WEBVTT - Nvidia Falls and Google Rises on Meta Spend, Kohl's Higher, Abercrombie & Fitch Soars

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.680 --> 0:00:19.319
<v Speaker 3>I'm Carol Master along with Tim Stenebeck. Let's get to

0:00:19.480 --> 0:00:21.280
<v Speaker 3>some stocks on the move, and with us to do

0:00:21.320 --> 0:00:24.960
<v Speaker 3>that is Bloomberg News Crossouset reporter Deniza Sikova joining us.

0:00:25.560 --> 0:00:27.680
<v Speaker 3>We're all talking about Nvidia and Google today. Both of

0:00:27.680 --> 0:00:28.600
<v Speaker 3>these stocks are moving.

0:00:28.760 --> 0:00:32.760
<v Speaker 4>Yeah, the big trade has been Nvidia down more than

0:00:32.800 --> 0:00:35.879
<v Speaker 4>four percent, it feels much as seven percent, and Alphabet

0:00:35.960 --> 0:00:38.640
<v Speaker 4>is up more than one percent. The ticker, of course

0:00:38.680 --> 0:00:42.680
<v Speaker 4>is gogl. Of course it's coming off in video and

0:00:42.680 --> 0:00:46.520
<v Speaker 4>Google AI chiap race intensifying. This has been something people

0:00:46.560 --> 0:00:49.159
<v Speaker 4>have been warning for a long time, but it seems

0:00:49.360 --> 0:00:52.919
<v Speaker 4>that the latest trust was, as Meta reportedly is, in

0:00:52.960 --> 0:00:57.960
<v Speaker 4>tolks to spend billions on Google sayah Ai. Alphabet already

0:00:58.000 --> 0:01:00.360
<v Speaker 4>has an agreement to supply up to one million chips

0:01:00.520 --> 0:01:04.399
<v Speaker 4>to on Tropics. So it seems like those TPO chips,

0:01:04.400 --> 0:01:08.360
<v Speaker 4>which actually Alphabet developed more than ten years ago, are

0:01:08.400 --> 0:01:11.800
<v Speaker 4>now gaining momentum outside of Google as a way to

0:01:11.880 --> 0:01:15.400
<v Speaker 4>train and run complex air models, and it seems like

0:01:15.520 --> 0:01:19.360
<v Speaker 4>we're seeing quite a reaction in markets. Google is approaching

0:01:20.280 --> 0:01:23.680
<v Speaker 4>four trillion dollar market valuation is up seventy percent this year.

0:01:24.000 --> 0:01:26.600
<v Speaker 4>In Vidia, which has been in the center of all

0:01:26.640 --> 0:01:29.480
<v Speaker 4>the AI bubble jitters in the last few years, is

0:01:29.720 --> 0:01:33.760
<v Speaker 4>only thirty percent this year. So this agreement would maybe

0:01:33.880 --> 0:01:36.600
<v Speaker 4>establish TPU as an alternative to video chips, and the

0:01:36.680 --> 0:01:40.200
<v Speaker 4>whole industry is obviously looking as the focus was only

0:01:40.200 --> 0:01:43.000
<v Speaker 4>on in video as the main name that was giving

0:01:43.040 --> 0:01:46.800
<v Speaker 4>chips to Meta to open AI, and now competition is

0:01:46.840 --> 0:01:50.040
<v Speaker 4>emerging from a little known corner of the market.

0:01:50.040 --> 0:01:52.120
<v Speaker 1>I would say, yeah, it's pretty remarkable to see how

0:01:52.120 --> 0:01:55.680
<v Speaker 1>Alphabet has performed this year. We had a great conversation

0:01:56.480 --> 0:02:01.240
<v Speaker 1>with Ian King on Chip King earlier in our broadcast

0:02:01.320 --> 0:02:03.360
<v Speaker 1>everybody shoul check it out on the Bloomberg terminal and

0:02:03.400 --> 0:02:04.320
<v Speaker 1>on our podcast feed.

0:02:04.480 --> 0:02:07.040
<v Speaker 3>Yeah, I mean, just this story and just kind of

0:02:07.040 --> 0:02:09.519
<v Speaker 3>how things can can change the twist and turns. Of course,

0:02:09.600 --> 0:02:13.919
<v Speaker 3>n Video NVDA is the ticker, and Alphabet is googl.

