Stock Movers

- Nokia (NOK) shares skyrocketed on the news Nvidia plans to make a $1 billion equity investment in the company, as the AI sector's kingmakers bets on the Finnish company's pivot from mobile networking kit into artificial intelligence. Nokia shares jumped the most in more than a decade. Nokia will issue about 166 million shares to Nvidia at $6.01 apiece, giving Nvidia a 2.9% stake, the companies said in a statement on Tuesday. Nvidia’s chips will be used to accelerate Nokia’s software for 5G and 6G networks and Nvidia will explore ways to use Nokia’s data center technology in its AI infrastructure, they said.
- Beyond the Nokia news, Nvidia (NVDA) also saw shares rise. On Tuesday, as part of its GTC conference held in Washington, DC, Nvidia unveiled a new technology platform — Nvidia Drive AGX Hyperion 10 — that lets manufacturers equip their cars with hardware and sensors that can work with compatible autonomous-driving software.
- D.R. Horton (DHI) shares fell as much as 7.5% Tuesday, the biggest decline in almost a year, after reporting weaker-than-expected quarterly margins as the homebuilder leaned heavily on incentives to drive sales. The company reported a home sales gross margin of 20%, down from 23.6% a year earlier and below consensus of 21.3%, based on a Bloomberg survey of analysts. D.R. Horton’s shares moderated slightly and were down 2.2% to $155.32 at 10:01 a.m. in New York Tuesday.

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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, Katie Greifeld, Tim Stenovec and Carol Massar.

On this episode of Stock Movers:

- Booking (BKNG) 3Q adjusted Ebitda beat estimates. Shares rose 4.5% in the afterhours after their gross bookings topped expectations. Third quarter revenue also outperformed estimates.

- PayPal (PYPL) raised its full-year earnings guidance and announced a tie-up with OpenAI to embed its digital wallet into ChatGPT, sending its shares up. The company raised its 2025 adjusted earnings-per-share forecast to $5.35 to $5.39 and announced a dividend program that will pay 14 cents a share this quarter. PayPal said it's begun to see a pullback in US consumers' spending, with average order values trending down in recent weeks, which could hinder its efforts to meet its multiyear financial targets.

- JetBlue (JBLU) closed 11.86% lower, as the carrier laid bare its challenges through the holiday travel season, from rising fuel prices and a hurricane to a US government shutdown. JetBlue executives said demand for premium offerings is stronger compared with the main cabin as air travel rebounds, but investors are growing impatient with executives’ ability to meet cost-cutting targets.

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On this episode of Stock Movers:
- Microsoft (MSFT) and OpenAI finalized a new agreement in a long-negotiated partnership.Under the new pact, Microsoft will get a 27% ownership stake in OpenAI worth about $135 billion, the companies said in a statement Tuesday.In addition, Microsoft will have access to the artificial intelligence startup’s technology until 2032, including models that achieved the benchmark of AI general intelligence.
- United Parcel Service (UPS) shares soared after it smashed Wall Street’s profit expectations by cutting costs and eliminating 34,000 jobs this year.The cuts to its permanent operational workforce — a group that includes drivers and package handlers — marked a 70% increase from its previous target. As part of the sweeping cost-savings initiative, UPS has closed daily operations at 93 leased and owned buildings in 2025, according to a statement Tuesday.
- PayPal (PYPL) shares surged after it announced a partnership with OpenAI and boosted its adjusted earnings per share guidance for the full year, with the guidance beating expectations. Third quarter EPS and net revenue also came in above the average analyst estimates.

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On this episode of Stock Movers:
- United Parcel Service (UPS) shares soared after it smashed Wall Street’s profit expectations by cutting costs and eliminating 34,000 jobs this year.The cuts to its permanent operational workforce — a group that includes drivers and package handlers — marked a 70% increase from its previous target. As part of the sweeping cost-savings initiative, UPS has closed daily operations at 93 leased and owned buildings in 2025, according to a statement Tuesday.
- UnitedHealth Group (UNH) beat Wall Street expectations for third-quarter earnings and raised its outlook for the year, a sign that the health conglomerate has stabilized after a major meltdown.The company is planning for “durable and accelerating growth in 2026,” UnitedHealth said in a statement Tuesday. Adjusted profit in the third quarter was $2.92 a share, slightly above the average analyst estimate in a Bloomberg survey.
- Amazon.com (AMZN) shares are slightly higher after announcing plans to eliminate roughly 14,000 corporate jobs. The move comes just months after Chief Executive Officer Andy Jassy warned that AI will shrink the company’s workforce. The downsizing marks Amazon’s second round of reductions in about as many years. Jassy signaled in June that the company’s staff count would likely fall as it increases its use of artificial intelligence to complete tasks normally handled by people.

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On this episode of Stock Movers:
- BNP Paribas said its trading unit suffered a hit from souring debt in 3Q, with loan-loss provisions rising to €905 million.
- HSBC has raised its profit outlook for the year despite a decline in earnings, after taking a $1.1 billion hit over Bernie Madoff's fraud case more than a decade ago
- Novartis stocks declined as core operating profit climbed 6% in 3Q, the slowest quarterly growth in almost two years as sales of two of the company’s top sellers, the heart medicine Entresto and Cosentyx for autoimmune conditions, barely grew.

