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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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Speaker 1: your roundup of companies making moves in the stock market,

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Speaker 1: harnessing the power of Bloomberg Data.

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Speaker 2: Another down day for the US equity market too in

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Speaker 2: a row, and among today's stock movers Palenteer, Constellation and

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Speaker 2: Hymns and joining us now Bloomberg Cross Asset reporter Emily Graffeo,

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Speaker 2: who is tracking those stocks. Emily got to begin with

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Speaker 2: Palenteer just because of so much interest in this company.

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Speaker 2: What happened with the stock today and just a little

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Speaker 2: bit of background on what this company does and why

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Speaker 2: there is so much investor interest.

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Speaker 3: So the stock closed down twelve percent today. It was

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Speaker 3: the worst drop in about a year. And this is

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Speaker 3: a company that's known for AI and software. They do

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Speaker 3: have the US government and other governments as big customers,

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Speaker 3: but they're also expanding into their commercial business. The reason

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Speaker 3: why investors are paying so much attention to this company.

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Speaker 3: It's a popular retail stock, but this year specifically, it

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Speaker 3: was the best performing stock in the S and P

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Speaker 3: five hundred until today. So Monday it was up sixty

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Speaker 3: eight percent sixty three percent year today, best stock in

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Speaker 3: the SMP it's actually still in the top five, but

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Speaker 3: it erased some of that gain today. The reason why,

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Speaker 3: analysts are kind of pointing to the fact that while

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Speaker 3: its earnings came out the outlook beat, the earnings beat,

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Speaker 3: it just wasn't enough to justify the stock's high valuation

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Speaker 3: and extend these gains. So perhaps a little bit here

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Speaker 3: of selling on the rally, selling on the upward momentum.

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Speaker 3: If you look at what Bloomberg Intelligence said, they were

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Speaker 3: just pointing out that although the company up their revenue

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Speaker 3: forecast for the year and raised their US commercial segment

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Speaker 3: growth expectations to sixty eight percent, the revisions will likely

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Speaker 3: be muted from the other two thirds of the business

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Speaker 3: amid limited traction in their international division. And I actually

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Speaker 3: saw a couple other notes flagging maybe some weakness in

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Speaker 3: the international division there for Pallenteer, but still overall one

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Speaker 3: of the best performers mess in p. Five hundred, even

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Speaker 3: after today's los.

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Speaker 2: All right, Emily Sogo's Pallenteer. What about other AI stocks?

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Speaker 2: Aw their implications here and perhaps further down the road,

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Speaker 2: any implications for in video.

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Speaker 3: Well, everyone's watching this AI trade, and April was a

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Speaker 3: really good month. Charlie for anything that had to do

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Speaker 3: with retail favorites. AI names anything momentum a lot of

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Speaker 3: times on the cross ass team we call high beta.

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Speaker 3: I was reading a note from BTIG and they said

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Speaker 3: that Pallenteer is like the most high profile name at

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Speaker 3: the intersection of retail and the momentum trade. And just

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Speaker 3: like a lot of others, they had a good April,

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Speaker 3: and now traders are kind of waiting to see whether

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Speaker 3: May is going to mean that. I guess some of

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Speaker 3: the wind out of the sale deflates a little bit,

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Speaker 3: just because the trade had run so far so quickly.

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Speaker 2: All right, Well, another big mover, this one to the

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Speaker 2: upside today, Constellation Energy. This is more than just a

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Speaker 2: power company and a power company story. Perhaps can you

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Speaker 2: connect the dots to either artificial intelligence or anything else

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Speaker 2: having to do with technology.

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Speaker 3: So Constellation Energy. It closed up ten percent today. Charlie

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Speaker 3: was the highest level since February twenty one. They analysts

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Speaker 3: noted in their earnings that they're nearing a long term

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Speaker 3: nuclear power deal, so at least the market angle analysts,

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Speaker 3: retail traders. A lot of what I hear is that

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Speaker 3: people like AI, they also like the nuclear theme in

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Speaker 3: the ETF space. Oftentimes, when we see the tech stocks

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Speaker 3: AI stocks rallying, we also see nuclear linked stocks and

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Speaker 3: ETFs also doing well. So that's what we saw at

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Speaker 3: least today with Consolation Energy. People were flagging this excitement

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Speaker 3: around this nuclear power deal which could offset their earnings

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Speaker 3: that actually miss expectations. So first quarter profit IBATAH fell

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Speaker 3: short of expectations, but there does seem to be this excitement.

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Speaker 3: You look at what Jeffrey said. Management made an intriguing

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Speaker 3: and positive statement that they're nearing a long term nuclear

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Speaker 3: power deal. I don't have a ton of the details

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Speaker 3: on this, but again I think it's something investors hear

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Speaker 3: that word nuclear and they get excited. And that's clearly

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Speaker 3: what we saw on the street.

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Speaker 2: Let us switch gears now from nuclear to telehealth talking

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Speaker 2: about Hymns and HER's Health. The stock surge today hims

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Speaker 2: on the ticker what's going on with Hymns and Hers Health.

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Speaker 3: The telehealth company was eighteen percent today. The earnings overall

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Speaker 3: were really good, better than expected first quarter results. Pdcowen

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Speaker 3: said that the earnings were impressive. The revenue came at

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Speaker 3: five hundred and eighty six million versu assessments of five

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Speaker 3: hundred and thirty eight million, and then td Caleen was

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Speaker 3: also flogging. They delivered an outsized first quarter beat with

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Speaker 3: sales up one hundred and eleven percent. I will note, though,

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Speaker 3: a lot of holds on this stock. If you run

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Speaker 3: the an R function on the Bloomberg terminal, it has

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Speaker 3: five buys, nine holes and two cells. But maybe we'll

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Speaker 3: see that change. Really, maybe analysts will get more bullish

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Speaker 3: after this good news on hence here of eighteen percent.

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Speaker 1: the Bloomberg Business app. Mm hmm