Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's ta go look at some of the stocks on
Speaker 1: the move today with us as Bloomberg News Equities reporter,
Speaker 1: a deputy team leader for US Equities, Carmen Rhinikey, she
Speaker 1: is in the house. We're going to start with a
Speaker 1: big chip name.
Speaker 3: Yeah, Intel. I mean there's been a lot of Intel
Speaker 3: news lately and today is no exception. This is ticker
Speaker 3: I INTC shares spiked and they're up about five and
Speaker 3: a half percent today after a report that the company
Speaker 3: is in early stage talks to add AMD as a
Speaker 3: customer at its factories. So, as I said, this is
Speaker 3: the latest new string of deals that have boosted Intel
Speaker 3: shares the last few months. They have gained support from
Speaker 3: the White House, which is taking a I think roughly
Speaker 3: ten percent stake in Nvidia and soft Bank, and we
Speaker 3: also Bloomberg News how to report last week that it's
Speaker 3: also in talk for backing from Apple. So all of
Speaker 3: these things have been really liked by investors. We've seen
Speaker 3: the stock release spike.
Speaker 1: Yeah, and it's really just taken off this year of
Speaker 1: seventy six percent here to date. As Tim and I
Speaker 1: always say when we go to the HDS function on
Speaker 1: the Bloomberg and we realize, oh, yeah, that's right, the
Speaker 1: US government is the third biggest investor in the company.
Speaker 4: Yep, not the only one that the US government is
Speaker 4: an investor. Of course, we'll talk about some of those
Speaker 4: a little later, including Lithium America's. But I wonder everybody's
Speaker 4: attention to Peloton out with some new gears, new prices today.
Speaker 3: Yeah, so Peloton ticker pton Pton shares our down six
Speaker 3: point six percent today. This is the worst day since
Speaker 3: August August nineteenth. So they're raising prices on both hardware
Speaker 3: and membership fees and doing a big sort of product overhaul.
Speaker 3: So I think the stock's probably reacting most to the
Speaker 3: increased prices. But there are also going to be new
Speaker 3: versions of the bike, bike plus, tread tread Plus and
Speaker 3: a new row plus as as well as you know,
Speaker 3: some new sort of features on the hardware. This is
Speaker 3: interesting because so they have a newer CEO, Peter Stern,
Speaker 3: who came from Apple and Ford, and he's really been
Speaker 3: working to turn around the company. It's had quite like
Speaker 3: a few years of sort of declining sales. The stock
Speaker 3: hasn't been doing super well. In August, it had to
Speaker 3: cut about six percent of its staff and reduced or
Speaker 3: projected full year revenue would drop two percent for fiscal
Speaker 3: twenty twenty six. So you know, this is sort of
Speaker 3: the first step in like a potential turnaround for the company.
Speaker 3: So interesting to see that investors so far are not
Speaker 3: are not happy with with what they've come out with.
Speaker 1: All right, Reddit, we go our dd.
Speaker 4: This what's going on with Reddit?
Speaker 3: It was a little bit of a head scratcher. This
Speaker 3: morning shows are down twelve percent. This is the worst
Speaker 3: intra day drop since April fourth, which is kind of
Speaker 3: big if you think about what was happening in April.
Speaker 3: So huge drop for Reddit. So so what it seems
Speaker 3: like is happening is that there is third party data
Speaker 3: that's been going around on social media showing a drop
Speaker 3: in citations from open ai. So Reddit, you know, it's
Speaker 3: been used by sort of these large language models like
Speaker 3: to help train them.
Speaker 2: So als been.
Speaker 1: Part of I thought the IPO right and the value
Speaker 1: of the company that all of the data and the
Speaker 1: very specific data that it could provide to AI companies
Speaker 1: and others.
Speaker 3: Exactly, and so I think that's why the stock is
Speaker 3: reacting negatively to this. There's also been a few analysts
Speaker 3: that have written about it. So Bloomberg Intelligence's man Deep
Speaker 3: Singh shows that this decline is you know, it really
Speaker 3: signals redd its exposure to search engine traffic. There might
Speaker 3: this might have been because a little bit of a
Speaker 3: switch in Google algorithm and how a lot of it's
Speaker 3: you know, traffic and daily active user growth really hinges
Speaker 3: on use from these sorts of chatbots. Brad Erickson and
Speaker 3: RBC also it attributed sort of this stock weakness to this,
Speaker 3: and he this is something that he's been watching for
Speaker 3: the last few weeks, showing that the citation share on
Speaker 3: GPT has gone down significantly.
Speaker 2: The Stockmovers report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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