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 Tom Keen with Paul Sweeney and Bloomberg's Nathan Hager
Speaker 1: with our stock Movers this morning, with SpaceX ticker SPCX. Tom,
Speaker 1: we've been keeping an eye on it since the IPO,
Speaker 1: and we continue to do so this morning. Right now,
Speaker 1: the shares are lower by almost two percent, but it's
Speaker 1: kind of been swinging between gains and losses after shedding
Speaker 1: three straight days of declines more than six hundred billion
Speaker 1: dollars in market value for Elon Musk's Rocket AI company.
Speaker 1: The sixteen percent drop for SpaceX yesterday was second only
Speaker 1: to Nvidia as the biggest one day drop for a
Speaker 1: single stock on record. But of course, all this is
Speaker 1: coming as investors are waiting for SpaceX to kick off
Speaker 1: its first investment grade bond sale. We've been talking about
Speaker 1: this for the last several days. A source tells us
Speaker 1: this morning it's going to come in five parts, and
Speaker 1: we've already reported that SpaceX is hoping to raise at
Speaker 1: least twenty billion dollars from this offering, an unusual move
Speaker 1: for an investment grade market that's used to lending to
Speaker 1: established companies that make things like cars or sell life insurance.
Speaker 1: SpaceX has yet to turn a profit, people will expect, Yeah,
Speaker 1: it's going to keep burning cash through twenty twenty nine,
Speaker 1: according to SMPK. Well, but there's actually a great story
Speaker 1: on Bloomberg as well this morning that the SPACEXIPO is
Speaker 1: raising hope for investors in Elon Musk's other publicly traded company,
Speaker 1: that the endgame maybe a merger between SpaceX and Tesla.
Speaker 1: Tesla shares, by the way, down about two and a
Speaker 1: half percent pre market. You got another, Yeah, I got IBM.
Speaker 1: We've been talking about the tech led selloff all morning long,
Speaker 1: but IBM shares are bucking that trend.
Speaker 2: Right now.
Speaker 1: They are higher by more than four four percent. Stock
Speaker 1: got an upgrade from neutral to overweight over at JP
Speaker 1: Morgan and a fifteen percent boost to that shop's price target.
Speaker 1: It's now at two hundred ninety one dollars a share
Speaker 1: Right now, IBM's around two sixty two, still below the
Speaker 1: average of analysts tracked by Bloomberg, but JP Morgan analysts
Speaker 1: say the upgrade reflects better confidence in software acceleration ahead.
Speaker 1: On top of that, Big Blue also announced it's joined
Speaker 1: the Open AI Daybreak cyber Partner program. It says the
Speaker 1: pact is going to bring advanced AI capabilities into security
Speaker 1: operations to help enterprises counter machine speed threats. End quote.
Speaker 1: Just yesterday, President Trump praised IBM and it's CEO Arvin
Speaker 1: Krishna for boosting US chip production. He joked to reporters
Speaker 1: about selling IBM stock at a lower price before he
Speaker 1: returned to office. Oh. Also, Morgan Stanley also raised its
Speaker 1: price target on IBM from two twenty five to two
Speaker 1: sixty seven.
Speaker 2: So there's that as well. Okay, get one more quick one. Yeah.
Speaker 1: AMC Entertainment apparently you announce a direct share sale and
Speaker 1: the stock tanks. Right now AMC shares are sinking by
Speaker 1: more than twenty four percent. Yeah. The theater chain announced
Speaker 1: the direct offering of ninety five and a quarter million
Speaker 1: shares priced at around two hundred million dollars.
Speaker 2: Do the math.
Speaker 1: That's about two ten apiece. Right now, AMC is trading
Speaker 1: at two nine. Bloomberg Intelligence is suggesting close to fifteen
Speaker 1: percent dilution for common stockholders in American multi cinema.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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