On this episode of Stock Movers:
- AT&T (T) shares are higher on news it will buy spectrum licenses from EchoStar for about $23 billion, adding an average of about 50 MHz of low-band and mid-band spectrum to AT&T’s holdings. Additions would cover virtually every US market, over 400 in total, positioning AT&T to maintain long-term leadership in advanced connectivity across 5G and fiber. Deal powers improved and capital-efficient long-term growth by accelerating AT&T’s ability to add converged subscribers with both 5G wireless and home internet services in more places.
- Advanced Micro Devices (AMD) and IBM (IBM) are jumping on news AMD plans to develop with IBM next-generation computing architectures based on the combination of quantum computers and high-performance computing, known as quantum-centric supercomputing.
- Interactive Brokers (IBKR) shares are higher on news it will be added to the S&P 500 index later this week, replacing Walgreens Boots Alliance Inc. on the closely watched gauge of US stocks. The changes will take place prior to the opening of trading on Aug. 28, according to a press release from S&P Dow Jones Indices.
- Boeing (BA) shares are higher as South Korean firms announced deals with US businesses, including $50 billion in agreements with Boeing Co. and GE Aerospace, after the nations' leaders met in Washington. The aviation sector is a key winner from the meeting, with Korean Air Lines Co. planning to order more than 100 Boeing Co. jets worth $36.2 billion and inking a $13.7 billion deal with GE Aerospace.
- Eli Lilly (LLY) is soaring this morning as its experimental obesity pill helped patients lose 9.6% of their body weight in a trial. Patients given the highest dose of the pill lost around 21 pounds and saw significant improvements in blood sugar levels, according to the company. The company is on track to file for regulatory approval by the end of the year, with Kenneth Custer, president of Lilly Cardiometabolic Health, saying "we're excited to get this potential medicine to patients as soon as possible".
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