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 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a
Speaker 3: morning when the broader market might be looking for catalysts,
Speaker 3: but Intel seems to keep finding catalysts.
Speaker 1: Good morning, Valerie, Hey, Good morning Nathan. Yes, Intel is
Speaker 1: up for a second session in a row off the
Speaker 1: back of Bloomberg reporting that it has approached Apple about
Speaker 1: securing an investment. Yesterday, it rose six point four percent
Speaker 1: on this report. It's continuing the games this morning, up
Speaker 1: nearly three and a half percent so far in pre
Speaker 1: market trade. Sources have told Bloomberg that the two companies
Speaker 1: have discussed working more closely together. Now this comes in
Speaker 1: the context of the fact that Apple used to use
Speaker 1: Intel chips in its devices. Is that was something that
Speaker 1: they began phasing out twenty twenty and completed in twenty
Speaker 1: twenty three. Now, while the market and investors remained skeptical
Speaker 1: that Apple could once use Intel chips again in its devices,
Speaker 1: there still is treated very positive by the market that
Speaker 1: these two companies are talking about a potential tie up,
Speaker 1: and even.
Speaker 3: Bigger gain this morning than in fact, the biggest gainer
Speaker 3: right now in the pre market Cipher Mining. What's going
Speaker 3: on there?
Speaker 1: Cifer Mining. Okay, this stock is jumping on the back
Speaker 1: of a Google investment, but it's a bit complicated. Let
Speaker 1: me take you through it. Cipher Mining up twelve percent.
Speaker 1: It's a bitcoin miner that is also active in the
Speaker 1: data center space for AI. They signed an AI hosting
Speaker 1: pack with fluid Stack, which is an AI infrastructure platform,
Speaker 1: and Google has agreed to backstop fluid stacks obligations in
Speaker 1: the deal and will also take a five percent stake
Speaker 1: in the company. So, so you got cipher Mining in
Speaker 1: the green this morning. It was up as much as
Speaker 1: twenty two percent this announcement. Google, on the other hand,
Speaker 1: is trading softly, down nearly one percent.
Speaker 3: And I see you've got Oracle back on your radar
Speaker 3: this morning. It's been going into the debt market. How
Speaker 3: our investors taken that?
Speaker 1: Yeah, Oracle always seems to be on our radar this week.
Speaker 1: Stairs are trading softly for a third session in a row,
Speaker 1: down over two percent and last three sessions the stock
Speaker 1: has now fallen around eight percent if you take that
Speaker 1: pre market move into account. But this is all on
Speaker 1: the back of the fact that they tapped the investment
Speaker 1: grade credit market yesterday by borrowing eighteen billion dollars via
Speaker 1: a corporate bond deal, the second largest this year for
Speaker 1: IG credit in the US. It was taken well down
Speaker 1: by the bond market, but equity holders seem to be
Speaker 1: growing a bit more skeptical about the rising debt burden,
Speaker 1: and Redburn actually has initiated coverage of Oracle, and they
Speaker 1: have initiated it with a cell rating, saying that the
Speaker 1: market is maturely overestimating the value of the firm's cloud revenue.
Speaker 1: So Oracle continuing to be on all of our minds
Speaker 1: for the for session in a row. But really this
Speaker 1: move today is unwinding a lot of the optimism from
Speaker 1: Monday session.
Speaker 3: And just quickly, why is hurts on your mind? This morning?
Speaker 1: The rental car company hurts up four and a half percent.
Speaker 1: They announced a two hundred and fifty million dollar senior
Speaker 1: note offering and of private placement that essentially will relieve
Speaker 1: them of a near term debt crunch. And they will
Speaker 1: use that money to pay down their immediate debt obligations
Speaker 1: for twenty twenty five and twenty twenty six. So it's
Speaker 1: looking better for Hertz as a turnaround, but they still
Speaker 1: have a long way to go.
Speaker 2: The 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
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