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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 of the stocks on the move today. We can do that with Bloomberg. Alexander.
Someone know about alex What are you looking at it? Good morning, guys. The first name I'm looking at is Instachart. That stock is falling this morning after Reuter's reported that the FTC sent the grocery delivery company a civil investigation demand. The FTC is seeking information about one of the company's AI pricing tools. Apparently a study showed that some shoppers got prices up to twenty three percent higher. The FTC declined to comment on this, but they told Reuters that
they are quote disturbed. In a blog post data December eighteenth, instacart said that recent reports around that surge and pricing inaccurately blurred together fundamentally different things ab price test, dynamic pricing, and surveillance pricing. So we'll be interesting to see what the FTC finds. The stock right now is down about one point five percent, but a lot less than it was in pre market trading. All right, good one to watch for. What's next? Of course, we have Lulu Lemon today.
Activist investor Elliott Management has built a stake of more than a billion dollars in the company. Elliott apparently has been working for months with retail executive Jane Nilsen. She is a former chief financial officer and chief operating officer for Ralph.
Laura.
Nielsen is viewed by the activist investor as a potential CEO candidate. Of course, the company had said that CEO Calvin McDonald would be stepping down at the end of January. Just taking a look at shares right now, they're up about seven percent. The stock rallied eleven percent since Friday, when they boosted their full year outlook and also announced
the departure of McDonald. However, if you look at Lululemon shares, they're down about forty six percent this year, So completely understandable that Elliott would want a turnaround in this company. You Micron, Yeah, a positive sign for the AI trade. Looking at shares of Micron right now, they are surging about eleven percent. This is, of course, the largest US maker of computer memory chips. The company gave an upbeat
forecast for the current quarter. They also signaled a surge in demand and supply shortages are allowing the company to charge more for their products. Analysts had estimated about four point four billion dollars in revenue for the average period, but Micron actually blew out expectations. Their revenue will be eighteen point three billion to nineteen point one billion. It is benefiting from the voracious appetite for AI computing components.
Its executive vice president of operations said that this is the most significant disconnect between demand and supply that he's seen in twenty five years.
The Stock Mover's 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.