On this edition of Stock Movers:- Home Depot (HD) shares rise today after the company's sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening. The world’s largest home-improvement retailer said comparable sales grew 1% in the quarter, modestly below what analysts had estimated but an improvement from a 3.3% slump a year ago. “These may be shallow gains, but they show a material strengthening over the last quarter and provide confidence that the slump in home improvement is finally over,” GlobalData analyst Neil Saunders wrote in a note.- Intel (INTC) shares are higher today after Softbank agreed to take a $2 billion stake in the chipmaker. That's after a report that the Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.- Nvidia (NVDA) shares fell today, which is one of the biggest casualties of the tech selloff today. The company is reporting second quarter earnings next week, with analysts expecting earnings growth of 44% and a 53% surge in revenue to $45.9 billion.See omnystudio.com/listener for privacy information.
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, Scarlet Fu, Tim Stenovec and Emily Graffeo. - Intel (INTC) shares were higher today continuing a month-long rally. Intel bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side-effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.Shares of the struggling chipmaker have rallied 28% this month, adding about $24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a $2 billion investment from Japan’s SoftBank Group Corp. The jump has Intel trading at 53 times profits projected over the next 12 months, the highest since early 2002, according to data compiled by Bloomberg. - Palo Alto (PANW) jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Fiscal-year sales will be about $10.5 billion, the company said Monday in a statement. Analysts, on average, estimated $10.4 billion, according to data compiled by Bloomberg. - Nvidia (NVDA) shares dropped nearly 3.5% in a trading day that saw tech stocks slide across the board. The Nasdaq 100 closed down 1.4% - its second-worst drop since April’s tariff shock. See omnystudio.com/listener for privacy information.
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Intel Rallies, Viking Therapeutics Plunges, Home Depot Climbs
On this edition of Stock Movers:- Intel (INTC) shares rallied today after SoftBank agreed to buy $2 billion of the chipmaker’s stock. Analysts see the news as a positive, but continue to see a number of questions surrounding the company’s prospects. Meantime, less than two weeks after President Donald Trump called for the ouster of Intel Corp.’s Lip-Bu Tan, the company’s chief executive officer has a shot at securing billions of dollars in fresh capital that could help him turn around the troubled US chipmaker. The Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.- Viking Therapeutics (VKTX) shares plunged after the company released results from a mid-stage study of an experimental oral obesity pill that showed side effects caused about 28% of patients to drop out of the trial in just three months. That dashed speculation the oral treatment could compete with popular weight-loss injections from Eli Lilly & Co and Novo Nordisk A/S. - Home Depot (HD) shares rose today after the company's sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening. The world’s largest home-improvement retailer said comparable sales grew 1% in the quarter, modestly below what analysts had estimated but an improvement from a 3.3% slump a year ago. “These may be shallow gains, but they show a material strengthening over the last quarter and provide confidence that the slump in home improvement is finally over,” GlobalData analyst Neil Saunders wrote in a note.See omnystudio.com/listener for privacy information.
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Nexstar Rises, Home Depot Gains, Intel Up on Softbank Stake
On this episode of Stock Movers:- Nexstar (NXST) shares rise after news that the company will buy TV station operator Tegna for $3.5 billion in a cash deal that values Tegna at $22 a share.- Home Depot (HD) gains after comparable sales returned to growth in 2Q, rising 1% versus a 3.3% drop y/y; but that fell short of analyst estimates for a 1.39% growth rate.- Intel (INTC) shares are up after Softbank agreed to take a $2 billion stake in Intel. That's after a report that the Trump administration is in discussions to take a stake of about 10% in the US chipmaker.See omnystudio.com/listener for privacy information.
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Home Depot Reports; Intel Government Stake; Nextstar Deal
On this episode of Stock Movers:- Home Depot (HD) shares are lower after sales metric disappointed in the latest quarter, a sign that consumers are staying away from big purchases as interest rates remain high and inflation uncertainties linger. CFO Richard McPhail said consumers are increasingly taking on small projects, but larger projects remain on hold as rates remain elevated and economic uncertainty persists.- Intel (INTC) is higher after it was reported by Bloomberg that the Trump administration is in discussions to take a stake of about 10% in Intel Corp. by converting grants made under the US Chips and Science Act into equity. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.- Nexstar Media (NXST) shares are moving on deal news. Nexstar will acquire all outstanding shares of Tegna for $22 per share in a cash deal valued at $6.2 billion. The purchase price represents a 31% premium to TEGNA’s average 30-day average stock price ending Aug. 8See omnystudio.com/listener for privacy information.
Stock Movers features five-minute conversations on today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
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