Stock Movers

On this episode of Stock Movers:

- Waters Corp. (WAT) shares fell after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions in a Reverse Morris Trust transaction valued at about $17.5 billion.

- Autodesk (ADSK) shares rose after the company is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said, which would have ranked as one of the year’s largest deals. The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC, according to the people, who asked not to be identified discussing confidential information.

- Palantir (PLTR) shares hit record highs after President Trump is set to announce $70 billion in artificial intelligence and energy investments in Pennsylvania on Tuesday, the latest push from the White House to speed up development of the emerging technology. Trump is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. There has also been 13F filings that show Gateway Investment Advisers boosted its stake in Palantir in the June 30 quarter.

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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, Norah Mulinda and Tim Stenovec.

On this episode of Stock Movers:

- Fastenal (FAST) shares were 4% higher at the close after the company posted earnings in line with estimates this morning. Analysts see the slightly better-than-expected June earnings as an encouraging sign amid tariff uncertainty. Fastinal CEO Daniel Florness says it is difficult to move manufacturing fully back to the United States and is seeing "limited" signs its customers are shifting manufacturing back to the US.

- Warner Brothers Discovery (WBD) shares were up 2% after Superman ticket sales beat expectations, bringing in $125 million domestically and $220 million worldwide, according to a statement from Warner Brothers. Superman is the opening chapter in a 10-year plan to interweave movies and TV shows based on DC comic-book characters such as Batman and Wonder Woman.

- Waters (WAT) shares dropped as much as 10%, the most intraday since January 2023, after the life sciences company said it will merge with Becton Dickinson’s Biosciences & Diagnostic Solutions business in a Reverse Morris Trust transaction valued at about $17.5 billion. Jefferies says the deal adds “variables” to Waters’ “clean” story.  The stock is down 18% year-to-date.

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On this episode of Stock Movers:

- Alcoholic beverage stocks are tumbling on Monday after President Donald Trump declared a 30% tariff rate for Mexico and the European Union, key markets for drinksmakers. Constellation Brands (STZ), maker of Modelo and Corona, drops as much as 5.1%, the most intraday since early February. Citi analyst Filippo Falorni notes 100% of STZ’s beer portfolio is brewed in Mexico, while Jack Daniel’s maker BF/B exports its American whiskey products overseas, which could be at risk from retaliatory tariffs from the EU.

- Coinbase (COIN) rallied after Bitcoin reached an all-time high of 120,000. The Crypto exchange joined the S&P 500 a few months ago. The stock is benefitting from the US House of Representatives' "Crypto Week," with the prospect of a clear US regulatory framework bolstering confidence in the asset class among institutional investors.

- Rocket Lab (RKLB) reached a record high after Citi raised its price target on the stock. The increased price target comes as Citi shifts its valuation methodology to the company’s revenue potential in 2029 from 2027. Rocket Lab recently awarded a contract to Bollinger Shipyards to support the buildout of the ocean landing platform for its Neutron reusable rocket. Movement has also been seen in the stock over the past few weeks as Trump threatened to pull SpaceX contracts.

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On this episode of Stock Movers:
- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.
- Boeing (BA) shares edge higher after India's civil aviation authority ordered an inspection of cockpit fuel switches on Boeing Co. 737 and 787 aircraft operating in the country.
- Best Buy (BBY) shares fall after Piper Sandler downgraded the electronics retailer to neutral from overweight.

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On this episode of Stock Movers:
- Coinbase (COIN) shares rise. Cryptocurrency-exposed stocks rose after Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.
- Autodesk (ADSK) shares gain after the company said it is no longer pursuing an acquisition of PTC Inc., people familiar with the matter said. This would have ranked as one of the year’s largest deals.
- Kenvue (KVUE) shares are up after the company said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands.

