WEBVTT - SpaceX Rises, Rackspace Technology Surges, Netflix Drops on Semafor Report

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

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

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data. Let's

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<v Speaker 2>take a look at some of the stocks on the

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<v Speaker 2>move today. We're joining by Judy LaGrue.

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<v Speaker 1>Judy, what are you looking at today?

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<v Speaker 3>Good morning, Paul. I'm looking at SpaceX ticker SPCX. Again,

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<v Speaker 3>the stock is up as much as eight percent right now,

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<v Speaker 3>and of course this is on the heels of the

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<v Speaker 3>Cursor takeover announcement. But one thing I noticed in my

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<v Speaker 3>research here is that our equity team noted that SpaceX

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<v Speaker 3>is up, yes, but space linked names are down today.

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<v Speaker 3>So space infrastructure firm Red Wire ticker RDW is down

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<v Speaker 3>about eight percent. Spacecraft maker Firefly Aerospace ticker fly is

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<v Speaker 3>now down about seven percent. So again, really interesting movement,

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<v Speaker 3>That's what I'm looking at for sure.

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<v Speaker 1>Right, of course, we have to keep our eye on

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<v Speaker 1>that one, because it's been a straight shot up since

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<v Speaker 1>someone even say, taken off like a rocket since its hibo.

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<v Speaker 1>All right, let's stay in the tech space. What else

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<v Speaker 1>do you have?

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<v Speaker 3>So a Rax Space Technology ticker r XT. The stock

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<v Speaker 3>is up currently right now at about eleven percent. It's

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<v Speaker 3>up as much as twenty one percent in trading today.

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<v Speaker 3>The company did two things right. One, finalized a deal

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<v Speaker 3>to use chips from Advanced micro Devices in its data centers,

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<v Speaker 3>so that's a really big deal for them. And second,

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<v Speaker 3>the company approved a fifteen percent cut of its global workforce,

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<v Speaker 3>so they're expecting to realize as much as eighty five

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<v Speaker 3>million in annual savings from this move. So I'm definitely

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<v Speaker 3>looking at that company as well.

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<v Speaker 2>Right.

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<v Speaker 3>One more sure, Netflix, and I find this story to

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<v Speaker 3>be really fascinating here. The news came out well first

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<v Speaker 3>ticker NFLX, that is Netflix, and the stock is down

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<v Speaker 3>by as much as four percent in trading today. And

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<v Speaker 3>this is coming off the heels of a Semaphore report

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<v Speaker 3>that Netflix lost out to Fox to buy Roku. And also,

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<v Speaker 3>according to Semaphore, Netflix is one of a number of

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<v Speaker 3>companies interested in buying Lionsgate. So again, all of this

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<v Speaker 3>movement is really I'm looking at this, this downward movement

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<v Speaker 3>for Netflix.

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<v Speaker 2>The 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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