WEBVTT - Nvidia and Cisco Climb; Wolfspeed Jumps

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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>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis.

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<v Speaker 2>Dan.

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<v Speaker 1>Good morning. We're watching Nvidia this morning. We know Jensen

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<v Speaker 1>Wong is in China, and I'm sorry that story just

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<v Speaker 1>fascinates me about him jumping on the plane in Alaska.

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<v Speaker 1>So is this part of the reason.

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<v Speaker 3>Yeah, so a coworker was joking that this is probably

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<v Speaker 3>the most profitable hitchhiking trip ever. And Vidia shares are

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<v Speaker 3>up two percent in the pre market. That says Reuter's

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<v Speaker 3>reporting that the US has cleared about ten Chinese companies

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<v Speaker 3>to buy in Vidia's H two hundred chips. Those are

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<v Speaker 3>the second most powerful chips the company offers. They're kind

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<v Speaker 3>of tailored towards China. Of those, the report says that Ali, Baba, Tencent, Bite, Dance,

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<v Speaker 3>JD dot Com are some of those companies. Although a

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<v Speaker 3>single delivery has been made yet now, Previously there's been

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<v Speaker 3>back and forth on these chips. These companies also had

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<v Speaker 3>to have approval from Chinese authorities. Earlier this year, be Bite, Dance, Tencent,

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<v Speaker 3>Alibaba were reportedly some of the first to receive approval.

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<v Speaker 3>So these companies clearly seem to be at the front

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<v Speaker 3>of where China is looking for bringing in these Nvidia chips.

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<v Speaker 3>Wong spoke to reporters saying the meetings went well. He

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<v Speaker 3>told Bloomberg he hasn't really discussed the H two hundred

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<v Speaker 3>during this trip. I'm going to quickly work in one

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<v Speaker 3>other winner from this. Boeing shares are up one percent

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<v Speaker 3>besten out in the last hour, saying he thinks that

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<v Speaker 3>they'll see large Boeing orders from China. So apparently we're

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<v Speaker 3>getting some orders and some potential orders in from this trip.

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<v Speaker 1>Yeah, that definitely works to mention all right. We're also

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<v Speaker 1>watching Cisco's systems and it seems investors are pretty impressed

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<v Speaker 1>with its earnings.

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<v Speaker 3>It's up sixteen percent in the pre market undertack our

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<v Speaker 3>CSCO the companies reporting fiscal third quarter results that beat

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<v Speaker 3>estimates and it raised its full year forecast. Total product

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<v Speaker 3>orders grew thirty five percent. That was driven by AI

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<v Speaker 3>in structure orders from hyperscalers. It also announced they'll cut

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<v Speaker 3>fewer than four thousand jobs in the current quarter. There

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<v Speaker 3>will be summer structuring charges up to one billion dollars,

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<v Speaker 3>about half of those to be recognized in the current quarter,

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<v Speaker 3>the remainder of the charges next fiscal year. But investors

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<v Speaker 3>are taking that seventeen percent up in the pre market.

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<v Speaker 3>This is set for the biggest one day gain off

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<v Speaker 3>of earnings for this company since two thousand and two.

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<v Speaker 3>So massive jump.

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<v Speaker 1>All right, what's going on with wolf Speed?

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<v Speaker 3>Yeah, so wolf Speed ticker wolf Those shares are up

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<v Speaker 3>over five percent in the pre market, continuing higher after

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<v Speaker 3>yes their sixteen percent search. The company was highlighted by

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<v Speaker 3>research company Satrini as a quote single stock highlight. So

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<v Speaker 3>Treaty's saying that the company is spent so aggressively, aggressively

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<v Speaker 3>to build up chip capacity. It went bankrupt last year.

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<v Speaker 3>Now that it's on the other side of the bankruptcy

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<v Speaker 3>that Centrini is calling the setup quote perfect.

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<v Speaker 2>The stock is up.

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<v Speaker 3>Over eighty percent this month, and it's coming amid some

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<v Speaker 3>pullbacks in the high flyers companies like Micron down one percent,

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<v Speaker 3>companies like Intel down three and a half percent. Those

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<v Speaker 3>have been leading the chip charge. We're starting to see

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<v Speaker 3>some bifurcation in the market this.

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<v Speaker 1>Morning, and you're also watching dot Simity out of San Francisco.

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<v Speaker 3>Yeah, so this is a healthcare software firm trades Undertickerdocs.

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<v Speaker 3>Shares are down twenty one percent in the pre market.

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<v Speaker 3>The firm is forecasting twenty twenty seven adjusted EBITA of

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<v Speaker 3>about three hundred and thirty million dollars. That's well blow

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<v Speaker 3>the three hundred and seventy million dollar estimate. It is

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<v Speaker 3>getting pinched by its AI investment, which is pressuring the downside,

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<v Speaker 3>and the company sees minimal AI revenue contribution this coming

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<v Speaker 3>fiscal year. The longer term hope from the companies that

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<v Speaker 3>AI search will present billions of dollars in a new market,

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<v Speaker 3>but right now they are not showing how it's going

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<v Speaker 3>to really collect revenue off of the spending in the

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<v Speaker 3>short term. That has investors wary in the pre market.

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

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<v Speaker 2>us throughout the day for the latest roundup of companies

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