Closing Bell: Tesla Rises, Nike Rebounds, Opendoor Tumbles

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Tim Stenovec.

- Tesla (TSLA) rose off news that Samsung will produce Tesla's AI semiconductors in a new $16.5 billion pact. Elon Musk described the value of the deal as "just the bare minimum" and said the actual output is likely to be several times higher, with the AI6 component forming the foundation of Tesla's driving hardware suite. The contract win is seen as a signal of confidence for Samsung's upcoming fabrication technology and helps burnish its reputation as the strongest alternative to TSMC, according to Ryu Young-ho, an analyst at NH Investment & Securities Co. Others in the chip space benefitted off the news, including AMD - the number two gainer in the S&P today.

- Nike (NKE) shares rose to their highest intraday level since March, after JPMorgan upgraded to the stock to overweight from neutral, citing the earnings impact of the sportswear maker’s five-pronged multi-year recovery plan. JPMorgan analyst Matthew Boss notes that the recovery path will equate to positive earnings-per-share growth in the high teens to 20% through to the 2030 full-year. The recovery plan includes global inventory alignment to sales growth, accelerating momentum within global wholesale order books and 2H 2026 anniversary of about $500 million of accelerated and incremental sales-related reserves.

- Opendoor Technologies (OPEN) is postponing a shareholder vote on a reverse stock split after a recent run-up in the company's shares. The company had previously scheduled a special meeting due to a notification from Nasdaq that it could be delisted for failing to maintain a stock price of $1 or more. The recent volatility in the company's stock led the board to delay the vote on stock split proposals, according to a statement Monday. Opendoor was the most actively traded stock today, down 7.87% at the close.

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