WEBVTT - Capri Rises; Apogee and Zscaler Sink

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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 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Continuing to

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<v Speaker 1>wind down earning season, we've got some pretty big names

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<v Speaker 1>reporting their results at this late stage, including Capri Holdings.

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<v Speaker 1>Still some story to be told in the luxury space.

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<v Speaker 1>Good morning Dan, Good morning Nathan.

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<v Speaker 3>That's right, the company behind Michael Cores and Jimmy cho

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<v Speaker 3>that is Capri Holdings. Those shares are up about three

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<v Speaker 3>percent in the pre market under ticker CPRII. The company's

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<v Speaker 3>fourth quarter revenue came in at seven hundred and ninety

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<v Speaker 3>six million dollars. That was about in line with estimates. However,

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<v Speaker 3>earnings came in at twenty two cents per share on

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<v Speaker 3>an adjusted level, twice what the Wall Street was expecting.

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<v Speaker 3>Company also said that sees twenty twenty seven first quarter

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<v Speaker 3>EPs of forty cents, also above estimates. So we're getting

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<v Speaker 3>a bottom line b out of that company. That's bring

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<v Speaker 3>those shares higher all right.

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<v Speaker 1>Now, we got some word that Appage is getting a

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<v Speaker 1>big cash in fusion, but investors don't look like they're

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<v Speaker 1>taking too kindly to this one.

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<v Speaker 3>Dan, It's a double dose of news for this biotech company.

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<v Speaker 3>And that's right. Appage ticker APGE is now down eighteen

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<v Speaker 3>percent in pre market. We saw it up double digits

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<v Speaker 3>before this. So we've had two pieces of news. So

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<v Speaker 3>we first have had news that Blackstone was providing up

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<v Speaker 3>to one point three billion dollars in financing. The money

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<v Speaker 3>will be used to help advance the skin drug to

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<v Speaker 3>treat multiple inflammatory diseases and a this is a drug

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<v Speaker 3>that app he's looking out to twenty twenty nine for

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<v Speaker 3>that pushed the shares up. However, since then, we've gotten

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<v Speaker 3>results from a clinical study not full stage from phase

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<v Speaker 3>two studies, but that has the shares down. This is

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<v Speaker 3>for the results from an apex try in moderate to

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<v Speaker 3>treat moderate to severe atopic dermatitis. The results from that

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<v Speaker 3>do not seem to be pleasing the market this morning.

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<v Speaker 1>Yeah, in a big way. With that eighteen percent drop

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<v Speaker 1>that you mentioned, and even bigger drop this morning for

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<v Speaker 1>z scaler. This is back to the earning story, right.

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<v Speaker 3>Yeah, back to the earning story and down twenty three

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<v Speaker 3>percent in the pre market under ticker zs Z. Scaler

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<v Speaker 3>is a cloud based cybersecurity company and its fiscal fourth

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<v Speaker 3>quarter revenue estimate was weaker than expected, so that has

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<v Speaker 3>the shares down despite the company beating third quarter top

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<v Speaker 3>and bottom line and estimates and increasing Foliar guidance. So

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<v Speaker 3>that's pointing towards weakness in the current period. The preliminary

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<v Speaker 3>annual recurring revenue for the next fiscal year of about

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<v Speaker 3>sixteen percent is indicating a slowdown and Bloomberg intelligences that

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<v Speaker 3>suggests muted new customer additions. So long term, there is

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<v Speaker 3>concern about that top line growth in the future with

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<v Speaker 3>potentially fewer new customers coming into the company.

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<v Speaker 1>All right, in the time we have left, let's move

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<v Speaker 1>back to the greens side of the screen. We've got

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<v Speaker 1>a new trillion dollar market cap company out there in

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<v Speaker 1>Micron dan.

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<v Speaker 3>Tick our Mu. It is up six percent in the

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<v Speaker 3>pre market on top of what on top of yesterday's game,

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<v Speaker 3>which push over that one trillion dollar market cap. As

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<v Speaker 3>you said, it's a memory company. This space has been

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<v Speaker 3>taking off overnight. We saw a competitor sk Heinex in Korea,

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<v Speaker 3>also topping one trillion dollars in market cap. Micron's move

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<v Speaker 3>comes off the back of UBS raising its price target

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<v Speaker 3>to about twice the stock price and applying shares could double.

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<v Speaker 3>It's bullish on the AI investment, saying that this this

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<v Speaker 3>breaks the traditional cycle goal pattern in memory companies now

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<v Speaker 3>seeing large back orders, which means demand could be out

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<v Speaker 3>kind of well beyond the typical waves of demand and

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<v Speaker 3>softness that these companies see. UBS's price target sixteen twenty

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<v Speaker 3>five is the street high, nearly five hundred dollars a

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<v Speaker 3>share higher than the second highest price target. All these

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<v Speaker 3>provide strong catalysts big momentum trade in pre market today.

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<v Speaker 2>This stockmover's report from Bloomberg Radio. Check back with us

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

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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