1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,520 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,239 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,119 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:18,120 --> 00:00:21,239 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a 6 00:00:21,280 --> 00:00:23,720 Speaker 3: morning when the broader market might be looking for catalysts, 7 00:00:23,720 --> 00:00:26,880 Speaker 3: but Intel seems to keep finding catalysts. 8 00:00:27,000 --> 00:00:30,159 Speaker 1: Good morning, Valerie, Hey, Good morning Nathan. Yes, Intel is 9 00:00:30,240 --> 00:00:33,040 Speaker 1: up for a second session in a row off the 10 00:00:33,120 --> 00:00:36,960 Speaker 1: back of Bloomberg reporting that it has approached Apple about 11 00:00:37,040 --> 00:00:40,360 Speaker 1: securing an investment. Yesterday, it rose six point four percent 12 00:00:41,000 --> 00:00:44,159 Speaker 1: on this report. It's continuing the games this morning, up 13 00:00:44,200 --> 00:00:46,919 Speaker 1: nearly three and a half percent so far in pre 14 00:00:47,000 --> 00:00:51,080 Speaker 1: market trade. Sources have told Bloomberg that the two companies 15 00:00:51,159 --> 00:00:54,880 Speaker 1: have discussed working more closely together. Now this comes in 16 00:00:54,960 --> 00:00:57,959 Speaker 1: the context of the fact that Apple used to use 17 00:00:58,040 --> 00:01:00,920 Speaker 1: Intel chips in its devices. Is that was something that 18 00:01:00,960 --> 00:01:04,479 Speaker 1: they began phasing out twenty twenty and completed in twenty 19 00:01:04,520 --> 00:01:08,440 Speaker 1: twenty three. Now, while the market and investors remained skeptical 20 00:01:08,480 --> 00:01:12,200 Speaker 1: that Apple could once use Intel chips again in its devices, 21 00:01:12,240 --> 00:01:15,440 Speaker 1: there still is treated very positive by the market that 22 00:01:15,480 --> 00:01:18,080 Speaker 1: these two companies are talking about a potential tie up, 23 00:01:18,640 --> 00:01:19,880 Speaker 1: and even. 24 00:01:19,880 --> 00:01:22,840 Speaker 3: Bigger gain this morning than in fact, the biggest gainer 25 00:01:23,319 --> 00:01:27,000 Speaker 3: right now in the pre market Cipher Mining. What's going 26 00:01:27,040 --> 00:01:27,440 Speaker 3: on there? 27 00:01:27,920 --> 00:01:31,319 Speaker 1: Cifer Mining. Okay, this stock is jumping on the back 28 00:01:31,440 --> 00:01:33,840 Speaker 1: of a Google investment, but it's a bit complicated. Let 29 00:01:33,880 --> 00:01:36,680 Speaker 1: me take you through it. Cipher Mining up twelve percent. 30 00:01:36,800 --> 00:01:40,360 Speaker 1: It's a bitcoin miner that is also active in the 31 00:01:40,440 --> 00:01:43,520 Speaker 1: data center space for AI. They signed an AI hosting 32 00:01:43,600 --> 00:01:46,800 Speaker 1: pack with fluid Stack, which is an AI infrastructure platform, 33 00:01:47,080 --> 00:01:50,640 Speaker 1: and Google has agreed to backstop fluid stacks obligations in 34 00:01:50,680 --> 00:01:53,360 Speaker 1: the deal and will also take a five percent stake 35 00:01:53,480 --> 00:01:56,240 Speaker 1: in the company. So, so you got cipher Mining in 36 00:01:56,360 --> 00:01:58,200 Speaker 1: the green this morning. It was up as much as 37 00:01:58,240 --> 00:02:01,800 Speaker 1: twenty two percent this announcement. Google, on the other hand, 38 00:02:01,840 --> 00:02:04,480 Speaker 1: is trading softly, down nearly one percent. 