Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Amazon (AMZN) shares are moving on news it's in negotiations to acquire Decart AI, an artificial intelligence startup, in a deal that could be valued at around $7 billion, the Wall Street Journal reported.The purchase could be wrapped up soon if the negotiations don’t collapse, the Journal said, citing people familiar with the matter.
- T-Mobile (TMUS) shares are rising after Raymond James upgraded the stock to outperform from market perform, noting that the recent pullback in shares has created a buying opportunity. Analyst Frank Louthan says the “recent fears over SpaceX competition are overblown, as it is three-plus years from becoming a reality.”
- Sandisk (SNDK) is falling as investor worries rise on how memory and software stocks will be impacted by the AI trade.
- Stellantis (STLA) shares are moving after CEO Antonio Filosa says each of the company’s 14 brands have a unique role to play, making a Europe-US split of the company “not plausible at all,” he tells Caroline Connan at the Peugeot stand. Speculation on a possible split has been mounting in recent weeks due to the stock trading at all time lows. It also follows headlines the European Union will cap the import of Chinese hybrid vehicles at 350,000 cars per year, with the safeguard measure taking effect as soon as Dec. 1.