Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel. Starting off
Speaker 3: with a stock that may be moving on social media headlines,
Speaker 3: val Tesla.
Speaker 2: Good morning in the.
Speaker 1: News yet again, Elon Musk and Tesla. Their shares are
Speaker 1: rebounding two percent in pre market trade on some decent volumes.
Speaker 1: That comes after the CEO Elon Musk, posted on x
Speaker 1: just a few hours ago saying that quote, I regret
Speaker 1: some of my posts about President Trump last week. They
Speaker 1: went too far. Maybe it's paving the way for the
Speaker 1: friendship to return. Might be too much of a stretch.
Speaker 1: But whatever, Tesla shares are seeming to like it this morning,
Speaker 1: up two percent.
Speaker 3: Yeah, and they're also waiting for a Robotaxi rollout as
Speaker 3: well for Tesla, so that could be adding to some
Speaker 3: of the positive sentiment.
Speaker 2: There.
Speaker 3: Negative sentiment though, this morning for Lockheed Martin.
Speaker 1: Yeah, that's right. Lockheed Martin ticker LMT is down nearly
Speaker 1: two and a half percent in pre market trade. It
Speaker 1: comes after the Pentagon has cut in half its requests
Speaker 1: for its signature F thirty five's, dealing a blow to Lockeyed,
Speaker 1: the top US defense contractor. The number of F thirty
Speaker 1: fives requested dropped from twenty four from forty eight, so
Speaker 1: cut in half scaling back of the F forty five's
Speaker 1: requests may reflect one way the Pentagon is dealing with
Speaker 1: Defense Secretary Pete hegg Seth's plan to reduce military spending.
Speaker 1: Manned aircraft were not among one of the seventeen areas
Speaker 1: that heg Seth protected from cuts back in February, but
Speaker 1: one area that he did safeguard was the air Force
Speaker 1: newest drone program. And to that note, we have shares
Speaker 1: of Ouster jumping twenty seven percent after the Department of
Speaker 1: Defense gave it some approval for unmanned drone aircraft. So
Speaker 1: some winners and losers to the defense Department of Defense
Speaker 1: pulling back on spending.
Speaker 3: Oh wow, Okay, so we saw some headlines about how
Speaker 3: General Motors could be trying to get around tariffs. How's
Speaker 3: General Motors doing this morning?
Speaker 1: GM is outperforming, not by that much. It's up by
Speaker 1: less than one percent, up by three fourths of a
Speaker 1: percent on a plan production shift to the US from Mexico.
Speaker 1: GM plans to invest around four billion dollars in its
Speaker 1: US plants over the next two years to boost output
Speaker 1: of some of its top selling gas powered vehicles. This
Speaker 1: comes as the company works to manage President Donald Trump's
Speaker 1: tariffs on Mexico. Plants in Michigan, Kansas, and Tennessee will
Speaker 1: expand finished vehicle production. Moving this capacity from Mexico into
Speaker 1: the US, GM plans to add between three thousand and
Speaker 1: four thousand US jobs, and the shift marks one of
Speaker 1: the biggest pivots yet by an automaker in response to
Speaker 1: Trump's tariffs. It's GM up nearly one percent this morning.
Speaker 3: And finally, Valerie, it looks like this could be the
Speaker 3: morning to be an investor in quantum computing.
Speaker 1: Yeah, quantum computing stocks have been given a boost by
Speaker 1: some comments from the Navidia CEO. You have the likes
Speaker 1: of quantum computing up almost eight percent, S'ghetti Computing, ion
Speaker 1: Q up around four percent. Justin Huang had said in
Speaker 1: a conference at Paris that quantum computing is reaching an
Speaker 1: inflection point. It is quite a bullish shift for the
Speaker 1: Navidia CEO, who previously said that quantum computing technology was
Speaker 1: ten to twenty years away from being useful, so that
Speaker 1: sector having a bit of rebound on Jenson Chuang's bullish comments.
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with
Speaker 2: us throughout today for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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