Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: I'm Carol Masser along with Tim Stanovick. Let's get to
Speaker 1: some stocks on the move. Bloomberg News crossouse at reporter
Speaker 1: Isabell Lee. She's in the house. Where shall we begin?
Speaker 3: We can begin with Micron, ticker is MU because it
Speaker 3: reported earnings and the stock is actually rising by thirteen
Speaker 3: and a half percent. It paired back some of those gains,
Speaker 3: but still those are double digit gains. And micro is
Speaker 3: the largestys maker of computer memory chips, and they gave
Speaker 3: an upbeat forecast for the current quarter, again the sign
Speaker 3: that surging demand and supply shortages are really allowing the
Speaker 3: company to charge more for their products.
Speaker 1: Six percent, six percent. I think it's up thirteen bucks,
Speaker 1: but up sick?
Speaker 3: You are right? Yes, sorry, I just get car No, no, no, no,
Speaker 3: you're just.
Speaker 1: I was like, whoa, what did they say?
Speaker 3: Makes six percent? Okay, thank you for that on air
Speaker 3: adjustment correction. So you know it's horrible.
Speaker 1: We want to make sure our team effort that's true.
Speaker 3: So this is said that.
Speaker 4: Fortunately, I'm never wrong, you were convinced.
Speaker 1: Fortunately, I am always wrong.
Speaker 3: Okay. The company said it's positioned to be about essential
Speaker 3: AI enabler. So again, the stock row six percent in
Speaker 3: late trading, but it's already up one hundred and sixty
Speaker 3: eight percent this year.
Speaker 1: I know, I know, I am blown away. We had
Speaker 1: a great conversation with a member of our BI team
Speaker 1: and he talked, specifically Jake Silverman, about how the supply
Speaker 1: demand metrics are off, and so because there's so much
Speaker 1: demand not enough supply, they're able to charge a lot
Speaker 1: more for some of the chips that people want, and
Speaker 1: so that's why you see revenues up, you see their
Speaker 1: their margins. Yeah, it's pretty impressive.
Speaker 3: Okay, okay, you want to go to Medline.
Speaker 4: I want to go to Medline because search I read.
Speaker 1: Your mind will not correct you anymore.
Speaker 3: No, please do if need be, But hopefully so. It's
Speaker 3: the first step trading for Medline. They're a medical supplier.
Speaker 3: Share surch for to one percent and their trading debut,
Speaker 3: and this comes after the company raised more than six
Speaker 3: billion dollars in what is the year's biggest IPO, which
Speaker 3: is impressive or maybe for some people. Maybe not quite
Speaker 3: because it's not like we saw a ton, but still
Speaker 3: it's a superlative. So Medline counts Blackstone and Carlisle among
Speaker 3: their backers, and they sold north of two hundred and
Speaker 3: sixteen million shares in an upside offering that price really
Speaker 3: at the top end of their range. So the trading
Speaker 3: gives the company a market value of around fifty one
Speaker 3: billion dollars. And Medline manufacturers and distributes medical supplies like gloves, gowns,
Speaker 3: exam tables, all things that are important.
Speaker 4: Don't you love this swaddle blanket?
Speaker 3: Really?
Speaker 4: Oh yeah, the one.
Speaker 1: That you see in you bring your baby's home in.
Speaker 4: You bring your baby's home in, and the I supproted.
Speaker 4: I just found get as many of those as you
Speaker 4: can from the hospital, be forty dollars, Like I was
Speaker 4: going to, yeah, have a few.
Speaker 1: Yeah, it's like that, like the sweetest thing, and it's
Speaker 1: just you know, I try, but you know, I just
Speaker 1: thought it's like a sweet memory. You know what I
Speaker 1: love about this In a world where all we talk
Speaker 1: about is AI and like high tech, and that's true,
Speaker 1: it's just like kind of a you know, they make.
Speaker 3: A classic, like they don't never go wings right, and
Speaker 3: it's just interesting to see this come out of the
Speaker 3: gates so strong.
Speaker 4: I mean, I think many would argue that it's a
Speaker 4: growing business because uh, medical costs continue to just grow
Speaker 4: and give it an aging population. That's perhaps part of
Speaker 4: the bookcase.
Speaker 1: You need this stuff right, And as we found out,
Speaker 1: remain Bostic apparently like swipes the pj's at the hospital,
Speaker 1: the hospital down or the hospital what they wear. I need.
Speaker 3: I'm not going to wear those even comfy.
Speaker 1: But okay, actually I have to say I remember a
Speaker 1: family member being the hospital and we're like, can we
Speaker 1: have some of those?
Speaker 4: They were really nice and.
Speaker 1: They were like they worked with a designer to like
Speaker 1: create these really.
Speaker 4: Cool and being told to move on. Yeah, we probably
Speaker 4: don't have time three more, but I want pick.
Speaker 3: Your favorite General Mills rows three and a half percent.
Speaker 1: I know.
Speaker 3: So after the earning speat expectations, a highlight was the
Speaker 3: positive volume growth in North America retail segments. So this
Speaker 3: is kind of like a nuance story because the CEO
Speaker 3: said North American consumers are buying food when they go
Speaker 3: on sale. So again, it just really emphasizes that households
Speaker 3: are feeling pinched and no companies them included weren't offering
Speaker 3: bigger discounts or more frequent discounts. It's just that whenever
Speaker 3: they go on sale, people buy more and more. And
Speaker 3: in an effort to boot sales, they've lowered their prices
Speaker 3: across two thirds of their North American retail business. And
Speaker 3: when they did slash prices, that's when they saw an
Speaker 3: increase in volume. One thing that didn't do well is cereal,
Speaker 3: which I love anyway, The company said, more and more
Speaker 3: people are looking to just consume protein, protein protein. And
Speaker 3: remember there's cheerios with hire protein. They expect that to
Speaker 3: be around one hundred billion dollars one hundred million with
Speaker 3: an M dollars cheers every morning.
Speaker 4: Wait, no, cheer throughout the day?
Speaker 1: Well look great, Oh thank you. Oh you know my
Speaker 1: favorite person is a bellig No. But you know what
Speaker 1: it's also supposed to be good for. I think is
Speaker 1: a cholesterol or something. There's certain things you cheerios, I think,
Speaker 1: so yeah, yeah, it's like one of those foods that
Speaker 1: they recommend. So I just figure out I'll just munch
Speaker 1: a little bit, you know in the morning.
Speaker 3: Wow, I know, Tim, and I shall do it tomorrow morning.
Speaker 2: The stock movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street, and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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