On this episode of Stock Movers:
- Micron (MU), he largest US maker of computer memory chips, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment. Fiscal first-quarter revenue will be roughly $12.5 billion, the company said in a statement Tuesday. Analysts had estimated $11.9 billion on average. Excluding some items, profit will be about $3.75 a share, compared with a projection of $3.05. The outlook validates the idea that Micron has become a key beneficiary of AI spending. Its high-bandwidth memory, or HBM, is critical to the chips and systems that develop artificial intelligence models. That’s turned the technology into a particularly lucrative product for the Boise, Idaho-based company.
- Boeing (BA) shares rose after it announced it would partner with Palantir to integrate artificial intelligence on current and future defense programs and in its factories. The US planemaker’s defense unit will deploy Palantir’s Foundry platform to standardize data analytics and insights across its factories that produce fighter jets, helicopters, missiles and satellites, the two companies said in a statement on Tuesday. Palantir will also provide Boeing with AI expertise on a “number of undisclosed classified and proprietary efforts focused on supporting military customers’ most sensitive missions,” according to the statement. Shares in Boeing rose 2% and closed at $216.34 in regular trading on Sept. 23.
- Kenvue (KVUE) rallied from a record low as President Donald Trump’s call for pregnant women to avoid Tylenol drew sharp criticism from researchers. In its quest to remake the US health-care system, the Trump administration continues to put out information and guidance that contradicts that of medical organizations, doctors, scientists and state health departments. In addition to Tylenol, there has been conflicting messaging on a host of vaccines, anti-depressants and whether ingredients in shots are safe. It’s confusing patients and forcing doctors to be on the front lines of allaying their concerns.
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