Stock Movers

On this episode of Stock Movers:
- Bootmaker Dr Martens and bracelet manufacturer Pandora are among stocks underperforming in Europe on Tuesday after US President Donald Trump outlined plans to impose tariffs on goods from key supplier countries including Indonesia, Thailand and Cambodia. Dr Martens is down 4.4%, with the firm’s production exposed to countries including Laos and Thailand, according to its US customer support site
- Shares of drinksmakers rise after reports saying the European Union is seeking an exemption from the US tariff for certain products. Remy Cointreau gains as much as 4.2%, Pernod Ricard +3.6%, Davide Campari-Milano +2.7%.
- Glencore shares rise as much as 2.1% after JPMorgan resumed its coverage with an overweight recommendation, citing value-accretive strategic optionality and a potential coal de-merger.

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On this edition of Stock Movers:
Lululemon (LU): Lululemon falls as President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1. It comes after the president said he has reached an agreement with Vietnam, a key country for the athletic wear manufacturer, late last week.
First Solar (FSLR): First Solar falls after Congress has set fast phaseouts for most of the Inflation Reduction Act’s signature clean energy tax credits. But while credits for sales of electric vehicles and home solar and storage face strict cutoffs by the end of this year, utility-scale wind and solar power projects can potentially hit a narrow six-to-12 month window that could buy them much more time — and subsidies — all the way into next decade. BloombergNEF expects to see developers rush to try to hit that window. JPMorgan analyst Mark Strouse says that while amount of tax incentives was reduced compared to the Inflation Reduction Act, the Big Beautiful Bill act "is materially better than feared" for clean energy.
Tractor Supply (TSCO): Tractor Supply Co. gains as much as 2.6%, rising to the highest intraday level since April, after adjusted sales observed by Bloomberg Second Measure rose 4.3% in the second fiscal quarter. It’s one of the few companies expecting sales to grow with tariff uncertainty based off pet food sales.

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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, Sonali Basak, Tim Stenovec and Emily Graffeo

On this episode of Stock Movers

- Tesla (TSLA) shares fell after Elon Musk announced he’s forming a new political party, digging deeper into a pursuit that’s been a drag on his most valuable business. The CEO announced over the weekend that he’ll take on Republicans and Democrats with the “America Party,” focusing on House and Senate seats for the next 12 months. After that, backing a candidate for president isn’t out of the question, Musk wrote on X. Tesla’s stock slid 7.4% as of 11 a.m. Monday in New York, wiping out $16.7 billion from his net worth, according to the Bloomberg Billionaires Index. If that drop were to hold, it would be the biggest decline for the shares since Musk’s initial falling out with Donald Trump over the president’s tax bill in early June. The stock has declined 28% this year as the CEO’s politicking has hurt Tesla’s standing with car buyers.

-Tractor Supply Co. (TSCO) gains as much as 2.6%, rising to the highest intraday level since April, after adjusted sales observed by Bloomberg Second Measure rose 4.3% in the second fiscal quarter. The data draws from a sample of credit and debit card purchases made by US consumers. Analysts currently estimate revenue for the quarter of $4.4 billion, up 3.6% YoY. Bloomberg Second Measure observed sales have achieved high correlation with the company’s reported revenue growth during the past five years.

- CoreWeave (CRWV) 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 (CORZ) 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.

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On this edition of Stock Movers:
- Tesla (TSLA) shares slid after Elon Musk announced he’s forming a new political party, digging deeper into a pursuit that’s been a drag on his most valuable business. The chief executive officer announced over the weekend that he’ll take on Republicans and Democrats with the “America Party,” focusing on House and Senate seats for the next 12 months. After that, backing a candidate for president isn’t out of the question, Musk wrote on X.
- CoreWeave (CRWV) shares were lower on word that it'll drop $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.
- Netflix (NFLX) shares were lower after Seaport Global Securities downgraded the streamer to neutral from buy. Analyst David Joyce writes, "We believe that plenty of the long-term opportunity set is factored into the shares at this price, and the company needs time to execute against the expectations in advertising, aggregating, launching experiences, and expanding share again."

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ON this episode of Stock Movers
- Coreweave (CRWV) shares are down after the company agreed to buy Core Scientific in an all-stock deal worth about $9 billion to expand its artificial intelligence data center capacity.
- Tesla (TSLA) shares fell after Elon Musk announced he's forming a new political party, the "America Party", which will focus on House and Senate seats for the next 12 months.
- Expedia (EXPE) shares are higher after Wells Fargo raised the firm's price target on Expedia to $178 from $149 and keeps an Equal Weight rating on the shares.

