, and Discovery Inc., home to nonfiction documentaries and reality TV. The deal created a company weighed down with debt at a time when cable TV, its largest business, was hemorrhaging viewers and advertising dollars.

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On this episode of Stock Movers:
- Aon (AON) shares drop ahead of its investor day. The company said management will reaffirm the firm’s 2025 guidance across all key financial metrics. Its 1Q earnings missed consensus on most key metrics including adjusted operating margin.
- Intuitive Surgical (ISRG) shares fall after Deutsche Bank cut the robotic-surgery company to sell from hold citing “significant” risks to its Instruments & Accessories business.
- Synchrony Financial (SYF) shares rise following a report that Walmart credit cards will once again be issued by the financial services firm. OnePay, a financial technology firm backed by Walmart, picked Synchrony to issue both a co-branded card that can be used outside Walmart as well as a private-label card that will be available just for purchases at the retailer.

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On this episode of Stock Movers:
- Warner Brothers Discovery (WBD) shares rise after the company said it will split its streaming and studios business and its TV networks operations by the middle of next year. The streaming and studios company will include Warner Brothers Television, the Motion Picture Group, DC Studios, HBO, and HBO Max.
- Qualcomm (QCOM) shares rise after the company reached an agreement to buy Alphawave for $2.4 billion. The offer equates to about 183 pence per share for Alphawave -- a 96% premium to the company’s share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks.
- Starbucks (SBUX) shares rise after the company announced price cuts for a slew of its tea-based beverages at its stores across China. It's the latest campaign to appeal to Chinese consumers for non-coffee offerings during summer.

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On this episode of Stock Movers:
- Warner Bros (WBD) is on the move this morning after announcing it will separate into two publicly traded businesses by the middle of next year, splitting its streaming and studios business and its TV networks operations. The streaming and studios company will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, and will be run by CEO David Zaslav.
- Apple (APPL) is up slightly this morning with the company's annual developer's conference, WWDC, may highlight the company's struggles with artificial intelligence, which could further weaken its shares. Apple's lack of progress in AI is seen as an existential risk, and its struggles in this area have been a significant headwind for the company, with shares down 19% this year.
- Tesla (TSLA) is continuing its slide as Baird downgraded the stock to neutral from outperform, noting that the recent share rally followed what was a fundamentally poor quarter for the EV maker. Analyst Ben Kallo attributes the recent rally partly to anticipation over the launch of a more affordable vehicle and a robotaxi service. Through Friday’s close, the shares are down about 27% this year.

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On this episode of Stock Movers:
- Tesla (TSLA) is continuing its slide as Baird downgraded the stock to neutral from outperform, noting that the recent share rally followed what was a fundamentally poor quarter for the EV maker. Analyst Ben Kallo attributes the recent rally partly to anticipation over the launch of a more affordable vehicle and a robotaxi service. Through Friday’s close, the shares are down about 27% this year
- Robinhood (HOOD) is falling this morning after S&P Dow Jones Indices said there were no announced membership changes in the S&P 500 or the S&P 1500 indexes, according to an emailed statement. Robinhood fell in post market trading as it was thought it would be added to the index.
- AppLovin (APP) shares are following Robinhood lower this morning after both stocks fell Friday on news neither would be added to the S&P 500 index.

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On this episode of Stock Movers:
- WPP Chief Executive Officer Mark Read is set to retire at the end of the year, kicking off a search for a successor at one of the world’s largest advertising agency groups as it grapples with slowing sales.
- Qualcomm has agreed to buy London-listed semiconductor company Alphawave for about $2.4 billion in cash to expand its technology for artificial intelligence.
- Telefonica and Masorange have held informal talks on a potential deal for Vodafone Spain, people familiar with the matter said, a move that could lead to further consolidation in the country’s telecom market.

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On this edition of Stock Movers:
- ON Semi (ON) rallied Tuesday as members on its management team spoke at the Bank of America 2025 Global Technology Conference. At the conference, CEO Hassane El-Khoury discussed that non-AI chips - which ON focuses on - could be heading toward a rebound. It was the best performing stock in the S&P 500.

