WEBVTT - Nvidia Rallies, Autodesk Falls, Workday Dips

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<v Speaker 1>Bloomberg Audio Studios. Podcasts.

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<v Speaker 2>Radio.

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<v Speaker 3>News.

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<v Speaker 2>The Stock Movers Report. Your roundup of companies making moves

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg data.

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<v Speaker 3>I'm Tim Stenevek, along with Lisa Mateo. Let's take a

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<v Speaker 3>look at some stocks on the move today. We are

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<v Speaker 3>joined by Bloomberg News Senior Equities Reporter, Bailey Lipschultz.

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<v Speaker 1>Hey, Bailey. What's going on, Tim? Not much, just JT.

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<v Speaker 3>We're having fun. It's like, you know, it's an NVIDIA

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<v Speaker 3>kind of trade. It's a tech trade. A lot of

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<v Speaker 3>cloud or software as a service companies, I should say,

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<v Speaker 3>moving today. We're thinking about Jackson Hole tomorrow. What about you?

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<v Speaker 1>Yeah, all things NVIDIA. Yeah, okay, let's go there. Ticker

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<v Speaker 1>NVDA up 8.7%. Okay, so best day since April. The

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<v Speaker 1>thing that blows my mind, if I round up ever

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<v Speaker 1>so slightly, the company added a Palantir to its market

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<v Speaker 1>cap today.

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<v Speaker 3>I love that you went there.

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<v Speaker 1>One day, $ 445 billion in market cap added. mind-blowing, because

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<v Speaker 1>they projected sales growth for next fiscal year of 70%.

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<v Speaker 1>So we're already talking about massive numbers. The average annual

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<v Speaker 1>assessments were for 45%. So it's just kind of mind-numbing

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<v Speaker 1>to look at a company that added $ 440 billion in

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<v Speaker 1>market cap is back around $ 5. 5 trillion in market cap,

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<v Speaker 1>crushing expectations. And it just kind of is difficult for

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<v Speaker 1>the sell side to really model what the future could

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<v Speaker 1>look like. And that's, again, we're talking about, yes, there

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<v Speaker 1>are AI risks. Yes, this is a company that's very

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<v Speaker 1>much financing companies that it's investing in, its own partners.

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<v Speaker 1>So circular financing concerns. But that aside, if you look

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<v Speaker 1>at today's print, it really did seem to kind of

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<v Speaker 1>cast a shadow, a bit of a shadow on this

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<v Speaker 1>uncertainty that were in the midst of a bubble.

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<v Speaker 3>Well, I'm using our Ask B Bloomberg AI right now.

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<v Speaker 3>And what I asked it to do was to give

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<v Speaker 3>me a list of market cap of components of the

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<v Speaker 3>S &amp; P 500, Bailey, because you said this is

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<v Speaker 3>an entire Palantir. So I was like, how many stocks

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<v Speaker 3>are actually bigger than the market cap that NVIDIA added today?

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<v Speaker 3>You only have to go down 26 places. Well, actually

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<v Speaker 3>even fewer than that.

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<v Speaker 1>Does that even count double alphabet probably?

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<v Speaker 3>Probably. I don't even know if it covers double alphabet.

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<v Speaker 3>But like Costco, $ 414 billion. Lamb Research, $ 400 billion. That's like,

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<v Speaker 3>you know, 475 stocks in the S &amp; P 500

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<v Speaker 3>basically are smaller than the amount of money that NVIDIA

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<v Speaker 3>added today.

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<v Speaker 1>And you look at it using the MOV function on

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<v Speaker 1>the terminal. NVIDIA was worth 52 points on the S &amp;

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<v Speaker 1>P 500. Wow. That's just crazy. Amazon was down one

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<v Speaker 1>and a half percent. That's four. That's like less than 10%

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<v Speaker 1>to the downside on Amazon. Just mind numbing. You got

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<v Speaker 1>to teach me how you did that later.

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<v Speaker 3>Okay. Listen, ask B. It is like the AI worth having.

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<v Speaker 3>It's in the terminal. Ask B and you just talk

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<v Speaker 3>to it. And sometimes I talk to it.

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<v Speaker 1>Yeah, I'm sure you do.

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<v Speaker 3>We're talking to Bailey Lipschultz and he's also looking at Autodesk.

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<v Speaker 3>What's going on with Autodesk?

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<v Speaker 1>Autodesk ticker ADSK right now down almost 7% post-market. This

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<v Speaker 1>came after adjusted EPS for the third quarter. Missed expectations,

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<v Speaker 1>really kind of digging into some of these numbers. Some

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<v Speaker 1>good and a lot that's not too great. Overall, full

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<v Speaker 1>year forecast, revenue forecast beating expectations, but it does seem

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<v Speaker 1>like it's going to be a choppy second half. Just

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<v Speaker 1>got to keep in mind, though, this is a company

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<v Speaker 1>that closed at the highest level since January. We've seen

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<v Speaker 1>the entire ecosystem really rallying from those June bottoms. So headline,

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<v Speaker 1>not great when your third quarter forecasts are weaker than

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<v Speaker 1>what Wall Street was looking for. But this does seem

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<v Speaker 1>like we're kind of working through maybe the dog days

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<v Speaker 1>of summer with some of these late reporters.

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<v Speaker 3>All right.

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<v Speaker 1>You also have Wendy's not doing well. It's not because

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<v Speaker 1>of the Baconator. I'll tell you that much. I've never

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<v Speaker 1>tried it just to put it out there. But yeah,

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<v Speaker 1>there's some big news behind Wendy's. Wendy's.

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<v Speaker 2>Yeah.

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<v Speaker 1>Wendy's or Workday. Workday 2. Oh, Workday 2. I mean,

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<v Speaker 1>I can riff on Wendy's. I don't actually know what's

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<v Speaker 1>going on.

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<v Speaker 3>Lisa's just particular because she chose Wendy's as one of

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<v Speaker 3>her movers today. I didn't get to talk about it.

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<v Speaker 1>We can talk about not trying to pursue a bid

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<v Speaker 1>or Workday, which is rumored to potentially be a target

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<v Speaker 1>for Silver Lake. So there's similarities there.

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<v Speaker 2>Yes, beautiful. Do it, Bailey.

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<v Speaker 1>Workday took a WDAY down almost 8%. Lukewarm results is

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<v Speaker 1>what Brody Ford is calling it. Subscription revenue backlog below

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<v Speaker 1>what Wall Street was looking for. And again, this is

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<v Speaker 1>a kind of market where we're seeing pockets of software rallying.

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<v Speaker 1>So opposite of a cyber.

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<v Speaker 3>Yeah, you mentioned the Silver Lake News from at this

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<v Speaker 3>point a few weeks ago, a few months ago. I

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<v Speaker 3>don't even know. That was like a blessing to Workday.

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<v Speaker 3>That's what Brody described to us a little earlier today

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<v Speaker 3>ahead of these numbers. But many people were like, wait

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<v Speaker 3>a second, are we going to see a report like

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<v Speaker 3>we got from Salesforce yesterday for Workday? Not necessarily seeing

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<v Speaker 3>that today.

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