Stock Movers

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.

• EToro (ETOR) shares rose 29% in its first session as a public company, after the trading and investment platform and some of its backers raised nearly $620 million in an upsized IPO.Shares of the Israel-based firm closed at $67 on Wednesday, above the initial public offering price of $52 apiece. The trading gives EToro a market value of more than $5.5 billion, based on the outstanding shares listed in an earlier filing. EToro’s listing cements a rebound in US IPOs, as companies that put first-time share sale plans on hold amid tariff-related stock volatility resume their preparations. The company was among those delaying IPO plans after President Donald Trump’s April 2 tariff announcements. 
•  Super Micro (SMCI) shares rose as much as 20% in Wednesday's trade, extending Tuesday’s 16% rally, 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.
• American Eagle Outfitters (AEO) pulled its guidance for the full year following a first quarter that was marred by discounting and a write-down of inventory, sending the stock down in New York trading. In a preliminary earnings release, the apparel chain said comparable sales are expected to be down about 3% in the three-month period ended May 3. Revenue is projected to be about $1.1 billion, a decline of roughly 5% from a year earlier. The stock has declined 24% this year through Tuesday’s close and closed lower in Wednesday trading.

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On this episode of Stock Movers:

- American Eagle (AEO) shares slip as the company pulled its guidance for the full year following a first quarter that was marred by discounting and a write-down of inventory, sending the stock down in New York trading. In a preliminary earnings release, the apparel chain said comparable sales are expected to be down about 3% in the three-month period ended May 3. Revenue is projected to be about $1.1 billion, a decline of roughly 5% from a year earlier.

- KKR & Co. (KKR) shares rose after Morgan Stanley upgraded the private equity firm to overweight from equal-weight, recommending it as a way to play the anticipated capital markets recovery. “Leaning into risk with upgrade of KKR on the back of greater-than-expected tariff de-escalation with China, and scope for better-than-feared macro path ahead, with lower recession probability, less upward inflation pressure and reduced tail risk,” wrote Morgan Stanley analysts including Michael Cyprys.

- Boeing (BA) shares are up after the company landed its biggest-ever aircraft order, with Qatar Airways agreeing to purchase up to 210 widebody aircraft, including the 787 Dreamliner and 777X model, in a deal worth $96 billion. The deal is a major win for Boeing, Qatar Airways, and President Donald Trump, who witnessed the signing ceremony and touted the pact as a record that would help secure jobs at home. The announcement in the marble-clad halls of the Qatari Royal Court gave each of the parties in attendance a big win: Trump is on a mission to the Persian Gulf to pull in trillions of dollars of commercial accords to showcase his dealmaking chops. Qatar and its namesake airline get to cement their relationship with the US by backing the country’s biggest exporter. And Boeing walks away with an order that extends its dominance in a region that’s been a major buyer of its most expensive jets.

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On this episode of Stock Movers:
- SuperMicro (SMCI) extends gains after the Saudi Arabia-based data center company DataVolt signs a multi-year partnership agreement with the beleaguered US chipmaker.
- AMD’s shares rise after the board approves a $6 billion share repurchase plan that represents 3.3 percent of the company’s current market value, according to data compiled by Bloomberg.
- Aurora Innovation (AUR) shares fall after Uber announced a $1 billion convertible offering, with the notes exchangeable into shares of Aurora.

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On this episode of Stock Movers:
- American Eagle Outfitters shares fall after it pulled its guidance for the full year following a first quarter that was marred by discounting and a write-down of inventory.
- Cboe Global Markets shares declined after Morgan Stanley double downgraded the stock, recommending lower defensives exposure on the back of greater than expected tariff de-escalation between China and the US.
- SuperMicro extends gains after Saudi Arabia-based data center company DataVolt signs a multi-year partnership agreement with the beleaguered US chipmaker.

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On this episode of Stock Movers:
- Nvidia (NVDA) is higher this morning after the Trump administration cleared a path for Saudi Arabia and the United Arab Emirates to pursue their artificial intelligence ambitions, with US tech companies like Nvidia and AMD planning to spend billions of dollars in the region.
- UnitedHealth Group (UNH) is up this morning, reversing yesterday's significant downswing. It's seeing a rebound after news the company replaced its CEO, Andrew Witty, with former CEO Stephen Hemsley, and suspended earnings guidance, citing unexpected medical costs and challenges with its Medicare strategy.
- Super Micro Computer (SMCI) is on the upswing this morning following Tuesday's 16% rally, after Saudi Arabia-based data center company DataVolt signs a multi-year partnership agreement with the beleaguered US chipmaker.
- Burberry (BURBY) shares jumped as much as 16% after the British luxury group’s fourth-quarter retail sales beat estimates, sparking hopes among analysts that its strategic plan could bear fruit and the company is seeing the early signs of a turnaround. Burberry also plans to cut almost a fifth of its workforce, affecting up to 1,700 roles, to achieve an additional £60 million of savings in the next two years.

