WEBVTT - GM Lower; 3M Pops; Intel Rises

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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 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today. I'm Karen Moscow when we're joined by

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<v Speaker 3>a Bloomberg Stocks reporter, Isabelle Lee. And Isabelle, good morning.

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<v Speaker 3>We're getting some earnings this morning, we heard from GM.

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<v Speaker 3>So what's driving those results?

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<v Speaker 4>Good morning, Karen.

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<v Speaker 1>A lot of earnings actually, so it's an action packed Tuesday.

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<v Speaker 1>I had to pause a little bit there because I'm

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<v Speaker 1>still stock on Monday.

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<v Speaker 4>But thankfully we're moving along in the week.

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<v Speaker 1>GM the stock is higher, actually by oh no, it

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<v Speaker 1>slipped into the negative territory in pre market trade.

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<v Speaker 4>It's down by one and a half percent. So GM.

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<v Speaker 1>This comes after GM race its full year profit forecast

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<v Speaker 1>by another five hundred billion dollars, and that's after beating

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<v Speaker 1>second quarter earnings estimates. So this of course is powered

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<v Speaker 1>by stronger margins on the largest vehicle and of course

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<v Speaker 1>you guessed at lower tiff cost. So the company said

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<v Speaker 1>it now expects its earnings before income and taxes of

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<v Speaker 1>as much as sixteen billion dollars a year, So the

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<v Speaker 1>upgraded projections came after it already exceeded consensus forecasts. So

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<v Speaker 1>GM's brighter outlook came after a really top second quarter.

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<v Speaker 1>We saw US sales fell. This includes large pickup trucks

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<v Speaker 1>and SUVs. So I'm wondering why this stock is down

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<v Speaker 1>and I think I'm seeing this right. It's really down

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<v Speaker 1>at one and a half percent.

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<v Speaker 3>And it really just happened moments ago because right after

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<v Speaker 3>those earnings it did take a nice little jump there.

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<v Speaker 1>So yeah, interesting, Maybe we'll find out more after the

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<v Speaker 1>earnings call.

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<v Speaker 4>And may you hear what the CEO says?

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<v Speaker 3>Yeah, for sure. Well we also heard from Danaher that

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<v Speaker 3>stock decidedly lower, so we can be confident about that

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<v Speaker 3>at least.

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<v Speaker 4>Yeah, maybe there is that. So should we talk about

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<v Speaker 4>three m.

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<v Speaker 3>Oh wait our Danaher I was just here now, or

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<v Speaker 3>we can jump to three m sure, let's jup me three.

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<v Speaker 1>Yeah, okay, let's talk about that her real quick. The

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<v Speaker 1>stock I think is fluctuating. It's down down. Good, you're right.

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<v Speaker 1>After the life sciences firm gave core revenue growth guidance

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<v Speaker 1>for the third quarter that fell short of expectations. So

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<v Speaker 1>this is the thing with these firms, I feel like,

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<v Speaker 1>just a little disappointment and they really go down bad.

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<v Speaker 1>Sales came in at six point twenty seven billion dollars,

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<v Speaker 1>that's a little higher than the estimated six point one

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<v Speaker 1>billion dollars. Operating profit was one point thirteen billion dollars,

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<v Speaker 1>a little lower than the estimated one point nineteen billion.

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<v Speaker 1>And for the full year they see an adjusted EPs

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<v Speaker 1>so of around eight dollars and forty five.

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<v Speaker 4>Cents to eight dollars and sixty cents. That's just bang

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<v Speaker 4>in line of the estimates.

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<v Speaker 3>All right, So what about three M.

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<v Speaker 1>Yeah, I got excited with three AM because I always

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<v Speaker 1>think about stickers when I was younger. When I think

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<v Speaker 1>of three AM. The stock is popping up nearly six percent.

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<v Speaker 1>So three AM they top Wall Street expectations. They raised

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<v Speaker 1>their full year outlook. This is just a good sign

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<v Speaker 1>that the company's slow and steady turnaround effort is really

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<v Speaker 1>just proceeding despite all the broader economic volatility we're seeing.

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<v Speaker 1>So adjusted earnings will be around eight dollars and eighty

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<v Speaker 1>cents to eight dollars and ninety five cents a share.

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<v Speaker 4>That's higher than the previous range.

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<v Speaker 1>So the improved outlook also suggests that the CEO's plan

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<v Speaker 1>to really simplify three m's operation and bring new products

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<v Speaker 1>to market is seeing its fruition. I mean, I just

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<v Speaker 1>talked about the magic tape I see with I talk

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<v Speaker 1>about three AM, but it has a whole slew of

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<v Speaker 1>other products. And the company also had an adjusted earnings

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<v Speaker 1>of two dollars and forty cents a share. That's also

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<v Speaker 1>beating the estimates. So really a good day for three AM.

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<v Speaker 3>And with our last thirty seconds here, you're also watching

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<v Speaker 3>chip makers as a whole as well as Intel. We

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<v Speaker 3>are seeing a bit of a rebound this morning in futures,

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<v Speaker 3>So tell us what you're watching with chip makers.

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<v Speaker 1>Intel is ticker IONTC. It's up by five percent. So

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<v Speaker 1>I wanted to talk about chip makers because last week

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<v Speaker 1>they had a really bad week. We saw the semiconductor

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<v Speaker 1>index enter a bear market territory. But now we're seeing

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<v Speaker 1>a rebound in chip makers. It's driving the stock market higher.

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<v Speaker 1>You see nastac features higher, and this maybe tells us

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<v Speaker 1>that the sell of us more about short term puss

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<v Speaker 1>then a full bloom breakdown of the AI story. But

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<v Speaker 1>every day we get a headline, and every day the

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<v Speaker 1>AI narrative is tested, so we'll see.

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