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Bloomberg Audio Studios, Podcasts, radio News.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Masser along with Tim Staneviek. Let's take a look at some stocks on the move on this Wednesday with us as Bloomberg News Equities reporter Alexandra Semonova. She's back there at Bloomberg headquarters. All right, so alex let's start with Micron Technology.
Hey guys, Yeah, this is a stock that is down about three percent right now, even as it gave a forecast that was generally upbeat, kind of highlighting how lofty the expectations are from investors around AI. Fiscal first quarter revenue will be around twelve point five billion dollars. That's
¶ Micron Stock Falls Despite Forecast
above what Wall Street expected. The average was eleven point nine billion dollars, but some estimates went as high as thirteen billion dollars. Micron stock has of course doubled this year, rising at a faster pace than some of its peers, reflecting all the AI fueled optimism. Strong results from Oracle and Broadcom also added to this frends and of course raised the bar for a Micron the stock you know,
obviously is down even despite a generally good earnings report. CFR, a research analyst, said that a Broadcom and Oracle results and also a slew of bullish cell side reviews had raised the bar so high that everyone was preparing for a Micron blowout. Rather, so this is why kind of there's some disappointment around this.
Okay, Micron on your raidar. Charl Schwab is also a stock that you are watching. What's going on with Schwab today?
Yeah, it is down today along with the broader market. But they did say today that they want to give retail investors access to private companies given the fact that
¶ Charles Schwab Eyes Private Investments
there is a growing number of firms that have been industry giants before even going public. This is according to their CEO, Rick Worster. He cited financial technology company Stripe and of course are official intelligence company open AI as billion dollar companies that they want retail to be able
to participate in. They also said that employees of these companies would love liquidity for their stock positions, and of course this follows the likes of Robinhood, which of course was kind of a pioneer in giving retail investors more access to different financial products. They also had said that they want their clients to be able to invest in private companies.
I mean, Alex, you know this more than anybody, right, It's like everybody. It's all about private markets, and in particular, I feel like private credit that even on the retail level now everybody's kind of clamoring to figure out how to get it to their clients.
Yeah. Absolutely, And I guess this is just a sign of the times. Given all the euphoria when you've had such a run up in the public markets, it's no surprise that, you know, investors and those offering financial products are trying to find a way to have their clients get into other asset classes as well. Given the interest in private companies.
I was going to say, though, showaps had a nice run so far this year. I was looking at the dees page. It's septimbat twenty five percent here today.
Alex, you mentioned that one of the reasons Shrob is looking into this is because of those high flying AI companies. We've got an AI story that you're watching next. Microsoft on the move today.
Yeah, it is, so it is going to start using artificial intelligence models from Anthropic to help power its workplace AI stations. Business users of Microsoft's Copilot branded AI assistant
¶ Microsoft Expands AI Assistant Tools
will also be able to use this feature in addition to open ai, which they were using previously. Apparently, they'll be able to toggle between the two surfaces. Microsoft has taken kind of a leading position in commercializing AI for the workplace, largely thanks to that partnership with open Ai,
the startup, of course behind chat GPT. And it's interesting because Anthropic was founded by a former AI employee, so and it also has been one of the largest competitors to open ai, so really interesting to see them also take this service.
On the stockmover'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.