Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move
Speaker 1: today with us is Bloomberg News Cross Asset reporter Emily Graffeo.
Speaker 1: Let's start with a big tech company exactly.
Speaker 3: Okay, Google Alphabets subsidiary. I was going to say the
Speaker 3: parent company, but parent alphabet is IPS. We all call it.
Speaker 3: The ticker is Google. G is alphabet, the parent is alphabet.
Speaker 3: So you know we'll hit a record in today. Hi guys, Yes,
Speaker 3: and stall On Warren Buffetts, mom and dad.
Speaker 4: You figure it out, And I'm going to.
Speaker 2: Go ahead do stock.
Speaker 3: Berkshire Hathaway disclosing a steak in the company. This is
Speaker 3: a big deal for a company.
Speaker 4: You don't like this slid under the radar a little bit,
Speaker 4: I know, because this is the weekend or something like.
Speaker 4: It felt like it came to light.
Speaker 3: Yeah, and this is the first time that there's a
Speaker 3: stake in this company from Buffett.
Speaker 2: Yeah.
Speaker 3: So I mean even though you're, you know, a megacap
Speaker 3: tech company, there's still some excitement here. When the oracle
Speaker 3: of Omaha is buying your stock. So he acquired seventeen
Speaker 3: point nine million shares of Google par parent Alphabet during
Speaker 3: the third quarter and then trimmed Bank of American Apple holdings.
Speaker 3: So now Berkshire's Alphabet steak is about zero point three
Speaker 3: one percent of the outstanding shares. A couple of people
Speaker 3: on Wall Street said, this is this is good for Google.
Speaker 3: It's bringing investors confidence that this is a company that's
Speaker 3: spending a lot. And then you have this investor who's
Speaker 3: very cash conscious and loves you know, law's a good bargain,
Speaker 3: and like he's approving of what Google is doing and
Speaker 3: their capex.
Speaker 4: So Alphabet is up fifty percent this year.
Speaker 1: Paul Sweeney had a really interesting take on Bloomberg Intelligence.
Speaker 1: He said, a lot of this is about what he
Speaker 1: sees as a changing of the guard at Berkshire Hathaway,
Speaker 1: because it was such a big deal when Warren Buffett
Speaker 1: bought into Apple, you know, so many years ago, because
Speaker 1: it was like, oh, well, he's finally buying into tech
Speaker 1: and moving away from some of the quote unquote value
Speaker 1: investing that he's famous for.
Speaker 4: And with this news on Alphabet, right, he's been pairing
Speaker 4: back even more his exposure to Apple exactly. Yeah, but
Speaker 4: you're right, like, this was not an area he used
Speaker 4: to play, but it does. It does remind of the
Speaker 4: people that are taking the baton, if you will.
Speaker 3: Yeah, Cfi said, we think Berkshire likely finds more comfort
Speaker 3: investing in Google over other tech plays given the high
Speaker 3: free cash flow potential of its core business coupled with
Speaker 3: an attractive valuation.
Speaker 1: Okay, so in terms of the way things are moving,
Speaker 1: that's one end of the S and P five hundred.
Speaker 1: The other end of the S and P five hundred.
Speaker 1: What's going on with Dell?
Speaker 3: Yeah, so a hardware name here, Dell Technologies took her
Speaker 3: de l L. It's the worst performer in the S
Speaker 3: and P five hundred today with a Morgan Stanley downgrade.
Speaker 3: So the bank cut Dell from an overweight to an underweight,
Speaker 3: which is quite We call that a two step down grade.
Speaker 3: You know, it wasn't just overweight to hold, it was
Speaker 3: all the way down to underweight. They cut a couple
Speaker 3: other hardware names, basically saying that a memory super cycle
Speaker 3: increasingly poses a risk to earnings of hardware original equipment
Speaker 3: and design manufacturers. So they also cut ratings on HP
Speaker 3: and Pegatron to underweight as well. Again, it's you know,
Speaker 3: this year the trade RELLI in tech has been dominated
Speaker 3: by AI software hardware not so much here, especially with
Speaker 3: you know what Morgan Stanley's saying today.
Speaker 4: Yeah, that's an interesting an interesting call. Yeah, definitely under
Speaker 4: pressure step Hub.
Speaker 3: Okay, so stub Hub shares tunneling as much as let
Speaker 3: me get the intra day move right now, but the
Speaker 3: stock is down right now about fifteen percent, falling to
Speaker 3: a record intra day low. Yeah, and this is after
Speaker 3: their first quarterly report after going public in September. This
Speaker 3: is a ticketing platform. They didn't provide a forecast for
Speaker 3: the current quarter, and Wall Street is not happy with this.
Speaker 3: If you look at what evercore Isi said. They said,
Speaker 3: despite the fact that we're over halfway through the quarter,
Speaker 3: their surprise, the company didn't provide a guidance, and the
Speaker 3: lack of that outlook arguably drove half of the stock
Speaker 3: sell off. Right now again, that stock down fifteen percent.
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