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 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis on a
Speaker 1: day when stocks won't be moving off the back of
Speaker 1: an official jobs report, but we do have a lot
Speaker 1: to talk about in the micro space, including advanced I'm sorry,
Speaker 1: Applied Materials taking it on the chin this morning, Dan,
Speaker 1: Good morning.
Speaker 3: Good morning.
Speaker 2: Yeah, that's right.
Speaker 3: You know, today is a good day to let the
Speaker 3: single name shine without that jobs report. But Applied Materials
Speaker 3: down three percent in the pre market. It's a semiconductor
Speaker 3: equipment maker, and it's announced that it's going to take
Speaker 3: a six hundred million dollars hit to revenue. That's due
Speaker 3: to new US government restrictions. The company's updated guidance comes
Speaker 3: after the Trump administration expanded measures to prevent sanction companies
Speaker 3: from receiving restricted goods. Applied Materials sees part of its
Speaker 3: business getting impacted by those new rules, So an analyst
Speaker 3: from Bernstein notes that this is not the only company
Speaker 3: that will probably see see these hits to revenue. The
Speaker 3: street is just waiting for other companies to come out
Speaker 3: and project how much this may impact their business. And
Speaker 3: despite pulling back in the early hours, it's still in
Speaker 3: line with a broader chip space so far this year.
Speaker 1: And we got some news this morning that affects shares
Speaker 1: of Taiwan's semiconductor that are traded in the US, A
Speaker 1: pretty big headline around Huawei.
Speaker 3: Yeah, so this is the restrictions I just mentioned. Part
Speaker 3: of that is to target Huawei, which is on a
Speaker 3: restricted company list. The Trump administration is trying to limit
Speaker 3: the access that some Chinese companies have to AI chips
Speaker 3: and high tech high check materials that the likes of
Speaker 3: TSMC makes. So we got a report from tech Insights
Speaker 3: that discovered dies from TSMC were used to produce top
Speaker 3: AI chips at Huawei. The Huawei was also found to
Speaker 3: have used components from Samsung and sk Heinex. All the
Speaker 3: companies whose components were found used say that they do
Speaker 3: comply with US export regulations. It's not clear yet how
Speaker 3: Huawei obtained the technology. In the past, it's used in
Speaker 3: intermediate company to funnel restricted goods and just worth it
Speaker 3: to know. Huawei has not responded to comment. They are
Speaker 3: on a week long holiday in China. That said, TSMC
Speaker 3: still powering ahead in the pre market. It's up about
Speaker 3: two percent and hovering near all time highs.
Speaker 1: And the biggest top side mover in the pre market
Speaker 1: this morning. I get. I guess we could call this
Speaker 1: one in the tech space. What is going on with Rumble?
Speaker 1: It is catching a huge bed this morning.
Speaker 3: Yeah, I mean, it's definitely more in the tech space
Speaker 3: this morning because it's starting to integrate AI into its
Speaker 3: video sharing platform. It's partnering with an AI company called
Speaker 3: Perplexity to integrate artificial technology and that's just basically going
Speaker 3: to help suggest videos to users while they're on this site.
Speaker 3: The collaboration will result in a new subscription model combining
Speaker 3: both the pro versions. While Perplexities tools will be integrated.
Speaker 3: Perplexities new AI browser called Comment will be promoted across
Speaker 3: Rumbles network. That's how the partnership is structured. That's lifting
Speaker 3: shares thirteen percent in the pre market. This is a
Speaker 3: stock that I will say has gone a massive lift
Speaker 3: earlier from the President Trump's election that was seen as
Speaker 3: a positive positive catalyst as this platform appeals to law
Speaker 3: of far right users. The shares have pulled back. They're
Speaker 3: still nearly fifty percent off from all time highs, but
Speaker 3: this morning is helping out the balls a little bit.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.