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 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:18,720 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,880 --> 00:00:19,720 Speaker 1: Why do you have Alexi? 6 00:00:19,880 --> 00:00:21,919 Speaker 3: I am fired up because there's a big deal here 7 00:00:22,000 --> 00:00:24,759 Speaker 3: between core Weave and Meta. First, I just want to 8 00:00:24,800 --> 00:00:27,319 Speaker 3: say core Weave was up about seven and a half 9 00:00:27,360 --> 00:00:29,760 Speaker 3: percent after what I'm just about to say was announced. 10 00:00:29,920 --> 00:00:32,320 Speaker 3: It's now up just about one percent, so definitely losing 11 00:00:32,320 --> 00:00:35,680 Speaker 3: some steam. But Corewave has struck a twenty one billion 12 00:00:35,800 --> 00:00:39,720 Speaker 3: dollar deal to supply computing power to Meta platforms. These 13 00:00:39,800 --> 00:00:41,560 Speaker 3: two already had a deal, so this is just really 14 00:00:41,560 --> 00:00:43,840 Speaker 3: an expansion. This is going to go through the year 15 00:00:44,120 --> 00:00:47,720 Speaker 3: twenty thirty two. So core Weave will provide AI cloud 16 00:00:47,760 --> 00:00:51,600 Speaker 3: capacity to Meta from multiple data centers, powered in part 17 00:00:52,000 --> 00:00:56,720 Speaker 3: by Nvidia's AI chips. So let's get Nvidia in there too, right. 18 00:00:56,840 --> 00:01:00,000 Speaker 3: Of course, it builds on that fourteen billion dollar agreement 19 00:01:00,040 --> 00:01:02,920 Speaker 3: the companies had previously reached that ran through twenty thirty one. 20 00:01:03,280 --> 00:01:07,520 Speaker 1: Okay, I'm lost Livingston, New Jersey. Love it. Five hundred 21 00:01:07,560 --> 00:01:11,000 Speaker 1: and fifty employees. This is not a Dow Jones Industrial 22 00:01:11,040 --> 00:01:12,560 Speaker 1: average component is no. 23 00:01:12,680 --> 00:01:15,640 Speaker 4: But they've got some awesome technology. I'm just that's what 24 00:01:15,680 --> 00:01:18,240 Speaker 4: man Deep tells me. He says they've got awesome technology. 25 00:01:18,800 --> 00:01:21,840 Speaker 4: On agran is telling me the same thing. So, yeah, Livingston, 26 00:01:21,840 --> 00:01:25,960 Speaker 4: New Jersey, great spot there, but yeah, that's the tech 27 00:01:26,000 --> 00:01:26,559 Speaker 4: people want. 28 00:01:26,680 --> 00:01:30,200 Speaker 3: So this core weef, Yeah, that is all in on 29 00:01:30,319 --> 00:01:32,679 Speaker 3: core weave. All right, let's move over to Amazon. It's 30 00:01:32,760 --> 00:01:35,440 Speaker 3: up one and a half percent here This morning, Andy Jasse, 31 00:01:35,560 --> 00:01:39,760 Speaker 3: the CEO, out with the company's annual shareholder letter. There's 32 00:01:39,800 --> 00:01:42,640 Speaker 3: a bunch of nuggets in there. He said that the 33 00:01:42,640 --> 00:01:45,280 Speaker 3: company would use the next year to focus on expanding 34 00:01:45,440 --> 00:01:49,080 Speaker 3: rural delivery. They're going to invest heavily in robotics and 35 00:01:49,200 --> 00:01:53,720 Speaker 3: generative AI. Surprise, surprise, He actually announced plans to invest 36 00:01:53,760 --> 00:01:58,160 Speaker 3: two hundred billion in CAPEX in this year. Actually largely 37 00:01:58,200 --> 00:02:01,720 Speaker 3: focused on AI, which he calls it once in a generation, 38 00:02:01,800 --> 00:02:03,480 Speaker 3: you know, technological shift. 39 00:02:03,960 --> 00:02:05,800 Speaker 1: They don't deliver books like they used to know. 40 00:02:06,480 --> 00:02:10,000 Speaker 5: They used to be wrapped. You get them perfect in pristine. 41 00:02:10,120 --> 00:02:12,520 Speaker 5: Oh my god, Jeff Bezos, how did you do that? 42 00:02:13,200 --> 00:02:17,040 Speaker 5: And now book after book after book, it's the packaging. 43 00:02:17,280 --> 00:02:20,520 Speaker 4: Here's cappecs numbers time you like Capex, Yeah, twenty twenty 44 00:02:20,520 --> 00:02:24,480 Speaker 4: two Capex for Amazon sixty billion dollars this year two 45 00:02:24,560 --> 00:02:25,160 Speaker 4: hundred billion. 