Stock Movers

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, Tim Stenovec and Emily Graffeo.

- Intel (INTC) shares were higher today continuing a month-long rally. Intel bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side-effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.
Shares of the struggling chipmaker have rallied 28% this month, adding about $24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a $2 billion investment from Japan’s SoftBank Group Corp. The jump has Intel trading at 53 times profits projected over the next 12 months, the highest since early 2002, according to data compiled by Bloomberg.

- Palo Alto (PANW) jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Fiscal-year sales will be about $10.5 billion, the company said Monday in a statement. Analysts, on average, estimated $10.4 billion, according to data compiled by Bloomberg.

- Nvidia (NVDA) shares dropped nearly 3.5% in a trading day that saw tech stocks slide across the board. The Nasdaq 100 closed down 1.4% - its second-worst drop since April’s tariff shock. 

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On this edition of Stock Movers:

- Intel (INTC) shares rallied today after SoftBank agreed to buy $2 billion of the chipmaker’s stock. Analysts see the news as a positive, but continue to see a number of questions surrounding the company’s prospects. Meantime, less than two weeks after President Donald Trump called for the ouster of Intel Corp.’s Lip-Bu Tan, the company’s chief executive officer has a shot at securing billions of dollars in fresh capital that could help him turn around the troubled US chipmaker. The Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.

- Viking Therapeutics (VKTX) shares plunged after the company released results from a mid-stage study of an experimental oral obesity pill that showed side effects caused about 28% of patients to drop out of the trial in just three months. That dashed speculation the oral treatment could compete with popular weight-loss injections from Eli Lilly & Co and Novo Nordisk A/S.

- Home Depot (HD) shares rose today after the company's sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening. The world’s largest home-improvement retailer said comparable sales grew 1% in the quarter, modestly below what analysts had estimated but an improvement from a 3.3% slump a year ago. “These may be shallow gains, but they show a material strengthening over the last quarter and provide confidence that the slump in home improvement is finally over,” GlobalData analyst Neil Saunders wrote in a note.

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On this episode of Stock Movers:
- Nexstar (NXST) shares rise after news that the company will buy TV station operator Tegna for $3.5 billion in a cash deal that values Tegna at $22 a share.
- Home Depot (HD) gains after comparable sales returned to growth in 2Q, rising 1% versus a 3.3% drop y/y; but that fell short of analyst estimates for a 1.39% growth rate.
- Intel (INTC) shares are up after Softbank agreed to take a $2 billion stake in Intel. That's after a report that the Trump administration is in discussions to take a stake of about 10% in the US chipmaker.

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On this episode of Stock Movers:
- Home Depot (HD) shares are lower after sales metric disappointed in the latest quarter, a sign that consumers are staying away from big purchases as interest rates remain high and inflation uncertainties linger. CFO Richard McPhail said consumers are increasingly taking on small projects, but larger projects remain on hold as rates remain elevated and economic uncertainty persists.
- Intel (INTC) is higher after it was reported by Bloomberg that the Trump administration is in discussions to take a stake of about 10% in Intel Corp. by converting grants made under the US Chips and Science Act into equity. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.
- Nexstar Media (NXST) shares are moving on deal news. Nexstar will acquire all outstanding shares of Tegna for $22 per share in a cash deal valued at $6.2 billion. The purchase price represents a 31% premium to TEGNA’s average 30-day average stock price ending Aug. 8

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Home Depot (HD) shares are lower after sales metric disappointed in the latest quarter, a sign that consumers are staying away from big purchases as interest rates remain high and inflation uncertainties linger. CFO Richard McPhail said consumers are increasingly taking on small projects, but larger projects remain on hold as rates remain elevated and economic uncertainty persists.
- Medtronic (MDT) is lower after it reported profit that beat estimates and lifted full-year earnings guidance after lowering its forecast for tariff costs. CEO Geoffrey Martha said “We’re confident and well positioned to accelerate our revenue growth in the second half of our fiscal year” in a statement.
- Intel (INTC) is higher after it was reported by Bloomberg that the Trump administration is in discussions to take a stake of about 10% in Intel Corp. by converting grants made under the US Chips and Science Act into equity. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.

