1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,880 --> 00:00:13,320 Speaker 2: This is the closing bell on this stock movers report 3 00:00:13,560 --> 00:00:16,520 Speaker 2: the company's making moves at the close of US trading 4 00:00:16,760 --> 00:00:21,319 Speaker 2: with Carol Masser, Tim Stenobeck, Romaine Bostick, and Scarlet Fool. 5 00:00:22,120 --> 00:00:24,160 Speaker 3: You know, we've been talking about this all day, maybe 6 00:00:24,200 --> 00:00:26,240 Speaker 3: you guys have too. But the S and P five hundred. 7 00:00:26,320 --> 00:00:28,720 Speaker 3: You go in, though, and you see almost an even 8 00:00:28,800 --> 00:00:31,360 Speaker 3: split between winners and losers. Two hundred and fifty seven 9 00:00:31,440 --> 00:00:34,240 Speaker 3: names in the S and P five hundred gaining ground today, 10 00:00:34,320 --> 00:00:37,000 Speaker 3: Katie two hundred and forty four to the downside, two unchanged. 11 00:00:37,200 --> 00:00:39,400 Speaker 4: It's slightly uglier if you take a look at the 12 00:00:39,440 --> 00:00:42,519 Speaker 4: circle which shows us what the sectors did today. Certainly 13 00:00:42,760 --> 00:00:45,080 Speaker 4: that doesn't look too great in terms of what did 14 00:00:45,159 --> 00:00:47,680 Speaker 4: outperform today. As I mentioned, energy as a sector hired 15 00:00:47,720 --> 00:00:50,400 Speaker 4: by about two point two percent. We did see a 16 00:00:50,440 --> 00:00:54,280 Speaker 4: rebound in oil. We are watching the geopolitical environment Tech 17 00:00:54,360 --> 00:00:56,680 Speaker 4: having a terrible day, off by about two percent as 18 00:00:56,720 --> 00:00:57,120 Speaker 4: a sector. 19 00:00:57,280 --> 00:00:59,240 Speaker 1: Well. Speaking of tech, a lot of focus on the 20 00:00:59,280 --> 00:01:02,920 Speaker 1: AI trade and one of the biggest memoryship makers out there, Micron, 21 00:01:03,000 --> 00:01:05,840 Speaker 1: reporting earnings right now. The shares the knee jerk reaction 22 00:01:06,160 --> 00:01:08,880 Speaker 1: to the upside here, as the company said, EPs came 23 00:01:08,920 --> 00:01:11,240 Speaker 1: in at four dollars and seventy eight cents. That's a 24 00:01:11,280 --> 00:01:13,520 Speaker 1: big beat. The street was looking on average for three 25 00:01:13,560 --> 00:01:16,080 Speaker 1: dollars and ninety five revenue in the quarter on an 26 00:01:16,120 --> 00:01:19,160 Speaker 1: adjusted basis thirteen point sixty four billion. The street was 27 00:01:19,160 --> 00:01:22,199 Speaker 1: looking for roughly about thirteen billion. Even so, a beat 28 00:01:22,280 --> 00:01:25,040 Speaker 1: on that. Operating income a beat as well, cash flow 29 00:01:25,040 --> 00:01:28,280 Speaker 1: from operations a massive beat eight point four billion dollars 30 00:01:28,280 --> 00:01:30,480 Speaker 1: the street was looking for six billion. And the guidance 31 00:01:30,560 --> 00:01:33,520 Speaker 1: going forward, the company says that for the current fiscal quarter, 32 00:01:33,680 --> 00:01:36,880 Speaker 1: the second quarter adjusted revenue eighteen point three to nineteen 33 00:01:36,920 --> 00:01:40,520 Speaker 1: point one billion dollars. The street was looking for fourteen 34 00:01:40,840 --> 00:01:41,720 Speaker 1: billion dollars. 35 00:01:41,800 --> 00:01:43,600 Speaker 3: All right, So this is an important one. I mean, 36 00:01:43,600 --> 00:01:45,520 Speaker 3: this stacks up one hundred and sixty nine percent year 37 00:01:45,560 --> 00:01:47,440 Speaker 3: to date. It's down about fourteen percent from an all 38 00:01:47,480 --> 00:01:50,120 Speaker 3: time high back on December tenth, But this is an 39 00:01:50,160 --> 00:01:53,920 Speaker 3: important indicator. This is a dynamic random access memory company. 