WEBVTT - Broadcom Delivers Upbeat Forecast, Coinbase Rallies, Moderna Rises

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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

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

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<v Speaker 3>I'm Tim Statoveeck along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today. We're joined

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<v Speaker 3>by manaiting editor for Bloomberg Markets Live Blog, Christina Kino Hey,

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<v Speaker 3>Christine Heyo.

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<v Speaker 1>Well, we guys start with broadcome of course, as we

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<v Speaker 1>are those results after hours. I mean, it looks like

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<v Speaker 1>a great set of results. A lot of focus on

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<v Speaker 1>that second quarter AI revenue outlook ten point seven billion dollars,

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<v Speaker 1>well above consensus estimates, and we're also granting shareholders a

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<v Speaker 1>ten billion dollar buy back, So a lot of good

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<v Speaker 1>things going on there in terms of share reaction. Of course,

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<v Speaker 1>ticker avy go those shares just up about half a

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<v Speaker 1>percent after market, so perhaps it'll take the market some

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<v Speaker 1>time to digest some of those results.

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<v Speaker 3>Well, yeah, as Koon John told us, it's like the

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<v Speaker 3>bigger the bet, the where the stock does. I mean

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<v Speaker 3>we saw that with Nvidia last week. Yeah, and it's

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<v Speaker 3>just an environment where even if you have a huge

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<v Speaker 3>beat like one by historical standards for Nvidia was like,

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<v Speaker 3>you know, history making stock still false?

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<v Speaker 4>Well did a bass reporting that actually initially the sales

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<v Speaker 4>forecast for the current period disappointed investors.

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<v Speaker 5>I mean it was twenty two billion.

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<v Speaker 4>Twenty point five billion, but there was some projection saying

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<v Speaker 4>twenty two billion.

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<v Speaker 5>Yeah, well it was twenty two billion, Okay, But I

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<v Speaker 5>think a.

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<v Speaker 1>Lot of these companies are just victims of that's really

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<v Speaker 1>high expectations.

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<v Speaker 5>Right, stupid numbers, stupid numbers. I don't know. All I

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<v Speaker 5>could say is it was down a little bit in

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<v Speaker 5>the aftermarket. Are you glad we're not managing your money?

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<v Speaker 2>All right?

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<v Speaker 4>I was just gonna say that, all right, let's go

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<v Speaker 4>to coinbas because crypto certainly was a trade today to the.

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<v Speaker 1>Upside, absolutely, Carol. So finally a bit of recovery in

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<v Speaker 1>risk asset and crypto in particular in coinbaz benefiting directly

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<v Speaker 1>from that. So took her see oh I And that

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<v Speaker 1>finished the day up four and a half percent on

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<v Speaker 1>one point. It was of more than fifteen percent a day,

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<v Speaker 1>and primarily because of that bitcoin rally. We did also

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<v Speaker 1>get political reporting some news Yes that apparently Ceo Brien

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<v Speaker 1>or Armstrong meant with President Trump, and that meeting especially

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<v Speaker 1>came before President Trump pushed for the passage of the

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<v Speaker 1>Crypto Market.

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<v Speaker 4>Structure Bill, pretty critical right out on truth about banks,

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<v Speaker 4>the traditional banking establishment, and also holding back.

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<v Speaker 3>He's also suing a bank right now.

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<v Speaker 5>He's doing a lot of things.

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<v Speaker 3>He's doing a lot of things as far as I know.

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<v Speaker 4>Yeah, Anyway, crypto man investors were kind of all in.

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<v Speaker 5>You saw a lot of names I.

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<v Speaker 4>Had a coinbase was up, strategy was up, Circle was up.

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<v Speaker 3>Right, there were a lot of the crypto adjacent stocks

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<v Speaker 3>and crypto related stocks. Crypto adjacent bit coins up seven

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<v Speaker 3>percent in a day.

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<v Speaker 5>It's like, are you adjacent to me right now? You

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<v Speaker 5>know it's for now?

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<v Speaker 4>Help because for now, for three more minutes that everybody

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<v Speaker 4>that hurts me.

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<v Speaker 5>No, I'm just kidding. Let's go to so coinbasse. I

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<v Speaker 5>think it was the number two gainer in.

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<v Speaker 1>The exactly one of the top leader's day.

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<v Speaker 5>Can we go to the number one gainer? Who is

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<v Speaker 5>the word'm getting gainer? It's well, I'm talking.

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<v Speaker 1>We'll talk about Moderna that's one of the top gainers

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<v Speaker 1>as well. Day.

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<v Speaker 5>Is it actually the number wait? I might have messed up, Yes.

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<v Speaker 1>Yes, Maderna.

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<v Speaker 5>Hey are you here?

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<v Speaker 4>Oh hey, Tim, all right, go to Maderna, because Maderna

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<v Speaker 4>again and outperformance today, So take her m r NA.

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<v Speaker 1>Those shares ended higher by nearly sixteen percent.

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<v Speaker 5>And so the.

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<v Speaker 1>News today is that, of course it is paying a

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<v Speaker 1>great pay nine hundred and fifty million dollars to settle

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<v Speaker 1>litigation related to the delivery technology behind it's COVID shot.

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<v Speaker 1>And some animals are saying that that figure is actually

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<v Speaker 1>less than feared initially, and so now this just lifts

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<v Speaker 1>that litigation overhand that Maderna has been fighting for a

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<v Speaker 1>while because of the suit, and according to Bloomery Intelligence

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<v Speaker 1>ables Sam Fazzelli, that settlement leaves a cash runway in

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<v Speaker 1>place through at least twenty twenty nine. So all things

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<v Speaker 1>considered a bit of a positive result from Moderna, and

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<v Speaker 1>we're seeing that in your share today.

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<v Speaker 5>Hmm.

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<v Speaker 3>So Carol reminded us that Moderna has fallen quite a

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<v Speaker 3>bit from those twenty twenty one highs. It's down eighty

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<v Speaker 3>seven percent still from that high of four hundred and

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<v Speaker 3>forty nine dollars.

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<v Speaker 5>We say, how much it was up this year? Did

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<v Speaker 5>you say?

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<v Speaker 4>No?

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<v Speaker 3>She didn't, But you can say it because you've said

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<v Speaker 3>it today already.

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<v Speaker 5>I haven't memorized I.

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<v Speaker 4>Listened to you.

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<v Speaker 5>No, you're not. Is it one hundred percent? Just a

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<v Speaker 5>shot ninety six percent to be exact.

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<v Speaker 3>Wow, But it was you know what I listened to you.

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<v Speaker 5>I know you do so much more I do listen

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<v Speaker 5>to you. But it's like kind of like, what.

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<v Speaker 3>This is what I'm saying I learned from.

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<v Speaker 4>You, Carol. Twenty percent though of a float is short,

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<v Speaker 4>so investors are still there's a fair amount of negative sentiment.

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<v Speaker 4>We can tell it's Wednesday, right after a crazy Monday, Tuesday.

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<v Speaker 5>Yeah, yeah, exactly. I don't know what day it is anyway,

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<v Speaker 5>Good stuff, Christine, Thank you so much. Christina Kino joining us. She,

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<v Speaker 5>of course, is managing editor for the Bloomberg Markets Live blog.

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