Stock Movers

Restaurant valuations are diverging between market-share winners and losers, with casual dining outpacing quick service. Fast-casual chains like Shake Shack and Cava can take market share this year but already trade at 100x and 124x 2025 EPS, respectively.   

For analysis on current restaurant valuations, Alix Steel and Paul Sweeney speak with Bloomberg Intelligence Senior Restaurant Analyst Michael Halen.

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On this episode of Stock Movers:

- LVMH Hennessy is one of the three big cognac makers — including Remy Cointreau SA and Pernod Ricard SA - that have reached price undertaking agreement with China after it imposed anti-dumping duties on drinks including European brandy for five years.

- Rheinmetall’s up after its South African subsidiary Rheinmetall Denel Munition secured an artillery ammunition order worth several hundred million Euros from an unnamed European NATO country. 

- CVC Capital has been upgraded by JP Morgan to overweight from neutral as resilient exit volumes are supporting an improved outlook for European private markets managers.

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On this episode of Stock Movers:
Synopsys Jumps, Meta's strong labor productivity, Datadog will enter S&P 500

• The US lifted export license requirements for chip design software sales in China, clearing the way for the companies to resume services. Bloomberg Intelligence analysts Niraj Patel and Maria Beltran write that both Synopsys and Cadence are “likely to resume electronic design automation (EDA) sales to China after Siemens said it had been informed of the removal of some US export restrictions." Chinese customers represent 14% of sales for Synopsys

• Meta raised to hold from underperform at Needham, with analysts citing “channel checks driving upside to our estimates” and the company’s “strong labor productivity metrics." Labor productivity is driven by a model that is “globally scaled, doesn’t pay for content, is software only, ‘free-rides’ on mobile devices and has closed loop attribution for advertisers”

• Cloud monitoring and analytics company Datadog (DD)G) had its highest intraday level since February, after the software solutions company was added to the S&P 500 index effective prior to the opening of trading on July 9, replacing Juniper Networks. Scotiabank analyst says entry into S&P 50 makes the stock a "must-own" and OpenAI’s spend is a “massive net positive” and affirms proves Datadog’s differentiation in monitoring the most modern environments

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On this episode of Stock Movers:
- Software company Datadog (DDOG) will be added to the S&P 500 index next week, replacing Juniper Networks Inc. after its recent acquisition by Hewlett Packard Enterprise Co.
- FedEx (FDX) is double-upgraded to outperform at BNP Paribas Exane, with the broker saying the stock is “arguably oversold,” expecting the firm’s relative operational outperformance vs. rival UPS to continue. UPS is meanwhile upgraded to neutral from underperform.
- Synopsys (SNPS) and Cadence Design both gain 6.1% in premarket trading after the US lifted export license requirements for chip design software sales in China, clearing the way for the companies to resume services in the world’s second-biggest economy.

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On this episode of Stock Movers:
- Siemens shares rise as much as 3% after the company said the US has lifted export license requirements for chip design software sales in China, allowing it to resume sales in the country. Citi said this is a “clear positive” for the stock.
- Watches of Switzerland shares drop as much as 10%, the most in three months, after the company warned its margin could contract this year, which analysts at Shore said is disappointing following the recovery in profitability seen in FY25. That is overshadowing a solid set of FY25 results.
- UK housebuilders are under pressure on Wednesday, with RBC Capital Markets pointing to concerns that a widening fiscal hole facing the government could lead to a potential rise in taxes and cause a slowdown in the housing market. The drop comes hot on the heels of data out Tuesday showing house prices fell the most in more than two years in June.

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On this edition of Stock Movers:

- Health insurer Centene Corp. (CNC) stock plunged as they shocked investors Tuesday when it withdrew its profit outlook on precipitously rising risks from Affordable Care Act plans, sending shares plummeting the most on record. 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.

- Tesla (TSLA) shares rally after after the carmaker posted a less drastic decline in vehicle sales than the most pessimistic 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. “We’re at the bottom here,” Gene Munster, managing partner of Deepwater Asset Management, said on Bloomberg Television.

- Coinbase (COIN) and other crypto-linked stocks rose today. Specifically, Coinbase users in Australia can now select PayPal as a payment option to buy and sell cryptocurrencies. Last week, shares hit first record since 2021 after the US Senate passed legislation for stablecoins pegged to the dollar and in May, the company was added to the S&P 500.

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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 Matt Miller.

- Tesla (TSLA) shares rallied today after the carmaker posted a less drastic decline in vehicle sales than the most pessimistic 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. The sales figures run counter to Elon Musk’s claim in mid-May that Tesla’s car business had recovered from an early-year slump driven in part by blowback over his work in the Trump administration. Sales could be further challenged toward the end of this year if Congress passes the president’s multitrillion-dollar spending bill that would eliminate tax credits for EV purchases.

- Centene (CNC) shares plunged after the health insurer shocked investors by withdrawing its profit outlook on precipitously rising risks from Affordable Care Act plans, sending shares plummeting the most on record. 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% in New York 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. sank by double digits.

- Intel (INTC) shares fell as much as 6% during trading following a report that CEO Lip-Bu Tan is exploring a potential strategy shift in its foundry business that would entail no longer marketing certain chipmaking technology to external customers.

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On this edition of Stock Movers:

- Tesla (TSLA) shares jumped after the carmaker posted a less drastic decline in vehicle sales than the most pessimistic 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. “We’re at the bottom here,” Gene Munster, managing partner of Deepwater Asset Management, said on Bloomberg Television.

- Nike (NKE), Lululemon (LULU), GAP (GAP) and other US retail shares are up after President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports. A 20% tariff will be placed on Vietnamese exports to the US, with a 40% levy on any goods deemed to be transshipped through the country, Trump said in a social-media post on Wednesday. Trump said that Vietnam had agreed to drop all levies on US imports. 

- Health insurer Centene (CNC) shares are down as they shocked investors Tuesday when it withdrew its profit outlook on precipitously rising risks from Affordable Care Act plans, sending shares plummeting the most on record. 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.

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On this episode of Stock Movers:

Nike (TICKER NKE; +1.5%) - Shares jumped after US President Donald Trump said he reached a trade deal with Vietnam on Wednesday, though quickly reversed after the tariff was set at 20% with 40% tariff on “transshipping” as part of a trade deal- Vietnam is a critical production hub for companies such as Nike Inc., Gap Inc. and Lululemon Athletica Inc., which count on the southeast Asian nation’s factories to manufacture goods ranging from T-shirts to jeans to basketball shoes - Trump imposed a 46% tariff on Vietnam as part of a global campaign to reset US trade in April, which sent the shares of shoe and apparel companies tumbling

Amcor (TICKER AMCR; +1.2%)- initiated with a buy recommendation at Jefferies, with the broker seeing a compelling risk-reward ratio and good earnings momentum for the packaging solutions group following its combination with Berry Global- Places price target at $12; shares closed Tuesday at $9.58

Molina Health (TICKER MOH; -20%)- Side-swiped in the Centene declines; shares are down 11% in the past five days and fell 12% in the past 30 days.- Trading volume 16% above the 20-day average at this time of day - Molina trades at 11 times its estimated earnings per share for the coming yea

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