1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,920 --> 00:00:18,840 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,840 --> 00:00:21,560 Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis on a 6 00:00:21,600 --> 00:00:23,960 Speaker 1: morning where tech stocks are leading the way. But we 7 00:00:24,000 --> 00:00:26,759 Speaker 1: are waiting for some more bank earnings, and we've already 8 00:00:26,800 --> 00:00:29,520 Speaker 1: gotten some results this morning from Blackrock. 9 00:00:29,560 --> 00:00:32,800 Speaker 3: Good morning, Dan, Good morning Nathan. That's right, So some 10 00:00:32,960 --> 00:00:36,720 Speaker 3: financial earnings out as we await Goldman out later as 11 00:00:36,800 --> 00:00:40,280 Speaker 3: well as Morgan Stanley. But Blackrock came out. The asset 12 00:00:40,320 --> 00:00:44,720 Speaker 3: manager now holds over fourteen trillion dollars under management. That 13 00:00:44,840 --> 00:00:48,440 Speaker 3: met estimates. It was an extra three hundred over estimate, 14 00:00:48,520 --> 00:00:50,920 Speaker 3: an extra three hundred and fifty billion dollars added to 15 00:00:50,920 --> 00:00:54,160 Speaker 3: the coffers over the last quarter. So those assets, it's 16 00:00:54,160 --> 00:00:56,720 Speaker 3: how the company makes money. They collect a small percent 17 00:00:56,840 --> 00:01:00,200 Speaker 3: on that. So that helped push the company's earning to 18 00:01:00,440 --> 00:01:04,520 Speaker 3: thirteen dollars and sixteen cents per share, which was above 19 00:01:04,560 --> 00:01:08,280 Speaker 3: street estimates. That's aiding the stock up one point seven 20 00:01:08,319 --> 00:01:11,440 Speaker 3: percent right now in the pre market ticker b LK. 21 00:01:12,000 --> 00:01:15,520 Speaker 3: Blackrock has been focusing on growing its private market business. 22 00:01:15,560 --> 00:01:18,080 Speaker 3: CEO and co founder Larry Fink out with a comment 23 00:01:18,080 --> 00:01:20,800 Speaker 3: that the company is seeing strong activity there. It's looking 24 00:01:20,840 --> 00:01:23,600 Speaker 3: to raise four hundred billion dollars for private market funds 25 00:01:23,640 --> 00:01:26,560 Speaker 3: by twenty thirty. He says that that is going strong 26 00:01:26,640 --> 00:01:27,119 Speaker 3: right now. 27 00:01:27,480 --> 00:01:30,199 Speaker 1: All right, Well, let's talk about the stock that's leading 28 00:01:30,200 --> 00:01:33,480 Speaker 1: the tech revival this morning. That would be Taiwan Semiconductor. 29 00:01:34,319 --> 00:01:38,720 Speaker 3: Yeah, Taiwan Semiconductors out with earnings overnight. The ADRs trade 30 00:01:38,760 --> 00:01:42,200 Speaker 3: under ticker TSM are up nearly seven percent in the 31 00:01:42,240 --> 00:01:44,880 Speaker 3: pre market. It's a The chip maker has been a 32 00:01:44,880 --> 00:01:47,760 Speaker 3: big benefactor of the AI boom and announced a twenty 33 00:01:47,800 --> 00:01:51,360 Speaker 3: percent growth and fourth quarter sales that be estimate. Not 34 00:01:51,480 --> 00:01:53,880 Speaker 3: only was the fourth quarter of last year strong, a 35 00:01:54,000 --> 00:01:57,360 Speaker 3: rosy outlook for this year too. It's expecting thirty percent 36 00:01:57,400 --> 00:02:00,360 Speaker 3: sales growth this year. Not only that, it is going 37 00:02:00,400 --> 00:02:03,880 Speaker 3: to spend up to fifty six billion dollars this year 38 00:02:03,920 --> 00:02:06,600 Speaker 