1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,880 --> 00:00:13,320 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,560 --> 00:00:16,520 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,760 --> 00:00:21,439 Speaker 2: With Carol Masser, Tim Stenebeck, Romain Bostik, and Scarlet Foo. 5 00:00:22,440 --> 00:00:24,120 Speaker 3: S and P five hundred back to the big caps, 6 00:00:24,160 --> 00:00:26,520 Speaker 3: we go and man, do I have this right? Because 7 00:00:26,840 --> 00:00:28,800 Speaker 3: I feel like the split has been all over the place, 8 00:00:28,840 --> 00:00:31,720 Speaker 3: but we've We're ending with about four hundred and seven 9 00:00:31,800 --> 00:00:33,760 Speaker 3: names to the upside in the S and P five hundred, 10 00:00:33,840 --> 00:00:36,920 Speaker 3: KTI just ninety five to the downside. No, you're right, 11 00:00:36,960 --> 00:00:39,879 Speaker 3: that you right, It wasn't like that before. 12 00:00:41,400 --> 00:00:43,960 Speaker 4: We have really good breadth today, even though you wouldn't 13 00:00:44,000 --> 00:00:46,760 Speaker 4: necessarily know it by looking at the percent change on 14 00:00:46,840 --> 00:00:48,960 Speaker 4: the S and P five hundred. But when it comes 15 00:00:49,000 --> 00:00:51,519 Speaker 4: to the sector change that you had nine of eleven 16 00:00:51,560 --> 00:00:55,120 Speaker 4: sectors in the green, led by healthcare actually on a 17 00:00:55,160 --> 00:00:58,080 Speaker 4: points basis, but it was big tech on the downside. 18 00:00:58,120 --> 00:01:01,360 Speaker 5: Well, speak of big tech. We have a smaller big 19 00:01:01,360 --> 00:01:04,160 Speaker 5: company from the tech spas reporting Texas Instruments coming out 20 00:01:04,200 --> 00:01:07,160 Speaker 5: with second quarter EPs of a dollar forty one, beating 21 00:01:07,280 --> 00:01:10,880 Speaker 5: the consensussessimate of a dollar thirty five. Revenue for the 22 00:01:10,920 --> 00:01:13,120 Speaker 5: quarter was four point four to five billion dollars, also 23 00:01:13,200 --> 00:01:15,959 Speaker 5: higher than anticipated, which was four point three six billion. 24 00:01:16,280 --> 00:01:19,440 Speaker 5: As for the outlook, it sees revenue for this quarter 25 00:01:19,640 --> 00:01:21,920 Speaker 5: between four point four to five billion to four point 26 00:01:21,959 --> 00:01:24,360 Speaker 5: eight zero billion. Analysts, we're looking for four point five 27 00:01:24,480 --> 00:01:27,760 Speaker 5: seven billion, so the midpoint of that range handily beating 28 00:01:27,920 --> 00:01:30,679 Speaker 5: the consensus estimate. Third quarter EPs will be anywhere from 29 00:01:30,720 --> 00:01:33,319 Speaker 5: a dollar thirty six to a dollar sixty analysts, we're 30 00:01:33,360 --> 00:01:37,000 Speaker 5: looking for a dollar fifty and second quarter capex, now 31 00:01:37,040 --> 00:01:39,520 Speaker 5: I'm going backwards here was one point three one billion 32 00:01:39,560 --> 00:01:42,280 Speaker 5: dollars more than expected. Analysts. We're looking for one point 33 00:01:42,319 --> 00:01:44,480 Speaker 5: one seven billion, and you could see right now the 34 00:01:44,520 --> 00:01:47,240 Speaker 5: stock team down about seven percent in after our trading. 35 00:01:47,360 --> 00:01:50,600 Speaker 1: Yeah, there's no commentary from executives in the press release, 36 00:01:50,720 --> 00:01:53,640 Speaker 1: going to have to wait to get that from the 37 00:01:53,640 --> 00:01:57,640 Speaker 1: earnings call, but Worth reiterating that revenue increase nine percent 38 00:01:57,680 --> 00:02:01,680 Speaker 1: sequentially was led by continued brand recovery in industrial sixteen 39 00:02:01,720 --> 00:02:04,600 Speaker 1: percent from the same quarter a year ago. The company 40 00:02:04,640 --> 00:02:06,440 Speaker 1: also is saying that over the past twelve months, they've 41 00:02:06,440 --> 00:02:09,120 Speaker 1: invested three point nine billion dollars in R and D 42 00:02:09,240 --> 00:02:12,120 Speaker 1: and SGNA and invested four point nine billion dollars in 43 00:02:12,160 --> 00:02:15,880 Speaker 1: capex and returned to six point seven billion dollars to owners. 