Stock Movers

On this edition of Stock Movers:

- Samsung (SSNHZ) shares are surging after the company will produce AI semiconductors for Tesla Inc. in a new $16.5 billion pact that marks a win for its underperforming foundry division. South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report. Samsung’s Seoul-traded shares rose 6.8% to their highest since September, while its suppliers like Soulbrain Co. jumped 16%. Tesla’s stock rose more than 1% in early US trading. A Samsung spokesperson declined to comment, citing confidentiality terms in its contract.

- Nike (NKE) shares are gaining today after JPMorgan upgrades to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

- PayPal (PYPL) shares are up today. The company will soon allow businesses to accept more than one hundred cryptocurrencies at checkout. The option is going live in the coming weeks and will allow merchants to accept crypto such as Bitcoin, Ethereum, Tether’s USDT and Circle’s USDC, from wallets including Coinbase, OKX, Phantom, MetaMask and Exodus. When a consumer pays with crypto, the funds are automatically converted into fiat or PayPal’s PYUSD stablecoin for deposit in the merchant’s account. “You have globally 650 million users that participate in the $3 trillion market of cryptocurrencies,” said Frank Keller, general manager of large enterprise and merchant platform at PayPal, in an interview with Bloomberg. “We wanted to give small businesses access to this customer base that is growing.”

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On this episode of Stock Movers:
- Nike (NKE) shares rise after JPMorgan upgrades to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan.
- GE Vernov (GEEV) falls after it received a pair of downgrades, with analysts cutting their views on the electric-power company in the wake of results that led to sharp gains in the stock.
- ASML (ASML) shares gain after its key customer, Samsung, wins a contract to make AI chips for Tesla. Meanwhile, a US-EU trade agreement that exempts tariffs on semiconductor equipment gives an additional boost to the sector after its two-week long slide.

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On this episode of Stock Movers:
- LNG and defense stocks rise in premarket trading, after the European Union agreed a trade deal with the US, committing to big purchases of American energy products as part of the pact.
- Samsung Electronics will produce AI semiconductors for Tesla (TSLA) in a new $16.5 billion pact that marks a win for its underperforming foundry division.South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report.
- Boeing Co. (BA) is preparing for a strike at its St. Louis defense hub after factory workers rejected a contract offer that would’ve boosted their wages by 20% over four years.The International Association of Machinists and Aerospace Workers Local 837, which represents 3,200 Boeing defense workers in Missouri and Illinois, said its members voted overwhelmingly against the new terms Sunday.

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On this episode of Stock Movers:
- Shares in automakers led a relief rally in European stocks on Monday after the US and EU agreed to a trade deal, with the bloc facing 15% tariffs on most of its exports, including cars.
- ASML and other European semiconductor equipment stocks gain after their key customer, Samsung, wins a contract to make AI chips for Tesla. Meanwhile, a US-EU trade agreement has staved off trade war fears, offering an additional boost to the sector after its two-week long slide.
- Heineken saw a decline in beer volumes, as retailer disputes across Europe dragged on sales and limited its ability to take advantage of the summer heat wave.

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Bloomberg Intelligence Senior Analyst Anurag Rana says Microsoft's critical software portfolio and AI sales could offset weakness due to rising economic uncertainty in other business areas, such as non-AI cloud spending, advertising and seat growth in Office. Rana believes that although products like Office and Windows aren't particularly susceptible to tariff shocks, gains in new users will likely be challenging through 2025. Bloomberg Intelligence also says the non-AI Azure expansion rate could suffer as enterprises cut back on cloud consumption to save costs. In addition, he notes the relationship with OpenAI positions Microsoft to capture increased AI spending, and the company could top $20 billion in AI sales this year.   

For more on upcoming earnings from Microsoft, along with other big tech companies, Rana speaks with Bloomberg's Paul Sweeney and Isabelle Lee.

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On this episode of Stock Movers:   

- Coca-Cola Co. said it’s launching a new Coke product for American consumers made with US cane sugar this fall.
Tuesday’s announcement came less than a week after President Donald Trump said in a Truth Social post that the company agreed to use cane sugar in its US Coke beverages. On a call with analysts, Chief Executive Officer James Quincey thanked the president for his “enthusiasm for our Coca-Cola brand.” 
The company also posted second-quarter sales growth and profit that beat Wall Street expectations as consumers continued to pay higher prices for the company’s soft drinks. It now expects full-year comparable earnings per share growth of about 3%, up from a range of 2% to 3%.    

- General Motors Co. said it suffered a $1.1 billion profit hit from Donald Trump’s tariffs and revealed no plan for a near-term fix to return to pre-tariff profit levels.
The Detroit-based automaker said Tuesday it earned $2.53 per share on an adjusted basis, above the Bloomberg consensus forecast of $2.33 but short of the $3.06 it made a year ago. GM’s profits also suffered from higher warranty costs and a buildup in inventory of electric vehicles, which are set to lose federal subsidies under Trump’s recently passed budget bill.
GM’s results showcase the difficulty automakers face to maintain profits in an environment that newly penalizes globally integrated parts supply chains and cross-border vehicle sales. Even though the automaker beat profit expectations, earnings in its all-important US business suffered from import duties on vehicles made in Canada, Mexico and South Korea.
GM hasn’t moved to raise already high average sticker prices enough to recoup tariff costs, instead opting to absorb the blow by cutting costs and repatriating some production. Chief Executive Mary Barra hinted at the challenges adjusting to the new reality in a letter to shareholders. 

