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 Hager, joined by Bloomberg's Kritti Goupta. Not a
Speaker 1: whole lot of movement broadly this morning, Cratie. But we
Speaker 1: are certainly seeing some moves in either direction with Qualcomm
Speaker 1: in focus, certainly this morning after earnings that beat, but
Speaker 1: maybe not enough.
Speaker 3: Good morning, Good morning, Nathan. I mean, this is what happens. Again.
Speaker 4: I keep using this analogy, but when the A plus
Speaker 4: plus student only gets an A plus, yeah, that's kind
Speaker 4: of what happens. Qualcom, of course, is known for making
Speaker 4: the the chips and the processors that used to be
Speaker 4: part of the Apple iPhone and so part of the
Speaker 4: Apple supply chain for a very long time, until Apple
Speaker 4: went in other directions. Nevertheless, Qualcom had diversified their kind
Speaker 4: of customer base for quite some time. This earning story
Speaker 4: shows a little bit of a different picture. Like you said,
Speaker 4: things are fine, things are looking pretty good. They actually
Speaker 4: did meet their earnings. They gave a positive outlook. Analysts
Speaker 4: were broadly positive on the report. They even talked about
Speaker 4: a profit hit from a US tax change, sorry a
Speaker 4: profit Yeah, they did have a profit hit from a
Speaker 4: US tax change on that, but it wasn't as big
Speaker 4: as the street was expecting. So again, they should be
Speaker 4: good numbers across the board, and yet it fell. And
Speaker 4: now this really speaks this idea that they did come
Speaker 4: up with some positive numbers, but they weren't as positive.
Speaker 4: It wasn't as big of a meat or margin of
Speaker 4: a beat as analysts were expecting. So you are seeing
Speaker 4: the shares actually come down just a little bit this
Speaker 4: morning to tune about three percent. Qcom is your ticker there,
Speaker 4: But ma, Nathan, I mean there are bigger stocks in
Speaker 4: the tech universe that are moving in a bigger way.
Speaker 3: I'm gonna start we DoorDash with it.
Speaker 4: I think we can still call that a tech company
Speaker 4: given it as a app at the internet.
Speaker 3: U Yeah, Dash is your ticker.
Speaker 4: Shares are spiraling lower, down about eleven percent this morning,
Speaker 4: trading at two hundred and twelve dollars a share in change.
Speaker 4: They are doing a meta which is a verb now
Speaker 4: and making it a verb. They're doing a meta where
Speaker 4: they're doing bigger investments, higher capex. They're trying to innovate,
Speaker 4: they're trying to invest in some of their platforms. DoorDash,
Speaker 4: for example, has recently acquired Delivery, which is a UK
Speaker 4: food delivery business, so they're really trying to invest in
Speaker 4: a big way that they keep saying is going to
Speaker 4: help them in the long term. The street is looking
Speaker 4: at that and saying, this is way too much spend
Speaker 4: and we don't see how this is going to show
Speaker 4: the same returns that you're promising, and they're getting punished
Speaker 4: for DoorDash shares down some eleven percent as we speak.
Speaker 4: It is your biggest volume mover to the downside this morning.
Speaker 4: There's another disappointment in the tech universe, and that is
Speaker 4: in the cybersecurity company for Tonet. FTNT is your ticker
Speaker 4: shares training Just Shive seventy seven dollars a share also
Speaker 4: down by just Shive eleven percent. They have a massive
Speaker 4: services business. Obviously as a cybersecurity company, that service is
Speaker 4: forecast disappointed. The street was expecting a lot more investment
Speaker 4: into cybersecurity and they didn't exactly get that in this
Speaker 4: set of earning, so FTNT down about eleven percent. They're
Speaker 4: actually trading on and off in terms of with door
Speaker 4: Dash in terms of the worst performers this morning. I
Speaker 4: want to give you some good news though, because there
Speaker 4: is good news in this market.
Speaker 3: It's coming from an unlikely source though, and that is
Speaker 3: Snap Inc. The parent company of Snapchat. Oh it is.
Speaker 3: I know. I haven't talked about it in a while,
Speaker 3: but it's it's one of us. While well that's what
Speaker 3: I'm pushing fifty So there you go.
Speaker 4: Well that's its problem. It's trying to get to get
Speaker 4: the demographic. Maybe it's a new deal with Perplexity AI
Speaker 4: will help change that. They're talking about a four hundred
Speaker 4: million dollar deal to try to get AI involved in
Speaker 4: their search platform. Shares a rallying on it the street
Speaker 4: loves it Hire by twenty percent this morning. Snap shares
Speaker 4: trading just shy of nine dollars a share.
Speaker 3: So there's some good news and pockets of this market.
Speaker 2: This stock Mover's report from Bloomberg Radio. Check back with
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