Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, 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 with a
Speaker 3: lot of earning stories to tell this morning. Valerie, let's
Speaker 3: start with the new What did we get from AT
Speaker 3: and T this morning?
Speaker 4: It was a decent beat for AT and T.
Speaker 1: Shares are up two point eight percent so far in
Speaker 1: the pre market.
Speaker 4: The wireless provider added.
Speaker 1: More mobile phone and home internet subscribers than expected after
Speaker 1: what was a heavy promotional push in the quarter. They
Speaker 1: did miss just slightly on revenue, but AT and T
Speaker 1: added that the full year earnings per share would land
Speaker 1: in the upper range of their previous guidance. Now. AT
Speaker 1: and T is the first of the major wireless providers
Speaker 1: to report results. It's been positive so far. We have
Speaker 1: T Mobile on deck tomorrow morning.
Speaker 3: Okay, so some positivity to take our attention away from
Speaker 3: the disappointment that we've been talking about all morning. From Netflix.
Speaker 1: Netflix down six and a half percent. Nathan, a surprise
Speaker 1: six hundred million dollars tax dispute with Brazil cut into
Speaker 1: its earnings, which meantes operating income came in less than expected.
Speaker 1: Executives were quick to say they don't expect this issue
Speaker 1: with Brazil to have a meaningful impact on quarters to come.
Speaker 1: It was just a one off charge. But outside of this,
Speaker 1: the earnings looked pretty decent. They were given a boost
Speaker 1: by the movie K Pop Demon Hunters.
Speaker 4: Not sure if you've seen it yet, Nathan, but going on.
Speaker 1: I've seen it, the most popular Netflix film of all time.
Speaker 1: They also sought to comfort investors excuse me, who are
Speaker 1: worried that AI generated video content is affecting its business model.
Speaker 1: Netflix address this in a letter to shareholders, touting record
Speaker 1: subscriber engagement in the previous quarter, in the fact that
Speaker 1: they don't see AI general videos weighing on the streaming giant. Instead,
Speaker 1: they see it hitting more of the likes of user
Speaker 1: generated content such as the videos you see on TikTok
Speaker 1: and Instagram.
Speaker 3: So they hope things will be golden later on. Less
Speaker 3: golden for Texas Instruments. So this was just not a
Speaker 3: good story all around.
Speaker 1: Yeah, Texas instrument is down seven point seven percent. In
Speaker 1: the pre market. This is the biggest maker of analog chips.
Speaker 1: They gave a disappointing forecast for a second quarter in
Speaker 1: a row. It's just adding to concerns that the turnaround
Speaker 1: for the analog chip sector is sputtering. The CEO saying
Speaker 1: customers are still in a wait and see approach to
Speaker 1: their chip demands, to the capital expenditures as tariff uncertainty
Speaker 1: continues to slow down business decisions. They highlighted particular weakness
Speaker 1: in autos and in their China business.
Speaker 3: Speaking of tariff uncertainty, I guess that's why Mattel's taking
Speaker 3: a beating this morning.
Speaker 1: Yeah, Matt's El down six point four percent, sales dipping
Speaker 1: as tariff uncertainty has delayed some customers orders. Now North
Speaker 1: America sales declined twelve percent from last year. Nathan, the CEO, says,
Speaker 1: though the customers orders are delayed, they're not necessarily canceled
Speaker 1: and they are expecting a boost in fourth quarter sales.
Speaker 3: Finally, Valerie explained beyond meat to me, why is it
Speaker 3: up ninety seven percent right now?
Speaker 4: This one might take longer than sixty seconds.
Speaker 1: Name beyond meat, these shares are doubling in the pre market.
Speaker 4: It really has gotten silly.
Speaker 1: They essentially went from fifty cents four days ago to
Speaker 1: now seven dollars and forty cents per share in four sessions,
Speaker 1: which is a spike of thirteen hundred percent. Now, the
Speaker 1: original spike on this week was on the back of
Speaker 1: a social media frenzy.
Speaker 4: It got added to yesterday after.
Speaker 1: Walmart announced that it will increase the availability of beyond
Speaker 1: meat products in its stores. And this all comes after
Speaker 1: a very heavy dilution of shareholders after a debt swap
Speaker 1: last week. So it's gone to a penny stock to
Speaker 1: now seven dollars from twenty cents, doubling in the pre market.
Speaker 2: Stockmover's report from Bloomberg Radio. Check back with us throughout
Speaker 2: the day for the latest roundup of companies making news
Speaker 2: on Wall Street and for the latest market moving headlines.
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