Finance
Stocks making the biggest moves midday: SMCI, TSLA, COIN, PLNT
Published
6 months agoon

Check out the companies making headlines in midday trading. Donald Trump trades — Individual stocks viewed as trades tied to Donald Trump’s election odds surged as the Republican clinched a return to the White House. Trump Media & Technology , majority owned by Trump himself, popped nearly 5%. Tesla , whose CEO publicly backed the President-elect, surged more than 14% . Phunware , the company behind the campaign’s app, climbed 5%. Crypto stocks — Cryptocurrency-related names soared after investors bet that a Trump presidency would lead to a more supportive regulatory environment. Shares of Coinbase surged 28% and MicroStrategy rose about 12%, as bitcoin rallied to a new record high . Bank stocks — Big banks rallied broadly on the back of Trump’s victory in the presidential election. Investors forecast that his presidency will lead to looser regulation and allow more mergers and acquisitions across the sector. Citigroup and Bank of America climbed more than 9% and 8% each. Goldman Sachs and Wells Fargo jumped 12% and 14%, respectively. CVS Health — The pharmacy retailer soared 10% after CVS posted third-quarter revenue of $95.43 billion , which surpassed consensus estimates of $92.75 billion, per LSEG. On the other hand, CVS’ adjusted earnings of $1.09 per share fell short of the $1.51 per share analysts anticipated. Clean energy — Clean energy stocks sank as investors bet that a Trump presidency could lead to an overhaul of recent industry reforms and progress, including a repeal of President Joe Biden’s Inflation Reduction Act. Plug Power shed more than 23% and Sunrun lost nearly 29%. SolarEdge Technologies lost about 20%. Enphase Energy was last down around 17%. Novo Nordisk — U.S.-listed shares of the Danish pharmaceuticals firm slipped 3%. Novo Nordisk reported that its third-quarter net profit came in above analyst estimates . Sales of its weight-loss drug Wegovy were also 79% higher in the third-quarter of 2024 than the same period a year earlier. Private prison stocks — Geo Group and CoreCivic popped 39% and 29%, respectively after Trump, who has promised a mass deportation of illegal immigrants, won the White House. Cannabis stocks — Shares of cannabis companies dropped after voters rejected a Florida ballot measure to legalize the sale and use of marijuana in the state. Tilray sank 14%, while U.S.-listed shares of Canada-based companies Aurora Cannabis and Canopy Growth lost 18% and 23%, respectively. Super Micro Computer — Shares plunged 24% after the embattled computer server maker guided for revenue in its December quarter between $5.5 billion and $6.1 billion , missing analysts’ expectations. Super Micro’s adjusted earnings per share outlook also fell short of the Street’s forecast. The company is unsure when it will file annual results for the latest fiscal year but said it was “working with urgency to become current again” with its financial reporting. Retail stocks — Retail stores with China sourcing exposure slipped on Wednesday following Trump’s reelection. Trump’s proposed universal tariffs could lead to soaring import prices. On the back of these tariff fears, Bank of America downgraded Five Below to underperform from neutral and Yeti to a neutral rating from buy. Shares of Five Below and Yeti both tumbled about 7% and 9%, respectively. Dollar Tree and Dollar General also respectively lost roughly 9% and 5%. Planet Fitness — Shares popped about 6% after CNBC, citing court filings, reported the fitness chain wants to acquire bankrupt budget-fitness chain Blink Holdings. Steel stocks — U.S.-based steel stocks rallied on the back of Trump’s victory. He has floated tariffs that would ultimately benefit U.S. steel pricing. Shares of Nucor and Cleveland-Cliffs respectively rallied 16% and 21%, while United States Steel climbed 10%. — CNBC’s Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min and Samantha Subin contributed reporting.
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Finance
These are 3 big things we’re watching in the stock market this week
Published
1 hour agoon
April 27, 2025
A security guard works outside the New York Stock Exchange (NYSE) before the Federal Reserve announcement in New York City, U.S., September 18, 2024.
Andrew Kelly | Reuters
The stock market bounce last week showed once again just how dependent Wall Street has become on the whims of the White House.

