WEBVTT - Alphabet Jumps; Meta and Microsoft Slide; Chipotle Dives

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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 1>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Nathan Hager, joined by Bloomberg's Credit Gupta on a

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<v Speaker 2>very busy earnings morning after a very busy earnings afternoon.

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<v Speaker 1>Good morning Critty, Good morning Nathan. We got to start

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<v Speaker 1>off with the tech earnings.

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<v Speaker 3>Here we are in the kind of the heat of it,

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<v Speaker 3>the eye of the storm, if you will. The biggest

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<v Speaker 3>moves to the upside are coming from the likes of Alphabet.

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<v Speaker 1>You got to keep a eye on those Class C shares.

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<v Speaker 3>Goog is your ticker, treating out two hundred and ninety

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<v Speaker 3>five dollars share higher by about seven point three percent

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<v Speaker 3>this morning. Alphabet coming in with a very strong beat

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<v Speaker 3>on their cloud unit, and.

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<v Speaker 1>This is a very big deal.

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<v Speaker 3>They are the number three player in a market that

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<v Speaker 3>is very much domuminated by Microsoft's Asia business and Amazon

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<v Speaker 3>Web services. So the fact that Alphabet is not only

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<v Speaker 3>growing but gaining markets is kind of a double win.

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<v Speaker 3>So the market really applauding that this morning two ninety

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<v Speaker 3>five is where we are goog Hire by seven percent.

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<v Speaker 1>It is not all well though.

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<v Speaker 3>In the tech sector you are seeing some major moves

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<v Speaker 3>to the downside. Meta, for example, was the big loser

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<v Speaker 3>this morning. Investors are getting a little worried about that spend.

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<v Speaker 3>We've been here before. We've seen Meta go all in

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<v Speaker 3>on the likes of the metaverse and weren't fully able

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<v Speaker 3>to execute it. There are worries now that we're seeing

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<v Speaker 3>the same thing happen when it comes to their posturing

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<v Speaker 3>around AI. M Eta is your ticker six hundred and

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<v Speaker 3>eighty nine dollars a share, down about eight point three

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<v Speaker 3>percent and dropping as we speak. Things not looking good

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<v Speaker 3>there either. Also seeing some weakness this morning in Microsoft

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<v Speaker 3>shares MSFT is your ticker five hundred and twenty nine

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<v Speaker 3>dollars a share, down a just shy of three percent.

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<v Speaker 3>It looks like they came out some pretty good numbers,

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<v Speaker 3>but this is what happens when you have an A

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<v Speaker 3>plus plus student. It looks like they just didn't deliver

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<v Speaker 3>to the same extent that the street wanted to. So

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<v Speaker 3>this morning down about two point three percent five twenty

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<v Speaker 3>nine for MSFT.

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<v Speaker 1>I want to take a step away.

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<v Speaker 3>From the tech space because we are seeing quite a

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<v Speaker 3>bit of earnings also weakness when it comes to those

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<v Speaker 3>consumer names. So Chipotle is the one that's really getting

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<v Speaker 3>beat this morning. They had their earnings after the bell yesterday,

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<v Speaker 3>thirty two dollars a share for CMG. It looks like

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<v Speaker 3>down get this, almost nineteen percent. They're really worried about

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<v Speaker 3>getting their consumer in cutting their outlook for the third

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<v Speaker 3>time this year, really talking about the pinch and the

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<v Speaker 3>disposable income that a lot of Americans are facing. A

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<v Speaker 3>different conversation when it comes to Starbucks SBUX. Is your

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<v Speaker 3>ticker down about three percent trading just I have eighty

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<v Speaker 3>two dollars a share.

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<v Speaker 1>They've come back to the growth picture.

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<v Speaker 3>They're saying strong international sales are helping push that market

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<v Speaker 3>up and push those their bottom line higher. But that

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<v Speaker 3>being said, it looks like there is still some weakness

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<v Speaker 3>baked into those shares. So keep an eye on the

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<v Speaker 3>consumer names Chipotle, Starbucks as well. Just because I'm on

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<v Speaker 3>a roll with the with the downers here where it

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<v Speaker 3>came out with their earnings this morning. M RK is

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<v Speaker 3>your ticker chairs down three percent this morning? Eighty three

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<v Speaker 3>dollars in change. They beat those revenue expectations, but they

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<v Speaker 3>are pushing towards a new pivot when it comes to

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<v Speaker 3>some of the new drugs in their portfolio, but the

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<v Speaker 3>market not necessarily liking what they see. Nathan, I'm gonna

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<v Speaker 3>end with some positivity if I can here Eli Lilly shares.

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<v Speaker 1>They're excited about their new products.

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<v Speaker 3>Hire by five and a half percent, Lly, boosting the

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<v Speaker 3>revenue forecast and beating their s.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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