Stock Movers

On this episode of Stock Movers:
- Bank of America (BAC) shares are popping on the company reporting traders posted a record second quarter, reaping the benefits of volatile markets and net interest income topping analysts' estimates. Revenue from fixed income, currencies and commodities trading jumped 19% to $3.25 billion, and equity trading rose 9.6% to $2.13 billion, both topping expectations.
- ASML (ASML) shares are lower after Chief Executive Officer Christophe Fouquet walked back the company’s growth forecast for next year, blaming trade disputes and global tensions. ASML forecast third-quarter net sales between €7.4 billion and €7.9 billion, which is below the average analyst estimate, and expects 15% revenue growth for the year.
- Lam Research (LRCX) is also lower on the ASML news amid a chip stock selloff. According to Bloomberg Intelligence analysts Masahiro Wakasugi and Takumi Okano, ASML faces a potential downward revision in consensus sales, but there’s a possibility it could report solid sales growth for the year.
- Johnson & Johnson (JNJ) shares are higher as J&J beat Wall Street’s quarterly sales expectations and raised its full-year outlook, showing confidence as the pharmaceutical industry faces threats of tariffs and a crackdown on drug pricing.

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On this episode of Stock Movers:
- Renault shares sank the most since 2020 after the French automaker slashed its profitability outlook and named company veteran Duncan Minto interim chief executive officer. Renault shares fell as much as 17%, after the French carmaker issued a profit warning on Tuesday evening, lowering operating margin guidance for this year to around 6.5%, from at least 7% previously. The revised guidance underscores the challenges Renault’s next management team is facing, including muted demand in Europe, mounting trade tensions and the growing competitiveness of Chinese manufacturers led by BYD Co.
- ASML Holding NV Chief Executive Officer Christophe Fouquet walked back the company’s growth forecast for next year due to trade disputes and global tensions. “We continue to see increasing uncertainty driven by macro-economic and geopolitical developments,” Fouquet said in a statement on ASML’s quarterly results Wednesday. “Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.” ASML’s shares fell as much as 7.1% to €655.70 in Amsterdam on Wednesday, the biggest decline since April. They have fallen 33% in the last year.
- Richemont posted better-than-expected sales as wealthy shoppers snapped up Cartier rings and bracelets, defying a wider downturn for luxury goods. Sales at the jewelry division, Richemont’s largest, surged 11% at constant exchange rates in the quarter ending in June, the Swiss luxury group said Wednesday. Analysts had forecast a gain of 8.6%. Overall, sales climbed 6%, ahead of expectations. The company’s shares rose as much as 2.4% in early Swiss trading, bringing the gain this year to about 12%.

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On this episode of Stock Movers:

- Citigroup (C) shares rose to the highest level since 2008 after the bank said it would ramp up stock buybacks following a strong result in regulatory stress tests. The company plans to repurchase at least $4 billion of shares this quarter, Chief Financial Officer Mark Mason said Tuesday on a call with analysts. That’s more than the $3.75 billion the firm bought back in the entire first half of the year, and the plans helped push the stock past $90 for the first time since the financial crisis.

- Nvidia (NVDA) shares surged today after the chipmaker along with Advanced Micro Devices (AMD) plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions. US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, the company said in a blog post on Monday — a move that may add billions to Nvidia’s revenue this year, restoring its ability to fulfill orders it had written off as lost due to government restrictions. Nvidia designed the less-advanced H20 chip to comply with earlier China trade curbs from Washington, which Trump’s team tightened in April to block H20 sales to the Asian country without a US permit.

- MP Materials (MP), the rare-earths producer that last week secured backing from the Pentagon, soared in pre-market trading on a report that it reached a deal to supply Apple Inc. The shares jumped as much as 14% to $55.39 after Fox Business said Apple is set to announce a $500 million deal with MP for rare-earth magnets from the company’s Texas facility, citing people familiar with the matter. Apple and MP Materials didn’t immediately respond to requests for comment outside of normal business hours in the US.

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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, Scarlet Fu, Emily Graffeo, and Tim Stenovec.

