1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:17,040 Speaker 1: harnessing the power of Bloomberg data. Let's take a look 4 00:00:17,040 --> 00:00:20,119 Speaker 1: at some stocks on the move today. Lexis that it. 5 00:00:20,120 --> 00:00:23,120 Speaker 2: Is, and I want to start with automakers and really 6 00:00:23,200 --> 00:00:25,360 Speaker 2: focus in on General Motors. So a number of major 7 00:00:25,400 --> 00:00:29,480 Speaker 2: automakers reported lower US sales to start the year, and 8 00:00:29,520 --> 00:00:33,320 Speaker 2: that is due to rising gas prices, among other challenges. 9 00:00:33,760 --> 00:00:37,360 Speaker 2: General Motors first quarter sales they fell by nine point 10 00:00:37,520 --> 00:00:42,680 Speaker 2: seven percent, its Cadillac Escalade and Chevrolet Suburban large suv 11 00:00:43,360 --> 00:00:47,560 Speaker 2: tumbling sales down seventeen percent there, So are we seeing 12 00:00:47,600 --> 00:00:52,120 Speaker 2: a pattern people moving away from those gas guzzling vehicles. 13 00:00:52,159 --> 00:00:54,959 Speaker 2: And GM's not alone. You've got sales at Honda down 14 00:00:55,000 --> 00:00:58,080 Speaker 2: four point two percent, Toyota sales a slid eight and 15 00:00:58,120 --> 00:01:00,920 Speaker 2: a half percent so far this year, and we've got 16 00:01:00,960 --> 00:01:04,919 Speaker 2: shares of General Motors down about two percent at the moment. 17 00:01:05,120 --> 00:01:07,720 Speaker 2: So we've got the surgeon gas prices right. It now 18 00:01:07,720 --> 00:01:09,640 Speaker 2: costs thirty five percent more to fill up your gas 19 00:01:09,680 --> 00:01:12,040 Speaker 2: tank than it did before the war. National average now 20 00:01:12,040 --> 00:01:14,959 Speaker 2: four oh eight. We know much higher in certain areas 21 00:01:15,000 --> 00:01:17,959 Speaker 2: like where Paul lives there in New Jersey. Also in Europe, 22 00:01:18,280 --> 00:01:21,640 Speaker 2: diesel futures topping two hundred dollars in some instances. So 23 00:01:22,720 --> 00:01:24,800 Speaker 2: this surge though in gas prices, it sort of has 24 00:01:24,840 --> 00:01:26,640 Speaker 2: people wondering do I need to buy a new car 25 00:01:26,760 --> 00:01:28,320 Speaker 2: right now or a car at all? I mean, if 26 00:01:28,640 --> 00:01:30,559 Speaker 2: your car is still on the road and it's doing okay, 27 00:01:30,640 --> 00:01:33,000 Speaker 2: unless you absolutely need to buy one, it doesn't look 28 00:01:33,080 --> 00:01:35,399 Speaker 2: like people are racing out to do that right now. 29 00:01:35,440 --> 00:01:37,640 Speaker 2: And in many instances you can find a better deal 30 00:01:37,720 --> 00:01:40,280 Speaker 2: on a used car. The average price for a new 31 00:01:40,319 --> 00:01:43,800 Speaker 2: car in this country still fifty thousand dollars. Yeah, that 32 00:01:44,000 --> 00:01:46,880 Speaker 2: to me is the is the number of it is there. 33 00:01:47,000 --> 00:01:49,240 Speaker 2: There was a beautiful Chevrolet that went by me on 34 00:01:49,280 --> 00:01:51,120 Speaker 2: Fifth aven When I looked at the price and it 35 00:01:51,200 --> 00:01:52,960 Speaker 2: was thirty some thousand. 36 00:01:53,120 --> 00:01:53,920 Speaker 1: It was beautiful. 37 00:01:54,320 --> 00:01:57,600 Speaker 2: It is Maigan, Korea have a Chevrolet. That's how they 38 00:01:57,680 --> 00:02:00,000 Speaker 2: do it. There, you go next, all right, Global Stone, 39 00:02:00,360 --> 00:02:04,600 Speaker 2: This stock is up twelve percent today. It's one year return, 40 00:02:04,680 --> 00:02:06,800 Speaker 2: by the way, two hundred and twenty nine percent. 41 00:02:07,520 --> 00:02:07,840 Speaker 1: Sweet. 