WEBVTT - Qualcomm Slips; DoorDash Plunges; Fortinet Falls

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Kritti Goupta. Not a

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<v Speaker 1>whole lot of movement broadly this morning, Cratie. But we

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<v Speaker 1>are certainly seeing some moves in either direction with Qualcomm

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<v Speaker 1>in focus, certainly this morning after earnings that beat, but

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<v Speaker 1>maybe not enough.

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<v Speaker 3>Good morning, Good morning, Nathan. I mean, this is what happens. Again.

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<v Speaker 4>I keep using this analogy, but when the A plus

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<v Speaker 4>plus student only gets an A plus, yeah, that's kind

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<v Speaker 4>of what happens. Qualcom, of course, is known for making

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<v Speaker 4>the the chips and the processors that used to be

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<v Speaker 4>part of the Apple iPhone and so part of the

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<v Speaker 4>Apple supply chain for a very long time, until Apple

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<v Speaker 4>went in other directions. Nevertheless, Qualcom had diversified their kind

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<v Speaker 4>of customer base for quite some time. This earning story

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<v Speaker 4>shows a little bit of a different picture. Like you said,

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<v Speaker 4>things are fine, things are looking pretty good. They actually

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<v Speaker 4>did meet their earnings. They gave a positive outlook. Analysts

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<v Speaker 4>were broadly positive on the report. They even talked about

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<v Speaker 4>a profit hit from a US tax change, sorry a

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<v Speaker 4>profit Yeah, they did have a profit hit from a

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<v Speaker 4>US tax change on that, but it wasn't as big

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<v Speaker 4>as the street was expecting. So again, they should be

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<v Speaker 4>good numbers across the board, and yet it fell. And

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<v Speaker 4>now this really speaks this idea that they did come

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<v Speaker 4>up with some positive numbers, but they weren't as positive.

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<v Speaker 4>It wasn't as big of a meat or margin of

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<v Speaker 4>a beat as analysts were expecting. So you are seeing

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<v Speaker 4>the shares actually come down just a little bit this

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<v Speaker 4>morning to tune about three percent. Qcom is your ticker there,

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<v Speaker 4>But ma, Nathan, I mean there are bigger stocks in

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<v Speaker 4>the tech universe that are moving in a bigger way.

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<v Speaker 3>I'm gonna start we DoorDash with it.

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<v Speaker 4>I think we can still call that a tech company

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<v Speaker 4>given it as a app at the internet.

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<v Speaker 3>U Yeah, Dash is your ticker.

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<v Speaker 4>Shares are spiraling lower, down about eleven percent this morning,

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<v Speaker 4>trading at two hundred and twelve dollars a share in change.

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<v Speaker 4>They are doing a meta which is a verb now

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<v Speaker 4>and making it a verb. They're doing a meta where

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<v Speaker 4>they're doing bigger investments, higher capex. They're trying to innovate,

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<v Speaker 4>they're trying to invest in some of their platforms. DoorDash,

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<v Speaker 4>for example, has recently acquired Delivery, which is a UK

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<v Speaker 4>food delivery business, so they're really trying to invest in

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<v Speaker 4>a big way that they keep saying is going to

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<v Speaker 4>help them in the long term. The street is looking

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<v Speaker 4>at that and saying, this is way too much spend

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<v Speaker 4>and we don't see how this is going to show

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<v Speaker 4>the same returns that you're promising, and they're getting punished

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<v Speaker 4>for DoorDash shares down some eleven percent as we speak.

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<v Speaker 4>It is your biggest volume mover to the downside this morning.

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<v Speaker 4>There's another disappointment in the tech universe, and that is

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<v Speaker 4>in the cybersecurity company for Tonet. FTNT is your ticker

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<v Speaker 4>shares training Just Shive seventy seven dollars a share also

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<v Speaker 4>down by just Shive eleven percent. They have a massive

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<v Speaker 4>services business. Obviously as a cybersecurity company, that service is

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<v Speaker 4>forecast disappointed. The street was expecting a lot more investment

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<v Speaker 4>into cybersecurity and they didn't exactly get that in this

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<v Speaker 4>set of earning, so FTNT down about eleven percent. They're

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<v Speaker 4>actually trading on and off in terms of with door

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<v Speaker 4>Dash in terms of the worst performers this morning. I

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<v Speaker 4>want to give you some good news though, because there

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<v Speaker 4>is good news in this market.

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<v Speaker 3>It's coming from an unlikely source though, and that is

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<v Speaker 3>Snap Inc. The parent company of Snapchat. Oh it is.

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<v Speaker 3>I know. I haven't talked about it in a while,

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<v Speaker 3>but it's it's one of us. While well that's what

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<v Speaker 3>I'm pushing fifty So there you go.

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<v Speaker 4>Well that's its problem. It's trying to get to get

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<v Speaker 4>the demographic. Maybe it's a new deal with Perplexity AI

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<v Speaker 4>will help change that. They're talking about a four hundred

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<v Speaker 4>million dollar deal to try to get AI involved in

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<v Speaker 4>their search platform. Shares a rallying on it the street

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<v Speaker 4>loves it Hire by twenty percent this morning. Snap shares

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<v Speaker 4>trading just shy of nine dollars a share.

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<v Speaker 3>So there's some good news and pockets of this market.

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