Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: 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: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, leading with
Speaker 1: the new because we just got earnings from Dollar General
Speaker 1: crossing the Bloomberg terminal. Dan, how'd we do, morning, Nathan.
Speaker 3: Dollar General is up about three percent in the pre
Speaker 3: market off the back of that underticker DG. Overall is
Speaker 3: a bit of a mix. First quarter earnings out with
Speaker 3: comparable sales at two percent that was slightly shive estimates
Speaker 3: for which were about two point one percent growth Net
Speaker 3: sales also just shive estimates. However, bottom line came in
Speaker 3: ahead of what Wall Street was expecting. The full year
Speaker 3: earnings per share guidance is being lifted by ten pennies
Speaker 3: per share, and that the new midpoint is higher than estimates,
Speaker 3: so that's a positive on the outlook front. The company
Speaker 3: is holding its full year comp vera bole sales growth
Speaker 3: outlook though, so they're expecting a little bit more bottom
Speaker 3: line push through. And then also the company did note
Speaker 3: positive customer traffic and balance category growth. Markets are digesting this.
Speaker 3: Shares have been bouncing around, but we are three percent
Speaker 3: up off the back of that.
Speaker 2: Okay.
Speaker 1: So moving from the earning story to the big stock
Speaker 1: spending story from Google parent Alphabet planning to sell a
Speaker 1: bunch of shares. What's that doing for investors who currently
Speaker 1: have Alphabet stock, Dan, Well.
Speaker 3: It's weighing on their shares now that stock is down
Speaker 3: about two percent underticker Googl in the pre market. You're right,
Speaker 3: absolutely massive rays of cash. The company is looking to
Speaker 3: get eighty billion dollars through equity offerings to fund its
Speaker 3: AI spending spree. Forty billion dollars will be selled by
Speaker 3: selling shares into the second market that's expected next quarter,
Speaker 3: thirty billion in underwritten offerings and ten billion dollars in
Speaker 3: an investment deal with Berkshire Hathaway. Lots of cash raise
Speaker 3: here weighing on the share as you know, they look
Speaker 3: at potential dilution off the back of this, and in
Speaker 3: what could be one of the largest equity deals of
Speaker 3: all times. Alphabet is on an unprecedented spendings free to
Speaker 3: build AI infrastructure and capitalizing on growing appetite for its
Speaker 3: tensor processing units he used at AI and by far
Speaker 3: and away, it's the best performing mag seven stock over
Speaker 3: the past year, so looking to capitalize on that by
Speaker 3: selling some more shares back into the market.
Speaker 1: Well, the best performing stock in this morning's pre market
Speaker 1: is hp Enterprise after their earnings blowout Dan.
Speaker 3: Absolutely, and they've already been doing well into this earnings report.
Speaker 3: HPE is up twenty six percent in the pre market,
Speaker 3: more signs of server demand from AI players, and this
Speaker 3: is after HPE rallied from Dell's earnings last week, so
Speaker 3: just absolute tear. The company is guiding a thirty one
Speaker 3: percent increase in revenue this fiscal year and a ten
Speaker 3: percent increase in the following year. Both outlooks were far
Speaker 3: ahead of analyst estimates, and in particular, giving guidance so
Speaker 3: far out into next fiscal year shows the company has
Speaker 3: visibility on future orders and there's long term demand there.
Speaker 3: Market is greeting that strongly, and as we said, this
Speaker 3: follows Dell, so server demand really propping these stocks up
Speaker 3: in the market.
Speaker 1: And finally, HPE's been going back and forth in the
Speaker 1: pre market with Marvel Technology as the biggest gainer yeah.
Speaker 3: So Jensen Wong is calling Marvel the next trillion dollar company,
Speaker 3: and that has those shares popping twenty four percent. So
Speaker 3: Marvel just a tiny bit behind by went mind owning
Speaker 3: either stock this morning, to be honest. Those comments came
Speaker 3: as he appeared on stage with Marvel CEO at Computeech's
Speaker 3: in Taipei, and Wang noted demand for products from Nvidia
Speaker 3: and Marvel is going through the roof as quote useful
Speaker 3: AI has arrived. Marvel specializes in compute chips and optical
Speaker 3: interconnects and network switches, so basically how all these AI
Speaker 3: data centers handle data being sent across them. Huang noted
Speaker 3: the demand for optical links in general, and other optical
Speaker 3: companies are off the back of that. Names like Momentum
Speaker 3: up six percent, Coherent up over four percent to a
Speaker 3: broad AI rally this morning.
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