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 Tim Stenebek along with Carol Master, and we're joined
Speaker 1: by Bloomberg News acat's reporter Carmen Reinicky, Carmen, You've got
Speaker 1: a lot to choose from when it comes to movers today.
Speaker 1: I know super Micro is on your radar.
Speaker 3: Yeah, super Micro is my top stock and also the
Speaker 3: top stock on the S and P five hundred. Today,
Speaker 3: ticker SMCI shares jumped sixteen percent, the highest since February
Speaker 3: twenty six. The company signed an agreement with Saudi Arabian
Speaker 3: based data center Data volt for a twenty billion, multi
Speaker 3: year partnership. Bloomberg Intelligence analyst Blujinho said that this partnership
Speaker 3: reinforces the view of the company's solid strategic position in
Speaker 3: AI servers amid mounting competition.
Speaker 1: Stock's been on a tear too like this week.
Speaker 4: I think a bam people moving into it in a
Speaker 4: big way.
Speaker 3: YEP and other chip stocks today also moved sort on
Speaker 3: this news and all sort of the positive stuff coming
Speaker 3: out of partnership. So Nvidia, AMD, all of these companies
Speaker 3: were up all.
Speaker 1: Right, everybody who's watching Core We've very closely. This is
Speaker 1: a company that ipo'ed just in the past couple of months,
Speaker 1: and it was looked at, hey, are we going to
Speaker 1: see a return to IPOs? How's it doing well?
Speaker 3: I mean we also had e Toro today, So today
Speaker 3: for IPOs, so shows of corweeb are up about nine
Speaker 3: percent right now, and after hours trading, the company reported
Speaker 3: its first ever earnings results as a publicly traded company. Basically,
Speaker 3: it showed pretty solid results. Adjusted EBITA revenue, operating income
Speaker 3: beat Wall Street expectations and basically it just indicated that
Speaker 3: artificial intelligence investment is not slowing down. And I mean,
Speaker 3: this is this is something that's just really lifting the
Speaker 3: tech sector in general, right because this was the big fear,
Speaker 3: you know, these companies are going to stop spending and
Speaker 3: then we're going to you know, see this hit to earning.
Speaker 3: So a really good first showing from Core Weave. The
Speaker 3: stock has also been on as hair this year. It
Speaker 3: ended the day at a at a record high.
Speaker 4: Yeah, and I just want to point out since you
Speaker 4: talked about the AI trade. Right, we saw Cisco in
Speaker 4: the aftermarket come out with earnings and the stock popped
Speaker 4: three four percent in the aftermarket, and a lot of
Speaker 4: it had to do with some of the spending that
Speaker 4: they are seeing in terms of a high what it says,
Speaker 4: positive sales forecast after AI booies demand AI.
Speaker 1: The trade is backed, Tim Well, I know Cisco is
Speaker 1: one of the stocks on Carmen's as well. Start he thunder. Sorry,
Speaker 1: it's my arms, Carol Massa where I'm like, what are
Speaker 1: you doing?
Speaker 3: I thought it was just up sorry an expert transition,
Speaker 3: but no, you're totally right. I mean AI spending is
Speaker 3: you know, it's still coming, It's still happening. Cisco boosted
Speaker 3: both its current quarter revenue forecast and full year revenue forecast.
Speaker 3: And I mean this was the earnings you know, like
Speaker 3: season where we were supposed to see all this cut right,
Speaker 3: like that was the fear. So this bodes really well
Speaker 3: for the AI trade. And I think worth noting that
Speaker 3: we have in video in.
Speaker 4: Two weeks, yeah, right, will be another one. It's kind
Speaker 4: of fascinating because I just feel like we were backing
Speaker 4: off that AI trade, but we got some like throughout
Speaker 4: the earning season, right, some support that stuff's going on
Speaker 4: should point out to Cisco. It sounds like some changes
Speaker 4: in the c suite, the CFO stepping down and making
Speaker 4: some changes there.
Speaker 1: So yeah, May eighth, four to twenty pm video Let
Speaker 1: the countdown began.
Speaker 4: At it in Vidia close today.
Speaker 1: That's when I hear from Nvidio and Vidia finished up
Speaker 1: by more than four hundred billion market cap added.
Speaker 4: I mean that one too, Like what I mean we're
Speaker 4: looking at Wait, let me just pull up the numbers.
Speaker 4: I mean, it's been on a tear.
Speaker 1: Also, and Jensen was in Saudi Arabia yesterday. He was
Speaker 1: called out by the president. Yeah he was.
Speaker 4: Yeah, it's a sixteen percent this week and only Wednesday
Speaker 4: Lemon year today shares a flat.
Speaker 3: Yeah, I know that, I'd mean, but yeah, a big
Speaker 3: resurgence back into this trade. I mean, it's its valuation
Speaker 3: has gotten so compressed. I think it's trading at like
Speaker 3: thirty times earnings now, which is a huge discount if
Speaker 3: you look over the last two years. So it's really
Speaker 3: interesting to see sort of the air come back into
Speaker 3: the tires here. And yeah, I'm excited for me. Twenty eight.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
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