Stock Movers

Today's biggest winners and losers in the stock market.
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 Bostic, Carol Massar and Tim Stenovec

- Kodiak Sciences (KOD) shares soar as much as 172%, a record jump, after the drug developer said two of its experimental drugs met their primary endpoints in a late-stage study for an eye disease.

- Meta Platforms has tapped MongoDB (MDB) president and chief executive officer, Chirantan "CJ" Desai, to lead a new AI platform for enterprise customers. The new business unit, called Meta Enterprise Platform, aims to help businesses use AI to grow and transform in new ways, using Meta's strengths in advanced models, agents, AI infrastructure, and experience working with businesses. Desai's departure from MongoDB has led to the company's board bringing back Dev Ittycheria as interim president and CEO, with a search begun for Desai's permanent replacement. MongoDB’s stock plunged 21% to $326.51 at 10:50 a.m. in New York, its worst intraday decline since March 3.

- The Federal Aviation Administration is holding off on certification of Boeing's 737 Max 10 variant due to a new software issue. The FAA is determining whether the software concern constitutes a safety of flight issue, according to Administrator Bryan Bedford. The certification of the 737 Max 10 was expected in coming weeks, and is key to Boeing generating cash and improving its balance sheet. Boeing (BA) shares fell to an intraday low following the administrator’s comments, dropping as much as 6.8% as of 2:26 p.m. in New York.

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Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Nvidia (NVDA) said its board has approved a $150 billion increase to its share repurchase program, raising the total program to $235 billion. Shares were up 2.3%.

- MongoDB (MDB) shares are sinking 25% on Monday, after the database software company said that CEO Chirantan “CJ” Desai has stepped down, effective immediately, for a senior role at Meta Platforms. The news comes ahead of an investor day event on Tuesday.

- James Hardie Industries (JHX) shares fall after Citi cut the recommendation on the building materials company to neutral from buy, citing an “uncertain” outlook for government bond yields.

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On this episode of Stock Movers:

- Nvidia (NVDA) shares gain. Nvidia Corp. increased the size of its share buyback plan by $150 billion, taking the total remaining authorized amount to $235 billion. Separately, Nvidia Corp. introduced a new double-layered artificial intelligence security system that it says would’ve prevented the recent high-profile breach of Hugging Face by OpenAI’s AI models.

- Meta (META) shares drop. Meta Platforms Inc. has tapped MongoDB Inc.'s president and chief executive officer to lead a new AI platform for enterprise customers. The new business unit, called Meta Enterprise Platform, aims to help businesses use AI to grow and transform in new ways. The new business unit, called Meta Enterprise Platform, aims to help businesses use AI to grow and transform in new ways.

- Microstrategy (MSTR) is dropping due to broader declines in the price of Bitcoin. The macro backdrop has weighed on cryptocurrencies, with crypto falling along with stocks and bonds after President Donald Trump rejected Iran’s latest proposal.

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On this episode of Stock Movers:
- Frontline (FRO) shares are up with record-breaking profits driven by high spot tanker rates from global shipping disruptions.
- ConocoPhillips (COP) shares are climbing due to stronger-than-expected earnings and rising crude oil prices driven by geopolitical supply concerns
- Royal Gold (RGLD) shares drop as other gold and silver stocks fall. This comes as persistent tensions in the Middle East push up government bond yields and dent the appeal of non-yielding metals.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Nvidia (NVDA) shares are up after the board of the leader in AI chips authorized an additional $150 billion under the company’s existing share-repurchase program. The move increases the total remaining amount authorized to $235 billion.

- Australia’s Northern Star Resources Ltd. rejected a takeover approach from South African rival Gold Fields Ltd. that could have created the second-largest gold miner, saying the A$38.7 billion ($27.1 billion) cash-and-shares offer undervalued its business.

- Roblox (RBLX) was cut to underperform from hold at Jefferies, which said the stock’s 30% rally since the gaming company’s second-quarter results in July reflects an overly optimistic view of bookings for the next 12 months.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nvidia (NVDA) the chip developer at the heart of the artificial intelligence boom, increased the size of its share buyback plan by $150 billion, increasing the total remaining amount authorized to $235 billion.
- SK Hynix (000660 KS) shares drop as much as 4.9% after reports of subsidiary Solidigm’s IPO plans trigger concerns over the rationale behind the move.
- SpaceX (SPCX) is poised to launch its massive Starship to orbit for the first time on Monday, a critical milestone that could pave the way for the test rocket to begin regular satellite launches.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares in the UK’s largest homebuilders soared on Monday after the government said it would introduce a new loan program to help first-time buyers.Persimmon Plc and Taylor Wimpey Plc, two of the other biggest beneficiaries of the previous “Help to Buy” package, opened higher by as much as 17% and 23%, respectively.
- Rexel advances as much as 4.3% on Monday following the announcement after Friday’s market close of the purchase of specialty wire and cable provider GCG. The deal is seen as a good strategic fit by analysts, improving the French electrical supplies company’s North America exposure and position in end markets such as data centers.
- Fresnillo and European miners dropped as copper and other base metals retreated after data showed slower growth in industrial profits in China.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares in the UK’s largest homebuilders soared on Monday after the government said it would introduce a new loan program to help first-time buyers.Barratt Redrow Plc, the UK’s largest homebuilder, jumped as much as 16%, the biggest intraday move since 2020. - Austrian lender Erste Bank is planning to lift its ownership in its recently acquired Polish subsidiary.
- Fresnillo and European miners dropped as copper and other base metals retreated after data showed slower growth in industrial profits in China.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- SK Hynix shares fell as media reports of a potential listing of the chipmaker’s US subsidiary added to concerns over its complex ownership structure.
- Chinese shares touched a one-year low, led by a selloff in technology firms after a report that authorities may allow purchases of Nvidia’s new chips and proposed US sanctions on foreign optical producers.Optical companies Zhongji Innolight and Eoptolink Technology were among the top decliners, down at least 5% each.
- Australia’s biggest gold miner Northern Star Resources rejected a cash-and-shares takeover approach from South African rival Gold Fields Ltd. valuing it at A$38.7 billion ($27.1 billion). Shares in Northern Star jumped as much as 11% to A$24.46, closing in on the bid’s implied price. They closed at A$23.47.

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Bloomberg’s Nathan Hager focuses on three stocks for the week ahead. They include: Carnival (CCL) Micron (MU) and Nike (NKE)

Nathan previews what to expect from these companies in the week ahead with Judy Lagrou, Bloomberg News Reporter.

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