1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,520 --> 00:00:12,440 Speaker 2: The Stock Movers report your roundup of companies making moves 3 00:00:12,440 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:19,239 Speaker 1: I'm Jim Stinebeck along with Carol Mass. Let's take a 5 00:00:19,280 --> 00:00:21,800 Speaker 1: look at some stocks on the move today. We're joined 6 00:00:21,800 --> 00:00:26,440 Speaker 1: by Bloomberg News Equities reporter Jordan Fitzgerald. Jordan's still earning season, 7 00:00:26,480 --> 00:00:27,280 Speaker 1: at least for Zoom. 8 00:00:27,400 --> 00:00:31,120 Speaker 3: It is still earning seasons. Sometimes I think it never ends. Hi, guys, Hello, 9 00:00:31,920 --> 00:00:34,400 Speaker 3: Zoom did report after the bell today. Shares are up 10 00:00:34,400 --> 00:00:36,519 Speaker 3: when I last checked, more than three percent in the 11 00:00:36,560 --> 00:00:39,640 Speaker 3: post market. First of all, hard to ignore that it 12 00:00:39,680 --> 00:00:42,120 Speaker 3: was a really good day for tech and for communication stocks. 13 00:00:42,120 --> 00:00:45,080 Speaker 3: Communication stocks did lead the S and P five hundred today, 14 00:00:45,400 --> 00:00:47,800 Speaker 3: But I've been mad. Zoom delivered a strong print, stronger 15 00:00:47,840 --> 00:00:51,080 Speaker 3: than analysts were expecting for quarter EPs beat, revenue came 16 00:00:51,120 --> 00:00:54,560 Speaker 3: in line with estimates, and they forecast fourth quarter operating 17 00:00:54,600 --> 00:00:58,640 Speaker 3: income that topped what analysts were expecting. So overall, strong 18 00:00:58,720 --> 00:01:02,600 Speaker 3: results from Zoom. And the thought is that Zoom is 19 00:01:02,640 --> 00:01:05,880 Speaker 3: really outperforming on its diversified products. I mean, we all 20 00:01:05,880 --> 00:01:08,480 Speaker 3: think of Zoom and we get war flashbacks to five 21 00:01:08,560 --> 00:01:10,840 Speaker 3: years ago and just never getting off of there. I know, 22 00:01:10,880 --> 00:01:13,480 Speaker 3: I was in college and we'd spend eight hours a 23 00:01:13,520 --> 00:01:14,400 Speaker 3: day in Zoom class. 24 00:01:14,400 --> 00:01:14,959 Speaker 4: It sucked. 25 00:01:16,640 --> 00:01:17,920 Speaker 3: Nothing personal against you. 26 00:01:18,000 --> 00:01:20,759 Speaker 4: Zoom, but we're still using it exactly. 27 00:01:20,800 --> 00:01:22,720 Speaker 3: I use it every day, not to that extent, but 28 00:01:23,680 --> 00:01:26,560 Speaker 3: I think it's pretty obvious to say that Zoom's not 29 00:01:26,560 --> 00:01:28,800 Speaker 3: going to be at the heights it once was during 30 00:01:28,840 --> 00:01:31,119 Speaker 3: COVID when we needed to be on there every second 31 00:01:31,120 --> 00:01:31,720 Speaker 3: of every day. 32 00:01:33,040 --> 00:01:34,559 Speaker 4: But it's not. 33 00:01:34,440 --> 00:01:37,039 Speaker 3: As easy to say that it would be successful building 34 00:01:37,080 --> 00:01:40,960 Speaker 3: out its other services. Zoom's offered an AI assistant, contact 35 00:01:41,000 --> 00:01:45,600 Speaker 3: call software, corporate phone systems. Zoom really seems to be 36 00:01:46,280 --> 00:01:48,800 Speaker 3: delivering in a way analysts weren't expecting. 37 00:01:48,960 --> 00:01:52,040 Speaker 5: YEP stuck up three points seven percent here in the aftermarket, 38 00:01:52,120 --> 00:01:55,080 Speaker 5: not doing much year to date, but definitely getting a bup. 39 00:01:55,080 --> 00:01:58,240 Speaker 5: It's down actually about three points seven percent year to date, 40 00:01:58,280 --> 00:02:01,400 Speaker 5: but it's up that much in the aftermarkets. That's certainly 41 00:02:01,400 --> 00:02:03,160 Speaker 5: when we're going to watch into the Tuesday trade. 42 00:02:03,160 --> 00:02:05,440 Speaker 4: All right, Jordan, what about Tesla? What's going on with Tesla? 43 00:02:05,520 --> 00:02:08,160 Speaker 3: Oh? Tesla? What's going on with Tesla? Such a perpetual question. 