WEBVTT - Nuclear Stocks Jump on Meta Deal ; Applied Digital Continues to Soar; Credo Technology Surges

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers podcast, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a

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<v Speaker 3>morning where stocks as a whole are moving lower, but

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<v Speaker 3>there is a lot of green on the most screen

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<v Speaker 3>this morning, val including Constellation Energy on a big deal

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<v Speaker 3>with Meta Platforms.

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<v Speaker 4>Good morning, Hey, good morning, Nathan. That's right.

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<v Speaker 1>Constellation Energy, this is the biggest nuclear power generator in

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<v Speaker 1>the US, is signed a deal with Meta for data

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<v Speaker 1>center data center energy. The shares of Constellation Energy are

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<v Speaker 1>up near thirteen percent in pre market. They've signed a

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<v Speaker 1>twenty year contract with Meta. They're going to be giving

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<v Speaker 1>them power from an Illinois nuclear print plant and it's

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<v Speaker 1>the first deal of it's kind in the US with

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<v Speaker 1>a currently opt.

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<v Speaker 4>Rereading nuclear plant.

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<v Speaker 1>It does have parallels though to one that Constellation Energy

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<v Speaker 1>signed with Microsoft last year, but that was about a

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<v Speaker 1>currently offline nuclear power plant and three Mile Island in Pennsylvania.

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<v Speaker 1>But this is just more evidence of technology companies voracious

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<v Speaker 1>appetite for energy to run these data centers in AI,

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<v Speaker 1>and Constellation Energy, being the largest nuclear power plant company

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<v Speaker 1>in the US, is seeing to benefit. That's Constellation Energy

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<v Speaker 1>up now thirteen and a half percent pre market.

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<v Speaker 3>And this is just the latest data center news that

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<v Speaker 3>we've gotten just this week, Valerie, we saw the big

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<v Speaker 3>move with Applied Digital yesterday. How's that stock going?

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<v Speaker 4>Yeah, this one is interesting.

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<v Speaker 1>Applied Digital it soared forty five percent yesterday, but it's

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<v Speaker 1>on the rise again today, up another four and a

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<v Speaker 1>half percent. One of the most traded stocks by volume

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<v Speaker 1>so far in the pre market. This is on a

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<v Speaker 1>huge AI data center lease agreement with core Weave. It's

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<v Speaker 1>the data center lease is worth seven billion dollars, a

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<v Speaker 1>fifteen year data center lease agreement that was signed with

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<v Speaker 1>core Weave, which is a cloud based IA computing service

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<v Speaker 1>focused on graphics that iPod earlier this year.

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<v Speaker 4>Remember it was a wobbly IPO.

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<v Speaker 1>But the stock has tripled since late March, and it

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<v Speaker 1>seems like it's causing others to gain as well. That's

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<v Speaker 1>Applied Digital soaring another four point three percent after a

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<v Speaker 1>forty five percent rally yesterday.

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<v Speaker 4>With this deal with Coreweave, and.

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<v Speaker 3>We're seeing another double digit move just in the pre

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<v Speaker 3>market for Creto Technology after their earnings.

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<v Speaker 1>Yeah, this is Credo Technology. The shares are up thirteen

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<v Speaker 1>point seven percent. It's a high speed connectivity solutions company

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<v Speaker 1>and they came with earnings. They reported a beat in

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<v Speaker 1>revenue in their earnings release. They they have a continued

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<v Speaker 1>to grow their business across hyperscaler customers such as Amazon

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<v Speaker 1>XAI and Microsoft for AI services, and the CEO says

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<v Speaker 1>that he believes the company will continue this trend for

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<v Speaker 1>the foreseeable future. So a beat for a technology company,

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<v Speaker 1>Creto Technology. The shares are up fourteen percent.

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<v Speaker 3>Now on the downside this morning.

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<v Speaker 4>Tell us about what's going on with.

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<v Speaker 1>Bumble Oh, those shares are in the red, down five

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<v Speaker 1>and a half percent in the pre market on Tuesday.

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<v Speaker 1>This comes after a JP Morgan downgrade to underweight from

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<v Speaker 1>neutral following the shar's recent rally, saying that the online

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<v Speaker 1>dating category remains challenged with the gen Z product fit issues.

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<v Speaker 3>Jen sid where are you from anyway? Dollar General just

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<v Speaker 3>reported earnings. How's that stock doing?

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<v Speaker 2>Oh?

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<v Speaker 4>Those shares are up seven percent.

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<v Speaker 1>Dollar General coming with a beat with first quarter EPs

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<v Speaker 1>coming at one point seven eight. The estimate was for

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<v Speaker 1>one dollar and forty eight cents per share. They also

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<v Speaker 1>raised their financial guidance for the full year twenty twenty five,

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<v Speaker 1>so those shares are jumping seven percent pre market after

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<v Speaker 1>earnings from Dollar General.

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

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

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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