1 00:00:02,520 --> 00:00:08,640 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:16,360 --> 00:00:18,279 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,320 --> 00:00:20,919 Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis or The 6 00:00:21,000 --> 00:00:23,040 Speaker 1: report brought to you by the number. One hundred and 7 00:00:23,079 --> 00:00:26,440 Speaker 1: eighty five billion, the number we are hearing this morning 8 00:00:26,760 --> 00:00:28,400 Speaker 1: from Google parent Alphabet. 9 00:00:28,440 --> 00:00:31,160 Speaker 3: Good morning Dan, Good morning Nathan. That's right, it's the 10 00:00:31,200 --> 00:00:33,720 Speaker 3: number I've probably heard the most all day. One hundred 11 00:00:33,800 --> 00:00:37,480 Speaker 3: and eighty five billion dollars in capex. That's how much 12 00:00:37,520 --> 00:00:41,480 Speaker 3: Alphabet is planning to spend this year. Absolutely monstrous number, 13 00:00:41,560 --> 00:00:45,240 Speaker 3: topping piers, fifty percent higher than esthmus, just really taking 14 00:00:45,520 --> 00:00:48,760 Speaker 3: blowing the street away. So Alphabet shares are down about 15 00:00:48,760 --> 00:00:51,920 Speaker 3: three percent in the pre market. Analysts are mixed on 16 00:00:52,080 --> 00:00:54,160 Speaker 3: that number. It's a lot of money. It'd be a 17 00:00:54,200 --> 00:00:57,080 Speaker 3: lot of money for me. But it also does signal 18 00:00:57,160 --> 00:00:59,480 Speaker 3: confidence in the AI trade, right, So if you're going 19 00:00:59,520 --> 00:01:02,320 Speaker 3: to do something, do it big. That's what Alphabet is 20 00:01:02,360 --> 00:01:05,320 Speaker 3: looking to do. The four Q numbers did come out 21 00:01:05,480 --> 00:01:09,280 Speaker 3: top bottom lines both beat search revenues were up seventeen percent. 22 00:01:09,360 --> 00:01:13,120 Speaker 3: That shows it's vending off chat GPT competition. Cloud revenue 23 00:01:13,120 --> 00:01:16,720 Speaker 3: grew nearly fifty percent, so it's still getting growth from 24 00:01:16,720 --> 00:01:18,880 Speaker 3: that AI from the money where it's looking to invest. 25 00:01:19,080 --> 00:01:22,120 Speaker 3: The Gemini app has seven hundred and fifty million monthly users, 26 00:01:22,360 --> 00:01:24,000 Speaker 3: so it looks like it's on the right foot for 27 00:01:24,080 --> 00:01:26,800 Speaker 3: the AI trade. Just the amount of money that's spending 28 00:01:26,840 --> 00:01:29,920 Speaker 3: on it has some people questioning whether it's quite worth it. 29 00:01:29,959 --> 00:01:32,080 Speaker 3: So stock down three percent in the pre market. 30 00:01:32,319 --> 00:01:35,840 Speaker 1: The memory chip trade may be taking it on the 31 00:01:35,959 --> 00:01:39,000 Speaker 1: chin big time this morning. Get judging by the results 32 00:01:39,000 --> 00:01:41,480 Speaker 1: from Qualcomm DAN that's right. 33 00:01:41,520 --> 00:01:45,560 Speaker 3: So Qualcomm came out after the bell last night that share. 34 00:01:45,720 --> 00:01:48,880 Speaker 3: Those shares are down twelve percent. Top and bottom line 35 00:01:49,000 --> 00:01:52,840 Speaker 3: estimates for current quarter. Both top and bottom line forecast 36 00:01:52,880 --> 00:01:56,000 Speaker 3: for current core both below estimates. That's even with fiscal 37 00:01:56,360 --> 00:02:00,800 Speaker 3: first quarter earnings beating. Qualcomm is a smartphone processor maker, 38 00:02:01,040 --> 00:02:03,800 Speaker 3: and it says, well, there's high demand. While there's demand 39 00:02:03,840 --> 00:02:06,440 Speaker 3: for high end phones, some customers will be making fewer 40 00:02:06,440 --> 00:02:09,760 Speaker 3: handsets because memory chip shortages and costs, especially at the 41 00:02:09,800 --> 00:02:13,720 Speaker 3: low end. Qualcomm's looking to diversify towards chips for cars, PCs, 42 00:02:13,760 --> 00:02:17,560 Speaker 3: data centers outside of this space because the handsets sector 43 00:02:17,639 --> 00:02:21,680 Speaker 3: is proving very, very very cost a lot of caution 44 00:02:21,880 --> 00:02:23,960 Speaker 3: over that. So those shares down twelve percent in the 45 00:02:23,960 --> 00:02:24,560 Speaker 3: pre market. 