40 00:01:53,960 --> 00:01:56,559 Speaker 3: But it's also going to give us some indications into 41 00:01:56,960 --> 00:02:01,360 Speaker 3: also the AI trade that we've all been seeing under 42 00:02:01,360 --> 00:02:02,480 Speaker 3: pressure as of late. 43 00:02:02,560 --> 00:02:03,919 Speaker 5: So maybe some confirmation. 44 00:02:04,400 --> 00:02:06,440 Speaker 3: Keep in mind this plays into a lot of different markets, 45 00:02:06,440 --> 00:02:08,800 Speaker 3: but it also plays into the market for AI servers. 46 00:02:08,840 --> 00:02:11,120 Speaker 3: So to see that upbeat, we want to know the 47 00:02:11,120 --> 00:02:13,880 Speaker 3: breakdown in terms of its markets to get an idea 48 00:02:14,000 --> 00:02:14,680 Speaker 3: of what it says. 49 00:02:14,840 --> 00:02:16,000 Speaker 5: Again on the AI, I. 50 00:02:16,000 --> 00:02:17,960 Speaker 1: Just want to put out too, some more headlines coming out. 51 00:02:18,040 --> 00:02:21,079 Speaker 1: Okayl the ADJUSTEDVPS figure that they're giving the guidance for 52 00:02:21,120 --> 00:02:24,320 Speaker 1: the current quarter basically eight dollars and sixty two cents 53 00:02:24,360 --> 00:02:25,919 Speaker 1: at the top end. The street was nunber for four 54 00:02:25,919 --> 00:02:28,720 Speaker 1: to seventy one. So you're talking about basically estimates coming 55 00:02:28,760 --> 00:02:30,639 Speaker 1: in and almost double what the street is looking for. 56 00:02:30,800 --> 00:02:33,320 Speaker 1: It's also saying that it's gross margin is going to 57 00:02:33,320 --> 00:02:35,560 Speaker 1: expand to sixty seven to sixty nine percent. That gross 58 00:02:35,560 --> 00:02:38,240 Speaker 1: margin right now tracking less than sixty but right now 59 00:02:38,280 --> 00:02:39,120 Speaker 1: in the mid fifties. 60 00:02:39,280 --> 00:02:42,360 Speaker 6: Yeah, what a world. I mean, margin's in the sixty 61 00:02:42,600 --> 00:02:44,360 Speaker 6: high sixty percentage range. 62 00:02:44,480 --> 00:02:44,600 Speaker 2: Hey. 63 00:02:44,919 --> 00:02:48,400 Speaker 6: Sanja Mirotra, the chairman, president CEO of Micron Technology out 64 00:02:48,440 --> 00:02:50,480 Speaker 6: in a statement where we're getting a little more color 65 00:02:50,880 --> 00:02:54,480 Speaker 6: on how the company is thinking and positioning itself right now. 66 00:02:55,080 --> 00:02:58,840 Speaker 6: He said that Micron's technology leadership, differentiated product portfolio and 67 00:02:58,880 --> 00:03:03,480 Speaker 6: strong operational act cution position Micron as an essential AI enabler. 68 00:03:03,840 --> 00:03:06,320 Speaker 6: He said, quote, we are investing to support our customer's 69 00:03:06,360 --> 00:03:08,400 Speaker 6: growing need for memory and storage. 70 00:03:08,480 --> 00:03:10,880 Speaker 4: I do want to go back to those forecasts. That 71 00:03:11,080 --> 00:03:13,600 Speaker 4: is the red headline across the terminal right now. Second 72 00:03:13,680 --> 00:03:17,440 Speaker 4: quarter justed revenue coming in at eighteen point three billion 73 00:03:17,480 --> 00:03:20,280 Speaker 4: to nineteen point one billion, that's the guidance there. The 74 00:03:20,360 --> 00:03:23,240 Speaker 4: estimate had been for fourteen point three eight billion dollars, 75 00:03:23,280 --> 00:03:26,600 Speaker 4: as Romaine said, adjusted EPs. That second quarter estimate also 76 00:03:26,720 --> 00:03:29,799 Speaker 4: much higher than expectations. We were actually having a conversation 77 00:03:30,120 --> 00:03:32,680 Speaker 4: with Matt Bryson over at Webbush and he said that, 78 00:03:32,960 --> 00:03:35,320 Speaker 4: you know, built into some of his forecasts was the 79 00:03:35,400 --> 00:03:39,120 Speaker 4: expectation that management was going to be a little bit 80 00:03:39,160 --> 00:03:41,800 Speaker 4: conservative with their guide. But taking a look at some 81 00:03:41,880 --> 00:03:45,920 Speaker 4: of these numbers, so exceeding these forecasts, not seeing that 82 00:03:46,080 --> 00:03:48,000 Speaker 4: conservativeness come through necessarily. 