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 Tim Steneveek along with Carol Masser, and we're joined
Speaker 1: by Bloomberg News equity supporter Nour Melinda Nora. What's on
Speaker 1: your radar today, Well, let's.
Speaker 3: Take a look at shares of Coretiva. That's taker Ctva here,
Speaker 3: and this is an agricultural products company. We saw shares
Speaker 3: that fell about five point seven percent at market close today.
Speaker 3: This is the most that we'd seen since April here,
Speaker 3: and this is essentially after Wall Street said that they
Speaker 3: are finding a potential breakup of the company. They're seed
Speaker 3: and pesticized businesses as a negative for the firm. They're
Speaker 3: saying that break up, the breakup undermines the product and
Speaker 3: financial logic. That was BI saying that, and then Bank
Speaker 3: of America saying that a separation to create two weaker entities. So,
Speaker 3: of course, as we're getting all of this uh digestion
Speaker 3: and people really just trying to figure out what this
Speaker 3: would mean, this break up here. Wall Street does not
Speaker 3: seem to be pleased.
Speaker 1: Here we we should talk a little bit about how
Speaker 1: this was a subsidiary of Dow DuPont and then there
Speaker 1: was a Qua spin off back in like pre pandemic,
Speaker 1: so then this would be like a spin off of
Speaker 1: a spinoff.
Speaker 2: Is that what?
Speaker 4: I don't know.
Speaker 5: I just these names that totally erase the history of
Speaker 5: a company, essentially.
Speaker 1: Please, I called the company today to figure out how
Speaker 1: to say it. Did you? Cheryl Master taught me this? Great.
Speaker 5: That's a really bad technique.
Speaker 1: So it's a great technique. What do they say, Oh,
Speaker 1: it's brilliant.
Speaker 5: You just call and they pick up and they're.
Speaker 1: Like, oh no, it's a recording sometimes too.
Speaker 5: But if they pick up, you say or whatever.
Speaker 1: Right, yeah, so which one is it?
Speaker 3: Okay? Well, there we go. We have it.
Speaker 4: I've put up on real people where they're like, well,
Speaker 4: I can say, hey, I'm just wondering how this company
Speaker 4: name is set, because it's like some of these names
Speaker 4: are just made up, like Mandali's, Like, that's a made
Speaker 4: up name.
Speaker 2: I know.
Speaker 5: Isn't that like a ride or a land in Disneyland?
Speaker 1: I don't know, go to Mondoli?
Speaker 3: Great anyway important company, Yes, one that I do know
Speaker 3: how to pronounce. Core Weaves get shared IPO this year,
Speaker 3: IPO this year. This is take or CRWV. Here we
Speaker 3: saw shares that were up about seven point six percent
Speaker 3: at market clothes and of course we know in Video
Speaker 3: is a shareholder of this company. In Vidia has agreed
Speaker 3: to buy cloud services valued at six point three billion dollars.
Speaker 3: Of course, as you'd expect, the stock had a nice
Speaker 3: pop today. This deal would require Nvidia to buy any
Speaker 3: access to any excess capacity not used by its customers,
Speaker 3: and this deal would run through twenty thirty two, and
Speaker 3: Video saying that the agreement guarantees AI computing capacity will
Speaker 3: be in place when needed to support startups and small
Speaker 3: to mid size companies. And I mean just since the IPO,
Speaker 3: if you look a year today, basis shares of core
Speaker 3: Weaver up about two hundred and one percentas closed.
Speaker 5: Core Weave has these big contracts, all of the hyperscalers
Speaker 5: Microsoft as you mentioned, and Video and name Vidia deal
Speaker 5: was announced a couple of years ago, right, So it's
Speaker 5: just but it gives it, I guess, some transparency and
Speaker 5: longevity in terms of understanding kind of the business to come.
Speaker 3: It's just such an interesting stock to keep an eye
Speaker 3: on it. It's what tripled since it's IPO. I mean,
Speaker 3: I guess for investors here, they're seeing some pretty nice
Speaker 3: returns this year.
Speaker 5: Yeah, Microsoft are a huge customer of these guys. Right,
Speaker 5: let's go to Alphabet. This was a big day for
Speaker 5: this company.
Speaker 3: This was a big day. I mean, of course, we
Speaker 3: know this is a megacap that we all keep eyes
Speaker 3: on here, but Alphabet joined the three trillion dollar club.
Speaker 3: They are seeing that some of the key risks are
Speaker 3: seen easing here. We know that this is a very
Speaker 3: elite group to join the trillion dollar club. So I mean,
Speaker 3: this is super great for the company. Here, we saw
Speaker 3: shares of Alphabet that's taker Googl they were higher about
Speaker 3: four point five percent, and as you'd expect, its highest
Speaker 3: level ever. Just to call that out there, but this
Speaker 3: was essentially fueled by a long awaited anti trust ruling
Speaker 3: and second quarder earnings that showed demand for AI products
Speaker 3: is lifting sales here. So I mean, I'm just looking
Speaker 3: at the chart here, it's some really high up here
Speaker 3: in the green. Chears of Alphabet are up about fifty
Speaker 3: five percent so far this year.
Speaker 5: Yeah, and was it City that raised I think their
Speaker 5: outlook not outlook, who's your price?
Speaker 3: Tast target company from two twenty five. They're pointing toward
Speaker 3: an accelerated product development cycle that's beginning to emerge, and
Speaker 3: they also point towards Gemini adoption both across the ads
Speaker 3: and cloud businesses here.
Speaker 5: So some of the regulatory legal overhang, right, it's gone
Speaker 5: a way, so it lets the company have I guess
Speaker 5: a more certain outlook visibility if you will goome.
Speaker 4: Yeah.
Speaker 1: I was a shocked to see the move post Chrome ruling.
Speaker 1: That was huge.
Speaker 5: Yeah, yeah, I'm what everybody was like, doing this crazy
Speaker 5: like or people offering to buy Chrome.
Speaker 1: It seemed like perplexity made like a very unrealistic offer.
Speaker 1: Do we have time for one more?
Speaker 3: Yeah? Let me see the more in there, Tesla. We
Speaker 3: can't stop talking about that. Tak your tsla if you
Speaker 3: didn't know it already. We are seeing the stock popping,
Speaker 3: of course today because Musk bought one billion dollars worth
Speaker 3: of shares in the company. Of course, we're really been
Speaker 3: thinking about the fact that they were boosting its pay
Speaker 3: We've been talking about the board and this seems to
Speaker 3: be his reaction to it, so of course, shareholders, or
Speaker 3: please hear shares of Tesla up fifty percent. You're okay.
Speaker 1: It sounds like a lot of money. Billion dollars is
Speaker 1: a lot of money. But Elon Musk's net worth increased
Speaker 1: today by ten point two billion dollars.
Speaker 5: Yeah, so that's a nice return.
Speaker 1: So he buys I'll take it.
Speaker 5: He buys a billion, but make nineteen eight.
Speaker 1: Well it updated once again since I last said it's
Speaker 1: now Now it's ten point two, so make ten point two. Yeah,
Speaker 1: so that's fine. Rich, go on the Bloomberg terminal.
Speaker 3: A lot of days were fun function.
Speaker 2: This stock Movers 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 it is
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto with the Bloomberg Business app.