Stock Movers

Today's biggest winners and losers in the stock market, a look at the notable movers:

On this episode of Stock Movers:
- Intel (INTC) shares rose after the Information reported that Alphabet Inc.'s Google will rely on it for more than 3 million specialized AI chips in 2028. Google decided to tap Intel to make some of its tensor processing units — TPUs for short — after months of testing the chipmaker’s technology, the Information said Monday, citing two unnamed sources.

-Fervo Energy (FRVO) shares rise as much as 3.7% after it was initiated with mostly buy ratings as analysts see upside for the geothermal company from growing power demand, its shale technology and agreements already in place with firms like Shell and Google.

-Avis Budget (CAR) shares rise 5% as Barclays analyst Dan Levy boosted his recommendation on the car-rental firm to equal weight from under weight and increased the target price to $160 from $140.

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On this episode of Stock Movers:
-Intel (INTC) shares rise. Alphabet Inc.'s Google placed an order with Intel Corp. to manufacture more than 3 million of its specialized AI chips in 2028, the Information reported, citing two unnamed sources.
-Tango Therapeutics (TNGX) shares soar. This comes after initial results of a study showed a combination of its drug and a Revolution Medicines Inc. medicine shrunk tumors in advanced pancreatic cancer patients.
-Strategy (MSTR) shares gain. Strategy Inc. bought 1,550 Bitcoin for an aggregate price of about $101.3 million, according to a filing Monday. The purchase follows a turbulent week for Bitcoin and a rare token sale by Strategy that raised concerns about the company's digital-asset treasury model.

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On this episode of Stock Movers:
- Nvidia (NVDA) shares are up after Chief Executive Officer Jensen Huang called a global tech stocks selloff a buying opportunity, saying the buildout of artificial intelligence has just begun.
- Campbell's (CPB) shares gain after the canned soup maker reported adjusted earnings per share for the third quarter that beat the average analyst estimate.
- Eli Lilly (LLY) shares rise after the company presented data showing its next-generation shot, retatrutide, can help patients lose 30% of their body weight over about two years.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of The Campbell's Company (CPB) edged higher ahead of the US market open after the canned soup maker reported adjusted earnings per share for the third quarter that beat the average analyst estimate.
- Eli Lilly (LLY) shares gained in the early session following obesity drug presentations at the American Diabetes Association conference. Citi analysts say their conviction on Lilly is firmly intact, given the company’s incretin portfolio is “not built around singular blockbusters.” The weight-loss pill Foundayo and triple-G retatrutide “carry development programs with enough indication breadth to make them category-defining franchises across cardiometabolic and obesity-led complications,” according to Citi analyst Geoff Meacham.
- Shares of Marvell Technology (MRVL) and Flex (FLEX) are rising in premarket trading as the companies are set to replace Pool Corp. and Campbell’s in S&P 500 before the market open on June 22, S&P Dow Jones Indices says in emailed statement. Inclusion in the benchmark is becoming more important for companies in a world increasingly dominated by passive investment funds; on the flip side, expulsion from the benchmark can weigh on stock prices, as passive investors are forced to sell the shares and realign with the S&P 500’s new composition.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Marvell Technology (MRVL) and Flex (FLEX) are rising in premarket trading as the companies are set to replace Pool Corp. and Campbell’s in S&P 500 before the market open on June 22, S&P Dow Jones Indices says in emailed statement. Inclusion in the benchmark is becoming more important for companies in a world increasingly dominated by passive investment funds; on the flip side, expulsion from the benchmark can weigh on stock prices, as passive investors are forced to sell the shares and realign with the S&P 500’s new composition.
- Micron Technology (MU), a poster child for the rally and for Friday’s bust, rebounded ahead of the US market open. The company reached a trillion-dollar market capitalization in late May after rising more than ninefold in 12 months. The price action was extreme enough that some market strategists are questioning how long the rally can endure. Valuation jitters or updrafts in rate-hike expectations like Friday’s can catalyze minor pullbacks in broader indexes. However, for long-term investors, the question isn’t whether stocks are overvalued or the Federal Reserve raises rates 25 or 50bps. It’s about more substantial triggers that would crystallize enduring losses.
- Eli Lilly (LLY) shares gained in the early session following obesity drug presentations at the American Diabetes Association conference. Citi analysts say their conviction on Lilly is firmly intact, given the company’s incretin portfolio is “not built around singular blockbusters.” The weight-loss pill Foundayo and triple-G retatrutide “carry development programs with enough indication breadth to make them category-defining franchises across cardiometabolic and obesity-led complications,” according to Citi analyst Geoff Meacham.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Intesa Sanpaolo offered to buy Banca Monte dei Paschi di Siena for €30.6 billion ($35.3 billion) in a move that’s set to spur a new phase of dealmaking in Italian finance.
- Ingredion agreed to buy Tate & Lyle Plc for £2.7 billion ($3.6 billion), in a move that marks the end of the UK company’s near-century on the London Stock Exchange.
- Zealand Pharma shares tumbled after new data on two experimental obesity drugs fueled concerns about their ability to compete in an increasingly crowded weight-loss market.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Intesa Sanpaolo offered to buy Banca Monte dei Paschi di Siena for €30.6 billion ($35.3 billion) in a move that’s set to spur a new phase of dealmaking in Italian finance.
- Aircraft engine suppliers found themselves at the receiving end of some choice words from aviation executives at this year’s annual gathering in Rio de Janeiro, with the director general of the industry’s lobby group accusing the manufacturers of price gouging.
- Ingredion agreed to buy Tate & Lyle Plc for £2.7 billion ($3.6 billion), in a move that marks the end of the UK company’s near-century on the London Stock Exchange.

