On this episode of Stock Movers:
- Nvidia (NVDA) is higher this morning after the Trump administration cleared a path for Saudi Arabia and the United Arab Emirates to pursue their artificial intelligence ambitions, with US tech companies like Nvidia and AMD planning to spend billions of dollars in the region.
- UnitedHealth Group (UNH) is up this morning, reversing yesterday's significant downswing. It's seeing a rebound after news the company replaced its CEO, Andrew Witty, with former CEO Stephen Hemsley, and suspended earnings guidance, citing unexpected medical costs and challenges with its Medicare strategy.
- Super Micro Computer (SMCI) is on the upswing this morning following Tuesday's 16% rally, after Saudi Arabia-based data center company DataVolt signs a multi-year partnership agreement with the beleaguered US chipmaker.
- Burberry (BURBY) shares jumped as much as 16% after the British luxury group’s fourth-quarter retail sales beat estimates, sparking hopes among analysts that its strategic plan could bear fruit and the company is seeing the early signs of a turnaround. Burberry also plans to cut almost a fifth of its workforce, affecting up to 1,700 roles, to achieve an additional £60 million of savings in the next two years.
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