WEBVTT - Applied Materials Warning; TSMC Jumps on Huawei Report; Rumble Rallies

0:00:02.520 --> 0:00:08.720
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

0:00:08.720 --> 0:00:12.560
<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

0:00:12.600 --> 0:00:15.880
<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data.

0:00:16.680 --> 0:00:18.520
<v Speaker 1>Let's take a look at some stocks on the move today.

0:00:18.520 --> 0:00:21.840
<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis on a

0:00:21.920 --> 0:00:24.919
<v Speaker 1>day when stocks won't be moving off the back of

0:00:24.960 --> 0:00:27.760
<v Speaker 1>an official jobs report, but we do have a lot

0:00:27.800 --> 0:00:32.440
<v Speaker 1>to talk about in the micro space, including advanced I'm sorry,

0:00:32.479 --> 0:00:35.720
<v Speaker 1>Applied Materials taking it on the chin this morning, Dan,

0:00:35.760 --> 0:00:36.600
<v Speaker 1>Good morning.

0:00:37.000 --> 0:00:37.640
<v Speaker 3>Good morning.

0:00:37.720 --> 0:00:38.440
<v Speaker 2>Yeah, that's right.

0:00:38.600 --> 0:00:40.040
<v Speaker 3>You know, today is a good day to let the

0:00:40.080 --> 0:00:43.880
<v Speaker 3>single name shine without that jobs report. But Applied Materials

0:00:44.280 --> 0:00:47.800
<v Speaker 3>down three percent in the pre market. It's a semiconductor

0:00:47.840 --> 0:00:50.199
<v Speaker 3>equipment maker, and it's announced that it's going to take

0:00:50.240 --> 0:00:52.840
<v Speaker 3>a six hundred million dollars hit to revenue. That's due

0:00:52.880 --> 0:00:56.920
<v Speaker 3>to new US government restrictions. The company's updated guidance comes

0:00:56.960 --> 0:01:00.480
<v Speaker 3>after the Trump administration expanded measures to prevent sanction companies

0:01:00.480 --> 0:01:03.960
<v Speaker 3>from receiving restricted goods. Applied Materials sees part of its

0:01:04.000 --> 0:01:07.400
<v Speaker 3>business getting impacted by those new rules, So an analyst

0:01:07.400 --> 0:01:09.840
<v Speaker 3>from Bernstein notes that this is not the only company

0:01:09.840 --> 0:01:13.240
<v Speaker 3>that will probably see see these hits to revenue. The

0:01:13.280 --> 0:01:15.440
<v Speaker 3>street is just waiting for other companies to come out

0:01:15.480 --> 0:01:18.280
<v Speaker 3>and project how much this may impact their business. And

0:01:18.319 --> 0:01:20.680
<v Speaker 3>despite pulling back in the early hours, it's still in

0:01:20.720 --> 0:01:23.319
<v Speaker 3>line with a broader chip space so far this year.

0:01:23.560 --> 0:01:26.959
<v Speaker 1>And we got some news this morning that affects shares

0:01:27.000 --> 0:01:30.200
<v Speaker 1>of Taiwan's semiconductor that are traded in the US, A

0:01:30.240 --> 0:01:32.319
<v Speaker 1>pretty big headline around Huawei.

0:01:32.760 --> 0:01:35.920
<v Speaker 3>Yeah, so this is the restrictions I just mentioned. Part

0:01:35.959 --> 0:01:38.080
<v Speaker 3>of that is to target Huawei, which is on a

0:01:38.200 --> 0:01:42.839
<v Speaker 3>restricted company list. The Trump administration is trying to limit

0:01:42.880 --> 0:01:46.360
<v Speaker 3>the access that some Chinese companies have to AI chips

0:01:46.360 --> 0:01:50.240
<v Speaker 3>and high tech high check materials that the likes of

0:01:50.280 --> 0:01:54.600
<v Speaker 3>TSMC makes. So we got a report from tech Insights

