Stock Movers

On this episode of Stock Movers:
- Intel (INTC) shares fall after US President Donald Trump calls for the chipmaker’s chief executive officer to resign, because of what he called conflicts of interest. This adds to the challenges for a company that is supposed to anchor restoration of the US semiconductor industry.
- Eli Lilly (LLY) shares drop after its' new weight-loss pill had lower weight loss and higher rates of nausea and vomiting than anticipated in a study, according to the company. Lilly’s sky-high valuation is tied in part to eventually turning its weight-loss pill into a blockbuster

- DoorDash (DASH) shares rise after the company issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations. It's a sign that demand for its services remains resilient despite broader concerns about consumer spending.

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On this episode of Stock Movers:
- Intel (ITNC) shares are lower after President Trump called on the chief executive officer of Intel Corp. to resign because of what he called conflicts of interest, adding to the challenges for a company that is supposed to anchor restoration of the US semiconductor industry. A spokesperson for Intel didn’t immediately respond to a request for comment on Trump’s post. This week, Republican Senator Tom Cotton asked the chairman of Intel’s board to answer questions about Chief Executive Officer Lip-Bu Tan’s ties to China, including investments in the country’s semiconductor companies and others with connections to the country’s military. Intel said it would address the matters in the letter with the senator, stating that "Intel and Mr. Tan are deeply committed to the national security of the United States and the integrity of our role in the U.S. defense ecosystem".
- Peloton (PTON) is soaring after it projected a sales decline for the current quarter and said it would cut jobs, but expressed confidence in a turnaround plan under new management. The company reported revenue of $607 million in the quarter ending in June, a 6% decline, but beat estimates, and said overall gross profit improved and operating expenses shrank by 20%. Peloton plans to cut 6% of its workers globally to reduce costs, and will also expand its microstore lineup, third-party retail availability, and create a unified division for selling equipment to gyms.
- Eli Lilly (LLY) is lower on news its experimental pill helped patients shed roughly 11% of their body weight in a late-stage study. The result falls on the lower end of Wall Street's expectations, as investors had hoped the pill would be as effective as Novo Nordisk A/S's Wegovy. Full year revenue did come in higher in Eli Lilly's earnings today as well.
- Airbnb (ABNB) are lower after issuing a better-than-expected outlook for the third quarter due to encouraging summer travel demand. The company expects growth rates to be "relatively stable" from the 7.4% achieved in the second quarter, but warned of tougher year-over-year comparisons later in the year.

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On this episode of Stock Movers:
- Eli Lilly (LLY) is lower on news its experimental pill helped patients shed roughly 11% of their body weight in a late-stage study. The result falls on the lower end of Wall Street's expectations, as investors had hoped the pill would be as effective as Novo Nordisk A/S's Wegovy. Full year revenue did come in higher in Eli Lilly's earnings today as well.
- Novo Nordisk (NVO) shares are rising on the Eli Lilly news. Investors had hoped Lilly’s pill, called orforglipron, would be as effective as Wegovy — the blockbuster weight-loss shot made by Novo Nordisk A/S. Novo rose as much as 8.4% in Copenhagen on the Eli Lilly results, the most in almost four months.
- Fortinet (FTNT) tumbled after the software company gave an update to its firewall refresh cycle. At least three analysts downgraded their rating on the stock saying the product refresh cycle is now looking like a “much smaller catalyst than expected.”
- Airbnb (ABNB) are lower after issuing a better-than-expected outlook for the third quarter due to encouraging summer travel demand. The company expects growth rates to be "relatively stable" from the 7.4% achieved in the second quarter, but warned of tougher year-over-year comparisons later in the year.
- Doordash (DASH) is higher as it issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations, with a gross order value range of $24.2 billion to $24.7 billion. The company attributed its better-than-expected second-quarter results to a growing number of active customers and increased engagement, with "high levels of consumer engagement in the US" evident across many metrics.

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On this episode of Stock Movers:
- WPP dropped as much as 5.2% following its second quarter results. Having issued a profit warning in July, CEO Mark Read reiterated guidance and first-half results were broadly as expected.
- Deutsche Telekom shares slid as much as 6.1% after the telecom operator reported sales and Ebitda that missed estimates in its home market Germany. It flags intense rivalry in the local broadband market after losing 20,000 lines in 2Q, while mobile customer additions also worsened after a corporate client switched to a competitor.
- Sandoz Group stocks went up as much as 5.5%. The pharmaceutical company reported net sales for the second quarter that beat the average analyst estimate.

