WEBVTT - Corteva Falls, CoreWeave Jumps, Alphabet $3 Trillion Club, Tesla 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 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Tim Steneveek along with Carol Masser, and we're joined

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<v Speaker 1>by Bloomberg News equity supporter Nour Melinda Nora. What's on

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<v Speaker 1>your radar today, Well, let's.

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<v Speaker 3>Take a look at shares of Coretiva. That's taker Ctva here,

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<v Speaker 3>and this is an agricultural products company. We saw shares

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<v Speaker 3>that fell about five point seven percent at market close today.

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<v Speaker 3>This is the most that we'd seen since April here,

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<v Speaker 3>and this is essentially after Wall Street said that they

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<v Speaker 3>are finding a potential breakup of the company. They're seed

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<v Speaker 3>and pesticized businesses as a negative for the firm. They're

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<v Speaker 3>saying that break up, the breakup undermines the product and

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<v Speaker 3>financial logic. That was BI saying that, and then Bank

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<v Speaker 3>of America saying that a separation to create two weaker entities. So,

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<v Speaker 3>of course, as we're getting all of this uh digestion

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<v Speaker 3>and people really just trying to figure out what this

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<v Speaker 3>would mean, this break up here. Wall Street does not

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<v Speaker 3>seem to be pleased.

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<v Speaker 1>Here we we should talk a little bit about how

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<v Speaker 1>this was a subsidiary of Dow DuPont and then there

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<v Speaker 1>was a Qua spin off back in like pre pandemic,

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<v Speaker 1>so then this would be like a spin off of

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<v Speaker 1>a spinoff.

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<v Speaker 2>Is that what?

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<v Speaker 4>I don't know.

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<v Speaker 5>I just these names that totally erase the history of

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<v Speaker 5>a company, essentially.

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<v Speaker 1>Please, I called the company today to figure out how

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<v Speaker 1>to say it. Did you? Cheryl Master taught me this? Great.

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<v Speaker 5>That's a really bad technique.

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<v Speaker 1>So it's a great technique. What do they say, Oh,

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<v Speaker 1>it's brilliant.

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<v Speaker 5>You just call and they pick up and they're.

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<v Speaker 1>Like, oh no, it's a recording sometimes too.

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<v Speaker 5>But if they pick up, you say or whatever.

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<v Speaker 1>Right, yeah, so which one is it?

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<v Speaker 3>Okay? Well, there we go. We have it.

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<v Speaker 4>I've put up on real people where they're like, well,

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<v Speaker 4>I can say, hey, I'm just wondering how this company

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<v Speaker 4>name is set, because it's like some of these names

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<v Speaker 4>are just made up, like Mandali's, Like, that's a made

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<v Speaker 4>up name.

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<v Speaker 2>I know.

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<v Speaker 5>Isn't that like a ride or a land in Disneyland?

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<v Speaker 1>I don't know, go to Mondoli?

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<v Speaker 3>Great anyway important company, Yes, one that I do know

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<v Speaker 3>how to pronounce. Core Weaves get shared IPO this year,

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<v Speaker 3>IPO this year. This is take or CRWV. Here we

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<v Speaker 3>saw shares that were up about seven point six percent

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<v Speaker 3>at market clothes and of course we know in Video

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<v Speaker 3>is a shareholder of this company. In Vidia has agreed

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<v Speaker 3>to buy cloud services valued at six point three billion dollars.

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<v Speaker 3>Of course, as you'd expect, the stock had a nice

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<v Speaker 3>pop today. This deal would require Nvidia to buy any

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<v Speaker 3>access to any excess capacity not used by its customers,

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<v Speaker 3>and this deal would run through twenty thirty two, and

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<v Speaker 3>Video saying that the agreement guarantees AI computing capacity will

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<v Speaker 3>be in place when needed to support startups and small

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<v Speaker 3>to mid size companies. And I mean just since the IPO,

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<v Speaker 3>if you look a year today, basis shares of core

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<v Speaker 3>Weaver up about two hundred and one percentas closed.