44 00:02:08,240 --> 00:02:11,600 Speaker 4: I just checked X pretty much well. 45 00:02:11,560 --> 00:02:15,679 Speaker 3: Actually, yesterday Elon did post on X I have to 46 00:02:15,680 --> 00:02:18,840 Speaker 3: stop myself from saying tweet every time he posted on 47 00:02:19,040 --> 00:02:23,280 Speaker 3: X an update on Tesla's chip progress, said that it's 48 00:02:23,280 --> 00:02:27,079 Speaker 3: getting close to debuting an AI five chip and starting 49 00:02:27,120 --> 00:02:30,959 Speaker 3: progress on an AI six chip. Tesla really has been 50 00:02:31,120 --> 00:02:34,000 Speaker 3: pivoting away from being a car company. One could argue 51 00:02:34,000 --> 00:02:36,160 Speaker 3: it was never just a car company, but for all 52 00:02:36,160 --> 00:02:40,320 Speaker 3: intents and purposes, let's say it is. And though these 53 00:02:40,360 --> 00:02:43,639 Speaker 3: AI tips aren't necessarily like critical to Tesla's long term 54 00:02:43,639 --> 00:02:47,160 Speaker 3: ambitions of being a robotics and robotaxi company, they would 55 00:02:47,160 --> 00:02:49,520 Speaker 3: really help on the efficiency front and do really play 56 00:02:49,520 --> 00:02:53,640 Speaker 3: into this narrative that Tesla is becoming a tech powerhouse 57 00:02:53,880 --> 00:02:55,919 Speaker 3: independent of its electric vehicle sales. 58 00:02:56,480 --> 00:03:00,240 Speaker 5: Interesting, so are these more productive energy efficient chips? Is 59 00:03:00,240 --> 00:03:00,840 Speaker 5: that what their working? 60 00:03:00,960 --> 00:03:02,840 Speaker 3: Elon doesn't tend to go into that much detail, but 61 00:03:03,720 --> 00:03:07,320 Speaker 3: he did say everybody they will be used for the 62 00:03:07,480 --> 00:03:09,920 Speaker 3: optimist spots. The current Tesla cars do run on the 63 00:03:10,000 --> 00:03:12,920 Speaker 3: AI four chips, so it would be an augen Okay. 64 00:03:12,600 --> 00:03:15,119 Speaker 4: Okay, Well, no easy transition. 65 00:03:15,480 --> 00:03:17,320 Speaker 6: Well, I'm just thinking of if there's a transition to 66 00:03:17,320 --> 00:03:22,720 Speaker 6: Tyson Foods and maybe automation, maybe wrong kind of chiprong 67 00:03:22,840 --> 00:03:26,840 Speaker 6: kind of automation within the within the meat processing facilities. 68 00:03:26,960 --> 00:03:27,200 Speaker 2: Yeah. 69 00:03:27,240 --> 00:03:30,480 Speaker 3: So Tyson announced today that it's going to be closing 70 00:03:30,520 --> 00:03:35,880 Speaker 3: a beef processing plant in Nebraska, and traders really metabolized 71 00:03:35,960 --> 00:03:41,800 Speaker 3: that news quite positively. Analysts at BEMO said that, you know, 72 00:03:41,840 --> 00:03:44,480 Speaker 3: this right sizing is actually really important for the industry 73 00:03:44,480 --> 00:03:48,200 Speaker 3: and for Tyson. That being said, did cattle futures fault Yes, 74 00:03:48,480 --> 00:03:52,040 Speaker 3: Did the Nebraska senator call this devastating for the community also, yes? 75 00:03:52,160 --> 00:03:55,520 Speaker 3: So what's good for Tyson might not be universally great, 76 00:03:55,560 --> 00:03:57,320 Speaker 3: but it did send the stock up more than six 77 00:03:57,360 --> 00:03:59,680 Speaker 3: percent today and Tyson did have its best day since 78 00:03:59,760 --> 00:04:00,560 Speaker 3: last November. 79 00:04:00,920 --> 00:04:04,160 Speaker 5: Why did the stock rally? I don't understand. 80 00:04:03,720 --> 00:04:05,360 Speaker 3: That it's an efficiency map? 81 00:04:05,480 --> 00:04:08,520 Speaker 5: Oh okay, okay, okay, got it, Just trying to understand. 82 00:04:08,600 --> 00:04:11,960 Speaker 3: But not great for the community, no, but but good 83 00:04:11,960 --> 00:04:13,280 Speaker 3: to the bottom line. 84 00:04:14,080 --> 00:04:18,120 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 85 00:04:18,200 --> 00:04:20,760 Speaker 2: us throughout the day for the latest roundup of companies 86 00:04:20,839 --> 00:04:23,920 Speaker 2: making news on Wall Street and for the latest market 87 00:04:23,960 --> 00:04:28,440 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 88 00:04:28,520 --> 00:04:32,000 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 89 00:04:32,080 --> 00:04:33,559 Speaker 2: the Bloomberg Business app.