On this episode of Stock Movers:

- Nvidia (NVDA) notched record highs after the close, after news that the company, along with AMD, plan to resume sales of some AI chips in China after securing Washington's assurances that such shipments would get approved. US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, and AMD received similar assurances from the US Commerce Department for its MI308 chips. The move is seen as a win for Nvidia's Chief Executive Officer Jensen Huang, who has branded US chip curbs a "failure", and is expected to add billions to Nvidia's revenue this year, according to the company.

- Citigroup (C) shares closed up 3.7%, the highest level since 2008 after the bank said it would ramp up stock buybacks following a strong result in regulatory stress tests. The company plans to repurchase at least $4 billion of shares this quarter, Chief Financial Officer Mark Mason said Tuesday on a call with analysts. That’s more than the $3.75 billion the firm bought back in the entire first half of the year, and the plans helped push the stock past $90 for the first time since the financial crisis.

- Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts’ estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank’s markets business.

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On this episode of Stock Movers:

- Newmont (NEM) shares plunged following the resignation of the company’s chief financial officer. Shares of the world’s top gold producer fell as much as 8.9% on Tuesday in New York, marking the biggest drop since April. The slump followed Newmont’s post-market announcement Monday that CFO Karyn Ovelmen tendered her resignation last week. The company didn’t disclose the reason for her departure. Chief Legal Officer Peter Wexler will serve as interim CFO until a permanent successor is hired, the company said.

- Trade Desk (TTD) shares jump after S&P Dow Jones Indices said the advertising technology company will join the S&P 500 Index before trading opens on July 18.. Evercore ISI analyst Mark Mahaney says the inclusion is “additional confirmation of TTD’s very impressive fundamentals” and additional confirmation of the “centrality” of the Internet Sector

- Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts’ estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank’s markets business.

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On this episode of Stock Movers:
- AMD (AMD) shares gain after news that Nvidia and Advanced Micro Devices plan to resume sales of some AI chips in China after securing Washington's assurances that such shipments would get approved.
- BlackRock (BLK) shares fall. This comes after the firm pulled in $46 billion to its investment funds, and assets hit a record $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies.
- Uber (UBER) shares are down. Uber plans to team up with Baidu to launch robotaxis on the ride-sharing platform in several markets outside of the US and mainland China through a multiyear partnership.

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On this episode of Stock Movers:
- Nvidia (NVDA) shares rise after US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, according to a blog post.
- Citigroup (C) shares gain after revenue from the bank’s fixed-income trading business soared 20% to $4.3 billion versus $3.9 billion; stock traders raked in $1.6 billion.
- Wells Fargo (WFC) shares drop after the bank reported 2Q net interest income at $11.7 billion, just short of analyst estimates. The bank also lowered its full-year net interest income growth target to little changed from last year.

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On this episode of Stock Movers:
- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.
- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.
- Citi (C) shares are higher as traders had their best second quarter in five years, with revenue buoyed by record trading volumes in the quarter. Citigroup CEO Jane Fraser said, "We're improving the performance of each of our businesses to take share and drive higher returns," in a statement.
- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.

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On this episode of Stock Movers:
- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.
- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.
- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Britain’s biggest housebuilder Barratt Redrow Plc saw its annual sales fall short of previous guidance after weaker demand for its London homes, sending its share price plunging. The developer sold 16,565 homes in the year through June 29, despite saying in April it expected to sell between 16,800 and 17,200 units, according to a statement Tuesday. Barratt Redrow said this was mainly due to “fewer international and investor completions than expected” in its London businesses. The company’s share price fell as much as 13% in early trading, the most since September 2022 in the aftermath of former Prime Minister Liz Truss’s mini budget.
- B&M European Value Retail shares plunge as much as 14%, hitting their lowest level on record, after posting weaker topline growth than anticipated in the first quarter despite weak comparatives and favorable weather. Analysts note that this is the first formal update under CEO Tjeerd Jegen, with the focus at today’s call on how he aims to improve growth.
- Orsted climbs as much as 6.4% after Morgan Stanley upgrades the Danish offshore wind developer to overweight from equal-weight, saying in note that an improving risk/reward makes it “worth a fresh look”. Analyst Rob Pulleyn says risks on legacy US projects are now declining, while renewables are “at the turning of the cycle”.

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