Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This Stock Movers report, your roundup of companies making moves
Speaker 2: in 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. One stock
Speaker 1: making a move this morning, Dan is At and T
Speaker 1: saw a headline about them making a big investment in
Speaker 1: the US.
Speaker 3: Good morning, Good morning, Nathan. That's right. AT and T
Speaker 3: ticker T is down about three tens of a percent
Speaker 3: in the pre market right now. That's as the company
Speaker 3: announced it will spend over two hundred and fifty billion
Speaker 3: dollars in the next five years to build out US connectivity.
Speaker 3: That money we spent on accelerating deployment of five or
Speaker 3: five G home internet, wireless and satellite communications. It also
Speaker 3: said it's hiring thousands of technicians this year alone. There
Speaker 3: is a winner from this deal, stock Ast Space Mobile
Speaker 3: ticker ASTs is up. That's because as part of this
Speaker 3: collect oberation, AT and T will use a s T
Speaker 3: Space mobile and it's and it's already established partnership to
Speaker 3: extend coverage in remote areas.
Speaker 1: All right, Well, that's interesting. Note there another stock making
Speaker 1: move after earnings, HP Enterprise.
Speaker 3: That's right, HPE. Uh. Those shares are up nearly two
Speaker 3: percent in pre market. That's after fiscal first quarter earnings
Speaker 3: beat despite a slight sales miss. Sales estimates for both
Speaker 3: the current quarter and the rest of the fiscal year
Speaker 3: were stronger than Wall Street had expected. HPE is getting
Speaker 3: a boost from demand for its networking products that's driven
Speaker 3: by the AI demand boom. The company has been navigating
Speaker 3: memory chip shortage. This is a big theme in markets
Speaker 3: right now, so HP says it's raised prices between when
Speaker 3: it provides quotes and ships products, and the CEO said
Speaker 3: in an interview it's not done raising prices yet as
Speaker 3: the company sees the memory chip shortage extending into next year.
Speaker 1: Well, speaking of memory chips, we also heard from Taiwan Semiconductor.
Speaker 2: How's that stuck doing?
Speaker 3: Yeah, the ADRs are down, are up about seven tenths
Speaker 3: of a percent under tick our TSM in the pre market.
Speaker 3: The company came out with combined January and February sales
Speaker 3: growth of about thirty percent. February was softer of the two,
Speaker 3: with the growth effect by lunar new year's just kind
Speaker 3: of a calendar adjustment. Estimates for the total quarter is
Speaker 3: about thirty three percent growth, so that's about on track.
Speaker 3: Those shares have been coming in. This is a sign
Speaker 3: of continued AI spending and the results are of course
Speaker 3: for the period right before the irm strike. So there
Speaker 3: is a question mark that remains how geopolitical turbulence is
Speaker 3: going to affect the AI sphere.
Speaker 1: And we're still waiting for one of the big earning
Speaker 1: stories of the week that's coming after the close from Oracle.
Speaker 3: That's right, fiscal third quarter earnings out after the close today.
Speaker 3: T ORCL is up about one point seven percent in
Speaker 3: pre market Right now. Wall Street really watching the cloud
Speaker 3: infrastructure sales. Those are estimated to be four point seven
Speaker 3: billion dollars, nearly eighty percent higher than the previous quarter.
Speaker 3: That is a measure of how they can convert cloud
Speaker 3: bookings customers like open Ai into revenue. Also closely watch
Speaker 3: any guidance on capex. Last month, Oracle said it would
Speaker 3: raised up to fifty billion dollars. That's spend up to
Speaker 3: fifty billion dollars this year. CAPEX for the quarter is
Speaker 3: es maybe fourteen billion dollars. That is about eighty percent
Speaker 3: of the es made revenue overall, a cash outflow of
Speaker 3: seven billion dollars as it really spends big on the
Speaker 3: AI trade.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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