Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Ford (F) stock surged Wednesday after Morgan Stanley issued a bullish call that the automaker’s energy storage business could soon make a deal with hyperscalers. Shares climbed as much as 15% by 2:25 p.m. in New York, putting the stock on track for the biggest one-day gain since March 2020, and helping it turn positive for the year.
- ON Semi (ON) gained as part of a broader rally in chipmakers as supply for global memory chips, key to AI infrastructure build-outs, tightens further. This also comes ahead of Nvidia CEO Jensen Huang joining President Trump on his visit to China - giving the sector a further boost.
- Birkenstock (BIRK) shares traded lower after the footwear maker reported revenue and operating profit for the second quarter that missed consensus estimates. The war in the Middle East negatively impacted EMEA revenue by about €6 million and caused an estimated 300 basis-point headwind to the region’s growth in the quarter, the company said.