1 00:00:02,520 --> 00:00:07,000 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 --> 00:00:16,400 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,600 --> 00:00:19,200 Speaker 3: I'm Tim Steneveec along with Carol Masser. Let's take a 5 00:00:19,239 --> 00:00:21,200 Speaker 3: look at some stocks on the move today. We're joined 6 00:00:21,200 --> 00:00:25,280 Speaker 3: by Bloomberg News Equities reporter Alexandra Semenova. Some late breaking news. 7 00:00:25,720 --> 00:00:28,440 Speaker 1: Yeah, just when we thought an eventful trading day was over, 8 00:00:28,520 --> 00:00:30,400 Speaker 1: we have some really big news coming out from the 9 00:00:30,440 --> 00:00:34,880 Speaker 1: media space. We have the Wall Street Journal reporting that Paramount, Comcast, 10 00:00:35,000 --> 00:00:39,159 Speaker 1: Netflix are all preparing bids for a takeover of Warner 11 00:00:39,200 --> 00:00:42,920 Speaker 1: Brothers Discovery. Just looking at the initial report right now, 12 00:00:42,960 --> 00:00:45,280 Speaker 1: it says that this is according to people familiar with 13 00:00:45,320 --> 00:00:49,239 Speaker 1: the discussions. The initial deadline to submit a non binding 14 00:00:49,440 --> 00:00:52,720 Speaker 1: first round of bids is November twentieth, so that's really 15 00:00:52,800 --> 00:00:56,760 Speaker 1: quite soon. And the report also says that Warner Discovery 16 00:00:56,800 --> 00:00:59,400 Speaker 1: wants this completed by the end of the year, so 17 00:00:59,720 --> 00:01:02,240 Speaker 1: really fast paced on this. And also just taking a 18 00:01:02,280 --> 00:01:04,919 Speaker 1: look right now at the share move on Warner Brothers, 19 00:01:04,920 --> 00:01:07,399 Speaker 1: it looks like it's up and after hours trading. We 20 00:01:07,480 --> 00:01:10,520 Speaker 1: also have the eight K right now it says that 21 00:01:10,760 --> 00:01:14,639 Speaker 1: CEO David Zasloff agreed to amend his employment packed here 22 00:01:15,480 --> 00:01:20,119 Speaker 1: they're also initiating review of all of their options. Yeah, exactly, 23 00:01:20,400 --> 00:01:22,760 Speaker 1: so to be a big one in this media saga 24 00:01:22,760 --> 00:01:23,840 Speaker 1: that we've been seeing time and. 25 00:01:23,760 --> 00:01:26,479 Speaker 4: Time out and about Warner Brothers. Discovery up about three 26 00:01:26,520 --> 00:01:28,840 Speaker 4: point two percent here in the aftermarket. All right, let's 27 00:01:28,840 --> 00:01:30,679 Speaker 4: go to one name that we talked about a lot today. 28 00:01:31,400 --> 00:01:33,880 Speaker 4: Actually twenty four hours ago they were reporting their earnings 29 00:01:33,880 --> 00:01:36,080 Speaker 4: after the close, but today we got market reaction, and 30 00:01:36,080 --> 00:01:36,720 Speaker 4: that is Cisco. 31 00:01:36,840 --> 00:01:37,080 Speaker 2: Yeah. 32 00:01:37,120 --> 00:01:40,560 Speaker 1: Something ironic about talking about Cisco to time when everyone 33 00:01:40,720 --> 00:01:44,880 Speaker 1: is comparing this time to the nineteen ninety nine dot 34 00:01:44,920 --> 00:01:48,080 Speaker 1: com bus. But that stock is actually was doing well today. 