00:09 Speaker A
It’s time now for today’s trending tickers. Well, let’s start with some breaking news first.
00:14 Speaker A
General Motors is down in pre-market, and that’s after the automaker said it would take a $1.6 billion hit from slowing sales of electric vehicles.
00:27 Speaker A
GM will revise its earnings by that amount to reflect lower value of its equipment and other assets. As you can see, shares down just under 2%.
00:36 Speaker A
Okay, now let’s move on to rare Earths. The stocks linked to the minerals powering our phones, batteries and infrastructure are rallying.
00:46 Speaker A
Tensions between the US and China continue to escalate around strategic resources.
00:53 Speaker A
Look at MP materials and critical medals. The ticker CRML jumped up more than 35% after closing more than 55% higher, and MP rose again almost 8 and a half percent after closing at plus 21.34% yesterday.
01:14 Speaker A
These are two of the companies that are seen as beneficiaries of US efforts to reduce its reliance on China.
01:21 Speaker A
But it will also be interesting to keep an eye on other adjacent industries from magnets to mineral processing.
01:28 Speaker A
Now, very different slice of the stock market. The pizza ticker is rising. Papa Dough is up another 3% after closing at 9.7%. Papa John, sorry, after closing up 9.7% on unconfirmed reports and speculation online that Apollo Global Management is bidding $64 per share to take over the pizza chain.
01:54 Speaker A
Disclosure note that Apollo Global Management is also the majority owner of Yahoo.
02:01 Speaker A
And now on to AI and if there’s one name you need to watch closely today, that’s Navitas.
02:07 Speaker A
shares closed at up 21.34% and they are continuing their strong rally currently adding another more than 25%.
02:16 Speaker A
Navita designs and markets power semiconductors for global markets including China, but much of today’s rally is due to advancements in Navita’s collaboration with Nvidia on next generation power devices for AI infrastructure.
02:30 Speaker A
Finally, let’s take a quick look at some other key AI names.
02:35 Speaker A
Broadcom, Intel, Alphabet, TSMC are all in the red in pre-market as you can see on this board. Intel is in the red, that’s after it got downgraded by Bank of America just a few days ahead of its earnings report.
