WEBVTT - Closing Bell: Broadcom Climbs, Warner Brothers Higher, Fastenal Declines After Reporting Results

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on this stock movers report,

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenobeck, Romain Bostick, and Scarlett foul.

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<v Speaker 1>All right, let's go to the S and P. Five

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<v Speaker 1>hundred most names in the index. Hire guys today three

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<v Speaker 1>hundred and fifty nine gaining ground, one hundred and forty

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<v Speaker 1>two to the downside, Matt too unchanged.

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<v Speaker 3>Take a look at the industry groups moving higher, and

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<v Speaker 3>you'll see pretty much all of them that aren't defensive

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<v Speaker 3>did So you've got consumer staples down. And if you

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<v Speaker 3>look at the S and P, which is I think

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<v Speaker 3>Katie agrees, you know much better yardstick, it's the index,

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<v Speaker 3>you can see that you had a lot of consumer

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<v Speaker 3>staples on the downside, Procter and Gamble. You had Philip

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<v Speaker 3>Morris at one point one of the biggest losers on

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<v Speaker 3>the index, Altria Group. Also, these are things that you

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<v Speaker 3>know you either need to buy again every month or

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<v Speaker 3>you're just addicted to so you have no choice. But

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<v Speaker 3>for the for the most part, you had every other

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<v Speaker 3>group rising. Healthcare you see down, but really just unchanged.

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<v Speaker 1>All right, guys, let's get to some of the individual gainers.

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<v Speaker 1>No surprise, I'm going to talk about Broadcom. Of course,

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<v Speaker 1>tick er avgo up as much as almost eleven percent,

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<v Speaker 1>finishing the day with a gain of just shy of

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<v Speaker 1>ten percent, number two gainer in the S and P

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<v Speaker 1>five hundred, number one gainer in the nasdaquin hundred, no

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<v Speaker 1>number two, forgive me, but nonetheless really just pushed the

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<v Speaker 1>whole semi sector higher in today's session. This as open

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<v Speaker 1>ai signed a multi year agreement with Broadcom to collaborate

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<v Speaker 1>on custom chips and networking equipment. So it's the latest

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<v Speaker 1>step in open AI's ambitious plan to add computing infrastructure.

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<v Speaker 1>But it really gave some juice to Broadcom, all right.

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<v Speaker 1>The other thing that was kind of a broader story

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<v Speaker 1>today was when you look at rare earth and critical

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<v Speaker 1>mineral stocks rising, fallowing strong gains among Asia in peers

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<v Speaker 1>fresh tensions between Beijing and Washington over China's exports of

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<v Speaker 1>critical minerals, fueling bets on alternative suppliers. So two names.

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<v Speaker 1>I just want to show critical materials, critical medicals. Try

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<v Speaker 1>this again. Shall we try that again?

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<v Speaker 2>Take two?

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<v Speaker 1>Everybody?

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<v Speaker 3>Three? Two?

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<v Speaker 1>One, Critical Medals up almost fifty five percent in today's session,

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<v Speaker 1>and then MP Materials up just about twenty one percent.

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<v Speaker 1>Remember MP Materials is the one that the US government

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<v Speaker 1>has taken a stake in, along with some other investments

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<v Speaker 1>in raw materials companies. And then I got to mention

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<v Speaker 1>Warner Brothers up almost four percent. Here this as the

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<v Speaker 1>company according to reports that sided people familiar with the

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<v Speaker 1>matter of rejected Paramount skuy Dance's initial takeover approach for

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<v Speaker 1>being too low.

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<v Speaker 4>Can I just go ahead?

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<v Speaker 3>Can I just interject with a little bit of an

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<v Speaker 3>editorial comments?

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<v Speaker 4>This is very Roman of you, So go ahead.

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<v Speaker 5>I know.

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<v Speaker 1>I'm like, well, I thought I could get through it

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<v Speaker 1>and then just pass the botagal take.

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<v Speaker 3>Has Carol, because you and Tim were there at screen

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<v Speaker 3>time last week. Yeah, I Lucas Shaw's conversation with David

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<v Speaker 3>Ellison was amazing.

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<v Speaker 5>It was amazing.

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<v Speaker 3>I understand so much more about the company, about the industry,

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<v Speaker 3>about their aim.

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<v Speaker 1>That's funny because Laura Martin of Needham said, she goes,

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<v Speaker 1>I don't feel like that David Ellison has really laid

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<v Speaker 1>out his strategy and he keeps making these acquisitions, but

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<v Speaker 1>not kind of saying what the overall strategy is. I'm

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<v Speaker 1>just just sharing you because she talked with us at

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<v Speaker 1>screen time.

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<v Speaker 3>I just thought it was good, so good.

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<v Speaker 4>I can listening to it if you haven't, or buy

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<v Speaker 4>tickets for next year. Billy. There were stocks that felt today.

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<v Speaker 5>There are stocks that felt today. And the worst performer

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<v Speaker 5>in the S and P five hundred is not in

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<v Speaker 5>the Dow Jones industrials. Katie. That is Fast and all

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<v Speaker 5>Tick your fast following the most since March twenty twenty.

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<v Speaker 5>This came after earnings. COO told Carol and I that

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<v Speaker 5>their stock was actually price of perfection and that's why

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<v Speaker 5>they were down. But analysts called out some soft pricing

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<v Speaker 5>overshadowing results that at the top line actually weren't that bad.

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<v Speaker 5>And I want to call out this second and third

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<v Speaker 5>one worst performers in the S and P five hundred

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<v Speaker 5>casino stocks. We saw both Las Vegas Sands and Win

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<v Speaker 5>Resorts under pressure, each falling more than six percent. Not

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<v Speaker 5>because people aren't going to Las Vegas, but there's a

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<v Speaker 5>holiday on the other side of the world and that's

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<v Speaker 5>Golden Week, and we saw MACAU data disappointing, so investors

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<v Speaker 5>really selling down those two stocks again, Las Vegas Sands

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<v Speaker 5>tick her LVS down more than six percent, worst drop

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<v Speaker 5>since earlier in the month, but closing at the lowest

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<v Speaker 5>level since June. And guys, I just want to wrap

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<v Speaker 5>up with one of my favorite stocks to cover, beyond meat,

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<v Speaker 5>ticker b y N.

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<v Speaker 1>Could you like to eat it?

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<v Speaker 5>I do not like to eat it. I'm I questioned

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<v Speaker 5>it as a little concerning how it bleeds, but it was.

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<v Speaker 5>It was at one point one of the best stocks

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<v Speaker 5>to IPO ever. Very real it was.

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<v Speaker 2>It was.

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<v Speaker 3>It was.

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<v Speaker 5>You know, it's a very logical fundamental argument, at least

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<v Speaker 5>when when the stock was trading for whatever number it was,

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<v Speaker 5>but closing at a record low, losing about half its value.

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<v Speaker 5>This came after debt investors swapped their notes for shares,

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<v Speaker 5>diluting investors. So it does seem like h burn to

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<v Speaker 5>the end for beyond meat.

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<v Speaker 4>Yeah, pour out some beet juice for beyond meat. The

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<v Speaker 4>bond market was close today. It was one of those

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<v Speaker 4>weird days where equities were opened, bonds were closed. I

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<v Speaker 4>wanted to take a look at TLT here though, this

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<v Speaker 4>of course tracks twenty year treasuries and beyond and you

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<v Speaker 4>can see that it's just about flat. On the day

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<v Speaker 4>it opened up lower. That would have meant that yields

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<v Speaker 4>were higher, but you can see it finished just about unchanged.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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