Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data. Just take a look
Speaker 1: at some of the stocks on the move today.
Speaker 2: We can do that with Bloomberg's Judy Brood.
Speaker 1: Judy, what are you looking at? Good morning, Paul.
Speaker 2: First and foremost, I'm looking at David Busters tick her play.
Speaker 2: The stock is down as much as sixteen percent. It's
Speaker 2: its biggest drop since September, and this is coming as
Speaker 2: the company is reporting comparable sales for the first quarter
Speaker 2: that miss Wall Street estimates. Analysts at Benchmark Research changed
Speaker 2: their rating from buy to hold. An analyst said that
Speaker 2: there's not enough evidence that exists to support the company's
Speaker 2: confidence that these sales will turn positive for the rest
Speaker 2: of the year. Other analysts shared this negativity amid really
Speaker 2: just a consumer weakness and the headwinds that come as
Speaker 2: a result of that. Never been to a David most, Well,
Speaker 2: it's been a while since you had young kids, So
Speaker 2: there you go. I mean still good for adults. I
Speaker 2: mean definitely the adult who are there on their own.
Speaker 1: I kind of question. This is true, This is true
Speaker 1: front store.
Speaker 2: It's got to be a group that you cannot just
Speaker 2: be wandering.
Speaker 1: Yeah, I got a wonder All right, let's move on
Speaker 1: to some tech names.
Speaker 2: Of course. I'm second is Western Digital ticker w DC.
Speaker 2: The stock is up as by as much as twelve
Speaker 2: percent in trading today. It's currently trading it at all
Speaker 2: time high. There are a number of reasons for this activity.
Speaker 2: First and foremost, Western Digital is cleaning up its balance
Speaker 2: sheet by retiring convertible debt and analysts at Evercore really
Speaker 2: are noticing this de leveraging and they're saying that this
Speaker 2: gives a company more flexibility in buying backstock and paying dividends,
Speaker 2: will simultaneously benefiting from AI and cloud storage demand. More In,
Speaker 2: Stanley also raised its price target on the company to
Speaker 2: six hundred and fifty dollars from four hundred and eighty
Speaker 2: eight dollars, and this is implying a fifteen percent increase
Speaker 2: from the last closing price. And really for Morgan Stanley analysts,
Speaker 2: the focus is that the stock is very much undervalued
Speaker 2: by investors, that there's a growing shortage of hard disk
Speaker 2: drives and that's set to see a really big price
Speaker 2: increase in an increase in demand in the coming years,
Speaker 2: So definitely confidence there SpaceX.
Speaker 1: What's the latest there.
Speaker 2: Sure SpaceX is you know, we're seeing the stock is
Speaker 2: up by as much as seventeen percent in inter day trading,
Speaker 2: that is ticker SPX. And also Bloomberg just reported that
Speaker 2: SpaceX is formally agreed to take over Cursor and AI
Speaker 2: coding startup at sixty billion dollars. So a lot of
Speaker 2: news coming out about SpaceX and you know, again very
Speaker 2: much an interesting stock to keep an eye on for us.
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