1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,520 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,600 --> 00:00:18,759 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:19,000 --> 00:00:22,480 Speaker 2: I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis and Dan. 6 00:00:22,560 --> 00:00:24,560 Speaker 2: We want to begin with Ali Baba here today at 7 00:00:24,560 --> 00:00:26,920 Speaker 2: release earnings. Was there some disappointment this morning? 8 00:00:27,440 --> 00:00:31,640 Speaker 3: Good morning, Karen, Ali Baba ticker BABA. Those ad rs 9 00:00:31,680 --> 00:00:34,239 Speaker 3: are down over three percent in the pre market right now. 10 00:00:34,320 --> 00:00:37,199 Speaker 3: That's as fourth quarter sales and earnings both came in 11 00:00:37,240 --> 00:00:41,239 Speaker 3: below estimates. The company reported cloud unit revenue growth of 12 00:00:41,320 --> 00:00:45,280 Speaker 3: thirty six percent. AI related product revenue saw triple digit 13 00:00:45,360 --> 00:00:47,720 Speaker 3: growth for the tenth straight quarter, but not enough to 14 00:00:47,760 --> 00:00:51,080 Speaker 3: beat estimates. The company said it's going to maintain strong 15 00:00:51,120 --> 00:00:53,880 Speaker 3: investments across AI and that is where it sees its 16 00:00:53,880 --> 00:00:57,240 Speaker 3: primary growth. Investors will want more details on how to 17 00:00:57,320 --> 00:01:00,920 Speaker 3: turn those sales turn to that growth to strength, especially 18 00:01:00,960 --> 00:01:03,560 Speaker 3: as sales come in shy of estimates. We're looking at 19 00:01:03,560 --> 00:01:07,399 Speaker 3: a big monetization theme right now. Overnight, ten Cent shares 20 00:01:07,440 --> 00:01:10,560 Speaker 3: fell seven percent in Hong Kong, off that company's earnings. 21 00:01:10,800 --> 00:01:14,080 Speaker 3: It lacked a clear path to monetization. That's a key 22 00:01:14,240 --> 00:01:16,679 Speaker 3: keyword that investors are looking for today. 23 00:01:16,959 --> 00:01:19,880 Speaker 2: Yeah, we've been following Micron slide this morning as well. 24 00:01:19,959 --> 00:01:20,720 Speaker 2: What did they say? 25 00:01:21,200 --> 00:01:21,720 Speaker 1: That's right. 26 00:01:21,840 --> 00:01:25,440 Speaker 3: Micron shares are down five percent in pre market ticker MU. 27 00:01:25,640 --> 00:01:28,640 Speaker 3: The memory chip maker warns it will spend over twenty 28 00:01:28,680 --> 00:01:33,319 Speaker 3: five billion dollars this fiscal year. The heavy capex investment 29 00:01:33,440 --> 00:01:37,680 Speaker 3: is needed to meet demand. That that forecast is overshadowing 30 00:01:37,720 --> 00:01:41,199 Speaker 3: and otherwise upbeat forecast, including revenue estimates for current quarter 31 00:01:41,280 --> 00:01:44,760 Speaker 3: over fifty percent higher than estimates. The memory space is 32 00:01:44,800 --> 00:01:47,840 Speaker 3: benefiting from data center build out and Micron, Samsung s 33 00:01:47,920 --> 00:01:52,160 Speaker 3: k Heinex dominate that market. Samsung itself announced that it 34 00:01:52,200 --> 00:01:55,240 Speaker 3: will spend one hundred and ten trillion one which is 35 00:01:55,280 --> 00:01:58,240 Speaker 3: about seventy five billion dollars in CAPEX and R and 36 00:01:58,320 --> 00:02:02,520 Speaker 3: D investments this year. Those in Korea down five percent, 37 00:02:02,640 --> 00:02:05,160 Speaker 3: So big spending on memory chips weighing on those on 38 00:02:05,200 --> 00:02:05,880 Speaker 3: those prices. 39 00:02:06,280 --> 00:02:08,480 Speaker 2: And now we have some news for a line. 40 00:02:09,080 --> 00:02:09,680 Speaker 1: That's right. 41 00:02:10,200 --> 00:02:13,680 Speaker 3: The activist investor Elliott Management has built a significant stake 42 00:02:13,720 --> 00:02:16,639 Speaker 3: in the maker of invisile line. According to people familiar 43 00:02:16,639 --> 00:02:19,360 Speaker 3: with the matter that has the shares up five percent 44 00:02:19,440 --> 00:02:22,200 Speaker 3: in the pre market. A representative for a Line didn't 45 00:02:22,200 --> 00:02:25,640 Speaker 3: immediately respond to a request for comment. Elliott spokesperson declined 46 00:02:25,639 --> 00:02:29,640 Speaker 3: to comment. This stake comes as a line comes off 47 00:02:29,639 --> 00:02:32,840 Speaker 3: of a large demand from the pandemic. That's when consumers 48 00:02:32,840 --> 00:02:35,040 Speaker 3: spend a lot of time seeing themselves on Zoom and 49 00:02:35,080 --> 00:02:38,239 Speaker 3: buying those invisile line products. But demand has declined. Shares 50 00:02:38,240 --> 00:02:40,640 Speaker 3: are down over seventy five percent from their peak five 51 00:02:40,760 --> 00:02:43,960 Speaker 3: around five years ago. Elliott getting in there looking for 52 00:02:44,000 --> 00:02:46,400 Speaker 3: ways to turn the company around and quickly. 53 00:02:46,520 --> 00:02:48,919 Speaker 2: Why are shares of Rocket Lab jumping this morning? 54 00:02:49,280 --> 00:02:52,359 Speaker 3: That's right, ourklb up one percent in pre market. The 55 00:02:52,480 --> 00:02:55,160 Speaker 3: rocketmaker now it's one hundred and ninety million dollar contract 56 00:02:55,240 --> 00:02:57,440 Speaker 3: from the US Department of War. It's going to perform 57 00:02:57,720 --> 00:03:01,600 Speaker 3: nine twenty hypersonic test flights with the Haste launch vehicles 58 00:03:01,639 --> 00:03:04,280 Speaker 3: over the next four years. It now sees seventy launches 59 00:03:04,360 --> 00:03:07,200 Speaker 3: with a value of two billion dollars in its backlog. 60 00:03:08,480 --> 00:03:12,720 Speaker 1: This Stockmover's report from Bloomberg Radio. Check back with us 61 00:03:12,720 --> 00:03:15,520 Speaker 1: throughout the day for the latest roundup of companies making 62 00:03:15,600 --> 00:03:19,240 Speaker 1: news on Wall Street and for the latest market moving headlines. 63 00:03:19,440 --> 00:03:23,440 Speaker 1: Listen to Bloomberg Radio Live. 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