35 00:01:48,120 --> 00:01:52,280 Speaker 1: It shares gained after it boosted its twenty twenty six forecast, 36 00:01:52,320 --> 00:01:57,160 Speaker 1: showing progress in its effort to capture AI spending. The companies, 37 00:01:57,200 --> 00:02:00,720 Speaker 1: of course, the top maker of machines that run networks 38 00:02:00,760 --> 00:02:04,120 Speaker 1: and the Internet, as we know from the Internet boom, 39 00:02:04,440 --> 00:02:07,440 Speaker 1: It now expects sales of as much as sixty one 40 00:02:07,680 --> 00:02:10,640 Speaker 1: billion dollars in the fiscal year ending in July. That 41 00:02:10,800 --> 00:02:14,919 Speaker 1: is one billion dollars more than previously expected. The stock 42 00:02:15,000 --> 00:02:17,720 Speaker 1: rows four point six percent today and it's about thirty 43 00:02:17,760 --> 00:02:19,560 Speaker 1: one percent a year to date. It's a really solid 44 00:02:19,600 --> 00:02:23,200 Speaker 1: run for this company that obviously was such a big focus. 45 00:02:23,400 --> 00:02:25,839 Speaker 4: And I think about Wujinho of our Bloomberg Intelligence team. 46 00:02:25,880 --> 00:02:28,720 Speaker 4: We talked about the earnings after they came out on 47 00:02:29,080 --> 00:02:32,720 Speaker 4: late Wednesday, and you know what's interesting is, yes, they are, 48 00:02:32,840 --> 00:02:35,800 Speaker 4: you know, looking to expand upon their AI exposure. But 49 00:02:36,080 --> 00:02:39,160 Speaker 4: what might be a saving grace if indeed we see 50 00:02:39,160 --> 00:02:43,360 Speaker 4: a pullback because of concerns over AI this spend that 51 00:02:43,600 --> 00:02:45,720 Speaker 4: they could actually be insulated a little bit from them 52 00:02:45,760 --> 00:02:48,280 Speaker 4: because they're not as much exposed even as they move 53 00:02:48,800 --> 00:02:50,720 Speaker 4: to increase that exposure. So it's kind of interesting. 54 00:02:51,080 --> 00:02:52,239 Speaker 3: What can you hear me? Now? 55 00:02:53,240 --> 00:02:53,600 Speaker 4: Very fun? 56 00:02:53,720 --> 00:02:54,840 Speaker 3: Was that Verizon? Was it for? 57 00:02:55,720 --> 00:02:56,080 Speaker 1: Was it? 58 00:02:56,480 --> 00:02:56,720 Speaker 3: Yeah? 59 00:02:56,800 --> 00:02:59,480 Speaker 4: Oh? Ari? Our producer says, yes, can you thank you? 60 00:02:59,520 --> 00:03:00,960 Speaker 3: Ari? He knows everything. 61 00:03:01,280 --> 00:03:03,679 Speaker 1: I hasn't seen one of those commercials in the very time. 62 00:03:04,400 --> 00:03:08,480 Speaker 3: I've never even I they're talking about. I don't even 63 00:03:08,480 --> 00:03:10,280 Speaker 3: know if they do that. They probably don't do that anymore. 64 00:03:10,280 --> 00:03:11,840 Speaker 3: But I'm dating myself here, Guys. 65 00:03:12,000 --> 00:03:16,160 Speaker 1: Can you hear I know that commercial? Yeah? Unfortunately for them, 66 00:03:16,240 --> 00:03:20,920 Speaker 1: though some pretty bad news today. They are expecting job 67 00:03:20,960 --> 00:03:23,120 Speaker 1: cuts very interesting at a time that we don't have 68 00:03:23,120 --> 00:03:26,440 Speaker 1: a job's report to be seeing these announcements from corporations 69 00:03:26,520 --> 00:03:28,840 Speaker 1: kind of getting a sense of what the labor market 70 00:03:28,880 --> 00:03:31,520 Speaker 1: is looking at. And this report right now says that 71 00:03:32,520 --> 00:03:36,600 Speaker 1: the layoffs aren't expected to affect Verizon's unionized employees and 72 00:03:36,960 --> 00:03:40,120 Speaker 1: including those who work in smaller retail stores, but the 73 00:03:40,200 --> 00:03:43,960 Speaker 1: cuts could get pretty aggressive. The reduction could impact ten 74 00:03:44,520 --> 00:03:48,000 Speaker 1: to fifteen thousand workers, according to people familiar with the matter. 