SAP Gains, VW Falls, Wise Drops

Today's biggest winners and losers in the stock market.On this episode of Stock Movers: - SAP shares rise as much as 5.5% after the firm reported 2Q cloud backlog growth that beat estimates, easing investor fears that companies’ software budgets are at risk of increased AI spending. - Volkswagen shares fall as much as 3.2% as a deepening slump in China intensifies pressure on Chief Executive Officer Oliver Blume to overhaul Europe’s largest carmaker.- Wise shares dropped more than 10% after its application to become a national trust bank in the US was rejected by the US Office of the Comptroller of the Currency, delivering a setback for the fintech’s plans to expand in the US.See omnystudio.com/listener for privacy information.