Speaker 1: Bloomberg Audio Studios. Podcasts.
Speaker 2: Radio.
Speaker 3: 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: I'm Tim Stenevek, along with Lisa Mateo. Let's take a
Speaker 3: look at some stocks on the move today. We are
Speaker 3: joined by Bloomberg News Senior Equities Reporter, Bailey Lipschultz.
Speaker 1: Hey, Bailey. What's going on, Tim? Not much, just JT.
Speaker 3: We're having fun. It's like, you know, it's an NVIDIA
Speaker 3: kind of trade. It's a tech trade. A lot of
Speaker 3: cloud or software as a service companies, I should say,
Speaker 3: moving today. We're thinking about Jackson Hole tomorrow. What about you?
Speaker 1: Yeah, all things NVIDIA. Yeah, okay, let's go there. Ticker
Speaker 1: NVDA up 8.7%. Okay, so best day since April. The
Speaker 1: thing that blows my mind, if I round up ever
Speaker 1: so slightly, the company added a Palantir to its market
Speaker 1: cap today.
Speaker 3: I love that you went there.
Speaker 1: One day, $ 445 billion in market cap added. mind-blowing, because
Speaker 1: they projected sales growth for next fiscal year of 70%.
Speaker 1: So we're already talking about massive numbers. The average annual
Speaker 1: assessments were for 45%. So it's just kind of mind-numbing
Speaker 1: to look at a company that added $ 440 billion in
Speaker 1: market cap is back around $ 5. 5 trillion in market cap,
Speaker 1: crushing expectations. And it just kind of is difficult for
Speaker 1: the sell side to really model what the future could
Speaker 1: look like. And that's, again, we're talking about, yes, there
Speaker 1: are AI risks. Yes, this is a company that's very
Speaker 1: much financing companies that it's investing in, its own partners.
Speaker 1: So circular financing concerns. But that aside, if you look
Speaker 1: at today's print, it really did seem to kind of
Speaker 1: cast a shadow, a bit of a shadow on this
Speaker 1: uncertainty that were in the midst of a bubble.
Speaker 3: Well, I'm using our Ask B Bloomberg AI right now.
Speaker 3: And what I asked it to do was to give
Speaker 3: me a list of market cap of components of the
Speaker 3: S & P 500, Bailey, because you said this is
Speaker 3: an entire Palantir. So I was like, how many stocks
Speaker 3: are actually bigger than the market cap that NVIDIA added today?
Speaker 3: You only have to go down 26 places. Well, actually
Speaker 3: even fewer than that.
Speaker 1: Does that even count double alphabet probably?
Speaker 3: Probably. I don't even know if it covers double alphabet.
Speaker 3: But like Costco, $ 414 billion. Lamb Research, $ 400 billion. That's like,
Speaker 3: you know, 475 stocks in the S & P 500
Speaker 3: basically are smaller than the amount of money that NVIDIA
Speaker 3: added today.
Speaker 1: And you look at it using the MOV function on
Speaker 1: the terminal. NVIDIA was worth 52 points on the S &
Speaker 1: P 500. Wow. That's just crazy. Amazon was down one
Speaker 1: and a half percent. That's four. That's like less than 10%
Speaker 1: to the downside on Amazon. Just mind numbing. You got
Speaker 1: to teach me how you did that later.
Speaker 3: Okay. Listen, ask B. It is like the AI worth having.
Speaker 3: It's in the terminal. Ask B and you just talk
Speaker 3: to it. And sometimes I talk to it.
Speaker 1: Yeah, I'm sure you do.
Speaker 3: We're talking to Bailey Lipschultz and he's also looking at Autodesk.
Speaker 3: What's going on with Autodesk?
Speaker 1: Autodesk ticker ADSK right now down almost 7% post-market. This
Speaker 1: came after adjusted EPS for the third quarter. Missed expectations,
Speaker 1: really kind of digging into some of these numbers. Some
Speaker 1: good and a lot that's not too great. Overall, full
Speaker 1: year forecast, revenue forecast beating expectations, but it does seem
Speaker 1: like it's going to be a choppy second half. Just
Speaker 1: got to keep in mind, though, this is a company
Speaker 1: that closed at the highest level since January. We've seen
Speaker 1: the entire ecosystem really rallying from those June bottoms. So headline,
Speaker 1: not great when your third quarter forecasts are weaker than
Speaker 1: what Wall Street was looking for. But this does seem
Speaker 1: like we're kind of working through maybe the dog days
Speaker 1: of summer with some of these late reporters.
Speaker 3: All right.
Speaker 1: You also have Wendy's not doing well. It's not because
Speaker 1: of the Baconator. I'll tell you that much. I've never
Speaker 1: tried it just to put it out there. But yeah,
Speaker 1: there's some big news behind Wendy's. Wendy's.
Speaker 2: Yeah.
Speaker 1: Wendy's or Workday. Workday 2. Oh, Workday 2. I mean,
Speaker 1: I can riff on Wendy's. I don't actually know what's
Speaker 1: going on.
Speaker 3: Lisa's just particular because she chose Wendy's as one of
Speaker 3: her movers today. I didn't get to talk about it.
Speaker 1: We can talk about not trying to pursue a bid
Speaker 1: or Workday, which is rumored to potentially be a target
Speaker 1: for Silver Lake. So there's similarities there.
Speaker 2: Yes, beautiful. Do it, Bailey.
Speaker 1: Workday took a WDAY down almost 8%. Lukewarm results is
Speaker 1: what Brody Ford is calling it. Subscription revenue backlog below
Speaker 1: what Wall Street was looking for. And again, this is
Speaker 1: a kind of market where we're seeing pockets of software rallying.
Speaker 1: So opposite of a cyber.
Speaker 3: Yeah, you mentioned the Silver Lake News from at this
Speaker 3: point a few weeks ago, a few months ago. I
Speaker 3: don't even know. That was like a blessing to Workday.
Speaker 3: That's what Brody described to us a little earlier today
Speaker 3: ahead of these numbers. But many people were like, wait
Speaker 3: a second, are we going to see a report like
Speaker 3: we got from Salesforce yesterday for Workday? Not necessarily seeing
Speaker 3: that today.
Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
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Speaker 2: making news on Wall Street. And for the latest market-moving headlines,
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