1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:18,439 Speaker 1: Let's take a look at some stocks on the move 5 00:00:18,480 --> 00:00:21,960 Speaker 1: today with us is Bloomberg News Cross Asset reporter Emily Graffeo. 6 00:00:22,400 --> 00:00:24,600 Speaker 1: Let's start with a big tech company exactly. 7 00:00:24,720 --> 00:00:29,040 Speaker 3: Okay, Google Alphabets subsidiary. I was going to say the 8 00:00:29,040 --> 00:00:35,800 Speaker 3: parent company, but parent alphabet is IPS. We all call it. 9 00:00:36,360 --> 00:00:41,920 Speaker 3: The ticker is Google. G is alphabet, the parent is alphabet. 10 00:00:42,200 --> 00:00:45,680 Speaker 3: So you know we'll hit a record in today. Hi guys, Yes, 11 00:00:45,720 --> 00:00:48,080 Speaker 3: and stall On Warren Buffetts, mom and dad. 12 00:00:48,080 --> 00:00:49,640 Speaker 4: You figure it out, And I'm going to. 13 00:00:49,640 --> 00:00:50,599 Speaker 2: Go ahead do stock. 14 00:00:51,920 --> 00:00:55,720 Speaker 3: Berkshire Hathaway disclosing a steak in the company. This is 15 00:00:55,720 --> 00:00:57,240 Speaker 3: a big deal for a company. 16 00:00:57,280 --> 00:00:59,319 Speaker 4: You don't like this slid under the radar a little bit, 17 00:00:59,440 --> 00:01:01,760 Speaker 4: I know, because this is the weekend or something like. 18 00:01:01,800 --> 00:01:02,840 Speaker 4: It felt like it came to light. 19 00:01:03,040 --> 00:01:06,400 Speaker 3: Yeah, and this is the first time that there's a 20 00:01:06,720 --> 00:01:08,920 Speaker 3: stake in this company from Buffett. 21 00:01:09,000 --> 00:01:09,240 Speaker 2: Yeah. 22 00:01:09,840 --> 00:01:12,559 Speaker 3: So I mean even though you're, you know, a megacap 23 00:01:12,760 --> 00:01:15,480 Speaker 3: tech company, there's still some excitement here. When the oracle 24 00:01:15,480 --> 00:01:18,800 Speaker 3: of Omaha is buying your stock. So he acquired seventeen 25 00:01:18,840 --> 00:01:22,880 Speaker 3: point nine million shares of Google par parent Alphabet during 26 00:01:22,920 --> 00:01:27,560 Speaker 3: the third quarter and then trimmed Bank of American Apple holdings. 27 00:01:28,040 --> 00:01:31,160 Speaker 3: So now Berkshire's Alphabet steak is about zero point three 28 00:01:31,280 --> 00:01:34,880 Speaker 3: one percent of the outstanding shares. A couple of people 29 00:01:34,880 --> 00:01:37,800 Speaker 3: on Wall Street said, this is this is good for Google. 30 00:01:38,120 --> 00:01:41,880 Speaker 3: It's bringing investors confidence that this is a company that's 31 00:01:41,920 --> 00:01:44,800 Speaker 3: spending a lot. And then you have this investor who's 32 00:01:44,920 --> 00:01:49,080 Speaker 3: very cash conscious and loves you know, law's a good bargain, 33 00:01:49,160 --> 00:01:52,960 Speaker 3: and like he's approving of what Google is doing and 34 00:01:53,400 --> 00:01:54,120 Speaker 3: their capex. 35 00:01:54,160 --> 00:01:57,000 Speaker 4: So Alphabet is up fifty percent this year. 36 00:01:57,040 --> 00:01:59,360 Speaker 1: Paul Sweeney had a really interesting take on Bloomberg Intelligence. 37 00:01:59,400 --> 00:02:00,960 Speaker 1: He said, a lot of this is about what he 38 00:02:01,080 --> 00:02:03,920 Speaker 1: sees as a changing of the guard at Berkshire Hathaway, 39 00:02:03,960 --> 00:02:06,000 Speaker 1: because it was such a big deal when Warren Buffett 40 00:02:06,000 --> 00:02:08,440 Speaker 1: bought into Apple, you know, so many years ago, because 41 00:02:08,440 --> 00:02:10,760 Speaker 1: it was like, oh, well, he's finally buying into tech 42 00:02:11,600 --> 00:02:13,919 Speaker 1: and moving away from some of the quote unquote value 43 00:02:14,040 --> 00:02:15,360 Speaker 1: investing that he's famous for. 44 00:02:15,560 --> 00:02:17,560 Speaker 4: And with this news on Alphabet, right, he's been pairing 45 00:02:17,600 --> 00:02:20,919 Speaker 4: back even more his exposure