1 00:00:02,520 --> 00:00:10,520 Speaker 1: Bloomberg Audio Studios, podcasts, Radio News, the Stock Movers podcast. 2 00:00:12,080 --> 00:00:14,840 Speaker 1: This is your roundup of companies making news on Wall 3 00:00:14,880 --> 00:00:19,959 Speaker 1: Street and beyond. Harnessing the power of Bloomberg Data, Let's 4 00:00:19,960 --> 00:00:21,680 Speaker 1: take a look at some stocks on the move today. 5 00:00:21,680 --> 00:00:24,440 Speaker 1: We are joined by Bloomberg's Critti Gupta on a morning 6 00:00:24,480 --> 00:00:27,000 Speaker 1: with tech stocks leading the games this morning. Take us 7 00:00:27,040 --> 00:00:28,840 Speaker 1: out to the hood. Critty, what's got your eye? 8 00:00:29,120 --> 00:00:31,800 Speaker 2: Yeah, good morning, Nathan. A lot of the underperformers the 9 00:00:31,880 --> 00:00:33,640 Speaker 2: last couple of weeks, kind of this rotation that we 10 00:00:33,640 --> 00:00:35,800 Speaker 2: were talking about out of the tech space, are having 11 00:00:35,920 --> 00:00:38,360 Speaker 2: a pretty decent pre market trade this morning. I'll start 12 00:00:38,360 --> 00:00:42,040 Speaker 2: off with Tesla. Tsla hired by about four percent this 13 00:00:42,280 --> 00:00:44,600 Speaker 2: morning and kind of leading a lot of the big 14 00:00:44,640 --> 00:00:46,440 Speaker 2: tech names that we traditionally look at. So let me 15 00:00:46,479 --> 00:00:47,960 Speaker 2: just kind of give you a laundry list of the 16 00:00:48,000 --> 00:00:52,840 Speaker 2: positivity here, Nathan, Meta Platform, for example, m ETA getting 17 00:00:52,840 --> 00:00:54,800 Speaker 2: a boost this morning, hired by two point four percent. 18 00:00:54,840 --> 00:00:56,800 Speaker 2: Advanced micro devices as well as a lot of the 19 00:00:56,880 --> 00:00:59,160 Speaker 2: chip makers are hired this morning as well, hired by 20 00:00:59,200 --> 00:01:01,040 Speaker 2: about two point four percent, as well as some of 21 00:01:01,040 --> 00:01:04,759 Speaker 2: the old guard techs I'm talking about, Oracle Timodell, even HP. 22 00:01:04,880 --> 00:01:07,440 Speaker 2: They're all hired to the tune of about two percent 23 00:01:07,520 --> 00:01:09,240 Speaker 2: for all of those stocks. D E, L, l O, 24 00:01:09,440 --> 00:01:12,520 Speaker 2: r CL are two of the heaviest moves in terms 25 00:01:12,560 --> 00:01:14,520 Speaker 2: of volume this morning, and I'm gonna throw in a 26 00:01:14,520 --> 00:01:17,440 Speaker 2: little cybersecurity in there as well. Palo Alto Networks pa 27 00:01:17,600 --> 00:01:20,520 Speaker 2: NW also higher five out one point eight percent. Nathan, 28 00:01:20,520 --> 00:01:22,160 Speaker 2: if you haven't gotten the hint yet, if you are 29 00:01:22,280 --> 00:01:25,399 Speaker 2: tech related this morning, you are having a good day. 30 00:01:25,440 --> 00:01:28,039 Speaker 2: And I think that's really significant because over in the 31 00:01:28,040 --> 00:01:31,560 Speaker 2: Asia session we also got a report that ant Group, 32 00:01:31,560 --> 00:01:33,759 Speaker 2: which is a subsidiary of Ali Baba and of course 33 00:01:33,840 --> 00:01:38,200 Speaker 2: Jackma's Empire, did develop some sort of AI product that 34 00:01:38,520 --> 00:01:40,760 Speaker 2: was able to show some similar results to that of 35 00:01:40,800 --> 00:01:42,320 Speaker 2: deep Seak, and that they were able to do some 36 00:01:42,360 --> 00:01:47,280 Speaker 2: more AI capabilities with less costs involved or less cost 37 00:01:47,319 --> 00:01:50,360 Speaker 2: per kind of productivity involved. That actually gave a pretty 38 00:01:50,400 --> 00:01:52,480 Speaker 2: big boost to Chinese tech stocks. It's a little bit 39 00:01:52,520 --> 00:01:55,520 Speaker 2: of that momentum into Europe as well. SAP, the big 40 00:01:55,520 --> 00:01:59,280 Speaker 2: German software company here in Europe, has officially become the 41 00:01:59,440 --> 00:02:02,640 Speaker 2: biggest in terms of market cap, overtaking Novo Nordisk. So 42 00:02:02,640 --> 00:02:05,360 Speaker 2: that is a pretty good kind of double tailwind for 43 00:02:05,400 --> 00:02:07,240 Speaker 2: a lot of the tech stocks over