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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Taking a look at some stocks on move right now, let's bring in Tatiana Darier, who's got more of those? Tatiana, You're starting with the big mover here among the mag seven.
Exactly Scarlett. Tesla shares up about six percent today. That is a market cap change of about eighty five billion dollars after Elon Musk has purchased about one billion dollars worth of Tesla shares as a Friday per An SEC filing.
While that purchase coincided with the Tesla board chair speaking with reporters about the merits of awarding Mosk about one trillion dollars worth of stock if the company achieves some ambitious milestones, and in an interview on Friday, she insists that no other than Elon Musk is capable of leading
the company's transition into AI and robotics. Curiously, she said it's not necessarily that he'll do it from the CEO seed he could be moving into another leadership post, such as Chief Product Officer, where well, the market seemed to be kind of overlooking these details, and with today's rally on top of the momentum from last week, wiping out the stocks year today, laws shares now hire by four percent year today, catching up to some of those magnifics in seven.
Peers, Wow, what about another magnificent seven and Video.
And Vidia, Well, this company is a lower. Today's shares of down by about one percent after China said his preliminary probe found that Nvidia violated an anti monopoly law with his acquisition of Melanox Technologies. So, I mean, this
story just keeps showing us done. Nvidia really keeps taking heat from the Chinese here as the US China trade dooks continue in Madrid, and as the yours government has settled for that fifteen percent commission on China sales already, Treasury Secretary Besson said that officials discuss the poor timing of this announcement, and you know, foreign VideA investors are just going to have to grasp to what this means for the company in the longer run, because remember they
have not been able to resume those sales in China after they initially were banned. Than they were able to get permits, but for a cost. But at the same time, the Chinese has already have already pushed their local companies to avoid Nvidia products, so it's very interesting to see how that will play out for their Chinese outlook. Well. With the stocks up more than thirty percent here today, the stakes are suddenly high here.
They have been for a while, and you're looking at another chip maker, Intel. It's fortunes, of course, moving in a different direction than in videos.
In different direction. This morning as well, the shares are up of four percent. Ticker is I and TC. They lowered their twenty twenty five expence target following the closing of their Altura equity stake to silver Lake, and now they're saying that three quarter results will reflect that they trimmed their operating expense target to sixteen point eight billion from seventeen billion. Also reiter rated their twenty six target.
And this is an important announcement just because the traders are so focused on expenses for this company as the new CEO is trying to stable as the company turn the ship around sharpen his competitive position in the AI race. So this news today adds to its momentum stock hire by about by more than twenty percent this year, so this will only add to those games.
The 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.