Texas Instruments Falls, Newmont Climbs, Wells Fargo Drops on Tariff Uncertainty

On this episode of Stock Movers:
- Texas Instrument (TXN) shares fall, as geopolitical tensions between the U.S. and China continue to escalate. Earlier, the China Semiconductor Industry Association issued an emergency notice on the method for determining the origin of chip imports.
- Newmont (NEM) shares climb 3.9% premarket after UBS analyst Daniel Major upgraded the gold miner to buy from neutral and hiked the price target to $60 from $50 as the bank lifts its price forecast for bullion to $3,500 in 2026 and expects more cash returns.
- Wells Fargo & Co (WFC)shares drop, as the firm missed analysts’ estimates for net interest income in the first quarter with soft loan demand hurting the bank’s largest revenue stream as tariff uncertainty clouds the US economic outlook.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news, The.

Speaker 2 (00:08):
Stock Movers podcast, your roundup of companies making moves in
the stock market, harnessing the power of Bloomberg Data.

Speaker 3 (00:17):
Well, a look at some of the stocks that are moving.
Look under the hood right now. We're joined by Bailey Lipschutz,
the equity reporter for Bloomberg News. At the intersection of
China and chips, we find well, Texas Instruments.

Speaker 1 (00:31):
Yeah, Chips calculators. As Emily made the point, they do
you thing stock right now under the ticker TX and
worst performing the S and P five hundred. This comes
and I'm going to use a surveillance word, a little
bit of bifurcation of the semiconductors index. We're seeing Broadcom
trading higher, as is ASML and Nvidia. But the reason
that Texas Instrument along with Intel are under so much

(00:54):
pressure is because of the new Chinese tariffs targeting semiconductor import.
So Beijing raising tariffs in all US goods. US manufacturers,
Intel and Texas Instrument are down because of that.

Speaker 3 (01:06):
How much in terms of chips do we sell? Does
the US sell to China? And why don't they just
make their own.

Speaker 1 (01:13):
I mean you're asking. You're asking the real questions you
should be asking. But I think that goes back to
the whole argument about a lot of the trade war
details of who imports what and who exports other things.

Speaker 2 (01:23):
That's right.

Speaker 1 (01:24):
I mean again, I just think of calculators. But I
guess this is all based on the trade war, not
about calculator demand. No, not about not at least not today.
But sentiment is definitely getting dang. Even though the S
and P five hundred.

Speaker 3 (01:37):
You have a calculator, I have people to do that
for me.

Speaker 2 (01:39):
Well I used to do.

Speaker 1 (01:40):
I would always use a Texas instrument calcula. Yeah, they
didn't have those S A T. What did you use?

Speaker 3 (01:48):
We heard you pull the handle on it?

Speaker 1 (01:55):
What else are you watching? Will you stick on the
on the trade that maybe caters to an older generation
gold ripping? So Newmont up right now up more than
six and a half percent tick or any best performer
on the SNB five hundred. Opposite side of that, when
people are getting anxious, they flock to precious metals, they
flocked to gold, they flock to commodities, So Newmont rallying

(02:18):
because of that. Also, the company did get an upgrade
from ubs hiking their price target to sixty bucks from
fifty to the stock right now treading at fifty four forty,
basically saying long run company has a way to go
to reestablish their track record and credibility. But basically gold
coas are rallying and the backdrop for Macro is better

(02:38):
for the companies.

Speaker 3 (02:39):
Are you going to like get a pick and a
shovel and go up to the Yukon at some point
debating it?

Speaker 1 (02:43):
You know, I'm from California, so maybe I should go
back to the West coast.

Speaker 3 (02:47):
Treat it like Sutter's Mill anywhere near there.

Speaker 1 (02:50):
I don't even know where that is. You're using geography, man,
you're exposing the sausade.

Speaker 3 (02:55):
Oh never mind, Emily, what's the next stock you're looking at?

Speaker 1 (02:58):
One of the underperformers in the banking space, Walls Fargo
right now down four percent ticker WFC. Big earning season
for banks, but obviously the big focus is on what
the future holds for these companies. The one thing that
did stand out though for Walls Fargo obviously a bit
different of a business relative to JP Morgan and Morgan Stanley,
they actually got digged by a number of analysts flagging

(03:20):
lower net interest income and non interest income, so basically
saying that those were the net interest income was lighter
in there no reserves built, according to HSBC analysts and others,
basically saying that weaker revenues were hitting the company. But again,
we are in such a macro market that these moves
can reverse pretty quickly.

Speaker 2 (03:41):
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