Apple Stock Surges, Eli Lilly Rallies, NRG Energy Jumps
On this episode of Stock Movers:- Apple (APPL) shares are up. This comes after President Donald Trump said he spoke with Apple Inc. Chief Executive Officer Tim Cook earlier on Monday, just as the iPhone maker was reported to be considering price increases later this year. Apple is weighing whether to raise prices for an iPhone lineup coming in the fall, the Wall Street Journal reported, citing people familiar with the matter whom it didn’t identify. The company is exploring whether to “couple” price increases with new features and designs, while trying to avoid the perception that any hikes are tied to US tariffs, the Journal reported. Apple didn’t respond to Bloomberg’s request for comment.- Eli Lilly (LLY) are up in after hours trading. Earlier today, President Donald Trump said he plans to slash drug prices for Americans by more closely aligning their costs to lower prices paid abroad, renewing and expanding upon a failed push from his first term. Trump aims to do so by bringing drugmakers to the negotiating table. He signed an executive order Monday asking them to lower prices voluntarily or else face regulatory measures. The President, however, said Eli Lilly is not going to be tariffed because the pharmaceutical company is building in the US. - NRG Energy (NRG) shares are up after the company agreed to acquire a fleet of natural gas-fired power plants from LS Power Equity Advisors LLC for about $12 billion including debt, betting the fuel will be crucial to meet electricity demand from data centers. The cash-and-stock deal calls for NRG to buy 18 gas-fired facilities from LS with a combined capacity of about 13 gigawatts, the companies said Monday in a statement. That’s enough to power about 10.4 million homes.See omnystudio.com/listener for privacy information.
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, Alix Steel, Scarlet Fu, Carol Massar and Matt Miller. - NRG Energy (NRG) shares soared 25%, the most intraday since 2017 to a record high, as Wall Street praised its deal that Jefferies says is “transforming” the company and doubling its power generation capacity, while the power producer also reported better-than-expected adjusted Ebitda for the first quarter. - Apple (AAPL) shares rose after US President Donald Trump said he spoke with CEO Tim Cook earlier on Monday, just as the iPhone maker was reported to be considering price increases later this year. Apple is weighing whether to raise prices for an iPhone lineup coming in the fall, the Wall Street Journal reported, citing people familiar with the matter whom it didn’t identify. The company is exploring whether to “couple” price increases with new features and designs, while trying to avoid the perception that any hikes are tied to US tariffs, the Journal reported. Apple didn’t respond to Bloomberg’s request for comment. - CVS (CVS) shares, along with other major US health-care companies that own pharmacy-benefit management units closed lower after President Donald Trump proposed a plan to “cut out” the drug-industry middlemen as a way to reduce drug costs. Trump aims to do so by bringing drugmakers to the negotiating table. He signed an executive order today asking them to lower prices voluntarily or else face regulatory measures. Pharmaceutical companies had expected — and feared — action on drug prices. However, the order was far weaker than they’d anticipated. Shares of major drugmakers initially fell after Trump teased drug-price action on social media Sunday night, then rose as details on the order emerged throughout Monday morning.See omnystudio.com/listener for privacy information.
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5:26
Carnival Refinances More Debt, NRG Energy Deal, Cigna Drops
On this episode of Stock Movers:- Carnival Corp. (CCL) shares are up. The company is issuing bonds for the third time this year, as the cruise operator chips away at a debt load that had ballooned during the Covid-19 pandemic. Monday’s $1 billion offering of senior unsecured notes will be used to refinance 7.625% notes maturing next year, according to a person familiar with the matter. Pricing for the new notes is being discussed in the 5.875% to 6% range, the person said.- NRG Energy (NRG) shares hit an all time high as the company agreed to acquire a fleet of natural gas-fired power plants from LS Power Equity Advisors LLC for about $12 billion including debt, betting the fuel will be crucial to meet electricity demand from data centers. The cash-and-stock deal calls for NRG to buy 18 gas-fired facilities from LS with a combined capacity of about 13 gigawatts, the companies said Monday in a statement. That’s enough to power about 10.4 million homes.- Cigna (CI) and other US health-care companies that own pharmacy-benefit management units are trading lower on Monday after President Donald Trump proposed a plan to “cut out” the drug-industry middlemen as a way to reduce drug costs. Meantime, House Republicans are reviving measures that would primarily prohibit “spread pricing” in the Medicaid safety net program -- where pharmacy benefit managers profit by paying pharmacies less than what they charge state Medicaid plans for a medication.See omnystudio.com/listener for privacy information.
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5:32
Pfizer Rises, Best Buy Surges, Nike Up After US China Trade Talks
On this episode of Stock Movers:-Pfizer shares rise after President Donald Trump said he plans to order cuts to prescription drug costs to bring them in line with other countries.White House officials speaking this morning did say weight loss drugs and medicare will be an area of focus for action. -Best Buy shares rise after being a key beneficiary of weekend US-China talks Bloomberg Intelligence analysts estimates that retailers entered the year holding 1% less inventory than they had over the past three years, so the drop off in Chinese shipments would have had significant impact. -Nike shares rise. The company is another key beneficiary of the US-China talks -- half of all Nike brand shoes are made in Vietnam, but overall trade optimism is helping.Last week, the company announced changes to its senior leadership team and divided its Consumer, Product, and Brand leadership will now be divided into three distinct areas.See omnystudio.com/listener for privacy information.
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3:20
Nvidia and Mag 7 Jump; Consumer and Shipping Stocks Rise
On this episode of Stock Movers:- Nvidia (NVDA) is higher this morning following the US-China trade announcement. The biggest US chipmaker along with other chipmakers are rising on the news due to heavy exposure to Asian markets. Other Mag 7 stocks are also jumping on the news.- Delta (DAL) shares popped this morning as travel stocks react to easing global trade tensions and lessening odds of a recession. It also comes after Delta and Korean Air agreed last week to buy a stake in WestJet amid uncertain US relations with Canada.- Nike (NKE) is up along with other consumer stocks after the US-China trade truce announcement. Consumer firms with large China exposure rally, including Nike, Starbucks, Amazon, and Wayfair among others are rising on the news.- Maersk (AMKBY) shares also increased today as shipping and transportation stocks move higher as ports can expect more trade and consumer activity.See omnystudio.com/listener for privacy information.
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