Closing Bell: Storage Stocks Surge, Credit-Reporting Stocks Fall - podcast episode cover

Closing Bell: Storage Stocks Surge, Credit-Reporting Stocks Fall

Jan 06, 20263 min
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Episode description

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Shares of data storage companies, Sandisk (SNDK), Western Digital (WDC), Micron Technologies (MU) and Seagate (STX) soared on Tuesday after Nvidia Corp. Chief Executive Officer Jensen Huang highlighted the need for memory and storage in comments at the tech conference CES. Shares of Sandisk soared 24% to $339.40 as investors continued to pour money into the flash memory company. Western Digital rose 16%, putting the stock on track for a record closing high and its best day since 2020. Stock in Seagate Technology Holdings also jumped 13%.

- Onestream (OS) is in advanced talks to be taken private by Hg Capital, Bloomberg reported Tuesday, citing people familiar with the matter. Talks are ongoing and a deal for the financial software could be announced as early as this week but could also not come to fruition, the report said, citing unnamed sources. OneStream shares were up over 3% in recent premarket activity Tuesday.

- Shares of America’s largest credit-reporting companies are getting pummeled after Federal Housing Finance Agency Director Bill Pulte called out the firms for raising prices.Equifax (EFX) slid as much as 6% Tuesday, TransUnion (TRU) fell 6.8% and Experian (EXPN) fell 2.7% in New York trading. Shares of Fair Isaac Corp. also dropped by as much as 4.9%.

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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio News.

Speaker 2

This is the closing bell on the stock Movers report the company's making moves at the close of US trading with Carol Masser, Tim Stenobeck, Romain Bostik, and Scarlett Food.

Speaker 1

All right, I want to go to a batch of names. Sand Discs, Western Digital, Micron, Seagate, top four gainers. We've seen in the top they were actually top in the S and P five hundred, and we've seen them leading the way once again today. Sand Disk you can see it's up twenty seven percent today session, Western Digital ups seventeen percent. You've got Micron up about ten percent, and then of course you've got Sagate up about fourteen percent.

Seagate alone number one gainer in the S and P five hundred last year after that strong start soaring, Why are these names all hire and Videos CEO Jensen Wong saying memory storage chip market is un served market, and so we did see Sandex hitting a record on high volume. So really some outperformance if you look at those names in particular, and then just real quickly for something different.

OS is the ticker one stream. It's a five point six billion dollar market cap company, share soaring today up about twenty eight percent after Bloomberg News reported that buy It from HD is buying the maker of financial software company and taking it private price six point four billion. As I mentioned or I didn't mention six point four billion, twenty four dollars a share. That was a thirty one percent premium. So yeah, a high flyer there.

Speaker 3

I love the five gainers, I know five for one. That was pretty cool. For fine, I got two decliners. You reaking me look bad. Carol Trained Technologies falling two and a half percent. We saw a lot of cooling systems makers fall today, this after Nvidia CEO Jensen Wong raised fears about demand for their products from data centers. Johnson Controls fell as much as eleven percent, Moti Manufacturing

fell much as twenty one percent. Carrier Global also was among the worst performers in the S and P five hundred today. Jensen said it's possible to cool racks with the company's next gen rubin chips using water at a temperature that does not require a water chiller, and that's

why we saw shares of these companies fall today. Also, shares of America's largest credit reporting companies falling on the day today, shares of Equifax falling three point nine percent after Federal Housing Finance Agency Director Bill Polti called out the firms for raising prices. Here's what he said in a post on social media. Quote, I do not understand what the credit bureaus are doing with their pricing. They are inviting a lot of scrutiny that is only intensifying

by the day. This comes after the Mortgage Banker's Association set in a letter to Bill Poulty that its members are facing another significant increase in credit reporting costs for twenty twenty six.

Speaker 2

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 RADDEO Live. Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.

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