Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data, stock Movers, Alphabet in the Dow. I mean that sort of gets my attention. But what do you have today?
Yeah, that's going to happen on Monday. It's going to replace Horizon, But it's not one of the stocks I'm watching today, guys. I'm going to start with Cerebras, which is down about nine percent. Remember this company went public justin May, so it's her first profit report since going public. A ticker symbol here CBRS. By the way, it raised five and a half billion in May, part of the biggest IPO in chip industry history. Shares though we're plunging here.
The company gave an annual sales forecast that disappointed investors, and the CEO said on the earnings call that the biggest challenge for Cerebras right now is getting enough data center space. It's sort of in a with other companies like Nvidia to capture these data centers to move AI forward. And the fluctuations in the share price really reflect the swings I think in sentiment over the AI boom. If
you look at where it's come from. It debuted at one hundred and eighty five dollars in May, closed as high as three hundred eleven dollars. It's up twenty three percent since going public, and here we have the stock down about ten percent today. So you know, it's also I think gotten wrapped up in the big you know chip wreck that we saw the past ye day. That's read heard that. Yeah, let's move on to FedEx ticker symbol their fd X. It is down more than six percent.
So profit beat after the closing bell yesterday, but it is Wall Street's getting caught up in what it had to say about costs, so it said it's trying to navigate these trade policies at the grounding of its MD eleven cargo jet fleet. They're calling it significant headwinds to operations. So on the conference call, the CEO said profit margin for the past quarter declined to eight point four percent, that was below analysts expectations. Also that the stock has
had a pretty nice run up. It's up thirty six percent so far this year. It has beaten the past few quarters, so you know, it didn't live up to those higher expectations. That is a dumb question.
If you're not in the semis, have you participated in the bull market this year?
Not merely as much. That's probably it's like the semis, yes, the store, yeah, yeah. The breath of this of this rally is a pretty narrow. So let's move on to Hurts. Htz took a simple there, absolutely getting slammed here in the pre market is down twenty one percent, so the car rental company saying it realized losses on the sale
of vehicles in May compared with April. Hurts executive saying that in early May the expected depreciation per unit or per vehicle would be well below three hundred dollars a month. They expected to make gains on the sale of vehicles in the second quarter. That has not been the case, so they are struggling versus struggling amid this used broad market.
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