1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,520 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:19,279 Speaker 3: All right, I'm Carol Masser along with Tim Stanovic. Let's 5 00:00:19,280 --> 00:00:21,760 Speaker 3: get to some stocks on the move on this Monday 6 00:00:21,760 --> 00:00:24,720 Speaker 3: with us is Bloomberg News process at. Reporter Isabelle Lee. 7 00:00:24,840 --> 00:00:27,400 Speaker 3: Good to have you here with us. An interesting day 8 00:00:27,480 --> 00:00:29,480 Speaker 3: and there are definitely some movers. 9 00:00:29,080 --> 00:00:31,319 Speaker 4: Some movers. I want to stalk with Berkshire Hathaway because 10 00:00:31,360 --> 00:00:32,879 Speaker 4: I think this would have been the big news if 11 00:00:32,880 --> 00:00:36,159 Speaker 4: we didn't see the big geopolitical crisis that happened over 12 00:00:36,200 --> 00:00:36,720 Speaker 4: the weekend. 13 00:00:36,800 --> 00:00:38,440 Speaker 1: But usually we got buried. 14 00:00:39,240 --> 00:00:41,040 Speaker 4: Yes, and usually this is a big thing and it 15 00:00:41,080 --> 00:00:43,120 Speaker 4: happens over the weekend and you log in on Monday 16 00:00:43,120 --> 00:00:46,280 Speaker 4: and you're excited. Well, the stock is now down four percent, 17 00:00:46,360 --> 00:00:49,720 Speaker 4: leading the losses among a financial a gauge of financial stocks. 18 00:00:49,760 --> 00:00:53,000 Speaker 4: So the company's operating profits fell nearly thirty percent and 19 00:00:53,080 --> 00:00:55,920 Speaker 4: Warren Buffett's last quarter as CEO, so that's really a 20 00:00:55,920 --> 00:01:00,240 Speaker 4: big move. Analyst, note the weakness in the company's insurance business. Again, 21 00:01:00,280 --> 00:01:02,320 Speaker 4: when I look at Berkshire Hathaway, it's not like I 22 00:01:02,360 --> 00:01:04,640 Speaker 4: cover it closely, but I look at it enough, and 23 00:01:04,720 --> 00:01:07,839 Speaker 4: it's such a cultural thing, you know. And then the CEO, 24 00:01:07,959 --> 00:01:11,280 Speaker 4: greg Abel, he promised to keep buffetts guiding principles. He 25 00:01:11,319 --> 00:01:14,199 Speaker 4: started his letter saying that Buffett is a hard act 26 00:01:14,360 --> 00:01:16,320 Speaker 4: to follow. So I thought that was a nice nod 27 00:01:16,360 --> 00:01:19,360 Speaker 4: because it's almost synonymous with the company. You just really 28 00:01:19,440 --> 00:01:22,040 Speaker 4: can't ignore it. I feel like almost everyone knows Warren 29 00:01:22,080 --> 00:01:26,120 Speaker 4: Buffett greg Abel, maybe just a few a few small circles, 30 00:01:26,120 --> 00:01:30,200 Speaker 4: but then hopefully he will grow in prominence. But Boomberg 31 00:01:30,240 --> 00:01:33,280 Speaker 4: Intelligence said that the capital generation of Berkshire should remain 32 00:01:33,319 --> 00:01:36,920 Speaker 4: strong given in elastic demand, although the acknowledged headwinds will exist. 33 00:01:37,200 --> 00:01:39,800 Speaker 4: Vital Knowledge did acknowledge the large drop in the fourth 34 00:01:39,880 --> 00:01:42,800 Speaker 4: quarter operating income and said that yeah, maybe that's why 35 00:01:42,959 --> 00:01:44,679 Speaker 4: we're seeing investors a little jittery. 