00:00I'm going to start with Cerebris, which is down about 9%. Remember, this company went public just
00:06in May, so it's their first profit report since going public. A ticker symbol here, CBRS. By the
00:12way, it raised $5.5 billion in May, part of the biggest IPO in chip industry history. Shares,
00:19though, are plunging here. The company gave an annual sales forecast that disappointed investors,
00:24and the CEO said on the earnings call that the biggest challenge for Cerebris right now is
00:28getting enough data center space. It's sort of in a race with other companies like NVIDIA to capture
00:35these data centers to move AI forward. And the fluctuations in the share price really reflect
00:41the swings, I think, in sentiment over the AI boom. If you look at where it's come from,
00:45it debuted at $185 in May, closed as high as $311. It's up 23% since going public, and here
00:53we have
00:53the stock down about 10% today. So, you know, it's also, I think, gotten wrapped up in the big,
01:00you know, chip wreck that we saw the past few days. Chip wreck. Yeah, that's right. I heard that.
01:04Yeah. Very cool. All right. Let's move on to FedEx. Ticker symbol there, FDX. It is down
01:09more than 6%. So profit beat after the closing bell yesterday. But it is, Wall Street's getting caught up
01:17in what it had to say about cost. So it said it's trying to navigate these trade policies at the
01:24grounding of its MD-11 cargo jet fleet. They're calling it significant headwinds to operations.
01:29So on the conference call, the CEO said profit margin for the past quarter declined to 8.4%. That
01:35was below analysts' expectations. Also, the stock has had a pretty nice run up. It's up 36%
01:42so far this year. It has beaten the past few quarters. So, you know, it didn't live up to
01:48those higher expectations. Can I ask a dumb question? If you're not in the semis, have you
01:52participated in the bull market this year? I don't, not nearly as much. Like, that's probably
01:58the answer. It's like the semis is the story. Yeah, yeah. The breadth of this rally is pretty narrow.
02:03So let's move on to Hertz. HTZ, ticker symbol there, absolutely getting slammed here in the
02:09pre-market is down 21%. So the car rental company saying it realized losses on the sale of vehicles
02:17in May compared with April. Hertz executives saying that in early May, they expected depreciation
02:24per unit or per vehicle would be well below $300 a month. They expected to make gains on the sale
02:30of vehicles in the second quarter. That has not been the case. So they are struggling. Hertz is
02:36struggling amid this used car market. 10-year track record, negative 28% per year. Basically,
02:42it's 30 to 5. Yeah. Yeah. I'm a gold customer there, though. How about that? Good for you. What
02:48do you get for that? You just walk on to the, I don't have to check into anything. I just
02:51walk on
02:52and pick a car I like. How about that? I'm totally unfair on this, folks. Please don't trust me on
02:58this. I had such a bad experience with them. Oh, no. That I'm jaded for... Well, I have no choice.
03:05Who else are you going to go to? What happened? And in San Francisco, you have to go to Hertz.
03:08Yeah,
03:09you do. You rent a Vespa out there, don't you? Yeah, absolutely. But for 20 years, I was renting
03:14Hertz's out in San Francisco. Yeah, I could see it. Well, we'll hear about the Hertz story during
03:17commercial break. Also, I just want to get this in. Hertz is planning to offer $100 million of its stock
03:22in a public offering.
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