75 00:03:48,040 --> 00:03:50,880 Speaker 1: And this is part of really aggressive efforts by the 76 00:03:50,960 --> 00:03:56,280 Speaker 1: new CEO, Dan Shulman. He recently unveiled plans to reclaim 77 00:03:56,360 --> 00:03:59,240 Speaker 1: market share for the company, and here he is acting accordingly. 78 00:03:59,320 --> 00:04:01,760 Speaker 1: The stock ended down and died about flat today. 79 00:04:02,000 --> 00:04:02,160 Speaker 3: Yeah. 80 00:04:02,200 --> 00:04:03,840 Speaker 4: I always think about when we see this, it's like, oh, 81 00:04:03,880 --> 00:04:06,400 Speaker 4: that's part of you know, changes, restructuring and whatever. But 82 00:04:06,480 --> 00:04:07,520 Speaker 4: it's people losing jobs. 83 00:04:07,560 --> 00:04:08,840 Speaker 1: Yeah, it's really unfortunate. 84 00:04:09,520 --> 00:04:13,560 Speaker 3: But look on a day when the markets fell, the 85 00:04:13,640 --> 00:04:16,640 Speaker 3: stock was in the grain, people are okay, you know, investors, 86 00:04:16,800 --> 00:04:17,400 Speaker 3: vures are. 87 00:04:17,279 --> 00:04:22,080 Speaker 1: Still responding positively to any kind of spending reductions by firms. 88 00:04:23,200 --> 00:04:24,599 Speaker 4: Okay, mm hmm. 89 00:04:25,160 --> 00:04:26,440 Speaker 3: You want to do this story, You want to do 90 00:04:26,480 --> 00:04:29,960 Speaker 3: this story all day Yeah, she's waiting for Apple without 91 00:04:30,400 --> 00:04:32,039 Speaker 3: She's waiting for Apple car play in her Tesla. 92 00:04:32,160 --> 00:04:34,800 Speaker 4: That's what she's waiting for. That's exactly what I'm waiting for. 93 00:04:35,040 --> 00:04:37,080 Speaker 1: I have to admit, guys, today is the first time 94 00:04:37,120 --> 00:04:40,200 Speaker 1: I'm learning about the word infotainment for you. 95 00:04:40,360 --> 00:04:41,120 Speaker 2: Why you know? 96 00:04:41,160 --> 00:04:41,480 Speaker 3: Why? 97 00:04:41,720 --> 00:04:41,960 Speaker 1: Why? 98 00:04:41,960 --> 00:04:42,919 Speaker 3: Because you're a New Yorker? 99 00:04:43,160 --> 00:04:43,679 Speaker 1: That's true? 100 00:04:44,000 --> 00:04:44,760 Speaker 4: And what does that mean? 101 00:04:44,960 --> 00:04:45,440 Speaker 2: Do you drive? 102 00:04:45,520 --> 00:04:46,960 Speaker 1: I think I've mentioned on the show that I don't 103 00:04:47,040 --> 00:04:48,000 Speaker 1: have a driver's license. 104 00:04:48,720 --> 00:04:49,440 Speaker 2: I don't drive it all. 105 00:04:49,480 --> 00:04:50,240 Speaker 4: I don't drive it at all. 106 00:04:50,400 --> 00:04:51,560 Speaker 3: No, she doesn't have a license. 107 00:04:51,560 --> 00:04:52,400 Speaker 2: To you, I grew up. 108 00:04:52,720 --> 00:04:54,080 Speaker 3: What did you say? What did you say to her? 109 00:04:54,320 --> 00:04:54,800 Speaker 1: What's wrong? 