1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,400 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:18,400 --> 00:00:22,079 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel, as we 6 00:00:22,200 --> 00:00:26,400 Speaker 3: watch stocks move on earnings, including red headlines just crossing 7 00:00:26,440 --> 00:00:30,360 Speaker 3: the Bloomberg terminal. Valerie on Uber, take us through it. 8 00:00:30,400 --> 00:00:30,920 Speaker 3: Good morning. 9 00:00:31,160 --> 00:00:34,040 Speaker 1: It's looking like a fairly positive one for Uber. Shares 10 00:00:34,040 --> 00:00:36,760 Speaker 1: are up almost four percent so far in pre market trade. 11 00:00:37,000 --> 00:00:41,000 Speaker 1: Seems like the third quarter gross bookings came in above expectations, 12 00:00:41,000 --> 00:00:43,960 Speaker 1: and there's also redhead crossing the terminal that Uber is 13 00:00:43,960 --> 00:00:48,080 Speaker 1: to buy up an additional twenty billion dollars worth in shares, 14 00:00:48,080 --> 00:00:49,760 Speaker 1: So it seems like a beat for Uber. I think 15 00:00:49,760 --> 00:00:52,879 Speaker 1: investors will also be looking out for any details of 16 00:00:53,000 --> 00:00:57,120 Speaker 1: Uber's partnership with Alphabet's Waimo on the autonomous vehicle expansion. 17 00:00:57,160 --> 00:00:59,680 Speaker 1: I see nothing yet on the terminal about those kind 18 00:00:59,680 --> 00:01:03,160 Speaker 1: of number, but it's taking fairly These results are taken 19 00:01:03,240 --> 00:01:05,480 Speaker 1: very positively by the market. Uber is up two percent 20 00:01:05,560 --> 00:01:06,800 Speaker 1: so far in pre market trade. 21 00:01:06,840 --> 00:01:09,920 Speaker 3: Now it seems like the earnings are being taken less positively. 22 00:01:10,000 --> 00:01:13,760 Speaker 3: From the standout that's reporting among all the companies that 23 00:01:13,800 --> 00:01:15,920 Speaker 3: are scheduled to post their results today, and that would 24 00:01:15,959 --> 00:01:17,280 Speaker 3: be Disney this morning. 25 00:01:17,600 --> 00:01:20,520 Speaker 1: Disney this morning is down around two percent. Now, this 26 00:01:20,600 --> 00:01:22,760 Speaker 1: is a long one to explain because there's a various 27 00:01:22,800 --> 00:01:26,000 Speaker 1: things being announced aside from earnings, but there is some 28 00:01:26,040 --> 00:01:28,600 Speaker 1: disappointment in the earning, so let's start there. Even though 29 00:01:28,640 --> 00:01:32,319 Speaker 1: they raise their profit forecast above estimates, it seems like 30 00:01:32,360 --> 00:01:36,280 Speaker 1: the focus on revenue from conventional TV networks and sports 31 00:01:36,319 --> 00:01:39,840 Speaker 1: programming has fallen a bit short of Wall Street expectations, 32 00:01:40,560 --> 00:01:43,840 Speaker 1: despite the strong performance in the company's theme parks and 33 00:01:43,880 --> 00:01:47,000 Speaker 1: the streaming business. But there's also separately been an announcement 34 00:01:47,600 --> 00:01:51,880 Speaker 1: that Disney's ESPN and the NFL's media assets will be 35 00:01:52,400 --> 00:01:56,640 Speaker 1: somewhat They'll be increasing their tie up with the NFL, 36 00:01:56,800 --> 00:02:00,280 Speaker 1: acquiring a ten percent stake in ESPN sport Busines. So 37 00:02:00,320 --> 00:02:02,680 Speaker 1: originally these shares were up as much as four point 38 00:02:02,720 --> 00:02:05,200 Speaker 1: four percent on this tie up with NFL, but that 39 00:02:05,280 --> 00:02:08,280 Speaker 1: seems like it's been overshadowed with the disappointment in the earnings, 40 00:02:08,440 --> 00:02:10,440 Speaker 1: and those shares are now down around one percent. So 41 00:02:10,480 --> 00:02:12,960 Speaker 1: it's been a wild ride for Disney and it's not 42 00:02:13,040 --> 00:02:13,840 Speaker 1: even seven am. 43 00:02:14,000 --> 00:02:16,760 Speaker 3: I know, no kidding now. In terms of some of 44 00:02:16,800 --> 00:02:20,919 Speaker 3: the store the stocks that reported results after the close yesterday, 45 00:02:21,440 --> 00:02:25,520 Speaker 3: two of the standouts there are just getting hammered this morning. 