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 3: I'm Tim Steneveec along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. We're joined
Speaker 3: by Bloomberg News Equities reporter Alexandra Semenova. Some late breaking news.
Speaker 1: Yeah, just when we thought an eventful trading day was over,
Speaker 1: we have some really big news coming out from the
Speaker 1: media space. We have the Wall Street Journal reporting that Paramount, Comcast,
Speaker 1: Netflix are all preparing bids for a takeover of Warner
Speaker 1: Brothers Discovery. Just looking at the initial report right now,
Speaker 1: it says that this is according to people familiar with
Speaker 1: the discussions. The initial deadline to submit a non binding
Speaker 1: first round of bids is November twentieth, so that's really
Speaker 1: quite soon. And the report also says that Warner Discovery
Speaker 1: wants this completed by the end of the year, so
Speaker 1: really fast paced on this. And also just taking a
Speaker 1: look right now at the share move on Warner Brothers,
Speaker 1: it looks like it's up and after hours trading. We
Speaker 1: also have the eight K right now it says that
Speaker 1: CEO David Zasloff agreed to amend his employment packed here
Speaker 1: they're also initiating review of all of their options. Yeah, exactly,
Speaker 1: so to be a big one in this media saga
Speaker 1: that we've been seeing time and.
Speaker 4: Time out and about Warner Brothers. Discovery up about three
Speaker 4: point two percent here in the aftermarket. All right, let's
Speaker 4: go to one name that we talked about a lot today.
Speaker 4: Actually twenty four hours ago they were reporting their earnings
Speaker 4: after the close, but today we got market reaction, and
Speaker 4: that is Cisco.
Speaker 2: Yeah.
Speaker 1: Something ironic about talking about Cisco to time when everyone
Speaker 1: is comparing this time to the nineteen ninety nine dot
Speaker 1: com bus. But that stock is actually was doing well today.
Speaker 1: It shares gained after it boosted its twenty twenty six forecast,
Speaker 1: showing progress in its effort to capture AI spending. The companies,
Speaker 1: of course, the top maker of machines that run networks
Speaker 1: and the Internet, as we know from the Internet boom,
Speaker 1: It now expects sales of as much as sixty one
Speaker 1: billion dollars in the fiscal year ending in July. That
Speaker 1: is one billion dollars more than previously expected. The stock
Speaker 1: rows four point six percent today and it's about thirty
Speaker 1: one percent a year to date. It's a really solid
Speaker 1: run for this company that obviously was such a big focus.
Speaker 4: And I think about Wujinho of our Bloomberg Intelligence team.
Speaker 4: We talked about the earnings after they came out on
Speaker 4: late Wednesday, and you know what's interesting is, yes, they are,
Speaker 4: you know, looking to expand upon their AI exposure. But
Speaker 4: what might be a saving grace if indeed we see
Speaker 4: a pullback because of concerns over AI this spend that
Speaker 4: they could actually be insulated a little bit from them
Speaker 4: because they're not as much exposed even as they move
Speaker 4: to increase that exposure. So it's kind of interesting.
Speaker 3: What can you hear me? Now?
Speaker 4: Very fun?
Speaker 3: Was that Verizon? Was it for?
Speaker 1: Was it?
Speaker 3: Yeah?
Speaker 4: Oh? Ari? Our producer says, yes, can you thank you?
Speaker 3: Ari? He knows everything.
Speaker 1: I hasn't seen one of those commercials in the very time.
Speaker 3: I've never even I they're talking about. I don't even
Speaker 3: know if they do that. They probably don't do that anymore.
Speaker 3: But I'm dating myself here, Guys.
Speaker 1: Can you hear I know that commercial? Yeah? Unfortunately for them,
Speaker 1: though some pretty bad news today. They are expecting job
Speaker 1: cuts very interesting at a time that we don't have
Speaker 1: a job's report to be seeing these announcements from corporations
Speaker 1: kind of getting a sense of what the labor market
Speaker 1: is looking at. And this report right now says that
Speaker 1: the layoffs aren't expected to affect Verizon's unionized employees and
Speaker 1: including those who work in smaller retail stores, but the
Speaker 1: cuts could get pretty aggressive. The reduction could impact ten
Speaker 1: to fifteen thousand workers, according to people familiar with the matter.
Speaker 1: And this is part of really aggressive efforts by the
Speaker 1: new CEO, Dan Shulman. He recently unveiled plans to reclaim
Speaker 1: market share for the company, and here he is acting accordingly.
Speaker 1: The stock ended down and died about flat today.
Speaker 3: Yeah.
Speaker 4: I always think about when we see this, it's like, oh,
Speaker 4: that's part of you know, changes, restructuring and whatever. But
Speaker 4: it's people losing jobs.
Speaker 1: Yeah, it's really unfortunate.
Speaker 3: But look on a day when the markets fell, the
Speaker 3: stock was in the grain, people are okay, you know, investors,
Speaker 3: vures are.
Speaker 1: Still responding positively to any kind of spending reductions by firms.
Speaker 4: Okay, mm hmm.
Speaker 3: You want to do this story, You want to do
Speaker 3: this story all day Yeah, she's waiting for Apple without
Speaker 3: She's waiting for Apple car play in her Tesla.
Speaker 4: That's what she's waiting for. That's exactly what I'm waiting for.
Speaker 1: I have to admit, guys, today is the first time
Speaker 1: I'm learning about the word infotainment for you.
Speaker 2: Why you know?
Speaker 3: Why?
Speaker 1: Why?
Speaker 3: Because you're a New Yorker?
Speaker 1: That's true?
Speaker 4: And what does that mean?
Speaker 2: Do you drive?
Speaker 1: I think I've mentioned on the show that I don't
Speaker 1: have a driver's license.
Speaker 2: I don't drive it all.
Speaker 4: I don't drive it at all.
Speaker 3: No, she doesn't have a license.
Speaker 2: To you, I grew up.
Speaker 3: What did you say? What did you say to her?
Speaker 1: What's wrong?
Speaker 3: She's wrong with her? She lives in New York City.
Speaker 3: It's the only city in the country you can live
Speaker 3: in and not you need to license.
Speaker 1: You know, it's so true.
Speaker 3: I'm here for you, my daughter, Jersey, I do, but
Speaker 3: I'm pre California. Ybody driver's license is there?
Speaker 1: Yeah, but it's true.
Speaker 4: Kids who like grow up and it's like, yeah, it's
Speaker 4: not that.
Speaker 1: I never wanted to learn. I yes, like never prioritized
Speaker 1: it because we were always taking the subways. We always
Speaker 1: had one friend who had a car and we kind
Speaker 1: of got away with not driving.
Speaker 4: I love that, all right, what do you get quickly?
Speaker 1: Well, this one is a big scoop from Mark German
Speaker 1: and Ed Ludlow here dynamic. Apparently Tesla is developing support
Speaker 1: for Apple's car Play system and its vehicles. This is
Speaker 1: according to people with knowledge of the matter. This is
Speaker 1: still private information that is being worked out. The car
Speaker 1: maker has started testing this capability internally. The car Play platform,
Speaker 1: which was long supported by other vehicles, is now you know,
Speaker 1: this effort is now happening with Tesla shows users a
Speaker 1: version of the iPhone software that is optimized for vehicle
Speaker 1: entertainment systems. As we just spoke about it. Pretty big
Speaker 1: news here for Tesla. Positive and I'm so glad this
Speaker 1: is part of your vocut I know, so smart. Maybe
Speaker 1: just holding off for self driving vehicles. I think we're
Speaker 1: making enough advancements and that feels that maybe I'll get
Speaker 1: luck in We'll.
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