39 00:02:05,440 --> 00:02:08,400 Speaker 3: And I see you've got Oracle back on your radar 40 00:02:08,560 --> 00:02:12,079 Speaker 3: this morning. It's been going into the debt market. How 41 00:02:12,080 --> 00:02:13,160 Speaker 3: our investors taken that? 42 00:02:13,720 --> 00:02:16,560 Speaker 1: Yeah, Oracle always seems to be on our radar this week. 43 00:02:16,639 --> 00:02:19,680 Speaker 1: Stairs are trading softly for a third session in a row, 44 00:02:19,800 --> 00:02:23,360 Speaker 1: down over two percent and last three sessions the stock 45 00:02:23,400 --> 00:02:25,680 Speaker 1: has now fallen around eight percent if you take that 46 00:02:25,760 --> 00:02:28,400 Speaker 1: pre market move into account. But this is all on 47 00:02:28,440 --> 00:02:31,000 Speaker 1: the back of the fact that they tapped the investment 48 00:02:31,040 --> 00:02:35,399 Speaker 1: grade credit market yesterday by borrowing eighteen billion dollars via 49 00:02:35,400 --> 00:02:38,880 Speaker 1: a corporate bond deal, the second largest this year for 50 00:02:39,080 --> 00:02:42,840 Speaker 1: IG credit in the US. It was taken well down 51 00:02:43,080 --> 00:02:45,560 Speaker 1: by the bond market, but equity holders seem to be 52 00:02:45,560 --> 00:02:48,720 Speaker 1: growing a bit more skeptical about the rising debt burden, 53 00:02:48,760 --> 00:02:53,720 Speaker 1: and Redburn actually has initiated coverage of Oracle, and they 54 00:02:53,880 --> 00:02:56,440 Speaker 1: have initiated it with a cell rating, saying that the 55 00:02:56,440 --> 00:03:00,760 Speaker 1: market is maturely overestimating the value of the firm's cloud revenue. 56 00:03:00,800 --> 00:03:04,080 Speaker 1: So Oracle continuing to be on all of our minds 57 00:03:04,320 --> 00:03:06,760 Speaker 1: for the for session in a row. But really this 58 00:03:06,880 --> 00:03:10,200 Speaker 1: move today is unwinding a lot of the optimism from 59 00:03:10,280 --> 00:03:11,160 Speaker 1: Monday session. 60 00:03:11,600 --> 00:03:14,160 Speaker 3: And just quickly, why is hurts on your mind? This morning? 61 00:03:14,880 --> 00:03:17,400 Speaker 1: The rental car company hurts up four and a half percent. 62 00:03:17,600 --> 00:03:21,200 Speaker 1: They announced a two hundred and fifty million dollar senior 63 00:03:21,280 --> 00:03:24,360 Speaker 1: note offering and of private placement that essentially will relieve 64 00:03:24,440 --> 00:03:27,320 Speaker 1: them of a near term debt crunch. And they will 65 00:03:27,400 --> 00:03:30,840 Speaker 1: use that money to pay down their immediate debt obligations 66 00:03:30,880 --> 00:03:33,079 Speaker 1: for twenty twenty five and twenty twenty six. So it's 67 00:03:33,080 --> 00:03:35,720 Speaker 1: looking better for Hertz as a turnaround, but they still 68 00:03:35,760 --> 00:03:37,000 Speaker 1: have a long way to go. 69 00:03:38,000 --> 00:03:42,040 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 70 00:03:42,120 --> 00:03:44,640 Speaker 2: us throughout the day for the latest roundup of companies 71 00:03:44,760 --> 00:03:47,880 Speaker 2: making news on Wall Street and for the latest market 72 00:03:47,880 --> 00:03:52,360 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 73 00:03:52,440 --> 00:03:55,960 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 74 00:03:56,000 --> 00:03:57,520 Speaker 2: the Bloomberg Business app.