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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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

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

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Speaker 3: This is Charlie Pellock with a look at stocks on

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Speaker 3: the move with the Dow, the S and P, and

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Speaker 3: ZTAC all advancing today and joining US now. Cross Asset

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Speaker 3: reporter Emily Graffeo. Emily cannot ignore the move today in

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Speaker 3: shares of Alphabet Parrot of Google, the stock down seven

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Speaker 3: and a half percent. This on a day when stocks

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Speaker 3: were moving higher. What was going on with Alphabet?

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Speaker 1: That's right, Charlie. The trading volume was almost quadruple the

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Speaker 1: twenty day average in Google. It was the biggest drop

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Speaker 1: since February. And it's all stemming from a potential partnership

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Speaker 1: with Apple potentially eroding. So today an Apple exec said

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Speaker 1: that Apple is considering revamping Safari to focus on AI

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Speaker 1: powered search engine. So you know right now, if you're

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Speaker 1: an iPhone user you go and search something on Safari,

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Speaker 1: it's Google. Google is a search engine powering that. Today,

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Speaker 1: Eddie q, Apple Senior vice president of Services, set in

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Speaker 1: testimony in the US Justice Department's lawsuit against Alphabet that

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Speaker 1: they're considering revamping to Safari to again focus more on

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Speaker 1: AI and that would potentially again maybe erode this partnership

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Speaker 1: that they have. At the heart of this dispute is

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Speaker 1: the two companies estimated twenty billion dollars a year that

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Speaker 1: makes Google the default offering for search queries in Apple's browser.

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Speaker 1: And again, trading volume was super high when you look

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Speaker 1: at what the rest of the street has to say, though,

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Speaker 1: Baird said that for Google, they're not surprised by the

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Speaker 1: reaction to the headlines today, but most of what they

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Speaker 1: heard is information and risks that maybe the market should

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Speaker 1: already be fairly well understood, and that losing the Apple

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Speaker 1: contract would could still be net neutral for Alphabet without

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Speaker 1: the twenty billion in annual payments to Apple that directly

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Speaker 1: impact Google's margin.

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Speaker 3: All right, if we are talking about Alphabet, what about Apple?

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Speaker 3: How did it respond in today's trading?

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Speaker 1: So Apple was also down today, but not as much.

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Speaker 1: It closed down one percent. It has though been falling

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Speaker 1: for four straight days. If you look at what Google's

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Speaker 1: been doing, It's only been falling for the last two

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Speaker 1: but just a brutal day to be long, Google and.

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Speaker 3: Lots of earnings today. Among the companies reporting, the ride

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Speaker 3: sharing company Uber. The stock move lore what happened with

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Speaker 3: its results.

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Speaker 1: So Uber reported weaker than expected quarterly gross booking. So

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Speaker 1: gross bookings includes ride hanling, delivery orders through Uber Eats,

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Speaker 1: and then also driver and merchant earning, So that total

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Speaker 1: number was forty two point eight billion, and analyst project

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Speaker 1: did forty three billion. Revenue also landed below expectations, so

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Speaker 1: did operating income. Additionally, Uber cited lower US inbound travel

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Speaker 1: and that's why they've had these slower gains in their business.

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Speaker 1: This reminded me of what Airbnb said just last week

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Speaker 1: that fewer tourists have been coming into the US, and

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Speaker 1: so these businesses that in part rely on tourism from

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Speaker 1: outside the US are seeing some signs of slowing.

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Speaker 3: So Uber shares down today by two and a half percent.

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Speaker 3: They're based in San Francisco. The crosstown rival Lift also

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Speaker 3: declining today, down down by two point three percent. You

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Speaker 3: mentioned tourism is a major part of what was going

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Speaker 3: on with Uber's results. Cannot ignore the move today in

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Speaker 3: the Walt Disney Company out with earnings this morning, the

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Speaker 3: stock surged a big time today. We saw shares of

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Speaker 3: the Walt Disney Company up by ten point eight percent.

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Speaker 3: What has investors so excited?

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Speaker 1: Yeah, Charlie, So this is a little bit defying my

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Speaker 1: thesis that tourism is slowing, because at least for Disney,

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Speaker 1: they are okay. They said that they're benefiting from faster

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Speaker 1: than expected growth in the parks business, which of course

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Speaker 1: relies on tourists, but also the streaming business. Streaming seems

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Speaker 1: a little bit more immune to perhaps trade war headlines

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Speaker 1: and tariffs. But they boosted their guidance. So Walt Disney

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Speaker 1: reported fiscal second quarter results that beat estimates, and then

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Speaker 1: they also raised their full year twenty twenty five outlook.

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Speaker 1: They said that full year earnings will rise sixteen percent.

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Speaker 1: The reason why the Street was really focused on this

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Speaker 1: and perhaps so excited about it, is because we've seen

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Speaker 1: a lot of companies actually cutting their outlook or just

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Speaker 1: suspending guidance overall, citing uncertainty about tariffs. And yet here

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Speaker 1: we are. Disney came out and said we're not only

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Speaker 1: going to you know, bring this outlook, but we're also

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Speaker 1: going to up the previous forecast that we had for growth.

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Speaker 1: So Wall Street was really cheering that.

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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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