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, Katie Griefeld, Carol Massar and Lisa Mateo.

- Micron Technology (MU) plans to increase its spending on new plants in the US to $250 billion to help meet unprecedented demand for its memory chips fueled by the global artificial intelligence boom. The funds would add $50 billion to the company’s previously announced commitment of $200 billion toward expanding domestic chipmaking that includes projects in New York, Idaho and Virginia. The spending will carry through 2035 and support Micron’s goal of making 40% of its dynamic random access memory products in the US a decade from now, the company announced Thursday. Shares of Micron rose as much as 9.1% to $1,035.50 after markets opened in New York. The company’s stock is up more than 250% since the start of the year, making it the best performer among US semiconductor peers.

- PepsiCo (PEP) shares are down 2% ahead of the bell after the company reported weaker-than-expected performance in domestic food and beverage categories for the second quarter. Management blamed “consumer budgets tightening due to rising inflationary pressures,” said and constant currency core EPS growth would be primarily weighted toward the fourth quarter, which some analysts say clouds visibility.

- Costco shares fall as much as 4.1%, to the lowest intraday since Jan. 9, after the club store operator’s June comparable sales missed Street expectations.

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On this episode of Stock Movers:

- Lumentum Holdings (LITE) stock is trading higher on Thursday. The California-based technology firm is experiencing upward momentum alongside other companies in the fiber optic connectivity sector.

- PepsiCo (PEP) shares are down 2% ahead of the bell after the company reported weaker-than-expected performance in domestic food and beverage categories for the second quarter. Management blamed “consumer budgets tightening due to rising inflationary pressures,” said and constant currency core EPS growth would be primarily weighted toward the fourth quarter, which some analysts say clouds visibility.

- Meta Platforms (META) needs all the computing power it can get, according to Chief Executive Officer Mark Zuckerberg, but he is also considering renting out some of Meta's AI infrastructure to outsiders. Meta is developing plans for a cloud business, which could include selling access to various AI models hosted on Meta's existing AI infrastructure. Its stock is up over 5.52 % on Thursday.

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On this episode of Stock Movers:
- Micron (MU) shares rise. Micron Technology Inc. plans to increase its spending on new plants in the US to $250 billion to help meet demand for its memory chips. The company's spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US.
- Paramount (PSKY) Skydance shares slide as much as 9%, the biggest intraday decline since December 5. Arete Research downgraded the media company to sell from neutral and reduced its price target to a Street low, highlighting the amount of debt the company would be saddled with should the Warner Bros. Discovery merger go through.
- PepsiCo (PEP) shares fall. PepsiCo Inc. said consumers pulled back in the second quarter as gas prices rose, slowing its efforts to revitalize its North American snack business. The company saw a decline in revenue in its North American food business and flat volume after cutting prices by as much as 15% in some brands.

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On this episode of Stock Movers:
-Micron (MU) shares rise. Micron Technology Inc. plans to increase its spending on new plants in the US to $250 billion to help meet demand for its memory chips. The company's spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US.
-AstraZeneca (AZN) shares drop. AstraZeneca Plc's shares dropped more than 10% after a trial of a new heart drug failed to help prevent heart problems in patients with a rare disease. The drug, a gene silencer developed with Ionis Pharmaceuticals Inc., didn't reduce cardiovascular events or deaths from heart problems in a late-stage trial.
-Meta (META) shares fall. Reuters reports that the Facebook parent plans to start manufacturing its AI chip in September, citing an internal memo from the company. Meta is working with Broadcom Corp. to design and TSMC to manufacture, and it has secured long term multi-year agreements with Samsung for memory chips, Sandisk for flash storage and Sumitomo Electric for fiber optic equipment.

