WEBVTT - Cipher Google Stake; Intel-Apple Report; Oracle Falls

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

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

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a

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<v Speaker 3>morning when the broader market might be looking for catalysts,

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<v Speaker 3>but Intel seems to keep finding catalysts.

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<v Speaker 1>Good morning, Valerie, Hey, Good morning Nathan. Yes, Intel is

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<v Speaker 1>up for a second session in a row off the

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<v Speaker 1>back of Bloomberg reporting that it has approached Apple about

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<v Speaker 1>securing an investment. Yesterday, it rose six point four percent

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<v Speaker 1>on this report. It's continuing the games this morning, up

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<v Speaker 1>nearly three and a half percent so far in pre

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<v Speaker 1>market trade. Sources have told Bloomberg that the two companies

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<v Speaker 1>have discussed working more closely together. Now this comes in

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<v Speaker 1>the context of the fact that Apple used to use

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<v Speaker 1>Intel chips in its devices. Is that was something that

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<v Speaker 1>they began phasing out twenty twenty and completed in twenty

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<v Speaker 1>twenty three. Now, while the market and investors remained skeptical

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<v Speaker 1>that Apple could once use Intel chips again in its devices,

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<v Speaker 1>there still is treated very positive by the market that

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<v Speaker 1>these two companies are talking about a potential tie up,

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<v Speaker 1>and even.

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<v Speaker 3>Bigger gain this morning than in fact, the biggest gainer

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<v Speaker 3>right now in the pre market Cipher Mining. What's going

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<v Speaker 3>on there?

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<v Speaker 1>Cifer Mining. Okay, this stock is jumping on the back

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<v Speaker 1>of a Google investment, but it's a bit complicated. Let

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<v Speaker 1>me take you through it. Cipher Mining up twelve percent.

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<v Speaker 1>It's a bitcoin miner that is also active in the

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<v Speaker 1>data center space for AI. They signed an AI hosting

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<v Speaker 1>pack with fluid Stack, which is an AI infrastructure platform,

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<v Speaker 1>and Google has agreed to backstop fluid stacks obligations in

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<v Speaker 1>the deal and will also take a five percent stake

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<v Speaker 1>in the company. So, so you got cipher Mining in

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<v Speaker 1>the green this morning. It was up as much as

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<v Speaker 1>twenty two percent this announcement. Google, on the other hand,

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<v Speaker 1>is trading softly, down nearly one percent.

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<v Speaker 3>And I see you've got Oracle back on your radar

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<v Speaker 3>this morning. It's been going into the debt market. How

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<v Speaker 3>our investors taken that?

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<v Speaker 1>Yeah, Oracle always seems to be on our radar this week.

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<v Speaker 1>Stairs are trading softly for a third session in a row,

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<v Speaker 1>down over two percent and last three sessions the stock

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<v Speaker 1>has now fallen around eight percent if you take that

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<v Speaker 1>pre market move into account. But this is all on

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<v Speaker 1>the back of the fact that they tapped the investment

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<v Speaker 1>grade credit market yesterday by borrowing eighteen billion dollars via

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<v Speaker 1>a corporate bond deal, the second largest this year for

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<v Speaker 1>IG credit in the US. It was taken well down

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<v Speaker 1>by the bond market, but equity holders seem to be

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<v Speaker 1>growing a bit more skeptical about the rising debt burden,

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<v Speaker 1>and Redburn actually has initiated coverage of Oracle, and they

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<v Speaker 1>have initiated it with a cell rating, saying that the

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<v Speaker 1>market is maturely overestimating the value of the firm's cloud revenue.

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<v Speaker 1>So Oracle continuing to be on all of our minds

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<v Speaker 1>for the for session in a row. But really this

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<v Speaker 1>move today is unwinding a lot of the optimism from

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<v Speaker 1>Monday session.

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<v Speaker 3>And just quickly, why is hurts on your mind? This morning?

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<v Speaker 1>The rental car company hurts up four and a half percent.

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<v Speaker 1>They announced a two hundred and fifty million dollar senior

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<v Speaker 1>note offering and of private placement that essentially will relieve

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<v Speaker 1>them of a near term debt crunch. And they will

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<v Speaker 1>use that money to pay down their immediate debt obligations

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<v Speaker 1>for twenty twenty five and twenty twenty six. So it's

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<v Speaker 1>looking better for Hertz as a turnaround, but they still

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<v Speaker 1>have a long way to go.

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

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