WEBVTT - Nvidia Hits $5 Trillion, Fiserv Plunges, Verizon Rises Sespite Drop in Customers

0:00:02.520 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

0:00:10.240 --> 0:00:13.520
<v Speaker 1>your roundup of companies making moves in the stock market,

0:00:13.680 --> 0:00:16.200
<v Speaker 1>harnessing the power of Bloomberg Data.

0:00:16.400 --> 0:00:19.280
<v Speaker 2>Let's get some individual equity movers now and bring in

0:00:19.480 --> 0:00:23.239
<v Speaker 2>from market drivers normal Linda Bloomberg Television Markets correspondent Nora

0:00:23.360 --> 0:00:24.639
<v Speaker 2>get Us started in video.

0:00:24.680 --> 0:00:26.840
<v Speaker 3>The big name here, the big name of the day here,

0:00:26.960 --> 0:00:29.800
<v Speaker 3>and almost feels like every day at this point. Let's

0:00:29.800 --> 0:00:32.800
<v Speaker 3>take her in VDA and we are seeing the company

0:00:33.080 --> 0:00:36.479
<v Speaker 3>we're averaring up as much as five point six percent.

0:00:36.800 --> 0:00:38.760
<v Speaker 3>This is the highest level on record. Of course, we

0:00:38.840 --> 0:00:41.960
<v Speaker 3>know that the company topped the five trillion dollar mark,

0:00:42.040 --> 0:00:44.840
<v Speaker 3>the first company to do that in terms of market capitalization.

0:00:45.159 --> 0:00:46.919
<v Speaker 3>But of course we also know that this is a

0:00:46.920 --> 0:00:49.320
<v Speaker 3>lot of this being really driven by a lot of

0:00:49.320 --> 0:00:51.880
<v Speaker 3>the plans and partnerships that they've been rolling out. But additionally,

0:00:52.159 --> 0:00:55.480
<v Speaker 3>Trump saying that he will discuss the company's Blackwell AI

0:00:55.560 --> 0:00:59.280
<v Speaker 3>processors with Chinese leader Chi Jimping, and so this of

0:00:59.320 --> 0:01:03.120
<v Speaker 3>course will rallying, getting Wall Street really excited about what

0:01:03.120 --> 0:01:04.959
<v Speaker 3>that can mean here for the company and just the

0:01:04.959 --> 0:01:07.680
<v Speaker 3>broader landscape here. So you are seeing sharers on a

0:01:07.760 --> 0:01:10.119
<v Speaker 3>tier up about fifty five percent here today.

0:01:10.280 --> 0:01:12.080
<v Speaker 4>Wow, all right, very good. I'll tell you what it

0:01:12.240 --> 0:01:15.600
<v Speaker 4>used to be like a hot stock, hot sector telecommunications.

0:01:15.600 --> 0:01:17.720
<v Speaker 4>If Verizon reported today as well.

0:01:17.560 --> 0:01:20.600
<v Speaker 3>They did report revenue. We saw a lot of different

0:01:20.600 --> 0:01:22.360
<v Speaker 3>metrics that came through here, but they did report a

0:01:22.400 --> 0:01:26.039
<v Speaker 3>loss in terms of wireless phone subscribers for the third quarter.

0:01:26.560 --> 0:01:28.680
<v Speaker 3>But they do really have an aggressive strategy that they're

0:01:28.680 --> 0:01:30.840
<v Speaker 3>really trying to roll out here to gain subscribers. So

0:01:30.840 --> 0:01:34.800
<v Speaker 3>they're trying to focus away from emphasizing their network and

0:01:35.000 --> 0:01:38.440
<v Speaker 3>towards improving more or less the customer experience here. So

0:01:38.480 --> 0:01:41.039
<v Speaker 3>you're seeing shares of Verizon up for their best day

0:01:41.120 --> 0:01:43.920
<v Speaker 3>since July here, up as much as five point one

0:01:44.040 --> 0:01:46.800
<v Speaker 3>percent on the year. Not looking like there's too much

0:01:46.840 --> 0:01:49.760
<v Speaker 3>going on here, up about one percent so far, you're.

