WEBVTT - SLB Gains, Avis Plummets, Intel Surges on Sales Forecast

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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

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<v Speaker 1>Let's take a look at some stock movers out there.

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<v Speaker 2>We can do that with Bloomberg's Matthew Griffin.

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<v Speaker 1>Matt, what are you looking at here? Let's talk some

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<v Speaker 1>more about Intel. I feel like there is just no

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<v Speaker 1>end of what you can say about this report about

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<v Speaker 1>the stock reaction here. So, of course shares up more

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<v Speaker 1>than twenty three percent today, but you know, taking a

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<v Speaker 1>step back looking here, to date, Intel now up one

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<v Speaker 1>hundred and twenty one percent year to date. That's after

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<v Speaker 1>about eighty five percent last year. So the days of

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<v Speaker 1>this long stock slump look increasingly in the rear view mirror.

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<v Speaker 1>Even before the blowout revenue forecast that the company gave

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<v Speaker 1>for the current quarter, there was a lot of reason

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<v Speaker 1>for investor optimism. They had bought back part of a

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<v Speaker 1>factory they'd had to sell basically to raise cash. That's

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<v Speaker 1>seen as a vote of confidence participating in Elon Musk

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<v Speaker 1>ship making projects. So, you know, really a lot of

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<v Speaker 1>reason for optimism, even though they're revenue still a long

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<v Speaker 1>way off all time highs.

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<v Speaker 2>Very good? All right? What else you got? Avis? Yes?

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<v Speaker 1>So, Avis now extending a slump into a third day,

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<v Speaker 1>nothing like the epic crash has seen the last two sessions.

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<v Speaker 1>But shares now down about two and a half percent,

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<v Speaker 1>the stock down nearly sixty nine percent across three sessions.

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<v Speaker 1>That comes even though Pentwater Capital that's their second largest shareholder.

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<v Speaker 1>They said last night that they'd exercised call options bought

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<v Speaker 1>seven hundred and forty one thousand shares just before the

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<v Speaker 1>crash started. Those are in the green. They you know,

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<v Speaker 1>those options were for a lower price. However, you know

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<v Speaker 1>that not moving the needle, and you know, just to

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<v Speaker 1>throw something extra in for listeners, look at what's happening

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<v Speaker 1>with the Dow Transports Index. It waits its members by

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<v Speaker 1>share price, and it is just swinging wildly along with Avis.

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<v Speaker 1>Down twelve percent across three days. Yeah, all those now

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<v Speaker 1>averrecuez price weight. It is a really weird thing. Okay,

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<v Speaker 1>Let's talk about the company in the formerly known as

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<v Speaker 1>Slumberge Yes so now known as SLB ticker SLB investors

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<v Speaker 1>trying to pick a direction here, Shares up about half

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<v Speaker 1>a percent, recovering earlier losses, and it I think highlights

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<v Speaker 1>the way that the Iran war cuts both ways for

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<v Speaker 1>companies that do maintenance and services for oil. Long term

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<v Speaker 1>Iran war expected to be a tailwind. Oil prices a

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<v Speaker 1>lot higher right now though a lot of those oil

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<v Speaker 1>fields in the Middle East you can't send people into

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<v Speaker 1>do maintenance. That's caused their earnings for share to fall

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<v Speaker 1>twenty eight percent year over year, and again investors kind

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<v Speaker 1>of weighing the short term versus the long term.

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<v Speaker 2>Here this stock Movers report from Bloomberg Radio. Check back

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<v Speaker 2>with us throughout the day for the latest roundup of

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<v Speaker 2>companies making news on Wall Street and for the latest

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<v Speaker 2>market moving headlines. Listen to Bloomberg Radio Live, catch us

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