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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel on another morning where stocks as a whole are kind of treading water, and another morning where Intel is catching a bid the most actively traded stock. Once again, this morning, the positive headlines keep coming. Valory, Good morning, Gay, Good morning, Nathan.
There's actually two positive reports on Intel this morning. The shares are up four percent in pre market. The first report has to do with something broad the Wall Street Journal reporting that the Trump administration is looking to limit chip imports. Now, the way that they're reporting that Trump is looking at this is kind of a one for one system. For every domestically produced chip that you sell in the US, you can import one chip from abroad.
So this is really shown to be benefiting glow foundries in the US at the moment.
So that's Intel.
They do founderies, big foundaries in the US and also global foundaries. That stock is up ten percent now. On another note to separate Wall Street Journal report that Intel has contacted TSMC about a potential partnership.
Now, this comes a day after.
Bloomberg reported that Intel is also seeking an investment from Apple. So it does seem like Intel is talking to a lot of these high power players about potentially having a partnership or a tie up or an investment, and that is spooking a further positivity in the stock this morning.
Along with the positivity for Intel, the big market news this morning is the big round of tariffs that President Trump announced and it's impacting multiple sectors this morning.
Yeah, let's start with the pharma sector.
He announced one hundred percent tariffs on imports of patented drugs, with the big caveat being that there will be exemptions if construction has started on a US manufacturing base. There are a lot of things that are unclear about the details, Nathan, but the market is clearly taking this as a positive for Eli Lilly up almost two percent, and a negative from nov Nordisk over in Copenhagen, those shares are down
one point four percent. Now, both of these pharma companies are involved in the highly lucrative obesity weight loss drugs.
Both these companies actually do manufacture those.
Weight loss drugs abroad, but Eli Lilly has more of a manufacturing base in US and is seen maybe to get a leg up on the recent round of tariffs.
Of course, we've also got tariffs announced on furniture as well as heavy trucks. How's that impacting in the micro look?
So let's look at a pulstered furniture.
He announced a thirty percent tariff on imports of upholstered furniture starting next Wednesday, and we're seeing Wayfair fall around three and a half percent. Now, Wayfair has a model that is heavily dependent on imports, but we're also seeing the likes of restoration hardware down over four percent. Even Williamson, who owns pottery Barn Nathan, those shares are down two point six. There do seem to be a lot of losers after this announcement on the tariff for impulstered furniture.
But moving on to heavy trucks, we're seeing the likes of Pacar, this is a domestic manufacturer of heavy trucks, up nearly six percent in pre market. This comes after Trump announced a twenty five percent tariff on the sector. Now compare that to what's going on here. Over in Germany, we saw the likes of Daimler trucks fall around three percent, so a lot of winners and losers based on this announcement from the White House.
This stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.