0:01:54.640 --> 0:01:58.960
<v Speaker 3>that discovered dies from TSMC were used to produce top

0:01:59.000 --> 0:02:03.320
<v Speaker 3>AI chips at Huawei. The Huawei was also found to

0:02:03.360 --> 0:02:06.680
<v Speaker 3>have used components from Samsung and sk Heinex. All the

0:02:06.720 --> 0:02:09.240
<v Speaker 3>companies whose components were found used say that they do

0:02:09.360 --> 0:02:12.760
<v Speaker 3>comply with US export regulations. It's not clear yet how

0:02:12.840 --> 0:02:15.680
<v Speaker 3>Huawei obtained the technology. In the past, it's used in

0:02:15.680 --> 0:02:19.760
<v Speaker 3>intermediate company to funnel restricted goods and just worth it

0:02:19.800 --> 0:02:22.799
<v Speaker 3>to know. Huawei has not responded to comment. They are

0:02:22.919 --> 0:02:26.320
<v Speaker 3>on a week long holiday in China. That said, TSMC

0:02:26.440 --> 0:02:29.480
<v Speaker 3>still powering ahead in the pre market. It's up about

0:02:29.520 --> 0:02:32.519
<v Speaker 3>two percent and hovering near all time highs.

0:02:32.280 --> 0:02:35.639
<v Speaker 1>And the biggest top side mover in the pre market

0:02:35.639 --> 0:02:37.240
<v Speaker 1>this morning. I get. I guess we could call this

0:02:37.280 --> 0:02:41.240
<v Speaker 1>one in the tech space. What is going on with Rumble?

0:02:41.360 --> 0:02:43.320
<v Speaker 1>It is catching a huge bed this morning.

0:02:43.960 --> 0:02:46.080
<v Speaker 3>Yeah, I mean, it's definitely more in the tech space

0:02:46.120 --> 0:02:49.480
<v Speaker 3>this morning because it's starting to integrate AI into its

0:02:49.880 --> 0:02:53.720
<v Speaker 3>video sharing platform. It's partnering with an AI company called

0:02:53.760 --> 0:02:57.200
<v Speaker 3>Perplexity to integrate artificial technology and that's just basically going

0:02:57.240 --> 0:03:00.280
<v Speaker 3>to help suggest videos to users while they're on this site.

0:03:00.800 --> 0:03:03.760
<v Speaker 3>The collaboration will result in a new subscription model combining

0:03:03.800 --> 0:03:07.440
<v Speaker 3>both the pro versions. While Perplexities tools will be integrated.

0:03:07.840 --> 0:03:11.160
<v Speaker 3>Perplexities new AI browser called Comment will be promoted across

0:03:11.240 --> 0:03:14.800
<v Speaker 3>Rumbles network. That's how the partnership is structured. That's lifting

0:03:14.840 --> 0:03:19.240
<v Speaker 3>shares thirteen percent in the pre market. This is a

0:03:19.280 --> 0:03:21.640
<v Speaker 3>stock that I will say has gone a massive lift

0:03:21.760 --> 0:03:25.840
<v Speaker 3>earlier from the President Trump's election that was seen as

0:03:25.840 --> 0:03:28.760
<v Speaker 3>a positive positive catalyst as this platform appeals to law

0:03:28.760 --> 0:03:31.560
<v Speaker 3>of far right users. The shares have pulled back. They're

0:03:31.560 --> 0:03:34.520
<v Speaker 3>still nearly fifty percent off from all time highs, but

0:03:34.720 --> 0:03:36.840
<v Speaker 3>this morning is helping out the balls a little bit.

0:03:38.600 --> 0:03:42.640
<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

0:03:42.720 --> 0:03:45.280
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:45.360 --> 0:03:48.440
<v Speaker 2>making news on Wall Street and for the latest market

0:03:48.480 --> 0:03:52.960
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:53.040 --> 0:03:56.560
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:56.600 --> 0:03:58.120
<v Speaker 2>the Bloomberg Business app.