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, Alix Steel, Carol Massar and Tim Stenovec.

- FedEx (FDX) forecast a worse-than-expected profit for the current quarter in a sign that soft demand from consumers and businesses rattled by tariffs is unlikely to improve in the near term. Adjusted earnings in its fiscal first quarter will be $3.40 to $4 a share, the company said Tuesday in a statement. The range fell below the $4.03 average of analyst estimates compiled by Bloomberg. Although it typically provides a full-year forecast, FedEx said it would only share its outlook for the current quarter due to the “uncertain global demand environment.” The forecast reflects FedEx’s current economic outlook and assumes no further negative developments in the global trade, economic and geopolitical environment, the company said.

- Carnival (CCL) shares jumped after it raised its full-year profit outlook as cruise demand has shrugged off the volatile economic and geopolitical backdrop.Its stock surged by as much as 10%, while peers Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings and Viking Holdings Ltd. also rose by more than 4.3%.Earnings will be around $1.97 per share this year, the company said in a statement Tuesday morning, up from its previous view of $1.83 per share. Analysts had expected $1.85 per share. The cruise operator also hiked its targets in March after a strong start saw impressive booking growth with record pricing.

- Tesla (TSLA) shares were lower today after investors learned its self-driving taxis were having some issues. Tesla Robotaxis appeared to violate traffic laws during the company’s first day offering paid rides, with one customer capturing footage of a left turn gone wrong and others traveling in cars that exceeded posted speed limits. The US National Highway Traffic Safety Administration is aware of the incidents and is in contact with the company to gather additional information, the agency said in a statement to Bloomberg.

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On this edition of Stock Movers:
- Uber (UBER) shares rose after the ride-hailing company said in a press release that it will be partnering with Alphabet Inc’s Waymo to offer ride-sharing through autonomous vehicles in Atlanta. In addition, Lime, the Uber-backed electric bike startup, has hired investment banks to prepare for a US initial public offering, according to a report from Reuters.
- Galaxy Digital (GLXY) shares were higher after Rosenblatt Securities started coverage on the crypto company with a buy rating and $25 price target. Rosenblatt Securities analyst Chris Brendler writes that while the company “would likely underperform in the next ‘crypto winter’, GLXY has proven its resiliency in prior cycles,” and “we think a major downturn is unlikely near term and GLXY has arguably never been better positioned."
- McDonald's (MCD) and Krispy Kreme (DNUT) announced the two companies will end their partnership on July 2, citing challenges in achieving a sustainable business model. Krispy Kreme shares initially fell before recovering and McDonald's shares closes modestly higher.

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On this episode of Stock Movers:
- Tesla (TSLA) shares are higher this morning. Tesla’s CEO Elon Musk has tied the company’s future to driverless taxis and the tentative launch of the service in Austin yesterday is helping lift the company’s stock ahead of the open. It fell on Monday, even as the broader S&P 500 gained but rallied overnight. That’s pushing up the consumer discretionary sector
- Uber (UBER) is rising this morning on news it will begin offering driverless Waymo rides in Atlanta, making it the second market where the two companies are teaming up instead of competing against each other. Uber has struck more than a dozen AV partnerships globally, and the performance of the Atlanta tie-up with Waymo will be crucial in efforts to convince Wall Street that it can be the go-to commercial platform for driverless carmakers.
- Mastercard (MA) is up on news that it's deepening its partnership with Fiserv (FI) to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. Mastercard says people and businesses can use the new, programmable, blockchain-based token across more than 150 million merchants.
- Circle (CRCL) is moving to the downside after the stablecoin issuer was initiated at Compass Point Research & Trading with a recommendation of neutral as competition is expected to increase after US stablecoin legislation was passed. Analyst Ed Engel sees Circle’s USDC stablecoin having long-term advantages from tech and liquidity but sees a growing threat of new entrants and declining gross margins

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On this episode of Stock Movers:
- ExxonMobil (XOM) is lower this morning along with other major oil giants like Chevron (CVX) as the US, Israel, and Iran work toward a truce. President Trump called on Israel to stop dropping bombs on Iran, calling it a “major violation” of a fragile ceasefire between the two countries he announced just hours beforehand. Moments earlier, Trump told reporters he believed both Israel and Iran had violated the ceasefire but said he believed the fragile truce which was already being tested would hold.
- Newmont Corp. (NEM) is following oil lower as commodities drop on news of a truce. “I think they both violated it,” Trump said as he departed the White House to attend the NATO summit at The Hague. But when asked if the ceasefire was breaking, Trump responded “I don’t think so.”
- Lockheed Martin (LMT) is down today following commodity stocks lower. The fragile truce followed an extraordinary night in which Tehran retaliated against a US attack by launching missiles at an American air base in Qatar, with no casualties reported.
- Fiserv (FI) shares are higher this morning after Mastercard deepened its partnership with Fiserv to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. Mastercard says people and businesses can use the new, programmable, blockchain-based token across more than 150 million merchants

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On this episode of Stock Movers:
- Stoxx 600 Energy index is down 2.9%, the worst-performing sector in Europe today
- Several Persian Gulf states, including Qatar and the United Arab Emirates, have reopened their airspace and resumed operations at some of the world’s busiest airports
- Defense suppliers are sliding again after significant declines on Monday

See omnystudio.com/listener for privacy information.