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On this episode of Stock Movers:

- Chipotle (CMG) shares plunged after cutting its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven’t been enough to offset a traffic slump that the company attributed to economic anxiety. Sales at established restaurants are now expected to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. The shares tumbled as much as 14% during trading on Thursday, their biggest intraday drop since March 2020. The stock was down 12% this year through Wednesday’s close, among the worst performers in US restaurants.

- GE Vernova (GEV) shares rose on new it increased its sales of transformers and other electrical equipment to big tech firms building large data centers.That’s helped the company boost its total sales of electrical equipment to about $500 million in the first half of the year, compared with $600 million for all of 2024, Chief Executive Officer Scott Strazik said in an interview on Wednesday. “We’re accelerating our direct selling with the hyperscalers,” he said. The demand for power is surging to levels not seen in decades, driven by data centers, new factories and the overall electrification of the economy. That has increased investor interest in everything to do with electricity and has bolstered GE Vernova, which raised its 2025 guidance on Wednesday as it reported second-quarter earnings.

- Texas Instruments (TXN), a key chipmaker for producers of cars and factory equipment, tumbled after stoking fears that a tariff-fueled surge in demand will be short-lived. Though the company issued a third-quarter forecast on Tuesday that beat most estimates, the outlook was more guarded than some investors had anticipated. The stock fell further during a conference call, when executives struggled to win over analysts who said the company’s tone had become increasingly negative. The main concern is whether tariffs and trade disputes will hurt a sales resurgence that’s still in the early stages. While revenue jumped 16% last quarter, executives acknowledged that they didn’t know how much of that came from tariff-related “pull in” — customers making purchases to get out ahead of the levies.

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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, Carol Massar and Tim Stenovec.

- Intel (INTC) shares tumbled nearly 10% during trading Friday after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge. As part of Intel’s second-quarter report, Tan said the company will cancel some factory projects and take a more conservative approach to future spending. Tan called the investments begun under his predecessor, Pat Gelsinger, excessive and unwise.“I do not subscribe to the belief that if you build it, they will come,” he said on a conference call with analysts. At the same time, Tan struggled to give a clear picture of how he’ll make the company more competitive again. Gelsinger had embarked on an ambitious plan to turn Intel into a chip foundry, a business that makes products for outside clients. A key part of that was moving toward a more advanced production technique called 14A. But Tan signaled Thursday that Intel will only roll out that technology tentatively.

- Tesla (TSLA) shares rebounded after a rough stretch following earnings and CEO Elon Musk warning of difficult times ahead. “We probably could have a few rough quarters,” Musk said. “But once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”

- Deckers (DECK) shares soared during trading on Friday. Fuzzy Ugg boots and chunky Hoka running shoes saw big sales gains last quarter, bolstering financial results for parent company Deckers Outdoor Corp. Net sales for both brands surpassed analysts’ estimates in the fiscal first quarter ended June 30. Ugg sales rose about 19% from a year ago, while Hoka increased roughly 20%, Deckers said in a statement. The company’s shares gained as much as 21% on Friday, the biggest intraday rise since October 2023. The stock had fallen 48% this year through Thursday’s close. Rival Swiss sneaker marker On Holding AG shares also rose 5.3% in premarket trading.

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On this episode of Stock Movers:

- Intel (INTC) shares slid nearly 10% during trading today after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge. As part of Intel’s second-quarter report, Tan said the company will cancel some factory projects and take a more conservative approach to future spending. Tan called the investments begun under his predecessor, Pat Gelsinger, excessive and unwise. “I do not subscribe to the belief that if you build it, they will come,” he said on a conference call with analysts. At the same time, Tan struggled to give a clear picture of how he’ll make the company more competitive again. Gelsinger had embarked on an ambitious plan to turn Intel into a chip foundry, a business that makes products for outside clients. A key part of that was moving toward a more advanced production technique called 14A. But Tan signaled Thursday that Intel will only roll out that technology tentatively.

- Deckers (DECK) shares soared today after net sales for Ugg boots and Hoka running shows saw big sales gains in the last quarter, bolstering financial results for parent company Deckers Outdoor. The company’s shares gained as much as 21% on Friday, the biggest intraday rise since October 2023. The stock had fallen 48% this year through Thursday’s close. Rival Swiss sneaker marker On Holding AG shares also rose 5.3% in premarket trading. Chief Executive Officer Stefano Caroti has been steering Deckers through tariff pressures while trying to capitalize on the rising popularity of Hoka sneakers in the running shoe category. Its Ugg brand, known for its stout sheepskin boots, has long been a steady winner for the company.

- Boston Beer (SAM) shares were up after the alcoholic beverage maker reported earnings that beat estimates.

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On this episode of Stock Movers:
- Charter Comms (CHTR) shares fall after the company reported it lost more Internet customers than expected during the second quarter amid increased pressure from mobile companies’ 5G and fiber home internet offerings.
- Estee Lauder (EL) shares rise after JPMorgan upgraded the cosmetics company to overweight from neutral.
- Paramount (PARA) shares gain after the Federal Communications Commission approved Paramount Global's merger with Skydance Media after the Trump administration extracted concessions on the news and entertainment company's political coverage and diversity practices.

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