Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel. This day
Speaker 3: after the huge move for Oracle shares after earnings, and
Speaker 3: looks like Oracles still doing okay this morning. Valerie, Good morning.
Speaker 4: Yeah, good morning, Nathan. You're right.
Speaker 1: Oracle, after surging thirty six percent yesterday, is up another
Speaker 1: one point six percent.
Speaker 4: In the pre market.
Speaker 1: The rally yesterday catapulted the co founder Larry Ellison briefly
Speaker 1: to the position of the world's richest man and actually
Speaker 1: had the biggest one day gain and well for a
Speaker 1: single person from the Bloomberg's Billionaire Index. But recently we
Speaker 1: have heard from the Wall Street Journal. They reported that
Speaker 1: one of Oracle's new splashy customer contracts was a three
Speaker 1: one hundred billion cloud computing deal with open Ai, agreeing
Speaker 1: to provide power for five years, one of the biggest
Speaker 1: ever contracts signed in the cloud industry, four and a
Speaker 1: half gigawatts equivalent to two times the power generated from
Speaker 1: the Hoover dam.
Speaker 4: That is what Oracle is going to.
Speaker 1: Be delivering over the next five years to open AI.
Speaker 4: But this Oracle rally isn't stopping. It's up another one
Speaker 4: point six percent today.
Speaker 3: And another stock that did pretty okay after its IPO, Klarna.
Speaker 4: How's that stock doing this morning? I did pretty okay.
Speaker 1: Yeah, at some point yesterday it was up forty three
Speaker 1: percent on the day. But the Klarna shares are down
Speaker 1: so far in pre market trade, down nearly two and
Speaker 1: a half percent, trading at forty four dollars and seventy
Speaker 1: cents a share, so still decently above the IPO price
Speaker 1: of forty dollars.
Speaker 4: But this buy now, pay later company was one of.
Speaker 1: The biggest IPOs of the year, raised one point four
Speaker 1: billion dollars at evaluation of seventeen billion dollars. It was
Speaker 1: double digit oversubscribed and nearly half of the perspectives were
Speaker 1: left empty handed without an allocation. Perhaps the reason why
Speaker 1: we saw sets of run up in the share price
Speaker 1: yesterday as investors clamored on to get some exposure to Klarna.
Speaker 4: Does the IPO market have more room to run?
Speaker 1: That's the question that this IPO is begging, but Clarna
Speaker 1: shares in the red so far this morning, giving back
Speaker 1: some of its gains of yesterday, down two and a
Speaker 1: half percent.
Speaker 3: We also saw another company soor after some changes at
Speaker 3: the top. Let's talk about open Door.
Speaker 1: Open Door Technologies up over thirty one percent in pre
Speaker 1: market trade. This is the stock that kicked off the
Speaker 1: retail frenzy a few months ago. Perhaps it's on the
Speaker 1: verge of doing it again here, Nathan. It's up because
Speaker 1: co founders are going to be returning to the board,
Speaker 1: and the company is also pinching Shopify's CEO. But this
Speaker 1: stock that was well known as a mean stock. What
Speaker 1: open Door does is a platform for you to buy
Speaker 1: and sell real estate, so it does seem like to
Speaker 1: be There is still a lot of attention attention on
Speaker 1: this meme stock.
Speaker 3: And there's new attention on Amazon this morning, but not
Speaker 3: because of the e commerce business or the cloud business.
Speaker 3: What's going on with Amazon?
Speaker 4: Yeah, this one I thought it was funny.
Speaker 1: Amazon up eight tens of one percent, outperforming the Nasdaq
Speaker 1: so far this morning. It named a top pick at
Speaker 1: Morgan Stanley, but not for its cloud business. It's for
Speaker 1: its grocery store push as it seeks to compete with
Speaker 1: grocery store delivery services offered from the likes of Walmart.
Speaker 1: It comes after just a few weeks ago the mag
Speaker 1: seven company said it would offer same day groceries in
Speaker 1: two three hundred cities across the US by the end
Speaker 1: of the year.
Speaker 4: So it's upgrade by Morgan Stanley.
Speaker 1: Is seeing this mag seven stock outperform this morning, with
Speaker 1: Amazon up eight tens of one percent.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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