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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Tim Stanebeck along with Carol Masser. Let's take a look at some stocks on the move today. We're joined by Bloomberg News earning specialists Rachel Whoa she joins us here in the studio, A and D a late mover after hours.
Yeah, I think no one expected it, especially with Nvidio kind of taking the spotlight earlier today. An AMD, you know, clearly one of Nvidia's biggest A chips rivals. So I think that the kind of the stock move kind of came after the company says it expects annual revenue growth to be more than thirty five percent on average over
the next three to five years. It's CEO Lisas who was like speaking at a company event today, And I think the numbers likely appe these fears that there's been a lot of hype and froth over AI right now, and you know, all the huge vending on new AI computing systems can be sustained. But I guess those numbers, you know, are making investors kind of happy.
Yeah, we definitely are seeing a movement of appum as four percent here and I think some of the overall data growth and you know, it just seems like that AI trade like giving some support in a big way. Fed x fd X is the ticker. What'd you find out there? What did we see today?
Yeah?
So it's CFO was also speaking today and he said that now it expects profits this quarter to improve from a year ago. I think this kind of contrasting what investors initially expected that it would be slightly worse than last year. You know, they were concerned about we holiday season, that tot taiffs would affect costs. And then also the company will have to ground about four percent of its
fleet after the fatal ups crash last week. So clearly the comments today are relieved to investors as well.
All right, Well back to AI a little bit. In core Weave some big moves from Corewave today.
Yeah, so you know, it looks like it tumbled today after it cut its annual sales forecast. I think this kind of came after the company said that data centered delay will hurt its fourth quarter results. You know, and a company has been racing to expand its data centered network. But I think this is a setback that kind of
shows the growing pains of scaling fast. With CEO also, you know on Bloomberg TV earlier today, and you know, he said that now it's trying to work to diversify its suppliers to avoid kind of similar issues down the road. And you know, we've seen the results that despite the delay, you know, it's revenue backlog has nearly doubled from a year ago, which you know, I think some investors are he is assigned that demand for AI computing power remains strong.
Well.
Listen, we talked with our Man Deep saying about this and Caroline Hide b Tech on BTV who had she along with that Leedler spoke to the core Weave CEO, but Man Deep saying specifically, right, the backlog is there these companies that need the services of core Weave. I mean they make these commitments, right, these contracts that they need access in order for all the compute if you will, that's required by a AI, and so the demand continues to be there.
Yeah, I mean I just wonder, and this is a question that we can talk about with Manteep of Blueberg Intelligence. Man deep sing But what are the other companies that could spring up, not in Corey's place, but could supplement what Core We've offers. Went through a few of them today. If Core We've does face these challenges. Yeah, and all these companies are facing the challenges well. And we've gone.
From the hyperscalers right, and then you've got the neo This are the traditional clouds, the big guys, the neo cloud and it just keeps kind of broadening out, but the demand continues to accelerate.
We time for one more hopefully sure, Okay, I mean this is something close I guess close to home geographic y. This is like a you know as a Solva's Asian tech company that space in Singapore. It's known for its gaming company. It's it's a digital finance but all ice
this quarter one shopping platforms Shoppy. A lot of people in the region are kind of still buying things on the apps, you know, but Shoppy is facing more and more competition from TikTok Shop, Ali Baba's Lozada PDDs team and you know, everyone's trying to get customers through you know, promotions and discounts, cheap deliveries. So this has eaten into profits and sees shares were down I Know after its earnings missed estimates.
This stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.