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 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Starting off
Speaker 1: with one of the biggest upside movers in the pre
Speaker 1: market on this Friday morning. What's behind the bid for
Speaker 1: Lumentum This morning, Dan, Good morning.
Speaker 3: Good morning, Nathan. Ticker Lite Lumentum is up nearly five
Speaker 3: percent in the pre market. That's as the optical component
Speaker 3: company is said said demand from US hyperscalers is accelerating.
Speaker 3: The company is projecting it will be sold out through
Speaker 3: twenty twenty eight, within two quarters. The CEO noted that
Speaker 3: capex spending from the AI space is quote enormous, and
Speaker 3: there seems to be no end in sight end quote
Speaker 3: and that showing up in the shares, which are up
Speaker 3: one hundred and fifty percent so far this year. And
Speaker 3: that's pushed to be big enough to be added to
Speaker 3: the S and P five hundred just last month.
Speaker 1: And we're seeing a move higher as well for another
Speaker 1: tech named Taiwan Semiconductor.
Speaker 3: That's right. The tickers. The shares trade under TSM in
Speaker 3: the US. Those are up two percent in the pre market,
Speaker 3: as the main chip maker for Nvidia and Apple reported
Speaker 3: a thirty five percent increase in quarterly sales. The estimate
Speaker 3: topping figure pushes back against concerns that the Middle East
Speaker 3: crisis could demand for chips amid higher energy costs. The
Speaker 3: full results for the first quarter are set to come
Speaker 3: out next week, so we'll get some more details. It
Speaker 3: should also be noted that in the US the Philadelphia
Speaker 3: Semis index called the Socks and it is a benchmark
Speaker 3: for chips. It closed yesterday's session at a second record
Speaker 3: high in a row.
Speaker 1: Well, there's another tech name that's not joining in the
Speaker 1: upside moves this morning. What's going on with Service now?
Speaker 3: Now, this is a software company and it is under pressure.
Speaker 3: Those shares are down over one percent in the pre market,
Speaker 3: sliding for the fourth straight day. That says, UBS cut
Speaker 3: its recommendation two neutral from buy, and it slashed the
Speaker 3: price target from one hundred and seventy dollars to one
Speaker 3: hundred dollars per share. The company is under pressure as
Speaker 3: part of what the so called SaaS apocalypse, where AI
Speaker 3: is seen as hurting demand for legacy software providers. And
Speaker 3: on Wednesday, more news that hit the software companies Anthropic
Speaker 3: launch cloud to manage agents, and metow Platforms unveiled a
Speaker 3: new model. Shares of Service Now ended yesterday's session at
Speaker 3: their lowest price since twenty seventeen.
Speaker 1: Oh wow, Well, let's move from software to salads because
Speaker 1: sweet Grain is in the green this morning.
Speaker 3: That's right, So insiders are buying up shares of the salad.
Speaker 3: Specialist Goldman Sachs reported a series of insider transactions worth
Speaker 3: over three million dollars that those purchases are over two
Speaker 3: percent of the shares available for trading. That has this
Speaker 3: stock up about four percent in pre market trading underticker SG. Now,
Speaker 3: this comes after nearly ninety percent slide from the peak
Speaker 3: in twenty twenty. And I did a quick estimate. They're
Speaker 3: trading around six dollars a share in pre market, so
Speaker 3: you could buy either three shares or one salad from
Speaker 3: them from this.
Speaker 1: To to say, yeah, the salads are more expensive than
Speaker 1: the shares themselves. Just time to talk about a stock
Speaker 1: that's being affected by some trade news.
Speaker 3: That's right. So Technoglass ticker TGLS. It's a window maker
Speaker 3: with about a two billion dollar market cap. It's lowered
Speaker 3: its full year adjusted EBITA outlook due to tariffs on
Speaker 3: some aluminum containing products. Now it sees a top end
Speaker 3: of two hundred and forty five million dollars for that measure.
Speaker 3: The previous guidance was two hundred and sixty five to
Speaker 3: three hundred and five million dollars. Keeping an eye on this.
Speaker 3: Because President Trump signed a proclamation on how tariffs are calculated,
Speaker 3: which took effect earlier this week, we're starting to see
Speaker 3: this play out in company guidance.
Speaker 2: This 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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