WEBVTT - Closing Bell: Sandisk Surges, Western Digital Rises, Tesla Slumps

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>This is the closing bell on the Stock Movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenovak, Romain Bostik, and Katie Greifel.

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<v Speaker 3>I'm going to go to some of the outperformer sand discs,

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<v Speaker 3>certainly on that list. I believe it's the top gainer

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<v Speaker 3>in the S and P five hundred today. I mean,

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<v Speaker 3>this one just continues to be on a tear and

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<v Speaker 3>you can see in today's session this one up another

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<v Speaker 3>fifteen percent in today's session. Company is up about oh

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<v Speaker 3>more than one hundred and eighty percent year at a date.

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<v Speaker 3>That's and it's up about seventeen hundred percent since it

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<v Speaker 3>was spun off last February. It was spun off, of course,

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<v Speaker 3>from Western Digital. What's interesting is you continue to see

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<v Speaker 3>analysts coming out and they have been upping their price

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<v Speaker 3>targets on the company. Since it reported earnings on January

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<v Speaker 3>twenty ninth, teen analysts have raised price targets by an

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<v Speaker 3>average of eighty six percent. No analysts have cut price

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<v Speaker 3>targets on the company, and we did see the twelve

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<v Speaker 3>month price target is about six hundred and seventy five

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<v Speaker 3>fifty eight versus about four hundred and eighty one pre earning,

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<v Speaker 3>So just a little bit of a context there. Let's

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<v Speaker 3>go to Western Digital, also an outperformer in today's session.

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<v Speaker 3>I think this may have been the number two gainer

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<v Speaker 3>in the S and P five hundred, number three forgive me,

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<v Speaker 3>and that one is up about almost eight percent in

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<v Speaker 3>today's session. This is another one different in terms of

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<v Speaker 3>the product offering for sand discs, but they both have

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<v Speaker 3>an AI story connected to them. And this one's up

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<v Speaker 3>about sixty percent year to date and up about almost

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<v Speaker 3>three hundred percent in twenty twenty five. But again it

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<v Speaker 3>has to do with analysts raising their price targets. I'm

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<v Speaker 3>going to go back to just one other gainers. It's

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<v Speaker 3>not a household name, Peakstone real Ty ticker's PKST. This

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<v Speaker 3>one up thirty three percent, so pretty much finishing at

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<v Speaker 3>its highs of the session. Share surging after the Canadian

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<v Speaker 3>private equity firm Brookfield Asset Management said it will buy

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<v Speaker 3>the Industrial Rate for twenty one dollars per year. It's

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<v Speaker 3>an all cash transaction valued at about one point two billions,

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<v Speaker 3>so that represented a thirty four percent premium to Peaks

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<v Speaker 3>Joe's closing price on January thirtieth, so kind of moving

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<v Speaker 3>up representing that premium. So that was definitely an outperformer.

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<v Speaker 1>Okay, well, as we await earnings from Pallentier, let's get

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<v Speaker 1>back to Elon Musk's empire, and that would include Tesla

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<v Speaker 1>being one of the main decliners in the S and

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<v Speaker 1>P five hundred today European sales. That slump carried into

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<v Speaker 1>this year. Registrations of new vehicles plummeted in two of

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<v Speaker 1>the region's leading markets for battery evs. Tesla French sales

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<v Speaker 1>fell forty two percent in January. Just six hundred and

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<v Speaker 1>sixty one cars were sold. Norway registrations plunk eighty eight

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<v Speaker 1>percent in January. This is nothing new, as people have

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<v Speaker 1>pushed back against Elon Musk around the world.

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<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

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