WEBVTT - Micron Rallies, AutoZone Slides, Rockets Rise

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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 3>I'm Jim Stanovac along with Alexandra Semino. But let's take

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<v Speaker 3>a look at some stocks on the move today. We

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<v Speaker 3>are joined by Bloomberg News acquis reporter Natalia Cuney. J Bitch, Natalia,

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<v Speaker 3>what are you watching?

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<v Speaker 4>I guys, yes, stock third record high. But nevertheless I

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<v Speaker 4>found one big decliner. This is the worst performing stock

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<v Speaker 4>in this and P five hundred to d which is Autozon.

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<v Speaker 4>The ticker is a z OH. The stock is done

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<v Speaker 4>by eleven percent. So this is the company that sells

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<v Speaker 4>different parts for used cars or trucks. So it has

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<v Speaker 4>commercial segment which is doing well, and also consumer segment.

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<v Speaker 4>This is so called do it yourself or day. So

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<v Speaker 4>this is where the biggest issue is comparable sales missed expectations.

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<v Speaker 4>On the one hand, analysts were saying that, yeah, as

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<v Speaker 4>we have higher oil prices, loans for new cars are

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<v Speaker 4>still you know rates are high, so maybe that could

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<v Speaker 4>boost demand for different you know, parts of cars. When

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<v Speaker 4>people want to maintain existing cars, but even that is

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<v Speaker 4>not happening Cay shaped recovery guys, as you discussed on

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<v Speaker 4>the show earlier, because as of now, people prefer just

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<v Speaker 4>to wait and see, you know, and they like even

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<v Speaker 4>I'm one of those people actually, because I did the

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<v Speaker 4>maintenance for a car recently and I was told, oh,

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<v Speaker 4>you got to replace this and this. I was like,

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<v Speaker 4>can I still drive a car? This is like, yes,

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<v Speaker 4>I'm fine.

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<v Speaker 3>There's any videos now too to prove like what you need? Yeah,

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<v Speaker 3>have you seen those? Yeah, there's any videos too, I

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<v Speaker 3>will say. I on AutoZone, I was driving a few

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<v Speaker 3>weeks ago in like a rainstorm. The windshield wiper flew

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<v Speaker 3>off of the car. Okay, yeah, I know. I didn't

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<v Speaker 3>know that could happen. Uh, went there was an auto

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<v Speaker 3>zone nearby.

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<v Speaker 4>Yeah.

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<v Speaker 3>We went to the AutoZone and the guy you know,

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<v Speaker 3>I got a new windshield wiper and he offered to

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<v Speaker 3>install it for completely free in the middle of a

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<v Speaker 3>very nice.

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<v Speaker 1>They have a very nice jingle on their commercials. I'm

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<v Speaker 1>not going to try and sing it.

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<v Speaker 3>I don't know the rights to it. Yeah, you gotta

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<v Speaker 3>be careful, okay. AutoZone. Micron is another one.

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<v Speaker 4>Matron yes, so this is the best performing stock today.

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<v Speaker 4>Shares are up by twenty percent, guys, the tickers MU

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<v Speaker 4>We saw pretty big upgrade coming from UBS analysts. So

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<v Speaker 4>now they raise price target to one thousand, six hundred

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<v Speaker 4>twenty five dollars. This is almost a two hundred percent

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<v Speaker 4>increase from a previous target of five hundred and thirty

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<v Speaker 4>five dollars. And that also implies a market cap of

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<v Speaker 4>about one point eight trillion dollars. So everyone is very

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<v Speaker 4>optimistic on memoryships stocks. And we solved from the last

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<v Speaker 4>earnings report that Micron said we have to spend heavily

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<v Speaker 4>on AI. Capex for this fiscal year is expected to

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<v Speaker 4>be at about twenty five billion dollars, more than analysts expected.

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<v Speaker 4>What I found really interesting, guys. If you go to

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<v Speaker 4>in our in our functional Bloomboog terminal, you see that, yes,

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<v Speaker 4>we have sixty five right analysts tracking the stock, zero

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<v Speaker 4>cell ratings. At the same time, we see that the

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<v Speaker 4>average price target for this year is six hundred eighty five.

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<v Speaker 4>The stock is trading at nine.

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<v Speaker 1>You would think that that contrarian indicator when no analyst

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<v Speaker 1>is bearish on a stock.

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<v Speaker 4>Yeah, and they're still behind. So we will see potentially

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<v Speaker 4>more upgrades.

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<v Speaker 3>Okay, that's Micron. Another stock, Well, this one making big

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<v Speaker 3>moves today. Red wire, red wire.

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<v Speaker 4>So this is one of the space stocks. I'm sure

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<v Speaker 4>we will be talking a lot about space economy state

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<v Speaker 4>space stocks today. So the ticket for this one is

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<v Speaker 4>our w RDW shares are up by almost twenty seven percent.

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<v Speaker 4>So this stock is just one of the space stocks

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<v Speaker 4>that is rallying today. Of course, we saw SpaceX filing

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<v Speaker 4>for an IPO, we saw launch of its biggest you know,

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<v Speaker 4>space ships, and and also everyone is just watching right now.

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<v Speaker 4>If Elon Musk implements whatever he's saying about building data

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<v Speaker 4>centers in space, how or when it's going to impact

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<v Speaker 4>the whole sector, it's going to be really fascinating.

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<v Speaker 3>Yeah. The data centers in space thing is like I

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<v Speaker 3>got to see it to believe it. Yeah, it's just

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<v Speaker 3>one of those things that is still in my mind,

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<v Speaker 3>seems far away. But I'm not a rocket scientist.

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<v Speaker 1>That doesn't seem to matter to investors. They don't have

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<v Speaker 1>to see anything to believe it. They'll hear a nice

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<v Speaker 1>number and they're buying.

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<v Speaker 4>I spoke actually with a couple space experts. I was

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<v Speaker 4>thinking about a story about data centers and what's going

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<v Speaker 4>to happen with data centers on Earth. So they said

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<v Speaker 4>that basically it's just so much cheaper from the energy perspective,

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<v Speaker 4>but yes, logistics part is hard, but space is basically

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<v Speaker 4>it has a monopoly and it's pretty you know, it's

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<v Speaker 4>not completely impossible to do that. It's just a matter

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<v Speaker 4>of time.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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