Generac Jump; Nebius Higher; Fluence Energy Slumps

0:00In business, there's the easy way with Staples, more the hard way. That Staples, easy, means guidance from real human experts and workplace solutions you can count on. Whether you're outfitting an office, stocking the break room, managing facilities, or printing materials for your next big meeting. It's no wonder they're trusted by 75% of the Fortune 500. Don't choose Hard, choose Staples. Learn more at staples.com. 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 stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis, starting us off with the biggest gainer pre-market, a little company called Generak that's getting some big attention this morning. Good morning, Dan. Good morning, Nathan. That's right. Shares of Generak, which trade undertaker G and RC are up

1:01nearly 35% in the pre-market. That's as the generator company signs a deal to supply Amazon with generators. Initial deliveries in the deal for the next two years is seen to be around $2.4 billion. So to put that into context, this is for a company that did $4.2 billion in revs that year. So about 1.2 billion, that's about a 25% increase from this deal for this company. Hence, the big stock reaction and the deal total could hit $8 billion in sales. Now, part of this deal, Generak also issued a warrant to an Amazon subsidiary that allows it to purchase up to 2.6% of the common stock for around $200 a share. So this pre-market move erasing some of the past months to declines, but it's closed up 28% on the year. It's traded over $290 in its peak in June. And right now, it's trading around $2.35. So it's coming back up towards the peak levels that we've seen earlier this year. Yeah, close to 35% move to the upside, certainly gets your attention.

2:02And so does the gain this morning from Nebius? Yeah, so this is a NeoCloud company. And there's a report that is hiking on-demand rates for compute. So this is a company that rents out basically chips, computing power, GPUs to AI users. And starting October 1st, prices for some Nvidia chips are set to rise by upper team low 20% depending on the specific chips. But we're seeing 17% to 21% price increases for using the compute, which indicates continuing demand and an increased monetization on the massive outlays that these companies are spending on these chips. Now, Nebius has a strategic partnership with Nvidia. It received $2 billion earlier this year. And that's helped boost the shares up over 150% year to date. And those shares are adding another 10% in the pre-market today. Wow, okay, so we got to move to the losing side of the ledger here. The biggest declineer pre-market is fluent energy in a big way.

3:03Down 22% something else that definitely catches your attention. Ticker, FLNC is an energy storage company. So utility scale battery systems and it's cutting its full year revenue forecast. Now sees total revenue about $2.4 billion. That's a drop from the previous outlook and 20% below Wall Street's estimate. This comes from production delays at a manufacturing facility in Houston where it's had to switch from automated welding to hand welding. So that's really slowed down what they've been able to output from that facility. And the company is also dealing with supply chain bottlenecks. Following this, we've also seen cuts from the sell side. So a bear cut to underperform this morning. Truist and Piper Sandler cut price targets on the company as well, really weighing it down in the pre-market. So we also got earnings from Lanar, the home builder. We know how tough the housing market has been. It looks like it was another tough quarter for this company as well. Yeah, so it's been tough and it missed estimates. So Lanar had three quarter earnings per share coming at $1.23. That was six tenth shy of estimates.

4:04Revenue also missed outlook. The shares are down about two and a half percent in the pre-market under Ticker LE. And the company also cut guidance for the number of closings this year for the second time. And Bloomberg intelligence doesn't seem see this letting up. It sees continued pressure into next year. Mortgage rates rebounding above 7%. That's weighing on demand. Margions are seen continuing under pressure. And the stock's already down 24% this year. It's falling, that's after two years of fall. So continued pressure in this phase. 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. In business, there's the easy way with staples, more the hard way.

5:05That staples, easy, means guidance from real human experts and workplace solutions you can count on. Whether you're outfitting an office, stocking the breakroom, managing facilities, or printing materials for your next big meeting. It's no wonder they're trusted by 75% of the Fortune 500. Don't choose hard, choose staples. Learn more at staples.com. If you listen to financial news, you know a lot of time to spend thinking about what's next. The next opportunity, the next investment, the next move. But sometimes what matters most is being ready for what you never saw coming. For more than 75 years, Cincinnati Insurance has worked with independent agents to help protect businesses, homes, valuables, and more. Because planning for the future isn't only about knowing what's next, it's about making sure you're ready for what you can't predict. Let Cincinnati Insurance make your bad day better. Find an independent agent at cianfian.com. Hey guys, it's Ashley Kinetti from the Ben

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