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 Tom Keen with Paul Sweeney and Bloomberg's Nathan Hager with our stock Movers this morning, with SpaceX ticker SPCX. Tom, we've been keeping an eye on it since the IPO,
and we continue to do so this morning. Right now, the shares are lower by almost two percent, but it's kind of been swinging between gains and losses after shedding three straight days of declines more than six hundred billion dollars in market value for Elon Musk's Rocket AI company. The sixteen percent drop for SpaceX yesterday was second only to Nvidia as the biggest one day drop for a single stock on record. But of course, all this is coming as investors are waiting for SpaceX to kick off
its first investment grade bond sale. We've been talking about this for the last several days. A source tells us this morning it's going to come in five parts, and we've already reported that SpaceX is hoping to raise at least twenty billion dollars from this offering, an unusual move for an investment grade market that's used to lending to established companies that make things like cars or sell life insurance.
SpaceX has yet to turn a profit, people will expect, Yeah, it's going to keep burning cash through twenty twenty nine, according to SMPK. Well, but there's actually a great story on Bloomberg as well this morning that the SPACEXIPO is raising hope for investors in Elon Musk's other publicly traded company, that the endgame maybe a merger between SpaceX and Tesla. Tesla shares, by the way, down about two and a half percent pre market. You got another, Yeah, I got IBM.
We've been talking about the tech led selloff all morning long, but IBM shares are bucking that trend.
Right now.
They are higher by more than four four percent. Stock got an upgrade from neutral to overweight over at JP Morgan and a fifteen percent boost to that shop's price target. It's now at two hundred ninety one dollars a share Right now, IBM's around two sixty two, still below the average of analysts tracked by Bloomberg, but JP Morgan analysts say the upgrade reflects better confidence in software acceleration ahead. On top of that, Big Blue also announced it's joined
the Open AI Daybreak cyber Partner program. It says the pact is going to bring advanced AI capabilities into security operations to help enterprises counter machine speed threats. End quote. Just yesterday, President Trump praised IBM and it's CEO Arvin Krishna for boosting US chip production. He joked to reporters about selling IBM stock at a lower price before he returned to office. Oh. Also, Morgan Stanley also raised its price target on IBM from two twenty five to two sixty seven.
So there's that as well. Okay, get one more quick one. Yeah.
AMC Entertainment apparently you announce a direct share sale and the stock tanks. Right now AMC shares are sinking by more than twenty four percent. Yeah. The theater chain announced the direct offering of ninety five and a quarter million shares priced at around two hundred million dollars.
Do the math.
That's about two ten apiece. Right now, AMC is trading at two nine. Bloomberg Intelligence is suggesting close to fifteen percent dilution for common stockholders in American multi cinema.
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 Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.