WEBVTT - Berkshire Reports; TSMC Rises: Verisk Slides

0:00:02.560 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.480
<v Speaker 2>This stock Mover's Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.920
<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

0:00:16.640 --> 0:00:18.600
<v Speaker 1>Let's take a look at some stocks on the move today.

0:00:18.640 --> 0:00:23.000
<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Could Berkshire

0:00:23.000 --> 0:00:26.520
<v Speaker 1>Hathaway still be on the move after earnings from Saturday?

0:00:26.560 --> 0:00:29.480
<v Speaker 3>Good morning Dan, Good morning Nathan. It is on the move,

0:00:29.520 --> 0:00:31.639
<v Speaker 3>but just a little bit. Shares of the Class B

0:00:31.800 --> 0:00:35.519
<v Speaker 3>stock that's BRK slash B are up about three tenths

0:00:35.560 --> 0:00:37.560
<v Speaker 3>of a percent in the pre market. And that says

0:00:37.640 --> 0:00:41.120
<v Speaker 3>Greg Abel makes his mark. After taking over from Warren Buffett,

0:00:41.280 --> 0:00:44.360
<v Speaker 3>the cash pile for the company dipped to three hundred

0:00:44.360 --> 0:00:47.320
<v Speaker 3>and sixty five billion dollars from nearly four hundred billion dollars,

0:00:47.560 --> 0:00:49.480
<v Speaker 3>and part of that was four and a half billion

0:00:49.520 --> 0:00:52.360
<v Speaker 3>dollars in a buy back, and then the company also

0:00:52.360 --> 0:00:55.680
<v Speaker 3>bought about twenty billion dollars in equity. That buyback was

0:00:55.680 --> 0:00:59.120
<v Speaker 3>the largest quarterly payout since twenty twenty one. So what

0:00:59.200 --> 0:01:01.880
<v Speaker 3>did they buy? Well, Alphabet was a big buy ten

0:01:01.920 --> 0:01:05.679
<v Speaker 3>billion dollars in a private placement, and Alphabet became Berkshire's

0:01:06.000 --> 0:01:09.679
<v Speaker 3>one of Berkshire's top ten holdings. Some other news coming out,

0:01:09.720 --> 0:01:12.720
<v Speaker 3>and then of particular insurance which we look at very

0:01:12.720 --> 0:01:14.520
<v Speaker 3>closely from Berkshire Hathway as they own a lot of

0:01:14.520 --> 0:01:18.360
<v Speaker 3>insurance named Geico. That's the biggest contributor to Berksher's insurance results.

0:01:18.480 --> 0:01:21.360
<v Speaker 3>Pre tax underwriting profits fell by forty five percent, so

0:01:21.400 --> 0:01:24.200
<v Speaker 3>a bit of softness from their big insurance play.

0:01:24.480 --> 0:01:26.720
<v Speaker 1>We're going to have more big tech earnings this week.

0:01:26.760 --> 0:01:30.480
<v Speaker 1>We've already heard from Taiwan Semiconductor how they do.

0:01:30.680 --> 0:01:33.240
<v Speaker 3>So it's been a very volatile space, the AI space,

0:01:33.280 --> 0:01:35.080
<v Speaker 3>and then this morning is proving to be a bit flat.

0:01:35.120 --> 0:01:37.839
<v Speaker 3>So the ADRs are up about one tenth of a percent.

0:01:37.920 --> 0:01:41.560
<v Speaker 3>Undertaker TSM, and that's the chip maker for Nvidia and Apple.

0:01:41.600 --> 0:01:44.479
<v Speaker 3>It reported a forty five percent rise in July sales.

0:01:44.560 --> 0:01:47.559
<v Speaker 3>That's versus a year prior, so the street was looking

0:01:47.600 --> 0:01:49.880
<v Speaker 3>for forty seven percent growth, so that was a little

0:01:49.880 --> 0:01:52.080
<v Speaker 3>bit softer. So this stock up a tiny bit, but

0:01:52.080 --> 0:01:55.120
<v Speaker 3>it's underperforming the broader AI trade, which is doing pretty

0:01:55.120 --> 0:01:57.720
<v Speaker 3>well this morning off the back of a very strong

0:01:58.240 --> 0:02:01.280
<v Speaker 3>last week. That comes. These results come after the company

0:02:01.360 --> 0:02:05.560
<v Speaker 3>raised its full year spending and revenue projection for the year. Recently,

0:02:05.840 --> 0:02:08.320
<v Speaker 3>they're seeing sixty to sixty four billion dollars in capital

0:02:08.360 --> 0:02:11.600
<v Speaker 3>expenditure full year sales growth or projecting just above forty

0:02:11.600 --> 0:02:13.960
<v Speaker 3>percent when measured in US dollars. So it's had a

0:02:13.960 --> 0:02:18.359
<v Speaker 3>lot of positive momentum into this print. The monthly numbers

0:02:18.400 --> 0:02:20.040
<v Speaker 3>came in a little bit soft, so it's just trailing

0:02:20.120 --> 0:02:22.040
<v Speaker 3>some of its aipeers in the pre market now.

