Stock Movers

On this episode of Stock Movers:
- Charter Communications (CHTR) is higher this morning after agreeing to merge with Cox Communications in a deal that values Cox at an enterprise value of about $34.5 billion. The deal comprised of $21.9 billion of equity and $12.6 billion of net debt and other obligations
- Vistra (VST) is also up this morning on an M&A deal. It agreed to buy seven natural gas-fired power plants for $1.9 billion to feed the growing demand for electricity from artificial intelligence. The acquisition is part of a trend of power generators buying gas-fired plants to meet the anticipated demand from energy-intensive data centers running AI applications.
- Applied Materials (AMAT) is lower this morning after forecasting sales of about $7.2 billion in the fiscal third quarter, with a profit of approximately $2.35 a share. The company is adjusting to restrictions on sales to China, one of its biggest markets, and the impact of US tariffs, which is making it harder to project future revenue. Despite uncertainty, Applied Materials' management believes the industry is in a historic period of expansion, driven by the rapid spread of semiconductors and the AI boom.

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On this episode of Stock Movers:

- Foot Locker (FL) shares surged as much as 85%, the biggest intraday gain on record, after Dick’s Sporting Goods (DKS) agreed to buy the sneaker retailer for $2.4 billion. Citi said positives of the tie up seemed clear, but noted there may be some regulatory hurdles. Meanwhile, Baird viewed the acquisition as a “major endorsement” of Nike’s turnaround.

- CoreWeave (CRWV) shares slipped in after hours trading. The company, however, has secured a deal worth as much as $4 billion to provide additional cloud computing capacity to artificial intelligence leader OpenAI, expanding a tie-up between the two firms. The data center builder said in a filing Thursday that OpenAI will pay the sum through 2029. CoreWeave had disclosed a $4 billion deal on its earnings call late Wednesday but did not name the party, beyond describing it as an enterprise AI company.

- Steris (STE) shares are up after the provider of infection prevention products reported life sciences revenue for the fourth quarter that beat the average analyst estimate.“FY25 operating margin and earnings finish on a high note,” Piper Sandler analysts including Jason Bednar wrote in a note. Solid, balanced revenue performance, margin and EPS upside is impressive and FY26 guidance bracketing Street is a nice starting point considering tariff absorption; shares should trade higher.

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• Foot Locker (FL) shares closed higher as investors celebrate Dick's Sports Goods reaching a deal to acquire it. Dick’s will pay $24 a share for Foot Locker, reflecting a premium of 86.5% on the closing share price on Wednesday, before news of the deal emerged. Shareholders in Foot Locker can also elect to receive Dick’s shares instead of cash. 
•  Meta (META) shares declined on a report that the social networking company is delaying a flagship artificial intelligence model, sparking concerns about its AI push.Meta engineers are having trouble improving the capabilities of the software — a large language model known as “Behemoth” — the Wall Street Journal reported on Thursday. Behemoth’s release, already delayed until June, has now been postponed until fall or later, the newspaper said.
• Coinbase (COIN) shares dropped on series of headlines that have investors concerned. The New York Times reported the SEC is probing whether the crypto exchange misstated user numbers. We also learned that hackers had near-constant access to some of Coinbase’s most valuable customer data since January, according to a person familiar with the incident who asked not to be named discussing company matters. The largest US crypto exchange disclosed earlier on Thursday that hackers bribed customer representatives to steal the data and then demanded a $20 million ransom to delete it. Coinbase began noticing unusual activity from some of these representatives in January, the company confirmed in an interview with Bloomberg News.

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On this episode of Stock Movers:

- Dividend Paying Stocks featuring American Water Works (AWK), Procter & Gamble (P&G), and Coca-Cola (KO) are outperforming the S&P 500. This comes on the back of the manufacturing and the retail sales data released earlier today. It is also boosting the bets that there could potentially be two rate cuts from the Federal Reserve based on the swaps markets right now.

- Walmart (WMT) shares are falling. While the retail company delivered another quarter of solid sales and earnings growth, they cautioned that tariffs and increasing economic turbulence means even the world’s largest retailer expects to raise prices. Sales rose 4.5% at US Walmart stores open at least a year for the quarter ended April 30, while adjusted earnings were 61 cents a share. The results are better than what Wall Street analysts were expecting, suggesting a decision to lower prices to win market share is paying off for the chain.

- Deere & Co. (DE) shares hit a record high after earnings beat the highest of analyst estimates, even as the world’s largest farm machinery maker trimmed its profit outlook for the year due to the impact of Donald Trump’s tariffs. Investors are betting the worst is over for Deere as farm markets stabilize and frictions between China and the US over tariffs seem to be abating, paving the way for a recovery in sales next year.

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On this episode of Stock Movers:
- Steris stocks rise after 4Q life sciences revenue beat average estimates. Piper Sandler analysts noted operating margin and earnings finish on a high note, the fact that its FY guidance for 2026 is bracketing Street estimates is a nice starting point considering it needed to absorb tariff impacts.
Deere shares surge to a record after earnings beat the highest of analyst estimates. It trimmed profit outlook for the year. The farm economy has been challenged as tractor sales have been trending lower since a 2023 record as falling crop prices eroded farm income. Most observers expect the market to bottom out this year, with a rebound seen for 2026.
T-Mobile shares rise after Deutsche Telekom first quarter profit topped estimates, showing resilience in its home market of Germany. The company raised its Ebitdaal forecast for the year to around €45 billion this year That reflects a similar move by T-Mobile in the US when it reported 1Q results last month .

