1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market. Harnessing the power of Bloomberg data. 4 00:00:16,720 --> 00:00:18,400 Speaker 2: Let's take a look at some of the stocks on 5 00:00:18,560 --> 00:00:20,760 Speaker 2: the move today. We can do that with Bloomberg. Alexander. 6 00:00:20,840 --> 00:00:22,000 Speaker 1: Someone know about alex What are you looking at it? 7 00:00:22,040 --> 00:00:24,800 Speaker 1: Good morning, guys. The first name I'm looking at is Instachart. 8 00:00:24,920 --> 00:00:27,840 Speaker 1: That stock is falling this morning after Reuter's reported that 9 00:00:27,880 --> 00:00:33,040 Speaker 1: the FTC sent the grocery delivery company a civil investigation demand. 10 00:00:33,200 --> 00:00:37,280 Speaker 1: The FTC is seeking information about one of the company's 11 00:00:37,280 --> 00:00:41,400 Speaker 1: AI pricing tools. Apparently a study showed that some shoppers 12 00:00:41,440 --> 00:00:45,080 Speaker 1: got prices up to twenty three percent higher. The FTC 13 00:00:45,120 --> 00:00:48,279 Speaker 1: declined to comment on this, but they told Reuters that 14 00:00:48,520 --> 00:00:52,800 Speaker 1: they are quote disturbed. In a blog post data December eighteenth, 15 00:00:52,880 --> 00:00:56,800 Speaker 1: instacart said that recent reports around that surge and pricing 16 00:00:57,440 --> 00:01:03,200 Speaker 1: inaccurately blurred together fundamentally different things ab price test, dynamic pricing, 17 00:01:03,280 --> 00:01:06,600 Speaker 1: and surveillance pricing. So we'll be interesting to see what 18 00:01:06,640 --> 00:01:08,959 Speaker 1: the FTC finds. The stock right now is down about 19 00:01:09,000 --> 00:01:11,160 Speaker 1: one point five percent, but a lot less than it 20 00:01:11,200 --> 00:01:12,960 Speaker 1: was in pre market trading. All right, good one to 21 00:01:13,000 --> 00:01:16,240 Speaker 1: watch for. What's next? Of course, we have Lulu Lemon today. 22 00:01:16,360 --> 00:01:19,600 Speaker 1: Activist investor Elliott Management has built a stake of more 23 00:01:19,640 --> 00:01:23,080 Speaker 1: than a billion dollars in the company. Elliott apparently has 24 00:01:23,160 --> 00:01:27,440 Speaker 1: been working for months with retail executive Jane Nilsen. She 25 00:01:27,680 --> 00:01:31,319 Speaker 1: is a former chief financial officer and chief operating officer 26 00:01:31,319 --> 00:01:31,759 Speaker 1: for Ralph. 27 00:01:31,840 --> 00:01:32,080 Speaker 2: Laura. 28 00:01:32,200 --> 00:01:36,120 Speaker 1: Nielsen is viewed by the activist investor as a potential 29 00:01:36,200 --> 00:01:39,200 Speaker 1: CEO candidate. Of course, the company had said that CEO 30 00:01:39,319 --> 00:01:42,520 Speaker 1: Calvin McDonald would be stepping down at the end of January. 31 00:01:42,920 --> 00:01:45,600 Speaker 1: Just taking a look at shares right now, they're up 32 00:01:45,880 --> 00:01:50,080 Speaker 1: about seven percent. The stock rallied eleven percent since Friday, 33 00:01:50,280 --> 00:01:53,120 Speaker 1: when they boosted their full year outlook and also announced 34 00:01:53,280 --> 00:01:56,840 Speaker 1: the departure of McDonald. However, if you look at Lululemon shares, 35 00:01:57,040 --> 00:02:00,160 Speaker 1: they're down about forty six percent this year, So completely 36 00:02:00,240 --> 00:02:03,280 Speaker 1: understandable that Elliott would want a turnaround in this company. 37 00:02:05,280 --> 00:02:09,880 Speaker 1: You Micron, Yeah, a positive sign for the AI trade. 38 00:02:10,000 --> 00:02:13,000 Speaker 1: Looking at shares of Micron right now, they are surging 39 00:02:13,880 --> 00:02:17,760 Speaker 1: about eleven percent. This is, of course, the largest US 40 00:02:17,760 --> 00:02:21,360 Speaker 1: maker of computer memory chips. The company gave an upbeat 41 00:02:21,440 --> 00:02:25,120 Speaker 1: forecast for the current quarter. They also signaled a surge 42 00:02:25,160 --> 00:02:28,040 Speaker 1: in demand and supply shortages are allowing the company to 43 00:02:28,120 --> 00:02:32,040 Speaker 1: charge more for their products. Analysts had estimated about four 44 00:02:32,080 --> 00:02:36,200 Speaker 1: point four billion dollars in revenue for the average period, 45 00:02:36,200 --> 00:02:39,360 Speaker 1: but Micron actually blew out expectations. Their revenue will be 46 00:02:39,680 --> 00:02:42,640 Speaker 1: eighteen point three billion to nineteen point one billion. It 47 00:02:42,720 --> 00:02:46,919 Speaker 1: is benefiting from the voracious appetite for AI computing components. 48 00:02:47,160 --> 00:02:50,400 Speaker 1: Its executive vice president of operations said that this is 49 00:02:50,440 --> 00:02:54,200 Speaker 1: the most significant disconnect between demand and supply that he's 50 00:02:54,200 --> 00:02:55,799 Speaker 1: seen in twenty five years. 51 00:02:56,760 --> 00:03:00,800 Speaker 2: The Stock Mover's report from Bloomberg Radio. Check back with 52 00:03:00,880 --> 00:03:03,440 Speaker 2: us throughout the day for the latest roundup of companies 53 00:03:03,520 --> 00:03:06,600 Speaker 2: making news on Wall Street and for the latest market 54 00:03:06,639 --> 00:03:11,080 Speaker 2: moving headlines. 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