🇨🇳 Deals, disputes & diplomacy

Good evening. Trump said U.S. relations with China are on the right track, and that was enough to lift investors’ spirit. Now all eyes are on the Fed, with a decision on rate cuts coming this week that could set the tone for markets.

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎15.84% Energy Fuels
⬆︎10.95% Uranium Energy
⬆︎10.51% Cameco

The U.S. wants to bulk up its uranium reserves as it works to cut reliance on Russia. Energy Secretary Chris Wright said the goal is to build enough of a buffer to support both existing plants and new small modular reactors. The U.S. only has about 14 months of uranium in inventory. [Read more]

⬆︎7.60% CoreWeave

The cloud platform just locked in a massive $6.3B order with Nvidia. The deal comes with a safety net: if CoreWeave’s data centers aren’t fully used by customers, Nvidia has agreed to buy the extra capacity through 2032. Nvidia is already a customer, supplier, and investor in CoreWeave, which also counts Microsoft, OpenAI, and Meta as clients. [Read more]

⬆︎4.30% Google

Google’s parent Alphabet just joined the $3 trillion club, becoming the fourth company ever to hit that mark after Apple, Microsoft, and Nvidia. There wasn’t any big breaking news behind the move, just investors piling in after the milestone was crossed. [Read more]

⬆︎3.56% Tesla

Elon Musk just made his biggest stock purchase yet, spending about $1B to buy 2.6 million Tesla shares in his first open-market buy since 2020. He’s long said he wants to hold at least 20% of the company to guard against activist investors or a potential takeover. [Read more]

⬆︎3.41% Oracle

Trump said the U.S. and China reached a breakthrough deal to keep TikTok alive in America, with details still being worked out. Oracle has been TikTok’s U.S. cloud provider since 2022 and has been floated as a potential buyer since 2020. The app has long faced a U.S. ban, but Trump has repeatedly delayed it. [Read more]

⬆︎2.87% Intel

The struggling U.S. chipmaker just trimmed its cost outlook, after completing the sale of a 51% stake in its Altera programmable chip unit to Silver Lake for $3.3B. The cash boost will help cut 2025 operating expenses as the new CEO pushes a tighter, more disciplined strategy. Intel still owns 49% of Altera. [Read more]

MORE WINNERS

⬆︎15.94% GoPro
⬆︎15.68% Oklo
⬆︎9.77% Lyft
⬆︎8.05% Peloton
⬆︎7.82% Lemonade
⬆︎7.76% Viasat
⬆︎7.72% Seagate
⬆︎6.84% Unity

⬆︎⬇︎ 1-day change
Market data: today’s market close

LOSERS

⬇︎0.04% Nvidia

Chinese regulators said a preliminary probe found it violated the country’s anti-monopoly law, tied to its 2020 Mellanox acquisition. The investigation adds to growing tech tensions between the U.S. and China, with China recently opening separate probes into U.S. semiconductors. [Read more]

⬇︎2.41% Texas Instruments

Chinese regulators are probing whether U.S. chipmakers dumped analog chips in China at unfair prices, and they’re also checking if U.S. trade rules are unfair to Chinese companies. This all comes right after the U.S. put 23 Chinese firms on its restricted trade list. [Read more]

⬇︎3.22% AstraZeneca

Double bad news from Britain’s biggest listed company: drugmaker AstraZeneca was hit with a downgrade from Handelsbanken and a pause on a planned $270 million investment in its Cambridge research hub. The project was expected to bring around 1,000 new jobs to the area. [Read more]

⬇︎5.68% Corteva

The agrichemicals giant is considering splitting its seed business (selling farmers seeds) from its crop protection business (herbicides and pesticides). The two have long worked together, with bundled products and joint R&D delivering systems like Enlist weed control. Analysts worry a breakup could weaken those synergies. [Read more]

⬇︎6.69% Alaska Air

The airline warned its quarterly profit will come in at the low end of forecasts, as fuel prices and operational hiccups cut into margins. Refinery outages pushed its fuel bill higher, while storms, air traffic control limits, and even a July IT meltdown added costly delays and compensation payouts. [Read more]

MORE LOSERS

⬇︎2.69% Philip Morris
⬇︎3.90% Kenvue
⬇︎7.40% Duolingo
⬇︎11.75% Stride

⬆︎⬇︎ 1-day change
Market data: today’s market close

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