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Speaker 1: Bloomberg Audio Studios, podcasts, radio News.

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Speaker 2: This Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 1: Let's take a look at some stocks on the move today.

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Speaker 1: I'm Nathan Heger, joined by Bloomberg Stan Curtis. We got

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Speaker 1: to start off with the banks DAN reporting earnings and

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Speaker 1: a negative reaction to the results from Wells Fargo.

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Speaker 3: Good morning, Good morning, Nathan. That's right. Wells Fargo shares

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Speaker 3: down about one and a half percent this morning. We've

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Speaker 3: had the bank come out with its fourth quarter earnings.

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Speaker 3: Net interest income came in at twelve point three billion

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Speaker 3: dollars for the period. That was about one hundred million

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Speaker 3: short of Wall Street estimates. For the current year, it

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Speaker 3: sees net interest income at around fifty billion dollars. That's

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Speaker 3: signaling a rebound and that matches analysts outlook. So this

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Speaker 3: year maybe a little bit healthier than last year. Fourth

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Speaker 3: quarter it was marked by some expenses six hundred and

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Speaker 3: twelve million spent on severance. That's part of the plan

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Speaker 3: to cut costs. The bank is looking to save money

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Speaker 3: through more automation. It came out it iterated that again

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Speaker 3: trying to push ahead the narrative to this year. Investment

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Speaker 3: Bank also missed estimates, that follows JP Morgan. So we're

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Speaker 3: starting to see a little bit of a trend there

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Speaker 3: with those two banks being soft and Wells Fargo CEO

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Speaker 3: just commenting the bank is happy to be back on

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Speaker 3: an even playing field. That's reference to the removal of

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Speaker 3: an asset cap put in place in the wake of scandals.

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Speaker 3: The cap was lifted in June, but the bank is

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Speaker 3: again trying to push ahead to some rosy optimism.

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Speaker 1: Okay, So while Wells Fargo tries to focus on the

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Speaker 1: positive here, we're seeing a pretty firmly positive reaction to

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Speaker 1: the other bank that's reported so far this morning, and

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Speaker 1: that would be Bank of America.

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Speaker 3: That's right, Bank of America. That stock is up about

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Speaker 3: one and a half percent in pre market. I'm going

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Speaker 3: to just point it out. Investment banking revenue finally a

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Speaker 3: match after two misses from Wells and JP Morgan, a

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Speaker 3: little bit of bright side for that business. Net interest

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Speaker 3: income fifteen point eight billion dollars. That's another beat. Bank

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Speaker 3: of America's trading revenue with adjustments in at four and

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Speaker 3: a half billion dollars a little softer than estimates on

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Speaker 3: the fixed income side, but equities came back countered that,

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Speaker 3: pushing the overall figures to be very positive. CEO moynihan

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Speaker 3: came out pretty bullish on the US economy this year,

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Speaker 3: so he's bringing some strength into the US economy that

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Speaker 3: counters the tone of Jamie Diamond, who is a little

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Speaker 3: bit more hesitant around the risks that the US faced

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Speaker 3: in twenty twenty six.

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Speaker 1: Okay, so while we continue to watch the bank earnings,

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Speaker 1: we are also continuing to watch the bidding war for

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Speaker 1: Warner Brothers Discovery. We might have some new developments there

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Speaker 1: when it comes to Netflix exactly.

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Speaker 3: I watched Netflix for drama, not the streatment, but the news.

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Speaker 3: So Netflix is discussed switching his offer for Warner Brothers

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Speaker 3: to an all cash deal. That's according to people familiar

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Speaker 3: with the matter. The original agreement was a mix of

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Speaker 3: Netflix equity with cash. Netflix is hopening by switching that

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Speaker 3: to an all cash deal that could expedite an acquisition.

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Speaker 3: It's battling Paramount Sky. The CEO David Ellison his father

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Speaker 3: Larry Ellison have launched a tender offer for Warner Larry

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Speaker 3: that Ellison's have also sued to get more details about

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Speaker 3: Warner brothers valuation of Netflix's offer, because Warner Brothers has

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Speaker 3: recommended that its shareholders back the Netflix takeover.

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Speaker 1: Just thirty seconds left here, Dan, But we got to

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Speaker 1: talk about the most actively traded stock this morning.

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Speaker 2: What's going on with Intel?

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Speaker 3: Yeah, Intel, it is up again. So we had an

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Speaker 3: upgrade that we talked about yesterday. It's up again another

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Speaker 3: two percent. This is just really bullish on the chips.

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Speaker 3: This is one of the few founderies that has made

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Speaker 3: in America. There's some analyst notes saying it could be

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Speaker 3: one the second best foundry in the world. And I

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Speaker 3: think having something in America, particularly with the Trump agenda,

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Speaker 3: the US taking a position in August of last year,

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Speaker 3: that's kind of added a lot of bullish upside to

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Speaker 3: the stock in the morning, another two percent on top

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Speaker 3: of doubling since the US took a takeover.

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Speaker 2: This stock mover's report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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