WEBVTT - Warner Bros Rises, Cisco Gains, Tesla Falls

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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 3>I'm Tim Steneveec along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today. We're joined

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<v Speaker 3>by Bloomberg News Equities reporter Alexandra Semenova. Some late breaking news.

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<v Speaker 1>Yeah, just when we thought an eventful trading day was over,

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<v Speaker 1>we have some really big news coming out from the

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<v Speaker 1>media space. We have the Wall Street Journal reporting that Paramount, Comcast,

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<v Speaker 1>Netflix are all preparing bids for a takeover of Warner

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<v Speaker 1>Brothers Discovery. Just looking at the initial report right now,

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<v Speaker 1>it says that this is according to people familiar with

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<v Speaker 1>the discussions. The initial deadline to submit a non binding

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<v Speaker 1>first round of bids is November twentieth, so that's really

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<v Speaker 1>quite soon. And the report also says that Warner Discovery

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<v Speaker 1>wants this completed by the end of the year, so

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<v Speaker 1>really fast paced on this. And also just taking a

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<v Speaker 1>look right now at the share move on Warner Brothers,

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<v Speaker 1>it looks like it's up and after hours trading. We

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<v Speaker 1>also have the eight K right now it says that

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<v Speaker 1>CEO David Zasloff agreed to amend his employment packed here

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<v Speaker 1>they're also initiating review of all of their options. Yeah, exactly,

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<v Speaker 1>so to be a big one in this media saga

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<v Speaker 1>that we've been seeing time and.

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<v Speaker 4>Time out and about Warner Brothers. Discovery up about three

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<v Speaker 4>point two percent here in the aftermarket. All right, let's

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<v Speaker 4>go to one name that we talked about a lot today.

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<v Speaker 4>Actually twenty four hours ago they were reporting their earnings

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<v Speaker 4>after the close, but today we got market reaction, and

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<v Speaker 4>that is Cisco.

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<v Speaker 2>Yeah.

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<v Speaker 1>Something ironic about talking about Cisco to time when everyone

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<v Speaker 1>is comparing this time to the nineteen ninety nine dot

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<v Speaker 1>com bus. But that stock is actually was doing well today.

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<v Speaker 1>It shares gained after it boosted its twenty twenty six forecast,

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<v Speaker 1>showing progress in its effort to capture AI spending. The companies,

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<v Speaker 1>of course, the top maker of machines that run networks

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<v Speaker 1>and the Internet, as we know from the Internet boom,

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<v Speaker 1>It now expects sales of as much as sixty one

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<v Speaker 1>billion dollars in the fiscal year ending in July. That

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<v Speaker 1>is one billion dollars more than previously expected. The stock

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<v Speaker 1>rows four point six percent today and it's about thirty

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<v Speaker 1>one percent a year to date. It's a really solid

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<v Speaker 1>run for this company that obviously was such a big focus.

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<v Speaker 4>And I think about Wujinho of our Bloomberg Intelligence team.

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<v Speaker 4>We talked about the earnings after they came out on

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<v Speaker 4>late Wednesday, and you know what's interesting is, yes, they are,

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<v Speaker 4>you know, looking to expand upon their AI exposure. But

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<v Speaker 4>what might be a saving grace if indeed we see

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<v Speaker 4>a pullback because of concerns over AI this spend that

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<v Speaker 4>they could actually be insulated a little bit from them

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<v Speaker 4>because they're not as much exposed even as they move

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<v Speaker 4>to increase that exposure. So it's kind of interesting.

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<v Speaker 3>What can you hear me? Now?

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<v Speaker 4>Very fun?

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<v Speaker 3>Was that Verizon? Was it for?

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<v Speaker 1>Was it?

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<v Speaker 3>Yeah?

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<v Speaker 4>Oh? Ari? Our producer says, yes, can you thank you?

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<v Speaker 3>Ari? He knows everything.

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<v Speaker 1>I hasn't seen one of those commercials in the very time.

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<v Speaker 3>I've never even I they're talking about. I don't even

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<v Speaker 3>know if they do that. They probably don't do that anymore.

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<v Speaker 3>But I'm dating myself here, Guys.

