Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some of the stocks on
Speaker 1: the move today. On Paul Sweny alongside Scarlett Flum were
Speaker 1: joined by Bloombergs Christina. You know, Christine, what are you
Speaker 1: looking at? We got to take a look at AMD,
Speaker 1: of course, Paul, right, it's the biggest gainer in the
Speaker 1: sp five hundred so shares of that ticker AMD. That's
Speaker 1: up twenty six percent, so peering a little bit of
Speaker 1: those opening games, but that is still on track for
Speaker 1: its biggest one day game since twenty sixteen, if that
Speaker 1: holds through the close. So let's dig into this deal.
Speaker 1: What is it exactly? So bloomerg Intelligence is framing of
Speaker 1: this deal is essentially that open ai is this is
Speaker 1: still a continuation of their efforts to diversify their chip supply, right,
Speaker 1: because we did get earlier on their alliance with Nvidia
Speaker 1: tape gigawatts of capacity. So now the deal with AMD
Speaker 1: is that open ai will deploy six gigawatts of AMD
Speaker 1: graphic processing units GPUs over multiple years and then AMD
Speaker 1: is also giving open Ai a warrant for as many
Speaker 1: as one hundred and sixty million shares at a penny
Speaker 1: apiece that's equivalent to about ten percent of its outstanding stop.
Speaker 1: Now that the best thing that will depend on milestones
Speaker 1: being achieved. But this really looks like a mutually beneficial,
Speaker 1: very profitable, potentially deal for both companies, and the shares
Speaker 1: are reflecting that today for sure. All right, let's also
Speaker 1: take a look at another company, and we're just stay
Speaker 1: in the chip space, but memory chip maker Micron absolutely Scarloss,
Speaker 1: so that's also doing pretty well today. So micro shares
Speaker 1: ticker U. Those shares are up three point nine percent,
Speaker 1: nearly four percent at the moments extending those opening games,
Speaker 1: and we did get Morgan Stanley upgrading the company to
Speaker 1: overweight from equal weight. Analysts they are saying that it
Speaker 1: is headed for multiple quarters of double digit price increases,
Speaker 1: and they're also saying that they're pushing the envelope on valuation,
Speaker 1: but price increases will substantially power their earnings higher. So
Speaker 1: the price are Go get set at two hundred and
Speaker 1: twenty dollars versus one eighty seven at the close on Friday,
Speaker 1: so that implies the seventeen percent increase. Very interesting though,
Speaker 1: the sea change with Micro because just last month we
Speaker 1: did get the results and their forecast for fiscal first
Speaker 1: quart of revenue twelve and a half billion dollars topping estimates,
Speaker 1: but still was deemed disappointing. So maybe that's working its
Speaker 1: way through now in terms of the optimism in this space.
Speaker 1: But those shares are enjoying that today. All right, one more,
Speaker 1: what do again? Let's take it like a Verizon so
Speaker 1: ta sure, viz exactly, and shares not doing too well,
Speaker 1: so they're not necessarily receiving that as good news. Shares
Speaker 1: currently down more than two percent now two point nine percent,
Speaker 1: so extending opening losses. And so they have named Dan
Speaker 1: Selman as the new CEO, who has previously COEO of PayPal.
Speaker 1: But yeah, the real struggled Verizon is really about it
Speaker 1: subscriber numbers. Because you know, they posted a loss of
Speaker 1: fifty one thousand subscribers in July for the second or
Speaker 1: in July, and now said that was for the second quarter.
Speaker 1: Anna as we're saying, they were supposed to gain twelve thousand,
Speaker 1: so big discrepancy there. And get this, they are the
Speaker 1: second big of the big three mobile providers to announce
Speaker 1: a leadership change, following the change that we saw at
Speaker 1: T Mobiles, so lat of sea change in telecom providers
Speaker 1: at the mold.
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