1 00:00:02,520 --> 00:00:07,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,040 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:16,320 --> 00:00:17,680 Speaker 3: Let's take a look at some of the stocks on 5 00:00:17,720 --> 00:00:20,560 Speaker 3: the move today on Paul Sweeney alongside Alex Evanova, and 6 00:00:20,560 --> 00:00:22,759 Speaker 3: we're joined by bloombergs That needs a so COVID he 7 00:00:22,840 --> 00:00:23,600 Speaker 3: needs what are you looking at? 8 00:00:24,760 --> 00:00:27,560 Speaker 4: New day, new video deal. In Video is investing two 9 00:00:27,600 --> 00:00:32,559 Speaker 4: billion to Chip to design software maker Synopsis. Synopsis is 10 00:00:32,640 --> 00:00:34,960 Speaker 4: up on the news. It's about five percent the decories 11 00:00:35,400 --> 00:00:38,720 Speaker 4: s MPC and Video is holding on some small game. 12 00:00:38,760 --> 00:00:41,040 Speaker 4: But we actually in earlier trading the stock was down, 13 00:00:41,520 --> 00:00:44,839 Speaker 4: so the Video stake represents about two point six percent 14 00:00:44,920 --> 00:00:48,760 Speaker 4: of synopsis outstanding shares. Synopsis is one of the largest 15 00:00:48,760 --> 00:00:53,080 Speaker 4: providers of software and services used to design electronic components. 16 00:00:53,479 --> 00:00:57,920 Speaker 4: The new partnership involves integrating in Video two into Synopsis. 17 00:00:58,000 --> 00:01:02,000 Speaker 4: Chip Design Applications has been striking so many deals, and 18 00:01:02,160 --> 00:01:04,880 Speaker 4: some of them are with data center providers like coreweve 19 00:01:05,000 --> 00:01:08,520 Speaker 4: some of them are even with competitors like Intel. They 20 00:01:08,520 --> 00:01:11,880 Speaker 4: invested five billion recently and investors have been a little 21 00:01:11,880 --> 00:01:14,160 Speaker 4: bit more jittery about it. The stock creach is high 22 00:01:14,240 --> 00:01:16,680 Speaker 4: in October and since then it's been a pretty votile 23 00:01:17,640 --> 00:01:19,840 Speaker 4: time for in video. The stock is still obviously up 24 00:01:19,959 --> 00:01:23,200 Speaker 4: thirty percent here today, but we saw earlier in earlier 25 00:01:23,200 --> 00:01:27,800 Speaker 4: trading that investors weren't necessarily very excited about this initially. 26 00:01:28,080 --> 00:01:31,160 Speaker 4: Now obviously we're seeing some gains, but everyone is worried 27 00:01:31,160 --> 00:01:32,240 Speaker 4: about those deals. 28 00:01:32,000 --> 00:01:34,600 Speaker 1: And the price tacts, the needs and Paul, I feel 29 00:01:34,600 --> 00:01:37,319 Speaker 1: like every other day we're getting a new open Ai partnership. 30 00:01:37,360 --> 00:01:39,399 Speaker 1: I know there's another deal on your radar, and it's 31 00:01:39,600 --> 00:01:40,520 Speaker 1: what is that all about? 32 00:01:40,760 --> 00:01:44,920 Speaker 4: Yeah, more deals. Accenture shares are climbing more than two percent. 33 00:01:45,240 --> 00:01:49,320 Speaker 4: They're announcing a collaboration with open Ai. It's very interesting. 34 00:01:49,360 --> 00:01:52,080 Speaker 4: That's an old school consultancy, but I also want to 35 00:01:52,120 --> 00:01:55,360 Speaker 4: be part of the AI craze. They're equipping tens of 36 00:01:55,440 --> 00:01:59,280 Speaker 4: thousands of its professionals with chat Jept Enterprise, so it's 37 00:01:59,320 --> 00:02:02,520 Speaker 4: an interesting thing. They've been rebranding. They started calling it's 38 00:02:02,640 --> 00:02:08,600 Speaker 4: eight hundred thousand employees reinventors, reinvent reinventors. Yeah, so there 39 00:02:08,639 --> 00:02:13,240 Speaker 4: has been a big reorganization in June, and you know 40 00:02:13,440 --> 00:02:16,000 Speaker 4: it's coming off not too great of a time. The 41 00:02:16,000 --> 00:02:18,840 Speaker 4: company is down twenty seven percent here today, so perhaps 42 00:02:18,840 --> 00:02:21,960 Speaker 4: they're looking for a new branding and the whole CHEDGTAI 43 00:02:22,080 --> 00:02:25,000 Speaker 4: push is really big part of it. They've warned that 44 00:02:25,160 --> 00:02:27,800 Speaker 4: more staff would be asked to leave if they could 45 00:02:27,840 --> 00:02:29,760 Speaker 4: not