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, Alix Steel, Carol Massar and Tim Stenovec.

- Tesla (TSLA) shares climbed after the automaker rolled out its long-promised driverless taxi service to a handful of riders, a modest debut for what Elon Musk sees as a transformative new business line. The first robotaxi trips were limited to a narrow portion of Tesla’s hometown of Austin on Sunday, with an employee sitting in the front passenger seat of each vehicle to monitor for safety. The carmaker hand-picked a friendly group of retail investors and social-media influencers to serve as initial riders and live-stream their trips.

- Circle (CRCL) shares extended gains for a third consecutive session after the Senate passed stablecoin legislation last week.

- Hims & Hers (HIMS) shares dropped following news that Novo Nordisk was scrapping a partnership with the upstart telehealth platform after less than two months. Hims, a telehealth platform, wasn’t stepping back enough from its practice of mass marketing off-brand imitations of the weight-loss medicine, Novo executives said.“The big issue with Hims is that we had an agreement that the mass compounding would stop and unfortunately it didn’t stop,” said Ludovic Helfgott, executive vice president of product and portfolio strategy at Novo, in an interview. “That’s why we ended the partnership.” In a post on X, Hims Chief Executive Officer Andrew Dudum called Novo executive comments “misleading.” He said Novo had been pressuring Hims to “steer patients to Wegovy regardless of whether it was clinically best for patients.”

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On this edition of Stock Movers:

- Norwegian Cruise Line (NCLH) shares fell following worries on the ongoing conflict in the Middle East and how it might impact oil prices. Carnival (CCL) is set to report earnings tomorrow, which could give a read on how travelers are feeling.

- Constellation Energy Corporation (CEG) shares rose on word that New York state is pushing to build a nuclear power plant to meet growing demand for clean energy, the first major US reactor project in more than a decade. Governor Kathy Hochul is directing the New York Power Authority to develop and build at least 1 gigawatt of nuclear capacity, enough to power a million homes. Multiple communities upstate are already lining up to host the project, she said Monday during a speech at the Niagara Falls hydroelectric plant.

- Estee Lauder (EL) shares gained after Deutsche Bank upgraded the cosmetics company to buy from hold due to increasing evidence that the firm is diversifying beyond China for future growth. Deutsche Bank analyst Stephen Powers says Estee Lauder’s investment requirements have been mostly fulfilled to the point where top-line growth can be better leveraged to the benefit of margin and profit recovery going forward

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On this episode of Stock Movers:
- Quantum Computing (QUBT) an innovative, integrated photonics and quantum optics technology company, today announced that it has entered into securities purchase agreements with institutional investors for the purchase and sale of 14,035,089 shares of common stock in a private placement at a purchase price of $14.25 per share.
- Fiserv (FI) shares rose as much as 4.5% after the financial-technology company said it plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the company’s press release
- Exelixis (EXEL) shares soars as much as 23% to the highest level since July 2000, after the maker of cancer drugs said topline data for its metastatic colorectal cancer treatment had met one of the dual primary endpoints in the intent-to-treat population.

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On this episode of Stock Movers:
- Tesla (TSLA) shares rise after roll out its long-promised driverless taxi service to a handful of riders Sunday, a modest debut for what Elon Musk sees as a transformative new business line.

-Northern Trust (NTRS) shares rise after Bank of New York Mellon approached Northern Trust last week to express interest in a possible merger

-Estee Lauder (EL) shares rise after Deutsche Bank upgrades the cosmetics company to buy from hold

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On this episode of Stock Movers:
- Northern Trust (NTRS) shares are higher this morning on a WSJ report that Bank of New York Mellon approached it to express interest in a possible merger, which would be a megadeal for the US financial services industry. A tie-up would bring together two of the largest custodian banks in the world, with a combined entity's scale that would help it compete with global asset managers like BlackRock Inc. and Vanguard. BNY has been in the midst of an overhaul aimed at cutting costs and streamlining the institution, and a merger with Northern Trust could help cut Northern Trust's expenses by 20% to 30%.
- American Airlines (AAL) is today along with United Airlines (UAL) amid uncertainty surrounding the geopolitical conflict in the Middle East. Major global airlines have extended flight cancellations to the Persian Gulf, disrupting air traffic to critical hubs such as Dubai, after the US struck nuclear sites in Iran and Tehran vowed to retaliate. The disruptions have affected major travel hubs, with potential risks to global airline traffic, and have led to precautions such as evacuations and route changes by some companies and airlines.
- ExxonMobil (XOM) is moving to the upside this morning amid rising oil prices from the latest developments in the Israel-Iran conflict. The conflict has raised concerns about oil prices and inflation, with oil rising by nearly 6% and US stock futures declining, and has also led to warnings about the risk to global energy supplies and the closure of the Strait of Hormuz.
- Hims & Hers (HIMS) shares are sliding after Novo Nordisk ended its partnership with the telehealth platform that has been selling compounded obesity drugs, newswire MarketWire reports, citing a statement from the Danish company.
- Fiserv Inc. (FI) is also in the green this morning after the Wall Street Journal reported the financial-technology company’s plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the Journal.

See omnystudio.com/listener for privacy information.