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On this edition of Stock Movers:

- Duolingo (DUOL) shares rose today after the company lifted its earnings forecast for the year and said it had acquired a music-gaming startup to help speed up the broadening of its offerings beyond language-learning games. The company now expects full-year revenue of $1.01 billion to $1.02 billion, up from $987 million to $996 million it previously expected, a revision it attributed to the better-than-expected performance of its subscription tiers in the second quarter. Duolingo shares, which have risen around 6% this year through the market close Wednesday, were 11% higher in post-market trade.

- DoorDash (DASH) shares jumped today after the largest food delivery service in the US, issued an outlook for orders in the third quarter that surpassed Wall Street’s expectations, a sign that demand for its services remains resilient despite broader concerns about consumer spending. The company sees gross order value for the three months ending September in the range of $24.2 billion to $24.7 billion, exceeding the average Bloomberg-compiled estimate of $23.8 billion. The forecast was accompanied by better-than-expected second-quarter results, which the company attributed to a growing number of active customers and increased engagement.

- Walt Disney Co. (DIS) shares slid after the company disappointed Wall Street with a tepid full-year profit forecast, weighed down by its struggling movie and TV businesses. Earnings should increase 18% to $5.85 share in fiscal 2025, excluding some costs, the company said Wednesday. That outlook was less than some analysts had been expecting and put a damper on a mostly positive third-quarter report that showed strength in theme parks and streaming, two growth businesses. Overall revenue increased 2.1% to $23.7 billion in the three months ended June 28, Disney said, in line with analysts’ projections. Earnings rose to $1.61 a share, excluding some items, beating the $1.46 average analyst’s estimate, according to data compiled by Bloomberg. The shares slid 2.10% to $115.85 Wednesday afternoon in New York. They are up 4% this year.

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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, Vonnie Quinn, Carol Massar and Matt Miller.

On this episode of Stock Movers, 

- Apple (AAPL) rallied today after President Donald Trump planned to announce that Apple will commit to spending another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones.The announcement at the White House on Wednesday includes a new manufacturing program designed to bring more of Apple’s supply chain to the US, with an eye toward assembling additional critical components domestically, according to a White House official who detailed the announcement on the condition of anonymity. Apple Chief Executive Officer Tim Cook is expected to attend the event.

- Arista Networks Inc.'s shares have more than doubled since April, reaching an all-time high, with CEO Jayshree Ullal's fortune at $6.4 billion. The rise in Arista's stock has also increased the net worth of co-founders Ken Duda, Andy Bechtolsheim, and David Cheriton, with Duda's net worth at $1.2 billion. Arista's growth is attributed to the demand for better networking gear, with the company's market share doubling and big customers including Microsoft Corp. and Meta Platforms Inc.

- Shopify Inc. surged to become the most valuable company in Canada after reporting a quarterly performance that Citigroup called a “blowout”. Shopify's market capitalization rose to C$275 billion, surpassing Royal Bank of Canada in value once again, according to the text. Bloomberg Intelligence analyst Anurag Rana said Shopify has been able to gain a greater share in the e-commerce market, particularly outside of North America.

Plus earnings after the bell from the following companies:
AirBnB (ABNB)
Informatica (INFA)
Lyft (LYFT)
Bumble (BMBL)
Zillow (Z)
Remitly (RELY)
Elf (ELF)
Duolingo (DUOL)
TKO Holdings (TKO)
Doordash (DASH)
Fortinet (FTNT)

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On this edition of Stock Movers:

- McDonald's (MCD) shares are up today after sales picked up in the latest quarter, suggesting that pop culture-focused collaborations and budget meals are helping to offset diners’ economic anxiety. Global sales at restaurants open at least 13 months rose 3.8% in the second quarter, the company said Wednesday. That’s higher than the average estimate of analysts polled by Bloomberg. International markets led the company’s growth, while the US was slightly ahead of expectations as Americans spent more per trip. The results ended four quarters of declining or tepid growth as the burger chain dealt with an E. coli outbreak, backlash against American brands in the Middle East and consumer unease about the economy in response to President Trump’s trade disputes. Total guest counts around the world rose, Chief Executive Officer Chris Kempczinski said on call with analysts.

