WEBVTT - Oracle Falls After Earnings, GE Vernova Soars, Uber Declines on Analyst Concerns

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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

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<v Speaker 1>I'm Tim Steeveeck along with Carol Master. Let's take a

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<v Speaker 1>look at some stocks on the move today. We're joined

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<v Speaker 1>by Bloomberg News Equities reporter Natalia Kenny Jvich. Natalia. A

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<v Speaker 1>lot moving in the after hours.

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<v Speaker 3>A lot. So let's start with the biggest post market

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<v Speaker 3>stock mover, or Oracle, the tickers O r CL. The

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<v Speaker 3>stock is down by six point five percent on posting

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<v Speaker 3>disappointing cloud revenue. So basically, fiscal second quarter cloud sales

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<v Speaker 3>increased thirty four percent, revenue four in infrastructure business jumped

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<v Speaker 3>sixty eight percent, but both those metrics they came below expectations.

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<v Speaker 3>The company is now engaging in this big data center

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<v Speaker 3>buildout to power. Of course, this ai work for open Ai.

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<v Speaker 3>It also has clients like Biden says TikTok Meta Platforms

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<v Speaker 3>as some of its customers. However, there's a lot of

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<v Speaker 3>skepticism among investors because they think that there's a lot

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<v Speaker 3>of competition from companies like Alphabet. So it's still there

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<v Speaker 3>are lots of unknowns in the future for the company.

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<v Speaker 4>There's a lot of nervousness when it comes to Oracle.

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<v Speaker 4>I mean the stock is slid about thirty percent I

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<v Speaker 4>think since hitting a record just a few months ago,

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<v Speaker 4>and so it's done I think about thirty percent, and

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<v Speaker 4>then you're just seeing it continue to trade lower. So

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<v Speaker 4>there is nervousness about the spend and build out, right.

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<v Speaker 1>I think that's the concern going into it too, was like, yeah,

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<v Speaker 1>exactly what's going on? And you know, we saw it

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<v Speaker 1>with credit default swaps just a few weeks ago, and

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<v Speaker 1>I think and look, we're talking about this recording this

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<v Speaker 1>at a time where we haven't listened to the call yet.

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<v Speaker 1>So you said, and you made the point on our

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<v Speaker 1>program today, Carol, that this is going to be a

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<v Speaker 1>main question on the call.

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<v Speaker 4>Yeah.

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<v Speaker 1>So, and also are going to want to know about

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<v Speaker 1>the debt.

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<v Speaker 4>Means it's a little hand good to the Bloomberg a

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<v Speaker 4>little bit later on.

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<v Speaker 1>All right, So Oracle on your radar. Also g e

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<v Speaker 1>Veranova ticker ge V.

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<v Speaker 4>I love this stock.

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<v Speaker 1>Why do you love it? I just think it's just

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<v Speaker 1>the spin off.

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<v Speaker 4>Yeah, I think the spinoff story. The background, Remember when

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<v Speaker 4>GE was just a huge conglomerate, everything under and then

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<v Speaker 4>they spun off.

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<v Speaker 1>The GE was the company, it was the aconomy. They

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<v Speaker 1>were in everything. They were in financial services, they were

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<v Speaker 1>in industrial state media. I mean, yeah, so it's a

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<v Speaker 1>very different g Vernova is very different than what GI

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<v Speaker 1>was back in the day.

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<v Speaker 3>We're doing well, doing well. This is the best performance

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<v Speaker 3>stock in the S and P five hundred today. It's

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<v Speaker 3>a by fifteen almost sixteen percent today. And this is

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<v Speaker 3>also now your AI infrastructure story, because right we see

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<v Speaker 3>that the company is benefiting from this demand for electricity,

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<v Speaker 3>driven of course by data centers, AI overall electrification of

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<v Speaker 3>the economy. However, I should point out that win the

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<v Speaker 3>business was the weakest spot. Nevertheless, we saw an upgrade

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<v Speaker 3>from Oppenheimer and the analysts said that despite this wind,

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<v Speaker 3>business underperformed. The magnitude of AI infrastructure built out is

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<v Speaker 3>becoming much bigger and lasting longer than they previously expected.

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<v Speaker 3>The price target was said that eight hundred and fifty

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<v Speaker 3>five dollars.

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<v Speaker 4>Stock close at seven twenty three. Stock is up almost

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<v Speaker 4>one hundred and twenty percent year today. That's amazing.

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<v Speaker 1>Okay, so that's certainly one stock that moved higher today.

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<v Speaker 1>A stock that did not move higher today and in

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<v Speaker 1>fact moved lower was Uber. Gig economy stocks took a

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<v Speaker 1>real hit today, Natalia, what's going on exactly?

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<v Speaker 3>So Uber the taker as Uber is down by five

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<v Speaker 3>point five percent today. This came after a Webbush analyst

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<v Speaker 3>raised some concerns and specifically they said that Tesla and

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<v Speaker 3>Way more ramping up their autonomous vehicle efforts into twenty

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<v Speaker 3>twenty six and that could be a big disruption for

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<v Speaker 3>companies like Uber like and they say twenty twenty six

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<v Speaker 3>could be a very painful year. This is a quote

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<v Speaker 3>for both companies. And he also said that many people

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<v Speaker 3>just underestimate how negative the impact from avs could be

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<v Speaker 3>for this traditional drivers.

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<v Speaker 1>Remember Uber had this whole autonomous vehicle under Travis Kalanik,

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<v Speaker 1>like they were doing this, Yeah, and they sold it

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<v Speaker 1>off a few years ago because it was expensive and

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<v Speaker 1>shareholders didn't necessarily love it. But I mean this was

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<v Speaker 1>the ultimate goal was create And that's what Elon's trying

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<v Speaker 1>to do with Tesla Robotaxi, like create a service that

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<v Speaker 1>doesn't actually involve human drivers.

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<v Speaker 4>And then there's weymos.

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<v Speaker 1>Well that's the point, right, Love weimos.

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<v Speaker 4>Have you been in a Wemo Never? Oh my god,

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<v Speaker 4>it is heavenly. It's like going into a spa. I

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<v Speaker 4>mean the music is spa, like there's nobody in there.

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<v Speaker 4>It's like an really spotless car.

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<v Speaker 1>Carol's always raised your hand to go to California.

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<v Speaker 4>Everything I know, I make sure I get in a way.

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<v Speaker 2>Milt is a couple of times the Stockmovers Report from

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<v Speaker 2>Bloomberg Radio. Check back with us throughout the day for

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<v Speaker 2>the latest roundup of companies making news on Wall Street

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<v Speaker 2>and for the latest market moving headlines. Listen to Bloomberg

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