- Norwegian Cruise (NCLH) shares were among the best performing stocks of the week. Investors sent the stock higher as the company's booking trends seem to be improving.

- Brown-Forman (BF/B) shares plummeted the most since 2008 after it reported results that trailed expectations while projecting a sales decline for the current fiscal year. The owner of Jack Daniel's brand also sees organic net sales, which strip out items such as currency fluctuations, declining in a low-single digit range for the fiscal year that runs through April 2026. Brown-Forman is anticipating a challenging operating environment this year, “with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty,” the company said in the earnings statement. The firm also cited potential impact from tariffs not yet in place.

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On this episode of Stock Movers:
- Lululemon (LULU) shares tumble after the company posted a second straight disappointing quarter, with projected sales and profit below analyst estimates, due to rising competition, new tariffs, and a shift away from yoga pants.
- Broadcom (AVGO) shares fall after the chipmaker gave a forecast that isn’t seen as strong enough to extend the stock’s recent strength. However, analysts note positive AI trends.
- Circle Internet Group (CRCL) shares rise after the company and its shareholders raised nearly $1.1 billion in an initial public offering that was upsized twice amid strong demand.

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On this episode of Stock Movers:
- Telsa (TSLA) shares are moving higher this morning as the possibility of easing tensions between owner Elon Musk and President Donald Trump takes shape. The dispute began over differences on the GOP tax legislation, with Musk opposing the bill and Trump accusing Musk of being motivated by self-interest. After Tesla shares tanked 14% and Musk's personal wealth dropped by $34 billion, Musk signaled a willingness to cool tensions with Trump, responding to a user's advice to "cool off and take a step back for a couple days" with "Good advice."
- Lululemon (LULU) share are plunging in premarket trading as the athletic wear maker is reducing its earnings per share outlook by about 2.5% for the full year. It also sees sales below analysts estimates. Lululemon is trying to manage supply chains affected by President Trump's trade wars, and its guidance assumes 30% tariffs on China and 10% on other countries, which could cause a "significant reduction" in profitability.
- Broadcom (AVGO) share are sinking this morning as the chip supplier to companies like Alphabet and Apple gave a lackluster revenue forecast for the current quarter. Analysts suggest that the Artificial Intelligence spending frenzy isn't as strong as some investors anticipated. Like Nvidia, the company is seen as a key beneficiary of a surge in AI spending.

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On this episode of Stock Movers:

 - Telsa (TSLA) shares are moving higher this morning as the possibility of easing tensions between owner Elon Musk and President Donald Trump takes shape. The dispute began over differences on the GOP tax legislation, with Musk opposing the bill and Trump accusing Musk of being motivated by self-interest. After Tesla shares tanked 14% and Musk's personal wealth dropped by $34 billion, Musk signaled a willingness to cool tensions with Trump, responding to a user's advice to "cool off and take a step back for a couple days" with "Good advice."

 - Lululemon (LULU) share are plunging in premarket trading as the athletic wear maker is reducing its earnings per share outlook by about 2.5% for the full year. It also sees sales below analysts estimates. Lululemon is trying to manage supply chains affected by President Trump's trade wars, and its guidance assumes 30% tariffs on China and 10% on other countries, which could cause a "significant reduction" in profitability.

 - Broadcom (AVGO) share are sinking this morning as the chip supplier to companies like Alphabet and Apple gave a lackluster revenue forecast for the current quarter. Analysts suggest that the Artificial Intelligence spending frenzy isn't as strong as some investors anticipated. Like Nvidia, the company is seen as a key beneficiary of a surge in AI spending.

 - Circle (CRCL) shares are continuing their climb after the company's successful IPO, with shares surging 168% yesterday and closing at $83.23 in New York. Circle's market value is now $18.5 billion, with a fully diluted valuation of about $22.1 billion, as stablecoins are poised to be regulated by legislation and may lead to larger institutional adoption.