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On this episode of Stock Movers:

- Beyond Meat (BYND) Four years ago, Beyond Meat was able to raise over $1 billion selling a a zero-coupon convertible bond due 2027, taking advantage of rampant bets on the future of plant-based meat products. Wolverine Asset Management, DE Shaw & Co. and Context Capital Management were among the firms that bought in, only to watch Beyond’s fortunes flag spectacularly as the meatless burger craze faded. By this year, Beyond had to address the looming maturity from a position of weakness. It launched an exchange offer with existing bondholders through a debt-swap paying 7% interest and additional shares in exchange for the old notes. What looked like a pretty nice outcome for the bondholders quickly turned into a wild ride after Beyond Meat’s shares got caught up in the latest bout of meme-stock madness. The stock soared some 1,300% in a matter of days, delivering, on paper at least, a windfall to holders of the convertible. The bond itself, due in 2030, trades around 110 cents on the dollar.

- Qualcomm (QCOM) Qualcomm Inc. shares rose to their highest price in 15 months after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia Corp. in the fastest-growing part of the industry. The company’s new AI200 lineup will start shipping next year, Qualcomm said on Monday. The first customer will be Saudi Arabia’s AI startup Humain, which plans to deploy 200 megawatts’ worth of computing systems based on the chips starting in 2026.

- Keurig (KDP) Keurig Dr Pepper Inc. is raising $7 billion from Apollo and KKR to help finance its acquisition of JDE Peet’s NV, aiming to ease investor concerns about taking on too much debt. Wall Street has expressed skepticism over Keurig’s August announcement to buy the Dutch coffee company for about $18 billion. The deal raises Keurig’s leverage and triples its exposure to a coffee category that investors wanted to see reduced, TD Cowen analyst Robert Moskow wrote in a note earlier this month. The stock increased as much as 10% on Monday, the biggest intraday gain since March 2020. Year to date, shares had declined 15% through Oct. 24.

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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, Katie Greifeld, Tim Stenovec and Carol Massar.

On this episode of Stock Movers:

- Avis Budget (CAR) reported adjusted Ebitda for the third quarter that beat the average analyst estimate. Shares spiked 10% in afterhours trading after the release of third quarter results. The company also reported an Americas per-unit fleet cost of -20%.

- Qualcomm (QCOM) share close at the highest level since July 2024, after after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia in the fastest-growing part of the industry. 

- Cadence Design (CDNS) shares sank 4% in the afterhours on their 3Q earnings. Still the company reported revenue that beat the average analyst estimate.

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On this episode of Stock Movers:

- Qualcomm (QCOM) kicked off its biggest stock rally since 2019 after unveiling chips and computers for the lucrative AI data center market, aiming to challenge Nvidia in the fastest-growing part of the industry. 

- Lululemon Athletica (LULU) rises after entering an arrangement with the National Football League and sports merchandiser Fanatics to develop a line of fan apparel. This comes as the yoga-wear retailer searches for new avenues of growth.

- Keurig Dr Pepper (KDP) jumps after the company announced it is raising $7 billion from Apollo and KKR to help finance its acquisition of JDE Peet’s NV, aiming to ease investor concerns about taking on too much debt.

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Carter's Sales Miss; GameStop Jumps; Lululemon Rises on Deal
On this episode of Stock Movers:
- Carter’s (CRI) shares are up, erasing an earlier decline, after the children’s apparel company said its fourth-quarter comparable sales are “off to a good start,” despite reporting a net sales miss during the third quarter. The company also plans to reduce offices-based roles by about 15% by the end of 2025, and it boosted the amount of stores it plans to close.
- GameStop (GME) shares jump more than 8% in premarket trading after the White House’s Rapid Response 47 account reposted a statement from the company on X that declared the so-called “console wars” over. The White House’s official X account also posted a reply to the statement with a stylized image of President Trump.
- Lululemon Athletica (LULU) has entered an arrangement with the National Football League and sports merchandiser Fanatics Inc. to develop a line of fan apparel as the yoga-wear retailer searches for new avenues of growth.The new Lululemon collection, set to be announced on Monday, is the company’s first link-up with the league. The line includes clothes for all 32 NFL teams and will be sold through the NFL and Fanatics shops, along with team stores, beginning on Oct. 28.

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On this episode of Stock Movers:
- Keurig Dr Pepper (KDP) shares soared ahead of the New York open after the company announced it now expects fiscal 2025 constant currency net sales growth in a high-single-digit range, revised from a mid-single-digit growth outlook previously. KDP also announced it is raising $7 billion from Apollo and KKR to help finance its acquisition of JDE Peet’s NV, aiming to ease investor concerns about taking on too much debt.
- Lululemon Athletica (LULU) has entered an arrangement with the National Football League and sports merchandiser Fanatics Inc. to develop a line of fan apparel as the yoga-wear retailer searches for new avenues of growth. The new Lululemon collection, set to be announced on Monday, is the company’s first link-up with the league. The line includes clothes for all 32 NFL teams and will be sold through the NFL and Fanatics shops, along with team stores, beginning on Oct. 28.
- Huntington Bancshares (HBAN) agreed to buy Cadence Bank for $7.4 billion, the Ohio bank’s second major acquisition this year to expand in southern and southeastern states and the latest in a string of deals among US regional lenders. The acquisition will extend Huntington’s footprint to 21 states, stretching from the Midwest to the South to Texas, according to a statement Monday. The bank will add more than 390 Cadence locations, ranking it fifth by deposit market share in the fast-growing metropolitan areas of Dallas and Houston and No. 1 in Mississippi, according to the statement.

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