WEBVTT - Tesla Rebound; Lockheed Martin Sales Concern; GM Production Shift

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers podcast, your roundup of companies making moves in

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

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Valerie Titel. Starting off

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<v Speaker 3>with a stock that may be moving on social media headlines,

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<v Speaker 3>val Tesla.

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<v Speaker 2>Good morning in the.

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<v Speaker 1>News yet again, Elon Musk and Tesla. Their shares are

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<v Speaker 1>rebounding two percent in pre market trade on some decent volumes.

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<v Speaker 1>That comes after the CEO Elon Musk, posted on x

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<v Speaker 1>just a few hours ago saying that quote, I regret

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<v Speaker 1>some of my posts about President Trump last week. They

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<v Speaker 1>went too far. Maybe it's paving the way for the

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<v Speaker 1>friendship to return. Might be too much of a stretch.

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<v Speaker 1>But whatever, Tesla shares are seeming to like it this morning,

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<v Speaker 1>up two percent.

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<v Speaker 3>Yeah, and they're also waiting for a Robotaxi rollout as

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<v Speaker 3>well for Tesla, so that could be adding to some

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<v Speaker 3>of the positive sentiment.

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<v Speaker 2>There.

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<v Speaker 3>Negative sentiment though, this morning for Lockheed Martin.

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<v Speaker 1>Yeah, that's right. Lockheed Martin ticker LMT is down nearly

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<v Speaker 1>two and a half percent in pre market trade. It

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<v Speaker 1>comes after the Pentagon has cut in half its requests

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<v Speaker 1>for its signature F thirty five's, dealing a blow to Lockeyed,

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<v Speaker 1>the top US defense contractor. The number of F thirty

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<v Speaker 1>fives requested dropped from twenty four from forty eight, so

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<v Speaker 1>cut in half scaling back of the F forty five's

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<v Speaker 1>requests may reflect one way the Pentagon is dealing with

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<v Speaker 1>Defense Secretary Pete hegg Seth's plan to reduce military spending.

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<v Speaker 1>Manned aircraft were not among one of the seventeen areas

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<v Speaker 1>that heg Seth protected from cuts back in February, but

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<v Speaker 1>one area that he did safeguard was the air Force

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<v Speaker 1>newest drone program. And to that note, we have shares

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<v Speaker 1>of Ouster jumping twenty seven percent after the Department of

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<v Speaker 1>Defense gave it some approval for unmanned drone aircraft. So

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<v Speaker 1>some winners and losers to the defense Department of Defense

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<v Speaker 1>pulling back on spending.

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<v Speaker 3>Oh wow, Okay, so we saw some headlines about how

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<v Speaker 3>General Motors could be trying to get around tariffs. How's

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<v Speaker 3>General Motors doing this morning?

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<v Speaker 1>GM is outperforming, not by that much. It's up by

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<v Speaker 1>less than one percent, up by three fourths of a

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<v Speaker 1>percent on a plan production shift to the US from Mexico.

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<v Speaker 1>GM plans to invest around four billion dollars in its

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<v Speaker 1>US plants over the next two years to boost output

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<v Speaker 1>of some of its top selling gas powered vehicles. This

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<v Speaker 1>comes as the company works to manage President Donald Trump's

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<v Speaker 1>tariffs on Mexico. Plants in Michigan, Kansas, and Tennessee will

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<v Speaker 1>expand finished vehicle production. Moving this capacity from Mexico into

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<v Speaker 1>the US, GM plans to add between three thousand and

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<v Speaker 1>four thousand US jobs, and the shift marks one of

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<v Speaker 1>the biggest pivots yet by an automaker in response to

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<v Speaker 1>Trump's tariffs. It's GM up nearly one percent this morning.

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<v Speaker 3>And finally, Valerie, it looks like this could be the

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<v Speaker 3>morning to be an investor in quantum computing.

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<v Speaker 1>Yeah, quantum computing stocks have been given a boost by

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<v Speaker 1>some comments from the Navidia CEO. You have the likes

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<v Speaker 1>of quantum computing up almost eight percent, S'ghetti Computing, ion

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<v Speaker 1>Q up around four percent. Justin Huang had said in

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<v Speaker 1>a conference at Paris that quantum computing is reaching an

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<v Speaker 1>inflection point. It is quite a bullish shift for the

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<v Speaker 1>Navidia CEO, who previously said that quantum computing technology was

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<v Speaker 1>ten to twenty years away from being useful, so that

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<v Speaker 1>sector having a bit of rebound on Jenson Chuang's bullish comments.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout today for the latest roundup of companies making

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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