Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Haker, joined by Bloomberg's Valerie Titel. A lot
Speaker 1: of movement this morning for Nvidia following that information report.
Speaker 1: Val how's the stock looking this morning?
Speaker 3: Good morning at Navidia is in the pre market in
Speaker 3: the red, down one point two percent on the back
Speaker 3: of that report that it has told suppliers to halt
Speaker 3: production of the company's H twenty chip. That H twenty
Speaker 3: chip that was designed specifically for the Chinese market to
Speaker 3: comply with Biden era controls. And this is according to
Speaker 3: the information its cites unidentified sources that Navidia actually issued
Speaker 3: these orders this week after Beijing has urged local firms
Speaker 3: to avoid using the We've also seen some other stocks
Speaker 3: in Navidia's supply chain trade week as well. TSMC traded
Speaker 3: down one point three percent in Taiwan. This is the
Speaker 3: main company that Navidia uses to fabricate their chips. On
Speaker 3: the flip side, though China chip stocks traded quite positively overnight.
Speaker 3: This could broadly be seen as a move by China
Speaker 3: to protect its homegrown chip industry. We had the likes
Speaker 3: of SMIC jump around seven percent and on the mainland
Speaker 3: camber Con jump around fourteen percent, as well as some
Speaker 3: other Asian ship stocks that are focused on the homegrown
Speaker 3: Chinese market perform very well.
Speaker 1: Yeah, so a lot of read through with the importance
Speaker 1: for Nvidia to get into that Chinese market more deeply.
Speaker 1: We're seeing a lot of stocks move as well on earnings.
Speaker 1: Just got results from BJ's wholesale not being taken too
Speaker 1: well by investors this morning.
Speaker 3: Vow Yeah, BJ Hostel, this is the membership only warehouse retailer.
Speaker 3: Disappointing mark when it came to comparable sales. Stock fell
Speaker 3: as much as seven percent, Nathan, but it has since
Speaker 3: paired those gains now just trading down one tenth of
Speaker 3: one percent, and that's due to their guidance that came
Speaker 3: out just after its tweaked it slightly higher, so that's
Speaker 3: helping the stock recover now. It has been a big
Speaker 3: week for retail earnings. It's really been a mixed picture.
Speaker 3: We did have some positive news when it comes to
Speaker 3: ross stores those stocks. That stock is trading up two
Speaker 3: point three percent in pre market. The discount retailer, which
Speaker 3: projected that inflation will push more consumers to seek its goods,
Speaker 3: and that kind of projection seems like was welcomed by
Speaker 3: the market. It said that same store sales will grow
Speaker 3: to the tune of two percent to three percent a
Speaker 3: quarter for the next two quarters, all based on those
Speaker 3: US consumers trading down into discount products being more selective
Speaker 3: about where they spend as they're nervous about prices climbing
Speaker 3: due to terraffs.
Speaker 1: Yeah, you mentioned the mixed picture that we are seeing
Speaker 1: from retail. It's kind of looks the same way when
Speaker 1: it comes to some of these software companies we're hearing
Speaker 1: from as well.
Speaker 3: Yeah, that's right. We did hear from the software company Workday.
Speaker 3: This is the hr software company. Those shares are trading
Speaker 3: down over five percent. They missed on gross profit, but
Speaker 3: also quite interestingly made a second acquisition in the AI space.
Speaker 3: They agreed to acquire Paradox to use aichips to help
Speaker 3: help climates clients automate their hiring process. On the flip side,
Speaker 3: a bit more positive pictures, Zoom Communications they gave a
Speaker 3: strong forecast. The stock is up four point eight percent
Speaker 3: in pre market. To say, their forecast did suggest that
Speaker 3: customers are keen for its expanded suite of products, which
Speaker 3: do include some new AI tools such as an AI assistant.
Speaker 3: I thought that was funny, Nathan, that maybe next time
Speaker 3: you call me up to speak to my assistant first.
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