0:01:49.640 --> 0:01:51.960
<v Speaker 4>Today, Well, it's interesting. This is a new CEO, Dan Shulman,

0:01:52.200 --> 0:01:56.600
<v Speaker 4>plans to quote aggressively transform Verizon's culture and cost structure

0:01:56.640 --> 0:02:00.480
<v Speaker 4>to improve the customer experience and compete effectively. I mean

0:02:00.480 --> 0:02:03.360
<v Speaker 4>you think about you know, Verizony, big telecom companies. That

0:02:03.480 --> 0:02:06.080
<v Speaker 4>might be a hard thing to do, absolutely aircraft carriers

0:02:06.320 --> 0:02:07.560
<v Speaker 4>of companies, and I feel.

0:02:07.360 --> 0:02:10.160
<v Speaker 3>People are kind of like locked into whatever company they

0:02:10.200 --> 0:02:11.560
<v Speaker 3>work with. I mean, I feel like you have your

0:02:11.600 --> 0:02:14.320
<v Speaker 3>one phone provider. Unless some other hot new deal comes out,

0:02:14.360 --> 0:02:16.120
<v Speaker 3>you pretty much stick with the legacy that you have.

0:02:16.360 --> 0:02:17.360
<v Speaker 4>But churn is a big thing.

0:02:17.400 --> 0:02:19.800
<v Speaker 2>And what that's also true when it's some to upgrade

0:02:19.840 --> 0:02:21.519
<v Speaker 2>your phone, that's when you start looking at right, you

0:02:21.600 --> 0:02:24.120
<v Speaker 2>start shopping around cast about see who gets you the

0:02:24.120 --> 0:02:26.640
<v Speaker 2>best deal. All right, let's take a look at five Serve.

0:02:26.840 --> 0:02:29.280
<v Speaker 3>I Serve not a pretty day here, actually the worst

0:02:29.360 --> 0:02:32.120
<v Speaker 3>day ever on record for the company. This is a

0:02:32.160 --> 0:02:34.400
<v Speaker 3>fintech company that we're talking about, falling for its lowest

0:02:34.440 --> 0:02:37.440
<v Speaker 3>level since twenty eighteen. This is after its results really

0:02:37.440 --> 0:02:41.160
<v Speaker 3>confused Wall Street. They suffered a record plunge after slashing

0:02:41.200 --> 0:02:44.200
<v Speaker 3>their outlook for full year earnings and a third quarter

0:02:44.280 --> 0:02:47.600
<v Speaker 3>results that really did not fall well in terms of

0:02:47.919 --> 0:02:50.239
<v Speaker 3>Wall Street expectations here, So you really are seeing the

0:02:50.240 --> 0:02:53.040
<v Speaker 3>stock taking a beating today in particular. But it hasn't

0:02:53.080 --> 0:02:56.360
<v Speaker 3>really been a pretty picture this year totally here. I mean,

0:02:56.440 --> 0:02:59.399
<v Speaker 3>shares have been down sixty four percent so far this year.

0:02:59.480 --> 0:03:01.880
<v Speaker 3>So clearly a troubled company right now.

0:03:02.760 --> 0:03:07.000
<v Speaker 1>The stockmover's report from Bloomberg Radio check Back with us

0:03:07.000 --> 0:03:09.800
<v Speaker 1>throughout the day for the latest roundup of companies making

0:03:09.880 --> 0:03:13.480
<v Speaker 1>news on Wall Street, and for the latest market moving headlines.

0:03:13.720 --> 0:03:17.720
<v Speaker 1>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:03:17.760 --> 0:03:20.840
<v Speaker 1>dot com, and on Applecarplay and Android Auto with the

0:03:20.880 --> 0:03:22.240
<v Speaker 1>Bloomberg Business app.