1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Mover's Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:16,200 Speaker 2: the stock market harnessing the power of Bloomberg data. 4 00:00:16,440 --> 00:00:19,520 Speaker 3: Let's check in on some stocks on the move this morning. 5 00:00:19,560 --> 00:00:22,239 Speaker 3: It's eleven am Wall Street time. I'm Scarlet who with 6 00:00:22,239 --> 00:00:25,439 Speaker 3: Paul Sweeney and Bloomberg's Matthew Griffin joins us. Matthew, would 7 00:00:25,440 --> 00:00:28,480 Speaker 3: you be more inclined to look at a lat grown diamond? 8 00:00:28,520 --> 00:00:28,720 Speaker 1: Saying? 9 00:00:28,760 --> 00:00:30,520 Speaker 3: Yeah, this is as good as a real diamond? 10 00:00:30,720 --> 00:00:33,279 Speaker 1: You know, Scarlett, I can't remember why I was actually 11 00:00:33,400 --> 00:00:35,920 Speaker 1: just thinking about this. I am not in the market. 12 00:00:35,960 --> 00:00:38,200 Speaker 1: Just to get ahead of that question at this time, 13 00:00:38,720 --> 00:00:43,559 Speaker 1: but I think, no, my, that's my instinct. But you 14 00:00:43,560 --> 00:00:46,440 Speaker 1: know I have not really you haven't looked at forced 15 00:00:46,440 --> 00:00:47,319 Speaker 1: to make a call yet. 16 00:00:47,360 --> 00:00:48,959 Speaker 2: God, it's a conversation that has to be had. 17 00:00:49,000 --> 00:00:50,000 Speaker 3: I think it really is. 18 00:00:50,080 --> 00:00:50,199 Speaker 1: OK. 19 00:00:50,280 --> 00:00:53,000 Speaker 3: Yeah, I mean, you know, the hearts can be broken 20 00:00:53,000 --> 00:00:55,120 Speaker 3: over this, right. All right, let's talk a little bit 21 00:00:55,120 --> 00:00:56,720 Speaker 3: about some stocks on the move. Matthew, what do you 22 00:00:57,000 --> 00:00:58,040 Speaker 3: what have you got for us? 23 00:00:58,480 --> 00:01:01,480 Speaker 1: Well? I know you are going to talk more about 24 00:01:01,480 --> 00:01:04,600 Speaker 1: the numbers on Micron in a bit, but I think 25 00:01:04,600 --> 00:01:07,840 Speaker 1: it's worth looking at the stock here and what it 26 00:01:07,920 --> 00:01:10,800 Speaker 1: tells us about where investors heads are. So that's ticker 27 00:01:11,040 --> 00:01:13,760 Speaker 1: MU down about two and a half percent, was down 28 00:01:13,760 --> 00:01:17,000 Speaker 1: as much as eight point eight percent earlier this morning. 29 00:01:17,040 --> 00:01:19,920 Speaker 1: And what's really driving sentiment there is this forecast for 30 00:01:20,000 --> 00:01:23,240 Speaker 1: capital expenditures. They expect that to be greater than twenty 31 00:01:23,240 --> 00:01:26,199 Speaker 1: five billion dollars this year. That's more than the twenty 32 00:01:26,200 --> 00:01:29,520 Speaker 1: two point four billion that Wallstreet was expecting. And it 33 00:01:29,640 --> 00:01:32,880 Speaker 1: really shows how much focus there is on AI spending 34 00:01:32,959 --> 00:01:35,520 Speaker 1: right now and how much skepticism there is about it. 35 00:01:35,520 --> 00:01:38,400 Speaker 1: You know, this is a company that's seeing booming demand 36 00:01:38,400 --> 00:01:41,120 Speaker 1: for the memory chips that it manufactures. They're used to 37 00:01:41,319 --> 00:01:44,399 Speaker 1: train and run AI models. Shares up three hundred and 38 00:01:44,400 --> 00:01:47,240 Speaker 1: forty percent in the last twelve months on that demand. 39 00:01:47,400 --> 00:01:50,680 Speaker 1: They're seeing that flow through to revenue, but again investors 40 00:01:50,720 --> 00:01:53,680 Speaker 1: are a little bit concerned about the high spending that 41 00:01:53,760 --> 00:01:55,800 Speaker 1: you need to do to meet that demand. Right now. 42 00:01:57,200 --> 00:01:58,040 Speaker 1: How about Rivian? 43 00:01:58,080 --> 00:01:58,640 Speaker 3: What do you got there? 44 00:01:59,200 --> 00:02:03,320 Speaker 1: So Rivian ticker our IVN up about five percent today 45 00:02:03,360 --> 00:02:08,000 Speaker 1: after the company and Uber announced a Robotaxi partnership. So 46 00:02:08,639 --> 00:02:12,440 Speaker 1: Uber says that it will buy about ten thousand Rivian 47 00:02:12,680 --> 00:02:16,639 Speaker 1: R two autonomous vehicles. Rivian, of course, they make electric vehicles. 