- Snap (SNAP) shares tumbled after the owner of the Snapchat photo-sharing app acknowledged a slowdown in advertising revenue growth, due in part to a technical issue with its ad-buying tools earlier this year. The company on Tuesday reported second-quarter sales that were shy of Wall Street’s average estimate, and on a call with investors later said that ad revenue, which rose by 9% in the first quarter, is now gaining at a rate of 3% to 4%. Snap shares, which have fallen 13% so far this year, slid more than 17% in premarket trading on Wednesday after closing at $9.39 in New York. Revenue in the June quarter was crimped when the company shipped an update to its advertising auction that inadvertently allowed marketers to buy ads at “substantially reduced prices,” Snap said. That issue has been fixed, and “advertising revenue growth has improved,” Snap said in a letter to shareholders Tuesday. The company, which gets about 90% of its revenue from advertising, forecast overall sales in the current period that will likely be higher than analysts projected.

- Lucid (LCD) shares are down after the electric vehicle maker reported earnings on Tuesday and missed second quarter estimates. Lucid trimmed its full-year production outlook, making the electric vehicle manufacturer the latest carmaker to temper expectations for the year. The company now expects to produce between 18,000 and 20,000 EVs in 2025, down at the midpoint from its earlier forecast for 20,000 vehicles, Lucid said as it reported second-quarter earnings on Tuesday. Although it didn’t immediately detail the reason for the change, the company faced a “challenging macroeconomic backdrop” in the most recent quarter, Chief Financial Officer Taoufiq Boussaid said in the statement.

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On this episode of Stock Movers:

- McDonald's (MCD) shares rise after sales picked up in the latest quarter, suggesting that pop culture-focused collaborations and budget meals are helping to offset diners’ economic anxiety. Global sales at restaurants open at least 13 months rose 3.8% in the second quarter, the company said Wednesday.

 
- Snap (SNAP) shares fall. The company's ad revenue growth rate slowed to 3% to 4% from 9% in the first quarter, and revenue in the June quarter was affected by an update that allowed marketers to buy ads at reduced prices.

- Lucid (LCID) shares drop after the electric-vehicle maker lowered its production forecast for the full year and the company’s second-quarter results were worse than expectations. The company now expects to produce between 18,000 and 20,000 EVs in 2025, down at the midpoint from its earlier forecast for 20,000 vehicles, Lucid said.

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On this episode of Stock Movers:

- Super Micro (SMCI) shares fall after the company lowered its fiscal-year revenue forecast to at least $33 billion, according to a statement. The company's revised fiscal-year outlook raises questions about its ability to capitalize on demand for artificial intelligence equipment with the latest Nvidia chips, as it has been struggling with margins.

- Match (MTCH) shares rise after the company provided a better-than-expected third-quarter sales forecast, with expected revenue ranging from $910 million to $920 million. The company plans to invest $50 million in product development and marketing expenses for its dating apps, including Tinder and Hinge. - Walt Disney (DIS) shares fall after third quarter earnings. However, analysts noted strength in the company’s streaming business. Disney has been making a big push into streaming, with new projects built around its sports franchise ESPN and Hulu.

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On this episode of Stock Movers:
- Snap (SNAP) shares are continuing their slide after the company reported a slowdown in advertising revenue growth due to a technical issue with its ad-buying tools. The company's ad revenue growth rate slowed to 3% to 4% from 9% in the first quarter, and revenue in the June quarter was affected by an update that allowed marketers to buy ads at reduced prices. Snap forecast overall sales in the current period that will likely be higher than analysts projected, and reported growth in its subscription business, with Snapchat+ reaching almost 16 million paying subscribers.
- Disney (DIS) shares are lower despite an earnings beat. Disney raised its adjusted earnings per share guidance for the full year to $5.85 from $5.75 beating the average analyst estimate. The California-based entertainment giant also boosted its experiences operating income growth for fiscal 2025, a segment that includes the company’s cruises and theme parks offerings. However, revenue from conventional TV networks and sports programming fell short of Wall Street’s expectations.
- Advanced Micro Devices (AMD) shares are lower after the company was unable to give a clear outlook for resuming sales in China. Chief Executive Officer Lisa Su said "As our licenses are still under review, we are not including any MI308 revenue in our third-quarter guidance" on a conference call with analysts.

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