1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,119 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,720 --> 00:00:19,760 Speaker 1: Let's look at some stocks on the move today. We 5 00:00:19,800 --> 00:00:23,000 Speaker 1: are joined by Bloomberg's Kritty Gupta and Kritty. We're off 6 00:00:23,239 --> 00:00:25,920 Speaker 1: pre market session lows this morning, but it is still 7 00:00:26,400 --> 00:00:28,880 Speaker 1: very difficult to find any green on the screen. 8 00:00:28,920 --> 00:00:30,720 Speaker 3: Good morning, Good morning, Nathan. 9 00:00:30,840 --> 00:00:34,559 Speaker 4: Absolutely, the selling is indiscriminate this morning. I'm gonna go 10 00:00:34,600 --> 00:00:37,320 Speaker 4: sector by sector. There's no other way to comb through 11 00:00:37,560 --> 00:00:38,400 Speaker 4: this market. 12 00:00:38,560 --> 00:00:38,960 Speaker 3: Mayhem. 13 00:00:39,000 --> 00:00:40,879 Speaker 4: I'm going to kick it off with the technology sector here. 14 00:00:40,880 --> 00:00:42,479 Speaker 4: Of course, we want to look at our mag seven's 15 00:00:42,720 --> 00:00:46,440 Speaker 4: if you are worried about seeing margin calls in this market, 16 00:00:46,479 --> 00:00:48,479 Speaker 4: tech is a great example of where you're going to 17 00:00:48,479 --> 00:00:50,720 Speaker 4: get hit aka when push comes to shove. 18 00:00:50,840 --> 00:00:53,080 Speaker 3: Your most profitable names are what you. 19 00:00:53,080 --> 00:00:55,040 Speaker 4: Sell first, and we're seeing that show up the likes 20 00:00:55,040 --> 00:00:57,920 Speaker 4: of Palenteer, for example, p lt R, one of the 21 00:00:57,960 --> 00:01:01,560 Speaker 4: major companies that's been trading off boats Sidebersecurity and the 22 00:01:01,560 --> 00:01:04,959 Speaker 4: AI trade down a whopping five percent this morning. It 23 00:01:05,040 --> 00:01:06,640 Speaker 4: is your worst performer in the tech space. And I 24 00:01:06,680 --> 00:01:08,959 Speaker 4: was saying the broadly the SMB five hundred in the 25 00:01:09,000 --> 00:01:11,280 Speaker 4: pre market. A similar story when it comes to all 26 00:01:11,360 --> 00:01:13,760 Speaker 4: of the chip exposed names. We're seeing two to three 27 00:01:13,800 --> 00:01:17,360 Speaker 4: percent declines from the likes of Micron, the likes of Nvidia, 28 00:01:17,440 --> 00:01:22,720 Speaker 4: the lights of Broadcom, NVDAMU, AVGO, those tickers all down 29 00:01:23,000 --> 00:01:26,720 Speaker 4: circa three percent this morning. You are seeing a little 30 00:01:26,720 --> 00:01:29,040 Speaker 4: bit of a mixed reaction when it comes to some 31 00:01:29,120 --> 00:01:31,440 Speaker 4: of the cybersecurity stocks though, and this is something that 32 00:01:31,880 --> 00:01:34,400 Speaker 4: Dan ives over a Webbush, the uber tech bull, who 33 00:01:34,480 --> 00:01:36,760 Speaker 4: by the way, is warned of something like ten percent 34 00:01:37,040 --> 00:01:39,040 Speaker 4: of cuts when it comes to the earnings picture already 35 00:01:39,080 --> 00:01:42,319 Speaker 4: priced in. He's actually said that cybersecurity games could be 36 00:01:42,440 --> 00:01:46,839 Speaker 4: some sort of defensive play among this selloff that you're seeing. 