Stock Movers

On this episode of Stock Movers:

- Circle Internet Group (CRCL) shares gained this morning after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. The stablecoin vote is the industry’s most tangible return yet on the hundreds of millions of dollars it poured into electing a crypto-friendly Congress. Circle is a stablecoin issuer.

- Peloton (PTON) shares are rebounding after yesterday's tumble. Fitness stocks fell yesterday after a Senate bill omitted the House’s proposed provisions allowing for the use of Health Savings Accounts (HSAs) for certain fitness allowances. Yesterday, Peloton shares slump 11%, Planet Fitness drops 2.2%, and Xponential is down 5.4%. The House’s version of the bill “allows for gym memberships and other physical fitness activities to be paid for with HSAs, up to a limit of $500 per year for individuals and $1,000 per year for families,” KeyBanc analyst Scott Schoenhaus writes in a note.

- Amazon (AMZN) is moving slightly on news that CEO Andy Jassy expects the company's workforce to decline in the next few years as it uses artificial intelligence to handle more tasks. Jassy says the company will need fewer people doing some jobs and more people doing other types of jobs, with AI expected to bring efficiency gains and reduce the total corporate workforce.

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On this episode of Stock Movers:
- Airbus shares rise as much as 2.3% after the planemaker said it was extending the upper range of its dividend payout ratio to 30-50% from the current level of 30-40%.
- Gerresheimer said KPS Capital Partners is still in discussions with Warburg Pincus. Talks on a potential takeover “are open-ended,” Gerresheimer said
- UBS shares fell 1.7%, the worst performer in the Stoxx 600 Financial Services Index, after Morgan Stanley cut its recommendation on the Swiss lender to underweight from equalweight, saying that new capital demands imposed by Switzerland will impact shareholder returns.

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On this episode of Stock Movers:

- JetBlue (JBLU) plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo. The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday. 
JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer.
“We’re hopeful demand and bookings will rebound, but even a recovery won’t fully offset the ground we’ve lost this year and our path back to profitability will take longer than we’d hoped,” Geraghty said. “That means we’re still relying on borrowed cash to keep the airline running.”

- Humana (HUM) shares were up as much as 4%, the most intraday in a month, as analysts are positive on the health insurer following its investor day event where it gave updates regarding expectations for earnings growth through 2028. KeyBanc Capital Markets says the investor day provided “a clear picture” of the earnings power of the business and how the company plans to unlock margins by 2028.

- Solar stocks, like Sunrun (RUN), SolarEdge (SEDG) and Enphase (ENPH) fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick. The new version of the bill released by the Senate Finance Committee would end incentives for wind and solar in 2028. Tax breaks for other sources of power, such as nuclear, hydropower and geothermal, would be allowed to remain until being phased out in 2036, according to a summary of the legislation.

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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, Alix Steel, Carol Massar and Tim Stenovec.

- Jabil (JBL) shares are up 2.9% in premarket trading, after the manufacturing services company reported third-quarter results that beat expectations and raised its full-year forecast.
JPMorgan writes that the report shows “robust revenue trends,” which “was primarily driven by the Intelligent Infrastructure segment, which we believe is led by share gains with the primary customer in Cloud compute.” The report “also highlights stable or positive trends across cyclical end markets, with Regulated Industries and Connected Living & Digital Commerce tracking in line with better than prior guide, and will be a pleasant surprise for investors relative to the general pessimism relative to the macro.”

- Fluence Energy (FLNC) shares climbed as much as 19%, the most intraday in over a month, after the Senate Finance Committee released its version of a budget reconciliation bill that JPMorgan analysts believe is positive for energy storage firms.
“Energy storage is exempt from the phase-down, meaning that full credits would remain in place as written in current law,” JPMorgan analyst Mark Strouse writes. The tax bill did phase down tax credits for solars, which is weighing on the shares on Tuesday.

- Verve Therapeutics (VERV) shares soared 82% in premarket trading after the Financial Times reported that Eli Lilly is in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Shares in Eli Lilly edge lower, falling 1.1%. The deal could be announced as soon as this week, FT reported.
BMO Capital Markets analyst Evan David Seigerman is cautious on potential acquisition of Verve by Lilly, as he would “question the ultimate commercial viability of gene editing for primary care conditions.” Verve shares closed at $6.3 in New York on Monday; up 11% year-to-date.

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On this edition of Stock Movers:

- JetBlue (JBLU) plans to hasten cost cuts by eliminating some flights, ending service to a number of cities and restructuring its leadership ranks as economic uncertainty feeds weaker-than-expected demand for travel, the company said in an internal memo. The carrier will eliminate underperforming routes and plans to announce network changes in coming weeks, according to the memo from Chief Executive Officer Joanna Geraghty seen by Bloomberg on Tuesday.
JetBlue implemented budget reductions at support centers and is assessing hiring, spending on business partners and vendors and will combine or restructure some leadership roles. The carrier has halted cosmetic refreshes of four out of its 10 legacy Airbus A320 aircraft used for flights and will park the planes at the end of summer. Shares initially rallied before paring gains.

