Intel Rises, Mission Produce Drops, Tango Therapeutics Surges

BMW Stalls, Hapag-Lloyd Up, AO World Down

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - BMW shares fall as much as 12% to their lowest since November 2020 after the German carmaker slashed its profitability forecast and ramped up its cost-cutting program, flagging worsening demand in China and negative sentiment from the war in the Middle East. - Hapag-Lloyd shares rise as much as 6.1%, before paring the move, following a Manager Magazin report that Mediterranean Shipping Company owner Gianluigi Aponte has enquired with shareholders in the German container shipper about buying a stake. - AO World Plc is replacing UK call center employees with recruits based in South Africa, as the online household goods retailer hit out at higher taxes and other costs on businesses imposed by the British government. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

BMW Down, Auto1 Up, Hays Rises

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - BMW shares fall as much as 12% to their lowest since November 2020 after the German carmaker slashed its profitability forecast and ramped up its cost-cutting program, flagging worsening demand in China and negative sentiment from the war in the Middle East. - Shares in Auto1, the platform for buying and selling used cars, rose after providing long-term financial targets for its Merchant and Retail segments at today’s capital markets event. - Hays shares rise as much as 7.4%, the most in almost two months, after the recruitment company said it has offloaded operations in six countries and is considering options in a number of other nations. Panmure Liberum said the move is the right thing to do. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

SpaceX Overtakes Amazon in Third Trading Day, Take-Two Soars, La-Z-Boy Rises After Earnings

On this episode of Stock Movers: - SpaceX (SPCX) jumped for a third straight day on Tuesday, overtaking Amazon.com Inc. in value to become the fifth-largest stock in the world. Shares closed 4.8% higher, pushing its market capitalization to $2.65 trillion, roughly $8 billion higher than Amazon’s. At the stock’s intraday high, the market value of Elon Musk’s rocket and AI company topped Microsoft Corp. to briefly become the world’s fourth-largest stock. SpaceX announced Tuesday that it has formally agreed to take over Cursor in a deal that values the AI coding startup at $60 billion. Cursor investors will have the right to receive SpaceX stock based on the implied equity value of Cursor, according to a company filing. - Take-Two Interactive (TTWO) shares gained as much as 5.2% after Piper Sandler estimated the video-game maker would have 46 million unit sales of Grand Theft Auto VI when the game launches.  - La-Z-Boy (LZB) shares traded higher after the market close after it delivered earnings the beat estimates. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Closing Bell: SpaceX Becomes World's Fifth Largest Stock, Snap Falls, Tractor Supply Slides

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. - SpaceX (SPCX) jumped for a third straight day on Tuesday, overtaking Amazon in value to become the fifth-largest stock in the world. Shares closed 4.8% higher, pushing its market capitalization to $2.65 trillion, roughly $8 billion higher than Amazon’s. At the stock’s intraday high, the market value of Elon Musk’s rocket and AI company topped Microsoft Corp. to briefly become the world’s fourth-largest stock. - Snap (SNAP) introduced Specs, a $2,195 pair of augmented reality glasses that co-founder Evan Spiegel described as a leapfrog advancement and the computer of the future. The thick-rimmed eyeglasses, which go on sale this fall, were unveiled at the AWE mixed-reality conference in Long Beach, California, on Tuesday. They have a traditional, albeit bulky, design, and the lenses can automatically transition between clear and tinted states depending on lighting conditions. The stock fell in trading on Tuesday. - Tractor Supply (TSCO) shares dropped after the farm store chain was downgraded at Truist and Piper Sandler, citing concerns about competition, including Lowe’s, and a falling large dog population that reduces the company’s TAM. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

SpaceX Rallies Third Straight Day, Netflix Falls, Moderna Rises

On this episode of Stock Movers: - SpaceX (SPCX) jumped for a third straight day on Tuesday, putting it on track to overtake Amazon.com in value and briefly making it the world’s fourth largest stock ahead of Microsoft. At least some of the price action since its debut has been driven by the relatively small number of SpaceX shares available to trade, with only about 4.2% accessible on day one. That can make trading more volatile, with the stock more prone to large swings that can quickly change its market value. The gains in SpaceX shares are a sign of consistent investor demand for the stock, calming fears that the record IPO would be too large for the market to digest. - Netflix (NFLX) shares fell after a report from Semafor that the streaming giant lost out to Fox in a pursuit of Roku. Netflix is also reportedly one of a number of companies interested in buying Lionsgate. Yesterday, Fox agreed to acquire Roku in a deal with an enterprise value of about $22 billion, creating a new television juggernaut and marking a big push into ad-supported streaming.  - Moderna (MRNA) shares rise as much as 10%, most intraday since May 8, after the FDA released briefing documents on its influenza vaccine that analysts say may signal a favorable outcome. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.