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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 stocks on the move today. We can do that with bloombergs. Christina, you know she's a managing editor for Markets Live. How she joined us here in the studio. Christine, what are you looking at all?
Right, Paul?
We got to take a look at SpaceX again if we're not sick of talking about that just yet, but losing a little bit of altitude down for the first rate day today, SPCX is the ticker and those shares are down more than seven percent, but it is still more than twenty percent above its IPO price. And the latest news, of course, is that they are coming to the investment grade bond market. They are going to be selling bonds and trying to raise at least twenty billion
dollars from the bond offering. That's according to Bloomberg reports last week, So more details on that this week. The proceeds will apparently refine us a temporary bridge load of about roughly the same size, which is a facility that makes up the bulk of space excess twenty nine point
one billion dollars of long term debt. Good news for SpaceX is that we did get all three major credit rating companies giving them brandings in the triple B tiers so investment grade right, and so that will help them
issue cheaper bonds than maybe they would have otherwise. So if you didn't get I guess into a stock last week, maybe some investors we want to get into the debt this week, even with that third day of decline, trading about ten dollars higher than where it ended its first day of trading.
Okay, let's take a look at the tech space. Deeper into the tech space, what do you.
Have, Yes, definitely Scarland. You got to take a look at Micron, of course, chip stock and it's going to be reporting results later this week June twenty fourth, after the bell and so took her mu. Those shares are high today, so up more than four percent, nearly five percent actually as we speak, and so extending opening gains again. In anticipation of the Earth report on Wednesday, Bloomberg Intelligence
weighing in some of the key numbers to watch. They're expecting Micron to beat fiscal third quarter revenue by about thirteen percent, beat guidance as well by about eighteen percent, citing specifically the sixty percent increase in d RAM. One number to watch, of course is margins, and so Micron has guided for non got Girls margin to be around eighty one percent in the third quarter. Key thing to
watch is whether that is going to change. Bloomberg Intelligence is not necessarily thinking that we'll expand a bit more. Maybe it might top out in the mid eighties, and it all depends on, you know, whether Micron is able to increase capacity in the long term to maintain that d RAM bitchair all right, alphabet last one alphabet. Goog is the ticker. Those shares are down more than four percent. Now.
We did get news on Friday while everyone was out over the Juneteenth holiday that Google d Mind Vice president John Jumper is leaving the company to join anthrop A. Jumper won the twenty twenty four Noble Price in Chemistry
for his work on AI. He has been a key member of Google's AI coding development team, and that is going to be a big loss to the company, especially at a time when Google has apparently struggled to sell AI coding tools to its businesses, so we'll see what the next move is there in terms of replacing him.
The stock Moover's 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.