On this episode of Stock Movers:
- American Eagle (AEO) shares surged after US President Donald Trump came out in support of a controversial ad from the company. The spot, with the actress Sydney Sweeney, is the “HOTTEST ad out there,” Trump said in a social media post. He added American Eagle jeans are “flying off the shelves.” Trump deleted an earlier post, in which the actress’ first name was misspelled The stock jumped as much as 18%, the biggest gain intraday since May 12. Through last week’s close, the shares had declined 36% this year. The apparel retailer launched an ad blitz in July with the tagline “Sydney Sweeney Has Great Jeans.” One of the campaign’s videos plays on the same-sounding word “genes” as Sweeney zips up her jeans and intones that “genes are passed down from parents to offspring often determining traits like hair color, personality and even eye color.” “My jeans are blue,” she adds, flashing her blue eyes at the camera.
- Joby Aviation (JOBY) said it plans to buy the helicopter rideshare business of Blade Air Mobility Inc. for as much as $125 million in stock or cash as the electric aviation firm seeks to expand its battery-powered air taxis into a ready-made market for its aircraft. The acquisition encompasses all of Blade’s passenger business, including operations in the US and Europe, as well as the Blade brand, Joby said in a statement, confirming an earlier report by Bloomberg. Blade’s medical division will remain a public company and rebrand, while partnering with Joby on medical transportation. Shares of Joby rose higher on the news.
- Opendoor (OPEN) are rallying after the digital real estate firm regained compliance with the Nasdaq exchange. Opendoor said on Friday it received written notice from the Nasdaq Stock Market the the firm “has regained compliance with Nasdaq’s minimum bid price requirement”.
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