1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,239 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,520 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,560 --> 00:00:23,079 Speaker 1: I'm Nathan Haker, joined by Bloomberg's Valerie Titel. A lot 6 00:00:23,120 --> 00:00:28,000 Speaker 1: of movement this morning for Nvidia following that information report. 7 00:00:28,120 --> 00:00:30,400 Speaker 1: Val how's the stock looking this morning? 8 00:00:30,440 --> 00:00:33,040 Speaker 3: Good morning at Navidia is in the pre market in 9 00:00:33,120 --> 00:00:35,600 Speaker 3: the red, down one point two percent on the back 10 00:00:35,680 --> 00:00:38,800 Speaker 3: of that report that it has told suppliers to halt 11 00:00:38,800 --> 00:00:41,920 Speaker 3: production of the company's H twenty chip. That H twenty 12 00:00:42,000 --> 00:00:45,440 Speaker 3: chip that was designed specifically for the Chinese market to 13 00:00:45,479 --> 00:00:49,080 Speaker 3: comply with Biden era controls. And this is according to 14 00:00:49,240 --> 00:00:53,400 Speaker 3: the information its cites unidentified sources that Navidia actually issued 15 00:00:53,440 --> 00:00:57,880 Speaker 3: these orders this week after Beijing has urged local firms 16 00:00:57,880 --> 00:01:01,680 Speaker 3: to avoid using the We've also seen some other stocks 17 00:01:01,680 --> 00:01:06,400 Speaker 3: in Navidia's supply chain trade week as well. TSMC traded 18 00:01:06,440 --> 00:01:09,120 Speaker 3: down one point three percent in Taiwan. This is the 19 00:01:09,160 --> 00:01:12,600 Speaker 3: main company that Navidia uses to fabricate their chips. On 20 00:01:12,640 --> 00:01:17,280 Speaker 3: the flip side, though China chip stocks traded quite positively overnight. 21 00:01:17,600 --> 00:01:20,240 Speaker 3: This could broadly be seen as a move by China 22 00:01:20,319 --> 00:01:22,920 Speaker 3: to protect its homegrown chip industry. We had the likes 23 00:01:22,920 --> 00:01:26,560 Speaker 3: of SMIC jump around seven percent and on the mainland 24 00:01:27,000 --> 00:01:29,840 Speaker 3: camber Con jump around fourteen percent, as well as some 25 00:01:29,880 --> 00:01:33,320 Speaker 3: other Asian ship stocks that are focused on the homegrown 26 00:01:33,400 --> 00:01:35,520 Speaker 3: Chinese market perform very well. 27 00:01:35,840 --> 00:01:39,160 Speaker 1: Yeah, so a lot of read through with the importance 28 00:01:39,160 --> 00:01:43,000 Speaker 1: for Nvidia to get into that Chinese market more deeply. 29 00:01:43,520 --> 00:01:46,560 Speaker 1: We're seeing a lot of stocks move as well on earnings. 30 00:01:46,600 --> 00:01:50,960 Speaker 1: Just got results from BJ's wholesale not being taken too 31 00:01:51,080 --> 00:01:53,160 Speaker 1: well by investors this morning. 32 00:01:53,200 --> 00:01:58,640 Speaker 3: Vow Yeah, BJ Hostel, this is the membership only warehouse retailer. 33 00:01:59,240 --> 00:02:02,600 Speaker 3: Disappointing mark when it came to comparable sales. Stock fell 34 00:02:02,640 --> 00:02:05,640 Speaker 3: as much as seven percent, Nathan, but it has since 35 00:02:05,680 --> 00:02:08,120 Speaker 3: paired those gains now just trading down one tenth of 36 00:02:08,160 --> 00:02:10,959 Speaker 3: one percent, and that's due to their guidance that came 37 00:02:10,960 --> 00:02:14,799 Speaker 3: out just after its tweaked it slightly higher, so that's 38 00:02:14,800 --> 00:02:17,760 Speaker 3: helping the stock recover now. It has been a big 39 00:02:17,800 --> 00:02:20,480 Speaker 3: week for retail earnings. It's really been a mixed picture. 