to Apple exactly. Yeah, but 46 00:02:20,960 --> 00:02:22,840 Speaker 4: you're right, like, this was not an area he used 47 00:02:22,840 --> 00:02:24,880 Speaker 4: to play, but it does. It does remind of the 48 00:02:24,880 --> 00:02:27,640 Speaker 4: people that are taking the baton, if you will. 49 00:02:27,800 --> 00:02:31,160 Speaker 3: Yeah, Cfi said, we think Berkshire likely finds more comfort 50 00:02:31,200 --> 00:02:34,480 Speaker 3: investing in Google over other tech plays given the high 51 00:02:34,480 --> 00:02:36,960 Speaker 3: free cash flow potential of its core business coupled with 52 00:02:37,040 --> 00:02:38,079 Speaker 3: an attractive valuation. 53 00:02:38,320 --> 00:02:40,480 Speaker 1: Okay, so in terms of the way things are moving, 54 00:02:40,480 --> 00:02:43,040 Speaker 1: that's one end of the S and P five hundred. 55 00:02:43,080 --> 00:02:44,680 Speaker 1: The other end of the S and P five hundred. 56 00:02:44,760 --> 00:02:45,600 Speaker 1: What's going on with Dell? 57 00:02:45,800 --> 00:02:49,080 Speaker 3: Yeah, so a hardware name here, Dell Technologies took her 58 00:02:49,360 --> 00:02:51,520 Speaker 3: de l L. It's the worst performer in the S 59 00:02:51,520 --> 00:02:54,960 Speaker 3: and P five hundred today with a Morgan Stanley downgrade. 60 00:02:55,360 --> 00:02:58,840 Speaker 3: So the bank cut Dell from an overweight to an underweight, 61 00:02:58,880 --> 00:03:02,480 Speaker 3: which is quite We call that a two step down grade. 62 00:03:02,480 --> 00:03:04,160 Speaker 3: You know, it wasn't just overweight to hold, it was 63 00:03:04,200 --> 00:03:06,680 Speaker 3: all the way down to underweight. They cut a couple 64 00:03:06,720 --> 00:03:10,440 Speaker 3: other hardware names, basically saying that a memory super cycle 65 00:03:10,600 --> 00:03:14,480 Speaker 3: increasingly poses a risk to earnings of hardware original equipment 66 00:03:14,560 --> 00:03:18,680 Speaker 3: and design manufacturers. So they also cut ratings on HP 67 00:03:19,400 --> 00:03:24,960 Speaker 3: and Pegatron to underweight as well. Again, it's you know, 68 00:03:25,040 --> 00:03:27,520 Speaker 3: this year the trade RELLI in tech has been dominated 69 00:03:27,520 --> 00:03:33,320 Speaker 3: by AI software hardware not so much here, especially with 70 00:03:33,560 --> 00:03:35,080 Speaker 3: you know what Morgan Stanley's saying today. 71 00:03:35,160 --> 00:03:38,480 Speaker 4: Yeah, that's an interesting an interesting call. Yeah, definitely under 72 00:03:38,480 --> 00:03:39,480 Speaker 4: pressure step Hub. 73 00:03:39,880 --> 00:03:44,600 Speaker 3: Okay, so stub Hub shares tunneling as much as let 74 00:03:44,600 --> 00:03:47,200 Speaker 3: me get the intra day move right now, but the 75 00:03:47,240 --> 00:03:51,120 Speaker 3: stock is down right now about fifteen percent, falling to 76 00:03:51,520 --> 00:03:55,640 Speaker 3: a record intra day low. Yeah, and this is after 77 00:03:56,040 --> 00:03:59,920 Speaker 3: their first quarterly report after going public in September. This 78 00:04:00,160 --> 00:04:04,840 Speaker 3: is a ticketing platform. They didn't provide a forecast for 79 00:04:04,920 --> 00:04:08,840 Speaker 3: the current quarter, and Wall Street is not happy with this. 80 00:04:08,960 --> 00:04:12,960 Speaker 3: If you look at what evercore Isi said. They said, 81 00:04:13,120 --> 00:04:15,160 Speaker 3: despite the fact that we're over halfway through the quarter, 82 00:04:15,560 --> 00:04:18,599 Speaker 3: their surprise, the company didn't provide a guidance, and the 83 00:04:18,720 --> 00:04:21,599 Speaker 3: lack of that outlook arguably drove half of the stock 84 00:04:21,720 --> 00:04:25,640 Speaker 3: sell off. Right now again, that stock down fifteen percent. 85 00:04:25,360 --> 00:04:30,479 Speaker 2: Tim the Stock Mover's report from Bloomberg Radio. 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