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On this episode of Stock Movers:
- UnitedHealth shares sink after a report that the insurer was under criminal investigation for possible Medicare fraud.On Tuesday, it sank more than 17% Tuesday when the company abruptly replaced its chief executive officer and suspended 2025 guidance.
- Cisco shares rise after the company gave a revenue forecast for the quarter that looks solid and slightly exceeded analyst estimates.It got a boost from corporations and cloud computing providers expanding their networks in part to handle a surge in artificial intelligence software.

- Walmart shares fall after the company reported another quarter of solid sales and earnings growth, but cautioned on tariffs and increasing economic turbulence, and that it expects to raise prices.

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On this episode of Stock Movers:
- Walmart (WMT) shares are up this morning after delivering solid sales and earnings growth, but cautioned that tariffs and economic turbulence will lead to price increases starting this month. The company is bracing for a bigger hit from the trade war and overall economic malaise in the coming months, citing a "lack of clarity" in the current operating environment.
- Foot Locker (FL) rose over 80% this morning after Dick's Sporting Goods reached a $2.4 billion deal to acquire Foot Locker, with Dick's paying $24 a share for Foot Locker, an 86.5% premium on Foot Locker's closing share price. The acquisition combines two retailers affected by President Trump's tariff wars, with Dick's expecting to operate Foot Locker as a standalone business unit and maintain the Foot Locker brand. Dick's Sporting Goods sank on the news.
- UnitedHealth Group (UNH) shares are lower this morning after the Wall Street Journal reported the company is under criminal investigation for possible Medicare fraud. The Justice Department has been probing the company's Medicare Advantage business since at least last summer, but the nature of the potential criminal allegations is unclear. UnitedHealth has denied being notified about the investigation and stands by the integrity of its Medicare Advantage program.
- Cisco (CSCO) is higher this morning after the networking equipment provider boosted its full-year revenue guidance and beat the average analyst estimate. Separately, the company announced some executive changes, including the departure of Scott Herren as CFO.

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On this episode of Stock Movers:
- Footlocker (FL) rose over 80% this morning after Dick's Sporting Goods reached a $2.4 billion deal to acquire Foot Locker, with Dick's paying $24 a share for Foot Locker, an 86.5% premium on Foot Locker's closing share price. The acquisition combines two retailers affected by President Trump's tariff wars, with Dick's expecting to operate Foot Locker as a standalone business unit and maintain the Foot Locker brand. Dick's Sporting Goods sank on the news.
- Boeing (BA) shares are up in premarket trading after landing its biggest-ever aircraft order, with Qatar Airways agreeing to buy up to 210 widebody aircraft, including 787 Dreamliners and 777X models, in a deal worth $96 billion. The deal is a major win for Boeing, Qatar Airways, and President Trump, who witnessed the signing ceremony and touted the pact as a record that would help secure jobs at home.
- Cisco (CSCO) is higher this morning after the networking equipment provider boosted its full-year revenue guidance and beat the average analyst estimate. Separately, the company announced some executive changes, including the departure of Scott Herren as CFO.
- UnitedHealth Group (UNH) shares are lower this morning after the Wall Street Journal reported the company is under criminal investigation for possible Medicare fraud. The Justice Department has been probing the company's Medicare Advantage business since at least last summer, but the nature of the potential criminal allegations is unclear. UnitedHealth has denied being notified about the investigation and stands by the integrity of its Medicare Advantage program.

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On this episode of Stock Movers:
- Ubisoft shares sink as much as 23% after the video-game maker gave disappointing guidance that called for negative free cash flow, with a return to profitability seen as at least another year away.
- Siemens's shares fell after orders for its electrification products declined from elevated levels, signaling a slowdown in demand driven by the boom in data centers.
- Terminal users are searching for news about JD Sports after it was reported Dick’s Sporting Goods is in advanced talks to buy Foot Locker, whose stock had dropped 41% this year amid the back-and-forth over tariffs.

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On this episode of Stock Movers:

- Super Micro Computer (SMCI) shares extended their gains after Saudi Arabia-based data center company DataVolt signed a multi-year partnership agreement with the beleaguered US server company. The stock has rallied about 43% this week, on track for the best week since November. The agreement should “fast-track delivery of ultra-dense GPU platforms and rack systems for DataVolt’s hyperscale AI campuses in the Kingdom of Saudi Arabia and the US,” the company said in a statement on Tuesday.

- CoreWeave (CRWV) shares are up as their expectation-topping results in its first earnings report indicated artificial intelligence investment showed no signs of waning to start the year. The shares surged as much as 8% in post-market trading.“Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications,” Chief Executive Officer Michael Intrator said in the statement. “We are scaling as fast as possible to capture that demand.”

- Cisco (CSCO) shares rose in extended trading as the company gave a solid forecast for revenue in the current quarter, a sign the largest seller of networking gear is benefiting from demand for systems using AI technology. Sales in the period ending in July will be $14.5 billion to $14.7 billion, Cisco said in a statement Wednesday. Analysts polled by Bloomberg had predicted $14.5 billion on average. Profit, excluding some items will be as high as 98 cents a share, compared with an average analyst estimate of 95 cents.

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