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: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Continuing to
Speaker 1: wind down earning season, we've got some pretty big names
Speaker 1: reporting their results at this late stage, including Capri Holdings.
Speaker 1: Still some story to be told in the luxury space.
Speaker 1: Good morning Dan, Good morning Nathan.
Speaker 3: That's right, the company behind Michael Cores and Jimmy cho
Speaker 3: that is Capri Holdings. Those shares are up about three
Speaker 3: percent in the pre market under ticker CPRII. The company's
Speaker 3: fourth quarter revenue came in at seven hundred and ninety
Speaker 3: six million dollars. That was about in line with estimates. However,
Speaker 3: earnings came in at twenty two cents per share on
Speaker 3: an adjusted level, twice what the Wall Street was expecting.
Speaker 3: Company also said that sees twenty twenty seven first quarter
Speaker 3: EPs of forty cents, also above estimates. So we're getting
Speaker 3: a bottom line b out of that company. That's bring
Speaker 3: those shares higher all right.
Speaker 1: Now, we got some word that Appage is getting a
Speaker 1: big cash in fusion, but investors don't look like they're
Speaker 1: taking too kindly to this one.
Speaker 3: Dan, It's a double dose of news for this biotech company.
Speaker 3: And that's right. Appage ticker APGE is now down eighteen
Speaker 3: percent in pre market. We saw it up double digits
Speaker 3: before this. So we've had two pieces of news. So
Speaker 3: we first have had news that Blackstone was providing up
Speaker 3: to one point three billion dollars in financing. The money
Speaker 3: will be used to help advance the skin drug to
Speaker 3: treat multiple inflammatory diseases and a this is a drug
Speaker 3: that app he's looking out to twenty twenty nine for
Speaker 3: that pushed the shares up. However, since then, we've gotten
Speaker 3: results from a clinical study not full stage from phase
Speaker 3: two studies, but that has the shares down. This is
Speaker 3: for the results from an apex try in moderate to
Speaker 3: treat moderate to severe atopic dermatitis. The results from that
Speaker 3: do not seem to be pleasing the market this morning.
Speaker 1: Yeah, in a big way. With that eighteen percent drop
Speaker 1: that you mentioned, and even bigger drop this morning for
Speaker 1: z scaler. This is back to the earning story, right.
Speaker 3: Yeah, back to the earning story and down twenty three
Speaker 3: percent in the pre market under ticker zs Z. Scaler
Speaker 3: is a cloud based cybersecurity company and its fiscal fourth
Speaker 3: quarter revenue estimate was weaker than expected, so that has
Speaker 3: the shares down despite the company beating third quarter top
Speaker 3: and bottom line and estimates and increasing Foliar guidance. So
Speaker 3: that's pointing towards weakness in the current period. The preliminary
Speaker 3: annual recurring revenue for the next fiscal year of about
Speaker 3: sixteen percent is indicating a slowdown and Bloomberg intelligences that
Speaker 3: suggests muted new customer additions. So long term, there is
Speaker 3: concern about that top line growth in the future with
Speaker 3: potentially fewer new customers coming into the company.
Speaker 1: All right, in the time we have left, let's move
Speaker 1: back to the greens side of the screen. We've got
Speaker 1: a new trillion dollar market cap company out there in
Speaker 1: Micron dan.
Speaker 3: Tick our Mu. It is up six percent in the
Speaker 3: pre market on top of what on top of yesterday's game,
Speaker 3: which push over that one trillion dollar market cap. As
Speaker 3: you said, it's a memory company. This space has been
Speaker 3: taking off overnight. We saw a competitor sk Heinex in Korea,
Speaker 3: also topping one trillion dollars in market cap. Micron's move
Speaker 3: comes off the back of UBS raising its price target
Speaker 3: to about twice the stock price and applying shares could double.
Speaker 3: It's bullish on the AI investment, saying that this this
Speaker 3: breaks the traditional cycle goal pattern in memory companies now
Speaker 3: seeing large back orders, which means demand could be out
Speaker 3: kind of well beyond the typical waves of demand and
Speaker 3: softness that these companies see. UBS's price target sixteen twenty
Speaker 3: five is the street high, nearly five hundred dollars a
Speaker 3: share higher than the second highest price target. All these
Speaker 3: provide strong catalysts big momentum trade in pre market today.
Speaker 2: This stockmover's report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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