Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
Speaker 1: your roundup of companies making moves in the stock market
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some of those stocks on
Speaker 2: the move today. We're joined now by Bloomberg's Built on
Speaker 2: a Hirich.
Speaker 3: Right.
Speaker 4: Let's start with Verizon. What happened here with subscribers.
Speaker 3: Yeah, we have Verizon Communications reporting a larger than expected
Speaker 3: decline in mobile phone subscribers in the first quarter. And
Speaker 3: what the company said is that this is a result
Speaker 3: of very heavy competition. As we know, this space is
Speaker 3: highly competitive, but also less spending by government agencies, and
Speaker 3: so we have shares sliding. I think this is interesting
Speaker 3: because we have sort of the reverberations from the Trump
Speaker 3: administration moving to slash thousands of jobs as we know
Speaker 3: since the president took office, and so now you're actually
Speaker 3: seeing that coming to fruition for one of the companies.
Speaker 2: That's interesting. I wander that competition too. It's just there's
Speaker 2: only some many cell phones one will have. And let's
Speaker 2: get to the main event. Let's be honest, it's Tesla.
Speaker 2: After the closing bill, I was just reading a headline
Speaker 2: that there were some governors that send a board to
Speaker 2: a letter to the board started talking about Musk's role
Speaker 2: in the government, like are we expecting fireworks today?
Speaker 3: Well, this, as you said, is the company that everybody's watching.
Speaker 3: We talked about it yesterday as well, after one of
Speaker 3: its very prominent analysts said the company's facing a code
Speaker 3: read moment. And we have Tesla reporting earnings later today,
Speaker 3: and what people are looking for is for Elon Musk
Speaker 3: to actually inject some excitement potentially on today's earnings call.
Speaker 3: Given that we have the drop off in sales and
Speaker 3: obviously we have a drop off in its stock price.
Speaker 3: The year is off to a pretty bad start given
Speaker 3: Musk's political entanglements.
Speaker 4: Tesla sales have fallen to.
Speaker 3: A nearly three year low in the first three months,
Speaker 3: and so what a lot of analysts and a lot
Speaker 3: of investors are looking for is potentially for Musk to
Speaker 3: actually inject some of that excitement on today's call. I
Speaker 3: know we spoke yesterday about whether or not he's going
Speaker 3: to be part of the call. He will be on
Speaker 3: the caller, he's expected to be on the call. He
Speaker 3: has actually only missed one earnings call in his time as.
Speaker 2: CEO, and I should point out Bilb was Treasurers of
Speaker 2: a US States and the letter to the board.
Speaker 4: But they're dressing concerns, so it holds. It does.
Speaker 5: And I think you know, if you think about Tesla,
Speaker 5: the stock forever has been tied to Elon Musk, it's
Speaker 5: Elon Musk is Tesla, Tesla is Elon Musk. Talk about
Speaker 5: key Man Risk.
Speaker 4: Key Executive Ricks Risk.
Speaker 5: You could argue that's the greatest company out there as
Speaker 5: an example. So Dan ives at what Bush Securities again
Speaker 5: yesterday calling out again for mister muskif put his focus
Speaker 5: back on the company Kimberly Clark. What did they have
Speaker 5: to say today?
Speaker 3: Yeah, diaper maker Kimberly Clark is cutting its profit out
Speaker 3: look and this is due to tariff costs. So we
Speaker 3: have the company lowering profit expectations for the year and
Speaker 3: they're citing uncertainty arising from the impact on the global
Speaker 3: trade war on its costs. So we have the chief
Speaker 3: executive officer saying the current environment will now mean greater
Speaker 3: costs across our global supply chain versus our expectations at the.
Speaker 4: Beginning of the year. So just goes to show you
Speaker 4: how quickly things can change, and change in a matter
Speaker 4: a matter of just a couple of months.
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