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The Stock Movers report your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Jim Stanovac along with Alexandra Semino. But let's take a look at some stocks on the move today. We are joined by Bloomberg News acquis reporter Natalia Cuney. J Bitch, Natalia, what are you watching?
I guys, yes, stock third record high. But nevertheless I found one big decliner. This is the worst performing stock in this and P five hundred to d which is Autozon. The ticker is a z OH. The stock is done by eleven percent. So this is the company that sells different parts for used cars or trucks. So it has commercial segment which is doing well, and also consumer segment. This is so called do it yourself or day. So this is where the biggest issue is comparable sales missed expectations.
On the one hand, analysts were saying that, yeah, as we have higher oil prices, loans for new cars are still you know rates are high, so maybe that could
boost demand for different you know, parts of cars. When people want to maintain existing cars, but even that is not happening Cay shaped recovery guys, as you discussed on the show earlier, because as of now, people prefer just to wait and see, you know, and they like even I'm one of those people actually, because I did the maintenance for a car recently and I was told, oh, you got to replace this and this. I was like, can I still drive a car? This is like, yes, I'm fine.
There's any videos now too to prove like what you need? Yeah, have you seen those? Yeah, there's any videos too, I will say. I on AutoZone, I was driving a few weeks ago in like a rainstorm. The windshield wiper flew off of the car. Okay, yeah, I know. I didn't know that could happen. Uh, went there was an auto zone nearby.
Yeah.
We went to the AutoZone and the guy you know, I got a new windshield wiper and he offered to install it for completely free in the middle of a very nice.
They have a very nice jingle on their commercials. I'm not going to try and sing it.
I don't know the rights to it. Yeah, you gotta be careful, okay. AutoZone. Micron is another one.
Matron yes, so this is the best performing stock today. Shares are up by twenty percent, guys, the tickers MU We saw pretty big upgrade coming from UBS analysts. So now they raise price target to one thousand, six hundred twenty five dollars. This is almost a two hundred percent increase from a previous target of five hundred and thirty five dollars. And that also implies a market cap of about one point eight trillion dollars. So everyone is very
optimistic on memoryships stocks. And we solved from the last earnings report that Micron said we have to spend heavily on AI. Capex for this fiscal year is expected to be at about twenty five billion dollars, more than analysts expected. What I found really interesting, guys. If you go to in our in our functional Bloomboog terminal, you see that, yes, we have sixty five right analysts tracking the stock, zero
cell ratings. At the same time, we see that the average price target for this year is six hundred eighty five. The stock is trading at nine.
You would think that that contrarian indicator when no analyst is bearish on a stock.
Yeah, and they're still behind. So we will see potentially more upgrades.
Okay, that's Micron. Another stock, Well, this one making big moves today. Red wire, red wire.
So this is one of the space stocks. I'm sure we will be talking a lot about space economy state space stocks today. So the ticket for this one is our w RDW shares are up by almost twenty seven percent. So this stock is just one of the space stocks that is rallying today. Of course, we saw SpaceX filing for an IPO, we saw launch of its biggest you know, space ships, and and also everyone is just watching right now.
If Elon Musk implements whatever he's saying about building data centers in space, how or when it's going to impact the whole sector, it's going to be really fascinating.
Yeah. The data centers in space thing is like I got to see it to believe it. Yeah, it's just one of those things that is still in my mind, seems far away. But I'm not a rocket scientist.
That doesn't seem to matter to investors. They don't have to see anything to believe it. They'll hear a nice number and they're buying.
I spoke actually with a couple space experts. I was thinking about a story about data centers and what's going to happen with data centers on Earth. So they said that basically it's just so much cheaper from the energy perspective, but yes, logistics part is hard, but space is basically it has a monopoly and it's pretty you know, it's not completely impossible to do that. It's just a matter of time.
The 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 Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.