On this episode of Stock Movers:- Newmont (NEM) shares plunged following the resignation of the company’s chief financial officer. Shares of the world’s top gold producer fell as much as 8.9% on Tuesday in New York, marking the biggest drop since April. The slump followed Newmont’s post-market announcement Monday that CFO Karyn Ovelmen tendered her resignation last week. The company didn’t disclose the reason for her departure. Chief Legal Officer Peter Wexler will serve as interim CFO until a permanent successor is hired, the company said. - Trade Desk (TTD) shares jump after S&P Dow Jones Indices said the advertising technology company will join the S&P 500 Index before trading opens on July 18.. Evercore ISI analyst Mark Mahaney says the inclusion is “additional confirmation of TTD’s very impressive fundamentals” and additional confirmation of the “centrality” of the Internet Sector- Wells Fargo (WFC) shares are down after the bank lowered its full-year guidance for net interest income after another quarter of tepid growth amid the ongoing trade war. The San Francisco-based lender posted $11.7 billion in NII — income from lending minus the cost of deposits — for the three months through June, falling just short of analysts’ estimates of $11.8 billion. That prompted Wells Fargo to lower its full-year NII growth target to little changed from last year, down from its previous guidance of 1% to 3% growth, driven by lower NII in the bank’s markets business.See omnystudio.com/listener for privacy information.
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5:04
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5:04
AMD Higher, BlackRock Falls, Uber Lower After Baidu Partnership
On this episode of Stock Movers:- AMD (AMD) shares gain after news that Nvidia and Advanced Micro Devices plan to resume sales of some AI chips in China after securing Washington's assurances that such shipments would get approved.- BlackRock (BLK) shares fall. This comes after the firm pulled in $46 billion to its investment funds, and assets hit a record $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies.- Uber (UBER) shares are down. Uber plans to team up with Baidu to launch robotaxis on the ride-sharing platform in several markets outside of the US and mainland China through a multiyear partnership.See omnystudio.com/listener for privacy information.
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3:55
Nvidia Rises, Citigroup Gains, Wells Fargo Drops on Disappointing Earnings
On this episode of Stock Movers:- Nvidia (NVDA) shares rise after US government officials told Nvidia they would green-light export licenses for its H20 artificial intelligence accelerator, according to a blog post. - Citigroup (C) shares gain after revenue from the bank’s fixed-income trading business soared 20% to $4.3 billion versus $3.9 billion; stock traders raked in $1.6 billion.- Wells Fargo (WFC) shares drop after the bank reported 2Q net interest income at $11.7 billion, just short of analyst estimates. The bank also lowered its full-year net interest income growth target to little changed from last year.See omnystudio.com/listener for privacy information.
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4:28
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4:28
Bank Earnings; Nvidia Up on Chip Reversal; BlackRock Slips
On this episode of Stock Movers:- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.- Citi (C) shares are higher as traders had their best second quarter in five years, with revenue buoyed by record trading volumes in the quarter. Citigroup CEO Jane Fraser said, "We're improving the performance of each of our businesses to take share and drive higher returns," in a statement.- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.See omnystudio.com/listener for privacy information.
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4:18
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4:18
Bank Earnings; Nvidia Jumps on Chip Sales Resuming
On this episode of Stock Movers:- JPMorgan Chase & Co. (JPM) shares are up as the big bank giant's investment bankers had a surprise gain in the second quarter, with investment-banking fees climbing 7%, according to the bank. CEO Jamie Dimon said dealmaking "activity started slow but gained momentum as market sentiment improved". JPMorgan's stock traders had their best second quarter ever, with fixed-income trading and equity trading performing well ahead of expectations.- Wells Fargo (WFC) shares are down after lowering its full-year guidance for net interest income after a quarter of tepid growth amid the ongoing trade war. The bank posted $11.7 billion in NII for the three months through June, falling short of analysts’ estimates of $11.8 billion. Wells Fargo CEO Charlie Scharf said the bank now has the opportunity to grow in ways it could not while the asset cap was in place and can move forward to serve consumers, businesses, and communities to support US economic growth.- Nvidia (NVDA) shares rise as much as 4.8% in premarket trading on Tuesday after the company said it received assurances from the Trump administration that sales of its H20 AI chip to China would be approved, a dramatic reversal by the White House. Melius Research notes that the stock’s next stop is $5 trillion.See 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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