On this episode of Stock Movers:
- IBM (IBM) shares jumped after the company announced it will integrate Anthropic’s Claude family of LLM’s into its software portfolio, in a newly announced strategic partnership. The partnership integrates Claude into select internal and external development tools and enterprise products and aims to deliver new productivity gains for IBM clients according to a statement.
- Advanced Micro Devices (AMD) shares are higher, set to extend Monday’s 24% rally, as Jefferies upgrades to buy from hold following the chipmaker’s deal with OpenAI. Analyst Blayne Curtis said “AMD will still have to hit milestones, but this is a strong validation of AMD’s AI roadmap and the level of AI demand in general.”
- Trilogy Metals (TMQ) jumped over %200 in premarket trading on Tuesday as the White House said US will take a 10% stake in the company. BMO analyst Rene Cartier says “The binding letter of intent with the US Department of War highlights a significant milestone in the advancement of exploration and development of the Upper Kobuk Mineral Projects.”
- Intercontinental Exchange (ICE) shares are higher after the Wall Street Journal reported that the New York Stock Exchange owner is in talks to invest $2 billion in Polymarket. The deal, which could come as soon as Tuesday, could value Polymarket between $8 billion and $10 billion, the Journal reported citing, people familiar with the matter
- Constellations Brands (STZ) is rising after it reported better-than-expected results for its fiscal second quarter, citing robust beer and wine sales. The company's beer division is outperforming the industry, with success of its recently launched Corona Sunbrew Citrus Cerveza variety. Shares of Constellation Brands rose in premarket trading despite the stock having fallen 37% this year.
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