46 00:02:24,919 --> 00:02:27,040 Speaker 1: We got earnings this morning from Sday Lotterer and I'm 47 00:02:27,040 --> 00:02:28,520 Speaker 1: going to say it, Dan, They're not pretty. 48 00:02:29,480 --> 00:02:32,160 Speaker 3: They are not I guess, I guess all my makeup 49 00:02:32,200 --> 00:02:36,200 Speaker 3: spending for radio isn't feeding through. It did raise full 50 00:02:36,280 --> 00:02:40,080 Speaker 3: your sales and earnings guidance, but the market was expecting it. 51 00:02:40,360 --> 00:02:43,400 Speaker 3: Shares are now down almost eleven percent in pre market. 52 00:02:43,639 --> 00:02:46,960 Speaker 3: Company narrowed organic net sales growth, now seeing one to 53 00:02:47,000 --> 00:02:49,440 Speaker 3: three percent for the year, but Wall Street was already 54 00:02:49,440 --> 00:02:51,640 Speaker 3: at two point nine percent, so it was at the 55 00:02:51,639 --> 00:02:55,520 Speaker 3: top end of what Sday latter provided. Again, EPs range 56 00:02:55,520 --> 00:02:58,600 Speaker 3: was up fifteen cents, but Wallstreet had already moved on that. 57 00:02:59,000 --> 00:03:03,320 Speaker 3: Fiscal second quarter earnings and sales did top did top estimates. 58 00:03:03,400 --> 00:03:06,400 Speaker 3: Flat organic growth in America though CEO is looking for 59 00:03:06,440 --> 00:03:08,919 Speaker 3: a turnaround, but right now shares not seeing a turnaround 60 00:03:08,919 --> 00:03:09,640 Speaker 3: in the pre market. 61 00:03:09,720 --> 00:03:12,160 Speaker 1: And just quickly, Dan, we got some news from Spotify 62 00:03:12,240 --> 00:03:15,000 Speaker 1: this morning that some listeners might find a little interesting. 63 00:03:15,639 --> 00:03:18,680 Speaker 3: That's right, so Spotify is going to be off airing 64 00:03:18,800 --> 00:03:22,120 Speaker 3: premium subscribers a chance by paper books. I have this, 65 00:03:22,200 --> 00:03:25,240 Speaker 3: I'm scratching my heads. Markets are taking a two percent 66 00:03:25,320 --> 00:03:28,520 Speaker 3: move up on that news. Spotify, according to the Wall 67 00:03:28,520 --> 00:03:32,880 Speaker 3: Street Journal, is partnering with bookshop dot org to provide 68 00:03:32,960 --> 00:03:36,400 Speaker 3: paperback books. And I mean, I'm a Spotify premium user. 69 00:03:36,520 --> 00:03:38,520 Speaker 3: I'm not sure if I'm going to buy that because 70 00:03:38,520 --> 00:03:40,800 Speaker 3: I'll bump into things if I'm trying to commute and 71 00:03:41,120 --> 00:03:42,880 Speaker 3: be on the book and read a book at the 72 00:03:42,920 --> 00:03:43,320 Speaker 3: same time. 73 00:03:44,480 --> 00:03:48,520 Speaker 2: This stock Movers report from Bloomberg Radio. Check back with 74 00:03:48,600 --> 00:03:51,160 Speaker 2: us throughout the day for the latest roundup of companies 75 00:03:51,240 --> 00:03:54,320 Speaker 2: making news on Wall Street and for the latest market 76 00:03:54,360 --> 00:03:58,800 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 77 00:03:58,920 --> 00:04:02,280 Speaker 2: Bloomberg dot com, and on Apple CarPlay and Android Auto 78 00:04:02,360 --> 00:04:03,920 Speaker 2: with the Bloomberg Business app.