46 00:02:25,840 --> 00:02:28,360 Speaker 1: Yeah, let's start with AMD. Those shares are down nearly 47 00:02:28,440 --> 00:02:31,400 Speaker 1: seven percent in pre market trade. It just seemes it 48 00:02:31,440 --> 00:02:34,080 Speaker 1: seems like the stock is drifting lower over the hours. 49 00:02:34,120 --> 00:02:36,960 Speaker 1: This is the world's second largest chip maker, and the 50 00:02:37,000 --> 00:02:42,399 Speaker 1: disappointment here came around their China revenue guidance. The CEO 51 00:02:42,440 --> 00:02:45,360 Speaker 1: and during the whole conference call, analyst repeatedly asked for 52 00:02:45,400 --> 00:02:48,480 Speaker 1: a specific outlook on how much China AI revenue the 53 00:02:48,480 --> 00:02:50,880 Speaker 1: company will get, and when they were unable to answer, 54 00:02:50,919 --> 00:02:54,000 Speaker 1: that sore a bit more pessimistic on getting these export 55 00:02:54,080 --> 00:02:58,400 Speaker 1: licenses in order to export their China specific chip back 56 00:02:58,400 --> 00:03:02,079 Speaker 1: into the Chinese market. Did not include any China chip 57 00:03:02,080 --> 00:03:05,079 Speaker 1: revenue in its guidance, and so there's some disappointment off 58 00:03:05,080 --> 00:03:07,840 Speaker 1: the back of that, despite there being a beat and 59 00:03:08,040 --> 00:03:10,680 Speaker 1: a higher than expected forecast behind it. 60 00:03:11,080 --> 00:03:14,800 Speaker 3: Okay, and even worse performance it seems for a super 61 00:03:14,840 --> 00:03:17,639 Speaker 3: micro computer that stock is tanking this morning. 62 00:03:17,919 --> 00:03:21,960 Speaker 1: Yeah, super Micro down seventeen percent Nathan in pre market trade. Now. 63 00:03:22,000 --> 00:03:26,320 Speaker 1: Super Micro sells AI servers in hardware to hyper scalers. 64 00:03:26,360 --> 00:03:29,520 Speaker 1: There were some disappointment when it came to guidance. They 65 00:03:29,560 --> 00:03:32,680 Speaker 1: lowered their revenue forecast to the range of around thirty 66 00:03:32,680 --> 00:03:35,840 Speaker 1: three billion dollars and compare that to their bullish forecast 67 00:03:35,880 --> 00:03:39,200 Speaker 1: they gave back in February of around forty billion. It's 68 00:03:39,240 --> 00:03:40,920 Speaker 1: disappointing the market this morning. 69 00:03:40,960 --> 00:03:41,160 Speaker 2: Now. 70 00:03:41,360 --> 00:03:44,520 Speaker 1: Super Micro shares have surged around ninety percent so far 71 00:03:44,600 --> 00:03:47,520 Speaker 1: this year on optimism that it would benefit from soaring 72 00:03:47,560 --> 00:03:50,360 Speaker 1: demand for AI gear. One of their main clients is 73 00:03:50,560 --> 00:03:53,240 Speaker 1: likes of Navidia, But instead, it seems like the results 74 00:03:53,240 --> 00:03:57,280 Speaker 1: today have raised some questions about its ability to capitalize 75 00:03:57,280 --> 00:04:00,840 Speaker 1: on the demand for artificial intelligence equipment with the latest 76 00:04:00,880 --> 00:04:03,440 Speaker 1: round of cap X spending. They've also been struggling a 77 00:04:03,440 --> 00:04:07,280 Speaker 1: bit on margins, so seeming like this very competitive landscape. 78 00:04:07,320 --> 00:04:10,160 Speaker 1: Some are suffering, some are winning. Super Micro is to 79 00:04:10,200 --> 00:04:13,440 Speaker 1: the downside and that guy's down seventeen percent in pre 80 00:04:13,520 --> 00:04:14,920 Speaker 1: market trade on this disappointment. 81 00:04:16,160 --> 00:04:20,159 Speaker 2: This stock movers report from Bloomberg Radio. 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