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'sabirabu Omar. We got to
Speaker 1: start off with the banks. We heard from Bank of
Speaker 1: America this morning, and it looks like a mostly positive
Speaker 1: earnings result is take being taken mostly positively by investors.
Speaker 3: Good morning of beer, good morning, Yeah, you're right. I mean,
Speaker 3: look this Bank of America, and we're expecting Morgan Stanley shortly.
Speaker 3: Morgan Stanley is not doing much, up a tenth of
Speaker 3: eight percent so far. Bank of America, though it's gaining
Speaker 3: in the pre trade following the earnings that just came out.
Speaker 3: I have been taking a look at them now. This
Speaker 3: follows earnings that we saw from rivals including Goldman Sachs, JP,
Speaker 3: Morgan City Group as well. In the picture, as you
Speaker 3: have pointed out, across the financial space is reassuring. So
Speaker 3: for now, for BOTHA or Bank of America, we look
Speaker 3: for the picture. In the consumer resilience space, it was
Speaker 3: poised to post a six point five percent gain net
Speaker 3: interest income, and the one court the first quarter interest
Speaker 3: income had a beat. Actually, one thing that it parallels
Speaker 3: Goldman in is that fake missed, so Fick trading miss
Speaker 3: so it joins this Goldman club where we saw yesterday
Speaker 3: that Fick trading was down more than seventeen percent, unlike
Speaker 3: equity trading. JP Morgan and City had good results when
Speaker 3: it came to both of these sectors, unlike Goldman. So
Speaker 3: we see b of A is in that club as well,
Speaker 3: and we await Morgan Stanley this morning before the trading
Speaker 3: starts in the United States.
Speaker 1: Right a record notched by stock traders at Bank of
Speaker 1: America as well. On the flip side, the luxury space
Speaker 1: just keeps getting hammered by what's happening in the Middle East.
Speaker 3: Of Beer absolutely, I mean it's already started trading. The
Speaker 3: French CAC is not doing very well. That's because most
Speaker 3: of the luxury stocks in Europe are listed there. So
Speaker 3: or Mez is a story that we were looking at
Speaker 3: as a matter of fact. I mean our Mez is
Speaker 3: now down nine percent, was falling as much as fourteen
Speaker 3: percent earlier in the trade, which was the most on record,
Speaker 3: and this is after it posted results that suggested that
Speaker 3: the first quarter was had disappointing numbers. And this is
Speaker 3: as the fallout from the Middle East leads shoppers to
Speaker 3: not shop as much for bags, but also because of
Speaker 3: tourism numbers in France. So yes, the Middle East was
Speaker 3: where you shopping. Hubs like Dubai were affected. Had a
Speaker 3: major toll on the company, which is resilient in usual times,
Speaker 3: and it's led to contagion across the luxury sector. So
Speaker 3: you're seeing the same thing happen in LVMH, Dure and Burbery.
Speaker 1: Another stock that's looking resilient this morning is Broadcom. Tell
Speaker 1: us what's happening there.
Speaker 3: Yeah, so in the pre trade it is now gaining
Speaker 3: two point six percent, almost two point six percent, and
Speaker 3: this is due to a partnership. So Meta is partnering
Speaker 3: with Broadcom to design and essentially build custom trips to
Speaker 3: power its AI effort. And this is an extension of
Speaker 3: an existing relationship really that they had or have to
Speaker 3: create these competing units called TPUs. So some details about
Speaker 3: this partnership include a commitment to develop those chips that
Speaker 3: will provide more than one gigawat of commuting, computing capacity
Speaker 3: and so this further These further talks in the relationship
Speaker 3: are expected to lead to a positive outcome in broadcom.
Speaker 3: The stock coaches, as I said, up nearly two point
Speaker 3: seven percent as of now in the pre trade.
Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.