Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Dan Curtis on a
Speaker 3: morning with tech stocks in rally mode led by Micron.
Speaker 4: Good morning Dan, Good morning Nathan. That's right.
Speaker 5: Micron shares are up eighteen percent in pre market edder
Speaker 5: ticker MU. And that's as the memory companies sales forecast
Speaker 5: crushed estimates. It sees fifty billion in revenue in the
Speaker 5: current quarter. Analyst estimates were for forty three billion dollars.
Speaker 5: Gross margins for the period reported were at eighty five percent,
Speaker 5: a record level for the company. Demand for high bandwidth
Speaker 5: memory goes well out into twenty twenty eight and Micron
Speaker 5: has secured sixteen strategic customer agreements, and this just shows
Speaker 5: how much power Micron has went it comes to the table.
Speaker 5: These agreements average three years in length and can't be canceled.
Speaker 5: Customers have a minimum amount of volume they pay for,
Speaker 5: whether they order that much or not, and Micron has
Speaker 5: collected eighteen billion dollars in upfront cash for those companies
Speaker 5: to secure the contracts. That's more than the company's twenty
Speaker 5: twenty three total revenue.
Speaker 4: Absolute blowout period.
Speaker 3: And another chip stock of sorts is making news this morning, Dan,
Speaker 3: I got to tell you this news from IBM is
Speaker 3: seriously blowing my mind today.
Speaker 4: I can't even fathom it.
Speaker 5: So IBM shares are up five percent as the tech
Speaker 5: giant unveiled the world's first sub one nanometer chip. So
Speaker 5: Moore's law is alive and well today. This chip has
Speaker 5: a density of one transistor for every point seven nanometers
Speaker 5: or seven angstrums.
Speaker 4: That's the unit used to measure the width of DNA.
Speaker 5: Helix says it is three silicon atoms wide. Just absolutely
Speaker 5: amazing engineering, and that puts nearly one hundred billion transistors
Speaker 5: onto a chip the size of a fingernail.
Speaker 4: It's using new technology.
Speaker 5: It's called link nanostack architecture which vertically stacks and staggers
Speaker 5: the transitions, and IBMC is a path to production and
Speaker 5: as early as five years out. So a big breakthrough
Speaker 5: on the chip front this morning.
Speaker 3: Eventually the chips are just going to disappear and they're
Speaker 3: still going to have billions of transistors on them.
Speaker 1: It's unbelievable.
Speaker 5: I mean, it gets to the point where something called
Speaker 5: quantum tunneling is coming in and it's going to limit
Speaker 5: what they can do. Like we're at the quantum level.
Speaker 5: It's absolutely fascinating.
Speaker 1: Yeah, and then only ant Man I'll be able to
Speaker 1: see it.
Speaker 3: Oh, let's get off back on track here though, Dan,
Speaker 3: because we've got some deal news in the tech space
Speaker 3: for a company with a ticker symbol that I think
Speaker 3: a lot of tech companies.
Speaker 4: Would kill for absolutely tech.
Speaker 5: That's biotechne Merk KGaA that's the one based in Germany
Speaker 5: is buying the global life science company for seventy three
Speaker 5: dollars a share in cash that gives a total enterprise
Speaker 5: value about eleven billion dollars and is sending shares up
Speaker 5: twenty percent in pre market. They're trading around seventy to fifty,
Speaker 5: so a few dollars off that offer price. The proposed
Speaker 5: trans action has been approved by Biotechnic's board of directors,
Speaker 5: it still needs shareholder approval and regulatory sign off. That said,
Speaker 5: it's expected to close later this year or early next year,
Speaker 5: and Mirk will fund it through existing cash and new debt.
Speaker 3: Just time to tell us about the most actively traded
Speaker 3: stock this morning, and it's not Micron.
Speaker 1: It's Wendy's Dan.
Speaker 4: Yeah, it is becoming a new meme stock.
Speaker 5: The company shares are up sixteen percent, continuing the rally
Speaker 5: after yesterday's twenty five percent surge, which was the largest
Speaker 5: in many years. The company has been trending on stock
Speaker 5: twits and appears to be triggered from a post on
Speaker 5: Reddit's Wall Street Bets, which was later removed, and it
Speaker 5: implored members to quote save Wendy's before it was too late.
Speaker 4: End quote. This has the markings of mean stock.
Speaker 5: It's tumbled over seventy percent in the past three years,
Speaker 5: and short sellers have piled in two hundred million shares
Speaker 5: traded hands yesterday. That is twice the amount of the
Speaker 5: previous record, So a lot of activity in the stock.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
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