48 00:02:16,880 --> 00:02:20,240 Speaker 1: They're going to roll those out in San Francisco and 49 00:02:20,280 --> 00:02:23,760 Speaker 1: Miami in twenty twenty eight, eventually across the US, Canada 50 00:02:23,800 --> 00:02:26,600 Speaker 1: and Europe. And Uber also going to invest as much 51 00:02:26,639 --> 00:02:30,960 Speaker 1: as one and a quarter billion dollars in Rivian. You know, 52 00:02:31,040 --> 00:02:34,760 Speaker 1: if you look around the evspace companies having trouble selling 53 00:02:34,800 --> 00:02:37,600 Speaker 1: them to consumers right now, but analysts pretty positive on 54 00:02:37,800 --> 00:02:42,120 Speaker 1: deals like this. They've also been positive about Tesla's Robotaxi pivot. 55 00:02:42,280 --> 00:02:45,440 Speaker 1: If you actually look at Tesla now down about two 56 00:02:45,639 --> 00:02:48,320 Speaker 1: point three percent, So maybe some competition fears there. 57 00:02:48,760 --> 00:02:50,320 Speaker 3: I mean, if they're going to add Rivians to the 58 00:02:50,320 --> 00:02:52,320 Speaker 3: streets of San Francisco, they're going to have to share 59 00:02:52,320 --> 00:02:54,960 Speaker 3: the road with the waimos. That's going to be like 60 00:02:55,080 --> 00:02:56,600 Speaker 3: a third of the cars there. There are a lot 61 00:02:56,600 --> 00:02:57,960 Speaker 3: of Waymos on the streets and there. 62 00:02:57,960 --> 00:02:59,799 Speaker 2: I took one from Santa Claire a couple weeks ago. 63 00:02:59,880 --> 00:03:01,720 Speaker 3: I don't like them because I feel like they don't 64 00:03:01,760 --> 00:03:03,320 Speaker 3: know how to make a left turn. They kind of 65 00:03:03,360 --> 00:03:05,200 Speaker 3: wait too long and you got to get in there. 66 00:03:05,360 --> 00:03:07,680 Speaker 2: Yes, so is much driver this morning coming up that Parkway. 67 00:03:08,000 --> 00:03:10,400 Speaker 1: I mean, what do you and I can't make the difference. 68 00:03:10,480 --> 00:03:12,239 Speaker 2: H one more FedEx We got earning to my eye 69 00:03:12,320 --> 00:03:12,720 Speaker 2: for the close. 70 00:03:13,080 --> 00:03:16,240 Speaker 1: Yes, and FedEx down about one percent ahead of that report. 71 00:03:16,360 --> 00:03:19,080 Speaker 1: Now that may be with the market the rise in 72 00:03:19,280 --> 00:03:22,680 Speaker 1: oil prices, but that's also what's in focus when the 73 00:03:22,680 --> 00:03:26,560 Speaker 1: parcel carrier reports earnings later today. That stock ticker fd 74 00:03:27,040 --> 00:03:29,240 Speaker 1: X surged at the beginning of the year, set a 75 00:03:29,280 --> 00:03:32,120 Speaker 1: series of record highs now down about eleven percent though 76 00:03:32,200 --> 00:03:34,640 Speaker 1: during the war. They're closely tied to the strength of 77 00:03:34,639 --> 00:03:38,080 Speaker 1: the economy, seen as an economic bell weather, and their 78 00:03:38,120 --> 00:03:40,400 Speaker 1: report and outlook are going to give us some clues 79 00:03:40,520 --> 00:03:44,200 Speaker 1: about first how strong was the economy heading into the war, 80 00:03:44,560 --> 00:03:47,280 Speaker 1: and second, what is the company seeing our consumers and 81 00:03:47,360 --> 00:03:51,080 Speaker 1: businesses pulling back on spending as energy prices surge. So 82 00:03:51,480 --> 00:03:54,760 Speaker 1: that's one that strategists and analysts tell me they're watching closely. 83 00:03:54,800 --> 00:03:57,600 Speaker 1: One I will be watching closely as well. 84 00:03:57,640 --> 00:04:01,840 Speaker 2: This stock movers report from bloom Check back with us 85 00:04:01,920 --> 00:04:04,720 Speaker 2: throughout the day for the latest roundup of companies making 86 00:04:04,800 --> 00:04:08,400 Speaker 2: news on Wall Street and for the latest market moving headlines. 87 00:04:08,600 --> 00:04:12,600 Speaker 2: Listen to Bloomberg Radio Live. Catch us on YouTube Bloomberg 88 00:04:12,680 --> 00:04:15,720 Speaker 2: dot com and on Applecarplay and Android Auto with the 89 00:04:15,760 --> 00:04:17,119 Speaker 2: Bloomberg Business App.