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On this episode of Stock Movers:

  - Puma and Adidas fall as European athleisure stocks under-perform on Lululemon posting a second straight disappointing quarter, fueling concerns around the impact of rising competition and new tariffs.

 - Filtronic, a components maker who produce modules for SpaceX's Starlink, has been caught in the Musk-Trump crossfire.

 - Broadcom Inc., a chip supplier to companies like Alphabet and Apple, gave a lackluster revenue forecast for the current quarter, suggesting that the AI spending frenzy isn’t as strong as some investors anticipated.

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On this episode of Stock Movers:

- Tesla (TSLA) shares sank as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people.
Trump on Thursday said he was “very disappointed” by the Tesla chief executive officer’s criticism of the president’s signature tax policy bill. Musk fired back in several social media posts, saying in one that “without me, Trump would have lost the election.” The president later floated terminating federal contracts and subsidies extended to Musk’s companies and said that he had asked the Tesla and SpaceX leader to leave his administration, which Musk said was a “lie.” Musk went a step further late in the day, saying he would decommission a SpaceX craft used by the US.

- Lululemon (LULU) shares fell sharply after its latest earnings report highlighted the risk posed by new tariffs while exacerbating investor concerns about slowing growth.
The company sees sales in the range of $2.54 billion to $2.56 billion for its fiscal second quarter, below the average analyst estimate. For the full year, Lululemon reduced its earnings per share outlook by about 2.5%. The company and its retail peers are trying to manage supply chains that have been upended by US President Donald Trump’s trade wars. Apparel and footwear production hubs in Asia including China and Vietnam face elevated tariff rates as the White House negotiates new trade deals.

- Planet Labs (PL) shares skyrocketed as much as 55% - a record jump — after the company’s first-quarter revenue topped expectations. Citizens analyst said the satellite-data provider had a “stellar quarter” and the stock remains an opportunity for long-term capital appreciation.

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On this episode of Stock Movers:
-Chewy shares (CHWY) fall after Jefferies analyst Kaumil Gajrawala cut the recommendation on the online retailer of pet products to hold from buy, writing that valuation appears “primed” for a first-quarter beat and raise that’s unlikely to happen.
-Dollar Tree shares (DLTR) are up after JPMorgan upgraded the discount retailer to overweight from neutral.
-Planet Labs shares (PL) jump after first-quarter revenue beat estimates. Analysts at Citizens said the satellite data provider had a “stellar quarter” and the stock remains an opportunity for long-term capital appreciation.

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On this episode of Stock Movers:
-Dollar Tree shares (DLTR) are up after JPMorgan upgraded the discount retailer to overweight from neutral.
- Kimberly-Clark, (KMB) shares are down after selling a majority stake in its global Kleenex and tissue businesses outside of North America.It's forming a JV with Brazilian pulp supplier Suzano in a deal valued at $3.4 billionSuzano is the world largest pulp supplier and it will have a 51% majority stake and holds the option to buy Kimberly-Clark’s ownership interest at specified times and conditions
-Brown Forman (TICKER BF/B) shares are down after Parent company of Jack Daniel's reported after the bell and 4Q EPS and sales missed estimates.

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On this episode of Stock Movers:
- Victoria's Secret (VSCO) shares moving this morning with the company set for a new date for their 1st quarter earnings release - next week June 11th. They had a big data breach in May. The information exposed in the incident included names, dates of birth, Social Security numbers, driver’s license numbers, state ID numbers, passport numbers, financial account information, digital signatures, medical information, health insurance information, biometric information, and mother’s maiden names.
- Broadcom (AVGO) shares are higher, making it the 7th-most valuable company in the S&P 500 with a market value of $1.23 trillion, and its Thursday earnings report is expected to sustain the momentum. Investors are expecting strong earnings growth, with a focus on the revenue forecast and whether Broadcom has added new big cloud-computing customers, and an impressive showing could lead to another leg higher in the stock price.
- Citi (C) is moving after cutting its technology employee workforce in China by about 3,500 as part of its global simplification efforts. Citigroup's wholly-owned local banking subsidiary Citibank (China) Co. will be unaffected, and the bank continues to invest in the unit to support corporate and institutional clients in the country.

