WEBVTT - Micron Rises, Take Two Mixed, FedEx Slips After Warning on Inflation, Trade Turmoil

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.520 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.440 --> 0:00:16.160
<v Speaker 2>in the stock market. Harnessing the power of Bloomberg Data.

0:00:16.880 --> 0:00:18.480
<v Speaker 3>Let's take a look at some of the stocks on

0:00:18.640 --> 0:00:20.360
<v Speaker 3>the move today. We can do it with Christina Quino.

0:00:20.440 --> 0:00:22.360
<v Speaker 3>She's a managing editor for Markets Live.

0:00:22.560 --> 0:00:24.279
<v Speaker 1>She joins us here in studio, Christine, what are you

0:00:24.280 --> 0:00:24.600
<v Speaker 1>looking at?

0:00:24.640 --> 0:00:27.320
<v Speaker 3>We're gonna take a look at Micron today, Paul. Of course,

0:00:27.400 --> 0:00:31.319
<v Speaker 3>highly anticipated earnings later after the bell so ticker MU

0:00:31.680 --> 0:00:34.720
<v Speaker 3>those shares they're doing better now. They're just down about

0:00:34.720 --> 0:00:38.400
<v Speaker 3>three tenths of one percent after falling earlier by nearly

0:00:38.440 --> 0:00:41.680
<v Speaker 3>two percent. And of course we know that fell thirteen

0:00:41.720 --> 0:00:44.520
<v Speaker 3>percent yesterday, but you know that was only the biggest

0:00:44.600 --> 0:00:47.360
<v Speaker 3>drop since early junees A lot happening in the stock

0:00:47.400 --> 0:00:50.080
<v Speaker 3>a lot happening in chip space in general, but specifically

0:00:50.159 --> 0:00:54.360
<v Speaker 3>for Micron. Of course, expectations are still high, Bloomberg Intelligence

0:00:54.440 --> 0:00:57.880
<v Speaker 3>expecting them to exceed their fiscal fur quarter revenue by

0:00:57.880 --> 0:01:01.720
<v Speaker 3>about thirteen percent above estimates. Also expecting our guidance beat

0:01:01.760 --> 0:01:06.000
<v Speaker 3>of eighteen percent, primarily because of that sixty percent increase

0:01:06.040 --> 0:01:09.720
<v Speaker 3>in DRAM prices. You know, one of our Marcus Life strategists,

0:01:09.880 --> 0:01:13.320
<v Speaker 3>Cameron christ calls micro now the third most important stock

0:01:13.319 --> 0:01:15.720
<v Speaker 3>in the world, just behind the out of It.

0:01:15.840 --> 0:01:16.000
<v Speaker 1>Yeah.

0:01:16.000 --> 0:01:18.080
<v Speaker 3>I said that on Bloomer Surveillance today.

0:01:18.200 --> 0:01:20.320
<v Speaker 1>I love that because you look at the performance and

0:01:20.360 --> 0:01:23.200
<v Speaker 1>it's just been completely nuts, driving all the other memory

0:01:23.240 --> 0:01:27.000
<v Speaker 1>chip makers up as well. Okay, Christine, take two is

0:01:27.080 --> 0:01:28.920
<v Speaker 1>on your list, and whenever I think Take two, I

0:01:28.959 --> 0:01:30.040
<v Speaker 1>just think of one video game.

0:01:30.240 --> 0:01:33.440
<v Speaker 3>Yeah, exactly, Grand Theft, all of course, and that is

0:01:33.640 --> 0:01:36.600
<v Speaker 3>very much the reason for why Take two shares this

0:01:36.720 --> 0:01:42.200
<v Speaker 3>morning doing quite well so ticker t twott two. Those

0:01:42.200 --> 0:01:44.839
<v Speaker 3>shares are up about half a percent at the moment,

0:01:45.120 --> 0:01:48.880
<v Speaker 3>up for a third straight day, also because of anticipation

0:01:49.320 --> 0:01:53.600
<v Speaker 3>over their latest version of the Grand Theft Auto video game.

0:01:53.600 --> 0:01:57.080
<v Speaker 3>Pre orders apparently starting at midnight local time on June

0:01:57.120 --> 0:01:59.960
<v Speaker 3>twenty fifth, and it's going to be launching in November

0:02:00.320 --> 0:02:02.800
<v Speaker 3>for seventy nine ninety nine. That's like the starting price.

