WEBVTT - Dave & Buster's Sinks, Western Digital Rises, SpaceX Gains on Cursor Takeover Days After IPO

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data. Just take a look

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<v Speaker 1>at some of the stocks on the move today.

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<v Speaker 2>We can do that with Bloomberg's Judy Brood.

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<v Speaker 1>Judy, what are you looking at? Good morning, Paul.

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<v Speaker 2>First and foremost, I'm looking at David Busters tick her play.

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<v Speaker 2>The stock is down as much as sixteen percent. It's

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<v Speaker 2>its biggest drop since September, and this is coming as

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<v Speaker 2>the company is reporting comparable sales for the first quarter

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<v Speaker 2>that miss Wall Street estimates. Analysts at Benchmark Research changed

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<v Speaker 2>their rating from buy to hold. An analyst said that

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<v Speaker 2>there's not enough evidence that exists to support the company's

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<v Speaker 2>confidence that these sales will turn positive for the rest

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<v Speaker 2>of the year. Other analysts shared this negativity amid really

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<v Speaker 2>just a consumer weakness and the headwinds that come as

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<v Speaker 2>a result of that. Never been to a David most, Well,

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<v Speaker 2>it's been a while since you had young kids, So

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<v Speaker 2>there you go. I mean still good for adults. I

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<v Speaker 2>mean definitely the adult who are there on their own.

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<v Speaker 1>I kind of question. This is true, This is true

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<v Speaker 1>front store.

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<v Speaker 2>It's got to be a group that you cannot just

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<v Speaker 2>be wandering.

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<v Speaker 1>Yeah, I got a wonder All right, let's move on

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<v Speaker 1>to some tech names.

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<v Speaker 2>Of course. I'm second is Western Digital ticker w DC.

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<v Speaker 2>The stock is up as by as much as twelve

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<v Speaker 2>percent in trading today. It's currently trading it at all

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<v Speaker 2>time high. There are a number of reasons for this activity.

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<v Speaker 2>First and foremost, Western Digital is cleaning up its balance

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<v Speaker 2>sheet by retiring convertible debt and analysts at Evercore really

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<v Speaker 2>are noticing this de leveraging and they're saying that this

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<v Speaker 2>gives a company more flexibility in buying backstock and paying dividends,

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<v Speaker 2>will simultaneously benefiting from AI and cloud storage demand. More In,

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<v Speaker 2>Stanley also raised its price target on the company to

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<v Speaker 2>six hundred and fifty dollars from four hundred and eighty

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<v Speaker 2>eight dollars, and this is implying a fifteen percent increase

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<v Speaker 2>from the last closing price. And really for Morgan Stanley analysts,

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<v Speaker 2>the focus is that the stock is very much undervalued

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<v Speaker 2>by investors, that there's a growing shortage of hard disk

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<v Speaker 2>drives and that's set to see a really big price

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<v Speaker 2>increase in an increase in demand in the coming years,

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<v Speaker 2>So definitely confidence there SpaceX.

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<v Speaker 1>What's the latest there.

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<v Speaker 2>Sure SpaceX is you know, we're seeing the stock is

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<v Speaker 2>up by as much as seventeen percent in inter day trading,

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<v Speaker 2>that is ticker SPX. And also Bloomberg just reported that

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<v Speaker 2>SpaceX is formally agreed to take over Cursor and AI

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<v Speaker 2>coding startup at sixty billion dollars. So a lot of

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<v Speaker 2>news coming out about SpaceX and you know, again very

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<v Speaker 2>much an interesting stock to keep an eye on for us.

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<v Speaker 1>The Stock Movers Report from Bloomberg Radio. Check back with

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