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On this episode of Stock Movers:
- Tesla (TSLA) shares are lower this morning after Elon Musk announced he's formed a new political party, the "America Party." The shares have already declined 22% this year as the CEO's politicking has hurt Tesla's standing with car buyers. Devoting resources and attention to a new political party runs counter to what Musk told Tesla investors during the company's last earnings, in April.
- CoreCivic (CXW) shares are rallying on the passage of President Trump's signature tax bill. Shares in Geo Group (GEO) are also rallying in the premarket, with the bill adding billions of dollars for immigrant detention centers. Geo Group and CoreCivic are the two largest detention contractors. On Friday, Trump signed a sweeping budget bill that includes $45 billion for new immigration jails—part of $150 billion in new funding to carry out his immigration and border-control agenda.
- Stellantis (STLA) is sliding this morning as Bank of America cuts the automaker to neutral from buy, with the broker expecting to see a “very weak” first-half report on July 29. While the US appears strong, Stellantis’s positioning in Europe looks bad, BofA says. Analyst Horst Schneider says that while Stellantis shares have fallen around 30% year to date and more than 50% since last summer’s capital markets day, it is “too early for ‘bottom-fishing,’”
- MGM Resorts International (MGM) is lower after Goldman Sachs initiates coverage of MGM Resorts International with a recommendation of sell due to a volatile Las Vegas market, while Caesars Entertainment gets a buy rating. MGM has high-sensitivity to a “choppy” Las Vegas market and is the most macro-sensitive among Goldman’s casino coverage, the bank writes in a note

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On this episode of Stock Movers:
- Tesla (TSLA) falls as much as 7.6% in premarket trading on concern that Elon Musk’s move to form a new political party will draw a backlash from President Donald Trump.
- CrowdStrike Holdings (CRWD) slides 1.8% in US premarket trading. Piper Sandler cut the software company to neutral from overweight after it surpassed the investment bank’s price target.
- OpenAI has agreed to rent a massive amount of computing power from Oracle (ORCL) data centers as part of its Stargate initiative, underscoring the intense requirements for cutting-edge artificial intelligence products.The AI company will rent additional capacity from Oracle totaling about 4.5 gigawatts of data center power in the US, according to people familiar with the work who asked not to be named discussing private information.

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On this episode of Stock Movers:

- European medical technology stocks have dropped after China hit back at the European Union’s restrictions on its medical device makers. Companies such as Philips, Elekta, and Siemens Healthineers are “minimally affected” because of their “strong local presence,” Jefferies analyst Julien Dormois writes in a note

- Shell shares fell as much as 3.2% after the oil giant’s second-quarter update pointed to a weaker performance than anticipated, which is set to hit earnings expectations, according to analysts. RBC noted that this is the first weak performance after years of positive updates.

- Stellantis fells as much as 3.3% as Bank of America cuts the automaker to neutral from buy, with the broker expecting to see a “very weak” first-half report on July 29. While the US appears strong, Stellantis’s positioning in Europe looks bad, BofA says.

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Health insurer Centene Corp. shocked investors this week when it withdrew its profit outlook on rising risks from Affordable Care Act plans.   

The company appears to have been badly caught off guard by the impact of US government actions. It’s an ominous sign for insurers, whose purpose is to price for risk but have lately been blindsided by it.   

Shares of Centene dropped more than 40% on Wednesday, the biggest one-day drop since its initial public offering in 2001. Other insurer stocks including Molina Healthcare Inc. and Oscar Health Inc. and Elevance Health Inc. also sank by double digits.   

For more on the fallout, Paul Sweeney and Norah Mulinda speak with Glen Losev, Bloomberg Intelligence Senior Healthcare Analyst.

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Tesla reported sales that slowed in the most recent quarter. But, shares climbed after the decline was less drastic than analysts feared.   

The company delivered 384,122 vehicles during the last three months, down 13% from a year earlier. While that leaves Tesla in a deep hole to dig out from to avoid another annual drop, some investors were braced for a more than 20% plunge.   

For more on the data, Paul Sweeney and Norah Mulinda speak with Pierre Ferragu, Head of Global Technology Infrastructure at New Street Research.

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