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 3: I'm Carol Masser along with Tim Staneviek. Let's take a
Speaker 3: look at some stocks on the move on this Wednesday
Speaker 3: with us as Bloomberg News Equities reporter Alexandra Semonova. She's
Speaker 3: back there at Bloomberg headquarters. All right, so alex let's
Speaker 3: start with Micron Technology.
Speaker 1: Hey guys, Yeah, this is a stock that is down
Speaker 1: about three percent right now, even as it gave a
Speaker 1: forecast that was generally upbeat, kind of highlighting how lofty
Speaker 1: the expectations are from investors around AI. Fiscal first quarter
Speaker 1: revenue will be around twelve point five billion dollars. That's
Speaker 1: above what Wall Street expected. The average was eleven point
Speaker 1: nine billion dollars, but some estimates went as high as
Speaker 1: thirteen billion dollars. Micron stock has of course doubled this year,
Speaker 1: rising at a faster pace than some of its peers,
Speaker 1: reflecting all the AI fueled optimism. Strong results from Oracle
Speaker 1: and Broadcom also added to this frends and of course
Speaker 1: raised the bar for a Micron the stock you know,
Speaker 1: obviously is down even despite a generally good earnings report. CFR,
Speaker 1: a research analyst, said that a Broadcom and Oracle results
Speaker 1: and also a slew of bullish cell side reviews had
Speaker 1: raised the bar so high that everyone was preparing for
Speaker 1: a Micron blowout. Rather, so this is why kind of
Speaker 1: there's some disappointment around this.
Speaker 4: Okay, Micron on your raidar. Charl Schwab is also a
Speaker 4: stock that you are watching. What's going on with Schwab today?
Speaker 1: Yeah, it is down today along with the broader market.
Speaker 1: But they did say today that they want to give
Speaker 1: retail investors access to private companies given the fact that
Speaker 1: there is a growing number of firms that have been
Speaker 1: industry giants before even going public. This is according to
Speaker 1: their CEO, Rick Worster. He cited financial technology company Stripe
Speaker 1: and of course are official intelligence company open AI as
Speaker 1: billion dollar companies that they want retail to be able
Speaker 1: to participate in. They also said that employees of these
Speaker 1: companies would love liquidity for their stock positions, and of
Speaker 1: course this follows the likes of Robinhood, which of course
Speaker 1: was kind of a pioneer in giving retail investors more
Speaker 1: access to different financial products. They also had said that
Speaker 1: they want their clients to be able to invest in
Speaker 1: private companies.
Speaker 3: I mean, Alex, you know this more than anybody, right,
Speaker 3: It's like everybody. It's all about private markets, and in particular,
Speaker 3: I feel like private credit that even on the retail
Speaker 3: level now everybody's kind of clamoring to figure out how
Speaker 3: to get it to their clients.
Speaker 1: Yeah. Absolutely, And I guess this is just a sign
Speaker 1: of the times. Given all the euphoria when you've had
Speaker 1: such a run up in the public markets, it's no
Speaker 1: surprise that, you know, investors and those offering financial products
Speaker 1: are trying to find a way to have their clients
Speaker 1: get into other asset classes as well. Given the interest
Speaker 1: in private companies.
Speaker 3: I was going to say, though, showaps had a nice
Speaker 3: run so far this year. I was looking at the
Speaker 3: dees page. It's septimbat twenty five percent here today.
Speaker 4: Alex, you mentioned that one of the reasons Shrob is
Speaker 4: looking into this is because of those high flying AI companies.
Speaker 4: We've got an AI story that you're watching next. Microsoft
Speaker 4: on the move today.
Speaker 1: Yeah, it is, so it is going to start using
Speaker 1: artificial intelligence models from Anthropic to help power its workplace
Speaker 1: AI stations. Business users of Microsoft's Copilot branded AI assistant
Speaker 1: will also be able to use this feature in addition
Speaker 1: to open ai, which they were using previously. Apparently, they'll
Speaker 1: be able to toggle between the two surfaces. Microsoft has
Speaker 1: taken kind of a leading position in commercializing AI for
Speaker 1: the workplace, largely thanks to that partnership with open Ai,
Speaker 1: the startup, of course behind chat GPT. And it's interesting
Speaker 1: because Anthropic was founded by a former AI employee, so
Speaker 1: and it also has been one of the largest competitors
Speaker 1: to open ai, so really interesting to see them also
Speaker 1: take this service.
Speaker 2: On the stockmover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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