1 00:00:02,520 --> 00:00:07,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,480 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,720 --> 00:00:18,040 Speaker 1: Let's ta go look at some of the stocks on 5 00:00:18,079 --> 00:00:20,280 Speaker 1: the move today with us as Bloomberg News Equities reporter, 6 00:00:20,520 --> 00:00:23,560 Speaker 1: a deputy team leader for US Equities, Carmen Rhinikey, she 7 00:00:23,720 --> 00:00:25,239 Speaker 1: is in the house. We're going to start with a 8 00:00:25,239 --> 00:00:25,880 Speaker 1: big chip name. 9 00:00:26,400 --> 00:00:28,680 Speaker 3: Yeah, Intel. I mean there's been a lot of Intel 10 00:00:28,720 --> 00:00:32,159 Speaker 3: news lately and today is no exception. This is ticker 11 00:00:32,280 --> 00:00:35,680 Speaker 3: I INTC shares spiked and they're up about five and 12 00:00:35,720 --> 00:00:38,120 Speaker 3: a half percent today after a report that the company 13 00:00:38,159 --> 00:00:41,159 Speaker 3: is in early stage talks to add AMD as a 14 00:00:41,159 --> 00:00:43,800 Speaker 3: customer at its factories. So, as I said, this is 15 00:00:43,840 --> 00:00:46,760 Speaker 3: the latest new string of deals that have boosted Intel 16 00:00:46,840 --> 00:00:49,440 Speaker 3: shares the last few months. They have gained support from 17 00:00:49,440 --> 00:00:52,160 Speaker 3: the White House, which is taking a I think roughly 18 00:00:52,200 --> 00:00:56,560 Speaker 3: ten percent stake in Nvidia and soft Bank, and we 19 00:00:56,600 --> 00:00:59,160 Speaker 3: also Bloomberg News how to report last week that it's 20 00:00:59,200 --> 00:01:02,360 Speaker 3: also in talk for backing from Apple. So all of 21 00:01:02,400 --> 00:01:07,000 Speaker 3: these things have been really liked by investors. We've seen 22 00:01:07,120 --> 00:01:08,120 Speaker 3: the stock release spike. 23 00:01:09,120 --> 00:01:11,720 Speaker 1: Yeah, and it's really just taken off this year of 24 00:01:11,720 --> 00:01:14,600 Speaker 1: seventy six percent here to date. As Tim and I 25 00:01:14,640 --> 00:01:16,640 Speaker 1: always say when we go to the HDS function on 26 00:01:16,680 --> 00:01:20,000 Speaker 1: the Bloomberg and we realize, oh, yeah, that's right, the 27 00:01:20,080 --> 00:01:22,360 Speaker 1: US government is the third biggest investor in the company. 28 00:01:22,600 --> 00:01:25,520 Speaker 4: Yep, not the only one that the US government is 29 00:01:25,560 --> 00:01:28,520 Speaker 4: an investor. Of course, we'll talk about some of those 30 00:01:28,560 --> 00:01:31,560 Speaker 4: a little later, including Lithium America's. But I wonder everybody's 31 00:01:31,560 --> 00:01:36,080 Speaker 4: attention to Peloton out with some new gears, new prices today. 32 00:01:36,520 --> 00:01:41,280 Speaker 3: Yeah, so Peloton ticker pton Pton shares our down six 33 00:01:41,360 --> 00:01:44,200 Speaker 3: point six percent today. This is the worst day since 34 00:01:45,000 --> 00:01:51,240 Speaker 3: August August nineteenth. So they're raising prices on both hardware 35 00:01:51,320 --> 00:01:55,000 Speaker 3: and membership fees and doing a big sort of product overhaul. 36 00:01:55,040 --> 00:01:57,560 Speaker 3: So I think the stock's probably reacting most to the 37 00:01:57,600 --> 00:02:00,800 Speaker 3: increased prices. But there are also going to be new 38 00:02:00,880 --> 00:02:04,040 Speaker 3: versions of the bike, bike plus, tread tread Plus and 39 00:02:04,080 --> 00:02:08,520 Speaker 3: a new row plus as as well as you know, 40 00:02:08,600 --> 00:02:13,040 Speaker 3: some new sort of features on the hardware. This is 41 00:02:13,080 --> 00:02:16,359 Speaker 3: interesting because so they have a newer CEO, Peter Stern, 42 00:02:16,400 --> 00:02:19,440 Speaker 3: who came from Apple and Ford, and he's really been 43 00:02:19,480 --> 00:02:22,120 Speaker 3: working to turn around the company. It's had quite like 44 00:02:22,200 --> 00:02:25,480 Speaker 3: a few years of sort of declining sales. The stock 45 00:02:25,480 --> 00:02:28,600 Speaker 3: hasn't been doing super well. In August, it had to 46 00:02:28,639 --> 00:02:31,600 Speaker 3: cut about six percent of its staff and reduced or 47 00:02:31,680 --> 00:02:34,720 Speaker 3: projected full year revenue would drop two percent for fiscal 48 00:02:34,760 --> 00:02:37,560 Speaker 3: twenty twenty six. So you know, this is sort of 49 00:02:37,600 --> 00:02:40,240 Speaker 3: the first step in like a potential turnaround for the company. 