44 00:02:15,960 --> 00:02:18,840 Speaker 3: All Right, so just a reminder here, folks, you are 45 00:02:18,919 --> 00:02:21,800 Speaker 3: seeing a lot of selling and Texas Instruments in the 46 00:02:21,840 --> 00:02:25,519 Speaker 3: aftermarket down about a percent. There was some concern and 47 00:02:25,639 --> 00:02:29,440 Speaker 3: nervousness heading into this report because they felt like the outlook, 48 00:02:29,520 --> 00:02:33,280 Speaker 3: a lack of visibility and any obvious growth catalyst might 49 00:02:33,320 --> 00:02:35,520 Speaker 3: put some pressure on this name. But it's the street 50 00:02:35,560 --> 00:02:36,880 Speaker 3: not liking it, and you got to keep in mind 51 00:02:36,919 --> 00:02:39,160 Speaker 3: the stock it's up about fifteen percent year to date, 52 00:02:39,200 --> 00:02:41,800 Speaker 3: but definitely some disappointment here in the aftermarket, Katie. 53 00:02:41,600 --> 00:02:44,079 Speaker 4: Yeah, that outperformance might be a reason why you're seeing 54 00:02:44,120 --> 00:02:47,639 Speaker 4: this after hours reaction right now, which looks pretty dramatic, 55 00:02:47,680 --> 00:02:50,320 Speaker 4: Like you said, down eight percent. Now, of course, their 56 00:02:50,320 --> 00:02:53,720 Speaker 4: third quarter outlook didn't include changes to US tax legislation, 57 00:02:53,960 --> 00:02:56,600 Speaker 4: so maybe that explains some of the negativity here. But 58 00:02:56,720 --> 00:02:59,959 Speaker 4: we've been talking all program about how a lot of 59 00:03:00,200 --> 00:03:02,480 Speaker 4: these companies the bar is really high, at least when 60 00:03:02,520 --> 00:03:06,160 Speaker 4: it comes to sentiment, and these misses, if there's anything 61 00:03:06,200 --> 00:03:07,840 Speaker 4: to pick at, are getting punished. 62 00:03:07,840 --> 00:03:09,799 Speaker 3: Carol, Yeah, and I would say I just want to 63 00:03:09,800 --> 00:03:11,760 Speaker 3: throw one more thing in, and maybe the disappointment has 64 00:03:11,800 --> 00:03:13,880 Speaker 3: to do with the third quarter outlook. Right, it's seeing 65 00:03:13,960 --> 00:03:17,400 Speaker 3: third quarter EPs of of dollar thirty six to one sixty. 66 00:03:17,440 --> 00:03:20,800 Speaker 3: The estimate is one fifty. It sees third quarter revenue 67 00:03:20,840 --> 00:03:23,079 Speaker 3: from four point four to five billion to four point 68 00:03:23,160 --> 00:03:26,040 Speaker 3: eight billion. The estimate is four point five seven billion. 69 00:03:26,440 --> 00:03:29,440 Speaker 3: So there's a bit of a range and definitely some 70 00:03:29,560 --> 00:03:32,520 Speaker 3: room for disappointment. So maybe that has to do with 71 00:03:32,919 --> 00:03:35,040 Speaker 3: some of the selling that we're seeing here in the aftermarket. 72 00:03:35,200 --> 00:03:37,400 Speaker 3: We'll keep a watch on right now, Shares of Texas 73 00:03:37,480 --> 00:03:41,000 Speaker 3: Instruments still down about seven percent. Hey, just a quick 74 00:03:41,000 --> 00:03:42,800 Speaker 3: summary of some of the stocks that were on the 75 00:03:42,840 --> 00:03:45,760 Speaker 3: move in the regular session. We talked about home builders 76 00:03:45,800 --> 00:03:50,000 Speaker 3: outperformance there. Here's the reasons why d R Horton was 77 00:03:50,080 --> 00:03:52,840 Speaker 3: up about sixteen percent here at the close today, at 78 00:03:52,840 --> 00:03:56,880 Speaker 3: top gainer in the SNP. The third quarter earnings beat expectations, 79 00:03:57,360 --> 00:04:01,040 Speaker 3: profit orders and home closings beating analyst estimates. Go to 80 00:04:01,080 --> 00:04:03,440 Speaker 3: Polti Group also out with their results. That stock was 81 00:04:03,520 --> 00:04:06,480 Speaker 3: up twelve percent at the close, again a top gainer 82 00:04:06,520 --> 00:04:09,680 Speaker 3: in the SMP. They reported better than expected earnings, so 83 00:04:09,760 --> 00:04:11,840 Speaker 3: that was a big one, and we got some more 84 00:04:11,840 --> 00:04:12,600 Speaker 3: earnings crossing. 