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On this episode of Stock Movers:
- Coinbase (COIN) share are gaining after Argus Research Corp initiated coverage of the stock with a recommendation of buy and a $400 price target. The stock has 20 analyst buy, 16 hold and four sell ratings with an average price target of $315, according to data compiled by Bloomberg; shares are up 56% year-to-date.
- Kenvue (KVUE) is moving after it said Chief Executive Officer Thibaut Mongon will leave the company as it continues to revamp the maker of Tylenol, Neutrogena and Listerine brands. Board director Kirk Perry will take over as interim CEO, effective immediately, and the company has commenced a search for a new CEO. The company's board chair Larry Merlo said "The board’s strategic review is underway, and we are considering a broad range of potential alternatives, including ways to simplify the Company’s portfolio and how it operates"
- Tesla (TSLA) shares are moving amid continued tension between Elon Musk and President Trump. Other news items traders are watching include Chinese rival BYD planning to ramp up its expansion efforts in Saudi Arabia, building on momentum from Tesla Inc.’s launch in the country. Tesla will also stand trial over claims that the company is partly to blame for a fatal 2019 crash in Florida that occurred when the Autopilot system in a Model S allegedly failed to detect a parked SUV.
- Synopsis (SNPS) is moving this morning and at one point was the biggest upside mover in early trading. The company secured China's approval to buy out Ansys Inc. for $35 billion, according to Bloomberg. The buyout was already approved by European and US authorities, and Synopsys has now cleared one of the last major hurdles to a deal intended to shore up its market position.

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On this episode of Stock Movers:
- Diageo (DEO) shares are lower this morning due to the company's exposure to Mexico after President Trump announced tariffs on Mexico and the European Union. Also, Bloomberg Intelligence notes the company's ambition to boost its share of the alcohol beverage market to 6% by 2030 from 4.7% looks a tough ask right now, given fragile consumer confidence and uncertainty regarding tariffs and pricing. It comes as management has withdrawn its midterm 5-7% organic-sales target.
- Novo Nordisk (NVO) is moving this morning due to its exposure to the US and tariffs. The Trump administration also proposed to consider fixed-dose combination drugs for price cuts if they don’t have a “clinically meaningful difference” compared to their original drugs. The pharmaceutical industry is resisting the proposal, with companies like Merck and Bristol Myers Squibb raising questions about the government’s legal authority and statutory basis to implement it.
- Ford (F) and General Motors (GM) are under pressure this morning. Both are moving downwards. It comes with the US recently announcing sweeping new tariffs on imports from both Mexico and the EU.
- Synopsis (SNPS) is moving this morning and at one point was the biggest upside mover in early trading. The company secured China's approval to buy out Ansys Inc. for $35 billion, according to Bloomberg. The buyout was already approved by European and US authorities, and Synopsys has now cleared one of the last major hurdles to a deal intended to shore up its market position.

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On this episode of Stock Movers:
- Hermes declines as much as 3.3% following a downgrade to hold at Jefferies, which currently doesn’t see scope for the French luxury-goods maker to return to peak multiples. Analyst James Grzinic doesn’t model any significant acceleration in growth despite firmer US pricing and reduced availability constraints

- AstraZeneca’s experimental hypertension drug Baxdrostat reduced the blood pressure of patients who have an uncontrolled or treatment-resistant form of the condition, boosting the prospects of the medicine becoming a blockbuster. Astra has identified Baxdrostat as having potential sales of more than $5 billion a year, while Barclays estimates it could bring in about $2 billion a year when taken as a single drug. Shares of AstraZeneca rose as much as 2.1% in early trading in London.

- Brenntag shares fall as much as 5.6%, the most in almost two months, after the German chemicals firm cut its earnings guidance for the year in an unscheduled statement on Friday night. Morgan Stanley says underperformance is to be expected today, even if the profit warning wasn’t totally surprising.

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Here are the names you should know—for better or worse—specifically for the third quarter. Bloomberg Intelligence analysts have dug into their scenarios to identify the most interesting companies from a larger group of high-confidence Focus Ideas. Spanning sectors and regions, each scenario outlines a catalyst in the next few months that supports our case.   

For more on the list of companies, Paul Sweeney and Norah Mulinda speak with Tim Craighead, Director of Equity Research for Bloomberg Intelligence.

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CoreWeave Inc. is dropping $9 billion on the data-center operator Core Scientific Inc. in an effort to gain more direct control over the physical assets powering the artificial-intelligence boom.   

In buying Core Scientific in an all-stock deal, CoreWeave will inherit more than a gigawatt of data-center capacity across the US — much of which is already contracted out to serve its clients in training, deploying and using AI models. CoreWeave said Monday that controlling more of its supply chain will eliminate lease expenses, reduce costs including those associated with financing projects and “future-proof” its revenue growth.   

For more on the acquisition, Paul Sweeney and Lisa Mateo speak with Bloomberg Intelligence Senior Analyst Anurag Rana.

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