Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: 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 Nathan Hager, joined by Bloomberg Stan Curtis on a
Speaker 1: comeback morning for the market. Except for Oracle.
Speaker 3: Good morning, Dan, Good morning, Nathan. Oracle shares are down
Speaker 3: eight percent in the pre market underticker OARCL as the
Speaker 3: AI company raises its capex projections for the current fiscal
Speaker 3: year to seventy billion dollars. It does that whilst maintaining
Speaker 3: its revenue outlook for the period at ninety billion dollars.
Speaker 3: That's basically saying the company is seeing itself spending more
Speaker 3: to make the same amount of revenue. The CFO said
Speaker 3: that this was that the higher capex was driven due
Speaker 3: to demand to prepay some components and in order to
Speaker 3: fuel all the spending. The company plans to forty billion
Speaker 3: dollars this year, half of which was already announced in
Speaker 3: a share sale that will be coming up. All of
Speaker 3: those figures overshadowing the fiscal four quarter revenue rising twenty
Speaker 3: one percent and earning speeding esimates this stock taking a
Speaker 3: hit in the pre market.
Speaker 1: Well, Oracle may be taking a hit, but memory stocks
Speaker 1: are on the comeback trail.
Speaker 3: Dan, that's right, and I have my eyes particularly on Micron,
Speaker 3: which is up three percent ticker MU and sand disc
Speaker 3: SNDK up five percent in the pre market. There's a
Speaker 3: few different stories going on here. First off, we do
Speaker 3: have that Oracle CAPEC story, this company spending more money
Speaker 3: and where will that go into the companies that make
Speaker 3: the hardware that goes into all the AI servers and
Speaker 3: that includes the memory space. We also have Morgan Stanley
Speaker 3: out with a note saying memory stocks can move higher
Speaker 3: after correcting that note was primarily focused on two big
Speaker 3: Koreean memory makers, Samsung and sk Heinex, but Morgan Stanley
Speaker 3: noting that memory is still the main bottleneck in the
Speaker 3: AI build out, so it sees demand in the space.
Speaker 3: Micron is the other part of the big three. So
Speaker 3: you have those two big Korean companies, Micron another part
Speaker 3: of the big three, so this demand could be playing out.
Speaker 3: And also after a few days drops, we're seeing from
Speaker 3: some appetite coming back into buy these stocks.
Speaker 1: Well, along with the earning story. Dan, we've got some
Speaker 1: deal news as well for Data and Eaton's Mobility.
Speaker 3: That's right, So ETN for Eaton is up two percent.
Speaker 3: Data is now down six percent in the pre market
Speaker 3: ticker d AN. The Eaton is going to separate out
Speaker 3: its mobility group, which will then combine with Data. Dana
Speaker 3: sees this delivering synergies within two years, and it is
Speaker 3: boosting its twenty thirty target to fourteen to fifteen billion dollars.
Speaker 3: The deal values Eaton Mobility at about five billion dollars.
Speaker 3: The combined company is seen worth about ten billion dollars
Speaker 3: in enterprise, and Eaton shareholders will control the company with
Speaker 3: a stake of at least fifty point one percent. Data
Speaker 3: shareholders get the remainder. Initially we had Data shares up
Speaker 3: off of this. Those have now reversed now down in
Speaker 3: the pre market almost six percent.
Speaker 1: And finally, Dan, of course, we're getting closer to the
Speaker 1: pricing of the spacexipo. How our space related stocks doing
Speaker 1: in the pre market.
Speaker 3: Yeah, we're keeping our eye on this, on the halo
Speaker 3: effect around spacexipo, and they are up. So some of
Speaker 3: the big names. Redwire took our RDW up five percent,
Speaker 3: ast Space Mobile up four and a half percent, Rocket
Speaker 3: Lab up four percent. There's a lot of anticipation around
Speaker 3: SpaceX and what it can do for the entire space
Speaker 3: pun intended, and it's lifting up those shares. In general,
Speaker 3: these stocks are doing well. Redwire up nearly one hundred
Speaker 3: percent on the year, but there's been a pull back
Speaker 3: forty thirty to forty percent in most of these names.
Speaker 3: Some buying ahead of that IPO.
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