Paramount Skydance Drops, Ulta Beauty Rises, Sandisk Falls With Memory and Optical Names Lower |...

0:02 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 of the stocks on the move today. We can do that with Christina Aino, managing editor for Markets Live. She joins us here in studio. What are you looking at, Christine? >> All right, Paul. Let's kick it off with Paramount Sky Dance, which ticker PSKY that is very much in the red today.

0:30 Those shares are down 9/10en of 1% and that is because we got the New York Times reporting that the California Attorney General has canled a meeting with representatives of Paramount. That meeting was supposed to happen today and they were meant to be discussing a settlement of the state's lawsuit to block Paramount's proposed acquisition of Warner Brothers. We're still talking about this merger. I can't believe it. but you know looks like that is another speed bump in this process because now the AG has canceled a meeting and is accusing Paramount of leaking and misrepresenting earlier settlement discussions. You know Bloomberg Intelligence's own Ga Ra Ganazan was weighing in on this on the weekend and she said that you know the settlement talks could be a positive catalyst because that creates the first credible path to closing ahead of the March 2027 antitrust trial. But with this latest development, that is probably all in doubt now.

1:21 >> You know, for so long, everyone thought this was going to be a slam dunk given how close some of the participants in this deal are with the current Trump administration, but it's turning out not to be. So, >> the states, you know, we who knew that the states had so much power. We don't see that very often. Usually when the sign off on it, that's it. But here we go. >> Yeah. >> Okay. We'll keep an eye on that one.

1:40 What else? >> All right, let's take a look at Ulta Beauty. That is a stock in the green. the ticker ULTA and those shares are now up more than 3% at the moment. So holding on to some of their opening gains. We've seen a lot of volatility in that stock ahead of their earnings due on August 27th, so later this week. And the options market currently looking at a move of more than 7% following those earnings results. We did get Bloomer Intelligence's Lindseay Dutch weighing in and previewing those earnings saying that you know their fiscal second quarter revenue growth probably exceeded the 5% average implied for the second quarter to fourth quarter by their fullear guidance. key number to watch is of course going to be organic sales gains that reached high single digits in the first quarter but may have moderated in a second quarter because of tougher comparisons and of course rising energy prices keeping pressure on discretionary spending.

2:34 >> All right and Christine let's take a look at some memory names. You've got SanDisk. >> Yeah Sandis, one of our worst performers or the worst performer on the S&P 500 at the moment, Scarlet. So those shares are down 9.9% just shy of 10% which they were down by that much earlier. So ticker SNDK really not having good day today and as you mentioned you know this is part and parcel of a larger decline in memory and storage stocks investors again kind of questioning the longevity of the AI trade and whether there are enough positive fundamentals to keep this going. We'll of course get a read of that more with Nvidia's earnings later this week. You know, as far as Sandis is concerned, Bloomberg Intelligence's Jake Silverman did say that, you know, they have a smoother cycle on track. They are supported by long-term contracts that cover about 67% of their fiscal 2028 bits. They have across 10 customers. So, broad base there. And gross margin is around 80% of floor pricing. So, you know, for this company specifically, seems like they have enough going for it. It's just they're getting swept up in this broader story of doubts over the AI trade today.

3:41 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App.