1
00:00:02,520 --> 00:00:09,040
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.

2
00:00:08,880 --> 00:00:13,160
Speaker 2: Stock Movers podcast, your roundup of companies making moves in

3
00:00:13,200 --> 00:00:16,480
Speaker 2: the stock market harnessing the power of Bloomberg Data.

4
00:00:17,800 --> 00:00:19,799
Speaker 3: Let's take a look at some stocks on the move today.

5
00:00:19,840 --> 00:00:23,360
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel with good

6
00:00:23,400 --> 00:00:26,480
Speaker 3: news and bad news when it comes to tech earnings

7
00:00:26,480 --> 00:00:28,800
Speaker 3: and Valerie, let's start with the good news.

8
00:00:28,960 --> 00:00:29,760
Speaker 4: Yeah, let's start with.

9
00:00:29,680 --> 00:00:30,240
Speaker 2: The good news.

10
00:00:30,280 --> 00:00:32,120
Speaker 4: Good morning, Good morning, Nathan.

11
00:00:32,200 --> 00:00:35,199
Speaker 1: Yes, the good news starts with Alpha Vet beat across

12
00:00:35,280 --> 00:00:38,760
Speaker 1: the board, showing that this AI demand is rolling on,

13
00:00:39,000 --> 00:00:42,200
Speaker 1: beating its cloud revenue. Its Google search revenue also came

14
00:00:42,240 --> 00:00:45,120
Speaker 1: above estimates, and then the company said that it is

15
00:00:45,240 --> 00:00:48,840
Speaker 1: raising its capital spending by ten billion dollars to eighty

16
00:00:48,880 --> 00:00:52,159
Speaker 1: five billion this year, citing rising demand for cloud and

17
00:00:52,240 --> 00:00:55,880
Speaker 1: AI services, with the CEO explaining that this kind of

18
00:00:55,920 --> 00:00:59,319
Speaker 1: investment is necessary to keep up with customer needs. It's

19
00:00:59,360 --> 00:01:02,160
Speaker 1: also giving eight boosts to chip makers. This rise in

20
00:01:02,200 --> 00:01:06,600
Speaker 1: Capex is seeing the video rise one percent and Broadcom

21
00:01:06,720 --> 00:01:09,199
Speaker 1: rise two point four percent. But this is a good

22
00:01:09,800 --> 00:01:12,600
Speaker 1: beat for Alphabet. The shares are rising near three and

23
00:01:12,600 --> 00:01:14,119
Speaker 1: a half percent in pre market.

24
00:01:14,160 --> 00:01:15,400
Speaker 4: This morning, Nathan.

25
00:01:15,520 --> 00:01:18,000
Speaker 3: And the bad news Tesla.

26
00:01:18,640 --> 00:01:22,000
Speaker 1: Tesla did miss across the board. The ev maker reported

27
00:01:22,080 --> 00:01:25,920
Speaker 1: second quarter results that missed already lowered Wall Street expectations.

28
00:01:25,920 --> 00:01:29,240
Speaker 1: Those shares are trading down six percent so far in

29
00:01:29,360 --> 00:01:30,279
Speaker 1: pre market trade.

30
00:01:30,319 --> 00:01:32,120
Speaker 4: Revenue fell twelve percent.

31
00:01:32,160 --> 00:01:35,919
Speaker 1: Which is at Sharpite's sharpest decline in a decade. Nathan

32
00:01:35,959 --> 00:01:40,400
Speaker 1: the CEO warned of a quote few rough quarters ahead

33
00:01:40,480 --> 00:01:44,080
Speaker 1: as Tesla loses ev incentives in the US, and last

34
00:01:44,080 --> 00:01:46,160
Speaker 1: time I checked, a few meant three or more, So

35
00:01:46,280 --> 00:01:48,720
Speaker 1: it might be safe to say that Tesla is headed

36
00:01:48,720 --> 00:01:49,400
Speaker 1: for a hard year.

37
00:01:49,440 --> 00:01:50,960
Speaker 4: Those shares are down six percent.

38
00:01:51,200 --> 00:01:54,320
Speaker 3: Yeah, you wonder about the magnificent seven whether it should

39
00:01:54,520 --> 00:01:58,520
Speaker 3: be that high. We've got more tech earnings as well.

40
00:01:58,760 --> 00:01:59,760
Speaker 3: Of how'd IBM do.