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On this episode of Stock Movers:
- Planet Labs (LB) is higher this morning after reporting profit that beat expectations as Europe hikes defense spending in response to the United States pulling back from the continent. Earnings excluding some items were $1.2 million in its first quarter, according to a statement Wednesday, its second profitable quarter in a row and better than analysts’ average expectation of a $3 million loss.
- Five Below (FIVE) is gaining in premarket trading after the discount stores company reported first-quarter results that beat expectations and guided for net sales in the second quarter that are above estimates.
- PVH (PVH), the owner of Calvin Klein, is lower after cutting its full-year adjusted earnings per share guidance, and noted that the outlook reflects an estimated net negative impact in relation to tariffs placed on goods coming into the US. Negative impact from tariffs includes an “unmitigated impact of approximately $1.05 per share, and a partially offsetting impact of planned mitigation actions,” the company said in a statement.
- Tesla (TSLA) continues to decline this morning after vehicle shipments from its China factory fell for an eighth straight month, as reported yesterday. Also weighing on the stock is the back and forth between owner Elon Musk and President Trump over the Congressional tax bill.
- Land's End Inc. (LE) stock is on the rise this morning after affirming its 2025 adjusted EPS guidance from $0.48-$0.86 to $0.48-$0.86 as well as its 2025 year end outlook.

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On this episode of Stock Movers:

- Wizz Air plunged 26% in early trading after the discount airline reported earnings that missed estimates and refrained from providing a guidance, citing poor visibility. 

- Wise is planning to list its shares in the US, the latest blow to London’s stock market.

- Bayer shares rise as much as 5.1% after Goldman Sachs upgrades the German chemicals and pharmaceutical company to buy from neutral, saying it sees earnings as having bottomed out and thinks risks around litigation and pharma data are overdone.

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On this edition of Stock Movers:

- Dollar Tree (DLTR) shares dropped as the company warns that its second-quarter profit may be down 50% from a year ago due to tariff-related costs, including 145% levies on some products from China. The retailer said the timing of expenses will weigh on adjusted earnings per share, including paying 145% levies on some products from China. The chain then expects profit to “re-accelerate” in the remainder of the year.

- ON Semiconductor (ON) shares jumped after the chip maker's CEO Hassane El-Khoury stressed that things would only improve following a mixed first-quarter print.

- CrowdStrike (CRWD) shares fell after US officials have asked for information related to the accounting of deals it’s made with some customers and said the cybersecurity firm is cooperating with the inquiry. The Austin, Texas-based company said in a filing Wednesday that it has gotten “requests for information” from the US Department of Justice and the Securities and Exchange Commission “relating to the company’s recognition of revenue and reporting of ARR for transactions with certain customers.” ARR refers to annual recurring revenue, a measure of earnings from subscriptions.

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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 Greifeld, David Gura and Emily Graffeo.

- Netflix (NFLX) shares rose after UBS raises its prices target on the streaming-video company to among the highest on Wall Street. UBS analyst John Hodulik says, "“Secular trends and competitive dynamics remain supportive of Netflix’s ability to drive stronger monetization and operating leverage."

- Meta (META) shares are still riding high after it reached its big deal to buy nuclear power from Constellation Energy. The parent company of Facebook, Instagram and WhatsApp signed a 20-year contract to buy 1,121 megawatts from the Clinton plant starting in mid-2027, when a state subsidy expires, according to a statement Tuesday. Constellation, the biggest US nuclear operator, and Meta didn’t provide financial details. Under the deal, Constellation will invest in boosting Clinton’s output. The company is also considering plans to build another reactor at Clinton, which already has federal approval for a second unit. The Meta deal marks a significant turnaround for the Clinton plant, which has enough to power about 1 million homes. Then-owner Exelon Corp. had threatened to close the site in 2017 as nuclear operators around the US struggled to compete with cheap natural gas and renewables. The company changed course after Illinois approved a 10-year subsidy.