0:02:22.080 --> 0:02:24.400
<v Speaker 1>The most actively traded stock in the pre market this

0:02:24.480 --> 0:02:28.000
<v Speaker 1>morning dan is SpaceX. And to quote the Kinks, we're

0:02:28.200 --> 0:02:29.200
<v Speaker 1>back where we started.

0:02:29.280 --> 0:02:32.320
<v Speaker 3>Yeah, one hundred and thirty six dollars and a couple

0:02:32.320 --> 0:02:36.560
<v Speaker 3>of cents above that for SPCX SpaceX. So it started

0:02:36.600 --> 0:02:38.640
<v Speaker 3>at IPO at one thirty five. It's had a pretty

0:02:38.639 --> 0:02:40.960
<v Speaker 3>big trip. It got up to well over two hundred,

0:02:41.040 --> 0:02:43.360
<v Speaker 3>it went back down to about one oh five, and

0:02:43.400 --> 0:02:45.919
<v Speaker 3>now we're settling in around where it started a few

0:02:45.919 --> 0:02:48.320
<v Speaker 3>months ago at one thirty six sixty seven. And we're

0:02:48.360 --> 0:02:50.919
<v Speaker 3>actually getting a pretty strong rally in the space space

0:02:50.960 --> 0:02:55.000
<v Speaker 3>in the space itself pun intended. I'm keeping my eyes also,

0:02:55.120 --> 0:02:58.360
<v Speaker 3>thank you. I'm keeping my eyes also on Rocket Lab RKLB.

0:02:58.520 --> 0:03:01.519
<v Speaker 3>Those shares are up three percent, alongside SpaceX, which is

0:03:01.600 --> 0:03:04.440
<v Speaker 3>up nearly three percent because rocket Lab has earnings out

0:03:04.480 --> 0:03:06.880
<v Speaker 3>after the close today and estimates are for two hundred

0:03:06.880 --> 0:03:09.120
<v Speaker 3>and thirty one million dollars in sales. That's sixty one

0:03:09.160 --> 0:03:11.960
<v Speaker 3>percent growth from a year before and a loss of

0:03:12.040 --> 0:03:14.560
<v Speaker 3>seven cents per share. The company is still growing, it's

0:03:14.560 --> 0:03:18.040
<v Speaker 3>still not really posting profit yet, so that loss is expected.

0:03:18.240 --> 0:03:20.400
<v Speaker 3>Wall Street will be listening for details. It has an

0:03:20.400 --> 0:03:23.160
<v Speaker 3>eight billion dollars deal to buy a ridium that's going

0:03:23.200 --> 0:03:27.239
<v Speaker 3>to compete with SpaceX's Starlingking system. That deal was announced

0:03:27.720 --> 0:03:30.399
<v Speaker 3>recently and it's expected to close next year. And we're

0:03:30.440 --> 0:03:33.760
<v Speaker 3>also listening for any updates on Neutron's maiden flight that

0:03:33.800 --> 0:03:36.080
<v Speaker 3>remains targeted for the fourth quarter of twenty twenty six.

0:03:36.240 --> 0:03:39.880
<v Speaker 3>It's a medium lift, partially reusable launch vehicle, so we're

0:03:39.880 --> 0:03:41.840
<v Speaker 3>going to keep our eyes very closely on the space

0:03:42.040 --> 0:03:42.680
<v Speaker 3>area today.

0:03:43.960 --> 0:03:48.000
<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

0:03:48.080 --> 0:03:50.640
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:50.720 --> 0:03:53.800
<v Speaker 2>making news on Wall Street and for the latest market

0:03:53.840 --> 0:03:58.280
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:58.400 --> 0:04:01.760
<v Speaker 2>Bloomberg dot com, and on Apple CarPlay and Android Auto

0:04:01.840 --> 0:04:03.440
<v Speaker 2>with the Bloomberg Business App.