Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis.
Speaker 2: Dan.
Speaker 1: Good morning. We're watching Nvidia this morning. We know Jensen
Speaker 1: Wong is in China, and I'm sorry that story just
Speaker 1: fascinates me about him jumping on the plane in Alaska.
Speaker 1: So is this part of the reason.
Speaker 3: Yeah, so a coworker was joking that this is probably
Speaker 3: the most profitable hitchhiking trip ever. And Vidia shares are
Speaker 3: up two percent in the pre market. That says Reuter's
Speaker 3: reporting that the US has cleared about ten Chinese companies
Speaker 3: to buy in Vidia's H two hundred chips. Those are
Speaker 3: the second most powerful chips the company offers. They're kind
Speaker 3: of tailored towards China. Of those, the report says that Ali, Baba, Tencent, Bite, Dance,
Speaker 3: JD dot Com are some of those companies. Although a
Speaker 3: single delivery has been made yet now, Previously there's been
Speaker 3: back and forth on these chips. These companies also had
Speaker 3: to have approval from Chinese authorities. Earlier this year, be Bite, Dance, Tencent,
Speaker 3: Alibaba were reportedly some of the first to receive approval.
Speaker 3: So these companies clearly seem to be at the front
Speaker 3: of where China is looking for bringing in these Nvidia chips.
Speaker 3: Wong spoke to reporters saying the meetings went well. He
Speaker 3: told Bloomberg he hasn't really discussed the H two hundred
Speaker 3: during this trip. I'm going to quickly work in one
Speaker 3: other winner from this. Boeing shares are up one percent
Speaker 3: besten out in the last hour, saying he thinks that
Speaker 3: they'll see large Boeing orders from China. So apparently we're
Speaker 3: getting some orders and some potential orders in from this trip.
Speaker 1: Yeah, that definitely works to mention all right. We're also
Speaker 1: watching Cisco's systems and it seems investors are pretty impressed
Speaker 1: with its earnings.
Speaker 3: It's up sixteen percent in the pre market undertack our
Speaker 3: CSCO the companies reporting fiscal third quarter results that beat
Speaker 3: estimates and it raised its full year forecast. Total product
Speaker 3: orders grew thirty five percent. That was driven by AI
Speaker 3: in structure orders from hyperscalers. It also announced they'll cut
Speaker 3: fewer than four thousand jobs in the current quarter. There
Speaker 3: will be summer structuring charges up to one billion dollars,
Speaker 3: about half of those to be recognized in the current quarter,
Speaker 3: the remainder of the charges next fiscal year. But investors
Speaker 3: are taking that seventeen percent up in the pre market.
Speaker 3: This is set for the biggest one day gain off
Speaker 3: of earnings for this company since two thousand and two.
Speaker 3: So massive jump.
Speaker 1: All right, what's going on with wolf Speed?
Speaker 3: Yeah, so wolf Speed ticker wolf Those shares are up
Speaker 3: over five percent in the pre market, continuing higher after
Speaker 3: yes their sixteen percent search. The company was highlighted by
Speaker 3: research company Satrini as a quote single stock highlight. So
Speaker 3: Treaty's saying that the company is spent so aggressively, aggressively
Speaker 3: to build up chip capacity. It went bankrupt last year.
Speaker 3: Now that it's on the other side of the bankruptcy
Speaker 3: that Centrini is calling the setup quote perfect.
Speaker 2: The stock is up.
Speaker 3: Over eighty percent this month, and it's coming amid some
Speaker 3: pullbacks in the high flyers companies like Micron down one percent,
Speaker 3: companies like Intel down three and a half percent. Those
Speaker 3: have been leading the chip charge. We're starting to see
Speaker 3: some bifurcation in the market this.
Speaker 1: Morning, and you're also watching dot Simity out of San Francisco.
Speaker 3: Yeah, so this is a healthcare software firm trades Undertickerdocs.
Speaker 3: Shares are down twenty one percent in the pre market.
Speaker 3: The firm is forecasting twenty twenty seven adjusted EBITA of
Speaker 3: about three hundred and thirty million dollars. That's well blow
Speaker 3: the three hundred and seventy million dollar estimate. It is
Speaker 3: getting pinched by its AI investment, which is pressuring the downside,
Speaker 3: and the company sees minimal AI revenue contribution this coming
Speaker 3: fiscal year. The longer term hope from the companies that
Speaker 3: AI search will present billions of dollars in a new market,
Speaker 3: but right now they are not showing how it's going
Speaker 3: to really collect revenue off of the spending in the
Speaker 3: short term. That has investors wary in the pre market.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
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