Closing Bell: Tesla Rises, Nike Rebounds, Opendoor Tumbles

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, Carol Massar and Tim Stenovec.

- Tesla (TSLA) rose off news that Samsung will produce Tesla's AI semiconductors in a new $16.5 billion pact. Elon Musk described the value of the deal as "just the bare minimum" and said the actual output is likely to be several times higher, with the AI6 component forming the foundation of Tesla's driving hardware suite. The contract win is seen as a signal of confidence for Samsung's upcoming fabrication technology and helps burnish its reputation as the strongest alternative to TSMC, according to Ryu Young-ho, an analyst at NH Investment & Securities Co. Others in the chip space benefitted off the news, including AMD - the number two gainer in the S&P today.

- Nike (NKE) shares rose to their highest intraday level since March, after JPMorgan upgraded to the stock to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

- Opendoor Technologies (OPEN) is postponing a shareholder vote on a reverse stock split after a recent run-up in the company's shares. The company had previously scheduled a special meeting due to a notification from Nasdaq that it could be delisted for failing to maintain a stock price of $1 or more. The recent volatility in the company's stock led the board to delay the vote on stock split proposals, according to a statement Monday. Opendoor was the most actively traded stock today, down 7.87% at the close.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.

Speaker 2 (00:09):
This is the closing bell on this stock movers report
the companies making moves at the close of US trading
with Carol Masser, Tim Stenebeck, Romain Bostik, and Scarlett Food.

Speaker 3 (00:22):
All right, let's get to some of the individual gainers
on this Monday, and definitely the semiconductor space. I'm looking
at the socks definitely easily outperforming the broader market today.
It's up about one point six percent here, so pretty
much finishing at its highs of the session. And so
you also had if you look at some particular names
luck going on in this space. AMD was also your

(00:42):
number two gainer in the s and P five hundred,
that one was up about four percent. So you did
have US chip makers rising as AMD. You saw UBS
analysts raise their price target on AMD to two hundred
and ten from one P fifty. You had AMD today
closing up about four point three as I said, and
closing out one seventy three and change, so some room

(01:03):
to run. According to UBS, they also did maintain a
buy rating on the shares. You also had Samsung Electronics
producing as semiconductors for Tesla, a new sixteen and a
half billion dollar pack, so a big win for that
company's foundery division. So there is a lot going on
in the chip space today, and you definitely saw even
some European names ASML for example. It also gained some

(01:27):
ground and that is on the US EU trade deal,
or at least progress certainly on that front. Do you
want to mention Tesla up about three percent in today's session.
Morgan Stanley Analysts forecasts at the market for self driving
vehicles will hit two hundred billion by twenty thirty, so
we saw Tesla up about three percent, and then Nike.
I just want to mention up about three point nine
percent in today's session. JP Morgan coming out upgrading it

(01:49):
from neutral to overweight, raising its price target to from
sixty four to ninety three, and telling clients to just
buy it. In a new note out today.

Speaker 1 (01:58):
I just want to check in on some earnings, just
on Cadence to This is a software company and the
software primarily used to design chips. The company saying the
revenue in the most recent quarter came in at about
one point two eight billion dollars, a modest feed over
street expectations of one point twenty five billion adjusted EPs
also beat a dollar sixty five versus street estimates of
a dollar fifty six a share. In The company raising

(02:19):
is twenty twenty five revenue outlook, saying that it expects
growth for the full year. Let me just make sure
I have this right of thirteen percent. Here you see
the shares hired by about six percent in the after
hour straight.

Speaker 4 (02:31):
Okay, that's Cadence design. We got our eyes out for Whirlpool.
We're expecting them to report in just a few minutes.
In the meantime, let's take a look at some decliners
in today's trade. I want to start with Open Door
and before Romaine. You give me a hard time about
choosing this one. It was the most actively traded stock.

Speaker 1 (02:46):
Yeah today, Yeah, I know, Tim, Okay, you get a pass.

Speaker 3 (02:50):
It's all right.

Speaker 4 (02:52):
You know I got to come with you know, Amo
to back up my choice is here. Seven point nine
percent of the downside. Here the company's postponing a shareholder
vote on a reverse stock split after a recent run
up in the company shares. Remember, it had scheduled this
meeting due to it notification from Nasdaq that it could
be delisted for failing to maintain a stock price of
one dollar or more. That was then this is now.

(03:13):
Shares are now above two dollars per share. The reason volatility,
though in the company's stock price, led the board to
delay the vote on the stock split proposal. Still, the
stockfelt today seven point nine percent and Gilad shares fell
as analysts noted a potential risk to the company's HIV
preventative franchise after Robert F. Kennedy, the Secretary of Health
and Human Services, had been reporting to plan the dismissal

(03:37):
of an advisory panel that determines what preventative health measures
insurers must coverage. Shares fell two point seven percent today.
RFK Junior plans to dismiss all sixteen panel members of
the US Premititive Services Task Force because you've used them
as two quote woke according to The Wall Street Journal,
citing people familiar with the matter, and finally, Duelingos what

(03:58):
two woke? According to the Wall Street Journal, this is yeah,
I'm quoting the Journal's reporting here. Finally du Lingo down
six point life. They did not, I'm sorry to say.
Moving on to du Lingo shares down six and a
half percent today, Citizens out with a note that said
it was cautious on the company's upcoming results. The company

(04:21):
said third party data suggests engagement slowed since April. The analyst,
Andrew Boone ads that slowing growth raises the question of
whether Dual Lingo's total addressable market is saturated. They did
lower the price target to four fifty from four to
seventy five. The company is reporting results for the second
quarter just in a couple of weeks August six Next week,
actually August sixth.

Speaker 2 (04:43):
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