On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Alix Steel, Carol Massar and Tim Stenovec.
- AMD (AMD) shares jumps as much as 10% amid a broad rally in semiconductor stocks as Piper Sandler said products unveiled last week were positive and expects a "snapback" for the GPU business this year.
- Warner Bros. (WBD) shares rose on the word it won enough support from creditors to overhaul its debt as part of a plan to split into two separate companies, a significant victory for the entertainment giant as it tries to turn itself around. The company said last week that it’s dividing into two separate corporations, one focusing on streaming and movie studios, and the other on cable television channels. As part of that division, it said it’s looking to buy back some $14.6 billion of bonds, and to switch the terms on remaining debt to give it more flexibility to shift around assets in the future, among other changes.
- Lockheed Martin (LMT) shares slumped on the day after a report that its F-35 planes wouldn't be included in a rare earths deal between the US and China. After the closing bell, the defense firm named Craig Martell its new chief technology officer.
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