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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 Dan Curtis. Starting off with one of the biggest upside movers in the pre market on this Friday morning. What's behind the bid for Lumentum This morning, Dan, Good morning.
Good morning, Nathan. Ticker Lite Lumentum is up nearly five percent in the pre market. That's as the optical component company is said said demand from US hyperscalers is accelerating. The company is projecting it will be sold out through twenty twenty eight, within two quarters. The CEO noted that capex spending from the AI space is quote enormous, and there seems to be no end in sight end quote and that showing up in the shares, which are up
one hundred and fifty percent so far this year. And that's pushed to be big enough to be added to the S and P five hundred just last month.
And we're seeing a move higher as well for another tech named Taiwan Semiconductor.
That's right. The tickers. The shares trade under TSM in the US. Those are up two percent in the pre market, as the main chip maker for Nvidia and Apple reported a thirty five percent increase in quarterly sales. The estimate topping figure pushes back against concerns that the Middle East crisis could demand for chips amid higher energy costs. The full results for the first quarter are set to come
out next week, so we'll get some more details. It should also be noted that in the US the Philadelphia Semis index called the Socks and it is a benchmark for chips. It closed yesterday's session at a second record high in a row.
Well, there's another tech name that's not joining in the upside moves this morning. What's going on with Service now?
Now, this is a software company and it is under pressure. Those shares are down over one percent in the pre market, sliding for the fourth straight day. That says, UBS cut its recommendation two neutral from buy, and it slashed the price target from one hundred and seventy dollars to one hundred dollars per share. The company is under pressure as part of what the so called SaaS apocalypse, where AI
is seen as hurting demand for legacy software providers. And on Wednesday, more news that hit the software companies Anthropic launch cloud to manage agents, and metow Platforms unveiled a new model. Shares of Service Now ended yesterday's session at their lowest price since twenty seventeen.
Oh wow, Well, let's move from software to salads because sweet Grain is in the green this morning.
That's right, So insiders are buying up shares of the salad. Specialist Goldman Sachs reported a series of insider transactions worth over three million dollars that those purchases are over two percent of the shares available for trading. That has this stock up about four percent in pre market trading underticker SG. Now, this comes after nearly ninety percent slide from the peak
in twenty twenty. And I did a quick estimate. They're trading around six dollars a share in pre market, so you could buy either three shares or one salad from them from this.
To to say, yeah, the salads are more expensive than the shares themselves. Just time to talk about a stock that's being affected by some trade news.
That's right. So Technoglass ticker TGLS. It's a window maker with about a two billion dollar market cap. It's lowered its full year adjusted EBITA outlook due to tariffs on some aluminum containing products. Now it sees a top end of two hundred and forty five million dollars for that measure. The previous guidance was two hundred and sixty five to three hundred and five million dollars. Keeping an eye on this.
Because President Trump signed a proclamation on how tariffs are calculated, which took effect earlier this week, we're starting to see this play out in company guidance.
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 Rate You Live. Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.