Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today on Paul Sweeney alongside Alex Evanova, and
Speaker 3: we're joined by bloombergs That needs a so COVID he
Speaker 3: needs what are you looking at?
Speaker 4: New day, new video deal. In Video is investing two
Speaker 4: billion to Chip to design software maker Synopsis. Synopsis is
Speaker 4: up on the news. It's about five percent the decories
Speaker 4: s MPC and Video is holding on some small game.
Speaker 4: But we actually in earlier trading the stock was down,
Speaker 4: so the Video stake represents about two point six percent
Speaker 4: of synopsis outstanding shares. Synopsis is one of the largest
Speaker 4: providers of software and services used to design electronic components.
Speaker 4: The new partnership involves integrating in Video two into Synopsis.
Speaker 4: Chip Design Applications has been striking so many deals, and
Speaker 4: some of them are with data center providers like coreweve
Speaker 4: some of them are even with competitors like Intel. They
Speaker 4: invested five billion recently and investors have been a little
Speaker 4: bit more jittery about it. The stock creach is high
Speaker 4: in October and since then it's been a pretty votile
Speaker 4: time for in video. The stock is still obviously up
Speaker 4: thirty percent here today, but we saw earlier in earlier
Speaker 4: trading that investors weren't necessarily very excited about this initially.
Speaker 4: Now obviously we're seeing some gains, but everyone is worried
Speaker 4: about those deals.
Speaker 1: And the price tacts, the needs and Paul, I feel
Speaker 1: like every other day we're getting a new open Ai partnership.
Speaker 1: I know there's another deal on your radar, and it's
Speaker 1: what is that all about?
Speaker 4: Yeah, more deals. Accenture shares are climbing more than two percent.
Speaker 4: They're announcing a collaboration with open Ai. It's very interesting.
Speaker 4: That's an old school consultancy, but I also want to
Speaker 4: be part of the AI craze. They're equipping tens of
Speaker 4: thousands of its professionals with chat Jept Enterprise, so it's
Speaker 4: an interesting thing. They've been rebranding. They started calling it's
Speaker 4: eight hundred thousand employees reinventors, reinvent reinventors. Yeah, so there
Speaker 4: has been a big reorganization in June, and you know
Speaker 4: it's coming off not too great of a time. The
Speaker 4: company is down twenty seven percent here today, so perhaps
Speaker 4: they're looking for a new branding and the whole CHEDGTAI
Speaker 4: push is really big part of it. They've warned that
Speaker 4: more staff would be asked to leave if they could
Speaker 4: not be retrained for the age of AI.
Speaker 3: You know, I mean, I've been told that some of
Speaker 3: these technology consultants really under pressure because the budgets, the
Speaker 3: tech budgets are going more toward the hardware for sure,
Speaker 3: the AI they away from some of the software or
Speaker 3: just other types of spend, including paying for an assential
Speaker 3: consultant to tell you what to.
Speaker 1: Do right, and here you have open AI just kind
Speaker 1: of helping that problem out here.
Speaker 4: Yeah, it's expensive, it's a.
Speaker 3: It's always been. When time tough. The consultants are one
Speaker 3: of the areas you can definitely pull back on for sure,
Speaker 3: for sure, as well as advertising. Having been in the
Speaker 3: advertising business in my career, that's another discretionary expenditure that
Speaker 3: gets But you can't cut your AI spending on.
Speaker 4: Hardware and solved not in those times.
Speaker 3: So all right, what else you got?
Speaker 4: Cryptocurrency we're talking about things that are maybe over priced.
Speaker 4: Cryptocurrencies are sleeping on Monday and some of the companies.
Speaker 4: It's very interesting because this year a lot of the
Speaker 4: companies were actually getting bigger gains than crypto, so people
Speaker 4: were happy to pay premium to get exposure to those companies.
Speaker 4: Some of those names were coin based Strategy and those
Speaker 4: never actually down a lot. Today coinbas is down about
Speaker 4: three percent, MicroStrategy is down about seven percent. The deckory
Speaker 4: is MSTR and of course the coin based sicker is
Speaker 4: c i N. But it's coming off the price of
Speaker 4: bitcoin dropping. But we actually see some news from China.
Speaker 4: The latest drop comes after China Center Backscent on Saturday
Speaker 4: that the risk of speculation in hypes surrounding virtual currencies
Speaker 4: has resurface. Obviously, sentiment has been very fragile, but those
Speaker 4: two companies we're looking at, MicroStrategy and coinbase. Micro Strategy
Speaker 4: is now forty percent year today. People were happy to
Speaker 4: pay crazy premium for that company and now things are
Speaker 4: pretty fragile. And actually their CEO of Bitcoin Treasury Company
Speaker 4: said on a podcast that the firm could sell bitcoin.
Speaker 4: Obviously they've been buying and buying and buying, but if
Speaker 4: there enough starts to decline at some point they will.
Speaker 2: Sell the Stock Movers report from Bloomberg Radio. Check back
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