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: I'm Tim Statovak along with Carol Masser. Let's take a
Speaker 1: look at some stocks on the move today. We're joined
Speaker 1: by Bloomberg News Earnings reporter Red Brown him how are
Speaker 1: you well. We're excited because it has been one of
Speaker 1: those days where the news flow has gone NonStop and
Speaker 1: it's moving stocks.
Speaker 3: Yeah.
Speaker 4: And I think the kind of the biggest news to
Speaker 4: cross for me for today was the Intel news with
Speaker 4: the White House. That's one of the stocks I'm keeping
Speaker 4: an eye on at the moment. Ticker is I INTC
Speaker 4: shares jumped as much as eight point nine percent today
Speaker 4: after Bloomberg News reported but broke the news that the
Speaker 4: Trump administration is in talks to take a stake in
Speaker 4: the struggling chip maker. Those shares have extended those gains
Speaker 4: in the aftermarket as well, almost kind of touching three
Speaker 4: percent in the aftermarket as well. So I think it's
Speaker 4: just kind of what a turnaround from earlier this month
Speaker 4: when Trump was selling the CEO to design and now
Speaker 4: he's trying to, you know, do business with him.
Speaker 3: I guess that's kind of the art of the deal though,
Speaker 3: so fair enough, yeah, or transactional maybe we don't know,
Speaker 3: right will turn out. I felt like when I see
Speaker 3: this story and it it feels like it's not over
Speaker 3: yet by far. But it's like again a great like
Speaker 3: business school case study, like depending on how this goes.
Speaker 3: I just think it's fascinating, all right. So that one,
Speaker 3: Intel continuing to trade higher in the aftermarket as well
Speaker 3: after that bump up on that news in the regular session.
Speaker 3: Amatt also moving in the after hours.
Speaker 4: Yes, another chip stock, but they're moving in quite the
Speaker 4: opposite direction right now, down around thirteen percent trading. And
Speaker 4: that came down to just really a week net sales
Speaker 4: outlook for the company, actually week week at the top
Speaker 4: and bottom line for the company in the third quarter
Speaker 4: right now, calling for as much a net revenue of
Speaker 4: seven point two billion. Analysts were forecasting a little over
Speaker 4: seven point three billion for the upcoming quarter. And you know,
Speaker 4: this is a this is a story we've heard so
Speaker 4: many times over the past couple of months, and it's
Speaker 4: coming down to a lack of certainty. You know, they
Speaker 4: were having a really hard time just looking out into
Speaker 4: the future into the next three months and predicting kind
Speaker 4: of where their sales will be. Kind of the same
Speaker 4: culprits as always, it's uncertain macroeconomic situation, and then also
Speaker 4: the trade story with China. Obviously they sell a lot
Speaker 4: of chips into China and not really sure how that's
Speaker 4: going to look in the next two to three months. Also,
Speaker 4: a lot of the Chinese customers pulled forward a lot
Speaker 4: of their purchases and are still working through these inventories
Speaker 4: when there was kind of the first hints of problems
Speaker 4: between the US and China. So yeah, for applied materials,
Speaker 4: still kind of working through some of those those lingering issues.
Speaker 1: Let's go Wolf, not Wolf speed, w O LF w
Speaker 1: U l f F Terra Wolf.
Speaker 3: Yeah, that's a great ticker. They is this company.
Speaker 4: They are a bitcoin minor primarily, that's kind of what
Speaker 4: they're known for. Not known for anything, but.
Speaker 3: They are twelve twelve employees. Apparently if you know them,
Speaker 3: you would have known they're they're a bitcoin minor. They
Speaker 3: had the best day since twenty twenty two.
Speaker 4: They turned up sixty percent today and the second best
Speaker 4: in the Russell three thousand and that is off of
Speaker 4: deal news that Google took an eight percent stake in
Speaker 4: the bitcoin minor. It's also involved this other company who's
Speaker 4: an a cloud platform called fluid Stack. The two companies
Speaker 4: will be sharing computing power, computing processing, things like that
Speaker 4: over a ten year deal. I think really why we
Speaker 4: got the reaction that we did was because this is
Speaker 4: now them moving away from just bitcoin mining into kind
Speaker 4: of the other big buzzword, and that's artificial intelligence.
Speaker 3: Obviously.
Speaker 4: Macquari analysts say that this deal firmly establishes the company
Speaker 4: as a major provider of top tier AI infrastructure, so
Speaker 4: could have some potential knock on effects throughout the bitcoin
Speaker 4: mining industry as well. Maybe we'll see some more of
Speaker 4: these deals. You know, they have kind of the latest
Speaker 4: and greatest technology within their data data centers as well,
Speaker 4: so it can then only makes sense if they get
Speaker 4: it on this.
Speaker 3: For who, for Terra Wolf, for Google.
Speaker 4: I mean potentially a lot of these companies are doing
Speaker 4: these sort of like you know, uh, these these these
Speaker 4: uh just taking stakes in a lot of these smaller
Speaker 4: companies just to make sure that they're they're spending their
Speaker 4: bets wide.
Speaker 2: So the stock movers report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street, and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
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