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: I'm Tim Steeveeck along with Carol Master. Let's take a
Speaker 1: look at some stocks on the move today. We're joined
Speaker 1: by Bloomberg News Equities reporter Natalia Kenny Jvich. Natalia. A
Speaker 1: lot moving in the after hours.
Speaker 3: A lot. So let's start with the biggest post market
Speaker 3: stock mover, or Oracle, the tickers O r CL. The
Speaker 3: stock is down by six point five percent on posting
Speaker 3: disappointing cloud revenue. So basically, fiscal second quarter cloud sales
Speaker 3: increased thirty four percent, revenue four in infrastructure business jumped
Speaker 3: sixty eight percent, but both those metrics they came below expectations.
Speaker 3: The company is now engaging in this big data center
Speaker 3: buildout to power. Of course, this ai work for open Ai.
Speaker 3: It also has clients like Biden says TikTok Meta Platforms
Speaker 3: as some of its customers. However, there's a lot of
Speaker 3: skepticism among investors because they think that there's a lot
Speaker 3: of competition from companies like Alphabet. So it's still there
Speaker 3: are lots of unknowns in the future for the company.
Speaker 4: There's a lot of nervousness when it comes to Oracle.
Speaker 4: I mean the stock is slid about thirty percent I
Speaker 4: think since hitting a record just a few months ago,
Speaker 4: and so it's done I think about thirty percent, and
Speaker 4: then you're just seeing it continue to trade lower. So
Speaker 4: there is nervousness about the spend and build out, right.
Speaker 1: I think that's the concern going into it too, was like, yeah,
Speaker 1: exactly what's going on? And you know, we saw it
Speaker 1: with credit default swaps just a few weeks ago, and
Speaker 1: I think and look, we're talking about this recording this
Speaker 1: at a time where we haven't listened to the call yet.
Speaker 1: So you said, and you made the point on our
Speaker 1: program today, Carol, that this is going to be a
Speaker 1: main question on the call.
Speaker 4: Yeah.
Speaker 1: So, and also are going to want to know about
Speaker 1: the debt.
Speaker 4: Means it's a little hand good to the Bloomberg a
Speaker 4: little bit later on.
Speaker 1: All right, So Oracle on your radar. Also g e
Speaker 1: Veranova ticker ge V.
Speaker 4: I love this stock.
Speaker 1: Why do you love it? I just think it's just
Speaker 1: the spin off.
Speaker 4: Yeah, I think the spinoff story. The background, Remember when
Speaker 4: GE was just a huge conglomerate, everything under and then
Speaker 4: they spun off.
Speaker 1: The GE was the company, it was the aconomy. They
Speaker 1: were in everything. They were in financial services, they were
Speaker 1: in industrial state media. I mean, yeah, so it's a
Speaker 1: very different g Vernova is very different than what GI
Speaker 1: was back in the day.
Speaker 3: We're doing well, doing well. This is the best performance
Speaker 3: stock in the S and P five hundred today. It's
Speaker 3: a by fifteen almost sixteen percent today. And this is
Speaker 3: also now your AI infrastructure story, because right we see
Speaker 3: that the company is benefiting from this demand for electricity,
Speaker 3: driven of course by data centers, AI overall electrification of
Speaker 3: the economy. However, I should point out that win the
Speaker 3: business was the weakest spot. Nevertheless, we saw an upgrade
Speaker 3: from Oppenheimer and the analysts said that despite this wind,
Speaker 3: business underperformed. The magnitude of AI infrastructure built out is
Speaker 3: becoming much bigger and lasting longer than they previously expected.
Speaker 3: The price target was said that eight hundred and fifty
Speaker 3: five dollars.
Speaker 4: Stock close at seven twenty three. Stock is up almost
Speaker 4: one hundred and twenty percent year today. That's amazing.
Speaker 1: Okay, so that's certainly one stock that moved higher today.
Speaker 1: A stock that did not move higher today and in
Speaker 1: fact moved lower was Uber. Gig economy stocks took a
Speaker 1: real hit today, Natalia, what's going on exactly?
Speaker 3: So Uber the taker as Uber is down by five
Speaker 3: point five percent today. This came after a Webbush analyst
Speaker 3: raised some concerns and specifically they said that Tesla and
Speaker 3: Way more ramping up their autonomous vehicle efforts into twenty
Speaker 3: twenty six and that could be a big disruption for
Speaker 3: companies like Uber like and they say twenty twenty six
Speaker 3: could be a very painful year. This is a quote
Speaker 3: for both companies. And he also said that many people
Speaker 3: just underestimate how negative the impact from avs could be
Speaker 3: for this traditional drivers.
Speaker 1: Remember Uber had this whole autonomous vehicle under Travis Kalanik,
Speaker 1: like they were doing this, Yeah, and they sold it
Speaker 1: off a few years ago because it was expensive and
Speaker 1: shareholders didn't necessarily love it. But I mean this was
Speaker 1: the ultimate goal was create And that's what Elon's trying
Speaker 1: to do with Tesla Robotaxi, like create a service that
Speaker 1: doesn't actually involve human drivers.
Speaker 4: And then there's weymos.
Speaker 1: Well that's the point, right, Love weimos.
Speaker 4: Have you been in a Wemo Never? Oh my god,
Speaker 4: it is heavenly. It's like going into a spa. I
Speaker 4: mean the music is spa, like there's nobody in there.
Speaker 4: It's like an really spotless car.
Speaker 1: Carol's always raised your hand to go to California.
Speaker 4: Everything I know, I make sure I get in a way.
Speaker 2: Milt is a couple of times the Stockmovers Report from
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Speaker 2: the latest roundup of companies making news on Wall Street
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