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, let's.
Speaker 1: Take a look at stocks on the move today. We
Speaker 1: can do that with bloombergs. Christina, you know she's a
Speaker 1: managing editor for Markets Live. How she joined us here
Speaker 1: in the studio. Christine, what are you looking at all?
Speaker 2: Right, Paul?
Speaker 1: We got to take a look at SpaceX again if
Speaker 1: we're not sick of talking about that just yet, but
Speaker 1: losing a little bit of altitude down for the first
Speaker 1: rate day today, SPCX is the ticker and those shares
Speaker 1: are down more than seven percent, but it is still
Speaker 1: more than twenty percent above its IPO price. And the
Speaker 1: latest news, of course, is that they are coming to
Speaker 1: the investment grade bond market. They are going to be
Speaker 1: selling bonds and trying to raise at least twenty billion
Speaker 1: dollars from the bond offering. That's according to Bloomberg reports
Speaker 1: last week, So more details on that this week. The
Speaker 1: proceeds will apparently refine us a temporary bridge load of
Speaker 1: about roughly the same size, which is a facility that
Speaker 1: makes up the bulk of space excess twenty nine point
Speaker 1: one billion dollars of long term debt. Good news for
Speaker 1: SpaceX is that we did get all three major credit
Speaker 1: rating companies giving them brandings in the triple B tiers
Speaker 1: so investment grade right, and so that will help them
Speaker 1: issue cheaper bonds than maybe they would have otherwise. So
Speaker 1: if you didn't get I guess into a stock last week,
Speaker 1: maybe some investors we want to get into the debt
Speaker 1: this week, even with that third day of decline, trading
Speaker 1: about ten dollars higher than where it ended its first
Speaker 1: day of trading.
Speaker 2: Okay, let's take a look at the tech space. Deeper
Speaker 2: into the tech space, what do you.
Speaker 1: Have, Yes, definitely Scarland. You got to take a look
Speaker 1: at Micron, of course, chip stock and it's going to
Speaker 1: be reporting results later this week June twenty fourth, after
Speaker 1: the bell and so took her mu. Those shares are
Speaker 1: high today, so up more than four percent, nearly five
Speaker 1: percent actually as we speak, and so extending opening gains again.
Speaker 1: In anticipation of the Earth report on Wednesday, Bloomberg Intelligence
Speaker 1: weighing in some of the key numbers to watch. They're
Speaker 1: expecting Micron to beat fiscal third quarter revenue by about
Speaker 1: thirteen percent, beat guidance as well by about eighteen percent,
Speaker 1: citing specifically the sixty percent increase in d RAM. One
Speaker 1: number to watch, of course is margins, and so Micron
Speaker 1: has guided for non got Girls margin to be around
Speaker 1: eighty one percent in the third quarter. Key thing to
Speaker 1: watch is whether that is going to change. Bloomberg Intelligence
Speaker 1: is not necessarily thinking that we'll expand a bit more.
Speaker 1: Maybe it might top out in the mid eighties, and
Speaker 1: it all depends on, you know, whether Micron is able
Speaker 1: to increase capacity in the long term to maintain that
Speaker 1: d RAM bitchair all right, alphabet last one alphabet. Goog
Speaker 1: is the ticker. Those shares are down more than four percent. Now.
Speaker 1: We did get news on Friday while everyone was out
Speaker 1: over the Juneteenth holiday that Google d Mind Vice president
Speaker 1: John Jumper is leaving the company to join anthrop A.
Speaker 1: Jumper won the twenty twenty four Noble Price in Chemistry
Speaker 1: for his work on AI. He has been a key
Speaker 1: member of Google's AI coding development team, and that is
Speaker 1: going to be a big loss to the company, especially
Speaker 1: at a time when Google has apparently struggled to sell
Speaker 1: AI coding tools to its businesses, so we'll see what
Speaker 1: the next move is there in terms of replacing him.
Speaker 2: The stock Moover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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