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 Stan Curtis on a
Speaker 1: mostly positive Wednesday morning. Dan, you're starting us off with
Speaker 1: the biggest decliner in the pre market. What's behind the
Speaker 1: move for Cerebras? Good morning, Good.
Speaker 3: Morning, Nathan. Cerebra shares are down thirteen percent, and this
Speaker 3: is a sign of just where the AI trade is.
Speaker 3: So the chip maker's annual forecast beat estimates, but not
Speaker 3: by enough to impress Wall Street. The company came in
Speaker 3: with guidance of around eight hundred and sixty million dollars
Speaker 3: for the period. The average projection was around eight hundred
Speaker 3: and thirty million. But Wall Street has become accustomed to
Speaker 3: large beat and raises, and so it's raising the bar
Speaker 3: for what impresses shareholders. That's putting the shares on the
Speaker 3: back foot. Under ticker CBRS, this company is just reported
Speaker 3: its first earnings since it went public. The share the
Speaker 3: shares are around one hundred and ninety seven dollars in
Speaker 3: the pre market iPod at one eighty five. But right
Speaker 3: now we're looking at potentially the lowest price of public
Speaker 3: trading since that IPO man.
Speaker 1: We're seeing a pretty big decline as well. For another
Speaker 1: major firm that reported earnings, fed X.
Speaker 3: Yeah, so FedEx shares are down about seven and a
Speaker 3: half percent in the pre market tick our FDx as
Speaker 3: headwinds pushed the shares lower after a thirty seven percent
Speaker 3: gain year to date into the earnings. The courier beat
Speaker 3: low fiscal fourth quarter earnings estimates but signaled there's still
Speaker 3: turbulence in the market. The grounding of its MD eleven
Speaker 3: cargo jet fleet complicate operations for the quarter, and profit
Speaker 3: margin for the period fell to eight point four percent,
Speaker 3: below estimates. The CEO sees higher wages and transportation rates,
Speaker 3: as well as other inflationary pressures, increasing costs by two
Speaker 3: point six billion dollars this year, so margin's very much
Speaker 3: in focus today. Fed X is working on ways to
Speaker 3: those margins, prioritizing healthcare and aerospace parcels, both of which
Speaker 3: tend to carry higher profits. But that's not enough to
Speaker 3: aid the shares.
Speaker 1: This morning, all right, let's turn to the positive side
Speaker 1: of the ledger. The biggest gainer pre market this morning
Speaker 1: is Whendy's the new memes talk Dan.
Speaker 3: It might think so, but it is actually a duo
Speaker 3: coming together. So Wendy's Taker Wen is up twenty percent
Speaker 3: in the pre market, and it appointed Steve Surrelius a CFO,
Speaker 3: replacing Ken Cook will remain in an advisory position through
Speaker 3: next month. Why this replacement is so important, though, is
Speaker 3: it comes on the heels of Bob Wright becoming Wendy
Speaker 3: CEO last month. The two of them both used to
Speaker 3: work for Pomp Belly, So the DEO is you reunited
Speaker 3: after turning around that company. And Bloomberg Intelligence does see
Speaker 3: this as a single that more management changes are likely
Speaker 3: as the CEO is in about his first month in
Speaker 3: the new position and he is looking to change the
Speaker 3: direction of Wendy's and that is helping change the direction
Speaker 3: this morning.
Speaker 1: I should note the interest of transparency Pop. He makes
Speaker 1: a decent sandwich. Close us out here, Dan, as we
Speaker 1: look ahead to probably the biggest earning story of the
Speaker 1: week from Micron.
Speaker 3: Absolutely so we have Micron shares rebounding about three percent
Speaker 3: undertaker MU earnings after the bell, and expectations are high,
Speaker 3: with Wall Street forecasting nearly one thousand percent increase and
Speaker 3: adjusted earnings per share from last week. Margin expansion a
Speaker 3: huge tailwe here and guidance will be key. We need
Speaker 3: to see memory demands being supported, not just this year
Speaker 3: but next year. This will be keith the AI trade
Speaker 3: for the rest of the week.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
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