1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,320 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:18,439 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,480 --> 00:00:21,560 Speaker 1: I'm Nathan Hager, joined by Bloomberg Stan Curtis and the 6 00:00:21,840 --> 00:00:24,919 Speaker 1: biggest move in stocks this morning, very easy to see, 7 00:00:25,000 --> 00:00:27,720 Speaker 1: Dan Oracle, Good morning. 8 00:00:28,280 --> 00:00:31,680 Speaker 3: Good morning, Nathan Oracle. That's right, the big AI name, 9 00:00:31,840 --> 00:00:35,280 Speaker 3: tickerrcl shares are up ten percent in the pre market. 10 00:00:35,400 --> 00:00:38,879 Speaker 3: That's after the company's fiscal three quarter results came in strong. 11 00:00:39,200 --> 00:00:42,120 Speaker 3: The infrastructure business, which is a read through on AI demand, 12 00:00:42,200 --> 00:00:45,760 Speaker 3: jumped eighty four percent versus the prior year. That's up 13 00:00:45,920 --> 00:00:48,800 Speaker 3: more than the seventy nine percent that Wall Street estimated. 14 00:00:49,159 --> 00:00:52,040 Speaker 3: It said it delivered cloud capacity to customers with at 15 00:00:52,159 --> 00:00:55,319 Speaker 3: ninety percent at or ahead of the schedule, so it's 16 00:00:55,400 --> 00:00:58,600 Speaker 3: able to It's able to deliver a lot of what 17 00:00:58,640 --> 00:01:01,480 Speaker 3: the demand is. It's also predicting revenue for the total 18 00:01:01,760 --> 00:01:04,840 Speaker 3: fiscal year will be ninety billion dollars, stronger than Wall 19 00:01:04,880 --> 00:01:08,560 Speaker 3: Street estimates. This is coming with heavy spending. The company 20 00:01:08,640 --> 00:01:11,800 Speaker 3: spent nearly nineteen billion dollars in capex in the third 21 00:01:11,880 --> 00:01:14,520 Speaker 3: quarter more than expected, but they are trying to come 22 00:01:14,560 --> 00:01:17,640 Speaker 3: investors saying that the company is maintaining its fifty billion 23 00:01:17,680 --> 00:01:20,680 Speaker 3: dollar capex plans for the fiscal years, so they just 24 00:01:20,720 --> 00:01:22,880 Speaker 3: seem to be pushing some of that spending up ahead. 25 00:01:23,160 --> 00:01:26,160 Speaker 3: On the back of that, JP Morgan raised Oracle to 26 00:01:26,319 --> 00:01:28,640 Speaker 3: overweight with a price target of two hundred and ten 27 00:01:28,680 --> 00:01:31,840 Speaker 3: dollars a share. Those shares are one sixty four in 28 00:01:31,880 --> 00:01:32,640 Speaker 3: the pre market right now. 29 00:01:32,720 --> 00:01:32,959 Speaker 2: Wow. 30 00:01:33,080 --> 00:01:36,399 Speaker 1: Well, easily one of the biggest earning stories of the week. 31 00:01:36,440 --> 00:01:40,280 Speaker 1: We also got a new m and A story this 32 00:01:40,400 --> 00:01:45,039 Speaker 1: morning in the always exciting world of uniforms. 33 00:01:45,560 --> 00:01:49,800 Speaker 3: That's right, UNI first ticker u NF is up ten 34 00:01:49,880 --> 00:01:53,120 Speaker 3: percent Ascentus agrees to acquire it for three hundred and 35 00:01:53,200 --> 00:01:55,880 Speaker 3: ten dollars a share in a cash and stock deal. 36 00:01:56,280 --> 00:01:59,800 Speaker 3: For every uniforse share, investors will shrieve one hundred and 37 00:01:59,800 --> 00:02:02,280 Speaker 3: fIF fifty five dollars in cash and just over three 38 00:02:02,360 --> 00:02:05,559 Speaker 3: quarters of a Cintas share. Sintas will fund the deal 39 00:02:05,600 --> 00:02:08,240 Speaker 3: with the cash and committed lines of credit. The deal 40 00:02:08,360 --> 00:02:12,000 Speaker 3: values Universe in Universe in total around five and a 41 00:02:12,000 --> 00:02:15,200 Speaker 3: half billion dollars. The deal is expected to close in 42 00:02:15,240 --> 00:02:18,160 Speaker 3: the second half of this year. Sinta shares on the 43 00:02:18,200 --> 00:02:20,960 Speaker 3: other hand, down about two percent in the pre market. 44 00:02:21,080 --> 00:02:24,320 Speaker 3: That is ticker CTAs. 45 00:02:23,560 --> 00:02:28,680 Speaker 1: Okay, some moves around private credit as well this morning 46 00:02:28,720 --> 00:02:30,800 Speaker 1: after some news from JP Morgan. 47 00:02:31,680 --> 00:02:34,400 Speaker 3: That's right, So JP Morgan is out with some more 48 00:02:34,960 --> 00:02:38,280 Speaker 3: negative news around the private market space, particularly software, as 49 00:02:38,320 --> 00:02:41,520 Speaker 3: it restricts lending to some private market funds. That's according 50 00:02:41,560 --> 00:02:44,800 Speaker 3: to a person familiar with the matter. JP Morgan has 51 00:02:44,840 --> 00:02:48,000 Speaker 3: also marked down some of its software loans in its portfolio. 52 00:02:48,440 --> 00:02:51,280 Speaker 3: Shares of JP Morgan are down about four tenths. Looking 53 00:02:51,320 --> 00:02:54,120 Speaker 3: at other names like Apollo down six tenths of a percent, 54 00:02:54,240 --> 00:02:57,440 Speaker 3: Airies down one percent, Blue Owl down one percent, and 55 00:02:57,600 --> 00:03:01,200 Speaker 3: KKR slightly positive, up about se intents in the pre market, 56 00:03:01,280 --> 00:03:03,240 Speaker 3: so a little bit of a mixed result to this. 57 00:03:03,240 --> 00:03:06,079 Speaker 3: This comes amid pressure to private markets which have large 58 00:03:06,120 --> 00:03:09,320 Speaker 3: exposure to software, and software has been on the back 59 00:03:09,360 --> 00:03:13,000 Speaker 3: foot as AI pressure continues. So definitely keeping an eye 60 00:03:13,040 --> 00:03:15,320 Speaker 3: on any updates from the private markets. 61 00:03:15,880 --> 00:03:19,920 Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with 62 00:03:20,000 --> 00:03:22,560 Speaker 2: us throughout the day for the latest roundup of companies 63 00:03:22,639 --> 00:03:25,720 Speaker 2: making news on Wall Street and for the latest market 64 00:03:25,760 --> 00:03:30,200 Speaker 2: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, 65 00:03:30,320 --> 00:03:33,840 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 66 00:03:33,880 --> 00:03:35,360 Speaker 2: the Bloomberg Business app.