110 00:04:55,480 --> 00:04:57,320 Speaker 3: She's wrong with her? She lives in New York City. 111 00:04:57,360 --> 00:04:59,000 Speaker 3: It's the only city in the country you can live 112 00:04:59,000 --> 00:05:00,640 Speaker 3: in and not you need to license. 113 00:05:00,720 --> 00:05:01,559 Speaker 1: You know, it's so true. 114 00:05:01,600 --> 00:05:04,760 Speaker 3: I'm here for you, my daughter, Jersey, I do, but 115 00:05:04,920 --> 00:05:08,520 Speaker 3: I'm pre California. Ybody driver's license is there? 116 00:05:08,600 --> 00:05:09,200 Speaker 1: Yeah, but it's true. 117 00:05:09,240 --> 00:05:11,560 Speaker 4: Kids who like grow up and it's like, yeah, it's 118 00:05:11,600 --> 00:05:11,880 Speaker 4: not that. 119 00:05:11,880 --> 00:05:14,560 Speaker 1: I never wanted to learn. I yes, like never prioritized 120 00:05:14,600 --> 00:05:16,880 Speaker 1: it because we were always taking the subways. We always 121 00:05:16,920 --> 00:05:18,640 Speaker 1: had one friend who had a car and we kind 122 00:05:18,640 --> 00:05:19,839 Speaker 1: of got away with not driving. 123 00:05:20,000 --> 00:05:21,840 Speaker 4: I love that, all right, what do you get quickly? 124 00:05:22,040 --> 00:05:24,560 Speaker 1: Well, this one is a big scoop from Mark German 125 00:05:24,640 --> 00:05:29,080 Speaker 1: and Ed Ludlow here dynamic. Apparently Tesla is developing support 126 00:05:29,120 --> 00:05:32,200 Speaker 1: for Apple's car Play system and its vehicles. This is 127 00:05:32,240 --> 00:05:34,719 Speaker 1: according to people with knowledge of the matter. This is 128 00:05:34,760 --> 00:05:38,160 Speaker 1: still private information that is being worked out. The car 129 00:05:38,200 --> 00:05:42,279 Speaker 1: maker has started testing this capability internally. The car Play platform, 130 00:05:42,320 --> 00:05:46,160 Speaker 1: which was long supported by other vehicles, is now you know, 131 00:05:46,480 --> 00:05:48,960 Speaker 1: this effort is now happening with Tesla shows users a 132 00:05:49,000 --> 00:05:53,000 Speaker 1: version of the iPhone software that is optimized for vehicle 133 00:05:53,360 --> 00:05:56,240 Speaker 1: entertainment systems. As we just spoke about it. Pretty big 134 00:05:56,320 --> 00:05:58,919 Speaker 1: news here for Tesla. Positive and I'm so glad this 135 00:05:59,040 --> 00:06:04,360 Speaker 1: is part of your vocut I know, so smart. Maybe 136 00:06:04,440 --> 00:06:07,120 Speaker 1: just holding off for self driving vehicles. I think we're 137 00:06:07,160 --> 00:06:10,040 Speaker 1: making enough advancements and that feels that maybe I'll get 138 00:06:10,120 --> 00:06:10,880 Speaker 1: luck in We'll. 139 00:06:10,680 --> 00:06:15,760 Speaker 2: Never have to learn the Stock Mover's report from Bloomberg Radio. 140 00:06:16,279 --> 00:06:18,440 Speaker 2: Check back with us throughout the day for the latest 141 00:06:18,480 --> 00:06:21,680 Speaker 2: roundup of companies making news on Wall Street and for 142 00:06:21,760 --> 00:06:25,719 Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live. 143 00:06:26,120 --> 00:06:29,719 Speaker 2: Catch us on YouTube, Bloomberg dot com, and on Applecarplay 144 00:06:29,720 --> 00:06:32,320 Speaker 2: and Android Auto with the Bloomberg Business App.