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.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel. This day after the huge move for Oracle shares after earnings, and looks like Oracles still doing okay this morning. Valerie, Good morning.
Yeah, good morning, Nathan. You're right.
Oracle, after surging thirty six percent yesterday, is up another one point six percent.
In the pre market.
The rally yesterday catapulted the co founder Larry Ellison briefly to the position of the world's richest man and actually had the biggest one day gain and well for a single person from the Bloomberg's Billionaire Index. But recently we
have heard from the Wall Street Journal. They reported that one of Oracle's new splashy customer contracts was a three one hundred billion cloud computing deal with open Ai, agreeing to provide power for five years, one of the biggest ever contracts signed in the cloud industry, four and a half gigawatts equivalent to two times the power generated from the Hoover dam.
That is what Oracle is going to.
Be delivering over the next five years to open AI.
But this Oracle rally isn't stopping. It's up another one point six percent today.
And another stock that did pretty okay after its IPO, Klarna.
How's that stock doing this morning? I did pretty okay.
Yeah, at some point yesterday it was up forty three percent on the day. But the Klarna shares are down so far in pre market trade, down nearly two and a half percent, trading at forty four dollars and seventy cents a share, so still decently above the IPO price of forty dollars.
But this buy now, pay later company was one of.
The biggest IPOs of the year, raised one point four billion dollars at evaluation of seventeen billion dollars. It was double digit oversubscribed and nearly half of the perspectives were left empty handed without an allocation. Perhaps the reason why we saw sets of run up in the share price yesterday as investors clamored on to get some exposure to Klarna.
Does the IPO market have more room to run?
That's the question that this IPO is begging, but Clarna shares in the red so far this morning, giving back some of its gains of yesterday, down two and a half percent.
We also saw another company soor after some changes at the top. Let's talk about open Door.
Open Door Technologies up over thirty one percent in pre market trade. This is the stock that kicked off the retail frenzy a few months ago. Perhaps it's on the verge of doing it again here, Nathan. It's up because co founders are going to be returning to the board, and the company is also pinching Shopify's CEO. But this
stock that was well known as a mean stock. What open Door does is a platform for you to buy and sell real estate, so it does seem like to be There is still a lot of attention attention on this meme stock.
And there's new attention on Amazon this morning, but not because of the e commerce business or the cloud business. What's going on with Amazon?
Yeah, this one I thought it was funny.
Amazon up eight tens of one percent, outperforming the Nasdaq so far this morning. It named a top pick at Morgan Stanley, but not for its cloud business. It's for its grocery store push as it seeks to compete with grocery store delivery services offered from the likes of Walmart. It comes after just a few weeks ago the mag seven company said it would offer same day groceries in two three hundred cities across the US by the end of the year.
So it's upgrade by Morgan Stanley.
Is seeing this mag seven stock outperform this morning, with Amazon up eight tens of one percent.
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.