0:02:02.840 --> 0:02:04.560
<v Speaker 3>I don't know if I'm going to be lining up

0:02:04.600 --> 0:02:07.040
<v Speaker 3>for that. I'm sure a lot of people will, but

0:02:07.160 --> 0:02:09.800
<v Speaker 3>that is reason enough for likes of BTIG, for instance,

0:02:09.840 --> 0:02:12.880
<v Speaker 3>to launch coverage on Take two. They launch it with

0:02:13.000 --> 0:02:15.840
<v Speaker 3>a by rating and a two hundred and ninety dollars

0:02:15.880 --> 0:02:18.200
<v Speaker 3>price target, And of course, earlier this week we got

0:02:18.400 --> 0:02:20.880
<v Speaker 3>an upgrade from Bank of America as well for that stock.

0:02:20.919 --> 0:02:23.720
<v Speaker 3>They lifted a price target to a street high of

0:02:23.760 --> 0:02:26.680
<v Speaker 3>three hundred sixty eight dollars versus the current price of

0:02:26.680 --> 0:02:28.600
<v Speaker 3>about two hundred and forty three. So a lot, a

0:02:28.639 --> 0:02:32.080
<v Speaker 3>lot of antispation and a lot riding on this latest

0:02:32.080 --> 0:02:33.280
<v Speaker 3>grand Theft auto release.

0:02:33.520 --> 0:02:38.480
<v Speaker 2>Video gaming for me is pong. That was my We

0:02:38.520 --> 0:02:39.280
<v Speaker 2>thought we were cutting it.

0:02:39.480 --> 0:02:40.680
<v Speaker 1>That's like first Chen video.

0:02:42.320 --> 0:02:45.680
<v Speaker 3>How about X they reported, Yes, they did report Paul

0:02:45.720 --> 0:02:47.280
<v Speaker 3>a bit of a mixed bag there, and that's why

0:02:47.280 --> 0:02:49.000
<v Speaker 3>we're probably seeing the shares on the back foot. So

0:02:49.080 --> 0:02:51.840
<v Speaker 3>chick of fd X, those chairs are done about a

0:02:52.000 --> 0:02:54.800
<v Speaker 3>tenths of one percent here. First earnings reports since they

0:02:54.840 --> 0:02:58.280
<v Speaker 3>completed their spinoff of the freight unit just at EPs

0:02:58.280 --> 0:03:01.160
<v Speaker 3>at six thirty one, actually above XS. But then it

0:03:01.200 --> 0:03:04.280
<v Speaker 3>was the margins that really disappointed here that fell to

0:03:04.320 --> 0:03:08.080
<v Speaker 3>eight point four percent below expectations, fed exciting a bunch

0:03:08.080 --> 0:03:11.600
<v Speaker 3>of different factors, including significant headwinds to global trade policies

0:03:11.760 --> 0:03:13.680
<v Speaker 3>as well as the grounding of some of its cargo

0:03:13.840 --> 0:03:17.000
<v Speaker 3>jet fleet. But you know, they are still looking for

0:03:17.880 --> 0:03:20.480
<v Speaker 3>a bit of an increase in terms of its future outlook.

0:03:20.480 --> 0:03:24.640
<v Speaker 3>They're looking for a sixteen ninety to eighteen ten in

0:03:24.720 --> 0:03:27.960
<v Speaker 3>terms of EPs for the calendar year twenty twenty six,

0:03:28.160 --> 0:03:31.080
<v Speaker 3>which is up for an estimated fifteen dollars in twenty

0:03:31.080 --> 0:03:32.640
<v Speaker 3>twenty five. Let's see if they deliver.

0:03:33.919 --> 0:03:37.960
<v Speaker 2>The stock mover's report from Bloomberg Radio. Check back with

0:03:38.040 --> 0:03:40.600
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:40.680 --> 0:03:43.760
<v Speaker 2>making news on Wall Street and for the latest market

0:03:43.800 --> 0:03:48.240
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:48.360 --> 0:03:51.880
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:51.920 --> 0:03:53.440
<v Speaker 2>the Bloomberg Business app.