41
00:02:00,440 --> 00:02:02,640
Speaker 1: IBM came in with a miss. Actually, those shares are

42
00:02:02,680 --> 00:02:06,600
Speaker 1: down just over five percent. The company did beat on

43
00:02:06,720 --> 00:02:10,600
Speaker 1: revenue expectations in consulting and infrastructure, but it did not

44
00:02:10,800 --> 00:02:14,720
Speaker 1: deliver upside and it's hotly watched software segment. Sales for

45
00:02:14,800 --> 00:02:19,840
Speaker 1: the software unit grew slower than expected, falling short of expectations.

46
00:02:20,200 --> 00:02:24,240
Speaker 1: Investors now they have been enthusiastic about IBM software business

47
00:02:24,480 --> 00:02:27,400
Speaker 1: for the potential for future growth from AI tools and

48
00:02:27,480 --> 00:02:30,240
Speaker 1: quantumpt in computing, and that division does make up more

49
00:02:30,240 --> 00:02:33,400
Speaker 1: than forty percent of IBM's annual revenue, so investors were

50
00:02:33,400 --> 00:02:36,120
Speaker 1: a bit underwhelmed to see these sales results for the

51
00:02:36,120 --> 00:02:39,520
Speaker 1: software unit come in soft and those shares are declining

52
00:02:39,560 --> 00:02:42,520
Speaker 1: this morning, IBM down five point three percent.

53
00:02:42,480 --> 00:02:44,800
Speaker 3: And we got some earnings as well from T Mobile.

54
00:02:44,840 --> 00:02:46,280
Speaker 3: This looks like a positive.

55
00:02:45,880 --> 00:02:48,400
Speaker 1: Story, positive story for Team Mobile. Those shares are up

56
00:02:48,480 --> 00:02:51,480
Speaker 1: nearly five percent in pre market trade. They reported better

57
00:02:51,520 --> 00:02:56,040
Speaker 1: than expected earnings and revenue. Also reported more new subscribers

58
00:02:56,120 --> 00:02:59,959
Speaker 1: than expected and raised their guidance for net customer editions.

59
00:03:00,200 --> 00:03:03,400
Speaker 1: The CEO is hoping that the addition of satellite based

60
00:03:03,520 --> 00:03:07,200
Speaker 1: texting and data service will help attract and retain customers

61
00:03:07,200 --> 00:03:09,360
Speaker 1: for the long term, and it seems like investors like

62
00:03:09,400 --> 00:03:10,520
Speaker 1: hearing that kind of narrative.

63
00:03:10,520 --> 00:03:12,280
Speaker 4: T Mobile up four point nine percent.

64
00:03:12,560 --> 00:03:14,720
Speaker 3: So we've moved on to tech earnings here in the US,

65
00:03:14,880 --> 00:03:17,320
Speaker 3: but over in Europe they're still doing financials.

66
00:03:18,600 --> 00:03:20,960
Speaker 1: They are We're a bit behind over here in London,

67
00:03:20,960 --> 00:03:24,440
Speaker 1: but yes, European banks are also beating on fixed income

68
00:03:24,480 --> 00:03:27,800
Speaker 1: trading revenue, which seems to be the big theme Deutsche

69
00:03:27,840 --> 00:03:31,000
Speaker 1: Bank is trading up seven percent. We also heard from

70
00:03:31,040 --> 00:03:33,720
Speaker 1: BMP those shares are up one point seven percent as well.

71
00:03:33,760 --> 00:03:37,480
Speaker 1: Both of those banks reported better than expected trading results,

72
00:03:37,560 --> 00:03:40,800
Speaker 1: mirroring the strength we saw across a Wall Street. The

73
00:03:40,840 --> 00:03:44,040
Speaker 1: CEO of Deutsche Bank, Christen Saving, says that results put

74
00:03:44,120 --> 00:03:46,800
Speaker 1: the bank on track to meet its targets for the year.

75
00:03:46,840 --> 00:03:49,960
Speaker 1: So upside for European banks, with Deutsche Bank rising seven percent.

76
00:03:51,400 --> 00:03:55,520
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

77
00:03:55,600 --> 00:03:58,360
Speaker 2: us throughout the day for the latest roundup of companies

78
00:03:58,400 --> 00:04:01,480
Speaker 2: making news on Wall Street and for the latest market

79
00:04:01,480 --> 00:04:05,880
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

80
00:04:05,920 --> 00:04:09,160
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with

81
00:04:09,240 --> 00:04:10,680
Speaker 2: the Bloomberg Business app.