On this episode of Stock Movers:
- Taiwan Semiconductor Manufacturing Co. (TSMC) shares are higher this morning as the main chipmaker for Nvidia Corp. and Apple Inc., reported a 40% jump in May revenue after companies stockpiled chips in response to mounting trade uncertainty. The company's CEO last week reaffirmed the company’s guidance for sales to grow in the mid-20% range in US dollar terms in 2025. AI chip demand still outstrips supply, he told shareholders.
- Meta (META) shares are moving on news that CEO Mark Zuckerberg is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who've met with him at his homes in Lake Tahoe and Palo Alto. Zuckerberg aims to hire around 50 people for the new team, including a new head of AI research, and has rearranged desks at Meta's Menlo Park headquarters so the new staff will sit near him. Zuckerberg is building the team in tandem with a planned multi-billion dollar investment in Scale AI, which offers data services to help companies train their models and builds custom AI applications for businesses and governments.
- McDonald's (MCD) is lower on a downgrade this morning after Redburn downgrades the restaurant chain to sell from buy, saying weight-loss drugs are suppressing consumer appetites and presenting an under-appreciated longer-term threat. Redburn becomes the only broker that rates McDonald’s as sell among the 41 Wall Street analysts tracked by Bloomberg,.
- Uber (UBER) shares are climbing this morning as the ride sharing app and Wayve plan to run their first trial of fully autonomous vehicles in London, paving the way for commercial robotaxi services in the UK and beyond. The companies will collaborate with the UK government and Transport for London on the permitting and regulatory approval process prior to the launch of Level 4 fully autonomous vehicles. The UK will be the first market to host a pilot under the partnership Uber and Wayve struck last August, with the trial expected to begin in the spring of 2026.
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