WEBVTT - AT&T Will Spend $250 Billion on Network; HP Enterprise Rises; TSMC Sales Jump 30%

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

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<v Speaker 2>This 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 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis. One stock

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<v Speaker 1>making a move this morning, Dan is At and T

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<v Speaker 1>saw a headline about them making a big investment in

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<v Speaker 1>the US.

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<v Speaker 3>Good morning, Good morning, Nathan. That's right. AT and T

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<v Speaker 3>ticker T is down about three tens of a percent

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<v Speaker 3>in the pre market right now. That's as the company

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<v Speaker 3>announced it will spend over two hundred and fifty billion

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<v Speaker 3>dollars in the next five years to build out US connectivity.

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<v Speaker 3>That money we spent on accelerating deployment of five or

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<v Speaker 3>five G home internet, wireless and satellite communications. It also

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<v Speaker 3>said it's hiring thousands of technicians this year alone. There

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<v Speaker 3>is a winner from this deal, stock Ast Space Mobile

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<v Speaker 3>ticker ASTs is up. That's because as part of this

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<v Speaker 3>collect oberation, AT and T will use a s T

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<v Speaker 3>Space mobile and it's and it's already established partnership to

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<v Speaker 3>extend coverage in remote areas.

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<v Speaker 1>All right, Well, that's interesting. Note there another stock making

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<v Speaker 1>move after earnings, HP Enterprise.

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<v Speaker 3>That's right, HPE. Uh. Those shares are up nearly two

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<v Speaker 3>percent in pre market. That's after fiscal first quarter earnings

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<v Speaker 3>beat despite a slight sales miss. Sales estimates for both

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<v Speaker 3>the current quarter and the rest of the fiscal year

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<v Speaker 3>were stronger than Wall Street had expected. HPE is getting

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<v Speaker 3>a boost from demand for its networking products that's driven

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<v Speaker 3>by the AI demand boom. The company has been navigating

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<v Speaker 3>memory chip shortage. This is a big theme in markets

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<v Speaker 3>right now, so HP says it's raised prices between when

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<v Speaker 3>it provides quotes and ships products, and the CEO said

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<v Speaker 3>in an interview it's not done raising prices yet as

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<v Speaker 3>the company sees the memory chip shortage extending into next year.

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<v Speaker 1>Well, speaking of memory chips, we also heard from Taiwan Semiconductor.

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<v Speaker 2>How's that stuck doing?

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<v Speaker 3>Yeah, the ADRs are down, are up about seven tenths

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<v Speaker 3>of a percent under tick our TSM in the pre market.

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<v Speaker 3>The company came out with combined January and February sales

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<v Speaker 3>growth of about thirty percent. February was softer of the two,

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<v Speaker 3>with the growth effect by lunar new year's just kind

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<v Speaker 3>of a calendar adjustment. Estimates for the total quarter is

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<v Speaker 3>about thirty three percent growth, so that's about on track.

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<v Speaker 3>Those shares have been coming in. This is a sign

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<v Speaker 3>of continued AI spending and the results are of course

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<v Speaker 3>for the period right before the irm strike. So there

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<v Speaker 3>is a question mark that remains how geopolitical turbulence is

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<v Speaker 3>going to affect the AI sphere.

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<v Speaker 1>And we're still waiting for one of the big earning

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<v Speaker 1>stories of the week that's coming after the close from Oracle.

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<v Speaker 3>That's right, fiscal third quarter earnings out after the close today.

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<v Speaker 3>T ORCL is up about one point seven percent in

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<v Speaker 3>pre market Right now. Wall Street really watching the cloud

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<v Speaker 3>infrastructure sales. Those are estimated to be four point seven

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<v Speaker 3>billion dollars, nearly eighty percent higher than the previous quarter.

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<v Speaker 3>That is a measure of how they can convert cloud

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<v Speaker 3>bookings customers like open Ai into revenue. Also closely watch

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<v Speaker 3>any guidance on capex. Last month, Oracle said it would

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<v Speaker 3>raised up to fifty billion dollars. That's spend up to

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<v Speaker 3>fifty billion dollars this year. CAPEX for the quarter is

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<v Speaker 3>es maybe fourteen billion dollars. That is about eighty percent

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<v Speaker 3>of the es made revenue overall, a cash outflow of

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<v Speaker 3>seven billion dollars as it really spends big on the

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<v Speaker 3>AI trade.

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

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<v Speaker 2>us throughout the day for the latest roundup of companies

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