83 00:03:48,120 --> 00:03:50,280 Speaker 3: Yeah, And just like the headline on the press release, 84 00:03:50,440 --> 00:03:55,000 Speaker 3: AI demand acceleration along with other things. But they talk 85 00:03:55,040 --> 00:03:58,120 Speaker 3: about it, you know, driving record fiscal first quarter results, 86 00:03:58,120 --> 00:04:01,440 Speaker 3: including highest ever free cash flow. Again, shares a Micron 87 00:04:01,520 --> 00:04:04,440 Speaker 3: bouncing around, but mostly higher. The stock right now up 88 00:04:04,480 --> 00:04:06,640 Speaker 3: about four and a half percent here in the aftermarket. 89 00:04:06,720 --> 00:04:08,600 Speaker 1: Look, and we were talking and you mentioned the fact 90 00:04:08,600 --> 00:04:10,240 Speaker 1: that you know, this is a stock that basically is 91 00:04:10,280 --> 00:04:13,120 Speaker 1: almost tripled on a here to date basis, could potentially tripled. 92 00:04:13,160 --> 00:04:14,760 Speaker 1: But I was looking at some of the biggest winners 93 00:04:14,760 --> 00:04:16,120 Speaker 1: on a year to date basis in the S and 94 00:04:16,120 --> 00:04:18,040 Speaker 1: P five hundred. If you had ran this chart the 95 00:04:18,120 --> 00:04:20,360 Speaker 1: function on your terminal a few months ago, all the 96 00:04:20,440 --> 00:04:23,159 Speaker 1: names would have been the bigger chip makers in videos, 97 00:04:23,200 --> 00:04:25,360 Speaker 1: the broadcoms of the world at the top of that list. 98 00:04:25,360 --> 00:04:27,360 Speaker 1: Now it's a sand Disc, it's a Western Digital, it's 99 00:04:27,360 --> 00:04:30,440 Speaker 1: a Seagate, it's a Micron. Basically, four of the top 100 00:04:30,480 --> 00:04:32,440 Speaker 1: five names in the S and P five here a 101 00:04:32,520 --> 00:04:36,120 Speaker 1: date basis are memory makers, Carol. 102 00:04:35,880 --> 00:04:38,120 Speaker 5: Masser, which is fascinating, right. 103 00:04:38,080 --> 00:04:39,800 Speaker 1: Yeah, Well, you know all that data has got to 104 00:04:39,839 --> 00:04:41,440 Speaker 1: be memorized somewhere. 105 00:04:41,240 --> 00:04:44,880 Speaker 3: Right, yeah, exactly. All right, you don't want to forget it, Yeah, no, exactly. 106 00:04:44,920 --> 00:04:47,040 Speaker 3: I want chuccipt to remember everything about it. 107 00:04:47,080 --> 00:04:48,680 Speaker 1: And someone that saw one of those Micron chips in 108 00:04:48,720 --> 00:04:50,080 Speaker 1: my brain, that's when I forget a lot. 109 00:04:50,200 --> 00:04:51,960 Speaker 3: Sorry, all right, we're going to watch you some more 110 00:04:51,960 --> 00:04:54,040 Speaker 3: headlines than Micron. Right now, it's up more than six 111 00:04:54,120 --> 00:04:55,840 Speaker 3: percent here in the aftermarket. Let me go to some 112 00:04:55,880 --> 00:04:58,400 Speaker 3: of the gainers in today's session. Got to talk about 113 00:04:58,839 --> 00:05:01,560 Speaker 3: an IPO today. It's been a pretty good year. 114 00:05:01,400 --> 00:05:03,960 Speaker 5: For IPOs in twenty twenty five. 115 00:05:04,440 --> 00:05:09,000 Speaker 3: Medline maker and distributor of medical supplies, gloves, gowns, exam tables, 116 00:05:09,000 --> 00:05:11,440 Speaker 3: all those things we love that are used by hospitals 117 00:05:11,480 --> 00:05:15,320 Speaker 3: and doctors. Making its public day, but today over subscribed, 118 00:05:15,440 --> 00:05:19,520 Speaker 3: raising six and a quarter billion, year's biggest initial public offer. 