Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This stock Mover's Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Could Berkshire
Speaker 1: Hathaway still be on the move after earnings from Saturday?
Speaker 3: Good morning Dan, Good morning Nathan. It is on the move,
Speaker 3: but just a little bit. Shares of the Class B
Speaker 3: stock that's BRK slash B are up about three tenths
Speaker 3: of a percent in the pre market. And that says
Speaker 3: Greg Abel makes his mark. After taking over from Warren Buffett,
Speaker 3: the cash pile for the company dipped to three hundred
Speaker 3: and sixty five billion dollars from nearly four hundred billion dollars,
Speaker 3: and part of that was four and a half billion
Speaker 3: dollars in a buy back, and then the company also
Speaker 3: bought about twenty billion dollars in equity. That buyback was
Speaker 3: the largest quarterly payout since twenty twenty one. So what
Speaker 3: did they buy? Well, Alphabet was a big buy ten
Speaker 3: billion dollars in a private placement, and Alphabet became Berkshire's
Speaker 3: one of Berkshire's top ten holdings. Some other news coming out,
Speaker 3: and then of particular insurance which we look at very
Speaker 3: closely from Berkshire Hathway as they own a lot of
Speaker 3: insurance named Geico. That's the biggest contributor to Berksher's insurance results.
Speaker 3: Pre tax underwriting profits fell by forty five percent, so
Speaker 3: a bit of softness from their big insurance play.
Speaker 1: We're going to have more big tech earnings this week.
Speaker 1: We've already heard from Taiwan Semiconductor how they do.
Speaker 3: So it's been a very volatile space, the AI space,
Speaker 3: and then this morning is proving to be a bit flat.
Speaker 3: So the ADRs are up about one tenth of a percent.
Speaker 3: Undertaker TSM, and that's the chip maker for Nvidia and Apple.
Speaker 3: It reported a forty five percent rise in July sales.
Speaker 3: That's versus a year prior, so the street was looking
Speaker 3: for forty seven percent growth, so that was a little
Speaker 3: bit softer. So this stock up a tiny bit, but
Speaker 3: it's underperforming the broader AI trade, which is doing pretty
Speaker 3: well this morning off the back of a very strong
Speaker 3: last week. That comes. These results come after the company
Speaker 3: raised its full year spending and revenue projection for the year. Recently,
Speaker 3: they're seeing sixty to sixty four billion dollars in capital
Speaker 3: expenditure full year sales growth or projecting just above forty
Speaker 3: percent when measured in US dollars. So it's had a
Speaker 3: lot of positive momentum into this print. The monthly numbers
Speaker 3: came in a little bit soft, so it's just trailing
Speaker 3: some of its aipeers in the pre market now.
Speaker 1: The most actively traded stock in the pre market this
Speaker 1: morning dan is SpaceX. And to quote the Kinks, we're
Speaker 1: back where we started.
Speaker 3: Yeah, one hundred and thirty six dollars and a couple
Speaker 3: of cents above that for SPCX SpaceX. So it started
Speaker 3: at IPO at one thirty five. It's had a pretty
Speaker 3: big trip. It got up to well over two hundred,
Speaker 3: it went back down to about one oh five, and
Speaker 3: now we're settling in around where it started a few
Speaker 3: months ago at one thirty six sixty seven. And we're
Speaker 3: actually getting a pretty strong rally in the space space
Speaker 3: in the space itself pun intended. I'm keeping my eyes also,
Speaker 3: thank you. I'm keeping my eyes also on Rocket Lab RKLB.
Speaker 3: Those shares are up three percent, alongside SpaceX, which is
Speaker 3: up nearly three percent because rocket Lab has earnings out
Speaker 3: after the close today and estimates are for two hundred
Speaker 3: and thirty one million dollars in sales. That's sixty one
Speaker 3: percent growth from a year before and a loss of
Speaker 3: seven cents per share. The company is still growing, it's
Speaker 3: still not really posting profit yet, so that loss is expected.
Speaker 3: Wall Street will be listening for details. It has an
Speaker 3: eight billion dollars deal to buy a ridium that's going
Speaker 3: to compete with SpaceX's Starlingking system. That deal was announced
Speaker 3: recently and it's expected to close next year. And we're
Speaker 3: also listening for any updates on Neutron's maiden flight that
Speaker 3: remains targeted for the fourth quarter of twenty twenty six.
Speaker 3: It's a medium lift, partially reusable launch vehicle, so we're
Speaker 3: going to keep our eyes very closely on the space
Speaker 3: area today.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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