Stock Movers

On this episode of Stock Movers:
- Starbucks (SBUX) shares fall after the company said it plans to close stores and eliminate 900 jobs in a $1 billion restructuring effort under Chief Executive Officer Brian Niccol.
- Intel (INTC) / Apple (AAPL) shares rise after news that Intel has approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, as part of efforts to bolster a business that’s now partially owned by the US government.
- Lithium Americas (LAC) shares soared to the highest price since April 2024 after reports the Trump administration is pursuing a stake in the company.

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On this episode of Stock Movers:
- Eli Lilly (LLY) shares drop after the company halted a study of an experimental drug designed to prevent obesity patients from losing too much muscle, citing strategic business reasons.
- CarMax (KMX) shares fall after the used car retailer reported significant earnings per share and sales shortfalls for the second quarter, which Truist Financial Services analysts described as a “miss across the board” with “really nothing good to see.” Wedbush downgraded the stock to neutral.
- Jabil (JBL) shares fall after the manufacturer reported results, which Vital Knowledge says show pressure on margins in the AI-exposed Intelligent Infrastructure segment.

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On this episode of Stock Movers:
- Intel (INTC) shares are higher as it approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, as part of efforts to bolster a business that’s now partially owned by the US government. A deal with Apple would represent further validation of the chipmaker’s turnaround bid, although it’s unlikely that Apple would switch back to Intel processors in its devices.
- Oracle (ORCL) is falling as Rothschild & Co Redburn initiates coverage of the software giant with a sell rating, saying the market is materially overestimating the value of the firm’s cloud revenues.
- Carmax (KMX) slides after the used car retailer reported significant earnings per share and sales shortfalls for the second quarter. CarMax Auto Finance (CAF) income decreased 11.2% as an increase in the provision for loan losses outweighed growth in CAF’s net interest margin percentage.
- Cipher Mining (CIFR) is higher on news Google's taking a stake int he company as part of an AI hosting deal. Google will receive warrants to buy about 24 million shares of Cipher Mining’s stock, equating to an about 5.4% pro forma equity ownership stake, as part of Cipher’s 10-year AI hosting agreement with Fluidstack.

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On this episode of Stock Movers:

- Cipher Mining (CIFR) is higher on news Google's taking a stake in the company as part of an AI hosting deal. Google will receive warrants to buy about 24 million shares of Cipher Mining’s stock, equating to an about 5.4% pro forma equity ownership stake, as part of Cipher’s 10-year AI hosting agreement with Fluidstack.

- Intel (INTC) shares are higher as it approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, as part of efforts to bolster a business that’s now partially owned by the US government. A deal with Apple would represent further validation of the chipmaker’s turnaround bid, although it’s unlikely that Apple would switch back to Intel processors in its devices.

- Oracle (ORCL) is falling as Rothschild & Co Redburn initiates coverage of the software giant with a sell rating, saying the market is materially overestimating the value of the firm’s cloud revenues.

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On this episode of Stock Movers:
- H&M shares soared after the fashion retailer’s profit topped expectations, suggesting tight cost controls are helping its turnaround take hold.
- Koninklijke Philips dropped on news of the Trump administration’s latest probe into imports of robotics, industrial machinery and medical devices, setting the stage for fresh duties.
- Volkswagen and other German carmakers' shares gained on news the US lowered tariffs on auto imports from the EU to 15%, retroactive to August 1.

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On this episode of Stock Movers:

- Intel (INTC) shares soared on word it has approached Apple (AAPL) about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. Apple and Intel also have discussed how to work more closely together, said the people, who asked not to be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said. Shares of Intel rose 6.4% to $31.22 on Wednesday in New York after Bloomberg News reported on the discussions. Apple closed down less than 1% at $252.31. Intel also has reached out to other companies about possible investments and partnerships, the people said. 

- Lithium Americas (LAC) shares soared to the highest price since April 2024 on Wednesday after reports the Trump administration is pursuing a stake in the company. The White House proposed taking equity in the Canadian lithium company during a renegotiation of the terms of a $2.3 billion loan extended by the Energy Department, Bloomberg News reported Tuesday. That followed an earlier Reuters report that the administration was seeking a stake of as much as 10%.

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On this episode of Stock Movers:

- Micron Technology (MU) fell after a generally upbeat forecast from the memory-chip maker failed to impress investors, underscoring Wall Street’s lofty expectations following an extraordinary rally this year.

- Charles Schwab (SCHW) sank on news from Chief Executive Officer Rick Wurster, who said that Charles Schwab would like to give its retail investors more opportunities to take stakes in private companies as a growing number of firms become industry giants before going public.

- Microsoft (MSFT) will start using artificial intelligence models from Anthropic to help power its workplace AI assistant, adding a significant partner to a product that has so far been predominantly driven by OpenAI.

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On this episode of Stock Movers:
- Oracle (ORCL) shares drop after Oracle said it is seeking to borrow $15 billion from the US investment-grade bond market on Wednesday, as the software maker ramps up its spending to meet the needs of the AI boom.
- Alibaba (BABA) shares surged to their highest in nearly four years after revealing plans to ramp up AI spending past an original $50 billion-plus target.
- Adobe (ADBE) shares drop after Morgan Stanley downgraded to equal-weight from overweight on decelerating digital media annual recurring revenue.

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On this episode of Stock Movers:
- Alibaba (BABA) shares surged to their highest in nearly four years after revealing plans to ramp up AI spending past an original $50 billion-plus target, joining tech leaders pledging ever-greater sums toward a global race for technological breakthroughs.
- Micron Technology (MU) shares are up after the chipmaker gave a forecast that showed strong AI-related demand.
- Lithium Americas (LAC) shares soar 56% in premarket trading on Wednesday after reports revealed the US is seeking an equity stake in the company as it renegotiates terms of a $2.3 billion government loan.

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On this episode of Stock Movers:
- Rheinmetall rose with other European defense stocks after President Donald Trump said NATO countries should shoot down Russian aircraft that violated their airspace.
- BE Semiconductor traded higher along with tech and media shares, recovering earlier losses.
- On The Beach forecast slipped as its guidance for the year missed the average analyst estimate.

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