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On this episode of Stock Movers:
- PepsiCo (PEP) shares are higher as it reported core earnings per share for the second quarter that beat the average analyst estimate.
- Levi Strauss (LEVI) shares are lower as its full-year forecast boost underwhelmed, despite its earnings beating the average analyst estimate.
- Costco (COST) shares are moving as reported total comparable sales for June that missed the average analyst estimate.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- PepsiCo (PEP) shares are higher as it reported core earnings per share for the second quarter that beat the average analyst estimate.
- AstraZeneca (AZN) shares are plunging after the company's gene silencer drug failed to help prevent heart problems in patients with a rare and potentially fatal disease. The announcement caused Astra shares to slump by as much as 9.9% in London trading, with the bigger issue being "a degree of credibility loss." A successful trial could have led to billions of dollars more in sales, but the trial results make Astra's ambition of more than $5 billion in Wainua sales "unlikely" due to the challenging route to approval.
- Levi Strauss (LEVI) shares are lower as its full-year forecast boost underwhelmed, despite its earnings beating the average analyst estimate.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- AstraZeneca and Ionis Pharmaceuticals Inc.’s gene silencer drug Wainua failed to help prevent heart problems in patients with a rare and potentially fatal disease of the organ. AstraZeneca’s shares slumped.

- Schott Pharma shares jump by a record 22% after the company improved its guidance for the full year, prompting an upgrade at RBC Capital Markets. The stock is trading at its highest level since October.
- Bulgaria’s government may not be able to secure funding for joint project with Rheinmetall for NATO-standard shell, gunpowder plant, Mediapool news website reports, citing Economy Minister Alexander Pulev.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Deutz agreed to buy military vehicle maker Flensburger Fahrzeugbau Gesellschaft mbH for €1.6 billion ($1.8 billion), expanding further into the defense sector to benefit from Europe’s rearmament drive.
- AstraZeneca and Ionis Pharmaceuticals Inc.’s gene silencer drug Wainua failed to help prevent heart problems in patients with a rare and potentially fatal disease of the organ. AstraZeneca’s shares slumped.
- Computacenter expects first-half adjusted profit before tax to be double the prior year’s first-half figure of £81.5m, following 2Q performance ahead of expectations.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares in Chinese artificial-intelligence model maker Zhipu surged as much as 22% in Hong Kong after the company priced a $4 billion share sale at the low end of the marketed range.
- Korean stocks rose earlier as SK Hynix’s US offering being oversubscribed boosted sentiment.
- Japanese stocks advanced as a rally in US chipmakers boosted tech shares, eclipsing anxiety over escalating Middle East tensions. Tokyo Electron shares rose as much as 6.2%.

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Today’s biggest winners and losers in the stock market. 

On this episode of Stock Movers: 

• Shares of Chevron (CVX), Occidental Petroleum (OXY), and US other energy stocks gained after President Trump said a tentative ceasefire with Iran is “over.” Speaking to reporters from the NATO summit in Ankara, Trump said the US would probably launch further strikes on Iran and could resume a blockade on the country’s ports, ratcheting up pressure on Tehran and raising the prospect of a return to all-out war. The US earlier on Tuesday revoked a waiver that allowed Tehran to sell its oil globally, in response to attacks on ships in the Strait of Hormuz that it blamed on the Islamic Republic. The moves posed the greatest threat yet to a ceasefire deal between the US and Iran and talks toward a broader agreement to end the war. 
• Shares of Broadcom (AVGO) closed nearly 5% higher after Apple indicated that it plans to follow through on a pledge to boost spending on US-made components. The iPhone maker says its expanded agreement with Broadcom is expected to top $30 billion. The deal will involve manufacturing more than 15 billion chips in the US, supporting hundreds of jobs, Apple said in a statement Wednesday. Apple will also help Broadcom upgrade its production facilities in Colorado. The announcement sheds new light on an arrangement that Broadcom announced Monday, when the chipmaker said the pact would run through 2031 but didn’t offer financial details. 
• Shares of Nvidia (NVDA) are back in the green after The Information reported China plans to allow the country’s largest AI companies to purchase a “small number” of H200 chips. The move raises the prospect of Nvidia regaining access to a market that has effectively been closed following US export restrictions, providing potential upside to China revenue expectations. The chipmaker’s stock had tumbled 16% since hitting an all-time high on May 14, losing roughly $1 trillion in market value in less than two months.

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