WEBVTT - BofA Stock Traders Notch Record; Hermès Falls Most on Record; Broadcom Gains

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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'sabirabu Omar. We got to

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<v Speaker 1>start off with the banks. We heard from Bank of

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<v Speaker 1>America this morning, and it looks like a mostly positive

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<v Speaker 1>earnings result is take being taken mostly positively by investors.

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<v Speaker 3>Good morning of beer, good morning, Yeah, you're right. I mean,

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<v Speaker 3>look this Bank of America, and we're expecting Morgan Stanley shortly.

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<v Speaker 3>Morgan Stanley is not doing much, up a tenth of

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<v Speaker 3>eight percent so far. Bank of America, though it's gaining

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<v Speaker 3>in the pre trade following the earnings that just came out.

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<v Speaker 3>I have been taking a look at them now. This

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<v Speaker 3>follows earnings that we saw from rivals including Goldman Sachs, JP,

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<v Speaker 3>Morgan City Group as well. In the picture, as you

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<v Speaker 3>have pointed out, across the financial space is reassuring. So

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<v Speaker 3>for now, for BOTHA or Bank of America, we look

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<v Speaker 3>for the picture. In the consumer resilience space, it was

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<v Speaker 3>poised to post a six point five percent gain net

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<v Speaker 3>interest income, and the one court the first quarter interest

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<v Speaker 3>income had a beat. Actually, one thing that it parallels

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<v Speaker 3>Goldman in is that fake missed, so Fick trading miss

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<v Speaker 3>so it joins this Goldman club where we saw yesterday

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<v Speaker 3>that Fick trading was down more than seventeen percent, unlike

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<v Speaker 3>equity trading. JP Morgan and City had good results when

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<v Speaker 3>it came to both of these sectors, unlike Goldman. So

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<v Speaker 3>we see b of A is in that club as well,

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<v Speaker 3>and we await Morgan Stanley this morning before the trading

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<v Speaker 3>starts in the United States.

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<v Speaker 1>Right a record notched by stock traders at Bank of

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<v Speaker 1>America as well. On the flip side, the luxury space

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<v Speaker 1>just keeps getting hammered by what's happening in the Middle East.

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<v Speaker 3>Of Beer absolutely, I mean it's already started trading. The

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<v Speaker 3>French CAC is not doing very well. That's because most

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<v Speaker 3>of the luxury stocks in Europe are listed there. So

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<v Speaker 3>or Mez is a story that we were looking at

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<v Speaker 3>as a matter of fact. I mean our Mez is

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<v Speaker 3>now down nine percent, was falling as much as fourteen

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<v Speaker 3>percent earlier in the trade, which was the most on record,

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<v Speaker 3>and this is after it posted results that suggested that

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<v Speaker 3>the first quarter was had disappointing numbers. And this is

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<v Speaker 3>as the fallout from the Middle East leads shoppers to

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<v Speaker 3>not shop as much for bags, but also because of

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<v Speaker 3>tourism numbers in France. So yes, the Middle East was

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<v Speaker 3>where you shopping. Hubs like Dubai were affected. Had a

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<v Speaker 3>major toll on the company, which is resilient in usual times,

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<v Speaker 3>and it's led to contagion across the luxury sector. So

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<v Speaker 3>you're seeing the same thing happen in LVMH, Dure and Burbery.

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<v Speaker 1>Another stock that's looking resilient this morning is Broadcom. Tell

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<v Speaker 1>us what's happening there.

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<v Speaker 3>Yeah, so in the pre trade it is now gaining

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<v Speaker 3>two point six percent, almost two point six percent, and

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<v Speaker 3>this is due to a partnership. So Meta is partnering

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<v Speaker 3>with Broadcom to design and essentially build custom trips to

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<v Speaker 3>power its AI effort. And this is an extension of

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<v Speaker 3>an existing relationship really that they had or have to

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<v Speaker 3>create these competing units called TPUs. So some details about

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<v Speaker 3>this partnership include a commitment to develop those chips that

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<v Speaker 3>will provide more than one gigawat of commuting, computing capacity

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<v Speaker 3>and so this further These further talks in the relationship

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<v Speaker 3>are expected to lead to a positive outcome in broadcom.

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<v Speaker 3>The stock coaches, as I said, up nearly two point

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<v Speaker 3>seven percent as of now in the pre trade.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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