Corteva Falls, CoreWeave Jumps, Alphabet $3 Trillion Club, Tesla Surges
On this edition of Stock Movers:- Corteva (CTVA) shares fell today as Wall Street analysts find a potential breakup of the company’s seed and pesticide businesses negative for the firm. Bloomberg Intelligence says a breakup undermines “product and financial logic” while Bank of America says a separation would create two weaker entities.- CoreWeave shares jumped after the company said its shareholder Nvidia Corp. has agreed to buy cloud services valued at $6.3 billion, part of that company’s push to speed up the adoption of artificial intelligence across the economy. The deal, first announced in April 2023, runs through 2032 and requires Nvidia to buy any excess capacity not used by its customers, CoreWeave said in a regulatory filing on Monday. Nvidia said the agreement guarantees AI computing capacity will be in place when needed. “Industrywide demand for AI infrastructure continues to grow, yet building large-scale data-center capacity typically requires long lead times and four- to six-year customer commitments,” Nvidia said in an emailed statement. “To support startups and small to midsized companies, Nvidia and CoreWeave are proactively building data center infrastructure and provisioning data-center capacity to meet evolving capital needs.”- Google parent Alphabet (GOOGL) shares gained today after the search giant joined an elite group of companies valued at more than $3 trillion, the latest sign of improving investor sentiment toward the Google parent. Shares rose 4.5% to $251.61, resulting in a market capitalization of $3.04 trillion. The stock has soared more than 70% from its April low, adding roughly $1.2 trillion in value over that span. Alphabet joins a short list of companies valued at more than $3 trillion, with Nvidia Corp., Microsoft Corp. and Apple Inc. the only other publicly traded stocks above that level.- Tesla (TSLA) shares rallied today after Elon Musk responded to an unprecedented pay proposal from Tesla Inc.’s board by buying about $1 billion worth of shares, sending the carmaker’s stock soaring into positive territory for the year.The billionaire bought the shares indirectly through a revocable trust on Sept. 12, according to a regulatory filing released Monday. The purchase coincided with Tesla Chair Robyn Denholm speaking with reporters about the merits of awarding Musk around $1 trillion worth of stock if the company achieves a series of ambitious market value and performance milestones.See omnystudio.com/listener for privacy information.
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Closing Bell: Tesla Jumps, Alphabet Gains, Corteva Drops
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.- Tesla (TSLA) shares soared after Elon Musk responded to an unprecedented pay proposal from Tesla Inc.’s board by buying about $1 billion worth of shares. The billionaire bought the shares indirectly through a revocable trust on Sept. 12, according to a regulatory filing released Monday. The purchase coincided with Tesla Chair Robyn Denholm speaking with reporters about the merits of awarding Musk around $1 trillion worth of stock if the company achieves a series of ambitious market value and performance milestones.- Shares of Google parent Alphabet (GOOGL) popped today after the search giant on Monday joined an elite group of companies valued at more than $3 trillion, the latest sign of improving investor sentiment toward the Google parent. Shares rose as much as 4.8% to $252.41, resulting in a market capitalization of just over $3 trillion. The stock has soared more than 70% from its April low, adding roughly $1.2 trillion in value over that span. Alphabet joins a short list of companies valued at more than $3 trillion, with Nvidia Corp., Microsoft Corp. and Apple Inc. the only other publicly traded stocks above that level.- Corteva (CTVA) shares fell today as Wall Street analysts find a potential breakup of the company’s seed and pesticide businesses negative for the firm. Bloomberg Intelligence says a breakup undermines “product and financial logic” while Bank of America says a separation would create two weaker entities.See omnystudio.com/listener for privacy information.