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<v Speaker 5>Core Weave has these big contracts, all of the hyperscalers

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<v Speaker 5>Microsoft as you mentioned, and Video and name Vidia deal

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<v Speaker 5>was announced a couple of years ago, right, So it's

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<v Speaker 5>just but it gives it, I guess, some transparency and

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<v Speaker 5>longevity in terms of understanding kind of the business to come.

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<v Speaker 3>It's just such an interesting stock to keep an eye

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<v Speaker 3>on it. It's what tripled since it's IPO. I mean,

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<v Speaker 3>I guess for investors here, they're seeing some pretty nice

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<v Speaker 3>returns this year.

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<v Speaker 5>Yeah, Microsoft are a huge customer of these guys. Right,

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<v Speaker 5>let's go to Alphabet. This was a big day for

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<v Speaker 5>this company.

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<v Speaker 3>This was a big day. I mean, of course, we

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<v Speaker 3>know this is a megacap that we all keep eyes

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<v Speaker 3>on here, but Alphabet joined the three trillion dollar club.

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<v Speaker 3>They are seeing that some of the key risks are

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<v Speaker 3>seen easing here. We know that this is a very

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<v Speaker 3>elite group to join the trillion dollar club. So I mean,

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<v Speaker 3>this is super great for the company. Here, we saw

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<v Speaker 3>shares of Alphabet that's taker Googl they were higher about

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<v Speaker 3>four point five percent, and as you'd expect, its highest

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<v Speaker 3>level ever. Just to call that out there, but this

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<v Speaker 3>was essentially fueled by a long awaited anti trust ruling

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<v Speaker 3>and second quarder earnings that showed demand for AI products

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<v Speaker 3>is lifting sales here. So I mean, I'm just looking

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<v Speaker 3>at the chart here, it's some really high up here

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<v Speaker 3>in the green. Chears of Alphabet are up about fifty

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<v Speaker 3>five percent so far this year.

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<v Speaker 5>Yeah, and was it City that raised I think their

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<v Speaker 5>outlook not outlook, who's your price?

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<v Speaker 3>Tast target company from two twenty five. They're pointing toward

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<v Speaker 3>an accelerated product development cycle that's beginning to emerge, and

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<v Speaker 3>they also point towards Gemini adoption both across the ads

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<v Speaker 3>and cloud businesses here.

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<v Speaker 5>So some of the regulatory legal overhang, right, it's gone

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<v Speaker 5>a way, so it lets the company have I guess

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<v Speaker 5>a more certain outlook visibility if you will goome.

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<v Speaker 4>Yeah.

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<v Speaker 1>I was a shocked to see the move post Chrome ruling.

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<v Speaker 1>That was huge.

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<v Speaker 5>Yeah, yeah, I'm what everybody was like, doing this crazy

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<v Speaker 5>like or people offering to buy Chrome.

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<v Speaker 1>It seemed like perplexity made like a very unrealistic offer.

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<v Speaker 1>Do we have time for one more?

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<v Speaker 3>Yeah? Let me see the more in there, Tesla. We

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<v Speaker 3>can't stop talking about that. Tak your tsla if you

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<v Speaker 3>didn't know it already. We are seeing the stock popping,

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<v Speaker 3>of course today because Musk bought one billion dollars worth

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<v Speaker 3>of shares in the company. Of course, we're really been

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<v Speaker 3>thinking about the fact that they were boosting its pay

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<v Speaker 3>We've been talking about the board and this seems to

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<v Speaker 3>be his reaction to it, so of course, shareholders, or

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<v Speaker 3>please hear shares of Tesla up fifty percent. You're okay.

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<v Speaker 1>It sounds like a lot of money. Billion dollars is

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<v Speaker 1>a lot of money. But Elon Musk's net worth increased

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<v Speaker 1>today by ten point two billion dollars.

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<v Speaker 5>Yeah, so that's a nice return.

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<v Speaker 1>So he buys I'll take it.

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<v Speaker 5>He buys a billion, but make nineteen eight.

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<v Speaker 1>Well it updated once again since I last said it's

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<v Speaker 1>now Now it's ten point two, so make ten point two. Yeah,

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<v Speaker 1>so that's fine. Rich, go on the Bloomberg terminal.

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<v Speaker 3>A lot of days were fun function.

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<v Speaker 2>This stock Movers report from Bloomberg Radio. Check back with

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