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Earnings are in focus with Oracle, Adobe, and Lennar reporting in the coming days.
Bloomberg's Nathan Hager previews the numbers with Vildana Hajric, Bloomberg Cross Asset Reporter.

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On this episode of Stock Movers, we look at some of the week's biggest gainers and decliners:

- Broadcom (AVGO) shares plunged by the most in more than 16 months after the company’s forecast for sales of its artificial intelligence chips disappointed investors. The outlook spooked investors, triggering a rotation out of AI-related tech stocks which led to a broader market selloff on Friday. The concerted slide in stocks, bonds and crypto was the biggest setback in months for the latest leg of the bull market, which traces to the end of March when negotiations began in earnest to end war in Iran. Concern has grown recently about the sustainability of an AI-fueled rally that had pushed the Philadelphia Semiconductor Index toward its best quarter ever.

- Coinbase (COIN) shares fell on Friday trading after Baird named the crypto exchange a new bearish pick due to weak trading volumes. Analyst David Koning sees lower trading volumes and the US crypto market legislation likely not passing until after mid-term elections weighing on Coinbase’s valuation.

- Humana (HUM) shares advanced in trading this week, after Morgan Stanley increased its price target on the managed care firm to $249 from $217. The health-care sector broadly climbed on Thursday, in contrast to the tech stock decline.

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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, Katie Greifeld, Carol Massar and Tim Stenovec.

- Chipotle (CMG) shares traded higher against a broader market selloff after JPMorgan upgrades to overweight from neutral citing a “rare valuation opportunity” for the stock. 

- AI-related tech stocks led a steep decline in equities on Friday. Broadcom's (AVGO) disappointing AI outlook triggered the selloff, with companies like Meta (META), Micron (MU), Arm (ARM) and Marvell (MRVL) seeing some of the biggest slides.

- Lululemon (LULU) shares tumbled to their lowest level in eight years after the upscale yogawear company cut its annual forecast due to deteriorating performance in North America. The shares fell as much as 12% when markets opened Friday in New York, touching their lowest level since May 2018. The stock has now declined more than 40% since the start of the year, making it one of the worst performers in the S&P 500 Index over the period.

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