119 00:05:19,600 --> 00:05:22,640 Speaker 3: You can see that stock finishing the day up forty 120 00:05:22,720 --> 00:05:26,360 Speaker 3: one percent. So many would say interest certainly among investors, 121 00:05:26,360 --> 00:05:27,600 Speaker 3: and maybe priced really well. 122 00:05:28,160 --> 00:05:29,400 Speaker 1: We have one of their gowns at home. 123 00:05:29,440 --> 00:05:31,120 Speaker 5: By the way, do you like to wear those gowns? 124 00:05:31,360 --> 00:05:31,480 Speaker 6: Well? 125 00:05:31,600 --> 00:05:33,920 Speaker 1: I was very comfortable and we asked the hospital can 126 00:05:33,960 --> 00:05:34,840 Speaker 1: we take it? And they're like sure. 127 00:05:35,040 --> 00:05:37,240 Speaker 5: They are kind of comfy, aren't they all right? 128 00:05:37,279 --> 00:05:39,560 Speaker 3: Good to know about now, very stylish, but trying to 129 00:05:39,560 --> 00:05:41,159 Speaker 3: get my head around you wearing them at home? 130 00:05:41,320 --> 00:05:43,160 Speaker 6: I think they make the classic swad and I wear 131 00:05:43,160 --> 00:05:45,359 Speaker 6: the little booty socks, you know, with the with the 132 00:05:45,360 --> 00:05:47,920 Speaker 6: little little skid things on sl You. 133 00:05:47,880 --> 00:05:50,440 Speaker 5: Know who doesn't love those? Right? You don't fall down 134 00:05:50,440 --> 00:05:51,760 Speaker 5: the stairs, you don't slide on the floor. 135 00:05:51,760 --> 00:05:54,919 Speaker 3: All right, let's go to another gator, Texas Specific Land Corp. 136 00:05:55,520 --> 00:05:58,120 Speaker 3: TPL is the ticker, this one, finishing the day up 137 00:05:58,120 --> 00:06:01,599 Speaker 3: about seven point six percent. Company now strategic agreement with 138 00:06:01,680 --> 00:06:05,040 Speaker 3: Bolt Data and Energy. They're going to develop large scale 139 00:06:05,120 --> 00:06:09,359 Speaker 3: data center campuses across tpl's West Texas landholdings, with TPL 140 00:06:09,400 --> 00:06:11,599 Speaker 3: investing fifty million in both as part of the deal. 141 00:06:11,680 --> 00:06:14,120 Speaker 3: So we saw some momentum there and then you to 142 00:06:14,160 --> 00:06:17,000 Speaker 3: me check this out. Guys up more than thirty three 143 00:06:17,000 --> 00:06:19,599 Speaker 3: percent at its highes today intra day, finishing with about 144 00:06:19,640 --> 00:06:22,720 Speaker 3: a thirteen percent gain here at the close on a 145 00:06:22,800 --> 00:06:26,719 Speaker 3: deal with Peer Corsera to merge the two companies in 146 00:06:26,760 --> 00:06:29,960 Speaker 3: an all stock transaction, like a mind entity with an 147 00:06:29,960 --> 00:06:33,040 Speaker 3: implied equity value of about two and a half billion dollars. 148 00:06:33,080 --> 00:06:36,400 Speaker 5: So you to me, definitely an outperformer. 149 00:06:36,520 --> 00:06:38,919 Speaker 1: All right, session, you got the opportation to say. 150 00:06:38,720 --> 00:06:39,040 Speaker 3: You to me? 151 00:06:39,200 --> 00:06:40,800 Speaker 1: Do you like to say you to me? You to me? 152 00:06:41,040 --> 00:06:42,599 Speaker 5: I like you to me? You to me. 153 00:06:43,120 --> 00:06:45,360 Speaker 3: It's like my jersey comes out, Katie, your jersey comes 154 00:06:45,400 --> 00:06:46,120 Speaker 3: out exactly. 155 00:06:46,400 --> 00:06:49,680 Speaker 6: You run me. Let's talk about some of the decliners today. 156 00:06:50,040 --> 00:06:52,719 Speaker 6: Stocks in the red include in Vidio down three point 157 00:06:52,800 --> 00:06:55,159 Speaker 6: eight percent. This was the biggest decliner on a points 158 00:06:55,200 --> 00:06:57,520 Speaker 6: basis in the S and P five hundred, responsible for 159 00:06:57,960 --> 00:07:01,120 Speaker 6: nineteen points to the downside in the P five hundred today. 