36 00:01:44,840 --> 00:01:47,000 Speaker 1: But a reminder that greg Abel has been there for 37 00:01:47,040 --> 00:01:50,720 Speaker 1: a while. Yeah, yeah, that's exactly right. Yes, And so you. 38 00:01:50,640 --> 00:01:53,840 Speaker 3: Know, certainly, as Warren Buffett started to think about, you know, 39 00:01:53,920 --> 00:01:56,960 Speaker 3: his succession and what happens next, you know, people who 40 00:01:56,960 --> 00:01:59,160 Speaker 3: were brought into the company or part of the company 41 00:01:59,560 --> 00:02:00,960 Speaker 3: therefore a while right to. 42 00:02:01,040 --> 00:02:04,160 Speaker 1: Understand the culture that you know, he's a new in 43 00:02:04,280 --> 00:02:04,960 Speaker 1: terms of investing. 44 00:02:05,040 --> 00:02:06,760 Speaker 4: Yes, he's a new face to the public, but not 45 00:02:06,880 --> 00:02:11,160 Speaker 4: the company. Yeah, exactly, But yes, we'll see. Maybe he 46 00:02:11,280 --> 00:02:14,840 Speaker 4: will also lead a company for six decades like Warren Buffett. 47 00:02:14,919 --> 00:02:16,519 Speaker 1: But you're right, an unusual day where that would have 48 00:02:16,560 --> 00:02:19,120 Speaker 1: been kind of front and center. A class A class 49 00:02:19,160 --> 00:02:21,680 Speaker 1: shares seven hundred and twenty five thousand dollars. Yeah, but 50 00:02:21,760 --> 00:02:25,480 Speaker 1: B classes what we Yeah, but a bit more affordable. 51 00:02:25,560 --> 00:02:30,959 Speaker 4: Yeah yeah, B class shares are Yeah, they're more affordable. 52 00:02:30,440 --> 00:02:32,760 Speaker 1: More affordable for my level. 53 00:02:32,200 --> 00:02:37,240 Speaker 3: Okay, let's talk about certainly US and Israel attacks on 54 00:02:37,400 --> 00:02:40,160 Speaker 3: or on definitely in fact impacting a lot of different sectors. 55 00:02:40,160 --> 00:02:42,400 Speaker 3: We've talked a little bit about the energy sector as 56 00:02:42,440 --> 00:02:43,600 Speaker 3: a whole here at Bloomberg. 57 00:02:43,639 --> 00:02:46,600 Speaker 1: But anything to do with travel can be very interesting too. 58 00:02:46,680 --> 00:02:50,000 Speaker 4: Yes, but it's tricky. So Norwegian Crew shares they're down 59 00:02:50,040 --> 00:02:54,000 Speaker 4: by ten percent. The company announced that adjusted EPs forecast 60 00:02:54,200 --> 00:02:57,839 Speaker 4: is not meeting ustmates. They also said that their full 61 00:02:57,919 --> 00:03:00,560 Speaker 4: year net yields are expected to be little change. What 62 00:03:00,600 --> 00:03:03,040 Speaker 4: in the world is full your netfields? They're a key 63 00:03:03,080 --> 00:03:06,680 Speaker 4: industry measure of revenue per available passenger cruise day so 64 00:03:06,720 --> 00:03:09,079 Speaker 4: this is seen as stagnating as more as less and 65 00:03:09,160 --> 00:03:13,919 Speaker 4: less people reserve in advance. Oh sorry, few people. I 66 00:03:14,000 --> 00:03:16,280 Speaker 4: mix up those two words as fewer customers, like. 67 00:03:17,080 --> 00:03:19,440 Speaker 1: The English teachers calling I know, I know that feeling. 