AMD Slips after Downgrade, Jefferies Earnings Miss, GM Drops on Auto Tariffs
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On this episode of Stock Movers: - Advanced Micro Devices (AMD) shares fell this morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says that Street estimates for AMD are too high, while competition from Intel is growing.- Jefferies (JEF) shares slide as much as 10% in regular Thursday trading, the most since Jan. 10, after earnings came in below estimates aftermarket Wednesday. Morgan Stanley lowered its price target on the financial services firm to $75 from $81 following the results.-General Motors (GM) shares tumbled following President Trump's announcement on auto tariffs. Trump signed a proclamation to implement a 25% tariff on auto imports, aiming to bring more manufacturing jobs to the US.See omnystudio.com/listener for privacy information.