- Solar stocks, like Sunrun (RUN), SolarEdge (SEDG) and Enphase (ENPH) fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected, dashing hopes that major cuts passed by the House wouldn’t stick. The new version of the bill released by the Senate Finance Committee would end incentives for wind and solar in 2028. Tax breaks for other sources of power, such as nuclear, hydropower and geothermal, would be allowed to remain until being phased out in 2036, according to a summary of the legislation.

- Surgery Partners (SGRY) shares tumbled as much as 14%, the most intraday since November 2024, after the company turned down a buyout proposal from Bain Capital, with its independent committee concluding that its long-term value as a standalone public company outweighs Bain’s offer. The company also reaffirmed its revenue forecast for the full year.

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On this episode of Stock Movers:
- JetBlue (JBLU) shares are lower on plans to accelerate its cost reductions by eliminating some flights, pausing retrofits and parking some jets due to weaker-than-expected demand for travel. This is according to an internal memo, which CNBC reported on earlier.
- Lennar (LEN) shares rise after a miss on the homebuilder’s new orders outlook was tempered by better-than-expected gross margins, which RBC Capital Markets said should reassure investors.
- Surgery Partners (SGRY) shares slide after the company turned down a buyout proposal from Bain Capital, with its independent committee concluding that its long-term value as a standalone public company outweighs Bain’s offer.

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On this episode of Stock Movers:
- Enphase (ENPH) shares drop in the biggest one-day drop since September 2016. Shares of US solar companies fell sharply after Senate Republicans released a bill that would end clean energy tax credits earlier than expected.
- T-Mobile (TMUS) shares fall after Softbank sold T-Mobile stake for $4.8 billion. It's the biggest US share sale since TD Bank sold a $13.1 billion stake in Charles Schwab in February. The sale will help fund Softbank's plans to ramp up investments in AI, including plans to put down as much as $30 billion in OpenAI.
- JetBlue(JBLU) shares are lower on plans to accelerate its cost reductions by eliminating some flights, pausing retrofits and parking some jets due to weaker-than-expected demand for travel. This is according to an internal memo, which CNBC reported on earlier.

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On this episode of Stock Movers:
- Lennar (LEN) is edging higher after a miss on the homebuilder’s new orders outlook was tempered by better-than-expected gross margins, which RBC Capital Markets said should reassure investors. Analysts including Mike Dahl say Lennar’s results came in better than feared on gross margin percentage with orders modestly missing, while the guide for a flat quarter-on-quarter gross margin percentage also surprised on the upside. Lennar’s second-quarter adjusted earning per share missed consensus estimates with higher selling, general, and administrative expenses and lower average selling price, but gross margins in-line, write analysts including Matthew Bouley of Barclays.
- Sunrun (RUN) shares are sinking in the premarket. It comes as KeyBanc Capital Markets analyst Sophie Karp cut the recommendation on Sunrun Inc. to underweight from sector weight. Investors who followed Karp's recommendation received a 0% return in the past year, compared with a negative 27% return on the shares.
- Verve Therapeutics (VERV) is soaring following a Financial Times report that Eli Lilly is reportedly in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Eli Lilly (LLY) is lower on M&A news. Eli Lilly would pay almost $1 billion upfront and another $300 million based on Verve reaching clinical milestones, according to FT.
- T-Mobile (TMUS) is sliding this morning after a report that SoftBank raised around $4.8 billion through a sale of 21.5 million T-Mobile US Inc. shares at $224 each. The deal represents a 3% discount to T-Mobile US's Monday closing price of $230.99 per share and is the biggest US share sale since February.

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On this episode of Stock Movers:
- Lockheed Martin (LTM) is leading defense stocks higher this morning amid growing tensions in the Middle East. The conflict between Israel and Iran continues, with both sides exchanging strikes, and Trump has not ruled out further talks or sending a high-level official to meet with Iran.

- Conoco Phillips (COP) is higher this morning along with other energy stocks amid the Israel-Iran conflict. The situation remains volatile, with global markets still fearful of the war spreading to other countries in the oil- and gas-producing region, and the US deploying an aircraft carrier strike group to the Middle East ahead of schedule. The risk of oil-driven price pressures adds to the uncertainty facing central banks, with Federal Reserve officials signaling a prolonged pause in interest rates and investors watching for clues about what could eventually prompt a policy move.

- Eli Lilly (LLY) is lower on M&A news that the company is looking to buy Verve Therapeutics, according to a report from the Financial Times. Eli Lilly is reportedly in advanced talks to buy the gene-editing startup for as much as $1.3 billion. Eli Lilly would pay almost $1 billion upfront and another $300 million based on Verve reaching clinical milestones, according to FT.

- T-Mobile (TMUS) is sliding this morning after a report that SoftBank raised around $4.8 billion through a sale of 21.5 million T-Mobile US Inc. shares at $224 each. The deal represents a 3% discount to T-Mobile US's Monday closing price of $230.99 per share and is the biggest US share sale since February.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:

- Banco Sabadell is considering a sale of its UK unit TSB, the latest twist in a year-long effort to defend itself against a takeover by rival BBVA

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- Clean energy stocks including Vestas and Orsted fall in Europe after US Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, and make only modest changes to most other incentives.

- An Apollo Global Management Inc. investment vehicle sold its entire 21.3% stake in Italian betting firm Lottomatica Group Spa on Monday, leading a €2.3 billion ($2.7 billion) wave of European block trades as investors capitalized on the market’s bounce.

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