WEBVTT - Seagate, Western Digital, Corteva

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 --> 0:00:16.200
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.400 --> 0:00:19.079
<v Speaker 1>Let's not take a look at stocks under the hood today.

0:00:19.120 --> 0:00:22.160
<v Speaker 1>I Missabelli filling in for Paul Sweeney with Scarlett Pool

0:00:22.160 --> 0:00:25.480
<v Speaker 1>and we're joined by Bloomberg's Christine Aquino. Christine, what are

0:00:25.520 --> 0:00:28.320
<v Speaker 1>we looking at? Well Isabell. Let's take a look at Seagates,

0:00:28.360 --> 0:00:32.479
<v Speaker 1>so ticker STX. Those shares are up more than eight

0:00:32.479 --> 0:00:35.720
<v Speaker 1>percent at the moment. So Seagate, it's a computer hardware company,

0:00:35.880 --> 0:00:39.240
<v Speaker 1>and we're seeing trading volume rising to more than quid

0:00:39.320 --> 0:00:42.519
<v Speaker 1>ruple it's twenty day average according to Bloomberg Data. We

0:00:42.560 --> 0:00:45.360
<v Speaker 1>did get news today saying that it's price starter was

0:00:45.360 --> 0:00:47.960
<v Speaker 1>increased to two hundred and fifteen from one to seventy

0:00:47.960 --> 0:00:50.199
<v Speaker 1>at Bank of America. And you know, at the end

0:00:50.240 --> 0:00:53.800
<v Speaker 1>of August, Bloomery Intelligence did project the sixteen percent sales

0:00:53.840 --> 0:00:57.400
<v Speaker 1>growth for fiscal twenty twenty six because they see its

0:00:57.520 --> 0:01:01.240
<v Speaker 1>cloud dynamics as favorable because of data center deployments and

0:01:01.400 --> 0:01:04.840
<v Speaker 1>AI catalysts. So those chairs having a really good day today, okay,

0:01:04.840 --> 0:01:07.360
<v Speaker 1>And Western Digital which is an old school tech company

0:01:07.400 --> 0:01:10.880
<v Speaker 1>because they make hard drives. Yeah, absolutely scarlet, but they

0:01:11.000 --> 0:01:15.520
<v Speaker 1>are proving to be popular with investors today. Western Digital

0:01:15.600 --> 0:01:19.119
<v Speaker 1>Shares Sticker WDC. Those shares are up more than five

0:01:19.160 --> 0:01:21.720
<v Speaker 1>percent at the moment, extending some of those opening games

0:01:21.720 --> 0:01:25.000
<v Speaker 1>that we saw earlier. They're up for ten days as

0:01:25.040 --> 0:01:28.520
<v Speaker 1>the longest winning streak since July twenty nineteen. Training volume

0:01:28.600 --> 0:01:32.280
<v Speaker 1>also doubling from the twenty day average during this time

0:01:32.360 --> 0:01:36.080
<v Speaker 1>of day. So price target also raised for this company

0:01:36.120 --> 0:01:39.279
<v Speaker 1>one to fifteen two or rather one fifteen from eighty

0:01:39.319 --> 0:01:43.200
<v Speaker 1>five dollars at Benchmark, and last week Boomberg Intelligence saying

0:01:43.280 --> 0:01:46.240
<v Speaker 1>that they see seventeen percent sales growth for this company

0:01:46.280 --> 0:01:49.720
<v Speaker 1>in fiscal twenty twenty six twenty twenty six, and margin

0:01:49.840 --> 0:01:53.800
<v Speaker 1>expansion looks favorable as well, and that could spur EPs

0:01:53.840 --> 0:01:56.840
<v Speaker 1>growth of about two percent above consensus. They're also say

0:01:56.880 --> 0:01:59.280
<v Speaker 1>that the company does have long term packs that give

0:01:59.320 --> 0:02:02.720
<v Speaker 1>it visibility for at least a year for its sales.

0:02:03.200 --> 0:02:05.160
<v Speaker 1>What about Krteva, can you please tell us what this

0:02:05.280 --> 0:02:10.480
<v Speaker 1>back is? Yes, Corteva ctv A dooh shares not doing

0:02:10.520 --> 0:02:12.720
<v Speaker 1>too well, down more than three percent. So Corteva is

0:02:12.760 --> 0:02:18.240
<v Speaker 1>actually the fifty billion agribusiness company that formed after the

0:02:18.280 --> 0:02:21.400
<v Speaker 1>twenty seventeen merger of Dow Chemical and DuPont. So it's

0:02:21.440 --> 0:02:25.200
<v Speaker 1>a major player in the agribusiness. It's the world's one

0:02:25.200 --> 0:02:28.440
<v Speaker 1>of the world's largest suppliers of genetically modified corn and

0:02:28.520 --> 0:02:32.120
<v Speaker 1>soybean seeds, as well as pesticides. So the big news

0:02:32.400 --> 0:02:34.639
<v Speaker 1>was actually out on Friday afternoon after it closed, the

0:02:34.680 --> 0:02:38.600
<v Speaker 1>Wall Street Journal reporting that it's considering separating its seat

0:02:38.639 --> 0:02:42.600
<v Speaker 1>and pesticide businesses and investors in analysts really not taking

0:02:42.680 --> 0:02:45.800
<v Speaker 1>that news well. This Monday morning, Blobery Intelligence weigh in,

0:02:45.880 --> 0:02:49.760
<v Speaker 1>saying that a split quote would undermine product and a

0:02:49.800 --> 0:02:53.000
<v Speaker 1>financial logic because it takes the company away from this

0:02:53.120 --> 0:02:55.240
<v Speaker 1>idea of farming as a service. You know, that's a

0:02:55.280 --> 0:02:58.320
<v Speaker 1>model that a lot of its competitors are adapting, but

0:02:58.800 --> 0:03:02.920
<v Speaker 1>that potential separation would take Orteva away from that path.

0:03:04.360 --> 0:03:08.600
<v Speaker 2>The Stockmover's report from Bloomberg Radio. Check back with us

0:03:08.600 --> 0:03:11.400
<v Speaker 2>throughout the day for the latest roundup of companies making

0:03:11.480 --> 0:03:15.040
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:03:15.320 --> 0:03:19.320
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:03:19.360 --> 0:03:22.440
<v Speaker 2>dot com, and on Applecarplay, and Android Auto with the

0:03:22.480 --> 0:03:23.840
<v Speaker 2>Bloomberg Business app.