WEBVTT - Nvidia Dips; Alphabet Gains; E.W. Scripps Soars

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's take a look

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<v Speaker 1>at some stocks on the move today.

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<v Speaker 2>I'm Tim Keen with Paul Sweeney and Bloomberg's Lisa Motel.

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<v Speaker 2>You got it, okay.

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<v Speaker 3>I want to start with Invidia NVDA, if their shares

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<v Speaker 3>have been.

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<v Speaker 2>Down more than one and a half percent. And this

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<v Speaker 2>is what's happening.

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<v Speaker 3>A filing is showing that Peter Teel's hedge Funteal macro

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<v Speaker 3>it sold off its holdings in Nvidia during the third quarter.

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<v Speaker 2>And how much are we talking. We'll get to the numbers.

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<v Speaker 3>Offloaded its entire position five hundred thirty seven seven hundred

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<v Speaker 3>and forty two shares. It would have been worth about

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<v Speaker 3>one hundred million based on the closing price from September thirtieth.

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<v Speaker 3>Its main bets are now Apple, Microsoft and a reduced

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<v Speaker 3>steak in Tesla. But it's really the timing of all

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<v Speaker 3>this right, rising concerns about the AI bubble investment bubbles

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<v Speaker 3>off Bank also announced that it's sold off as shares of Nvidia,

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<v Speaker 3>So that has people concerned, and the shares are lower

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<v Speaker 3>this morning. Aside from that, we have Alphabet taker Gogl.

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<v Speaker 2>I know, I know, here we go.

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<v Speaker 3>So their shares of en up as much as five

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<v Speaker 3>percent before the bell. They're actually the biggest gainer of

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<v Speaker 3>the mag seven tech stocks this morning. The reason why

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<v Speaker 3>you talked about it, Warren Buffett's Berkshire Hathway took a

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<v Speaker 3>stake in the company last quarter. A filing shows that

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<v Speaker 3>acquired seventeen point nine million shares. A side note, Berkshire

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<v Speaker 3>also further trim this holdings in Bank of America and Apple.

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<v Speaker 3>But to get back to Alphabet, other news giving kind

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<v Speaker 3>of the shares of boost, Google announced plans to invest

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<v Speaker 3>forty billion dollars in three new Texas data centers, boosting

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<v Speaker 3>AI computing power. I was talking a lot of AI

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<v Speaker 3>this morning and usually every morning. And finally news multimedia

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<v Speaker 3>company e W Scripts Okay, it's ticker SSP up as

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<v Speaker 3>much as twenty three percent, So Sinclair took an eight

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<v Speaker 3>point two percent taking the company was part of this

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<v Speaker 3>potential merger strategy. They're apparently been talking about it for months.

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<v Speaker 3>They estimate the strategy will result in more than three

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<v Speaker 3>hundred million annual synergies.

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<v Speaker 2>But they say we're going to protect the company. It's

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<v Speaker 2>one big industry rolled up, is what we're talking about.

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<v Speaker 4>Right, Yeah, this is TV station business there and Sinclair's

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<v Speaker 4>one of the largest along with next Star. And Sinclair

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<v Speaker 4>has been a big supporter of President Trump and they're

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<v Speaker 4>expecting that that support will translate into some favorable treatment

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<v Speaker 4>of some more consolidation in the TV business.

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<v Speaker 2>I don't know, it's just ongoing. I was absolutely dazzled

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<v Speaker 2>this weekend.

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<v Speaker 3>It's all streaming thing.

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<v Speaker 4>Yeah at home.

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<v Speaker 2>I mean it's just the choices.

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<v Speaker 4>Yeah, absolutely have. But you've got to be smart to

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<v Speaker 4>figure out where things are. I mean they're all.

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<v Speaker 3>Over the place, frustrated when it comes to sports, especially

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<v Speaker 3>where okay quick one yeah, oh sealed air see oh

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<v Speaker 3>yeah down as much as three percent? So c D

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<v Speaker 3>And are they agreed to buy? It's the bubble Wrap,

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<v Speaker 3>Clayton Air, Thank you, Clayton Double and Rice. It's a

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<v Speaker 3>deal valuing the packaging company six point two billion.

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<v Speaker 2>Bubble Wrap.

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<v Speaker 3>In case you didn't know how it started, Okay, the

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<v Speaker 3>engineers actually did this new wall covering. It was like

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<v Speaker 3>laminated two plastic sheets with bubbles. It failed people didn't

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<v Speaker 3>like it, so they said, hey, we can use this

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<v Speaker 3>for something else, for packaging.

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<v Speaker 2>So yeah, all the bubble reps. So we sit there

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<v Speaker 2>and pop the bubbles off at rist this morning. It's

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<v Speaker 2>so soothing. I have to tell you I have a

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<v Speaker 2>blaws it with bubble rep that you're going to use someday,

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<v Speaker 2>just in case when I'm stressed out. You grab it

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<v Speaker 2>and you just pop away.

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