Bank of America Climbs, Netflix Rises, Boeing Falls as China Halts Jet Orders
On this episode of Stock Movers: - Bank of America (BAC) shares climb after its stock traders posted a record quarter due to volatile markets. Revenue from equity trading rose 17% to $2.18 billion in the first three months of the year, the company said in a statement Tuesday. That helped Bank of America beat analysts’ estimates for per-share earnings.- Netflix (NFLX) shares rise after the Wall Street Journal reported that the streaming-video giant aims to double its revenue and reach a $1 trillion market capitalization by 2030. - Boeing (BA) shares fall after Bloomberg reported that China had ordered its airlines not to take any further deliveries of the planemaker’s jets. It's part of the tit-for-tat trade war that’s seen US President Donald Trump levy tariffs of as high as 145% on Chinese goods, according to people familiar with the matter.See omnystudio.com/listener for privacy information.
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2:50
Applied Digital Falls, Rocket Lab Rises, Netflix Higher on Growth Potential
On this episode of Stock Movers:- Applied Digital (PLD) shares fall after the digital infrastructure company reported third-quarter results that missed expectations for revenue and adjusted Ebitda. Analysts remain focused on when the company will sign a lease with a hyperscaler.- Rocket Lab (RKLB) shares rise after the company said it was selected to provide hypersonic test launch capability through development programs in the US and UK. The company intends to bid for contracts and task orders across both programs with its Hypersonic Accelerator Suborbital Test Electron launch vehicle- Netflix (NFLX) shares rise after the Wall Street Journal reported that the streaming-video giant aims to double its revenue and reach a $1 trillion market capitalization by 2030.See omnystudio.com/listener for privacy information.
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2:38
Citi and Bank of America Earnings; GM Trends Down; Boeing China Conerns
On this episode of Stock Movers:- Bank of America (BAC) is higher this morning after it reported strong earnings with big bank earnings wrapping up this week. Chairman and CEO Brian Moynihan also said that the bank will have to potentially face changing economic conditions.- General Motors (GM) is selling off after yesterday's gains that came when President Trump signaled he's looking to pause auto tariffs so car companies can adjust to the duties. The president says the automakers will "need a little more time" to adjust to manufacturing auto parts in the US.- Boeing (BA) is lower this morning on a headline that China has ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The move is seen as part of the ongoing trade war between the US and China, with China imposing retaliatory tariffs of 125% on American goods, including aircraft and parts.See omnystudio.com/listener for privacy information.
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3:51
General Motors Trends Down; Bank of America Pops on Earnings; Boeing Slides on China News
On this episode of Stock Movers:- Bank of America (BAC) is higher this morning after it reported strong earnings with big bank earnings wrapping up this week. Chairman and CEO Brian Moynihan also said that the bank will have to potentially face changing economic conditions.- General Motors (GM) is selling off after yesterday's gains that came when President Trump signaled he's looking to pause auto tariffs so car companies can adjust to the duties. The president says the automakers will "need a little more time" to adjust to manufacturing auto parts in the US.- Boeing (BA) is lower this morning on a headline that China has ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The move is seen as part of the ongoing trade war between the US and China, with China imposing retaliatory tariffs of 125% on American goods, including aircraft and parts.- PepsiCo (PEP) is lower after Bank of America analyst Bryan Spillane downgraded the company to Neutral from Buy with a $155 price target, citing Frito-Lay North America growth likely remaining below the long-term trendline this year.See omnystudio.com/listener for privacy information.
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3:54
Hermes Conquers LVMH, Auto's Gain, BE Semi Shares Jump
On this episode of Stock Movers:- Hermès’s market capitalization surpassed that of rival LVMH, the conglomerate which once tried to buy the maker of the coveted Birkin bag in a stealth raid that shocked the French corporate world 15 years ago. Hermès International SCA’s valuation reached €243.65 billion ($276.3 billion) on Tuesday, briefly crossing the €243.44 billion of LVMH Moët Hennessy Louis Vuitton SE and catapulting it into the most valuable company on France’s benchmark CAC40 index. The stunning reversal in fortunes comes after LVMH tumbled as much as 8.4% in Paris following disappointing first-quarter results on slowing demand in China and the US and amid threats of an escalating trade war.- President Donald Trump said he is exploring possible temporary exemptions to his tariffs on imported vehicles and parts to give auto companies more time to set up US manufacturing. “I’m looking at something to help car companies with it,” Trump told reporters Monday in the Oval Office. “They’re switching to parts that were made in Canada, Mexico and other places, and they need a little bit of time, because they’re going to make them here.”- BE Semiconductor shares rally as much as 9.7% after Applied Materials said it has acquired a 9% stake in the Dutch chip-equipment maker via market-based transactions. Applied Materials says the investment isn’t subject to regulatory approvals; it doesn’t intend to seek board representation at BE Semi, and it has no plans to purchase additional sharesSee omnystudio.com/listener for privacy information.
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