1 00:00:02,520 --> 00:00:08,720 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 00:00:16,720 --> 00:00:18,760 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,800 --> 00:00:22,160 Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Starting us 6 00:00:22,200 --> 00:00:25,200 Speaker 1: off with a stock that's putting the AI trade back 7 00:00:25,239 --> 00:00:28,120 Speaker 1: in focus following earnings from Broadcom. 8 00:00:28,160 --> 00:00:32,240 Speaker 3: Good morning, Dan, Good morning Nathan. That's right. Broadcom ticker 9 00:00:32,280 --> 00:00:35,680 Speaker 3: AVGO is up six and a half percent this morning. 10 00:00:35,960 --> 00:00:39,560 Speaker 3: That says the CEO says AI chip sales will hit 11 00:00:39,840 --> 00:00:42,360 Speaker 3: one hundred billion dollars next year as the company looks 12 00:00:42,400 --> 00:00:45,680 Speaker 3: to challenge in video. That is a very optimistic outlook. 13 00:00:45,840 --> 00:00:49,200 Speaker 3: It's total AI chip sales were twenty billion last year. 14 00:00:49,240 --> 00:00:51,559 Speaker 3: It's projecting ten billion dollars a little bit over ten 15 00:00:51,600 --> 00:00:55,240 Speaker 3: billion this quarter. So that's an absolutely massive jump. Now, 16 00:00:55,320 --> 00:00:58,240 Speaker 3: a big focus for the AI trade has been the 17 00:00:58,280 --> 00:01:01,200 Speaker 3: supply chain and the company, the CEO saying that he 18 00:01:01,320 --> 00:01:03,560 Speaker 3: secured the supply chain to get the sales up to 19 00:01:03,560 --> 00:01:07,080 Speaker 3: that level. Overall, the company sees total revenue this quarter 20 00:01:07,200 --> 00:01:09,920 Speaker 3: around twenty two billion dollars. That's higher than estimates. It's 21 00:01:09,920 --> 00:01:12,800 Speaker 3: also announced a buyback plan for up to ten billion 22 00:01:12,880 --> 00:01:15,800 Speaker 3: dollars in shares. It's gotten a lift recently from deals 23 00:01:15,840 --> 00:01:19,120 Speaker 3: with both Anthropic and Open Ai for custom AI chips. 24 00:01:19,319 --> 00:01:22,160 Speaker 3: That stock really just taken off in the pre market. 25 00:01:22,240 --> 00:01:25,160 Speaker 1: Yeah, obviously the big earning story after hours this morning, 26 00:01:25,160 --> 00:01:28,560 Speaker 1: we've heard from Kroger. Not an AI name at all, 27 00:01:28,560 --> 00:01:30,080 Speaker 1: but how's Kroger doing this morning? 28 00:01:30,280 --> 00:01:32,280 Speaker 3: Yeah, so Kroger was up a little bit. It's now 29 00:01:32,360 --> 00:01:34,400 Speaker 3: down about two tenths of a percent in the pre 30 00:01:34,480 --> 00:01:38,480 Speaker 3: market ticker k are. The fourth quarter earnings did beat estimates. 31 00:01:38,480 --> 00:01:41,480 Speaker 3: Revenue with somewhat light but the company is calling for 32 00:01:41,520 --> 00:01:44,640 Speaker 3: identical store sales excluding fuel to rise one to two 33 00:01:44,720 --> 00:01:48,280 Speaker 3: percent this year. That indicates a cautious outlook under the 34 00:01:48,280 --> 00:01:52,400 Speaker 3: new CEO. The Kroger's, which is the America's largest grocery 35 00:01:52,400 --> 00:01:56,160 Speaker 3: store chain, that's seeing increased competition as consumer seek to 36 00:01:56,160 --> 00:01:59,520 Speaker 3: stretch their dollars, So that competition weighing on the forecast. 37 00:01:59,600 --> 00:02:01,640 Speaker 3: Shares down about two tenths right now. 38 00:02:01,600 --> 00:02:05,040 Speaker 1: And right now, the most or I'm sorry, the biggest 39 00:02:05,080 --> 00:02:08,880 Speaker 1: gainer in the pre market is Trade Desk. 40 00:02:09,080 --> 00:02:12,720 Speaker 3: That's right, ticker TTD is up nearly twenty percent in 41 00:02:12,800 --> 00:02:15,919 Speaker 3: pre market. That's after a report from the Information that 42 00:02:15,960 --> 00:02:18,280 Speaker 3: the company is in early talks with open ai to 43 00:02:18,320 --> 00:02:21,120 Speaker 3: sell ads. So open Ai, which has launched ads and 44 00:02:21,200 --> 00:02:23,839 Speaker 3: chat GPT, it's going to partner with the trade desk. 45 00:02:23,880 --> 00:02:27,560 Speaker 3: According to people familiar with the matter, open Ai will 46 00:02:27,560 --> 00:02:30,360 Speaker 3: eventually bring that in house, but Trade Desk right now 47 00:02:30,639 --> 00:02:32,560 Speaker 3: will be used to reach the nine hundred and ten 48 00:02:32,639 --> 00:02:35,919 Speaker 3: million users on chat GP, most of them don't pay 49 00:02:35,960 --> 00:02:38,519 Speaker 3: for the subscription. Trade desk has seen a bit of 50 00:02:38,560 --> 00:02:40,720 Speaker 3: AI pressure, has the ampit of stock pressure. Those shares 51 00:02:40,720 --> 00:02:43,320 Speaker 3: are down over seventy percent from last year's high. But 52 00:02:43,440 --> 00:02:45,880 Speaker 3: this it's moving into the AI space a bit, getting 53 00:02:45,919 --> 00:02:46,880 Speaker 3: a nice pop. 54 00:02:46,800 --> 00:02:49,520 Speaker 1: And we're seeing a pop as well for Robinhood shares. 55 00:02:49,680 --> 00:02:52,679 Speaker 1: It's moving into a different space of its own. 56 00:02:52,800 --> 00:02:55,399 Speaker 3: That's right. So Robinhood is introducing a new credit card 57 00:02:55,480 --> 00:02:58,200 Speaker 3: with nearly seven hundred dollars annual fee. It's calling it 58 00:02:58,240 --> 00:03:01,760 Speaker 3: the actual Platinum Card, so it's going to give it. 59 00:03:02,280 --> 00:03:04,920 Speaker 3: It's going to give cardholders cash back on dining, hotels, 60 00:03:04,919 --> 00:03:08,440 Speaker 3: rental cars, challenging amex in the space. It follows a 61 00:03:08,480 --> 00:03:11,600 Speaker 3: free Gold card that it launched two years ago. The 62 00:03:11,680 --> 00:03:14,520 Speaker 3: pack raw VP of robin Hood's money businesses. Demand for 63 00:03:14,520 --> 00:03:17,600 Speaker 3: a card with higher spending limits has really been in 64 00:03:17,680 --> 00:03:21,520 Speaker 3: focus as people have quote tried to buy satellites end 65 00:03:21,560 --> 00:03:24,839 Speaker 3: quote on robin Hood's Gold Card but hit the spending cap. 66 00:03:26,000 --> 00:03:30,040 Speaker 2: This stock Movers report from Bloomberg Radio. Check back with 67 00:03:30,120 --> 00:03:32,679 Speaker 2: us throughout the day for the latest roundup of companies 68 00:03:32,760 --> 00:03:35,880 Speaker 2: making news on Wall Street and for the latest market 69 00:03:35,880 --> 00:03:40,360 Speaker 2: moving headlines. 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