WEBVTT - Alphabet Leads Big Tech Gains, Dell Falls, StubHub Sinks

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move

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<v Speaker 1>today with us is Bloomberg News Cross Asset reporter Emily Graffeo.

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<v Speaker 1>Let's start with a big tech company exactly.

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<v Speaker 3>Okay, Google Alphabets subsidiary. I was going to say the

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<v Speaker 3>parent company, but parent alphabet is IPS. We all call it.

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<v Speaker 3>The ticker is Google. G is alphabet, the parent is alphabet.

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<v Speaker 3>So you know we'll hit a record in today. Hi guys, Yes,

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<v Speaker 3>and stall On Warren Buffetts, mom and dad.

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<v Speaker 4>You figure it out, And I'm going to.

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<v Speaker 2>Go ahead do stock.

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<v Speaker 3>Berkshire Hathaway disclosing a steak in the company. This is

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<v Speaker 3>a big deal for a company.

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<v Speaker 4>You don't like this slid under the radar a little bit,

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<v Speaker 4>I know, because this is the weekend or something like.

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<v Speaker 4>It felt like it came to light.

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<v Speaker 3>Yeah, and this is the first time that there's a

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<v Speaker 3>stake in this company from Buffett.

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<v Speaker 2>Yeah.

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<v Speaker 3>So I mean even though you're, you know, a megacap

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<v Speaker 3>tech company, there's still some excitement here. When the oracle

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<v Speaker 3>of Omaha is buying your stock. So he acquired seventeen

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<v Speaker 3>point nine million shares of Google par parent Alphabet during

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<v Speaker 3>the third quarter and then trimmed Bank of American Apple holdings.

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<v Speaker 3>So now Berkshire's Alphabet steak is about zero point three

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<v Speaker 3>one percent of the outstanding shares. A couple of people

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<v Speaker 3>on Wall Street said, this is this is good for Google.

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<v Speaker 3>It's bringing investors confidence that this is a company that's

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<v Speaker 3>spending a lot. And then you have this investor who's

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<v Speaker 3>very cash conscious and loves you know, law's a good bargain,

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<v Speaker 3>and like he's approving of what Google is doing and

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<v Speaker 3>their capex.

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<v Speaker 4>So Alphabet is up fifty percent this year.

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<v Speaker 1>Paul Sweeney had a really interesting take on Bloomberg Intelligence.

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<v Speaker 1>He said, a lot of this is about what he

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<v Speaker 1>sees as a changing of the guard at Berkshire Hathaway,

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<v Speaker 1>because it was such a big deal when Warren Buffett

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<v Speaker 1>bought into Apple, you know, so many years ago, because

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<v Speaker 1>it was like, oh, well, he's finally buying into tech

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<v Speaker 1>and moving away from some of the quote unquote value

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<v Speaker 1>investing that he's famous for.

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<v Speaker 4>And with this news on Alphabet, right, he's been pairing

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<v Speaker 4>back even more his exposure to Apple exactly. Yeah, but

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<v Speaker 4>you're right, like, this was not an area he used

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<v Speaker 4>to play, but it does. It does remind of the

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<v Speaker 4>people that are taking the baton, if you will.

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<v Speaker 3>Yeah, Cfi said, we think Berkshire likely finds more comfort

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<v Speaker 3>investing in Google over other tech plays given the high

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<v Speaker 3>free cash flow potential of its core business coupled with

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<v Speaker 3>an attractive valuation.

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<v Speaker 1>Okay, so in terms of the way things are moving,

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<v Speaker 1>that's one end of the S and P five hundred.

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<v Speaker 1>The other end of the S and P five hundred.

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<v Speaker 1>What's going on with Dell?

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<v Speaker 3>Yeah, so a hardware name here, Dell Technologies took her

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<v Speaker 3>de l L. It's the worst performer in the S

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<v Speaker 3>and P five hundred today with a Morgan Stanley downgrade.

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<v Speaker 3>So the bank cut Dell from an overweight to an underweight,

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<v Speaker 3>which is quite We call that a two step down grade.

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<v Speaker 3>You know, it wasn't just overweight to hold, it was

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<v Speaker 3>all the way down to underweight. They cut a couple

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<v Speaker 3>other hardware names, basically saying that a memory super cycle

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<v Speaker 3>increasingly poses a risk to earnings of hardware original equipment

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<v Speaker 3>and design manufacturers. So they also cut ratings on HP

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<v Speaker 3>and Pegatron to underweight as well. Again, it's you know,

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<v Speaker 3>this year the trade RELLI in tech has been dominated

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<v Speaker 3>by AI software hardware not so much here, especially with

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<v Speaker 3>you know what Morgan Stanley's saying today.

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<v Speaker 4>Yeah, that's an interesting an interesting call. Yeah, definitely under

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<v Speaker 4>pressure step Hub.

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<v Speaker 3>Okay, so stub Hub shares tunneling as much as let

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<v Speaker 3>me get the intra day move right now, but the

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<v Speaker 3>stock is down right now about fifteen percent, falling to

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<v Speaker 3>a record intra day low. Yeah, and this is after

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<v Speaker 3>their first quarterly report after going public in September. This

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<v Speaker 3>is a ticketing platform. They didn't provide a forecast for

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<v Speaker 3>the current quarter, and Wall Street is not happy with this.

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<v Speaker 3>If you look at what evercore Isi said. They said,

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<v Speaker 3>despite the fact that we're over halfway through the quarter,

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<v Speaker 3>their surprise, the company didn't provide a guidance, and the

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<v Speaker 3>lack of that outlook arguably drove half of the stock

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<v Speaker 3>sell off. Right now again, that stock down fifteen percent.

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<v Speaker 2>Tim the Stock Mover's report from Bloomberg Radio. Check back

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