68 00:03:19,800 --> 00:03:23,520 Speaker 4: Here's the thing. We have Stiful saying shares are pressured, 69 00:03:23,560 --> 00:03:25,760 Speaker 4: but we think that it's more tied to Iran and 70 00:03:25,840 --> 00:03:29,200 Speaker 4: fuel implications. But we have Barklay saying that neither Norwegian 71 00:03:29,240 --> 00:03:32,440 Speaker 4: nor Peers have real direct exposure to the Middle East. However, 72 00:03:32,639 --> 00:03:35,360 Speaker 4: geopolitical events like these do have a tendency, of course 73 00:03:35,400 --> 00:03:37,360 Speaker 4: to impact travel, and so I think it's just a 74 00:03:37,400 --> 00:03:40,640 Speaker 4: mix day for them, a lot pulling them in every direction. 75 00:03:40,760 --> 00:03:43,360 Speaker 2: When these things are not powered by air, Yes, they 76 00:03:43,480 --> 00:03:45,800 Speaker 2: use fuel, and if that goes up in costs, that 77 00:03:45,840 --> 00:03:48,000 Speaker 2: can be a significant cost driver for these coins. 78 00:03:48,040 --> 00:03:50,800 Speaker 4: Absolutely, they also are dealing with an activist investor, Yes, Elliott, 79 00:03:51,680 --> 00:03:53,280 Speaker 4: remember Elliot, this is closed a stake of more than 80 00:03:53,360 --> 00:03:57,160 Speaker 4: ten percent. They criticize management decisions and spending. I mean 81 00:03:57,200 --> 00:04:01,320 Speaker 4: the broader cruise industry has benefited in large overall from 82 00:04:01,320 --> 00:04:03,920 Speaker 4: resilient travel devent. Although I always say this, I've never 83 00:04:03,960 --> 00:04:06,240 Speaker 4: been on a cruise. You go and cruises right now. 84 00:04:06,240 --> 00:04:07,720 Speaker 1: No, No, you're thinking of Charlie Pellett. 85 00:04:08,120 --> 00:04:09,160 Speaker 3: I've never been on a cruise. 86 00:04:09,160 --> 00:04:12,480 Speaker 1: Carnival is down seven point seven percent also though, yes, 87 00:04:12,960 --> 00:04:14,880 Speaker 1: so do we have time for another? We have time 88 00:04:14,880 --> 00:04:16,920 Speaker 1: for another. Yeah, let's do it quickly thirty seconds. 89 00:04:17,000 --> 00:04:20,560 Speaker 4: Venture Global jumping seventeen percent. This is more related to 90 00:04:20,560 --> 00:04:22,680 Speaker 4: what's happening today because the company is benefiting from a 91 00:04:22,760 --> 00:04:26,599 Speaker 4: surge in gas prices. The latest conflict led Katar to 92 00:04:26,640 --> 00:04:30,640 Speaker 4: shut down production at the world's largest LNG export facility. 93 00:04:31,040 --> 00:04:35,560 Speaker 4: So you see shares there jumping like fifteen paired by 94 00:04:35,640 --> 00:04:37,279 Speaker 4: some of those games, but double digits. 95 00:04:37,600 --> 00:04:41,000 Speaker 3: Yeah, it's an interesting market day, to say the least, 96 00:04:41,040 --> 00:04:42,240 Speaker 3: for a lot of different reasons. 97 00:04:42,320 --> 00:04:45,240 Speaker 1: But and what a kind of basket, interesting basket of 98 00:04:45,240 --> 00:04:46,000 Speaker 1: stocks right. 99 00:04:47,520 --> 00:04:51,520 Speaker 2: This stock Mover's report from Bloomberg Radio. Check back with 100 00:04:51,600 --> 00:04:54,200 Speaker 2: us throughout the day for the latest roundup of companies 101 00:04:54,240 --> 00:04:57,360 Speaker 2: making news on Wall Street and for the latest market 102 00:04:57,400 --> 00:05:01,839 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 103 00:05:01,960 --> 00:05:05,440 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 104 00:05:05,520 --> 00:05:07,000 Speaker 2: the Bloomberg Business app.