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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 Stan Curtis on a comeback morning for the market. Except for Oracle.
Good morning, Dan, Good morning, Nathan. Oracle shares are down eight percent in the pre market underticker OARCL as the AI company raises its capex projections for the current fiscal year to seventy billion dollars. It does that whilst maintaining its revenue outlook for the period at ninety billion dollars. That's basically saying the company is seeing itself spending more
to make the same amount of revenue. The CFO said that this was that the higher capex was driven due to demand to prepay some components and in order to fuel all the spending. The company plans to forty billion dollars this year, half of which was already announced in a share sale that will be coming up. All of those figures overshadowing the fiscal four quarter revenue rising twenty one percent and earning speeding esimates this stock taking a hit in the pre market.
Well, Oracle may be taking a hit, but memory stocks are on the comeback trail.
Dan, that's right, and I have my eyes particularly on Micron, which is up three percent ticker MU and sand disc SNDK up five percent in the pre market. There's a few different stories going on here. First off, we do have that Oracle CAPEC story, this company spending more money and where will that go into the companies that make the hardware that goes into all the AI servers and
that includes the memory space. We also have Morgan Stanley out with a note saying memory stocks can move higher after correcting that note was primarily focused on two big Koreean memory makers, Samsung and sk Heinex, but Morgan Stanley noting that memory is still the main bottleneck in the AI build out, so it sees demand in the space. Micron is the other part of the big three. So you have those two big Korean companies, Micron another part of the big three, so this demand could be playing out.
And also after a few days drops, we're seeing from some appetite coming back into buy these stocks.
Well, along with the earning story. Dan, we've got some deal news as well for Data and Eaton's Mobility.
That's right, So ETN for Eaton is up two percent. Data is now down six percent in the pre market ticker d AN. The Eaton is going to separate out its mobility group, which will then combine with Data. Dana sees this delivering synergies within two years, and it is boosting its twenty thirty target to fourteen to fifteen billion dollars. The deal values Eaton Mobility at about five billion dollars.
The combined company is seen worth about ten billion dollars in enterprise, and Eaton shareholders will control the company with a stake of at least fifty point one percent. Data shareholders get the remainder. Initially we had Data shares up off of this. Those have now reversed now down in the pre market almost six percent.
And finally, Dan, of course, we're getting closer to the pricing of the spacexipo. How our space related stocks doing in the pre market.
Yeah, we're keeping our eye on this, on the halo effect around spacexipo, and they are up. So some of the big names. Redwire took our RDW up five percent, ast Space Mobile up four and a half percent, Rocket Lab up four percent. There's a lot of anticipation around SpaceX and what it can do for the entire space pun intended, and it's lifting up those shares. In general,
these stocks are doing well. Redwire up nearly one hundred percent on the year, but there's been a pull back forty thirty to forty percent in most of these names. Some buying ahead of that IPO.
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