85 00:04:12,720 --> 00:04:15,360 Speaker 1: Yeah, looking at Intuitive Surgical, pulling it up on the 86 00:04:15,400 --> 00:04:19,919 Speaker 1: Bloomberg terminal, seeing shares in the after hours, not necessarily 87 00:04:19,960 --> 00:04:22,440 Speaker 1: on the move in termitie of Surgical. Second quarter revenue 88 00:04:22,440 --> 00:04:24,839 Speaker 1: coming in at two point four to four billion dollars. 89 00:04:25,240 --> 00:04:27,920 Speaker 1: Estimates were for two point three five at billion. Second 90 00:04:28,000 --> 00:04:30,320 Speaker 1: quarter adjusted earnings per share coming in a way above 91 00:04:30,440 --> 00:04:32,800 Speaker 1: estimates at two point two billion dollars. The estimate was 92 00:04:32,839 --> 00:04:35,719 Speaker 1: for one dollar and ninety three cent shares now on 93 00:04:35,760 --> 00:04:38,000 Speaker 1: the move higher by five point seven percent. 94 00:04:38,200 --> 00:04:41,160 Speaker 4: Yeah, starting to see some reaction there after a second 95 00:04:41,240 --> 00:04:44,320 Speaker 4: quarter adjusted EPs beat its estimates. And this is a 96 00:04:44,400 --> 00:04:46,520 Speaker 4: name that needed some good news to him. You consider 97 00:04:46,600 --> 00:04:49,680 Speaker 4: the fact that Intuitive Surgical shares were down about two 98 00:04:49,760 --> 00:04:52,279 Speaker 4: percent heading into today's close, and these numbers. 99 00:04:52,400 --> 00:04:54,760 Speaker 5: All right, we have most of the big banks done reporting, 100 00:04:54,800 --> 00:04:57,040 Speaker 5: but we have a financial company that has just reported 101 00:04:57,080 --> 00:04:59,479 Speaker 5: in that is Capital One. Let's give you the second 102 00:04:59,520 --> 00:05:03,000 Speaker 5: quarter just EPs number five dollars forty eight cents far 103 00:05:03,040 --> 00:05:05,840 Speaker 5: away beating the consensu assessment of three dollars eighty eight cents. 104 00:05:05,839 --> 00:05:08,200 Speaker 5: So maybe we're not comparing like with like. Let's look 105 00:05:08,240 --> 00:05:10,200 Speaker 5: at the net revenue line twelve point four to nine 106 00:05:10,200 --> 00:05:13,159 Speaker 5: billion dollars, also higher than the expected eleven point eight 107 00:05:13,200 --> 00:05:16,359 Speaker 5: four billion dollars. A net interest margin for the period 108 00:05:16,720 --> 00:05:19,279 Speaker 5: was seven point six two percent, better than the seven 109 00:05:19,320 --> 00:05:23,440 Speaker 5: point four to three percent. As for loans held for investment, 110 00:05:23,520 --> 00:05:25,440 Speaker 5: that came out to about four hundred and thirty nine 111 00:05:25,640 --> 00:05:28,119 Speaker 5: point three billion ounce. We're looking for about three hundred 112 00:05:28,120 --> 00:05:31,480 Speaker 5: and ninety seven billion and one comment from Capito one 113 00:05:31,800 --> 00:05:35,040 Speaker 5: the integration of Discover is going well, so we're looking 114 00:05:35,440 --> 00:05:38,120 Speaker 5: for more commentary, of course on that. Second quarter provision 115 00:05:38,160 --> 00:05:40,840 Speaker 5: for credit losses was about eleven point four to three 116 00:05:40,920 --> 00:05:44,200 Speaker 5: billion dollars. The consensus assessment, if this is the right comparison, 117 00:05:44,240 --> 00:05:46,880 Speaker 5: is three point eight eight billion. That seems a little 118 00:05:46,880 --> 00:05:48,880 Speaker 5: bit off, but we'll dig into that a little bit more. 119 00:05:48,960 --> 00:05:51,200 Speaker 5: The stock is now lower and after hours trading. 120 00:05:51,200 --> 00:05:53,799 Speaker 3: All right, here's one that is definitely rally in the aftermarket, 121 00:05:53,839 --> 00:05:56,720 Speaker 3: although it's having a pretty miserable twenty twenty five. We're 122 00:05:56,720 --> 00:05:59,000 Speaker 3: talking about in Phase Energy. It's up almost six percent 123 00:05:59,000 --> 00:06:01,039 Speaker 3: here in the aftermarket. Keep in mind it's off about 124 00:06:01,080 --> 00:06:04,680 Speaker 3: thirty seven percent year to date, the Solar Energy Company. 