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: Why do you have Alexi?
Speaker 3: I am fired up because there's a big deal here
Speaker 3: between core Weave and Meta. First, I just want to
Speaker 3: say core Weave was up about seven and a half
Speaker 3: percent after what I'm just about to say was announced.
Speaker 3: It's now up just about one percent, so definitely losing
Speaker 3: some steam. But Corewave has struck a twenty one billion
Speaker 3: dollar deal to supply computing power to Meta platforms. These
Speaker 3: two already had a deal, so this is just really
Speaker 3: an expansion. This is going to go through the year
Speaker 3: twenty thirty two. So core Weave will provide AI cloud
Speaker 3: capacity to Meta from multiple data centers, powered in part
Speaker 3: by Nvidia's AI chips. So let's get Nvidia in there too, right.
Speaker 3: Of course, it builds on that fourteen billion dollar agreement
Speaker 3: the companies had previously reached that ran through twenty thirty one.
Speaker 1: Okay, I'm lost Livingston, New Jersey. Love it. Five hundred
Speaker 1: and fifty employees. This is not a Dow Jones Industrial
Speaker 1: average component is no.
Speaker 4: But they've got some awesome technology. I'm just that's what
Speaker 4: man Deep tells me. He says they've got awesome technology.
Speaker 4: On agran is telling me the same thing. So, yeah, Livingston,
Speaker 4: New Jersey, great spot there, but yeah, that's the tech
Speaker 4: people want.
Speaker 3: So this core weef, Yeah, that is all in on
Speaker 3: core weave. All right, let's move over to Amazon. It's
Speaker 3: up one and a half percent here This morning, Andy Jasse,
Speaker 3: the CEO, out with the company's annual shareholder letter. There's
Speaker 3: a bunch of nuggets in there. He said that the
Speaker 3: company would use the next year to focus on expanding
Speaker 3: rural delivery. They're going to invest heavily in robotics and
Speaker 3: generative AI. Surprise, surprise, He actually announced plans to invest
Speaker 3: two hundred billion in CAPEX in this year. Actually largely
Speaker 3: focused on AI, which he calls it once in a generation,
Speaker 3: you know, technological shift.
Speaker 1: They don't deliver books like they used to know.
Speaker 5: They used to be wrapped. You get them perfect in pristine.
Speaker 5: Oh my god, Jeff Bezos, how did you do that?
Speaker 5: And now book after book after book, it's the packaging.
Speaker 4: Here's cappecs numbers time you like Capex, Yeah, twenty twenty
Speaker 4: two Capex for Amazon sixty billion dollars this year two
Speaker 4: hundred billion.
Speaker 1: Is you were just reporting? Seriously, they've changed the economy
Speaker 1: in New Jersey, un Philadelphyeah. Absolutely. Fulfillment centers everywhere. Have
Speaker 1: they set the wage? I think so.
Speaker 4: I think people say, what's some minimum wage? I say
Speaker 4: whatever Amazon's say exactly.
Speaker 1: I can't say enough, folks, the impact here. You're on
Speaker 1: fire today.
Speaker 3: You're all all right, well, let's go three for three
Speaker 3: Constellation brands.
Speaker 1: Okay, this is tech.
Speaker 3: This company is down about one percent or eight down
Speaker 3: eighteen percent over the past year, projected slower than expected
Speaker 3: growth for its beer business. Now, this is the company
Speaker 3: behind Modello and Corona.
Speaker 4: See that a lotdell, You do what?
Speaker 3: Modello is now the top selling beer in the country,
Speaker 3: wand that it unseated bud Light. But still, I mean
Speaker 3: overall the beer category is weakening. And remember Constellation sold
Speaker 3: off several wine brands last year because wine had been
Speaker 3: especially hit hard by the younger generation. Right, younger folks
Speaker 3: not drinking as much, including Line.
Speaker 4: There's all those silly things that the white claws and
Speaker 4: I don't.
Speaker 3: Yeah, I just cannot get into it.
Speaker 5: A few years ago, ten six hundred employees Western New York, Rochester,
Speaker 5: the Sands family started, They're going to We're do like
Speaker 5: a beverage thing. And it started out way back Constellation Brands.
Speaker 1: Oh, is that just started? I didn't.
Speaker 5: I just kept getting more genormous and genormous and this
Speaker 5: is Richard Sands, but it's it's one.
Speaker 1: Of those story.
Speaker 3: It started out and then they became thishemoth of like
Speaker 3: alcohol and alcohol behemoth.
Speaker 5: They are like it gets these having white hots on
Speaker 5: Zweigel white hats, and you know, they said, let's start
Speaker 5: a company where we distribute beverages.
Speaker 1: Yep.
Speaker 3: Yeah, Well their outlook wasn't too grad either. Came in
Speaker 3: below estimates, so market pushing Constellation Brands down, like I said,
Speaker 3: about one percent right now.
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
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.