WEBVTT - Data Storage Companies Get a Boost, Rivian Climbs,  Lamb Weston Plummets

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Carol maser Long with Tim Stanbeck. Let's get a

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<v Speaker 3>look at some of the stocks on the move this week.

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<v Speaker 3>Bloomberg News Equities reporter Jordan Fitzgerald is here in our

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<v Speaker 3>Bloomberg Interactive Brokers studio chip names right or related. We

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<v Speaker 3>definitely were watching them this week for sure.

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<v Speaker 4>Something less delacious than the Epstein files, but still interesting.

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<v Speaker 4>So looking at Micron and SanDisk this week, SanDisk number

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<v Speaker 4>one gainer in the S and P five hundred with

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<v Speaker 4>Micron number five.

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<v Speaker 5>I mean, did we talk about this with you? We did?

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<v Speaker 5>We talked about this yesterday.

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<v Speaker 4>We were a little bit baffled for the year, yes

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<v Speaker 4>was up almost should we say, I've check.

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<v Speaker 5>That Carol's going to look.

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<v Speaker 4>No worries and ask ended the week up fifteen percent,

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<v Speaker 4>Micron up about ten percent. And this comes after Micron's

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<v Speaker 4>results earlier this week and kind of shows that this

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<v Speaker 4>memory and storage system and chip space or subsector within

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<v Speaker 4>the AI space is really kind of thriving. A mid

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<v Speaker 4>more ambiguous signals in the rest of that sector.

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<v Speaker 3>It's just, you know, this whole AI story is where

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<v Speaker 3>now we just hit what our third year of talking

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<v Speaker 3>about it. It's interesting how it continues to evolve. Sand

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<v Speaker 3>Disk is up five hundred and sixty percent.

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<v Speaker 5>It was number one.

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<v Speaker 3>Gainer in the S and P five hundred. That's okay,

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<v Speaker 3>there's no Western Digital is number two, three hundred and

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<v Speaker 3>one percent. You mentioned Micron up to almost two hundred

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<v Speaker 3>and sixteen percent. Years there, I got the two Yeah,

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<v Speaker 3>well done, number five top in the S and P

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<v Speaker 3>five hundred.

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<v Speaker 5>Okay, what about review.

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<v Speaker 4>Rivian kind of came in and surprised me this week.

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<v Speaker 4>It wasn't doing so well last week after it had

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<v Speaker 4>this AI and Autonomy Investor day, traders were I think

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<v Speaker 4>they needed a bit of time to metabolize what they'd

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<v Speaker 4>been told. But now they're full ending on Rivian. Rivian

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<v Speaker 4>up twenty two percent this week. That's the best week

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<v Speaker 4>since January July of last year, and closed at a

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<v Speaker 4>record high or sorry, closed at a two year high.

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<v Speaker 4>And Wedbush's dan Ives boosted his price target from twenty

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<v Speaker 4>five from sixteen dollars to twenty five dollars Today and

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<v Speaker 4>this really comes off the back of what they said

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<v Speaker 4>at this Autonomy day last week. This this push into

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<v Speaker 4>building their own AI chips and getting full self driving out.

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<v Speaker 5>And also traders have.

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<v Speaker 4>Really really been looking forward to Rivian dropping VR two.

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<v Speaker 4>It's their mid size suv. It's supposed to be a

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<v Speaker 4>quote unquote cheaper model, and they think it could really

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<v Speaker 4>change the game. There's not really a lot of cheaper

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<v Speaker 4>EV's in the market. Tesla put theirs out earlier this year,

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<v Speaker 4>and the market kind of said that's not actually like

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<v Speaker 4>cheap enough, and so this could really shake up the sector.

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<v Speaker 3>It's up seventy percent, almost seventy percent year yesday.

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<v Speaker 4>Important to say that Tesla also hit a record high

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<v Speaker 4>this week. So lot's going on in the EV space,

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<v Speaker 4>even as EV demand and is allegedly waning in the US.

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<v Speaker 3>I will say, almost seventeen percent of the float is short,

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<v Speaker 3>so the sentiment on that one.

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<v Speaker 5>And they're not profitable yet right now.

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<v Speaker 4>They're still losing a lot of money.

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<v Speaker 3>But that happened sometimes.

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<v Speaker 1>Okay, So we talked about chips earlier across the pond,

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<v Speaker 1>they called French fries chies.

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<v Speaker 5>You love this story.

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<v Speaker 4>It's a great segue.

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<v Speaker 5>Thank you, thank you, that was all for you, Joran.

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<v Speaker 4>Thank you, Lamb Weston frozen potato product brand, So all

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<v Speaker 4>those frozen French fries, frozen tater tots, stuff like that

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<v Speaker 4>dropped twenty six percent for its worst day since July

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<v Speaker 4>of last year. And that's a twenty seventeen low for

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<v Speaker 4>the stock. So it did come in in one of

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<v Speaker 4>the worst performers week over week, but it's really on

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<v Speaker 4>those losses today. After the company reaffirmed its full year guidance,

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<v Speaker 4>investors had been hoping that guidance would come in on

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<v Speaker 4>the top end of that range, but they maintained this

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<v Speaker 4>this broader one.

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<v Speaker 5>You know, this was one of my decliners.

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<v Speaker 1>And I went back and I looked at the chart

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<v Speaker 1>over the last year, and there were all these days

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<v Speaker 1>where they were like precipitous decline yes in the company's

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<v Speaker 1>share price. It just seems very volatile in that sound

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<v Speaker 1>yes and then it goes back up and then a

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<v Speaker 1>precipitously declined it.

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<v Speaker 4>Yeah, it's an interesting chart. And it's also how many

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<v Speaker 4>frozen potato product brands are in the s and P

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<v Speaker 4>five hundred, like they have a I think a six

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<v Speaker 4>billion dollar market cap and they make kind of one

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<v Speaker 4>kind of product. So I think that maybe if there's

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<v Speaker 4>something going on with potatoes, you're really really liable to sway.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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