Closing Bell: Micron and Dollar Tree Rises, Public Storage Falls | Stock Movers
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Bloomberg Audio Studios podcasts, radio,
news.
This is the closing bell on the stock
movers report. [music] The companies
making moves at the close of US trading
with Carol Masser, Tim [music] Stenc,
Roma Bostic, and Katie Grifeld.
>> All right guys, let's go to some of the
individual gainers if I may. Micron
Technology up uh at its high 6.7%
[music]
finishing the day with a gain of about
3.7%
here. Also, the Philadelphia
semiconductor index, we saw that average
also higher on the day thanks to Micron.
>> Now, are all these chips actually made
in Philadelphia? [laughter]
>> That's a great
>> just the cheese steak ones.
>> Okay. Yeah.
>> Okay. I love cheese stakes, but
>> sure thing.
>> Uh 25 names in the socks higher today.
Five unchanged. So Micron which reports
on Wednesday uh shares are up uh lifted
the group as a whole especially those
memory and storage companies as analyst
optimism grows ahead of the chip makers
results later on this week. Stock is up
around 60% year to date. Uh so we are
watching that sector throughout the week
and as I mentioned the socks also up
about 2% for the day overall. Uh moving
on over to Dollar Tree and Dollar
General. Uh those names also higher
today. Dollar Tree up about six and a
half percent. Uh best day since June. Um
this one as it's uh announced it
strategy to introduce higher priced a
item to uh is actually helping to
increase its sales especially with
wealthier shoppers. So company shifting
merchandise and stores to sell more
goods in a range of $3 to5 including
toys and party supplies. That boosted
results last quarter. So you have that
at play. I also want to mention that the
independent was out on Dollar General
and that one was up about two and a
quarter%. Uh it's introducing a new
store format designed to encourage
customers to browse and treasure hunt
before they make a purchase and they're
also planning to pilot a subscription
program as part of its loyalty efforts
and they're going to open up some new
stores in 2026 focus on rural areas. So
both of those names hire. And then for
something a little bit different, uh,
ticker DSGR, Distribution Solutions,
shares soaring 35% in today's session.
It's, uh, a $1.2 billion market cap
industrial distribution company, and it
received a preliminary non-binding
proposal from LKCM, Headwater
Investments to basically buy it for
29.50 a share. But the stock did close
uh, at 26 and change. So, I don't know,
maybe investors are expecting more. I
don't know. Anyway, I just thought it
was something different and interesting.
You had so many gainers to choose from.
I envy you.
>> You You actually would have liked me. I
You know, remain. You don't have
anything to add?
>> No, Carol.
>> What's wrong, Bailey? What's wrong with
him?
>> You were perfect today. [laughter]
>> Oh, wait. What? What?
>> That was I I didn't Okay, let's start
with the decliners. Uh CF Industries
down 5.6%. This is a stock that's up
close to 60% year to date. Scotia Bank
downgraded KN&S and warned that uh CF
industries and nutrient valuations are
looking quote overstretched amid the
rally since the conflict in Iran started
once again. Uh fertilizer stocks fell
today. CF Industries falling by 5.6%.
And a little M&A news for my next one.
Uh PSA US it's public storage shares
today fell by 2.7%. This after the
company agreed to acquire National
Storage Affiliates Trust. It's an all
stock deal worth about $10.5 billion in
including debt. The combined company
expected to have a combined market value
of about 57 billion and an enterprise
value of $77 billion. And a late
addition, this is an interesting one.
One main holding shares. Uh this is a
company that is in the financial
services industry. It does provides
personal and auto loan products. Shares
today fell by 5.4% 4% this after New
York Attorney General Leticia James
along with a bipartisan coalition of 12
other AGs filed a lawsuit against the
company and its units for allegedly
misleading customers and trapping
borrowers in expensive loans uh excuse
me with expensive and often useless
additional products. That's what the
suit alleges. Uh we should note that one
main financial out with a statement they
call this a meritless lawsuit brought by
states and they say the state's
allegations are simply untrue. Their
case is wrong on the facts and wrong on
the law and attempts to relitigate
issues that were already reviewed by the
CFPB and fully resolved. We operate
honestly and transparently in full
compliance with all laws and
regulations. The statement uh continues,
but that's the gist of it. Down uh 5.4%
today. All right, a quick check on
yields. Of course, on a day where we saw
oil actually decline and we saw the
dollar decline as well. In fact, the
biggest drop that we've seen in the
Bloomberg Dollar Spot index in about a
month and a half. Yields following lower
as well, about four to five basis points
pretty much across the board ahead of
that big Fed decision day on Wednesday.
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This Bloomberg stock movers report covers significant shifts in the US market at the close of trading. Key gainers include Micron Technology, boosted by optimism ahead of earnings, and Dollar Tree, which is seeing success with a higher-price merchandise strategy. On the downside, CF Industries fell after a downgrade, Public Storage dropped following an acquisition announcement, and OneMain Holdings faced a lawsuit from multiple state attorneys general regarding its lending practices.
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