- CrowdStrike (CRWD) shares fell after the cybersecurity company projected revenue for the current period that trailed estimates, in its first financial update since announcing it would cut about 5% of its global workforce. Sales for the second quarter will be as much as $1.15 billion, the Austin-based company said in a statement Tuesday, missing the average analyst estimate of $1.16 billion. In May, CrowdStrike announced that it would cut about 500 employees as it works toward a goal of generating $10 billion in annual recurring revenue. Its shares dropped at the time as Wall Street questioned whether the company’s move came from a place of weakness or strength. The firm said in a corporate filing at the time that it expected $36 million to $53 million in charges from the job cuts, with most of that coming from paying severance, employee benefits and related costs.

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On this edition of Stock Movers:

- K Wave Media (KWM) shares more than tripled after the company said it would sell $500 million of shares to buy and stash bitcoin on its balance sheet.

- Dollar Tree (DLTR) shares are down as the company warned investors that its second-quarter profit could be down as much as 50% from a year ago as it deals with tariff-related costs. The retailer said the timing of expenses will weigh on adjusted earnings per share, including paying 145% levies on some products from China. The chain then expects profit to “re-accelerate” in the remainder of the year.

- CrowdStrike (CRWD) shares fell after the cybersecurity company projected revenue for the current period that trailed estimates, in its first financial update since announcing it would cut about 5% of its global workforce. Sales for the second quarter will be as much as $1.15 billion, the Austin-based company said in a statement Tuesday, missing the average analyst estimate of $1.16 billion.

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On this episode of Stock Movers:
- CrowdStrike shares (CRWD) fall after the cybersecurity company posted disappointing first-quarter subscription revenue due to an impact from programs related to its post-outage Customer Commitment Package (CCP). Its second-quarter sales forecast also underwhelmed, while an unchanged view on full-year revenue was seen as negative by some analysts. Evecore ISI and Canaccord downgraded the stock.
- Wells Fargo shares (WFC) rise after CEO Charlie Scharf cleared the Federal Reserve's seven-year-old cap on assets, allowing the bank to grow and compete with larger rivals. Scharf, who has spent years cleaning up Wells Fargo's scandals, plans to focus on growth areas such as trading operations, investment banking, credit cards, and wealth management.
- Hewlett Packard Enterprise (HPE) shares gain after the company reported quarterly revenue of $7.63 billion, topping estimates, and expects a reduced impact from tariffs on its business this year.

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On this episode of Stock Movers:
- CrowdStrike shares (CRWD) fall after the cybersecurity company posted disappointing first-quarter subscription revenue due to an impact from programs related to its post-outage Customer Commitment Package (CCP). Its second-quarter sales forecast also underwhelmed, while an unchanged view on full-year revenue was seen as negative by some analysts. Evecore ISI and Canaccord downgraded the stock.
- Dollar Tree shares (DLTR) fall after warning investors that its second quarter profit could be down as much as 50% from a year ago as it deals with tariff-related costs. The retailer expects profit to "re-accelerate" in the remainder of the year, and is selling its Family Dollar division for about $1 billion to focus on its stronger Dollar Tree chain.
- Snowflake (SNOW) shares rise after UBS raised it to buy from neutral saying the company is early in a multi-year data investment cycle.

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On this episode of Stock Movers:
- Apple (APPL) shares fell in premarket trading after Needham & Co cut its recommendation on the iPhone maker to hold from buy. Analyst Laura Martin downgraded the stock on near-term threats to revenue and EPS growth. "For this stock to work, it must have the catalyst of an iPhone replacement cycle, which we do not foresee in the next 12 months,” Martin wrote.
- Tesla (TSLA) is also lower this morning as vehicle shipments from its China factory fell for an eighth straight month, extending a global sales slump as Chief Executive Officer Elon Musk pledges to renew his focus on the automaker. The EV maker shipped 61,662 Model 3 sedans and Model Y sport utility vehicles from its Shanghai plant in May, down 15% from the same time last year, according to preliminary data from China’s Passenger Car Association. The group didn’t provide a breakdown of domestic sales and exports.
- Wells Fargo (WSC) shares are higher this morning as the bank was released from a Federal Reserve asset cap that has restricted its size for over seven years. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

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On this episode of Stock Movers:

 - Chart Industries (GLTS) was higher then erased gains this morning after WSJ reported it is expected to combine with Flowserve in a deal that sources say can be announced today. Shareholders of Chart Industries would receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned, according to the Journal.

