Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data, stock Movers, Alphabet in
Speaker 1: the Dow. I mean that sort of gets my attention.
Speaker 1: But what do you have today?
Speaker 2: Yeah, that's going to happen on Monday. It's going to
Speaker 2: replace Horizon, But it's not one of the stocks I'm
Speaker 2: watching today, guys. I'm going to start with Cerebras, which
Speaker 2: is down about nine percent. Remember this company went public
Speaker 2: justin May, so it's her first profit report since going public.
Speaker 2: A ticker symbol here CBRS. By the way, it raised
Speaker 2: five and a half billion in May, part of the
Speaker 2: biggest IPO in chip industry history. Shares though we're plunging here.
Speaker 2: The company gave an annual sales forecast that disappointed investors,
Speaker 2: and the CEO said on the earnings call that the
Speaker 2: biggest challenge for Cerebras right now is getting enough data
Speaker 2: center space. It's sort of in a with other companies
Speaker 2: like Nvidia to capture these data centers to move AI forward.
Speaker 2: And the fluctuations in the share price really reflect the
Speaker 2: swings I think in sentiment over the AI boom. If
Speaker 2: you look at where it's come from. It debuted at
Speaker 2: one hundred and eighty five dollars in May, closed as
Speaker 2: high as three hundred eleven dollars. It's up twenty three
Speaker 2: percent since going public, and here we have the stock
Speaker 2: down about ten percent today. So you know, it's also
Speaker 2: I think gotten wrapped up in the big you know
Speaker 2: chip wreck that we saw the past ye day. That's
Speaker 2: read heard that. Yeah, let's move on to FedEx ticker
Speaker 2: symbol their fd X. It is down more than six percent.
Speaker 2: So profit beat after the closing bell yesterday, but it
Speaker 2: is Wall Street's getting caught up in what it had
Speaker 2: to say about costs, so it said it's trying to
Speaker 2: navigate these trade policies at the grounding of its MD
Speaker 2: eleven cargo jet fleet. They're calling it significant headwinds to operations.
Speaker 2: So on the conference call, the CEO said profit margin
Speaker 2: for the past quarter declined to eight point four percent,
Speaker 2: that was below analysts expectations. Also that the stock has
Speaker 2: had a pretty nice run up. It's up thirty six
Speaker 2: percent so far this year. It has beaten the past
Speaker 2: few quarters, so you know, it didn't live up to
Speaker 2: those higher expectations. That is a dumb question.
Speaker 1: If you're not in the semis, have you participated in
Speaker 1: the bull market this year?
Speaker 2: Not merely as much. That's probably it's like the semis, yes,
Speaker 2: the store, yeah, yeah. The breath of this of this
Speaker 2: rally is a pretty narrow. So let's move on to Hurts.
Speaker 2: Htz took a simple there, absolutely getting slammed here in
Speaker 2: the pre market is down twenty one percent, so the
Speaker 2: car rental company saying it realized losses on the sale
Speaker 2: of vehicles in May compared with April. Hurts executive saying
Speaker 2: that in early May the expected depreciation per unit or
Speaker 2: per vehicle would be well below three hundred dollars a month.
Speaker 2: They expected to make gains on the sale of vehicles
Speaker 2: in the second quarter. That has not been the case,
Speaker 2: so they are struggling versus struggling amid this used broad market.
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