125 00:06:04,720 --> 00:06:06,960 Speaker 3: And let's go through some of the numbers second quarter, 126 00:06:07,040 --> 00:06:09,240 Speaker 3: just atdps, that's a beat six cents better than what 127 00:06:09,279 --> 00:06:12,039 Speaker 3: the street was expecting, sixty nine versus the estimate of 128 00:06:12,080 --> 00:06:15,760 Speaker 3: sixty three. Second quarter revenue that came in better than 129 00:06:15,800 --> 00:06:18,440 Speaker 3: forecasts three hundred and sixty three point two million. The 130 00:06:18,600 --> 00:06:21,039 Speaker 3: estimate was three hundred and fifty nine point three. And 131 00:06:21,080 --> 00:06:24,040 Speaker 3: then this is what matters. Perhaps the third quarter revenue 132 00:06:24,120 --> 00:06:27,000 Speaker 3: outlook three hundred thirty million to three hundred and seventy million, 133 00:06:27,000 --> 00:06:29,200 Speaker 3: that's quade a app The estimate is for three hundred 134 00:06:29,200 --> 00:06:31,440 Speaker 3: and seventy one point nine million. But again, this stock 135 00:06:31,839 --> 00:06:34,159 Speaker 3: Katie is up about eight percent in the aftermarket. 136 00:06:34,320 --> 00:06:36,360 Speaker 4: Yeah, it's wild. Well, you mentioned that it's having a 137 00:06:36,360 --> 00:06:39,400 Speaker 4: miserable twenty twenty five, so just put some context to that. 138 00:06:39,760 --> 00:06:42,479 Speaker 4: Shares down about thirty eight percent on a total return 139 00:06:42,520 --> 00:06:45,080 Speaker 4: basis into the close. We know that in Phase and 140 00:06:45,080 --> 00:06:46,920 Speaker 4: some of the other clean energy, some of the other 141 00:06:47,000 --> 00:06:51,000 Speaker 4: solar names have been really whipsawed by policy coming out 142 00:06:51,080 --> 00:06:53,320 Speaker 4: of the White House. So I guess the fact that 143 00:06:53,360 --> 00:06:56,120 Speaker 4: they were able to report good news on any level. 144 00:06:56,520 --> 00:06:59,520 Speaker 4: You can see the shares really taking off after hours. 145 00:06:59,720 --> 00:07:02,760 Speaker 1: Yes, you know, whipsawng. I'm watching shares of Intuitive Surgical. 146 00:07:02,800 --> 00:07:04,720 Speaker 1: At first they did move higher, now they're down four 147 00:07:04,720 --> 00:07:07,080 Speaker 1: and a half percent. In the after hours, the company 148 00:07:07,279 --> 00:07:09,760 Speaker 1: did say, remember this is the company that has the 149 00:07:09,800 --> 00:07:13,440 Speaker 1: Da Vinci surgical robot. It's the high precision robot that 150 00:07:13,440 --> 00:07:16,400 Speaker 1: does surgery on many different parts of the human body. 151 00:07:16,840 --> 00:07:19,679 Speaker 1: They did say that procedures grew at approximately seventeen percent 152 00:07:19,720 --> 00:07:22,400 Speaker 1: in the second quarter of twenty twenty four, and now 153 00:07:22,520 --> 00:07:25,000 Speaker 1: they grew their Da Vinci Surgical system installed based to 154 00:07:25,080 --> 00:07:27,320 Speaker 1: ten thousand, four hundred and eighty eight systems as of 155 00:07:27,400 --> 00:07:29,760 Speaker 1: the end of the quarter in June twenty twenty five. 156 00:07:29,760 --> 00:07:32,600 Speaker 1: That's an increase of fourteen percent compared to June thirtieth, 157 00:07:32,680 --> 00:07:33,360 Speaker 1: twenty twenty five. 158 00:07:33,360 --> 00:07:35,920 Speaker 3: And just real quickly, analog devices and on semi both 159 00:07:36,000 --> 00:07:40,120 Speaker 3: down in sympathy. I guess with Texas Instruments who we're 160 00:07:40,120 --> 00:07:42,880 Speaker 3: seeing some impact on some of the other chip names. 161 00:07:44,160 --> 00:07:48,200 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 162 00:07:48,280 --> 00:07:50,840 Speaker 2: us throughout the day for the latest roundup of companies 163 00:07:50,920 --> 00:07:54,000 Speaker 2: making news on Wall Street and for the latest market 164 00:07:54,040 --> 00:07:58,480 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 165 00:07:58,600 --> 00:08:01,920 Speaker 2: Bloomberg dot com, and on Apple CarPlay. And Android Auto 166 00:08:02,040 --> 00:08:03,600 Speaker 2: with the Bloomberg Business App.