U.S. brands are rapidly losing their appeal in China as locals increasingly prefer competitive homegrown players, especially as economic growth slows, according to a TD Cowen survey released Thursday. While overall preference for Western brands dropped to 9%, down from 14% last year, certain American companies face higher risks than others, the report said, citing in-person interviews of 2,000 consumers with varied income levels in larger Chinese cities. TD Cowen partnered with an unnamed Beijing-based advisory firm to conduct the survey in February 2025, following a similar study in May 2024. The analysts see Apple ranking among the better-positioned brands in China. But they warned that several other American companies face high regional risks despite management optimism. China’s top leaders on Friday acknowledged the growing effect of trade tensions, and pledged targeted measures for struggling businesses. The official readout stopped short of a full-on stimulus announcement. “This year’s survey was conducted before the US-China trade war intensified, though threats were on the horizon,” the TD Cowen analysts said. “Add this factor to the equation, and it’s easy to see why uncertainty will remain elevated and households are likely to remain cautious going forward.” The survey found income expectations declined, with the share of respondents expecting a decline in pay over the next 12 months rising to 10% from 6%. In particular, Chinese consumers plan to spend less on a beauty items over the next six months, the survey showed, while increasing their preference for Chinese brands. U.S. cosmetics giant Estée Lauder retained first place in terms of highest awareness among Western beauty brands in China, but preference among consumers dropped to 19.6% of respondents, down from 24.3% last year. That contrasted with increases in respondents expressing a preference for the second and third market players Lancome and Chanel, respectively. In the quarter that ended Dec. 31, Estée Lauder said its Asia Pacific net sales fell 11%, due partly to “subdued consumer sentiment in mainland China, Korea and Hong Kong.” Asia Pacific accounted for 32% of overall sales in the quarter. In the lucrative sportswear category, Nike “lost meaningful preference in every category” versus last year, while local competitors Li-Ning and Anta saw gains, the survey found. TD Cowen’s analysis showed that among U.S. sportswear brands facing the most earnings risk relative to consensus expectations, Nike has the highest China sales exposure at 15%. “The China market is one characterized as a growth opportunity for sport according to Nike management in its recent fiscal Q3:25 earnings call in March 2025,” the analysts said, “but that the macro offers an increasingly challenging operating environment.” It’s not necessarily about slower growth or nationalism. While the survey found a 4-percentage-point drop in preference for foreign apparel and footwear brands, it also showed a 3-percentage-point increase in the inclination to buy the “best” product regardless of origin. “The implied perception here is that Western brands are offering less in the way of best product or value,” the TD Cowen analysts said. Starbucks similarly is running into fierce local competition while trying to maintain prices one-third or more above that of competitor Luckin Coffee, the report said. The survey found that the U.S. coffee giant “lags peers in terms of value and quality perception improvement.” Other coffee brands such as Manner, Tim’s, Cotti, %Arabica and M Stand have also expanded recently in China. Starbucks’ same-store sales in China fell 6% year on year in the quarter that ended Dec. 29, bringing the region’s share of total revenue to just under 8%. More worrisome is that a highly anticipated coffee boom in China may not materialize. “We note daily and weekly frequency of purchase among coffee drinkers are decreasing, suggesting the coffee habit seen in the U.S. is not taking hold in China,” the analysts said. They noted a new ownership structure for Starbucks‘ China business would be positive for the stock given the lack of near-term catalysts. TD Cowen rates Starbucks a buy, but has hold ratings on Nike and Estée Lauder.
Finance
Apple iPhone assembly in India won’t cushion China tariffs: Moffett
Published
1 day agoon
April 26, 2025

Leading analyst Craig Moffett suggests any plans to move U.S. iPhone assembly to India is unrealistic.
Moffett, ranked as a top analyst multiple times by Institutional Investor, sent a memo to clients on Friday after the Financial Times reported Apple was aiming to shift production toward India from China by the end of next year.
He’s questioning how a move could bring down costs tied to tariffs because the iPhone components would still be made in China.
“You have a tremendous menu of problems created by tariffs, and moving to India doesn’t solve all the problems. Now granted, it helps to some degree,” the MoffettNathanson partner and senior managing director told CNBC’s “Fast Money” on Friday. “I would question how that’s going to work.”
Moffett contends it’s not so easy to diversify to India — telling clients Apple’s supply chain would still be anchored in China and would likely face resistance.
“The bottom line is a global trade war is a two-front battle, impacting costs and sales. Moving assembly to India might (and we emphasize might) help with the former. The latter may ultimately be the bigger issue,” he wrote to clients.
Moffett cut his Apple price target on Monday to $141 from $184 a share. It implies a 33% drop from Friday’s close. The price target is also the Street low, according to FactSet.
“I don’t think of myself as the biggest Apple bear,” he said. “I think quite highly of Apple. My concern about Apple has been the valuation more than the company.”
Moffett has had a “sell” rating on Apple since Jan. 7. Since then, the company’s shares are down about 14%.
“None of this is because Apple is a bad company. They still have a great balance sheet [and] a great consumer franchise,” he said. “It’s just the reality of there are no good answers when you are a product company, and your products are going to be significantly tariffed, and you’re heading into a market that is likely to have at least some deceleration in consumer demand because of the macro economy.”
Moffett notes Apple also isn’t getting help from its carriers to cushion the blow of tariffs.
“You also have the demand destruction that’s created by potentially higher prices. Remember, you had AT&T, Verizon and T. Mobile all this week come out and say we’re not going to underwrite the additional cost of tariff [on] handsets,” he added. “The consumer is going to have to pay for that. So, you’re going to have some demand destruction that’s going to show up in even longer holding periods and slower upgrade rates — all of which probably trims estimates next year’s consensus.”
According to Moffett, the backlash against Apple in China over U.S. tariffs will also hurt iPhone sales.
“It’s a very real problem,” Moffett said. “Volumes are really going to the Huaweis and the Vivos and the local competitors in China rather than to Apple.”
Apple stock is coming off a winning week — up more than 6%. It comes ahead of the iPhone maker’s quarterly earnings report due next Thursday after the market close.
To get more personalized investment strategies, join us for our next “Fast Money” Live event on Thursday, June 5, at the Nasdaq in Times Square.

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