WEBVTT - Micron Rises, Dow Drops, Carvana Falls on BofA Downgrade

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.320
<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

0:00:16.720 --> 0:00:18.159
<v Speaker 1>Take a look at some of the stocks on the

0:00:18.160 --> 0:00:18.599
<v Speaker 1>move today.

0:00:18.600 --> 0:00:20.079
<v Speaker 2>We can do that with Christine Aquino.

0:00:20.160 --> 0:00:21.800
<v Speaker 1>Christine, what are you looking at today? All right, Paul,

0:00:21.880 --> 0:00:24.480
<v Speaker 1>let's take a look at Micron this morning. Very much

0:00:24.560 --> 0:00:27.200
<v Speaker 1>green today and keeping with the rest of the market,

0:00:27.440 --> 0:00:30.240
<v Speaker 1>so ticker MU. Those shares are now extending their opening

0:00:30.240 --> 0:00:33.120
<v Speaker 1>gains up more than three percent at the moment. We

0:00:33.200 --> 0:00:36.920
<v Speaker 1>have a pair of more optimistic analysts assessments here for

0:00:37.000 --> 0:00:40.120
<v Speaker 1>the stock. So first Key Mack analyst John then reiterating

0:00:40.159 --> 0:00:44.080
<v Speaker 1>his over rating on the stock and six hundred dollars

0:00:44.120 --> 0:00:47.120
<v Speaker 1>price Siger that, by the way, is a sixty four

0:00:47.159 --> 0:00:50.760
<v Speaker 1>percent gain from Friday's close, so very very positive on

0:00:50.840 --> 0:00:53.520
<v Speaker 1>the stock there. And then we also have Miso Ho's

0:00:53.760 --> 0:00:56.920
<v Speaker 1>VJ raqsh saying that investors should take advantage of the

0:00:56.920 --> 0:01:00.840
<v Speaker 1>weakness in shares of memory and storage stocks, which Micron

0:01:00.960 --> 0:01:04.480
<v Speaker 1>is one of them, and also affirmed his outperform rating

0:01:04.640 --> 0:01:06.920
<v Speaker 1>on the stock. So that's enjoying a little bit of

0:01:06.920 --> 0:01:09.240
<v Speaker 1>a lift there at the moment, All right, good stuff.

0:01:09.520 --> 0:01:11.479
<v Speaker 1>Second on your list, Let's take a look at Dow.

0:01:11.600 --> 0:01:16.199
<v Speaker 1>So this is Dow chemical ticker Dow. More analyst action here,

0:01:16.280 --> 0:01:19.160
<v Speaker 1>but to the downside unfortunately, and so those shares now

0:01:19.200 --> 0:01:22.360
<v Speaker 1>extending their losses there. Down about a two point six

0:01:22.440 --> 0:01:24.880
<v Speaker 1>percent at the moment, and that's because we have Bank

0:01:24.920 --> 0:01:28.080
<v Speaker 1>of America downgrading the stock and they're saying that detailments

0:01:28.120 --> 0:01:31.160
<v Speaker 1>from the war are unsustainable. So according to Bank of America,

0:01:31.240 --> 0:01:34.280
<v Speaker 1>there's about a ten cent per pound premium in chemical

0:01:34.319 --> 0:01:37.840
<v Speaker 1>prices for twenty twenty seven, but that's not necessarily going

0:01:37.880 --> 0:01:40.360
<v Speaker 1>to be good for demand, and they are seeing upside

0:01:40.440 --> 0:01:43.280
<v Speaker 1>peeking in the second quarter of this year, So not

0:01:43.360 --> 0:01:46.440
<v Speaker 1>a very optimistic pronouncement for the future of the stock.

0:01:48.000 --> 0:01:50.600
<v Speaker 1>One more force, let's take a look at Carvana. So

0:01:50.760 --> 0:01:54.400
<v Speaker 1>CVNA is a ticker there that's also not having a

0:01:55.000 --> 0:01:57.000
<v Speaker 1>not so much of a good day. It's down about

0:01:57.240 --> 0:01:59.920
<v Speaker 1>one percent at the moment. Bank of America coming in

0:02:00.200 --> 0:02:03.760
<v Speaker 1>with more email's actions here once again they did downgrade

0:02:03.760 --> 0:02:07.640
<v Speaker 1>a stock to neutral from buy previously. And ana's Michael

0:02:07.720 --> 0:02:11.320
<v Speaker 1>McGovern saying that the recent oil shock potentially pressures an

0:02:11.400 --> 0:02:15.280
<v Speaker 1>already stretched lower end middle income consumer. Granted, their price

0:02:15.680 --> 0:02:18.120
<v Speaker 1>is still set a three hundred and sixty dollars, which

0:02:18.120 --> 0:02:22.160
<v Speaker 1>still is about a fifteen percent increase from the last close. Interestingly,

0:02:22.240 --> 0:02:27.480
<v Speaker 1>Carvana currently has seventeen buys, seven holds, and two sell ratings,

0:02:27.520 --> 0:02:30.800
<v Speaker 1>and so potentially more room for other italysts to downgrade

0:02:30.800 --> 0:02:31.480
<v Speaker 1>at stock.

0:02:32.240 --> 0:02:36.280
<v Speaker 2>The Stock Mover's report from Bloomberg Radio. Check back with

0:02:36.360 --> 0:02:38.919
<v Speaker 2>us throughout the day for the latest roundup of companies

0:02:39.000 --> 0:02:42.079
<v Speaker 2>making news on Wall Street and for the latest market

0:02:42.120 --> 0:02:46.560
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:02:46.680 --> 0:02:50.200
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:02:50.240 --> 0:02:51.760
<v Speaker 2>the Bloomberg Business app.