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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 Valerie Titel on a morning when the broader market might be looking for catalysts, but Intel seems to keep finding catalysts.
Good morning, Valerie, Hey, Good morning Nathan. Yes, Intel is up for a second session in a row off the back of Bloomberg reporting that it has approached Apple about securing an investment. Yesterday, it rose six point four percent on this report. It's continuing the games this morning, up nearly three and a half percent so far in pre market trade. Sources have told Bloomberg that the two companies
have discussed working more closely together. Now this comes in the context of the fact that Apple used to use Intel chips in its devices. Is that was something that they began phasing out twenty twenty and completed in twenty twenty three. Now, while the market and investors remained skeptical that Apple could once use Intel chips again in its devices, there still is treated very positive by the market that these two companies are talking about a potential tie up, and even.
Bigger gain this morning than in fact, the biggest gainer right now in the pre market Cipher Mining. What's going on there?
Cifer Mining. Okay, this stock is jumping on the back of a Google investment, but it's a bit complicated. Let me take you through it. Cipher Mining up twelve percent. It's a bitcoin miner that is also active in the data center space for AI. They signed an AI hosting pack with fluid Stack, which is an AI infrastructure platform, and Google has agreed to backstop fluid stacks obligations in the deal and will also take a five percent stake in the company. So, so you got cipher Mining in
the green this morning. It was up as much as twenty two percent this announcement. Google, on the other hand, is trading softly, down nearly one percent.
And I see you've got Oracle back on your radar this morning. It's been going into the debt market. How our investors taken that?
Yeah, Oracle always seems to be on our radar this week. Stairs are trading softly for a third session in a row, down over two percent and last three sessions the stock has now fallen around eight percent if you take that pre market move into account. But this is all on the back of the fact that they tapped the investment grade credit market yesterday by borrowing eighteen billion dollars via a corporate bond deal, the second largest this year for
IG credit in the US. It was taken well down by the bond market, but equity holders seem to be growing a bit more skeptical about the rising debt burden, and Redburn actually has initiated coverage of Oracle, and they have initiated it with a cell rating, saying that the market is maturely overestimating the value of the firm's cloud revenue. So Oracle continuing to be on all of our minds
for the for session in a row. But really this move today is unwinding a lot of the optimism from Monday session.
And just quickly, why is hurts on your mind? This morning?
The rental car company hurts up four and a half percent. They announced a two hundred and fifty million dollar senior note offering and of private placement that essentially will relieve them of a near term debt crunch. And they will use that money to pay down their immediate debt obligations for twenty twenty five and twenty twenty six. So it's looking better for Hertz as a turnaround, but they still have a long way to go.
The 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.