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Speaker 1: Bloomberg Audio Studios podcasts, radio News, The.

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Speaker 2: Stock Movers podcast, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data on

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Speaker 2: Jim Stenebeg.

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Speaker 3: Along with Emily Grafail. Let's take a look at some

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Speaker 3: stocks on the move today with us as Bloomberg News

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Speaker 3: Equities reporter Alexandra Samonova. Alex no shortage of stocks making

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Speaker 3: big moves. What's on your radar?

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Speaker 1: Hey, guys, we have to start with Tesla. That stock

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Speaker 1: down about seven percent right now. This is after Elon

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Speaker 1: Musk said that he is creating a new political party.

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Speaker 1: He is calling it the America Party, and we'll focus

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Speaker 1: on House and Senate seats for the next twelve months.

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Speaker 1: And needless to say, Tesla investors are not happy about this,

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Speaker 1: once again him digressing his attention away from the company

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Speaker 1: and toward his political endeavors. Not only is the stock sliding,

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Speaker 1: but Musk's net worth actually dropped about seventeen billion dollars today.

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Speaker 1: This is according to the Bloomberg Billionaires Index. And if

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Speaker 1: this move hold, this will be the worst day for

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Speaker 1: test lessons that very public fight between Trump and Elon

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Speaker 1: Musk over the tax beell. Obviously, Musk has emerged as

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Speaker 1: a big political spender in Leaster's election. That is something

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Speaker 1: that has made investors incredibly disappointed. He's not focusing on

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Speaker 1: the company. Dan Ives of Webbush Securities, who is of

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Speaker 1: course a very vocal Testla Bowl today on Bloomberg Television,

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Speaker 1: said that the board will have to get involved here

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Speaker 1: and that Elon Musk is crossing a line in the

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Speaker 1: sand here the board.

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Speaker 3: Though it's not that critics have alleged that the board

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Speaker 3: is not very independent. I mean his brother Kimball, I believe,

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Speaker 3: is on the Tesla board, for example. There are other allies,

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Speaker 3: and you know you haven't seen them necessarily speak out

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Speaker 3: over his political activity in the past when he was

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Speaker 3: so aligned with the president. Why would we hear from

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Speaker 3: them now?

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Speaker 1: Well, there is like we always talk about the Trump

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Speaker 1: put or the Fed put, there's somewhat of a Musk

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Speaker 1: put here too. When you have very vocal investors like

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Speaker 1: Dan Ives coming out and talking about how disappointed they

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Speaker 1: are by some of the actions he's taking, he eventually

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Speaker 1: retreats on that. We've seen that in the past. That

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Speaker 1: could happen again if the shares keep falling. Okay, what

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Speaker 1: else are you watching? Some big moves here, maybe a

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Speaker 1: name that wasn't as well known. Yeah, another company moving today,

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Speaker 1: Core Weave, the cloud computing company. It is dropping nine

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Speaker 1: billion dollars on the data center operator Core Scientific andk

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Speaker 1: This is part of an effort to gain more direct

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Speaker 1: control over the physical assets powering the AI boom. The

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Speaker 1: acquisition will give Corey access to one gigawatt of data

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Speaker 1: center capacity across the US. This of course will help

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Speaker 1: eliminate least expenses, reduce costs, and it's going to help

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Speaker 1: future proof its revenue growth. The deals expected to close

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Speaker 1: in the fourth quarter of this year, pending, of course,

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Speaker 1: all the regulatory approvals and cloud infrastructure providers more broadly

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Speaker 1: are rushing to construct data centers to keep up with

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Speaker 1: this incredible demands that we have an AI related work

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Speaker 1: that's been fueling a wave of different deals. We of course,

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Speaker 1: last week reported that Oracle and Open Ai shtop an

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Speaker 1: agreement for data center capacity. Core We've has seen its

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Speaker 1: stock price sore nearly three hundred percent since it's March IPO. Obviously,

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Speaker 1: this is a testament that there is no shortage of appetite.

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Speaker 3: For AI CRWV is a ticker for Core. We've Core,

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Speaker 3: we even core Scientific. Okay, finally, Netflix a company you're

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Speaker 3: watching today. What's going on?

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Speaker 1: Yeah, that stock is down just a bit about five

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Speaker 1: about point five sorry point five percent. Netflix got a

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Speaker 1: downgrade to neutral from Seaport Global Securities. They cite valuation

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Speaker 1: as a concern following really strong gads of course, from

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Speaker 1: its April low. It's up about fifty percent from that

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Speaker 1: the depths of the Tearff selloff. They said that plenty

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Speaker 1: of long term opportunity is already baked into valuations and

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Speaker 1: the company needs actual time to execute against very lofty

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Speaker 1: expectations from investors. They also said that it has not

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Speaker 1: grown its share in the US, and also the gap

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Speaker 1: between Netflix and YouTube tv has widened, so a lot

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Speaker 1: more people flocking to YouTube TV. Great, of course, comes

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Speaker 1: ahead of its earnings on July seventeenth, very high Stakes

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Speaker 1: earnings report. It is still up forty five percent on

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Speaker 1: the earth.

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Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us

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Speaker 2: throughout the day for the latest roundup of companies making

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Speaker 2: news on Wall Street and for the latest market moving headlines.

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