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<v Speaker 1>Can you hear I know that commercial? Yeah? Unfortunately for them,

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<v Speaker 1>though some pretty bad news today. They are expecting job

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<v Speaker 1>cuts very interesting at a time that we don't have

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<v Speaker 1>a job's report to be seeing these announcements from corporations

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<v Speaker 1>kind of getting a sense of what the labor market

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<v Speaker 1>is looking at. And this report right now says that

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<v Speaker 1>the layoffs aren't expected to affect Verizon's unionized employees and

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<v Speaker 1>including those who work in smaller retail stores, but the

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<v Speaker 1>cuts could get pretty aggressive. The reduction could impact ten

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<v Speaker 1>to fifteen thousand workers, according to people familiar with the matter.

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<v Speaker 1>And this is part of really aggressive efforts by the

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<v Speaker 1>new CEO, Dan Shulman. He recently unveiled plans to reclaim

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<v Speaker 1>market share for the company, and here he is acting accordingly.

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<v Speaker 1>The stock ended down and died about flat today.

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<v Speaker 3>Yeah.

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<v Speaker 4>I always think about when we see this, it's like, oh,

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<v Speaker 4>that's part of you know, changes, restructuring and whatever. But

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<v Speaker 4>it's people losing jobs.

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<v Speaker 1>Yeah, it's really unfortunate.

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<v Speaker 3>But look on a day when the markets fell, the

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<v Speaker 3>stock was in the grain, people are okay, you know, investors,

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<v Speaker 3>vures are.

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<v Speaker 1>Still responding positively to any kind of spending reductions by firms.

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<v Speaker 4>Okay, mm hmm.

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<v Speaker 3>You want to do this story, You want to do

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<v Speaker 3>this story all day Yeah, she's waiting for Apple without

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<v Speaker 3>She's waiting for Apple car play in her Tesla.

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<v Speaker 4>That's what she's waiting for. That's exactly what I'm waiting for.

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<v Speaker 1>I have to admit, guys, today is the first time

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<v Speaker 1>I'm learning about the word infotainment for you.

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<v Speaker 2>Why you know?

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<v Speaker 3>Why?

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<v Speaker 1>Why?

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<v Speaker 3>Because you're a New Yorker?

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<v Speaker 1>That's true?

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<v Speaker 4>And what does that mean?

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<v Speaker 2>Do you drive?

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<v Speaker 1>I think I've mentioned on the show that I don't

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<v Speaker 1>have a driver's license.

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<v Speaker 2>I don't drive it all.

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<v Speaker 4>I don't drive it at all.

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<v Speaker 3>No, she doesn't have a license.

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<v Speaker 2>To you, I grew up.

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<v Speaker 3>What did you say? What did you say to her?

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<v Speaker 1>What's wrong?

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<v Speaker 3>She's wrong with her? She lives in New York City.

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<v Speaker 3>It's the only city in the country you can live

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<v Speaker 3>in and not you need to license.

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<v Speaker 1>You know, it's so true.

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<v Speaker 3>I'm here for you, my daughter, Jersey, I do, but

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<v Speaker 3>I'm pre California. Ybody driver's license is there?

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<v Speaker 1>Yeah, but it's true.

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<v Speaker 4>Kids who like grow up and it's like, yeah, it's

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<v Speaker 4>not that.

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<v Speaker 1>I never wanted to learn. I yes, like never prioritized

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<v Speaker 1>it because we were always taking the subways. We always

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<v Speaker 1>had one friend who had a car and we kind

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<v Speaker 1>of got away with not driving.

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<v Speaker 4>I love that, all right, what do you get quickly?

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<v Speaker 1>Well, this one is a big scoop from Mark German

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<v Speaker 1>and Ed Ludlow here dynamic. Apparently Tesla is developing support

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<v Speaker 1>for Apple's car Play system and its vehicles. This is

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<v Speaker 1>according to people with knowledge of the matter. This is

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<v Speaker 1>still private information that is being worked out. The car

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<v Speaker 1>maker has started testing this capability internally. The car Play platform,

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<v Speaker 1>which was long supported by other vehicles, is now you know,

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<v Speaker 1>this effort is now happening with Tesla shows users a

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<v Speaker 1>version of the iPhone software that is optimized for vehicle

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<v Speaker 1>entertainment systems. As we just spoke about it. Pretty big

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<v Speaker 1>news here for Tesla. Positive and I'm so glad this

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<v Speaker 1>is part of your vocut I know, so smart. Maybe

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<v Speaker 1>just holding off for self driving vehicles. I think we're

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<v Speaker 1>making enough advancements and that feels that maybe I'll get

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<v Speaker 1>luck in We'll.

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