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This Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis. One stock making a move this morning, Dan is At and T saw a headline about them making a big investment in the US.
Good morning, Good morning, Nathan. That's right. AT and T ticker T is down about three tens of a percent in the pre market right now. That's as the company announced it will spend over two hundred and fifty billion dollars in the next five years to build out US connectivity. That money we spent on accelerating deployment of five or five G home internet, wireless and satellite communications. It also
said it's hiring thousands of technicians this year alone. There is a winner from this deal, stock Ast Space Mobile ticker ASTs is up. That's because as part of this collect oberation, AT and T will use a s T Space mobile and it's and it's already established partnership to extend coverage in remote areas.
All right, Well, that's interesting. Note there another stock making move after earnings, HP Enterprise.
That's right, HPE. Uh. Those shares are up nearly two percent in pre market. That's after fiscal first quarter earnings beat despite a slight sales miss. Sales estimates for both the current quarter and the rest of the fiscal year were stronger than Wall Street had expected. HPE is getting a boost from demand for its networking products that's driven by the AI demand boom. The company has been navigating
memory chip shortage. This is a big theme in markets right now, so HP says it's raised prices between when it provides quotes and ships products, and the CEO said in an interview it's not done raising prices yet as the company sees the memory chip shortage extending into next year.
Well, speaking of memory chips, we also heard from Taiwan Semiconductor.
How's that stuck doing?
Yeah, the ADRs are down, are up about seven tenths of a percent under tick our TSM in the pre market. The company came out with combined January and February sales growth of about thirty percent. February was softer of the two, with the growth effect by lunar new year's just kind of a calendar adjustment. Estimates for the total quarter is about thirty three percent growth, so that's about on track.
Those shares have been coming in. This is a sign of continued AI spending and the results are of course for the period right before the irm strike. So there is a question mark that remains how geopolitical turbulence is going to affect the AI sphere.
And we're still waiting for one of the big earning stories of the week that's coming after the close from Oracle.
That's right, fiscal third quarter earnings out after the close today. T ORCL is up about one point seven percent in pre market Right now. Wall Street really watching the cloud infrastructure sales. Those are estimated to be four point seven billion dollars, nearly eighty percent higher than the previous quarter. That is a measure of how they can convert cloud bookings customers like open Ai into revenue. Also closely watch any guidance on capex. Last month, Oracle said it would
raised up to fifty billion dollars. That's spend up to fifty billion dollars this year. CAPEX for the quarter is es maybe fourteen billion dollars. That is about eighty percent of the es made revenue overall, a cash outflow of seven billion dollars as it really spends big on the AI trade.
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.