AMD Soars as AI Demand Fuels Rosy Outlook, Uber Climbs, DaVita Rises

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- AMD (AMD), the leading challenger to Nvidia Corp. in AI computing chips, soared to a record in early trading after a flood of data center spending bolstered its sales forecast. Second-quarter revenue will be $11.2 billion, plus or minus $300 million, the company said in a statement Tuesday. That compares with an average analyst prediction of $10.5 billion, according to data compiled by Bloomberg. The stock soared in trading on Wednesday.

- Uber (UBER) provided a better-than-expected forecast for bookings, signaling that robust demand from US commuters and travelers will offset impact from geopolitical tensions in the Middle East. The ride-hailing service guided total gross bookings to between $56.25 billion and $57.75 billion for the three-month period ending in June, while analysts on average looked for $56.23 billion. Total gross bookings include ride hails, delivery orders and driver and merchant earnings but not tips. Shares of Uber jumped as much as 7.6% to $78.50 in New York after the results were released, the biggest intraday gain since June 24. Rideshare peer Lyft gained as well.

- DaVita (DVA) shares jumped to hit a record high after the kidney dialysis services operator reported adjusted earnings per share from continuing operations for the first quarter that surpassed expectations. It also raised its full-year adjusted operating income forecast.

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