37 00:01:47,120 --> 00:01:49,240 Speaker 4: Not seeing any early evidence of that this morning. So 38 00:01:49,360 --> 00:01:51,160 Speaker 4: Paul Alto Networks is a great one to look at. 39 00:01:51,200 --> 00:01:56,000 Speaker 4: PANW down about four percent. Fortnet is another FTNT, also 40 00:01:56,280 --> 00:01:59,160 Speaker 4: down about four percent. Basically, Nathan, you're catching my drift 41 00:01:59,160 --> 00:02:01,720 Speaker 4: here pain across the board, and I'm going to go 42 00:02:01,760 --> 00:02:03,840 Speaker 4: on the other side of that trade, which is not 43 00:02:03,920 --> 00:02:06,960 Speaker 4: defensive but cyclical, and ultimately the banks, and here in Europe, 44 00:02:06,960 --> 00:02:10,160 Speaker 4: the banks are getting crushed this morning. We're seeing anywhere 45 00:02:10,160 --> 00:02:12,840 Speaker 4: from seven to ten percent to clients on each individual stock. 46 00:02:13,120 --> 00:02:16,240 Speaker 4: So that sentiment is feeding into the likes of the 47 00:02:16,639 --> 00:02:19,519 Speaker 4: American banks as well as some of the other American firms. 48 00:02:19,560 --> 00:02:23,240 Speaker 4: So Wells Fargo is a great one. WFC down three 49 00:02:23,360 --> 00:02:25,920 Speaker 4: point seven percent, trading a fifty eight dollars and seventy 50 00:02:26,000 --> 00:02:29,480 Speaker 4: cents per share. Goldman Sachs as well GS is your 51 00:02:29,520 --> 00:02:32,560 Speaker 4: ticker down about three percent. We're seeing this morning a 52 00:02:32,600 --> 00:02:35,120 Speaker 4: lot of people saying that the next leg of weakness 53 00:02:35,320 --> 00:02:39,320 Speaker 4: will come when the retail bidders start to sell their holdings. 54 00:02:39,400 --> 00:02:41,960 Speaker 4: Charles Schwab is a great example of a stock that 55 00:02:42,040 --> 00:02:44,680 Speaker 4: is going to be exposed to at Schw's your ticker 56 00:02:44,919 --> 00:02:47,880 Speaker 4: down three percent this morning, trading at sixty seven dollars 57 00:02:47,960 --> 00:02:49,880 Speaker 4: a share. Nathan, I'm going to wrap this up with 58 00:02:49,919 --> 00:02:52,080 Speaker 4: a quick check on Nike because we know on Friday 59 00:02:52,160 --> 00:02:54,919 Speaker 4: Nike shares got pummeled during the trade. 60 00:02:54,919 --> 00:02:56,679 Speaker 3: A lot of that with exposure to Vietnam. 61 00:02:56,720 --> 00:02:59,280 Speaker 4: This morning, you now have reports that Vietnam is trying 62 00:02:59,280 --> 00:03:01,520 Speaker 4: to communicate with the White House, trying to eliminate some 63 00:03:01,560 --> 00:03:03,720 Speaker 4: of most tear farriers on their side to get the 64 00:03:03,720 --> 00:03:05,000 Speaker 4: same reaction from DC. 65 00:03:05,440 --> 00:03:07,799 Speaker 3: Nevertheless, NK is your ticker for Nike. 66 00:03:07,840 --> 00:03:10,600 Speaker 4: Shares, down about two percent this morning, trading at fifty 67 00:03:10,720 --> 00:03:11,720 Speaker 4: six dollars a share. 68 00:03:11,800 --> 00:03:17,320 Speaker 2: Nathan the Stock Movers podcast from Bloomberg Radio. Check back 69 00:03:17,360 --> 00:03:19,760 Speaker 2: with us throughout the day for the latest roundup of 70 00:03:19,800 --> 00:03:23,000 Speaker 2: companies making news on Wall Street and for the latest 71 00:03:23,040 --> 00:03:27,200 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 72 00:03:27,240 --> 00:03:30,600 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 73 00:03:30,639 --> 00:03:32,640 Speaker 2: Auto with the Bloomberg Business app.