WEBVTT - Cerebras and FedEx Dip; Hertz Tumbles

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data, stock Movers, Alphabet in

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<v Speaker 1>the Dow. I mean that sort of gets my attention.

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<v Speaker 1>But what do you have today?

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<v Speaker 2>Yeah, that's going to happen on Monday. It's going to

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<v Speaker 2>replace Horizon, But it's not one of the stocks I'm

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<v Speaker 2>watching today, guys. I'm going to start with Cerebras, which

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<v Speaker 2>is down about nine percent. Remember this company went public

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<v Speaker 2>justin May, so it's her first profit report since going public.

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<v Speaker 2>A ticker symbol here CBRS. By the way, it raised

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<v Speaker 2>five and a half billion in May, part of the

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<v Speaker 2>biggest IPO in chip industry history. Shares though we're plunging here.

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<v Speaker 2>The company gave an annual sales forecast that disappointed investors,

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<v Speaker 2>and the CEO said on the earnings call that the

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<v Speaker 2>biggest challenge for Cerebras right now is getting enough data

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<v Speaker 2>center space. It's sort of in a with other companies

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<v Speaker 2>like Nvidia to capture these data centers to move AI forward.

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<v Speaker 2>And the fluctuations in the share price really reflect the

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<v Speaker 2>swings I think in sentiment over the AI boom. If

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<v Speaker 2>you look at where it's come from. It debuted at

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<v Speaker 2>one hundred and eighty five dollars in May, closed as

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<v Speaker 2>high as three hundred eleven dollars. It's up twenty three

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<v Speaker 2>percent since going public, and here we have the stock

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<v Speaker 2>down about ten percent today. So you know, it's also

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<v Speaker 2>I think gotten wrapped up in the big you know

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<v Speaker 2>chip wreck that we saw the past ye day. That's

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<v Speaker 2>read heard that. Yeah, let's move on to FedEx ticker

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<v Speaker 2>symbol their fd X. It is down more than six percent.

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<v Speaker 2>So profit beat after the closing bell yesterday, but it

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<v Speaker 2>is Wall Street's getting caught up in what it had

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<v Speaker 2>to say about costs, so it said it's trying to

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<v Speaker 2>navigate these trade policies at the grounding of its MD

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<v Speaker 2>eleven cargo jet fleet. They're calling it significant headwinds to operations.

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<v Speaker 2>So on the conference call, the CEO said profit margin

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<v Speaker 2>for the past quarter declined to eight point four percent,

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<v Speaker 2>that was below analysts expectations. Also that the stock has

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<v Speaker 2>had a pretty nice run up. It's up thirty six

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<v Speaker 2>percent so far this year. It has beaten the past

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<v Speaker 2>few quarters, so you know, it didn't live up to

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<v Speaker 2>those higher expectations. That is a dumb question.

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<v Speaker 1>If you're not in the semis, have you participated in

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<v Speaker 1>the bull market this year?

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<v Speaker 2>Not merely as much. That's probably it's like the semis, yes,

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<v Speaker 2>the store, yeah, yeah. The breath of this of this

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<v Speaker 2>rally is a pretty narrow. So let's move on to Hurts.

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<v Speaker 2>Htz took a simple there, absolutely getting slammed here in

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<v Speaker 2>the pre market is down twenty one percent, so the

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<v Speaker 2>car rental company saying it realized losses on the sale

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<v Speaker 2>of vehicles in May compared with April. Hurts executive saying

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<v Speaker 2>that in early May the expected depreciation per unit or

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<v Speaker 2>per vehicle would be well below three hundred dollars a month.

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<v Speaker 2>They expected to make gains on the sale of vehicles

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<v Speaker 2>in the second quarter. That has not been the case,

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<v Speaker 2>so they are struggling versus struggling amid this used broad market.

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