AI基建股承压，Alphabet遭欧盟罚款，American Eagle换CFO

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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 Dan Curtis on a morning where tech is selling off and the chip names in this country are getting caught up in it. Good morning, Dan.

Good morning, Nathan. That's right. I'm keeping my eyes on Micron. Shares are down 2% in the pre-market. Shares continue under pressure after yesterday's announcement that Meta had plans to sell excess compute. This is a potential hitch in future spending, bringing concerns that if Meta has over capacity, that could ease long-term demand for data center buildout. And it's hitting the picks and shovel AI trades like Micron.

This is memory trade. It's really been needed for these data center buildouts. And that has the shares priced to perfection 260% up year to date, but some pullback. Now, analysts seem conflicted on the mid on the medium to long-term impact for the space for Meta's announcement, but we're definitely keeping our eyes on it. One level I am watching 1,000. So, shares are at 1,08 in the pre-market, but today there's some stock stock uh sorry, some options experies and a thousand.

There's a lot of puts at a,000. So whenever you get these levels uh with a large open interest uh sometimes you know the buyers and sellers like to defend that line to kind of preserve some P&L. So big one to watch today.

Now we're also watching Google parent Alphabet. Uh this stock made some headlines in the European Union overnight.

Yeah, another hyperscaler but different news. Uh it lost a longunning fight against a $4.7 billion EU antitrust fine. It sounds like a lot. The fine represents about 4 days of Alphabet's revenue just because it generates so much cash. The block's top judges upheld a ruling around Android's market power abuse. The decision revolves around the Google around Google using Android's dominance to give it an advantage via pre-installation on some Google software.

The fine was first leveled in 2018. There's been a lot of appeals and the decision today is legally binding. That has the shares down about 7/10en of a percent in pre-market.

Now you've got American Eagle Outfitters on your list. This doesn't have to do with any of the advertising, does it?

It has to do with the management change. So, I don't think the CFO had a role in uh the advertising. Uh but the CFO is Mike Matus is stepping down after holding the role since 2020. He names Ravi Thanowal as his successor who's currently the CFO of Papa John's and the president of the North American region for that company. The ongoing the outgoing executive is going to be transitioning to a non-executive strategic adviser and he'll advise as a replacement for the rest of the fiscal year.

The shares have been lagging this year. They've lost a third of their value. So, the new CFO is going to have some of his work cut out for him.

Okay. Uh let's close this out, Dan, with an update on um Bending Spoons. This is the parent company of uh AOL, right? They had their IPO. Um how's that one doing this morning?

Giving up back some of those gains from the first day of trading. So, Bending Spoons, ticker BSP, a new one. So, got to still memor have time to memorize that ticker. Uh those shares are down almost 3% in the pre-market after yesterday's 40% uh bump after the uh IPO. The company, this is a a company that has a PE style playbook. So, it buys distress software apps and looks for ways to make them more efficient. As you said, it portfolio includes AOL.

It also holds Vimeo and taking not and not taking app Evernote. So, we're keeping an eye some light selling today, but still holding on to most of yesterday's gains in the pre-market.

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