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Alphabet Pops, Global X Uranium Up Big, CoreWeave Rallies
On this edition of Stock Movers:- Google parent Alphabet (GOOGL) shares popped today after the search giant on Monday joined an elite group of companies valued at more than $3 trillion, the latest sign of improving investor sentiment toward the Google parent. Shares rose as much as 4.8% to $252.41, resulting in a market capitalization of just over $3 trillion. The stock has soared more than 70% from its April low, adding roughly $1.2 trillion in value over that span. Alphabet joins a short list of companies valued at more than $3 trillion, with Nvidia Corp., Microsoft Corp. and Apple Inc. the only other publicly traded stocks above that level.- Global X Uranium ETF (URA) rallied today after the Trump administration’s top energy official said the US should look to boost its strategic uranium reserve to buffer against Russian supplies and increase confidence in the long-term prospects of nuclear power generation. US Energy Secretary Chris Wright comments underscore the Trump administration’s plans to promote nuclear energy as the demand for power soars with the electrification of the economy. Russia supplies about a quarter of the enriched uranium needed by America’s fleet 94 nuclear reactors, which generate about a fifth of US electricity. Turning the tap off too quickly from that source could endanger about 5% of electricity in the absence of alternative suppliers or additional stockpiles. “We’re moving to a place — and we’re not there yet — to no longer use Russian enriched uranium,” Wright said Monday in Vienna, where he’s attending the IAEA’s annual general conference.- CoreWeave (CRWV) shares jumped today after the company said its shareholder Nvidia Corp. has agreed to buy cloud services valued at $6.3 billion, part of that company’s push to speed up the adoption of artificial intelligence across the economy. The deal, first announced in April 2023, runs through 2032 and requires Nvidia to buy any excess capacity not used by its customers, CoreWeave said in a regulatory filing on Monday. Nvidia said the agreement guarantees AI computing capacity will be in place when needed. “Industrywide demand for AI infrastructure continues to grow, yet building large-scale data-center capacity typically requires long lead times and four- to six-year customer commitments,” Nvidia said in an emailed statement. “To support startups and small to midsized companies, Nvidia and CoreWeave are proactively building data center infrastructure and provisioning data-center capacity to meet evolving capital needs.”See omnystudio.com/listener for privacy information.
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Seagate, Western Digital, Corteva
On this episode of Stock Movers:Seagate (STX; +7%) -- computer hardware company Trading volume rises to more than quadruple its 20-day average, according to Bloomberg data Price target increased to $215 from $170 at Bank of America End-August: Bloomberg Intelligence sees 16% sales growth for fiscal 2026, citing favorable cloud dynamics due to new data-center deployments, as well as AI catalysts Western Digital (WDC; +5%) -- digital content collection and storage Up 10 days, longest winning streak since July 2019 trading volume doubles fromt he 20-day average for this time of day Price target raised to $115 from $85 at Benchmark Last week: Bloomberg Intelligence sees 17% sales growth in fiscal 2026, and margin expansion may spur EPS about 2% above consensus; long-term pacts give the company at least a year of sales visibility Corteva (CTVA; -4%) -- $50 billion agribusiness giant formed after the 2017 merger of Dow Chemical and DuPont; among the world’s largest suppliers of genetically modified corn and soybean seeds, as well as pesticides The Wall Street Journal reported on Friday that it's considering separating its seed and pesticide businesses Bloomberg Intelligence: a split “would undermine product and financial logic” because that would take it further away from the "farming-as-a-service" model that a lot of its competitors are espousing See omnystudio.com/listener for privacy information.
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Nvidia, Tesla and Intel
On this episode of Stock Movers:- Nvidia (NVDA) shares are lower after China ruled the company violated anti-monopoly laws with its 2020 deal to acquire Mellanox Technologies. The State Administration for Market Regulation found Nvidia in violation of antitrust regulations after concluding a preliminary investigation.- Tesla (TSLA) shares are higher after CEO Elon Musk purchased about $1 billion worth of the carmaker’s shares, according to a regulatory filing. The billionaire bought the stock indirectly through a trust on Sept. 12, the filing shows. The purchases coincided with Tesla Chair Robyn Denholm speaking with Bloomberg News about the merits of a pay package for Musk that could be worth upwards of $1 trillion if the company achieves a series of ambitious milestones linked to market value and performance.- Intel (INTC) lowered its 2025 expense target following the closing of its $3.3b equity value sale of its Altera stake to Silver Lake.See omnystudio.com/listener for privacy information.
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