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On this episode of Stock Movers:
- IWG shares dropped as much as 15%, the most in three years, after its results. It forecast Ebitda for the full year of low end of $525 million to $565 million and saw $525 million to $565 million.
- Rheinmetall fell by as much as 2.6%. The defence firm is looking at whether it can produce air defense systems in the Netherlands, according to Dutch news outlets BNR and Het Financieele Dagblad.
- Glencore shares were up as much as 1.7% after the miner filed applications to have two copper projects with combined capital expenditure estimated at more than $13 billion included into Argentina’s investment incentive program.

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On this edition of Stock Movers:

- Palo Alto Networks Inc. (PANW) jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Fiscal-year sales will be about $10.5 billion, the company said Monday in a statement. Analysts, on average, estimated $10.4 billion, according to data compiled by Bloomberg. The shares increased about 5% in extended trading in New York, after closing at $176.17. Palo Alto’s results suggest the company’s strategy of offering a platform of cybersecurity products appeals to customers trying to reduce vendors and save money.

- Dayforce (DAY) shares surged today after Thoma Bravo is in talks to acquire the human resources management software provider according to people familiar with the matter. The buyout firm is planning to take the Minneapolis-based company private in a deal that could be announced as soon as the coming weeks, the people said, asking not to be identified as the matter is private. Shares of Dayforce rose as much as 28% on Monday for their biggest intraday gain in more than seven years. The stock was up 25% at 9:38 a.m in New York, giving the company a market value of about $10.6 billion. Dayforce’s shares also trade on the Toronto Stock Exchange.While discussions are advanced, they could still be delayed or falter and it’s possible another bidder may emerge, the people said. Representatives for Thoma Bravo and Dayforce didn’t immediately respond to requests for comment.

- First Solar (FSLR) and other solar stocks rose today after the Trump administration released new guidance on clean energy tax credits that were better than feared for solar companies.

See omnystudio.com/listener for privacy information.

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, Tim Stenovec and Emily Graffeo.

- GoodRx (GDRX) shares soared as much as 37%, the biggest intraday jump since July 2023, on news Novo Nordisk is slashing the cost of Ozempic and partnering with GoodRx to offer it at US pharmacies.

- Opendoor (OPEN) shares rallied again, extending a three-day winning streak of about 60%, as retail traders continue buying. A plunge in the stock price had put the company at a risk of delisting. But last month, Canadian hedge fund manager Eric Jackson at EMJ Capital made a series of posts online laying out a bull case for the stock, leading to a surge. 

- Intel (INTC) shares slipped today on word that the Trump administration is considering a stake of about 10% in the beleaguered chipmaker. The federal government is considering a potential investment in Intel that would involve converting some or all of the company’s grants from the US Chips and Science Act into equity, said the people, who asked not to be identified because the information is confidential. Intel has been slated to receive a combined $10.9 billion in Chips Act grants for commercial and military production.

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On this episode of Stock Movers:
- Novo Nordisk (NVO) shares rise after news that it's slashing the cost of Ozempic for cash-paying patients to $499 a month through NovoCare and partnering with GoodRx Holdings Inc. to offer it at the same price at US pharmacies.
- GoodRX (GDRX) shares surge on news Novo Nordisk is slashing the cost of Ozempic and partnering with GoodRx to offer it at US pharmacies.
- CVS (CVS) shares gain after UBS upgraded the drugstore chain to buy from neutral. Analyst Kevin Caliendo writes that the upgrade follows “two strong consecutive quarters of execution and early signs that the Healthcare Benefits (HCB) segment fixes are on track.”

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Dayforce (DAY) shares rise after news that Thoma Bravo is in talks to acquire human resources management software provider Dayforce Inc., according to people familiar with the matter.
- Soho House (SHCO) shares gain after news that a group of investors led by MCR will buy Soho House & Co. for about $9 per share in cash, a premium of about 83% over the closing stock price of Dec. 18.
- UnitedHealth (UNH) shares are up after Warren Buffett’s Berkshire Hathaway Inc. and other investors recently bought shares in the health insurer. Shares had slid 46% year-to-date through Thursday’s close as the company contended with softening results and a federal probe of its business practices.

See omnystudio.com/listener for privacy information.