42 00:02:08,919 --> 00:02:11,359 Speaker 2: It's got a market cap of more than eight point 43 00:02:11,440 --> 00:02:13,800 Speaker 2: eight billion dollars. So the Financial Times was reporting that 44 00:02:13,880 --> 00:02:16,839 Speaker 2: Amazon is and talks to acquire a Global Star, which 45 00:02:16,880 --> 00:02:20,920 Speaker 2: is a satellite provider. And this is Amazon wants to 46 00:02:20,960 --> 00:02:23,440 Speaker 2: build its own satellite operation. It's been wanting to do 47 00:02:23,480 --> 00:02:25,080 Speaker 2: this for a while. It wants to deploy more than 48 00:02:25,400 --> 00:02:29,040 Speaker 2: seventy seven hundred low orbit satellites. They want to compete 49 00:02:29,040 --> 00:02:33,640 Speaker 2: with SpaceX's Starlink service to provide high speed internet access. 50 00:02:34,000 --> 00:02:37,359 Speaker 2: Now Global Star they operate an older, higher orbit system 51 00:02:37,360 --> 00:02:39,639 Speaker 2: of satellites. I just learned this and reading about. 52 00:02:39,400 --> 00:02:41,840 Speaker 1: It, space girl. Yes, yeah, I'm well you can. 53 00:02:41,880 --> 00:02:44,079 Speaker 2: Keep it with our space theme and artimists too this week. 54 00:02:44,560 --> 00:02:48,400 Speaker 2: But they focus on connecting phones and devices in areas 55 00:02:48,400 --> 00:02:51,080 Speaker 2: of low coverage. But so analysts are saying the system 56 00:02:51,280 --> 00:02:54,040 Speaker 2: not quite suited for the high speed broadband that is 57 00:02:54,080 --> 00:02:57,920 Speaker 2: offered by SpaceX and Starlight is exactly right, right, But 58 00:02:57,960 --> 00:02:59,840 Speaker 2: you know, Apple invested one and a half billion in 59 00:02:59,840 --> 00:03:01,560 Speaker 2: goal global Star a couple of years ago. They actually 60 00:03:01,560 --> 00:03:03,360 Speaker 2: have a twenty percent stake in the company, so they 61 00:03:03,400 --> 00:03:04,920 Speaker 2: may have a say in whether or not they do 62 00:03:04,960 --> 00:03:10,840 Speaker 2: this deal with Amazon. All right, Airlines, look, airlines, it's 63 00:03:10,880 --> 00:03:13,160 Speaker 2: you know, you would believe that the airlines stocks are 64 00:03:13,160 --> 00:03:15,200 Speaker 2: taking a hit with the way We have WTI now 65 00:03:15,639 --> 00:03:18,600 Speaker 2: above one hundred and twelve dollars a barrel. We know 66 00:03:18,680 --> 00:03:22,040 Speaker 2: that crude effects jet fuel. Jet fuel effects prices that 67 00:03:22,120 --> 00:03:25,720 Speaker 2: the airlines are charging. So Delta, United Airlines, American Airlines, 68 00:03:25,720 --> 00:03:28,400 Speaker 2: each of them down four percent, and Delta in particular 69 00:03:29,200 --> 00:03:31,440 Speaker 2: TD cowan out with a note this morning lowering the 70 00:03:31,440 --> 00:03:34,079 Speaker 2: firm's price target to seventy six from seventy seven. They're 71 00:03:34,160 --> 00:03:37,640 Speaker 2: keeping their buy rating. Investors are skeptical basically on the 72 00:03:37,680 --> 00:03:40,600 Speaker 2: resiliency of travel demand. You know, are people going to travel, 73 00:03:40,720 --> 00:03:43,560 Speaker 2: especially take those long haul, more expensive flights over the 74 00:03:43,560 --> 00:03:46,200 Speaker 2: summer with energy prices so high, So it's a big 75 00:03:46,280 --> 00:03:49,200 Speaker 2: question mark. By the way, Delta's CEO Ed Bastion, he 76 00:03:49,240 --> 00:03:52,400 Speaker 2: sent out a memo to sky Miles members. I'm a 77 00:03:52,440 --> 00:03:54,640 Speaker 2: sky Miles member. I got this memo. Thank you very much, 78 00:03:54,640 --> 00:03:58,400 Speaker 2: mister Bastan, saying thanking us for our patients during their 79 00:03:58,400 --> 00:04:02,520 Speaker 2: recent partial government shutdown. Delta says security wait times have 80 00:04:02,680 --> 00:04:05,160 Speaker 2: turned to normal have returned to normal levels. 81 00:04:06,280 --> 00:04:10,520 Speaker 1: The Stockmover's report from Bloomberg Radio. Check back with us 82 00:04:10,520 --> 00:04:13,320 Speaker 1: throughout the day for the latest roundup of companies making 83 00:04:13,400 --> 00:04:17,040 Speaker 1: news on Wall Street and for the latest market moving headlines. 84 00:04:17,240 --> 00:04:21,240 Speaker 1: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 85 00:04:21,279 --> 00:04:24,359 Speaker 1: dot com, and on Applecarplay and Android Auto with the 86 00:04:24,400 --> 00:04:25,760 Speaker 1: Bloomberg Business app.