WEBVTT - Tesla Rises, Verizon Drops, Kimberly Clark Slides After Negative Forecast

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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<v Speaker 1>your roundup of companies making moves in the stock market

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look at some of those stocks on

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<v Speaker 2>the move today. We're joined now by Bloomberg's Built on

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<v Speaker 2>a Hirich.

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<v Speaker 3>Right.

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<v Speaker 4>Let's start with Verizon. What happened here with subscribers.

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<v Speaker 3>Yeah, we have Verizon Communications reporting a larger than expected

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<v Speaker 3>decline in mobile phone subscribers in the first quarter. And

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<v Speaker 3>what the company said is that this is a result

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<v Speaker 3>of very heavy competition. As we know, this space is

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<v Speaker 3>highly competitive, but also less spending by government agencies, and

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<v Speaker 3>so we have shares sliding. I think this is interesting

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<v Speaker 3>because we have sort of the reverberations from the Trump

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<v Speaker 3>administration moving to slash thousands of jobs as we know

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<v Speaker 3>since the president took office, and so now you're actually

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<v Speaker 3>seeing that coming to fruition for one of the companies.

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<v Speaker 2>That's interesting. I wander that competition too. It's just there's

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<v Speaker 2>only some many cell phones one will have. And let's

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<v Speaker 2>get to the main event. Let's be honest, it's Tesla.

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<v Speaker 2>After the closing bill, I was just reading a headline

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<v Speaker 2>that there were some governors that send a board to

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<v Speaker 2>a letter to the board started talking about Musk's role

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<v Speaker 2>in the government, like are we expecting fireworks today?

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<v Speaker 3>Well, this, as you said, is the company that everybody's watching.

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<v Speaker 3>We talked about it yesterday as well, after one of

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<v Speaker 3>its very prominent analysts said the company's facing a code

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<v Speaker 3>read moment. And we have Tesla reporting earnings later today,

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<v Speaker 3>and what people are looking for is for Elon Musk

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<v Speaker 3>to actually inject some excitement potentially on today's earnings call.

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<v Speaker 3>Given that we have the drop off in sales and

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<v Speaker 3>obviously we have a drop off in its stock price.

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<v Speaker 3>The year is off to a pretty bad start given

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<v Speaker 3>Musk's political entanglements.

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<v Speaker 4>Tesla sales have fallen to.

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<v Speaker 3>A nearly three year low in the first three months,

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<v Speaker 3>and so what a lot of analysts and a lot

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<v Speaker 3>of investors are looking for is potentially for Musk to

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<v Speaker 3>actually inject some of that excitement on today's call. I

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<v Speaker 3>know we spoke yesterday about whether or not he's going

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<v Speaker 3>to be part of the call. He will be on

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<v Speaker 3>the caller, he's expected to be on the call. He

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<v Speaker 3>has actually only missed one earnings call in his time as.

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<v Speaker 2>CEO, and I should point out Bilb was Treasurers of

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<v Speaker 2>a US States and the letter to the board.

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<v Speaker 4>But they're dressing concerns, so it holds. It does.

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<v Speaker 5>And I think you know, if you think about Tesla,

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<v Speaker 5>the stock forever has been tied to Elon Musk, it's

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<v Speaker 5>Elon Musk is Tesla, Tesla is Elon Musk. Talk about

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<v Speaker 5>key Man Risk.

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<v Speaker 4>Key Executive Ricks Risk.

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<v Speaker 5>You could argue that's the greatest company out there as

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<v Speaker 5>an example. So Dan ives at what Bush Securities again

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<v Speaker 5>yesterday calling out again for mister muskif put his focus

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<v Speaker 5>back on the company Kimberly Clark. What did they have

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<v Speaker 5>to say today?

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<v Speaker 3>Yeah, diaper maker Kimberly Clark is cutting its profit out

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<v Speaker 3>look and this is due to tariff costs. So we

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<v Speaker 3>have the company lowering profit expectations for the year and

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<v Speaker 3>they're citing uncertainty arising from the impact on the global

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<v Speaker 3>trade war on its costs. So we have the chief

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<v Speaker 3>executive officer saying the current environment will now mean greater

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<v Speaker 3>costs across our global supply chain versus our expectations at the.

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<v Speaker 4>Beginning of the year. So just goes to show you

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<v Speaker 4>how quickly things can change, and change in a matter

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<v Speaker 4>a matter of just a couple of months.

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