Latest news with #StockMovers
Bloomberg
2 days ago
- Business
- Bloomberg
Stock Movers: Palantir, Citi, Centene
On this edition of Stock Movers, we take a look at some of the week's biggest gainers and decliners: - Palantir (PLTR) shares posted another solid week of gains and is among the best performers of the year so far. Earlier in the week, President Donald Trump unveiled a $70 billion in investments in artificial intelligence and energy in Pennsylvania and hosted an event in Pittsburgh. Palantir CEO Alex Karp was in attendance. - Citi (C) shares had a good week after delivering earnings. The bank's traders rode the tariff-induced volatility in markets to their best second quarter in five years, with revenue buoyed by record trading volumes in the quarter. Revenue from Citi's fixed-income trading business soared 20% to $4.3 billion, beating the $3.9 billion predicted by analysts in a Bloomberg survey. Citigroup's stock traders hauled in $1.6 billion, also surpassing expectations, aided by a surge in prime balances to record levels during the period. Centene (CNC) shares slid 11% this week. The healthcare company has been under pressure amid changing regulations at the federal level, and since President Donald Trump's sweeping tax and spending bill and its impact on Medicaid.
Bloomberg
2 days ago
- Business
- Bloomberg
Stock Movers: Hess, Rails, 3M
On this episode of Stock Movers: - Hess (HES) and Chevron (CVX) are both higher as Hess Corp. won its arbitration battle with Exxon Mobil Corp., clearing the way for it to be bought by Chevron Corp. The decision is a major victory for Chevron, according to the text, ending a period of strategic limbo that hurt its stock. Exxon Mobil Corp. said it "disagree[s] with the ICC panel's interpretation but respect[s] the arbitration and dispute resolution process", according to a company statement. - Norfolk Southern (NSC) shares are higher as Union Pacific Corp. (UNP) is exploring an acquisition of Norfolk Southern Corp., according to people familiar with the matter. A deal would merge the No. 1 and No. 5 North American railroads by revenue, companies with a combined market value of almost $200 billion. Union Pacific Chief Executive Officer Jim Vena and Norfolk Southern's chief financial officer Jason Zampi have expressed support for a merger, with Vena saying he thinks it would be beneficial for the country and Zampi noting there would be a lot of benefit. - Netflix (NFLX) is lower despite its earnings beat. The streaming-video company reported second-quarter results that beat expectations and raised its full-year forecast. The stock has been a strong performer this year, up nearly 50% off an April low. JPMorgan wrote, While Netflix is executing well and boosted its forecast as expected, 'the shares need a breather.' - 3M (MMM) is higher after it raised its profit forecast to $7.75 to $8 a share this year, including the expected impact of tariffs. The company's adjusted second-quarter earnings were $2.16 a share, better than analysts' average estimate of $2.01. Under Chief Executive Officer William Brown, 3M has put measures in place to mitigate tariffs, including shifting production and pricing changes.
Bloomberg
2 days ago
- Business
- Bloomberg
Stock Movers: Chevron, Netflix, Talen
On this episode of Stock Movers: - Hess (HES) and Chevron (CVX) are both higher as Hess Corp. won its arbitration battle with Exxon Mobil Corp., clearing the way for it to be bought by Chevron Corp. The decision is a major victory for Chevron, according to the text, ending a period of strategic limbo that hurt its stock. Exxon Mobil Corp. said it "disagree[s] with the ICC panel's interpretation but respect[s] the arbitration and dispute resolution process", according to a company statement. - Netflix (NFLX) is lower despite its earnings beat. The streaming-video company reported second-quarter results that beat expectations and raised its full-year forecast. The stock has been a strong performer this year, up nearly 50% off an April low. JPMorgan wrote, While Netflix is executing well and boosted its forecast as expected, 'the shares need a breather.' - Talen Energy (TLN) is higher as it's buying Caithness Energy's Moxie Freedom Energy Center in Pennsylvania and Caithness and BlackRock's Guernsey Power Station in Ohio for $3.8 billion. Chief Executive Officer Mac McFarland said the plants are "the closest thing to adding another nuclear plant to our portfolio" and that buying them was the fastest and cheapest way to help meet AI needs through this decade. - 3M (MMM) is higher after it raised its profit forecast to $7.75 to $8 a share this year, including the expected impact of tariffs. The company's adjusted second-quarter earnings were $2.16 a share, better than analysts' average estimate of $2.01. Under Chief Executive Officer William Brown, 3M has put measures in place to mitigate tariffs, including shifting production and pricing changes.
Bloomberg
3 days ago
- Business
- Bloomberg
Stock Movers: PepsiCo, United Airlines, Lucid
On this episode of Stock Movers: - PepsiCo (PEP) shares rise after international growth helped buoy PepsiCo Inc.'s second quarter earnings, with the company planning to lean into higher-protein offerings and smaller portion sizes. - United Airlines (UAL) shares gain after the airline said the second half of the year has become more predictable and suggested it may be able to beat its earnings targets after customers returned to booking flights. - Lucid (LCID) shares jump after news that it's teaming up with Uber and Nuro to launch a robotaxi fleet, with plans to deploy at least 20,000 robotaxis over six years.
Bloomberg
3 days ago
- Business
- Bloomberg
Stock Movers: Lucid, Starbucks, Steve Madden
On this episode of Stock Movers: - Lucid (LCID) shares jump after news that it's teaming up with Uber and Nuro to launch a robotaxi fleet, with plans to deploy at least 20,000 robotaxis over six years. - Starbucks (SBUX) shares fall as Jeffries cut the recommendation on the chain of coffee shops to underperform from hold. Jeffries wrote that 'the stock has surpassed reasonable expectations for improving fundamentals' and the valuation is 'unwarranted.' - Steve Madden (SHOO) shares rise after Citi upgraded the stock to buy from neutral, saying the footwear maker's margins are bottoming as fashion trends turn more favorable.