0:02:14.720 --> 0:02:17.360
<v Speaker 3>Some of the retailers really some big moves. Let's go

0:02:17.400 --> 0:02:20.240
<v Speaker 3>to Abercrom and Fitch. This stock is just soaring today.

0:02:20.280 --> 0:02:24.400
<v Speaker 4>Yeah, it's incredible thinking about storage changing. Abercrombie had dropped

0:02:24.480 --> 0:02:27.920
<v Speaker 4>fifty six percent through Monday, but just today shares are

0:02:27.960 --> 0:02:31.080
<v Speaker 4>up thirty five percent. It comes on fundamentals. This is

0:02:31.520 --> 0:02:34.799
<v Speaker 4>not purely a mean move. The retailer raised the low

0:02:34.919 --> 0:02:37.560
<v Speaker 4>end of its twenty twenty six net sales and earning

0:02:37.600 --> 0:02:40.640
<v Speaker 4>per share guidance. Investors are clearly really excited about it,

0:02:40.760 --> 0:02:43.440
<v Speaker 4>buying the deep. The ticker, of course, is an f

0:02:44.360 --> 0:02:47.160
<v Speaker 4>the big winner. It's Hollyster brand. This is what everyone

0:02:47.320 --> 0:02:51.440
<v Speaker 4>have been watching. Sales at Holyyster jump sixteen percent, strong

0:02:51.520 --> 0:02:53.239
<v Speaker 4>back to school demand. This is what they're saying in

0:02:53.280 --> 0:02:57.240
<v Speaker 4>net sales will grow about sixty seven percent this year.

0:02:58.000 --> 0:03:01.400
<v Speaker 4>The move shows that the trendary retailer is working. They

0:03:01.480 --> 0:03:04.840
<v Speaker 4>had like a big moment last year and then it

0:03:04.840 --> 0:03:07.840
<v Speaker 4>seems like it was struggling this year. But the new

0:03:07.919 --> 0:03:12.480
<v Speaker 4>chief executive officer has been trying to draw older customers

0:03:12.520 --> 0:03:16.240
<v Speaker 4>to Abercrombie Bruant while Hollister is going for the young,

0:03:16.560 --> 0:03:20.359
<v Speaker 4>younger consumers, and that's been working. They've been attracting both

0:03:20.400 --> 0:03:23.519
<v Speaker 4>type of consumers and it's really paying off today. What

0:03:23.680 --> 0:03:24.160
<v Speaker 4>a jump.

0:03:24.760 --> 0:03:27.480
<v Speaker 3>Yeah, And we should just mention real quickly that Cole's

0:03:27.639 --> 0:03:31.080
<v Speaker 3>is also moving in a big way. Ticker is KSS

0:03:31.639 --> 0:03:34.120
<v Speaker 3>and it's up about forty percent. Just got about ten seconds.

0:03:34.160 --> 0:03:35.360
<v Speaker 3>What do we need to know real quickly?

0:03:35.440 --> 0:03:38.280
<v Speaker 4>Yeah again, this is again about follows the retailer boost

0:03:38.320 --> 0:03:41.440
<v Speaker 4>the Titaniel forecast after third quarter results, stop expectation, but

0:03:41.600 --> 0:03:46.520
<v Speaker 4>same story as Abercrombie. Really impressive rally oh more than

0:03:46.680 --> 0:03:48.600
<v Speaker 4>fifty percent this year, higher than n video.

0:03:48.720 --> 0:03:49.920
<v Speaker 3>Pretty wild, Pretty wild.

0:03:52.000 --> 0:03:56.000
<v Speaker 2>The stock mover's report from Bloomberg Radio. Check back with

0:03:56.120 --> 0:03:58.680
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:58.760 --> 0:04:02.760
<v Speaker 2>making news on wallst and for the latest market moving headlines.

0:04:02.960 --> 0:04:06.960
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:04:07.000 --> 0:04:10.080
<v Speaker 2>dot com, and on applecarplay and Android Auto with the

0:04:10.120 --> 0:04:11.480
<v Speaker 2>Bloomberg Business app.