1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,480 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:16,200 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,319 Speaker 2: Let's take a look now at some stocks on the move. 5 00:00:18,640 --> 00:00:22,480 Speaker 2: I'm Karen Moscow. We're joined by Bloomberg's Dan Curtis. Dan. 6 00:00:22,640 --> 00:00:25,880 Speaker 2: Good morning. Let's start off with FedEx because it appears 7 00:00:25,920 --> 00:00:28,080 Speaker 2: to be weathering the war in the Middle East. 8 00:00:28,760 --> 00:00:32,199 Speaker 3: Good morning, Karen. FedEx shares are up nine percent in 9 00:00:32,240 --> 00:00:35,400 Speaker 3: the pre market underticker FDx as the shipping and logistics 10 00:00:35,400 --> 00:00:38,720 Speaker 3: company raises its full year earnings forecast, saying there's a 11 00:00:38,720 --> 00:00:42,199 Speaker 3: potential for that to top over twenty dollars a share. 12 00:00:42,520 --> 00:00:45,480 Speaker 3: It had previously seen that measure topping out nineteen dollars 13 00:00:45,479 --> 00:00:49,400 Speaker 3: a share, so that bringing the bulls into the pre market. 14 00:00:49,680 --> 00:00:52,559 Speaker 3: As you mentioned, it's a signal that the company is 15 00:00:52,560 --> 00:00:55,800 Speaker 3: with standing economic turmoil in the Middle East. FedEx says 16 00:00:55,800 --> 00:00:58,560 Speaker 3: it does not expect a direct material effect, but says 17 00:00:58,640 --> 00:01:01,760 Speaker 3: higher energy and voltel shipping patterns are adversely affecting the 18 00:01:02,080 --> 00:01:06,240 Speaker 3: global economy. For the fiscal third quarter, revenue and earnings 19 00:01:06,280 --> 00:01:08,559 Speaker 3: both did come out with a beat. That's a sign. 20 00:01:09,080 --> 00:01:12,640 Speaker 3: That's a sign that its overhaul of combining express air 21 00:01:12,680 --> 00:01:15,560 Speaker 3: freight and Grand Delivery networks is powering ahead. 22 00:01:16,080 --> 00:01:19,080 Speaker 2: Well, you're also watching super Micro. What's going on there? 23 00:01:20,040 --> 00:01:24,360 Speaker 3: Super Micro ticker SMCI. Those shares are down twenty five 24 00:01:24,600 --> 00:01:27,720 Speaker 3: percent in the pre market. The US has charged co 25 00:01:27,800 --> 00:01:32,240 Speaker 3: founder Wally Leoo with illegally diverting billions of dollars of 26 00:01:32,319 --> 00:01:36,720 Speaker 3: Nvidia powered servers to China. The accusation is that the founder, 27 00:01:36,800 --> 00:01:39,560 Speaker 3: alongside a manager and a contractor, sold the tech through 28 00:01:39,600 --> 00:01:43,120 Speaker 3: a Southeast Asia company, knowing it would be sent to China. 29 00:01:43,480 --> 00:01:46,479 Speaker 3: Leo's lawyers didn't immediately respond to a request for comment. 30 00:01:47,280 --> 00:01:50,040 Speaker 3: Super Micro issued a statement that it put Leoo and 31 00:01:50,080 --> 00:01:53,200 Speaker 3: the manager on administrative leave and ended its relationship with 32 00:01:53,240 --> 00:01:57,160 Speaker 3: a contractor. The company noted its cooperating with government's investigation. 33 00:01:57,640 --> 00:02:00,480 Speaker 3: This is the highest profile case yet since the US 34 00:02:00,480 --> 00:02:04,560 Speaker 3: restricted AI technology to China. Those shares again down twenty 35 00:02:04,800 --> 00:02:06,760 Speaker 3: five percent in pre market. Big hit. 36 00:02:07,280 --> 00:02:11,600 Speaker 2: Well, could you and Deliver be parting ways with Hellman's Mayonnaise? Uh? 37 00:02:11,639 --> 00:02:15,480 Speaker 3: Oh, it might be. It's a potentially spicy deal. So 38 00:02:15,760 --> 00:02:18,360 Speaker 3: shares of Uni lever the ADRs are up about half 39 00:02:18,360 --> 00:02:21,519 Speaker 3: a percent and that's as Union Lever is in talks 40 00:02:21,520 --> 00:02:24,000 Speaker 3: to sell its food business to the spice and seasoning 41 00:02:24,080 --> 00:02:27,840 Speaker 3: company McCormick. Union Lever said it was in talks, but 42 00:02:27,919 --> 00:02:30,320 Speaker 3: there is no certainty that a deal would be achieved. 43 00:02:30,680 --> 00:02:33,720 Speaker 3: Its two strongest brands, as you mentioned, are Hellman's Mayonnaise 44 00:02:33,760 --> 00:02:36,520 Speaker 3: and then also I learned this one nor Stock Cubes. 45 00:02:37,000 --> 00:02:40,280 Speaker 3: Gay Weaver has been divesting food assets over the past decade, 46 00:02:40,320 --> 00:02:42,799 Speaker 3: including selling off its spread business, which was I can't 47 00:02:42,800 --> 00:02:45,600 Speaker 3: believe it's not butter, and recently spinning off the Magnum 48 00:02:45,600 --> 00:02:46,440 Speaker 3: ice cream brand. 49 00:02:46,800 --> 00:02:49,519 Speaker 2: All right, and you're also watching Gemini space station. What's 50 00:02:49,520 --> 00:02:50,120 Speaker 2: happening here? 51 00:02:50,720 --> 00:02:53,640 Speaker 3: So this is the crypto exchange owned by the Winklevoss 52 00:02:53,720 --> 00:02:57,359 Speaker 3: for Winklevi Twins. It said it is reducing its workforce 53 00:02:57,400 --> 00:03:00,760 Speaker 3: by about thirty percent. It has reduced its by about 54 00:03:00,800 --> 00:03:03,440 Speaker 3: thirty percent since the start of the year. Those shares 55 00:03:03,440 --> 00:03:06,359 Speaker 3: are up about five percent in the pre market. This 56 00:03:06,400 --> 00:03:08,880 Speaker 3: comes as the company reported one hundred and forty million 57 00:03:08,919 --> 00:03:11,400 Speaker 3: dollar loss in the fourth quarter and over five hundred 58 00:03:11,400 --> 00:03:14,200 Speaker 3: million dollar loss for the full year. Revenue for the 59 00:03:14,240 --> 00:03:17,679 Speaker 3: fourth quarter, however, did come in above estimates. Gemini is 60 00:03:17,720 --> 00:03:20,200 Speaker 3: a relatively small crypto exchange with the market share of 61 00:03:20,280 --> 00:03:24,079 Speaker 3: under one percent globally per research Kaiko. So these these 62 00:03:24,200 --> 00:03:27,560 Speaker 3: job cuts are coming as Gemini turns towards AI tools 63 00:03:27,560 --> 00:03:29,000 Speaker 3: to increase product antibute. 64 00:03:29,639 --> 00:03:33,640 Speaker 1: This stock mover's report from Bloomberg Radio. Check back with 65 00:03:33,720 --> 00:03:36,280 Speaker 1: us throughout the day for the latest roundup of companies 66 00:03:36,360 --> 00:03:39,480 Speaker 1: making news on Wall Street and for the latest market 67 00:03:39,520 --> 00:03:44,000 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 68 00:03:44,080 --> 00:03:47,560 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 69 00:03:47,640 --> 00:03:49,120 Speaker 1: the Bloomberg Business app.