40 00:02:20,880 --> 00:02:23,080 Speaker 3: We did have some positive news when it comes to 41 00:02:23,240 --> 00:02:26,680 Speaker 3: ross stores those stocks. That stock is trading up two 42 00:02:26,720 --> 00:02:30,400 Speaker 3: point three percent in pre market. The discount retailer, which 43 00:02:30,480 --> 00:02:34,880 Speaker 3: projected that inflation will push more consumers to seek its goods, 44 00:02:34,919 --> 00:02:38,000 Speaker 3: and that kind of projection seems like was welcomed by 45 00:02:38,160 --> 00:02:40,480 Speaker 3: the market. It said that same store sales will grow 46 00:02:40,720 --> 00:02:43,000 Speaker 3: to the tune of two percent to three percent a 47 00:02:43,080 --> 00:02:45,760 Speaker 3: quarter for the next two quarters, all based on those 48 00:02:46,639 --> 00:02:51,800 Speaker 3: US consumers trading down into discount products being more selective 49 00:02:51,840 --> 00:02:54,440 Speaker 3: about where they spend as they're nervous about prices climbing 50 00:02:54,520 --> 00:02:55,240 Speaker 3: due to terraffs. 51 00:02:55,440 --> 00:02:57,960 Speaker 1: Yeah, you mentioned the mixed picture that we are seeing 52 00:02:57,960 --> 00:02:59,760 Speaker 1: from retail. It's kind of looks the same way when 53 00:02:59,800 --> 00:03:02,840 Speaker 1: it comes to some of these software companies we're hearing 54 00:03:02,840 --> 00:03:03,480 Speaker 1: from as well. 55 00:03:04,360 --> 00:03:08,080 Speaker 3: Yeah, that's right. We did hear from the software company Workday. 56 00:03:08,520 --> 00:03:12,040 Speaker 3: This is the hr software company. Those shares are trading 57 00:03:12,080 --> 00:03:15,360 Speaker 3: down over five percent. They missed on gross profit, but 58 00:03:15,440 --> 00:03:19,239 Speaker 3: also quite interestingly made a second acquisition in the AI space. 59 00:03:19,320 --> 00:03:23,200 Speaker 3: They agreed to acquire Paradox to use aichips to help 60 00:03:23,240 --> 00:03:27,919 Speaker 3: help climates clients automate their hiring process. On the flip side, 61 00:03:27,960 --> 00:03:31,400 Speaker 3: a bit more positive pictures, Zoom Communications they gave a 62 00:03:31,480 --> 00:03:34,120 Speaker 3: strong forecast. The stock is up four point eight percent 63 00:03:34,200 --> 00:03:37,360 Speaker 3: in pre market. To say, their forecast did suggest that 64 00:03:37,400 --> 00:03:41,040 Speaker 3: customers are keen for its expanded suite of products, which 65 00:03:41,080 --> 00:03:45,200 Speaker 3: do include some new AI tools such as an AI assistant. 66 00:03:45,240 --> 00:03:47,160 Speaker 3: I thought that was funny, Nathan, that maybe next time 67 00:03:47,200 --> 00:03:49,040 Speaker 3: you call me up to speak to my assistant first. 68 00:03:50,400 --> 00:03:54,400 Speaker 2: The stock movers report from Bloomberg Radio. Check back with 69 00:03:54,520 --> 00:03:57,080 Speaker 2: us throughout the day for the latest roundup of companies 70 00:03:57,160 --> 00:04:01,120 Speaker 2: making news on Wall Street and for the latest moving headlines. 71 00:04:01,360 --> 00:04:05,360 Speaker 2: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 72 00:04:05,400 --> 00:04:08,480 Speaker 2: dot com, and on Applecarplay and Android Auto with the 73 00:04:08,520 --> 00:04:09,880 Speaker 2: Bloomberg Business app.