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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. Why do you have Alexi?
I am fired up because there's a big deal here between core Weave and Meta. First, I just want to say core Weave was up about seven and a half percent after what I'm just about to say was announced. It's now up just about one percent, so definitely losing some steam. But Corewave has struck a twenty one billion dollar deal to supply computing power to Meta platforms. These two already had a deal, so this is just really an expansion. This is going to go through the year
twenty thirty two. So core Weave will provide AI cloud capacity to Meta from multiple data centers, powered in part by Nvidia's AI chips. So let's get Nvidia in there too, right. Of course, it builds on that fourteen billion dollar agreement the companies had previously reached that ran through twenty thirty one.
Okay, I'm lost Livingston, New Jersey. Love it. Five hundred and fifty employees. This is not a Dow Jones Industrial average component is no.
But they've got some awesome technology. I'm just that's what man Deep tells me. He says they've got awesome technology. On agran is telling me the same thing. So, yeah, Livingston, New Jersey, great spot there, but yeah, that's the tech people want.
So this core weef, Yeah, that is all in on core weave. All right, let's move over to Amazon. It's up one and a half percent here This morning, Andy Jasse, the CEO, out with the company's annual shareholder letter. There's a bunch of nuggets in there. He said that the company would use the next year to focus on expanding rural delivery. They're going to invest heavily in robotics and generative AI. Surprise, surprise, He actually announced plans to invest
two hundred billion in CAPEX in this year. Actually largely focused on AI, which he calls it once in a generation, you know, technological shift.
They don't deliver books like they used to know.
They used to be wrapped. You get them perfect in pristine. Oh my god, Jeff Bezos, how did you do that? And now book after book after book, it's the packaging.
Here's cappecs numbers time you like Capex, Yeah, twenty twenty two Capex for Amazon sixty billion dollars this year two hundred billion.
Is you were just reporting? Seriously, they've changed the economy in New Jersey, un Philadelphyeah. Absolutely. Fulfillment centers everywhere. Have they set the wage? I think so.
I think people say, what's some minimum wage? I say whatever Amazon's say exactly.
I can't say enough, folks, the impact here. You're on fire today.
You're all all right, well, let's go three for three Constellation brands.
Okay, this is tech.
This company is down about one percent or eight down eighteen percent over the past year, projected slower than expected growth for its beer business. Now, this is the company behind Modello and Corona.
See that a lotdell, You do what?
Modello is now the top selling beer in the country, wand that it unseated bud Light. But still, I mean overall the beer category is weakening. And remember Constellation sold off several wine brands last year because wine had been especially hit hard by the younger generation. Right, younger folks not drinking as much, including Line.
There's all those silly things that the white claws and I don't.
Yeah, I just cannot get into it.
A few years ago, ten six hundred employees Western New York, Rochester, the Sands family started, They're going to We're do like a beverage thing. And it started out way back Constellation Brands.
Oh, is that just started? I didn't.
I just kept getting more genormous and genormous and this is Richard Sands, but it's it's one.
Of those story.
It started out and then they became thishemoth of like alcohol and alcohol behemoth.
They are like it gets these having white hots on Zweigel white hats, and you know, they said, let's start a company where we distribute beverages.
Yep.
Yeah, Well their outlook wasn't too grad either. Came in below estimates, so market pushing Constellation Brands down, like I said, about one percent right now.
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