Intel CEO to Meet Trump, Pot Soars, Dole Slides

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, Vonnie Quinn, Tim Stenovec and Isabelle Lee.

- Intel (INTC) shares are trading higher Monday amid reports indicating CEO Lip-Bu Tan will meet with President Donald Trump. The meeting is expected to take place Monday at the White House. It comes four days after Trump called for Tan's resignation in a Truth Social post, describing him as "highly CONFLICTED" and alleging ties to Chinese semiconductor companies with connections to the country's military. The criticism followed a letter from Republican Senator Tom Cotton to Intel's board chairman seeking answers about Tan's business interests in China. Tan has said he has the full support of Intel's board and reached out to the White House to address what he described as "misinformation" about his record.
- Shares of cannabis-linked companies rallied on Monday after President Donald Trump said he was considering reclassifying marijuana as a less dangerous drug — giving the sector a much needed boost. The stock of greenhouse production firm Village Farms International Inc. surged as much as 42% on Monday, its biggest intraday jump since June 2017. Tilray Brands Inc., (TLRY) Canopy Growth Corp., Aurora Cannabis Inc., SNDL Inc. and Cronos Group Inc. all climbed by double digits after the US president told reporters at the White House on Monday that he was looking at making the change over “the next few weeks.”

- Dole (DOLE) shares fall 5.8% after the produce company cut is annual adjusted Ebitda forecast. Additionally, on the conference call, it said that industry specific challenges and less favorable weather conditions in much of Central America, as well as strong market demand, put pressure on industry supply and sourcing costs.

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