Stock Movers: Tesla AI Chip Deal, Nike Upgrade, Opendoor Delays Vote

Semiconductor Sector Strength

• 🚀 The semiconductor space significantly outperformed the broader market, with the SOX index up 1.6% and AMD being the S&P 500's second-largest gainer, rising 4.3%.
• 💡 UBS analysts raised their price target on AMD to $210 from $150, maintaining a buy rating.
• 🤝 Samsung Electronics secured a new $16.5 billion pact to produce AI semiconductors for Tesla, a significant win for Samsung's foundry division and a boost for chipmakers like AMD and European names such as ASML.

Tesla and Autonomous Driving

• 🚗 Tesla shares rose approximately 3% following the news of the Samsung deal.
• 📈 Morgan Stanley analysts forecast the market for self-driving vehicles to reach $200 billion by 2030.

Nike's Recovery Plan

• 👟 Nike shares climbed to their highest intraday level since March, up 3.9% for the session.
• ⭐ JPMorgan upgraded Nike to overweight from neutral, raising its price target to $93 from $64, citing a five-pronged recovery plan expected to drive high-teens to 20% EPS growth through 2030.

Opendoor Technologies' Stock Split Delay

• 📉 Opendoor Technologies (OPEN) postponed a shareholder vote on a reverse stock split, leading to a 7.9% decline in its shares.
• ⚠️ The company had previously received a delisting warning from Nasdaq for failing to maintain a stock price above $1, but shares have since recovered.
• ⚖️ The board decided to delay the vote due to recent stock price volatility.

Other Market Movers

• 📊 Cadence Design, a software company for chip design, reported Q2 revenue of $1.28 billion, beating expectations, and raised its 2025 revenue outlook, leading to a 6% after-hours gain.
• 📉 Gilead shares fell 2.7% amid reports that HHS Secretary Robert F. Kennedy Jr. plans to dismiss an advisory panel determining insurance coverage for preventative health measures.
• 🗣️ Duolingo shares dropped 6.5% as Citizens analysts expressed caution on upcoming results, citing slowed engagement and questioning if the total addressable market is saturated.