be retrained for the age of AI. 46 00:02:30,720 --> 00:02:34,720 Speaker 3: You know, I mean, I've been told that some of 47 00:02:34,760 --> 00:02:38,640 Speaker 3: these technology consultants really under pressure because the budgets, the 48 00:02:39,040 --> 00:02:41,560 Speaker 3: tech budgets are going more toward the hardware for sure, 49 00:02:41,600 --> 00:02:46,120 Speaker 3: the AI they away from some of the software or 50 00:02:46,160 --> 00:02:49,359 Speaker 3: just other types of spend, including paying for an assential 51 00:02:49,520 --> 00:02:50,639 Speaker 3: consultant to tell you what to. 52 00:02:50,639 --> 00:02:53,160 Speaker 1: Do right, and here you have open AI just kind 53 00:02:53,200 --> 00:02:54,920 Speaker 1: of helping that problem out here. 54 00:02:55,400 --> 00:02:57,960 Speaker 4: Yeah, it's expensive, it's a. 55 00:02:58,960 --> 00:03:01,120 Speaker 3: It's always been. When time tough. The consultants are one 56 00:03:01,120 --> 00:03:03,480 Speaker 3: of the areas you can definitely pull back on for sure, 57 00:03:03,600 --> 00:03:05,679 Speaker 3: for sure, as well as advertising. Having been in the 58 00:03:05,680 --> 00:03:09,360 Speaker 3: advertising business in my career, that's another discretionary expenditure that 59 00:03:09,400 --> 00:03:12,880 Speaker 3: gets But you can't cut your AI spending on. 60 00:03:12,880 --> 00:03:14,560 Speaker 4: Hardware and solved not in those times. 61 00:03:14,600 --> 00:03:16,280 Speaker 3: So all right, what else you got? 62 00:03:16,520 --> 00:03:20,120 Speaker 4: Cryptocurrency we're talking about things that are maybe over priced. 63 00:03:20,960 --> 00:03:25,200 Speaker 4: Cryptocurrencies are sleeping on Monday and some of the companies. 64 00:03:25,240 --> 00:03:27,080 Speaker 4: It's very interesting because this year a lot of the 65 00:03:27,120 --> 00:03:30,280 Speaker 4: companies were actually getting bigger gains than crypto, so people 66 00:03:30,600 --> 00:03:33,480 Speaker 4: were happy to pay premium to get exposure to those companies. 67 00:03:33,680 --> 00:03:36,440 Speaker 4: Some of those names were coin based Strategy and those 68 00:03:36,520 --> 00:03:39,680 Speaker 4: never actually down a lot. Today coinbas is down about 69 00:03:39,720 --> 00:03:42,680 Speaker 4: three percent, MicroStrategy is down about seven percent. The deckory 70 00:03:42,720 --> 00:03:45,120 Speaker 4: is MSTR and of course the coin based sicker is 71 00:03:45,160 --> 00:03:48,920 Speaker 4: c i N. But it's coming off the price of 72 00:03:49,000 --> 00:03:51,360 Speaker 4: bitcoin dropping. But we actually see some news from China. 73 00:03:51,400 --> 00:03:55,600 Speaker 4: The latest drop comes after China Center Backscent on Saturday 74 00:03:55,600 --> 00:03:58,640 Speaker 4: that the risk of speculation in hypes surrounding virtual currencies 75 00:03:58,960 --> 00:04:04,440 Speaker 4: has resurface. Obviously, sentiment has been very fragile, but those 76 00:04:04,440 --> 00:04:07,720 Speaker 4: two companies we're looking at, MicroStrategy and coinbase. Micro Strategy 77 00:04:07,760 --> 00:04:10,720 Speaker 4: is now forty percent year today. People were happy to 78 00:04:10,720 --> 00:04:13,960 Speaker 4: pay crazy premium for that company and now things are 79 00:04:14,080 --> 00:04:18,800 Speaker 4: pretty fragile. And actually their CEO of Bitcoin Treasury Company 80 00:04:18,920 --> 00:04:22,040 Speaker 4: said on a podcast that the firm could sell bitcoin. 81 00:04:22,279 --> 00:04:25,040 Speaker 4: Obviously they've been buying and buying and buying, but if 82 00:04:25,080 --> 00:04:29,960 Speaker 4: there enough starts to decline at some point they will. 83 00:04:29,760 --> 00:04:35,320 Speaker 2: Sell the Stock Movers report from Bloomberg Radio. Check back 84 00:04:35,360 --> 00:04:37,560 Speaker 2: with us throughout the day for the latest roundup of 85 00:04:37,640 --> 00:04:40,919 Speaker 2: companies making news on Wall Street and for the latest 86 00:04:40,960 --> 00:04:45,160 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 87 00:04:45,200 --> 00:04:48,919 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 88 00:04:48,960 --> 00:04:50,960 Speaker 2: Auto with the Bloomberg Business app.