WEBVTT - Homebuilder Stocks Tumble, Wendy's Soars, Micron Surges

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

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

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Jim Staneveek along with Carol Master. Let's take a

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<v Speaker 3>look at some stocks on the move today. We've got

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<v Speaker 3>normal Inta with us from Bloomberg Television. She's markets reporter

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<v Speaker 3>for Bloomberg TV.

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<v Speaker 1>We got to start with Micron because this is certainly

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<v Speaker 1>one that has caught our attention here in the aftermarket,

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<v Speaker 1>and that was a market focus.

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<v Speaker 4>I feel like all week.

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<v Speaker 1>Leading up to today, and we did see a big

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<v Speaker 1>move in the aftermarket.

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<v Speaker 5>A big move that we're seeing the aftermarket. We're seeing

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<v Speaker 5>shares up double digits in the postmarket trade. Now, this

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<v Speaker 5>is the company that delivered a sales forecast that topped estimates,

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<v Speaker 5>and of course we know that the forecasts really shattering

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<v Speaker 5>estimates across Wall Street. As we think about this in

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<v Speaker 5>satiable AI demand, there's been so much demand for artificial intelligence.

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<v Speaker 5>You've been seeing so many companies in the tech space

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<v Speaker 5>making out more and more money as everyone's just trying

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<v Speaker 5>to rush through this artificial intelligence race and seeing who

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<v Speaker 5>ends up on the other side as a winner. And

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<v Speaker 5>certainly you're seeing investors betting on the fact that they

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<v Speaker 5>think that this report from Micron, not only the report

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<v Speaker 5>itself being strong, but just thinking about the forward outlook

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<v Speaker 5>really underscoring a lot of optimism for Wall Street traders.

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<v Speaker 1>Can I just say nasdak MANI, NASZUAK one hundred many

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<v Speaker 1>futures up about one point four percent here in the aftermark.

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<v Speaker 3>But before we get to the Nasdaq trading tomorrow, we

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<v Speaker 3>get to the South Korean market opening later. Great Point,

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<v Speaker 3>and our own Christina Quino writing on the Market's live blog,

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<v Speaker 3>the question is is this enough of a good omen

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<v Speaker 3>for the costspeed. The big question is whether Micron's earning

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<v Speaker 3>surprise and postmarket boost will be enough to ward off

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<v Speaker 3>this week's still drums. Remember we woke up Monday morning

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<v Speaker 3>to a big sell off Monday or too, I don't

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<v Speaker 3>even remember what. I woke up one day this week

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<v Speaker 3>and stocks had sold off in South Korea and it

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<v Speaker 3>was these Memory stocks.

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<v Speaker 4>Yeah, I mean, and videos up about seven tents percent.

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<v Speaker 1>But I do wonder if the market's going to kind

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<v Speaker 1>of separate, you know, certainly be between some of the

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<v Speaker 1>different players, even within the same group.

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<v Speaker 4>So all right, Micron's soaring. Where do you want to

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<v Speaker 4>go next?

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<v Speaker 5>I want to talk about home builders tick her S

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<v Speaker 5>one and five home. The indent was doing pretty well

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<v Speaker 5>looking at the group, climbing about six percent to end

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<v Speaker 5>the day. Now, the biggest gainer in the index was

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<v Speaker 5>KB Home. They did separately report earning, so that's why

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<v Speaker 5>they got a boost. They rose seventeen percent. But while

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<v Speaker 5>we were seeing the reason we were seeing a broad

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<v Speaker 5>based rally is because of the fact that Congress approved

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<v Speaker 5>a broad housing package aimed at lowering housing the cost

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<v Speaker 5>of housing, and we also deceive following treasury yields of

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<v Speaker 5>raising hopes in terms of the relief for mortgage rates.

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<v Speaker 5>But we do know that President Donald Trump was saying

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<v Speaker 5>that he's canceling his plans to sign the bill into

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<v Speaker 5>lawmakers pass a voting legislation, so that kind of is

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<v Speaker 5>putting a bit of the fate of the legislation in question.

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<v Speaker 5>But certainly you're seeing investors at least buying into homebuilders

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<v Speaker 5>and seeing a positive trajectory.

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<v Speaker 1>No, it says to me politics, but we'll keep an

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<v Speaker 1>eye certainly on that sector.

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<v Speaker 4>All right, we.

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<v Speaker 3>Should talk rights real quick. To the thirty year treasure

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<v Speaker 3>yield fall fell ten basis points on the day to

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<v Speaker 3>four point eight four percent.

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<v Speaker 1>Right, and so, and that really plays into what you've seen,

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<v Speaker 1>and certainly the mortgage market.

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<v Speaker 4>It's a really important thing. All right. So we covered

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<v Speaker 4>home builders, we covered micro We want to go to Wendy's.

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<v Speaker 2>Yes, hi about lung fire.

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<v Speaker 5>Let's talk about lunch. Though, I haven't been there in

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<v Speaker 5>a while. Do you miss the Frosty's though, Yeah.

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<v Speaker 3>I've not been there in a while.

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<v Speaker 1>Yeah, used to love it was the only place it

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<v Speaker 1>was likely.

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<v Speaker 4>Chicken nuggets were quite good at Wendy's. Yeah, he used

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<v Speaker 4>to love the chili.

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<v Speaker 5>Oh that you said the chicken nuggets.

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<v Speaker 4>No chicken nuggets. I'm a really embarrassed. But I like

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<v Speaker 4>the met McDonald's. I used to love a little you know,

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<v Speaker 4>what is the kid's meal?

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<v Speaker 5>That's honesty, happy meal?

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<v Speaker 4>What's that to love?

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<v Speaker 1>Happy meal with a little toy with a smile on

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<v Speaker 1>your face, a little bit of fries, a little bit

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<v Speaker 1>of chicken nuggets.

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<v Speaker 5>Well, it's now a meme. Stock We're looking at shares

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<v Speaker 5>of Wendy's jumping more than twenty percent in the day,

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<v Speaker 5>best day since twenty twenty one. It's the same story

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<v Speaker 5>we've been seeing over and over with the memestock media.

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<v Speaker 5>So you're seeing a lot of retail traders online chatting

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<v Speaker 5>about the fact that they really want to drive up

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<v Speaker 5>the stock, especially if you think about the short covering

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<v Speaker 5>that comes alongside that. We did see high short interest

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<v Speaker 5>on the stock with about twenty four percent of the

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<v Speaker 5>float really in focus here, So you did see a

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<v Speaker 5>pretty strong gain on the day as people are really

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<v Speaker 5>digesting whether or not this is something that's actually going

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<v Speaker 5>to last. We know most times it doesn't, she.

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<v Speaker 3>Said, digesting what I'm talking about that, you know, and

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<v Speaker 3>I didn't even catch that.

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<v Speaker 5>Now there we go.

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<v Speaker 4>Nice, nice job.

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