WEBVTT - Workday Soars, Applied Materials Slumps, Tapestry Slides

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio 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 Stadoveeck along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today. We've got

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<v Speaker 3>avalon for now with us Bloomberg News Equities Reporter. It

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<v Speaker 3>was a record day.

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<v Speaker 4>It sure was definitely a lot of ups and down.

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<v Speaker 5>So despite that, we can start off with Applied mark Materials.

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<v Speaker 1>Yeah right, we did get Applied Materials after the closing bow.

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<v Speaker 4>Where are we? Yes, that's ticker AMAT.

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<v Speaker 5>It's currently down about three point seven percent, and that's

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<v Speaker 5>after the semiconductor manufacturer reported just some modest upside in

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<v Speaker 5>its third quarter results and also gave a fourth quarter

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<v Speaker 5>outlook that generally surpassed estimates. However, they're becoming just another

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<v Speaker 5>example that when it comes to AI trade good is

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<v Speaker 5>generally not good enough vital knowledge, even noting in their

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<v Speaker 5>notes that Applied Materials seems to be the latest victim

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<v Speaker 5>of a very very high bar for tech companies. We

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<v Speaker 5>already saw it with Coherent, Cerebus, and Cisco just this

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<v Speaker 5>past week as even if you're reporting earnings and guidance

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<v Speaker 5>that is ahead of the street, if it doesn't have

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<v Speaker 5>a lot of upside, it's giving a lot of investors pause.

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<v Speaker 1>Yeah, I think it's interesting, right, So down three point

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<v Speaker 1>seven percent. I think as they go through the analyst

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<v Speaker 1>call and we'll see, you know, if there's some kind

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<v Speaker 1>of commentary that gives people some bitter insight.

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<v Speaker 3>Well, just because Avalon mentioned Cerebras the first day reporting

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<v Speaker 3>after that most recent report, so they reported yesterday, but

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<v Speaker 3>the stock move today fell as much as sixteen percent

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<v Speaker 3>in the session but ended up closing down about twelve percent.

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<v Speaker 1>Yeah, down a lot, all right, So Amatt, as you said,

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<v Speaker 1>take our Amat, let's go to work day, which came

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<v Speaker 1>on our radar, radar, radar, radar, radar, radar now on

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<v Speaker 1>our radar, and we saw the stock pop in a big.

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<v Speaker 4>Way, big time. That's ticker wday.

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<v Speaker 5>It jumped eighteen percent to close out its best one

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<v Speaker 5>day in more than a decade. And that's after a

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<v Speaker 5>report from Reuter saying that the private equity firm silver

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<v Speaker 5>Lake silver Lake, excuse me, is in talks to potentially

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<v Speaker 5>purchase a software provider. They've been a major victim of

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<v Speaker 5>the sas apocalypse, and so definitely some good news and

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<v Speaker 5>wanted news from investors in the markets today.

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<v Speaker 1>Yeah, seeing it down about one point two percent in

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<v Speaker 1>the aftermarket, So it's interesting, right. So I know our team,

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<v Speaker 1>we talked with Ryan Gould, one of our deals part

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<v Speaker 1>of our deals reporting team, and just saying they haven't

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<v Speaker 1>I think they're still looking ato details and trying to

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<v Speaker 1>confirm it out.

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<v Speaker 3>So but the big picture is keep an eye on it.

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<v Speaker 3>Like you said, Avalon, you know, you said one of

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<v Speaker 3>the major victims of the so called saspocalypse. There are

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<v Speaker 3>a lot out there. Yeah, And you know, we had

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<v Speaker 3>a conversation too earlier in the day with Rudinacessari, who

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<v Speaker 3>she's a venture capitalist. She invests in AI companies, and

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<v Speaker 3>she said this, if this goes through, and you know,

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<v Speaker 3>it could be and they're able to make it sort

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<v Speaker 3>of like an AI first company.

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<v Speaker 4>That was wild.

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<v Speaker 3>It could be like a like not a template. But

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<v Speaker 3>that's kind of the takeaway I had from the conversation

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<v Speaker 3>of other take private deals, because yeah, a lot of

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<v Speaker 3>these companies have been beat up so much.

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<v Speaker 1>Because they have, first of all, an incredible customer base, right,

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<v Speaker 1>there's a lot there in terms of their reach and

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<v Speaker 1>their clients, and so if you come somehow can make

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<v Speaker 1>the transition, maybe that is right a formula for going forward.

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<v Speaker 1>Let's talk about TPR.

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<v Speaker 5>Yes, Tapestry, they did not have as good of a day,

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<v Speaker 5>to say the least. They sank about sixteen percent into

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<v Speaker 5>the close for their worst one day drop since March

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<v Speaker 5>twenty twenty. We all know what happened there, and that's

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<v Speaker 5>after a parent company of Coach and Kate Spade gave

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<v Speaker 5>forecasts for the fiscal year twenty twenty seven that at

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<v Speaker 5>least at the midpoint, was slightly below expectations. City noting

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<v Speaker 5>that while the guidance was a little bit light, they

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<v Speaker 5>were impressed by the fact that Coach continues to maintain

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<v Speaker 5>a positive point and seems to still have a lot

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<v Speaker 5>of momentum ahead for the brand, which, as we already know,

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<v Speaker 5>Tapestry has really been seeing a large pop and shares

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<v Speaker 5>given that pop.

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<v Speaker 4>Fularty amongst gen Z and millennial shoppers.

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<v Speaker 1>Yeah, they've definitely reinvented themselves. I mean the stock is

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<v Speaker 1>a little changed on the year, but they have really

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<v Speaker 1>over the many. I mean last year it was up

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<v Speaker 1>ninety five percent, so we saw quite a rally.

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<v Speaker 3>It's just coaching Kate's Bade.

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<v Speaker 4>Coach, they have other companies.

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<v Speaker 1>I forget who else is in there.

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<v Speaker 3>Okay, yeah, so definitely coaching Kate's Spade. Are the big ones?

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<v Speaker 2>Yes?

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<v Speaker 3>Wow, Okay, I can't. I maybe it's because I don't

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<v Speaker 3>shop at the right places, Carol.

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<v Speaker 1>No, I think it coaching Kate's s Bade. Is that it?

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<v Speaker 1>That's it? They did used to own Stuart Whitesman, but

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<v Speaker 1>it looks like they sold it off back in twenty

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<v Speaker 1>twenty five. Okay, don't you love how we digress Avalanche.

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<v Speaker 3>Are you doing some shopping, Carrol? No, okay, no, just

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<v Speaker 3>looking at the computer.

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<v Speaker 1>Yeah. No, I was like looking for the brain.

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<v Speaker 3>Okay, calling me he was coaching Kate's Fade up there.

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