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, Carol Massar and Tim Stenovec.

- Verizon (VZ) shares rallied after it posted second-quarter revenue that surpassed analysts’ estimates and raised its profit outlook, buoyed by wireless price increases and recent tax legislation. Operating revenue was $34.5 billion, up 5.2% from a year earlier, The New York-based carrier said in a statement. Wall Street had been expecting $33.7 billion, on average. Wireless service revenue, which excludes device purchases and upgrades, was $20.9 billion, in line with analysts’ projections. The strong performance, as well as “favorable tax reform,” led Verizon to boost some full-year guidance metrics, including adjusted earnings before interest, tax, depreciation and amortization and free cash flow. CEO Hans Vestberg said Verizon has “momentum and a clear path forward.”

- Opendoor (OPEN) shares were halted for volatility during trading today, jumping as much as 121%, extending its gravity-defying rally from last week, as investors continued to pile into the stock that has found a sudden fandom among retail traders and social-media platforms. The stock’s triple-digit surge sent shares soaring to $4.97, well-above the $1 level it was bouncing around for the last few months. While shares in the online platform for buying and selling US real estate since pared their rally — closing around 43% higher — it’s still its sixth straight day of gains. Trading was briefly halted in the afternoon because of volatility. Opendoor has been the subject of chatter among retail traders on social media in recent days after Eric Jackson, founder of Toronto-based hedge fund EMJ Capital made a series of posts on social media platform X encouraging buying. It was listed as the topmost actively traded stock on Stocktwits Monday afternoon, and was being heavily cited by posters on Reddit’s WallStreetBets thread.

- Lululemon (LULU) shares slipped today as the athleisure brand continues to suffer from slowing sales. Lululemon’s core black leggings, which are vital products that rarely are discounted, are piling up at outlet stores, according to Randal Konik, an analyst at Jefferies. That’s an alarming issue for Lululemon, he added, showing erosion in core demand for the brand’s clothes. “We’ve witnessed signals of a brand in decline and see risks to earnings ahead,” Konik said in a note to clients on Thursday. The analyst, a long-time critic of the company’s strategy, has had an underperform rating on Lululemon’s stock since 2022.

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On this edition of Stock Movers: 

- Block (XYZ) shares surged on the new it will join the S&P 500. Jack Dorsey's fintech firm will replace Hess in the benchmark. The changes will go into effect prior to the start of trading on July 23, according to a press release from S&P Dow Jones Indices Friday. Block, formerly known as Square, has evolved from a payments processor into a broader fintech player, offering peer-to-peer transfers, merchant services, and increasingly, consumer lending. Earlier this year, Block’s industrial bank subsidiary Square Financial Services Inc. received approval from the US Federal Deposit Insurance Corp. to begin offering consumer loans directly through the Cash App Borrow product. The company is also integrating Bitcoin payment capabilities into its Square terminals, reflecting Dorsey’s long-standing advocacy for Bitcoin. He remains an influential voice in the digital-asset world, recently sharing open-source coding projects on X.

- Domino's Pizza (DPZ) shares are down. Earlier today, the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations. Despite that, after the conference call, analysts weighed in on what might be pressuring the stock. “We think DPZ still has a strong year ahead of it and numbers seem beatable,” while stock reaction may be a function of “positioning, expectations, and broader QSR/pizza concerns,” Morgan Stanley’s Brian Harbour writes.

- Invesco (IVZ) shares are up after after TD Cowen analyst Bill Katz raised the recommendation on the investment management company to buy from hold, calling its move to unlock fee revenue from the QQQ ETF a “game changing event.” The company is also set to report second quarter earnings tomorrow.

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On this edition of Stock Movers:

- Verizon (VZ) posted second-quarter revenue that surpassed analysts’ estimates and raised its profit outlook, buoyed by wireless price increases and recent tax legislation. Operating revenue was $34.5 billion, up 5.2% from a year earlier, The New York-based carrier said in a statement. Wall Street had been expecting $33.7 billion, on average. Wireless service revenue, which excludes device purchases and upgrades, was $20.9 billion, in line with analysts’ projections. The strong performance, as well as “favorable tax reform,” led Verizon to boost some full-year guidance metrics, including adjusted earnings before interest, tax, depreciation and amortization and free cash flow. The shares rose as much as 4.7% Monday in New York, the most since January 2024. They are up 6.2% this year.

- Microsoft (MFST) shares slid after it warned that hackers are actively targeting customers of its document management software SharePoint, with security researchers flagging the risk of potentially widespread breaches around the world. Vulnerabilities in the software have allowed hackers to access file systems and execute code, the US Cybersecurity and Infrastructure Security Agency warned on Sunday. While Microsoft said over the weekend that it had released a new patch for customers to apply to their SharePoint servers “to mitigate active attacks targeting on-premises servers,” the company was still working to roll out others to address ongoing security flaws.

- Block (XYZ) shares surged on the new it will join the S&P 500. Jack Dorsey's fintech firm will replace Hess in the benchmark. The changes will go into effect prior to the start of trading on July 23, according to a press release from S&P Dow Jones Indices Friday. Block, formerly known as Square, has evolved from a payments processor into a broader fintech player, offering peer-to-peer transfers, merchant services, and increasingly, consumer lending. Earlier this year, Block’s industrial bank subsidiary Square Financial Services Inc. received approval from the US Federal Deposit Insurance Corp. to begin offering consumer loans directly through the Cash App Borrow product. The company is also integrating Bitcoin payment capabilities into its Square terminals, reflecting Dorsey’s long-standing advocacy for Bitcoin. He remains an influential voice in the digital-asset world, recently sharing open-source coding projects on X.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:

- Verizon (VZ) shares gain after the company posted second-quarter revenue that surpassed analysts’ estimates and raised its profit outlook, buoyed by wireless price increases and recent tax legislation.

