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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, leading with the new because we just got earnings from Dollar General crossing the Bloomberg terminal. Dan, how'd we do, morning, Nathan.
Dollar General is up about three percent in the pre market off the back of that underticker DG. Overall is a bit of a mix. First quarter earnings out with comparable sales at two percent that was slightly shive estimates for which were about two point one percent growth Net sales also just shive estimates. However, bottom line came in
ahead of what Wall Street was expecting. The full year earnings per share guidance is being lifted by ten pennies per share, and that the new midpoint is higher than estimates, so that's a positive on the outlook front. The company is holding its full year comp vera bole sales growth outlook though, so they're expecting a little bit more bottom line push through. And then also the company did note positive customer traffic and balance category growth. Markets are digesting this.
Shares have been bouncing around, but we are three percent up off the back of that.
Okay.
So moving from the earning story to the big stock spending story from Google parent Alphabet planning to sell a bunch of shares. What's that doing for investors who currently have Alphabet stock, Dan, Well.
It's weighing on their shares now that stock is down about two percent underticker Googl in the pre market. You're right, absolutely massive rays of cash. The company is looking to get eighty billion dollars through equity offerings to fund its AI spending spree. Forty billion dollars will be selled by selling shares into the second market that's expected next quarter, thirty billion in underwritten offerings and ten billion dollars in
an investment deal with Berkshire Hathaway. Lots of cash raise here weighing on the share as you know, they look at potential dilution off the back of this, and in what could be one of the largest equity deals of
all times. Alphabet is on an unprecedented spendings free to build AI infrastructure and capitalizing on growing appetite for its tensor processing units he used at AI and by far and away, it's the best performing mag seven stock over the past year, so looking to capitalize on that by selling some more shares back into the market.
Well, the best performing stock in this morning's pre market is hp Enterprise after their earnings blowout Dan.
Absolutely, and they've already been doing well into this earnings report. HPE is up twenty six percent in the pre market, more signs of server demand from AI players, and this is after HPE rallied from Dell's earnings last week, so just absolute tear. The company is guiding a thirty one percent increase in revenue this fiscal year and a ten
percent increase in the following year. Both outlooks were far ahead of analyst estimates, and in particular, giving guidance so far out into next fiscal year shows the company has visibility on future orders and there's long term demand there. Market is greeting that strongly, and as we said, this follows Dell, so server demand really propping these stocks up in the market.
And finally, HPE's been going back and forth in the pre market with Marvel Technology as the biggest gainer yeah.
So Jensen Wong is calling Marvel the next trillion dollar company, and that has those shares popping twenty four percent. So Marvel just a tiny bit behind by went mind owning either stock this morning, to be honest. Those comments came as he appeared on stage with Marvel CEO at Computeech's in Taipei, and Wang noted demand for products from Nvidia and Marvel is going through the roof as quote useful
AI has arrived. Marvel specializes in compute chips and optical interconnects and network switches, so basically how all these AI data centers handle data being sent across them. Huang noted the demand for optical links in general, and other optical companies are off the back of that. Names like Momentum up six percent, Coherent up over four percent to a broad AI rally this morning.
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