Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock movers report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Krol Masser, Tim Stenebeck, Romain Bostik and Katie Greifel.
Speaker 3: I want to talk about a chip maker on our
Speaker 3: radar today. That's Micron Technology. This is the biggest gainer
Speaker 3: in the S and P five hundred, up nineteen point
Speaker 3: three percent today. The market cap now over eight trillion
Speaker 3: dollars one point oh one trillion dollars. This this as
Speaker 3: a result of what happened over a UBS. They boosted
Speaker 3: the price target for Micron it to more than sixteen
Speaker 3: hundred dollars a share. It's at about nine hundred dollars
Speaker 3: a share right now. This implies a market cap of
Speaker 3: more than one point eight trillion, larger than the current
Speaker 3: market cap of companies like Meta, Tesla and Berkshire. Are
Speaker 3: still a ways to go. But Romayne, you were going
Speaker 3: to say something. It's up close to twenty percent in
Speaker 3: a single day.
Speaker 4: Yeah, And I'm I'm just more fascinated by the trillion
Speaker 4: dollar mark.
Speaker 1: I mean, you go back a few years ago, we.
Speaker 4: Had zero trillion dollar companies, and by my account, we've
Speaker 4: now got fourteen in there if you conclude Micron, and
Speaker 4: of course you know you have the Granddaddy and Video
Speaker 4: and then of course you have at least one IPO
Speaker 4: coming down the pike that we know is also going
Speaker 4: to be in the trillion dollars would be SpaceX, and
Speaker 4: potentially a couple others with regards to the two big
Speaker 4: AI companies also potentially going to come to market.
Speaker 5: Yeah.
Speaker 3: Remember for so many years Romaine, it was like, what's
Speaker 3: the biggest market cap company in the world, And it
Speaker 3: was always this question about like, okay, is it going
Speaker 3: to be a Ramco, x on Mobil or Apple?
Speaker 1: Yeah?
Speaker 3: Yeah, times have really changed, right, Hey, sure have Hey,
Speaker 3: speaking of SpaceX, there's a lot of excitement in the
Speaker 3: space industry right now. I want to draw everybody's attention
Speaker 3: over to the Procure Space ETF it's ticker UFO. That's
Speaker 3: a pretty good one. Is up five point seven percent today.
Speaker 3: We did see shares in rocket and satellite companies rally
Speaker 3: set to extend those recent gains. It's really been advancing
Speaker 3: this whole sector since SpaceX filed or what stands to
Speaker 3: be the largest ever IPO among notable movers today. Well,
Speaker 3: if you just go to the procure Space IPO or
Speaker 3: space ETF, thirty six names were higher, twelve were lower.
Speaker 3: Momentous was up more than one hundred and nine percent,
Speaker 3: Redwire was up twenty six percent, cit Is Space up
Speaker 3: twenty one percent, Firefly Aerospace also up eighteen point eight percent.
Speaker 1: I'm sorry, Momentous was up one hundred percent.
Speaker 3: That's correct. Yeah, that's correct. A single A single name, right,
Speaker 3: it's in the space industry.
Speaker 4: I mean, I know it's like a microcap, but is
Speaker 4: it something happened.
Speaker 3: This space, just space space happened. Okay, did you guys
Speaker 3: watch the game, the Big Game.
Speaker 1: The Big Game, the New York Knicks. I chucked the score,
Speaker 1: the Big Game.
Speaker 3: I did hear my neighbors cheering.
Speaker 1: A lot last night? There was a lot of cursing. No,
Speaker 1: they were happy.
Speaker 3: Everyone was very happy. Three point five percent up.
Speaker 4: Well, I mean, have you met in New York or
Speaker 4: they curse even when they're happy, that's true.
Speaker 3: Madison Square Garden shares off their best levels of the session,
Speaker 3: but still closed at a record this after the New
Speaker 3: York completed a four to zero series sweep over the
Speaker 3: Cavaliers to advance the NBA Finals first time. Yeah, Alex,
Speaker 3: going back to nineteen ninety nine, big win for yeah there?
Speaker 3: What were you going to say?
Speaker 1: A big win for Dolan there?
Speaker 2: Oh?
Speaker 5: Yeah, yeah, big win also for Timothy Shallow, just.
Speaker 1: Timothy Shallow waist rowld.
Speaker 5: Ol is what Kleie Jenner?
