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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 starting us off with the biggest decliner in the early trade, Dan, why is super Micro sinking this morning? Good morning, Good.
Morning, Nathan. Super Micro shares are down ten percent SMCI. And this is another AI company coming to market and looking to raise money. The AI Infrastructure Company is planning a seven billion dollar fundraising round using equity and equity linked financing. Five billions of that five billion of that will be an underwritten offering that is expected to price a day. The other two billion is an at the market program, so basically direct selling into the market, and
that's starting no earlier than the third quarter. The company as thirty nine billion dollars in orders of orders of Nvidia powered servers. The proceeds would be used to help pay for the equipment needed, and this was one of the early winners of the AI trade. Share skyrocketed in early twenty twenty four, but they've now lost about two
thirds of their value from that peak. They're facing competition from the likes of Dell and Hewlett Packard Enterprise on the server providing side, and this is the company raising money and trying to re establish itself back in the server game.
Now maybe this is the other side of the coin. This morning, we're watching shares of Taiwan Semi sore today.
Yeah, so Taiwan Semi, they were up in Korea, they're coming back in the pre market. On the ADR sticker. At TSM is down three percent in the pre market, and the Taiwan chipmaker report a thirty percent rise in monthly sales for May. But Bloomberg did the calculations and when we combined those sales with April, the sales data shows a twenty four percent rise from a year ago for the first two months of this quarter, and analysts
are looking for a thirty five percent increase. While these are big numbers, they're not quite big enough to impress Wall Street. TSMC in general does remain bullish on ai chip demand, and it did raise its full year guidance in April, seeing a large drive from KAPEC spending and this pullback does come with ADRs up forty percent year to date, So a little bit of profit taking off of this news.
Okay, well, a little bit more positivity, actually, I think we could probably say a lot more positivity this morning. Away from the tech trade. Cracker Barrel get in a bid this morning.
Shares are up eight percent and we haven't had a chance to talk about this company. But it was a fun story to cover. It was right, It was an absolutely amazing story to cover. Even President Trump got involved. So for those of those who those of you who haven't been listening faithfully for months, and I'm sure that's very few people. Yeah, Cracker Barrel last year basically tried
to rebrand its company. It moved away from its old timing aesthetic, tried to do a logo rebrand, and a lot of people rebuilt, including President Trump, who urged the company to change the logo back it eventually did. Now, Cracker Barrel is looking to embrace Americana. It launched an American heritage line that includes a shirt with eagles and fireworks.
The company also has a collection tied to the two hundred and fifty fit two hundred and fiftieth aniverse Reviews and independence that the CEO said was selling out fast. Those shares are turning around eight percent. It's starting to show up in the earnings report, which the company released
last night. Store traffic is still fading, but declines have gotten less steep, and the company is raising its full year sales guidance to around three point three billion dollars in that top Wall Street estimates.
Okay, just time to give us a preview of Oracle earnings before we hear from them this afternoon. How are the stock doing this morning?
Down three percent? And this is on the back of a general selloff, so three percent down in general tech is getting hard hit hard today. But you're right, Oracle is reporting after the bell. Wall Street is watching to see how quickly the company can get massive AI data centers built. Cloud infrastructure sales are projected to rise about ninety percent. That will be a key area to watch.
The total cloud segment is expected to bring in ten billion dollars of the nearly seventeen billion dollars of sales expected for the quarter. This is going to be a read on how this AI infrastructure plays playing out.
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