Stock Movers

On this episode of Stock Movers:- Warner Bros. Discovery (WBD) shares slid after a report from the New York Post that Paramount Skydance could walk away from its $30-per-share cash bid and instead litigate against the company’s board for how it handled the process. - Sable Offshore (SOC) shares fell as much as 17% after the Environmental Defense Center and Center for Biological Diversity filed an emergency motion to halt the restart of a contested California oil pipeline. - Target (TGT) shares rose on Friday after the Financial Times reported that an activist investor built up a stake in the big-box retailer, citing people it didn’t identify. Toms Capital Investment Management has made a significant investment in Target, the FT said, without disclosing further details. Target shares jumped as much as 6.7% on Friday. The stock is headed for an annual decline of about 25% following a difficult year in which the company lost market share and sales slumped.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Nvidia (NVDA) agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. The world’s largest publicly traded company has paid for the right to use Groq’s technology and will integrate its chip design into future products. The deal was reported on after the end of the trading day on Christmas Eve. Shares of Nvidia rallied when trading resumed on Friday.- Shares of mining companies like Coeur (CDE) and Freeport (FCX) are higher in trading Friday as gold, silver and platinum jumped to all-time highs and copper surged to a record in Shanghai and rallied in New York. Spot gold rose as much as 1.2% to a peak above $4,530 an ounce on Friday. Spot silver for immediate delivery advanced for a fifth session, climbing as much as 5% to cross $75 an ounce.- Tesla (TSLA)'s ’s door handles are facing renewed scrutiny in the US after federal auto safety regulators opened a probe into the emergency releases in certain Model 3 vehicles. The National Highway Traffic Safety Administration said it’s evaluating claims that the mechanical door release “is hidden, unlabeled, and not intuitive to locate during an emergency,” according to a filing on the agency’s website. The move stems from a petition filed by Kevin Clouse, a Tesla owner in Georgia who says he was trapped in his vehicle in 2023 and requested a defect investigation. NHTSA said it hasn’t decided whether to grant or deny the petition. Shares of the Elon Musk-run EV maker fell in trading on Friday.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Shares of Nvidia (NVDA) edge higher in the premarket session as the company agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products.- Shares of Indian technology services provider Coforge Ltd. (COFORGE IN) declined ahead of the US market open after the company agreed to buy Encora at an enterprise value of $2.35 billion in an all-stock deal, adding artificial intelligence, data and product engineering expertise. Encora’s shareholders, including Advent International and Warburg Pincus, will get about 20% stake in Coforge through a share swap. Coforge will issue 93.8 million shares at 1,815.91 rupees each to shareholders of Encora at equity value of $1.89 billion. The deal is expected to close in six months.- Shares of Biohaven (BHVN) fell as much 14 percent in US premarket trading after a mid-stage study of the company’s experimental drug BHV-7000 for the treatment of major depressive disorder missed the primary endpoint. Trends favoring BHV-7000 were observed in some clinically relevant subgroups, including participants with more severe depression at screening and baseline, on primary and secondary outcome measures.See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:- Shares of Nvidia (NVDA) edge higher in the premarket session as the company takes agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. - Shares of Sidus Space (SIDU) rallied as much as 30 percent ahead of the US market open after the Cape Canaveral, Florida-based space and defense tech company announced plans to raise capital through a public offering of its Class A common stock and or pre-funded warrants.- Shares of Biohaven (BHVN) fell as much 14 percent in US premarket trading after a mid-stage study of the company’s experimental drug BHV-7000 for the treatment of major depressive disorder missed the primary endpoint. Trends favoring BHV-7000 were observed in some clinically relevant subgroups, including participants with more severe depression at screening and baseline, on primary and secondary outcome measures.See omnystudio.com/listener for privacy information.

- Nike (NKE) shares got a boost on Wednesday after a filing showed that Apple CEO Tim Cook purchased $2.95 million worth of shares on Dec. 22. Cook is Nike’s lead independent director and served as a director since 2005, according to the company’s website. The filing shows Cook purchased 50,000 Class B common stock at a weighted average price of $58.97.- Costco (COST) rose after receiving an upgrade for Christmas, as Northcoast Research analyst Charles Cerankosky raised the recommendation on wholesale giant to buy from neutral. His new price target of $1,100 implies a 29% increase from Tuesday's closing price. Investors who followed Cerankosky's recommendation received a 0% return in the past year, compared with a negative 9.5% return on the shares.- Dynavax (DVAX) popped after Sanofi agreed to buy the small biopharmaceutical firm for about $2.2 billion, as it seeks to expand a vaccines business currently anchored by its flu shot franchise. The French drugmaker will pay $15.50 a share in cash for Dynavax, 39% above the Emeryville, California-based firm’s closing price Tuesday. The statement on Wednesday came minutes after Sanofi said the US Food and Drug Administration had surprisingly rejected its experimental multiple sclerosis drug tolebrutinib.See omnystudio.com/listener for privacy information.