- Dollar Tree (DLTR) shares rise after a couple of bullish analysts’ notes, including an upgrade from Barclays, and a Street-high PT boost from JPMorgan, which also added the retailer to its Analysts Favorites List. 

- Target (TGT) shares dip after Barclays analyst Seth Sigman cut his recommendation on the retailer to underweight from equal-weight. In addition, his analysis points to continued underperformance in both consumables segment and in general merchandise, with trends appearing weakest among Target’s more frequent shoppers.

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On this episode of Stock Movers:
- Microsoft (MSFT) shares fall after the company warned that hackers are actively targeting customers of its document management software SharePoint, with security researchers flagging the risk of potentially widespread breaches around the world.
- Equinix (EQIX) shares rise. Elliott Investment Management has built up its stake in Equinix and is pushing the company to take steps to boost its share price, people with knowledge of the matter said.
- Domino's (DPZ) shares climb after the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations.

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On this episode of Stock Movers:
- Verizon (VZ) is getting a lift this morning after the company raised its profit outlook. The company posted second-quarter revenue that surpassed analysts’ estimates, with operating revenue of $34.5 billion, up 5.2% from a year earlier. Verizon raised its profit outlook, citing "favorable tax reform" and strong performance, with Chief Executive Officer Hans Vestberg saying Verizon has "momentum and a clear path forward."
- Stellantis (STLA) is fell to a three-month low after the maker of Fiat, Citroen and Jeep autos reported a preliminary first-half loss of €2.3 billion, due to restructuring expenses, waning sales and the impact of US tariffs. Bloomberg Intelligence analysts said the loss may reflect new CEO Antonio Filosa seeking to get all the bad news out of the way, to provide a low base to build from.
- Domino's (DPZ) is higher as the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Verizon (VZ) is getting a lift this morning after the company raised its profit outlook. The company posted second-quarter revenue that surpassed analysts’ estimates, with operating revenue of $34.5 billion, up 5.2% from a year earlier. Verizon raised its profit outlook, citing "favorable tax reform" and strong performance, with Chief Executive Officer Hans Vestberg saying Verizon has "momentum and a clear path forward."
- Stellantis (STLA) is fell to a three-month low after the maker of Fiat, Citroen and Jeep autos reported a preliminary first-half loss of €2.3 billion, due to restructuring expenses, waning sales and the impact of US tariffs. Bloomberg Intelligence analysts said the loss may reflect new CEO Antonio Filosa seeking to get all the bad news out of the way, to provide a low base to build from.
- Domino's (DPZ) is higher as the restaurant operator reported second-quarter comparable sales growth that topped Wall Street expectations.
- Block (XYZ) is surging as it's set to join the S&P 500 index, a milestone that underscores the growing influence of digital payments and crypto in mainstream finance. The fintech firm will replace Hess Corp. in the benchmark, following Chevron Corp.’s acquisition of the energy producer.

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On this episode of Stock Movers:
- Ryanair Holdings Plc net income in the first quarter more than doubled, and the budget airline said it will recover most of the fare drop suffered last year. The stock jumped almost 10% at the open, its biggest gain in almost a month. Before today, shares of the carrier were already up 21% this year, while low-cost rivals EasyJet Plc and Wizz Air Holdings have dropped 11% and 27%, respectively.
- Stellantis NV swung to a €2.3 billion ($2.7 billion) net loss in the first half as restructuring expenses, waning sales and the impact of US tariffs hit the struggling automaker. Car shipments fell 6% in the second quarter amid declines in North America and Europe. Stellantis shares fell 3.8% in Milan. The stock is down around 39% this year.
- Covivio shares rise as much as 3.5%, the most in over three months, after the real estate investment trust raised its earnings outlook for the year. Analysts at Citi said the update supports its buy rating on the stock.

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United Airlines Holdings Inc. said the second half of the year has become more predictable and suggested it may be able to beat its earnings targets after customers resumed booking flights following a tumultuous start to 2025.   

The aviation industry has been whipsawed this year as consumers fret over the fallout from tariffs and inflation, and as disruptions at key airports like Newark Liberty International Airport near New York, a major United hub, deterred customers. Delta Air Lines Inc. said last week that travel in the US is recovering after approval of US President Donald Trump’s tax-cut and spending package and progress in tariff negotiations eased economic uncertainty.   

For more on the state of the US airline industry, Lisa Mateo and Paul Sweeney speak to Bloomberg Intelligence Senior Analyst George Ferguson.

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Wall Street banks were optimistic Donald Trump’s second term would unleash a dealmaking boom. Instead, it’s delivered a trading bonanza.   

First-half trading revenue at the five biggest lenders jumped $10 billion from last year to a record level, with tariffs and tax policy driving a surge of activity across equity, currency and bond markets. Investment-banking revenue, meanwhile, nudged up less than $1 billion, and is still almost 40% below the 2021 peak as that same volatility weighed on merger and IPO volumes.   

For more on earnings results from the world's biggest banks, Tim Stenovec and Katie Greifeld speak with Ken Leon, Director of Equity Research at CFRA.

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