On this episode of Stock Movers:
- Intel (INTC) is moving to the upside after President Trump said his Cabinet members would continue discussions with Lip-Bu Tan in the coming days after meeting with the Intel Corp. CEO at the White House. Intel said Tan and Trump discussed the company's "commitment to strengthening U.S. technology and manufacturing leadership" in a "candid and constructive" talk. Trump's remarks were a reversal from his earlier statement calling for Tan's resignation and accusing him of having conflicts of interest.
- Nvidia (NVDA) is lower on news China urged local companies to avoid using Nvidia Corp.'s H20 processors, particularly for government-related purposes, according to people familiar with the matter. The guidance from Chinese authorities does not constitute an outright ban on H20 use, but rather discourages companies from using the chips, especially for government or national security-related work.
- Apple (APPL) shares are lower this morning. It comes as the world's richest man Elon Musk accused Apple Inc. of favoring OpenAI, saying Apple makes it impossible for anyone other than OpenAI to reach the top of the App Store charts.
- Bigbear.ai (BBAI) shares are sliding massively after the software company reported revenue for the second quarter that missed the average analyst estimate.
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