WEBVTT - Micron Jumps, Constellation Brands Rises; CF Industries Falls

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

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Carol Master a longer Tim Stenwick. Let's get to

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<v Speaker 1>some stocks on the moon Bloomberg News process. A reporter

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<v Speaker 1>Isabell Lee is in the house. Where should we begin.

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<v Speaker 1>Let's start with c.

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<v Speaker 3>IF Industry is a very sexy fertilizer company. It's interesting

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<v Speaker 3>because the stock fluctuated throughout the day, at one point

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<v Speaker 3>dropping as much as five percent, but it ended in

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<v Speaker 3>the green, up by two point seven percent. So it

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<v Speaker 3>initially dropped because Muzoo Securities cut its recommendation to underperform

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<v Speaker 3>from mutual and that's after the stock price rallied on

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<v Speaker 3>expected growth in demand and prices. So basically, the analyst

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<v Speaker 3>said that the recent share rally was overdone, and they

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<v Speaker 3>said that other fertilizer stocks have already started to give

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<v Speaker 3>up some gains. So I feel like he thinks that

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<v Speaker 3>it's overvalued, but I don't know. Maybe the stock is like, no,

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<v Speaker 3>you know, I'm going to rally and now it's closed

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<v Speaker 3>in the green. And see if Industry shares are up

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<v Speaker 3>by more than sixty percent throughout the year.

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<v Speaker 4>Yeah, they've definitely been on the move, I mean, and

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<v Speaker 4>part of this, right is forgive me right. We've also

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<v Speaker 4>talked a lot about I think what's going on in

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<v Speaker 4>the Middle East war, higher costs of product, less supply,

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<v Speaker 4>and so that typically bides well for our company, like

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<v Speaker 4>CF industry.

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<v Speaker 1>So interesting though to see.

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<v Speaker 4>Yeah, all that going on, but it has been on

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<v Speaker 4>such a tear.

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<v Speaker 3>It's been on such a tear. And the analysts also

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<v Speaker 3>said that they believe impact would be less than expected

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<v Speaker 3>because most farmers have already purchase or prepaid their nitrogen

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<v Speaker 3>needs for upcoming planting season. I feel like it's almost

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<v Speaker 3>the same. Even with airlines. We talk about that, right, like, yeah,

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<v Speaker 3>people rushing to buy plane tickets before they just increase

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<v Speaker 3>in price. I should do that too, we.

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<v Speaker 1>Too, We have to do that as well. Okay, let's

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<v Speaker 1>talk about drinking.

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<v Speaker 3>Drinking, Okay, Constellation, the non banker tickers.

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<v Speaker 1>St problem for Constellation.

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<v Speaker 3>I know, higher verse three times one percent. I don't

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<v Speaker 3>drink too, Actually, you don't drink at all. No, Like

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<v Speaker 3>in my wedding, I didn't drink. I don't like the

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<v Speaker 3>taste of it.

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<v Speaker 4>Oh, none of it, none of I'm not judgings.

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<v Speaker 1>There's a lot of you folks out there. That's the challenge.

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<v Speaker 3>That's a challenge. City raised the recommendation to buy from neutral.

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<v Speaker 4>Look Bergs sliding up? What's wrong with those people? No,

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<v Speaker 4>you're just kidding, just kidding.

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<v Speaker 3>They cited a beer top line acceleration and evaluation that's

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<v Speaker 3>below historical levels, and they said that positive depletions in

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<v Speaker 3>the fourth quarter, that's what they expect after four quarters

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<v Speaker 3>of negative depletions. So I guess the bad will be

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<v Speaker 3>less badly, all right, So Kim and I will drink

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<v Speaker 3>one day and it's not good.

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<v Speaker 1>I just know it's okay.

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<v Speaker 4>It's actually I think they're finding their rethinking that even

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<v Speaker 4>they used to think, say, you know, a glass of wine, okay,

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<v Speaker 4>But I think people are rethinking some of the studies.

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<v Speaker 4>Let's go to Macy's which was on a tear tickers M.

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<v Speaker 3>Ticker is M. It's one of those rare stocks with

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<v Speaker 3>just a one letter tickers. Doc is up by four

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<v Speaker 3>point eight percent. They close higher.

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<v Speaker 1>Basically, the CEO basically.

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<v Speaker 3>They're benefiting from really just a still resilient, wealthy consumer.

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<v Speaker 3>So they reported better than I expect. That adjusted EPs

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<v Speaker 3>and sales for the fourth quarter, and they gave guidance

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<v Speaker 3>that was more encouraging. The CEO said that they see

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<v Speaker 3>resilient customer base, especially for middle to upper income and

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<v Speaker 3>I feel like that's when this story. Middle and number

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<v Speaker 3>income people keep on shopping and shopping and shopping and spending,

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<v Speaker 3>and those lower income consumers are the ones who feel pressure.

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<v Speaker 3>And that's what he says also, And I feel like

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<v Speaker 3>it's the K shape economy as everyone has been saying,

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<v Speaker 3>I'm tired of buying stuff.

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<v Speaker 5>Well, are you interested in buying anything from Micron right

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<v Speaker 5>now to get in live?

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<v Speaker 1>I may not, but everybody else is seems yeah.

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<v Speaker 5>Looking at a Micron in the after hour, shares down

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<v Speaker 5>about one percent this after the company warned that it

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<v Speaker 5>will need to spend heavily on production to meet demand,

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<v Speaker 5>overshadowing a generally upbeat forecast that was upbeat from the

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<v Speaker 5>largest US maker of computer memory chips.

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<v Speaker 4>We've seen this story before, right, strong numbers, top line,

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<v Speaker 4>strong margins, and all this good stuff. But then they're saying, listen,

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<v Speaker 4>we got to spend more in terms of their capex

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<v Speaker 4>coming in higher, and then the stock goes from a

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<v Speaker 4>rally to lower. But this one has been bouncing around

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<v Speaker 4>a lot today in the aftermarket.

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<v Speaker 1>Yeah, it has m you as the ticker.

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<v Speaker 5>The company said it will spend We'll spend more than

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<v Speaker 5>twenty five billion dollars this fiscal year. ANALYSTET estimated twenty

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<v Speaker 5>two point four.

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<v Speaker 1>Like I said, seen this movie before.

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<v Speaker 4>It's also up sixty two percent year today.

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<v Speaker 2>Correct this stock movers report from Bloomberg Radio. Check back

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