46 00:02:25,200 --> 00:02:29,520 Speaker 1: Is you were just reporting? Seriously, they've changed the economy 47 00:02:30,000 --> 00:02:36,640 Speaker 1: in New Jersey, un Philadelphyeah. Absolutely. Fulfillment centers everywhere. Have 48 00:02:36,760 --> 00:02:39,200 Speaker 1: they set the wage? I think so. 49 00:02:39,320 --> 00:02:41,519 Speaker 4: I think people say, what's some minimum wage? I say 50 00:02:41,600 --> 00:02:43,480 Speaker 4: whatever Amazon's say exactly. 51 00:02:44,360 --> 00:02:46,760 Speaker 1: I can't say enough, folks, the impact here. You're on 52 00:02:46,880 --> 00:02:47,519 Speaker 1: fire today. 53 00:02:47,520 --> 00:02:50,359 Speaker 3: You're all all right, well, let's go three for three 54 00:02:50,440 --> 00:02:51,760 Speaker 3: Constellation brands. 55 00:02:51,960 --> 00:02:53,160 Speaker 1: Okay, this is tech. 56 00:02:54,600 --> 00:02:58,120 Speaker 3: This company is down about one percent or eight down 57 00:02:58,160 --> 00:03:01,840 Speaker 3: eighteen percent over the past year, projected slower than expected 58 00:03:01,840 --> 00:03:05,160 Speaker 3: growth for its beer business. Now, this is the company 59 00:03:05,160 --> 00:03:06,639 Speaker 3: behind Modello and Corona. 60 00:03:06,760 --> 00:03:09,440 Speaker 4: See that a lotdell, You do what? 61 00:03:09,520 --> 00:03:11,960 Speaker 3: Modello is now the top selling beer in the country, 62 00:03:12,160 --> 00:03:16,240 Speaker 3: wand that it unseated bud Light. But still, I mean 63 00:03:16,360 --> 00:03:20,160 Speaker 3: overall the beer category is weakening. And remember Constellation sold 64 00:03:20,160 --> 00:03:22,600 Speaker 3: off several wine brands last year because wine had been 65 00:03:22,720 --> 00:03:26,840 Speaker 3: especially hit hard by the younger generation. Right, younger folks 66 00:03:26,880 --> 00:03:29,400 Speaker 3: not drinking as much, including Line. 67 00:03:29,440 --> 00:03:32,880 Speaker 4: There's all those silly things that the white claws and 68 00:03:33,120 --> 00:03:33,359 Speaker 4: I don't. 69 00:03:33,400 --> 00:03:34,600 Speaker 3: Yeah, I just cannot get into it. 70 00:03:34,880 --> 00:03:40,240 Speaker 5: A few years ago, ten six hundred employees Western New York, Rochester, 71 00:03:41,280 --> 00:03:44,880 Speaker 5: the Sands family started, They're going to We're do like 72 00:03:45,120 --> 00:03:50,320 Speaker 5: a beverage thing. And it started out way back Constellation Brands. 73 00:03:50,560 --> 00:03:51,880 Speaker 1: Oh, is that just started? I didn't. 74 00:03:51,880 --> 00:03:56,320 Speaker 5: I just kept getting more genormous and genormous and this 75 00:03:56,440 --> 00:03:59,600 Speaker 5: is Richard Sands, but it's it's one. 76 00:03:59,520 --> 00:04:00,000 Speaker 1: Of those story. 77 00:04:00,400 --> 00:04:03,720 Speaker 3: It started out and then they became thishemoth of like 78 00:04:04,000 --> 00:04:05,360 Speaker 3: alcohol and alcohol behemoth. 79 00:04:05,440 --> 00:04:07,560 Speaker 5: They are like it gets these having white hots on 80 00:04:09,280 --> 00:04:11,960 Speaker 5: Zweigel white hats, and you know, they said, let's start 81 00:04:12,000 --> 00:04:14,520 Speaker 5: a company where we distribute beverages. 82 00:04:14,600 --> 00:04:14,840 Speaker 1: Yep. 83 00:04:15,040 --> 00:04:17,359 Speaker 3: Yeah, Well their outlook wasn't too grad either. Came in 84 00:04:17,400 --> 00:04:22,240 Speaker 3: below estimates, so market pushing Constellation Brands down, like I said, 85 00:04:22,240 --> 00:04:23,320 Speaker 3: about one percent right now. 86 00:04:24,400 --> 00:04:28,400 Speaker 2: This stock Movers report from Bloomberg Radio. Check back with 87 00:04:28,480 --> 00:04:31,080 Speaker 2: us throughout the day for the latest roundup of companies 88 00:04:31,120 --> 00:04:34,240 Speaker 2: making news on Wall Street and for the latest market 89 00:04:34,279 --> 00:04:38,719 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 90 00:04:38,839 --> 00:04:42,320 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 91 00:04:42,400 --> 00:04:43,880 Speaker 2: the Bloomberg Business app.