Speaker 1: They're doing? Well?
Speaker 4: If the Knicks do win the finals? Is this city
Speaker 4: just going to become completely insufferable?
Speaker 6: I hope?
Speaker 2: So?
Speaker 3: Like, is it going to do what happens in like
Speaker 3: Philly and Boston when they're is a champ to.
Speaker 5: Increase the street polls, It'll be amazing.
Speaker 4: Yeah, I mean sorry, I don't know do we have that?
Speaker 4: Like I think the entire NYPD you needs to be
Speaker 4: on patrol that night.
Speaker 1: All right, we'll see what happens all over time for everybody, Alex?
Speaker 1: What are you? I have to say?
Speaker 6: Guys, it is not the easiest feat finding decliners in
Speaker 6: this market when most of the US benchmarks are at
Speaker 6: record highs, but I managed to muster if you up
Speaker 6: for you? The first one that I'm looking at is AutoZone.
Speaker 6: It had its worst day since twenty twenty two, down
Speaker 6: nine percent. Actually beat on earnings, but it's total revenue
Speaker 6: fell short of forecasts and a reported sluggish growth in
Speaker 6: its international markets. It has stores in Mexico and Brazil,
Speaker 6: and also some margin pressures. In fact, DA Davidson analyst
Speaker 6: Michael Baker said that the company delivered its best quarter
Speaker 6: in some time, but the expectations were just too high.
Speaker 4: All right, Well, we are getting some earnings right now,
Speaker 4: This from a cloud company, z Scaler, just crossing the
Speaker 4: Bloomberg terminal. Revenue in the most recent quarter does appear
Speaker 4: to be a slight beat eight hundred and fifty million.
Speaker 1: The street was looking.
Speaker 4: For eight thirty five, just a dps at a dollar
Speaker 4: eight that beats the street estimates average of street estimates
Speaker 4: of a dollar one, and reoccurring revenue basically in line
Speaker 4: with estimates.
Speaker 1: Here's your forecast.
Speaker 4: The company says that for the fiscal fourth quarter, the
Speaker 4: quarter that we're in right now, revenue will be in
Speaker 4: a range of eight seventy five to eight seventy eight.
Speaker 4: The high end of that range is below the average
Speaker 4: of street estimates of eight seventy nine. The company also
Speaker 4: says that for the full year, which basically closes out,
Speaker 4: also guiding just slightly below what the street was looking
Speaker 4: for at about three point seventy four a billion dollars.
Speaker 4: So that is probably why you're seeing the nee jerk
Speaker 4: reaction to the downside and the shares.
Speaker 5: Yeah, totally about underway in the after hours. Shares now
Speaker 5: down more than ten percent. And this is a company
Speaker 5: where shares had already declined about eighteen percent heading into
Speaker 5: today's close, so the bar had been reset a little
Speaker 5: bit lower here, but Alex, you can see that disappointment
Speaker 5: still coming through.
Speaker 6: Yeah, and disappointment also in Ferrari. Now I'm sticking here
Speaker 6: with car companies, which by the way, is not my
Speaker 6: forte at all, but I'll.
Speaker 3: Try my best because you're a real New York We'll.
Speaker 6: Have Hannah Elliott on the show later to break it
Speaker 6: down for us. But this was a fun story. Ferrari
Speaker 6: rather whose ticker is Race, which I love, it had
Speaker 6: a big down day down I believe it was eight percent.
Speaker 6: This is after a debut its electric vehicle. If you're
Speaker 6: Ferrari Luce, investors didn't like it, Analysts didn't like it
Speaker 6: at all, and neither did social media influencers. In fact,
Speaker 6: one analyst said that the car looks like quote a
Speaker 6: mix between a Honda and a Tesla three. Apparently that
Speaker 6: was meant to be an insult.
Speaker 1: Man that I actually like this.
Speaker 3: Really you pre ordered it?
Speaker 4: Well, I live in Manhattan, so no, I'm not going
Speaker 4: to drive a Ferrari on Manhattan.
Speaker 3: Well, there are plenty of places to buy Ferraris in Manhattan.
Speaker 3: I think on the West side there's a Ferrari dealer
Speaker 3: not too far from you, and just little South rough Man.
Speaker 4: I will keep that in mid I'll talk that over
Speaker 4: with my wife Toyeah.
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