Apple Falls, Nebius Surges, Tourmaline Rises

On this episode of Stock Movers:

- Apple (AAPL) introduced its iPhone 17 lineup, adding an all-new skinnier Air design and improving the devices’ durability and camera technology. Apple also debuted new smartwatches and an updated version of its high-end AirPods. Bloomberg previously reported on plans for the iPhone Air and other features. That left few major surprises during the presentation Tuesday, and investors were generally underwhelmed. The stock slipped 1.5% to $234.39 as of 2:20 p.m. in New York. Apple shares had fallen 5% this year through Monday’s close.

- Nebius (NBIS) shares jumped Tuesday after the AI-centric cloud platform company said it will provide Microsoft access to GPU infrastructure capacity at its new data center in Vineland, New Jersey, over five years. The deal is worth as much as $19.4 billion and will provide Microsoft with a dedicated artificial intelligence computing capacity.

- Tourmaline Bio (TRML) will be acquired by Novartis in a deal that values the New York-based biopharmaceutical company at about $1.4 billion on a fully diluted basis. Tourmaline Bio is developing a promising treatment to reduce systemic inflammation, a major driver of cardiovascular disease. 

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