 - Dollar Tree (DLTR) is lower this morning after reporting its first quarter results. Despite reporting solid earnings, investors are concerned about second quarter guidance from the discount retailer. The move comes despite the company saying it expects to mitigate the impact of higher tariffs.

 - Wells Fargo (WSC) shares are higher this morning as the bank was released from a Federal Reserve asset cap that has restricted its size for over seven years. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

 - Crowdstrike (CRWD) shares are in decline this morning after the company projected revenue for the current quarter that trailed estimates, with sales expected to be as much as $1.15 billion. The company is facing investigations by US prosecutors and regulators over a $32 million deal with Carahsoft Technology Corp., and is working to generate $10 billion in annual recurring revenue after cutting about 500 employees in May.

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On this episode of Stock Movers:

 - Remy Cointreau withdrew its long-term sales guidance, blaming tariff policies in America and China and a stunted recovery in the US market.

  - China is considering placing an order for hundreds of Airbus aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries’ long-term ties, according to people familiar with the matter.

 - Shares of European chipmakers rally on Wednesday after US peer ON Semiconductor said it started to see signs of a broad-based recovery in demand.

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On this edition of Stock Movers: 

- Bumble (BMBL) shares fell after JPMorgan downgraded it to underweight from neutral. Analyst Cory Carpenter says shares have rallied over 50% since President Donald Trump’s “Liberation Day” tariff announcements — now above price target.

- Dollar General (DG) shares surged after increasing its annual guidance, helped by luring more higher-income shoppers looking for deals. The discount chain also said it expects to mitigate a significant amount of the tariffs currently in place. The company sees same-store sales gaining as much as 2.5% this fiscal year, up from guidance in March calling for an increase as high as 2.2%. The retailer also nudged up expectations for earnings per share.

- Pinterest (PINS) shares rose after JPMorgan raised its rating to overweight from neutral. A diversification of its advertising platform to provide full-funnel capabilities is supporting further revenue upside at the social media firm, says JPMorgan analyst Doug Anmuth. Pinterest is also driving solid user growth, with 85% of its monthly active users coming directly to the mobile app and over 90% of the firm revenue is generated from the app according to analysts.

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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 Greifeld, Carol Massar and Tim Stenovec.

• Wells Fargo (WFC) finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief Executive Officer Charlie Scharf. The bank’s shares surged. The Fed said in a statement Tuesday that Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The central bank completed its review of Wells Fargo’s remediation efforts and third-party assessments, as well as its own assessment of the bank’s corporate governance and risk management programs, it said.
• Broadcom (AVGO) began shipping a new version of its data center switch chips that can boost the efficiency of AI accelerators, aiming to take a bigger role in the booming market for artificial intelligence computing. Shares rose on the news. The company started delivering the Tomahawk 6 switch chips to customers over the weekend, and the product will be broadly available in July, said Ram Velaga, senior vice president and general manager of Broadcom’s Core Switching Group. Switches, a central piece of networking equipment, allow computers to communicate with one another. A single new Tomahawk 6 can do the work of six of the previous versions, Broadcom said.
• Dollar General (DG) surged after increasing its annual guidance, helped by luring more higher-income shoppers looking for deals. The discount chain also said it expects to mitigate a significant amount of the tariffs currently in place. The company sees same-store sales gaining as much as 2.5% this fiscal year, up from guidance in March calling for an increase as high as 2.2%. The retailer also nudged up expectations for earnings per share.

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