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The 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. Continuing to wind down earning season, we've got some pretty big names reporting their results at this late stage, including Capri Holdings. Still some story to be told in the luxury space. Good morning Dan, Good morning Nathan.
That's right, the company behind Michael Cores and Jimmy cho that is Capri Holdings. Those shares are up about three percent in the pre market under ticker CPRII. The company's fourth quarter revenue came in at seven hundred and ninety six million dollars. That was about in line with estimates. However, earnings came in at twenty two cents per share on an adjusted level, twice what the Wall Street was expecting. Company also said that sees twenty twenty seven first quarter
EPs of forty cents, also above estimates. So we're getting a bottom line b out of that company. That's bring those shares higher all right.
Now, we got some word that Appage is getting a big cash in fusion, but investors don't look like they're taking too kindly to this one.
Dan, It's a double dose of news for this biotech company. And that's right. Appage ticker APGE is now down eighteen percent in pre market. We saw it up double digits before this. So we've had two pieces of news. So we first have had news that Blackstone was providing up to one point three billion dollars in financing. The money will be used to help advance the skin drug to treat multiple inflammatory diseases and a this is a drug that app he's looking out to twenty twenty nine for
that pushed the shares up. However, since then, we've gotten results from a clinical study not full stage from phase two studies, but that has the shares down. This is for the results from an apex try in moderate to treat moderate to severe atopic dermatitis. The results from that do not seem to be pleasing the market this morning.
Yeah, in a big way. With that eighteen percent drop that you mentioned, and even bigger drop this morning for z scaler. This is back to the earning story, right.
Yeah, back to the earning story and down twenty three percent in the pre market under ticker zs Z. Scaler is a cloud based cybersecurity company and its fiscal fourth quarter revenue estimate was weaker than expected, so that has the shares down despite the company beating third quarter top and bottom line and estimates and increasing Foliar guidance. So
that's pointing towards weakness in the current period. The preliminary annual recurring revenue for the next fiscal year of about sixteen percent is indicating a slowdown and Bloomberg intelligences that suggests muted new customer additions. So long term, there is concern about that top line growth in the future with potentially fewer new customers coming into the company.
All right, in the time we have left, let's move back to the greens side of the screen. We've got a new trillion dollar market cap company out there in Micron dan.
Tick our Mu. It is up six percent in the pre market on top of what on top of yesterday's game, which push over that one trillion dollar market cap. As you said, it's a memory company. This space has been taking off overnight. We saw a competitor sk Heinex in Korea, also topping one trillion dollars in market cap. Micron's move comes off the back of UBS raising its price target to about twice the stock price and applying shares could double.
It's bullish on the AI investment, saying that this this breaks the traditional cycle goal pattern in memory companies now seeing large back orders, which means demand could be out kind of well beyond the typical waves of demand and softness that these companies see. UBS's price target sixteen twenty five is the street high, nearly five hundred dollars a share higher than the second highest price target. All these provide strong catalysts big momentum trade in pre market today.
This stockmover's 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.