Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data right to the stock movers.
Speaker 2: And lifting on certain market here the Stock Movers a
Speaker 2: wonderful podcast and joining us John Tucker.
Speaker 3: Remember they used to be across the street. Now it's
Speaker 3: a blank space across the street from space for several
Speaker 3: years now. Yeah, it's a bigorious secret ticker symbol vs CEO.
Speaker 3: They actually well, yeah, they know. They set a new
Speaker 3: date for their first quarter earnings release. It's going to
Speaker 3: be next week, June eleven. Now, they had a big
Speaker 3: data breach back in May. I recall the information exposed
Speaker 3: in that incident included names, dates of birth, social security numbers,
Speaker 3: driver's license numbers, state ID numbers, passport numbers, and also
Speaker 3: a financial account information, digital signatures, you name it, medical information.
Speaker 3: It detected the breach May twenty fourth. The company. It
Speaker 3: shut down the company's website and also the corporate IT
Speaker 3: systems from May twenty six to twenty ninth in response,
Speaker 3: and they are continued. It says the incident's scope and impact.
Speaker 3: It impacted their earnings I mean they delay their earnings
Speaker 3: because of this.
Speaker 2: What I do here on this, folks, is I look
Speaker 2: at you know, pre pandemic and pre pandemic they're popping
Speaker 2: eight billion, and they're not doing that anymore. They're popping
Speaker 2: six point two ish billion.
Speaker 3: And the tenor of the company has changed dramatically in
Speaker 3: terms of like, remember they used to have that Runway show,
Speaker 3: et cetera.
Speaker 2: So no, I don't recall that. You don't would you
Speaker 2: like to move on to the next one? So av
Speaker 2: an HR violation.
Speaker 3: Avgoh Broadcom handle That share price has soared, catapulting the
Speaker 3: chip maker into the ranks of the world's most valuable companies.
Speaker 3: This is also ratchet up the pressure on its earnings
Speaker 3: report to try and sustain the momentum. I think we're
Speaker 3: going to get those after the close of regular trading.
Speaker 3: More than half the stocks five hundred and forty billion
Speaker 3: dollar rally since it's April low has come of the
Speaker 3: past month. There are signs that heavy spending on AI
Speaker 3: gear is poised.
Speaker 2: So this is Broadcom after the close.
Speaker 3: Yeah, I'm learning every day it is today, right, Yeah,
Speaker 3: shares you'll recall they had tumbled forty one percent from
Speaker 3: the December record before staging a two month seventy eight
Speaker 3: percent rally. This is now made at the seventh most
Speaker 3: valuable company in the S and P five hundred the
Speaker 3: market cap one point two three trillion dollars.
Speaker 1: I never used to see those kinds of moves in
Speaker 1: cap stocks. I mean, you know, it's not trading like
Speaker 1: a it's not a penny stock.
Speaker 3: This is a one of the Yeah, indeed, one of
Speaker 3: the biggest beneficiaries of AI spending. Mother likes off some
Speaker 3: of the customers like Microsoft. I'll wrap up. This comes
Speaker 3: under the category of Jane Fraser kind of trying to
Speaker 3: write the ship City Group going to cut its technology
Speaker 3: employee workforce in China by thirty five hundred jobs, part
Speaker 3: of the global simplification efforts. At the same time they're
Speaker 3: saying we're still committed to China. Reductions are expanded to
Speaker 3: be completed by the start of the fourth order, according
Speaker 3: to the Bank. In a statement today, the firm declined
Speaker 3: to provide staffing numbers at those Chinese locations, though.
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