50 00:02:40,960 --> 00:02:43,359 Speaker 3: So interesting to see that investors so far are not 51 00:02:43,600 --> 00:02:45,320 Speaker 3: are not happy with with what they've come out with. 52 00:02:45,600 --> 00:02:47,480 Speaker 1: All right, Reddit, we go our dd. 53 00:02:48,080 --> 00:02:49,320 Speaker 4: This what's going on with Reddit? 54 00:02:49,400 --> 00:02:50,800 Speaker 3: It was a little bit of a head scratcher. This 55 00:02:50,880 --> 00:02:53,240 Speaker 3: morning shows are down twelve percent. This is the worst 56 00:02:53,240 --> 00:02:56,200 Speaker 3: intra day drop since April fourth, which is kind of 57 00:02:56,200 --> 00:02:58,040 Speaker 3: big if you think about what was happening in April. 58 00:02:58,080 --> 00:03:00,639 Speaker 3: So huge drop for Reddit. So so what it seems 59 00:03:00,639 --> 00:03:03,640 Speaker 3: like is happening is that there is third party data 60 00:03:03,680 --> 00:03:06,680 Speaker 3: that's been going around on social media showing a drop 61 00:03:06,680 --> 00:03:10,640 Speaker 3: in citations from open ai. So Reddit, you know, it's 62 00:03:10,680 --> 00:03:14,280 Speaker 3: been used by sort of these large language models like 63 00:03:14,280 --> 00:03:15,919 Speaker 3: to help train them. 64 00:03:16,120 --> 00:03:17,080 Speaker 2: So als been. 65 00:03:17,040 --> 00:03:19,000 Speaker 1: Part of I thought the IPO right and the value 66 00:03:19,040 --> 00:03:20,880 Speaker 1: of the company that all of the data and the 67 00:03:21,000 --> 00:03:25,679 Speaker 1: very specific data that it could provide to AI companies 68 00:03:25,680 --> 00:03:26,520 Speaker 1: and others. 69 00:03:26,400 --> 00:03:28,600 Speaker 3: Exactly, and so I think that's why the stock is 70 00:03:28,639 --> 00:03:31,399 Speaker 3: reacting negatively to this. There's also been a few analysts 71 00:03:31,400 --> 00:03:34,400 Speaker 3: that have written about it. So Bloomberg Intelligence's man Deep 72 00:03:34,480 --> 00:03:38,960 Speaker 3: Singh shows that this decline is you know, it really 73 00:03:39,280 --> 00:03:42,520 Speaker 3: signals redd its exposure to search engine traffic. There might 74 00:03:42,600 --> 00:03:43,960 Speaker 3: this might have been because a little bit of a 75 00:03:44,000 --> 00:03:49,800 Speaker 3: switch in Google algorithm and how a lot of it's 76 00:03:49,920 --> 00:03:52,680 Speaker 3: you know, traffic and daily active user growth really hinges 77 00:03:52,720 --> 00:03:56,360 Speaker 3: on use from these sorts of chatbots. Brad Erickson and 78 00:03:56,520 --> 00:03:59,840 Speaker 3: RBC also it attributed sort of this stock weakness to this, 79 00:04:00,280 --> 00:04:04,360 Speaker 3: and he this is something that he's been watching for 80 00:04:05,240 --> 00:04:08,560 Speaker 3: the last few weeks, showing that the citation share on 81 00:04:08,920 --> 00:04:10,840 Speaker 3: GPT has gone down significantly. 82 00:04:11,920 --> 00:04:16,160 Speaker 2: The Stockmovers report from Bloomberg Radio. Check back with us 83 00:04:16,160 --> 00:04:18,960 Speaker 2: throughout the day for the latest roundup of companies making 84 00:04:19,040 --> 00:04:22,640 Speaker 2: news on Wall Street and for the latest market moving headlines. 85 00:04:22,880 --> 00:04:26,880 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 86 00:04:26,920 --> 00:04:30,000 Speaker 2: dot com, and on Applecarplay and Android Auto with the 87 00:04:30,040 --> 00:04:31,400 Speaker 2: Bloomberg Business app.