On this episode of Stock Movers:
- Intel (INTC) is moving to the upside after President Trump said his Cabinet members would continue discussions with Lip-Bu Tan in the coming days after meeting with the Intel Corp. CEO at the White House. Intel said Tan and Trump discussed the company's "commitment to strengthening U.S. technology and manufacturing leadership" in a "candid and constructive" talk. Trump's remarks were a reversal from his earlier statement calling for Tan's resignation and accusing him of having conflicts of interest.
- Nvidia (NVDA) is lower on news China urged local companies to avoid using Nvidia Corp.'s H20 processors, particularly for government-related purposes, according to people familiar with the matter. The guidance from Chinese authorities does not constitute an outright ban on H20 use, but rather discourages companies from using the chips, especially for government or national security-related work.
- Hanesbrand (HBI) is soaring on news Canada’s Gildan Activewear Inc. is in advanced talks to buy US underwear maker Hanesbrands Inc., the FT reported, citing people familiar with the matter. The transaction could value Hanesbrands at almost $5 billion including debt and it may be agreed by the end of the week, the people told the FT, adding negotiations are not finalized and may still collapse. Shares in Hanesbrand had lost more than 40% this year through Monday, taking its market value to $1.7 billion. The US company had about $2.5 billion in debt as of June, the FT said.
- Circle (CRCL) shares are jumped after the stablecoin issuer reported its first earnings as a public company. Second-quarter adjusted Ebitda and revenue beat the average analyst estimate.
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