WEBVTT - SpaceX Falls, Micron Gains, Alphabet Drops After Jumper Departs Google DeepMind 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg data, let's.

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<v Speaker 1>Take a look at stocks on the move today. We

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<v Speaker 1>can do that with bloombergs. Christina, you know she's a

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<v Speaker 1>managing editor for Markets Live. How she joined us here

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<v Speaker 1>in the studio. Christine, what are you looking at all?

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<v Speaker 2>Right, Paul?

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<v Speaker 1>We got to take a look at SpaceX again if

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<v Speaker 1>we're not sick of talking about that just yet, but

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<v Speaker 1>losing a little bit of altitude down for the first

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<v Speaker 1>rate day today, SPCX is the ticker and those shares

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<v Speaker 1>are down more than seven percent, but it is still

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<v Speaker 1>more than twenty percent above its IPO price. And the

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<v Speaker 1>latest news, of course, is that they are coming to

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<v Speaker 1>the investment grade bond market. They are going to be

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<v Speaker 1>selling bonds and trying to raise at least twenty billion

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<v Speaker 1>dollars from the bond offering. That's according to Bloomberg reports

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<v Speaker 1>last week, So more details on that this week. The

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<v Speaker 1>proceeds will apparently refine us a temporary bridge load of

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<v Speaker 1>about roughly the same size, which is a facility that

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<v Speaker 1>makes up the bulk of space excess twenty nine point

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<v Speaker 1>one billion dollars of long term debt. Good news for

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<v Speaker 1>SpaceX is that we did get all three major credit

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<v Speaker 1>rating companies giving them brandings in the triple B tiers

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<v Speaker 1>so investment grade right, and so that will help them

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<v Speaker 1>issue cheaper bonds than maybe they would have otherwise. So

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<v Speaker 1>if you didn't get I guess into a stock last week,

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<v Speaker 1>maybe some investors we want to get into the debt

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<v Speaker 1>this week, even with that third day of decline, trading

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<v Speaker 1>about ten dollars higher than where it ended its first

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<v Speaker 1>day of trading.

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<v Speaker 2>Okay, let's take a look at the tech space. Deeper

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<v Speaker 2>into the tech space, what do you.

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<v Speaker 1>Have, Yes, definitely Scarland. You got to take a look

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<v Speaker 1>at Micron, of course, chip stock and it's going to

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<v Speaker 1>be reporting results later this week June twenty fourth, after

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<v Speaker 1>the bell and so took her mu. Those shares are

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<v Speaker 1>high today, so up more than four percent, nearly five

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<v Speaker 1>percent actually as we speak, and so extending opening gains again.

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<v Speaker 1>In anticipation of the Earth report on Wednesday, Bloomberg Intelligence

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<v Speaker 1>weighing in some of the key numbers to watch. They're

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<v Speaker 1>expecting Micron to beat fiscal third quarter revenue by about

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<v Speaker 1>thirteen percent, beat guidance as well by about eighteen percent,

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<v Speaker 1>citing specifically the sixty percent increase in d RAM. One

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<v Speaker 1>number to watch, of course is margins, and so Micron

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<v Speaker 1>has guided for non got Girls margin to be around

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<v Speaker 1>eighty one percent in the third quarter. Key thing to

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<v Speaker 1>watch is whether that is going to change. Bloomberg Intelligence

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<v Speaker 1>is not necessarily thinking that we'll expand a bit more.

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<v Speaker 1>Maybe it might top out in the mid eighties, and

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<v Speaker 1>it all depends on, you know, whether Micron is able

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<v Speaker 1>to increase capacity in the long term to maintain that

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<v Speaker 1>d RAM bitchair all right, alphabet last one alphabet. Goog

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<v Speaker 1>is the ticker. Those shares are down more than four percent. Now.

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<v Speaker 1>We did get news on Friday while everyone was out

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<v Speaker 1>over the Juneteenth holiday that Google d Mind Vice president

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<v Speaker 1>John Jumper is leaving the company to join anthrop A.

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<v Speaker 1>Jumper won the twenty twenty four Noble Price in Chemistry

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<v Speaker 1>for his work on AI. He has been a key

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<v Speaker 1>member of Google's AI coding development team, and that is

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<v Speaker 1>going to be a big loss to the company, especially

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<v Speaker 1>at a time when Google has apparently struggled to sell

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<v Speaker 1>AI coding tools to its businesses, so we'll see what

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<v Speaker 1>the next move is there in terms of replacing him.

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<v Speaker 2>The stock Moover's report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the latest market

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<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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