160 00:07:01,120 --> 00:07:04,360 Speaker 6: That tech route hitting stocks amid skepticism about the AI 161 00:07:04,400 --> 00:07:08,080 Speaker 6: trade in video, leading megacap stocks lower today. Broadcom also 162 00:07:08,120 --> 00:07:10,400 Speaker 6: fell by four and a half percent, Tesla down by 163 00:07:10,440 --> 00:07:14,160 Speaker 6: four point six percent, in Vidia down close to seventeen 164 00:07:14,200 --> 00:07:16,800 Speaker 6: percent from that October all time high, so quite a 165 00:07:16,800 --> 00:07:20,320 Speaker 6: decline in a short time. Shares Oracle also taking a 166 00:07:20,440 --> 00:07:23,119 Speaker 6: hit today speaking of the AI trade, down five point 167 00:07:23,200 --> 00:07:26,400 Speaker 6: four percent on the day. This after it was confirmed 168 00:07:26,440 --> 00:07:29,080 Speaker 6: that Blueell Capital is not contributing equity to a data 169 00:07:29,080 --> 00:07:33,120 Speaker 6: center project in Michigan. That project progressing with Blackstone in 170 00:07:33,200 --> 00:07:35,800 Speaker 6: talks to provide equity capital and Bank of America leading 171 00:07:35,840 --> 00:07:39,680 Speaker 6: a debt deal to help finance the project. Also watching 172 00:07:40,040 --> 00:07:42,920 Speaker 6: the cost of protecting Oracle's debt against default that was 173 00:07:42,960 --> 00:07:45,440 Speaker 6: on track earlier to reach its highest closing level going 174 00:07:45,480 --> 00:07:48,840 Speaker 6: back to two thousand and nine. And finally, ge Veranova 175 00:07:49,000 --> 00:07:52,240 Speaker 6: shares taking a hit. Weakness in AI related stocks certainly 176 00:07:52,280 --> 00:07:55,040 Speaker 6: on my radar today. Givernova down ten and a half 177 00:07:55,040 --> 00:07:59,560 Speaker 6: percent today. The concern was that the weakness in ai 178 00:07:59,560 --> 00:08:01,920 Speaker 6: Link stock spread to companies that are expected to benefit 179 00:08:01,960 --> 00:08:05,440 Speaker 6: from electricity demand. So jee Vernova fell along with Caterpillar. 180 00:08:06,280 --> 00:08:09,280 Speaker 6: Makers of data center products and power equipment also fell, 181 00:08:09,520 --> 00:08:11,920 Speaker 6: and those companies too involved in building power and data 182 00:08:11,920 --> 00:08:13,880 Speaker 6: center infrastructure also taking a hit today. 183 00:08:14,040 --> 00:08:15,840 Speaker 1: All right, take a look at yield to mix date 184 00:08:15,880 --> 00:08:17,800 Speaker 1: there here. You had some comments earlier in the day 185 00:08:17,800 --> 00:08:20,280 Speaker 1: by Christopher Waller that did move the market, But some 186 00:08:20,360 --> 00:08:22,640 Speaker 1: of those moves really kind of reversed, or at least 187 00:08:22,680 --> 00:08:25,240 Speaker 1: settled down just a little bit, slightly lower on the 188 00:08:25,280 --> 00:08:27,240 Speaker 1: longer end of the curve and slightly high or on 189 00:08:27,320 --> 00:08:29,160 Speaker 1: the shorter end of the curve, excuse me, and slightly 190 00:08:29,240 --> 00:08:30,760 Speaker 1: higher on the long end of the curve. The net 191 00:08:30,800 --> 00:08:33,160 Speaker 1: effect of it all is basically where we've been now 192 00:08:33,240 --> 00:08:34,520 Speaker 1: for the last couple of sessions. 193 00:08:35,960 --> 00:08:40,000 Speaker 2: This stock Mover's report from Bloomberg Radio. Check back with 194 00:08:40,080 --> 00:08:42,640 Speaker 2: us throughout the day for the latest roundup of companies 195 00:08:42,720 --> 00:08:45,800 Speaker 2: making news on Wall Street and for the latest market 196 00:08:45,840 --> 00:08:50,280 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 197 00:08:50,400 --> 00:08:53,880 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 198 00:08:53,960 --> 00:08:55,480 Speaker 2: the Bloomberg Business app.