00:09 Speaker A
Now for some of today's trending tickers. We're watching CoreWeave and Iron, Rocket Labs and Wendy's. Let's talk about the so-called neo clouds first, right? These are the companies that provide data center operations through lease uh uh agreements. In some cases they own those facilities. They're going in very opposite directions today. Let's start with CoreWeave. That company came out with its numbers here. Uh in the last quarter, first quarter, sales more than double, but the company's operating losses did widen. At the same time, the forecast for revenue for in this current quarter is below what analysts have been looking for. The upper end of its range is $2.6 billion. The analysts had been looking for $2.7 billion. The company's talking about a big a lot of investment that they're doing right now that they think should bear fruit more in the second half of the year, but the shares are down 12%. And then we've got Iron. Those shares are rising by 9 and a half% because of a new agreement with, you guessed it, Nvidia. Nvidia is investing as much as $2.1 billion in the company. Uh at the same time, uh they now have an AI cloud contract with Nvidia that is five years long, $3.4 billion. Those Iron shares have already been up quite a bit this year and they're rising again today. Let's also talk about Rocket Labs. As we know, space has been a very hot theme already, even before SpaceX comes public. And those rocket lab shares are up 23% today. Uh the company's revenue in the first quarter was ahead of estimates. It rose by 63%. Um and the company basically sold more launches. It's total launches went up to 70 in the first quarter. They've had some setbacks. They had originally aimed to launch their Neutron rocket by the end of this year. They've pushed it back a couple of times. uh but now they are saying they're still working to get it launched by the end of this year. That is designed to carry larger satellites to orbit. Um and then finally, uh we've had a big week of fast food companies reporting from McDonald's uh to Burger King. Now, it is Wendy's turn. Now, Wendy's, very different position than some of those others. It actually saw a big decline in its global comparable sales of 6.8%, particularly saw declines in the US. The international business is a little better, and the company's been trying to turn itself around. and the earnings per share in the first quarter did beat analyst estimates, and it's on a bit of a winning streak. I now I think it's for up for four straight days with that 5 and a half% or so gain in today's session.