U.S. Weekly Review: Morgan Stanley, Porsche, Broadcom, Walmart and More Stocks That Defined the Week

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The Score is a weekly review of the biggest stock moves and the news that drove them.

Porsche Automobile Holding SE

Porsche wants a new driver to get the German automaker back on course.

Porsche said Friday that it would start talks with Chief Executive Oliver Blume about an early exit, and with former McLaren Automotive boss Michael Leiters about taking the wheel.

Blume is also CEO of Volkswagen -- Porsche's majority owner -- and his dual role has long attracted criticism. Porsche said Blume would remain CEO of Volkswagen.

The German automakers face a bevy of challenges, including fierce competition in China and President Trump's tariffs.

Porsche recently issued its fourth profit warning of the year after it said unpredictable electric-vehicle demand forced it to delay the launch of new all-electric models.

Porsche Automobile Holding SE added 1.5% Friday.

Broadcom

Broadcom shares got a boost from its multimillion-dollar deal with OpenAI.

The chip maker is working with the ChatGPT startup to develop and deploy 10 gigawatts of custom AI chips and computing systems over the next four years.

The massive deal brings the total scale of computing capacity OpenAI has agreed to buy from chip giants Broadcom, Nvidia and Advanced Micro Devices to 26 gigawatts, enough to meet the summer electricity needs of New York City more than two times over.

The announcement came amid a broader tech rally Monday, after President Trump and senior administration officials over the weekend eased fears of a renewed U.S.-China trade war.

Broadcom shares jumped 9.9% Monday.

Wal-Mart

Shoppers will soon be able to buy Walmart products via ChatGPT.

The retail giant said it is forming a partnership with OpenAI to let U.S.-based users purchase its products directly within the artificial-intelligence chatbot.

The products for sale will include nearly everything available on Walmart's website, except for fresh food. Walmart+ members will still get their benefits, such as free shipping, when making purchases through ChatGPT.

ChatGPT already allows shoppers to buy some products from Etsy's domestic sellers and will soon add some merchants on Shopify's e-commerce platform. For now, ChatGPT's shopping service, called Instant Checkout, only supports single-item purchases.

Walmart shares gained 5% Tuesday.

Morgan Stanley

Blockbuster earnings by America's biggest banks tempered fears that the economy is headed for a slowdown.

The country's six largest banks raked in almost $41 billion in profit in the past three months, up 19% from a year ago, thanks in part to booming business in dealmaking and trading.

Wall Street's most powerful financiers also said U.S. consumers and businesses are continuing to spend despite concerns the Trump administration's agenda could slow the economy, boost inflation or both.

Morgan Stanley Chief Executive Ted Pick described the backdrop in an earnings call as one in which "macro uncertainty and enormous opportunity uncomfortably coexist."

Morgan Stanley shares rose 4.7% on Wednesday.

Bunge

American agricultural stocks got a boost after President Trump on Tuesday threatened to cut off trade in cooking oil with China.

Trump's social-media post warned that the U.S. was considering retaliating against China for not ordering American soybeans. He threatened to ban exports from China of used cooking oil -- a key ingredient needed to produce renewable fuels -- saying the U.S. "can easily produce Cooking Oil ourselves, we don't need to purchase it from China."

Bunge shares rose 13% Wednesday, while Archer-Daniels-Midland added 2.5%. Both Bunge and ADM operate several soybean crush plants nationwide, which make soybean oil among other products.

Novo Nordisk

Pharma stocks, including Ozempic-maker Novo Nordisk and Eli Lilly, fell under pressure Friday on President Trump's comments on the price of the blockbuster diabetes drug.

In the Oval Office on Thursday, Trump said the out-of-pocket cost of Ozempic could fall to $150. The drug sells for a U.S. list price of nearly $1,000 a month.

Dr. Mehmet Oz, head of the Centers for Medicare & Medicaid Services, jumped in, saying those drugs' costs hadn't yet been negotiated. The administration is negotiating drug prices with several companies, having struck deals with Pfizer and AstraZeneca.

Novo also sells weight-loss drug Wegovy. Eli Lilly sells similar drugs Mounjaro and Zepbound.

American depositary shares of Novo fell 3.1% Friday.

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