3: in capital expenditure. There's so much demand there that the 39 00:02:06,600 --> 00:02:09,120 Speaker 3: company's saying it really has to put in a lot 40 00:02:09,160 --> 00:02:14,120 Speaker 3: of outlets to meet the demand. That that demand is 41 00:02:14,160 --> 00:02:17,800 Speaker 3: coming from companies like Meta, Amazon, Nvidia, all the big 42 00:02:17,840 --> 00:02:20,880 Speaker 3: AI names this morning, and that's really giving those shares 43 00:02:20,919 --> 00:02:23,160 Speaker 3: a lift, just booming seven percent in the pre market. 44 00:02:23,360 --> 00:02:25,240 Speaker 1: Yeah, so let's talk a little bit more about that 45 00:02:25,639 --> 00:02:28,760 Speaker 1: lift more broadly across chips. 46 00:02:28,880 --> 00:02:31,080 Speaker 3: Right, So, more broadly across chips. There's a lot of 47 00:02:31,120 --> 00:02:34,920 Speaker 3: spaces where this is plying out the TSMC supplier. So 48 00:02:34,960 --> 00:02:38,320 Speaker 3: fifty six billion dollars in spending for TSMC means fifty 49 00:02:38,360 --> 00:02:42,480 Speaker 3: six billion dollars in revenues for other companies. Applied Materials 50 00:02:42,560 --> 00:02:46,360 Speaker 3: is up eight percent, Lam Research up again eight percent, 51 00:02:47,240 --> 00:02:51,160 Speaker 3: KLA Company, KLA Corp up six percent. These are companies 52 00:02:51,240 --> 00:02:55,000 Speaker 3: that provide software, they provide chip making equipment, they provide 53 00:02:55,040 --> 00:02:59,360 Speaker 3: services to TSMC. So when TSMC needs to build out, 54 00:02:59,560 --> 00:03:01,720 Speaker 3: these are the companies that are going to benefiting from it, 55 00:03:01,760 --> 00:03:04,320 Speaker 3: and they are definitely benefiting from it in pre market. 56 00:03:04,760 --> 00:03:08,640 Speaker 1: And finally, Dan, Spotify is moving up, and so are 57 00:03:08,680 --> 00:03:10,000 Speaker 1: the subscription rates apparently. 58 00:03:10,040 --> 00:03:12,519 Speaker 3: Huh, that's right. I think it's time for me to plug. 59 00:03:12,800 --> 00:03:16,040 Speaker 3: The Bloomberg radio is free, but Spotify is raising its 60 00:03:16,040 --> 00:03:19,080 Speaker 3: premium subscription to in the US for thirteen dollars a 61 00:03:19,080 --> 00:03:21,880 Speaker 3: month from twelve. This is the first race for US 62 00:03:21,919 --> 00:03:25,320 Speaker 3: consumer since twenty twenty four. That raise is help lifting 63 00:03:25,320 --> 00:03:27,720 Speaker 3: shares about one and a half percent in the pre market. 64 00:03:27,960 --> 00:03:31,280 Speaker 3: Research for Antenna notes that Spotify users are not likely 65 00:03:31,320 --> 00:03:34,480 Speaker 3: to cancel subscriptions. It's actually they stick with it very 66 00:03:34,480 --> 00:03:37,120 Speaker 3: strongly despite the increases, so Wall Street fitting that up 67 00:03:37,120 --> 00:03:37,800 Speaker 3: in the pre market. 68 00:03:38,560 --> 00:03:42,560 Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with 69 00:03:42,640 --> 00:03:45,240 Speaker 2: us throughout the day for the latest roundup of companies 70 00:03:45,280 --> 00:03:48,400 Speaker 2: making news on Wall Street and for the latest market 71 00:03:48,440 --> 00:03:52,920 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 72 00:03:53,000 --> 00:03:56,480 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 73 00:03:56,560 --> 00:03:58,040 Speaker 2: the Bloomberg Business app.