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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 Karen Moscow. We're joined by Bloomberg's Dan Curtis.
Dan.
Good morning. We're watching Nvidia this morning. We know Jensen Wong is in China, and I'm sorry that story just fascinates me about him jumping on the plane in Alaska. So is this part of the reason.
Yeah, so a coworker was joking that this is probably the most profitable hitchhiking trip ever. And Vidia shares are up two percent in the pre market. That says Reuter's reporting that the US has cleared about ten Chinese companies to buy in Vidia's H two hundred chips. Those are the second most powerful chips the company offers. They're kind of tailored towards China. Of those, the report says that Ali, Baba, Tencent, Bite, Dance,
JD dot Com are some of those companies. Although a single delivery has been made yet now, Previously there's been back and forth on these chips. These companies also had to have approval from Chinese authorities. Earlier this year, be Bite, Dance, Tencent, Alibaba were reportedly some of the first to receive approval. So these companies clearly seem to be at the front of where China is looking for bringing in these Nvidia chips.
Wong spoke to reporters saying the meetings went well. He told Bloomberg he hasn't really discussed the H two hundred during this trip. I'm going to quickly work in one other winner from this. Boeing shares are up one percent besten out in the last hour, saying he thinks that they'll see large Boeing orders from China. So apparently we're getting some orders and some potential orders in from this trip.
Yeah, that definitely works to mention all right. We're also watching Cisco's systems and it seems investors are pretty impressed with its earnings.
It's up sixteen percent in the pre market undertack our CSCO the companies reporting fiscal third quarter results that beat estimates and it raised its full year forecast. Total product orders grew thirty five percent. That was driven by AI in structure orders from hyperscalers. It also announced they'll cut fewer than four thousand jobs in the current quarter. There will be summer structuring charges up to one billion dollars, about half of those to be recognized in the current quarter,
the remainder of the charges next fiscal year. But investors are taking that seventeen percent up in the pre market. This is set for the biggest one day gain off of earnings for this company since two thousand and two. So massive jump.
All right, what's going on with wolf Speed?
Yeah, so wolf Speed ticker wolf Those shares are up over five percent in the pre market, continuing higher after yes their sixteen percent search. The company was highlighted by research company Satrini as a quote single stock highlight. So Treaty's saying that the company is spent so aggressively, aggressively to build up chip capacity. It went bankrupt last year. Now that it's on the other side of the bankruptcy that Centrini is calling the setup quote perfect.
The stock is up.
Over eighty percent this month, and it's coming amid some pullbacks in the high flyers companies like Micron down one percent, companies like Intel down three and a half percent. Those have been leading the chip charge. We're starting to see some bifurcation in the market this.
Morning, and you're also watching dot Simity out of San Francisco.
Yeah, so this is a healthcare software firm trades Undertickerdocs. Shares are down twenty one percent in the pre market. The firm is forecasting twenty twenty seven adjusted EBITA of about three hundred and thirty million dollars. That's well blow the three hundred and seventy million dollar estimate. It is getting pinched by its AI investment, which is pressuring the downside, and the company sees minimal AI revenue contribution this coming
fiscal year. The longer term hope from the companies that AI search will present billions of dollars in a new market, but right now they are not showing how it's going to really collect revenue off of the spending in the short term. That has investors wary in the pre market.
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 Radio, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app
MHM.