in the States, 44 00:02:07,280 --> 00:02:09,520 Speaker 2: and as I said, you are already seeing an element 45 00:02:09,600 --> 00:02:12,359 Speaker 2: of that in some of the pre market trade. It's 46 00:02:12,400 --> 00:02:14,920 Speaker 2: not the only one, though, There's still plenty of others 47 00:02:15,160 --> 00:02:18,560 Speaker 2: worth keeping in mind. So several on the downside. Though 48 00:02:18,600 --> 00:02:20,880 Speaker 2: we talked about the tech positivity in the megacaps, let's 49 00:02:20,919 --> 00:02:23,280 Speaker 2: talk about it in some of the smaller companies as well. 50 00:02:23,320 --> 00:02:27,880 Speaker 2: Super Micro is catching our eyes this morning. Smci's your ticker, 51 00:02:27,919 --> 00:02:30,560 Speaker 2: shares down about three percent this morning. Should mention it's not, 52 00:02:30,560 --> 00:02:32,040 Speaker 2: of course in the S and P five hundred, but 53 00:02:32,080 --> 00:02:34,040 Speaker 2: still a stock that a lot of folks trade, especially 54 00:02:34,040 --> 00:02:37,960 Speaker 2: in the retail space. Goldman Sachs cutting the recommendation on 55 00:02:38,040 --> 00:02:41,400 Speaker 2: the chip maker to a sell from a neutral. The 56 00:02:41,440 --> 00:02:44,680 Speaker 2: analyst over there saying that the downgrade is reflecting AI 57 00:02:44,880 --> 00:02:48,079 Speaker 2: server competition and margin pressures. We're looking at a price 58 00:02:48,160 --> 00:02:51,200 Speaker 2: target set to about thirty two dollars a share. The 59 00:02:51,280 --> 00:02:53,839 Speaker 2: last close was that forty two dollars and fifteen cents 60 00:02:54,240 --> 00:02:58,680 Speaker 2: a share. So SMCI is your ticker for that stock. 61 00:02:59,280 --> 00:03:01,800 Speaker 2: Let's talk about a couple of other analysts recommendations that 62 00:03:01,840 --> 00:03:04,600 Speaker 2: are moving the market this morning, this time in the 63 00:03:04,840 --> 00:03:06,840 Speaker 2: packaged food space, which is a little bit of a 64 00:03:06,880 --> 00:03:10,440 Speaker 2: transition here. So at General Mills they are getting a 65 00:03:10,720 --> 00:03:15,079 Speaker 2: underweight initiation. Over at Morgan Stanley, the analysts just begin 66 00:03:15,200 --> 00:03:17,560 Speaker 2: coverage of the US packaged food sector so that there 67 00:03:17,560 --> 00:03:20,959 Speaker 2: are better options than General Mills. So you are seeing 68 00:03:21,160 --> 00:03:25,800 Speaker 2: GIS is your ticker just shy of about one percent, 69 00:03:25,919 --> 00:03:28,840 Speaker 2: so you can see some kind of drops in weight 70 00:03:29,280 --> 00:03:31,760 Speaker 2: on that stock. And I'll wrap it up Nathan with 71 00:03:31,880 --> 00:03:35,080 Speaker 2: Lockheed Martin, which is your biggest pre market drop this 72 00:03:35,200 --> 00:03:39,240 Speaker 2: morning in the S and P five hundred LMT is 73 00:03:39,360 --> 00:03:42,720 Speaker 2: your ticker and the shares are just shy of. We'll 74 00:03:42,720 --> 00:03:44,280 Speaker 2: caught one and a half percent, but it is moving 75 00:03:44,320 --> 00:03:47,840 Speaker 2: just down about two percent. It's also gotten a downgrade, 76 00:03:47,920 --> 00:03:50,400 Speaker 2: it looks like from a couple of places actually talking 77 00:03:50,400 --> 00:03:54,560 Speaker 2: about competitive losses and that Europe may actually be a 78 00:03:54,600 --> 00:03:57,080 Speaker 2: better beneficiar. I'm seeing a downgrade at Bank of America 79 00:03:57,400 --> 00:03:59,920 Speaker 2: and Melius Research, among a couple of others as well. 80 00:04:01,040 --> 00:04:05,400 Speaker 1: The Stockmovers podcast from Bloomberg Radio. Check back with us 81 00:04:05,440 --> 00:04:08,360 Speaker 1: throughout the day for the latest roundup of companies making 82 00:04:08,440 --> 00:04:12,000 Speaker 1: news on Wall Street and for the latest market moving headlines. 83 00:04:12,160 --> 00:04:16,080 Speaker 1: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 84 00:04:16,120 --> 00:04:18,960 Speaker 1: dot com, and on Applecarplay and Android Auto with the 85 00:04:18,960 --> 00:04:20,320 Speaker 1: Bloomberg Business app.