Stock Movers

Today's biggest winners and losers in the stock market.
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, Katie Griefeld, Carol Massar and Tim Stenovec

- Wall Street CEOs described their impressive second-quarter earnings in confident terms on Tuesday, as all five banks that reported results notched double-digit profits. The banks — JPMorgan, Goldman Sachs (GS), Citi (C), Wells Fargo (WFC), and Bank of America (BAC) — generally reported big gains in equities trading revenue and investment banking fees.

- Lucid Group (LCID) shares sank Tuesday after a news report said the electric vehicle maker is working with restructuring adviser AlixPartners and weighing options that include filing for bankruptcy protection or going private. Lucid confirmed in a statement to Bloomberg News that it is working with the adviser while saying that rumors circulating in industry publications about a possible bankruptcy filing are “completely false.” The stock tumbled as much as 57%, in its worst intraday drop ever, triggering multiple trading halts due to volatility, following the report on the website for the trade publication EV.

- International Business Machines (IBM) shares slid by the most in almost six decades after the company reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers shifting their spending to chips and servers amid AI-fueled shortages. Sales from IBM’s infrastructure division were especially hard hit, dropping 7%. The company said it’s still reviewing its books and final results, set to post next week, may be slightly different.

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On this episode of Stock Movers:
- IBM (IBM) shares plunge. International Business Machines Corp. reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers spending their money on chips and servers amid AI-fueled shortages. Preliminary second-quarter revenue totaled $17.2 billion, below analysts’ estimates of $17.9 billion, with sales from IBM’s infrastructure division dropping 7%.
- Goldman Sachs (GS) shares rise. Goldman Sachs Group Inc. posted $7.42 billion for a quarter that saw indexes rip higher and ongoing market volatility around artificial intelligence and war in the Middle East. The firm's equities result jumped 72% from a year earlier, driven both by financing and taking profit in arranging bets, and its investment bankers posted their highest fees since 2021 from advising on mergers and underwriting.
- HCA Healthcare (HCA) shares drop. The healthcare services company cut its earnings per share forecast for the full year. It cited more patients struggling to access health insurance on Obamacare exchanges. HCA said a jump in the number of patients who lost Obamacare health insurance coverage hit pre-tax income by about $400 million in the second quarter.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- IBM (IBM) shares are plummeting after the company reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers spending their money on chips and servers amid AI-fueled shortages.
- Bank of America (BAC), JPMorgan (JPM), and Wells Fargo (WFC) all reported early this morning. Wells Fargo reported second-quarter earnings that beat Wall Street estimates on higher fees from wealth management and investment banking. JPMorgan soared past all estimates on equities trading, but missed on FICC sales and trading revenue. Bank of America net interest income met estimates. Shares have oscillated in early trading.
- Apple (AAPL) shares are falling after being cut to underweight from sector weight at KeyBanc, which expects weaker device demand and service revenue growth in the US, a dynamic that makes the stock look unfavorable due to its high valuations.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- BofA (BAC) reported equities trading revenue excluding DVA for the second quarter that beat the average analyst estimate.
- JPMorgan (JPM) reported equities sales & trading revenue for the second quarter that beat the average analyst estimate.
- Wells Fargo (WFC) reported second-quarter earnings that beat Wall Street estimates on higher fees from wealth management and investment banking.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Ericsson's shares fell as much as 10.3%, the most in about 18 months, after the Swedish company said margins for its main business will come under pressure this quarter.
- Watches of Switzerland’s annual revenue jumped by 13%, underpinned by strong US demand that the luxury watch retailer said is laying the foundation for long-term profit growth.
- BP shares gain as much as 3.3% to touch a one-month high as Jefferies noted that the oil major’s net debt estimates for the second quarter had undershot expectations.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Ericsson's shares fell as much as 10.3%, the most in about 18 months, after the Swedish company said margins for its main business will come under pressure this quarter.
- DNB Bank missed estimates in the second quarter, falling to the lowest since early 2023, as profitable growth in deposits was offset by product-mix effects and competition.
- EssilorLuxottica has been downgraded to neutral from buy at Goldman Sachs, as the broker lowers growth estimates on tough comps and increased competition. Shares fell as much as 3.6%.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- SK Hynix extended its brutal selloff in Seoul, taking its two-day slump to more than 20% as a rout in global AI hardware stocks fueled fresh concerns that this year’s blockbuster rally in chipmakers had run too far, too fast.
- MUFG’s stock market value shot up to the highest in Japan, marking the first time a bank reached the top position since the current so-called three megabank groups were established.
- Shares of Baidu drop in Hong Kong amid growing concerns over its earnings after hosting a preview with analysts on Monday.

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Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- An AI-fueled stock rout in South Korea spilled over into the US market Monday, as SK Hynix (SKHY) American depositary shares fell as much as 9.9%. The decline came after shares of SK Hynix plunged a record 15% in South Korea, sending the benchmark Kospi index down 9% and triggering a market-wide trading suspension.

- Braiin Limited shares are trading higher after the company announced the launch of ARIA, an AI-native workforce designed for the real estate sector. ARIA aims to enhance property management and customer engagement through intelligent automation, targeting the global real estate software market valued at approximately $32 billion.

- Oil prices jumped on Monday as President Donald Trump said the U.S. will reimpose a blockade on Iranian ports and provide other countries safe passage ----for a fee ---- through the Strait of Hormuz. Energy companies such as Valero Energy Corp., Phillips 66 and Marathon Petroleum Corp. were among 15 stocks in the S&P 500 that set a record high in today’s session.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.
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, Katie Griefeld, Carol Massar and Tim Stenovec

- A group of 12 states sued Paramount Skydance (PSKY) Monday seeking to block its $110 billion bid to buy Warner Bros. Discovery (WBD) alleging the blockbuster Hollywood deal would leave viewers with higher prices and fewer choices for movies and television. In a statement, Paramount said the lawsuit was “wrong on the facts and the law” and it would vigorously defend the transaction in court. Still, shares of both companies rose.

- Tylenol maker Kenvue (KVUE), which is set to be acquired by Kimberly-Clark, slips as much as 2.3% after a federal appeals court revived lawsuits that claim the company hid alleged risks that the over-the-counter pain medication could cause autism in children whose mothers took the drug while pregnant.

- AppLovin (APP) shares sink as much as 13% after Bank of America cited data that the AI marketing platform’s eCommerce footprint is expanding at a slower-than-expected pace following its recent General Availability launch.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- An AI-fueled stock rout in South Korea spilled over into the US market Monday, as SK Hynix (SKHY) American depositary shares fell as much as 9.9%. The decline came after shares of SK Hynix plunged a record 15% in South Korea, sending the benchmark Kospi index down 9% and triggering a market-wide trading suspension.

-Biogen (BIIB) was raised to buy from hold at Truist Securities as analyst Danielle Brill sees an attractive risk reward ahead of pivotal clinical data readouts. Biogen is expected to show detailed data on its experimental Alzheimer's drug, diranersen, at the Alzheimer's Association International Conference in London, which could give a shot in the arm to Biogen stock.

- TriCo Bancshares (TCBK) shares rise. First Hawaiian agreed to acquire TriCo in an all-stock transaction valued at $63.12 per share based on Friday’s closing price. Upon closing, First Hawaiian and TriCo shareholders are expected to own approximately 65% and 35%, respectively, of the combined company.

See omnystudio.com/listener for privacy information.