WEBVTT - Cerebras and FedEx Dip; Wendy's CFO Change; Micron Up Ahead Earnings

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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 Nathan Hager, joined by Bloomberg Stan Curtis on a

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<v Speaker 1>mostly positive Wednesday morning. Dan, you're starting us off with

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<v Speaker 1>the biggest decliner in the pre market. What's behind the

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<v Speaker 1>move for Cerebras? Good morning, Good.

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<v Speaker 3>Morning, Nathan. Cerebra shares are down thirteen percent, and this

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<v Speaker 3>is a sign of just where the AI trade is.

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<v Speaker 3>So the chip maker's annual forecast beat estimates, but not

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<v Speaker 3>by enough to impress Wall Street. The company came in

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<v Speaker 3>with guidance of around eight hundred and sixty million dollars

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<v Speaker 3>for the period. The average projection was around eight hundred

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<v Speaker 3>and thirty million. But Wall Street has become accustomed to

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<v Speaker 3>large beat and raises, and so it's raising the bar

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<v Speaker 3>for what impresses shareholders. That's putting the shares on the

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<v Speaker 3>back foot. Under ticker CBRS, this company is just reported

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<v Speaker 3>its first earnings since it went public. The share the

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<v Speaker 3>shares are around one hundred and ninety seven dollars in

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<v Speaker 3>the pre market iPod at one eighty five. But right

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<v Speaker 3>now we're looking at potentially the lowest price of public

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<v Speaker 3>trading since that IPO man.

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<v Speaker 1>We're seeing a pretty big decline as well. For another

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<v Speaker 1>major firm that reported earnings, fed X.

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<v Speaker 3>Yeah, so FedEx shares are down about seven and a

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<v Speaker 3>half percent in the pre market tick our FDx as

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<v Speaker 3>headwinds pushed the shares lower after a thirty seven percent

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<v Speaker 3>gain year to date into the earnings. The courier beat

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<v Speaker 3>low fiscal fourth quarter earnings estimates but signaled there's still

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<v Speaker 3>turbulence in the market. The grounding of its MD eleven

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<v Speaker 3>cargo jet fleet complicate operations for the quarter, and profit

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<v Speaker 3>margin for the period fell to eight point four percent,

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<v Speaker 3>below estimates. The CEO sees higher wages and transportation rates,

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<v Speaker 3>as well as other inflationary pressures, increasing costs by two

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<v Speaker 3>point six billion dollars this year, so margin's very much

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<v Speaker 3>in focus today. Fed X is working on ways to

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<v Speaker 3>those margins, prioritizing healthcare and aerospace parcels, both of which

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<v Speaker 3>tend to carry higher profits. But that's not enough to

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<v Speaker 3>aid the shares.

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<v Speaker 1>This morning, all right, let's turn to the positive side

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<v Speaker 1>of the ledger. The biggest gainer pre market this morning

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<v Speaker 1>is Whendy's the new memes talk Dan.

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<v Speaker 3>It might think so, but it is actually a duo

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<v Speaker 3>coming together. So Wendy's Taker Wen is up twenty percent

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<v Speaker 3>in the pre market, and it appointed Steve Surrelius a CFO,

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<v Speaker 3>replacing Ken Cook will remain in an advisory position through

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<v Speaker 3>next month. Why this replacement is so important, though, is

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<v Speaker 3>it comes on the heels of Bob Wright becoming Wendy

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<v Speaker 3>CEO last month. The two of them both used to

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<v Speaker 3>work for Pomp Belly, So the DEO is you reunited

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<v Speaker 3>after turning around that company. And Bloomberg Intelligence does see

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<v Speaker 3>this as a single that more management changes are likely

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<v Speaker 3>as the CEO is in about his first month in

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<v Speaker 3>the new position and he is looking to change the

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<v Speaker 3>direction of Wendy's and that is helping change the direction

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<v Speaker 3>this morning.

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<v Speaker 1>I should note the interest of transparency Pop. He makes

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<v Speaker 1>a decent sandwich. Close us out here, Dan, as we

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<v Speaker 1>look ahead to probably the biggest earning story of the

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<v Speaker 1>week from Micron.

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<v Speaker 3>Absolutely so we have Micron shares rebounding about three percent

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<v Speaker 3>undertaker MU earnings after the bell, and expectations are high,

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<v Speaker 3>with Wall Street forecasting nearly one thousand percent increase and

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<v Speaker 3>adjusted earnings per share from last week. Margin expansion a

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<v Speaker 3>huge tailwe here and guidance will be key. We need

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<v Speaker 3>to see memory demands being supported, not just this year

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<v Speaker 3>but next year. This will be keith the AI trade

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<v Speaker 3>for the rest of the week.

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

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