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On this episode of Stock Movers:
- Nvidia (NVDA) is higher this morning after the Trump administration cleared a path for Saudi Arabia and the United Arab Emirates to pursue their artificial intelligence ambitions, with US tech companies like Nvidia and AMD planning to spend billions of dollars in the region.
- Advanced Micro Devices (AMD) is following Nvidia on news of deals in the Middle East during President Trump's visit. The deals will give Saudi Arabia and the UAE wider access to advanced AI chips, with companies like Nvidia, AMD, and Amazon investing in projects worth billions of dollars, including data centers and AI infrastructure.
- UnitedHealth Group (UNH) is up this morning, reversing yesterday's significant downswing. It's seeing a rebound after news the company replaced its CEO, Andrew Witty, with former CEO Stephen Hemsley, and suspended earnings guidance, citing unexpected medical costs and challenges with its Medicare strategy.
- Super Micro Computer (SMCI) is on the upswing this morning following Tuesday's 16% rally, after Saudi Arabia-based data center company DataVolt signs a multi-year partnership agreement with the beleaguered US chipmaker.

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On this episode of Stock Movers:
- Burberry plans to cut almost one-fifth of its work force as its new chief executive officer tries to turn around the British trench-coat maker, after its push into high fashion flopped amid a downturn in global demand for luxury goods.
- Alstom falls as much as 17%, the most since November 2023, after the French transport system company’s latest earnings. Morgan Stanley says the quarterly print is ahead “but the softer guidance will likely be the focus,” while JPMorgan called the outlook “somewhat light.”
- TUI shares slide as much as 11%, most in three months, after the tour and travel operator signaled a negative bookings inflection for the key summer season. The group also reported a smaller-than-expected Ebit loss for 2Q and reiterated its guidance for the full year.

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On this episode of Stock Movers:

- Nvidia (NVDA) shares are surging as the AI chipmaker, along with Advanced Micro Devices, will supply semiconductors to Saudi Arabian artificial intelligence company Humain for a massive data center project, acting under a Trump administration initiative that lifts restrictions on delivering advanced technology to the region. Nvidia Chief Executive Officer Jensen Huang announced the partnership on stage at the Saudi-US Investment Forum in Riyadh, the Gulf nation’s capital. The announcement came alongside US President Donald Trump’s visit to the country. Separately, AMD will provide chips and software for data centers “stretching from the Kingdom of Saudi Arabia to the United States” in a $10 billion project, according to a statement.

- Coinbase (COIN) shares jumped as much as 26% on Tuesday, the biggest intraday gain since Nov. 6 to the highest level since February after S&P Dow Jones Indices said the company will join the S&P 500 Index before trading opens May 19. The company will replace Discover Financial Services in the index prior to the start of trading on May 19, S&P Dow Jones Indices said in a press release. The inclusion of Coinbase is viewed as a vindication by crypto faithfuls who helped President Donald Trump win the election in November.

- Super Micro Computer (SMCI) shares are trading up after Raymond James initiated coverage of the server maker's stock with an 'outperform' rating and a price target of $41.

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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, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
 
- Coinbase (COIN) shares skyrocketed as much as 26% in trading, the biggest intraday gain since Nov. 6 to the highest level since February, after S&P Dow Jones Indices said the company will joins the S&P 500 before trading begins on May 19th. The company will replace Discover Financial Services in the index prior to the start of trading on May 19, S&P Dow Jones Indices said in a press release. The inclusion of Coinbase is viewed as a vindication by crypto faithfuls who helped President Donald Trump win the election in November.

- First Solar (FSLR) shares soared after JPMorgan analyst Mark Strouse said the US budget reconciliation bill is better than “the more bullish end of investor expectations” for solar, wind and geothermal firms. Strouse said First Solar is the “best positioned” name to benefit from the bill, which updates provisions of the Inflation Reduction Act.

- Hertz (HTZ) shares closed lower after the car-rental company posted a larger-than-expected loss in the first quarter, pressured by a slowdown in customer bookings. Revenue fell 13% in the period, contributing to an adjusted loss of $1.12 per share, the company said in a statement late Monday. Analysts had expected a 99-cent deficit on average, according to estimates compiled by Bloomberg. The company showed declines on multiple key metrics. While forward bookings from leisure customers were up from a year ago, demand from corporate and government customers has moderated.

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On this episode of Stock Movers:

- UnitedHealth (UNH) shares are down. The company unexpectedly replaced its chief executive and suspended earnings guidance, raising increasing questions over how the company once regarded as a safe bet by investors has got its cost predictions so wrong. UnitedHealth brought back Chairman and former CEO Stephen Hemsley for the top role, saying Andrew Witty has resigned “for personal reasons.” The health insurer, whose top insurance executive was murdered in New York last December, also ripped up its 2025 outlook.

- First Solar (FSLR) shares soared after JPMorgan analyst Mark Strouse said the US budget reconciliation bill is better than “the more bullish end of investor expectations” for solar, wind and geothermal firms. Strouse said First Solar is the “best positioned” name to benefit from the bill, which updates provisions of the Inflation Reduction Act.

- Simon Property Group (SPG) shares declined as much as 5.7% after the retail REIT reported first-quarter results. While the company maintained annual real estate funds from operation guidance, it expects results to “trend towards the middle of the range” due to current macro and tariff uncertainty. Citi said this could be below expectations given the strong first-quarter results.

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