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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 Tim Steeveeck along with Carol Master. Let's take a look at some stocks on the move today. We're joined by Bloomberg News Equities reporter Natalia Kenny Jvich. Natalia. A lot moving in the after hours.
A lot. So let's start with the biggest post market stock mover, or Oracle, the tickers O r CL. The stock is down by six point five percent on posting disappointing cloud revenue. So basically, fiscal second quarter cloud sales increased thirty four percent, revenue four in infrastructure business jumped sixty eight percent, but both those metrics they came below expectations. The company is now engaging in this big data center buildout to power. Of course, this ai work for open Ai.
It also has clients like Biden says TikTok Meta Platforms as some of its customers. However, there's a lot of skepticism among investors because they think that there's a lot of competition from companies like Alphabet. So it's still there are lots of unknowns in the future for the company.
There's a lot of nervousness when it comes to Oracle. I mean the stock is slid about thirty percent I think since hitting a record just a few months ago, and so it's done I think about thirty percent, and then you're just seeing it continue to trade lower. So there is nervousness about the spend and build out, right.
I think that's the concern going into it too, was like, yeah, exactly what's going on? And you know, we saw it with credit default swaps just a few weeks ago, and I think and look, we're talking about this recording this at a time where we haven't listened to the call yet. So you said, and you made the point on our program today, Carol, that this is going to be a main question on the call.
Yeah.
So, and also are going to want to know about the debt.
Means it's a little hand good to the Bloomberg a little bit later on.
All right, So Oracle on your radar. Also g e Veranova ticker ge V.
I love this stock.
Why do you love it? I just think it's just the spin off.
Yeah, I think the spinoff story. The background, Remember when GE was just a huge conglomerate, everything under and then they spun off.
The GE was the company, it was the aconomy. They were in everything. They were in financial services, they were in industrial state media. I mean, yeah, so it's a very different g Vernova is very different than what GI was back in the day.
We're doing well, doing well. This is the best performance stock in the S and P five hundred today. It's a by fifteen almost sixteen percent today. And this is also now your AI infrastructure story, because right we see that the company is benefiting from this demand for electricity, driven of course by data centers, AI overall electrification of the economy. However, I should point out that win the
business was the weakest spot. Nevertheless, we saw an upgrade from Oppenheimer and the analysts said that despite this wind, business underperformed. The magnitude of AI infrastructure built out is becoming much bigger and lasting longer than they previously expected. The price target was said that eight hundred and fifty five dollars.
Stock close at seven twenty three. Stock is up almost one hundred and twenty percent year today. That's amazing.
Okay, so that's certainly one stock that moved higher today. A stock that did not move higher today and in fact moved lower was Uber. Gig economy stocks took a real hit today, Natalia, what's going on exactly?
So Uber the taker as Uber is down by five point five percent today. This came after a Webbush analyst raised some concerns and specifically they said that Tesla and Way more ramping up their autonomous vehicle efforts into twenty twenty six and that could be a big disruption for companies like Uber like and they say twenty twenty six could be a very painful year. This is a quote
for both companies. And he also said that many people just underestimate how negative the impact from avs could be for this traditional drivers.
Remember Uber had this whole autonomous vehicle under Travis Kalanik, like they were doing this, Yeah, and they sold it off a few years ago because it was expensive and shareholders didn't necessarily love it. But I mean this was the ultimate goal was create And that's what Elon's trying to do with Tesla Robotaxi, like create a service that doesn't actually involve human drivers.
And then there's weymos.
Well that's the point, right, Love weimos.
Have you been in a Wemo Never? Oh my god, it is heavenly. It's like going into a spa. I mean the music is spa, like there's nobody in there. It's like an really spotless car.
Carol's always raised your hand to go to California.
Everything I know, I make sure I get in a way.
Milt is a couple of times the Stockmovers 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.