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 3: Let's take a look at some of the stocks on
Speaker 3: the move today. I'm Karen Moscow when we're joined by
Speaker 3: a Bloomberg Stocks reporter, Isabelle Lee. And Isabelle, good morning.
Speaker 3: We're getting some earnings this morning, we heard from GM.
Speaker 3: So what's driving those results?
Speaker 4: Good morning, Karen.
Speaker 1: A lot of earnings actually, so it's an action packed Tuesday.
Speaker 1: I had to pause a little bit there because I'm
Speaker 1: still stock on Monday.
Speaker 4: But thankfully we're moving along in the week.
Speaker 1: GM the stock is higher, actually by oh no, it
Speaker 1: slipped into the negative territory in pre market trade.
Speaker 4: It's down by one and a half percent. So GM.
Speaker 1: This comes after GM race its full year profit forecast
Speaker 1: by another five hundred billion dollars, and that's after beating
Speaker 1: second quarter earnings estimates. So this of course is powered
Speaker 1: by stronger margins on the largest vehicle and of course
Speaker 1: you guessed at lower tiff cost. So the company said
Speaker 1: it now expects its earnings before income and taxes of
Speaker 1: as much as sixteen billion dollars a year, So the
Speaker 1: upgraded projections came after it already exceeded consensus forecasts. So
Speaker 1: GM's brighter outlook came after a really top second quarter.
Speaker 1: We saw US sales fell. This includes large pickup trucks
Speaker 1: and SUVs. So I'm wondering why this stock is down
Speaker 1: and I think I'm seeing this right. It's really down
Speaker 1: at one and a half percent.
Speaker 3: And it really just happened moments ago because right after
Speaker 3: those earnings it did take a nice little jump there.
Speaker 1: So yeah, interesting, Maybe we'll find out more after the
Speaker 1: earnings call.
Speaker 4: And may you hear what the CEO says?
Speaker 3: Yeah, for sure. Well we also heard from Danaher that
Speaker 3: stock decidedly lower, so we can be confident about that
Speaker 3: at least.
Speaker 4: Yeah, maybe there is that. So should we talk about
Speaker 4: three m.
Speaker 3: Oh wait our Danaher I was just here now, or
Speaker 3: we can jump to three m sure, let's jup me three.
Speaker 1: Yeah, okay, let's talk about that her real quick. The
Speaker 1: stock I think is fluctuating. It's down down. Good, you're right.
Speaker 1: After the life sciences firm gave core revenue growth guidance
Speaker 1: for the third quarter that fell short of expectations. So
Speaker 1: this is the thing with these firms, I feel like,
Speaker 1: just a little disappointment and they really go down bad.
Speaker 1: Sales came in at six point twenty seven billion dollars,
Speaker 1: that's a little higher than the estimated six point one
Speaker 1: billion dollars. Operating profit was one point thirteen billion dollars,
Speaker 1: a little lower than the estimated one point nineteen billion.
Speaker 1: And for the full year they see an adjusted EPs
Speaker 1: so of around eight dollars and forty five.
Speaker 4: Cents to eight dollars and sixty cents. That's just bang
Speaker 4: in line of the estimates.
Speaker 3: All right, So what about three M.
Speaker 1: Yeah, I got excited with three AM because I always
Speaker 1: think about stickers when I was younger. When I think
Speaker 1: of three AM. The stock is popping up nearly six percent.
Speaker 1: So three AM they top Wall Street expectations. They raised
Speaker 1: their full year outlook. This is just a good sign
Speaker 1: that the company's slow and steady turnaround effort is really
Speaker 1: just proceeding despite all the broader economic volatility we're seeing.
Speaker 1: So adjusted earnings will be around eight dollars and eighty
Speaker 1: cents to eight dollars and ninety five cents a share.
Speaker 4: That's higher than the previous range.
Speaker 1: So the improved outlook also suggests that the CEO's plan
Speaker 1: to really simplify three m's operation and bring new products
Speaker 1: to market is seeing its fruition. I mean, I just
Speaker 1: talked about the magic tape I see with I talk
Speaker 1: about three AM, but it has a whole slew of
Speaker 1: other products. And the company also had an adjusted earnings
Speaker 1: of two dollars and forty cents a share. That's also
Speaker 1: beating the estimates. So really a good day for three AM.
Speaker 3: And with our last thirty seconds here, you're also watching
Speaker 3: chip makers as a whole as well as Intel. We
Speaker 3: are seeing a bit of a rebound this morning in futures,
Speaker 3: So tell us what you're watching with chip makers.
Speaker 1: Intel is ticker IONTC. It's up by five percent. So
Speaker 1: I wanted to talk about chip makers because last week
Speaker 1: they had a really bad week. We saw the semiconductor
Speaker 1: index enter a bear market territory. But now we're seeing
Speaker 1: a rebound in chip makers. It's driving the stock market higher.
Speaker 1: You see nastac features higher, and this maybe tells us
Speaker 1: that the sell of us more about short term puss
Speaker 1: then a full bloom breakdown of the AI story. But
Speaker 1: every day we get a headline, and every day the
Speaker 1: AI narrative is tested, so we'll see.
Speaker 2: The stock movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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