1 00:00:02,520 --> 00:00:08,800 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 00:00:17,640 --> 00:00:19,520 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:19,520 --> 00:00:23,319 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Tytel, keeping an 6 00:00:23,360 --> 00:00:25,960 Speaker 3: eye on stocks that could be affected by the debate 7 00:00:26,000 --> 00:00:29,640 Speaker 3: happening in Washington, DC over the tax and Spending cut bill. 8 00:00:29,720 --> 00:00:32,440 Speaker 3: There's been a lot of talk of rolling back some 9 00:00:32,560 --> 00:00:36,640 Speaker 3: clean energy tax credits, and that's affecting some stocks in 10 00:00:36,640 --> 00:00:37,480 Speaker 3: the space this morning. 11 00:00:37,479 --> 00:00:39,200 Speaker 2: Good morning, Valve, Hey, good morning Nathan. 12 00:00:39,240 --> 00:00:41,680 Speaker 1: You on the backfoot. We do have a particularly wind 13 00:00:41,800 --> 00:00:44,839 Speaker 1: in solar stocks on the move to the downside this morning, 14 00:00:45,200 --> 00:00:50,000 Speaker 1: aes N Phase and next Era Energy. All three of 15 00:00:50,040 --> 00:00:53,000 Speaker 1: those are wind and solar green energy stocks down around 16 00:00:53,000 --> 00:00:55,400 Speaker 1: three percent in the pre market. This comes as the 17 00:00:55,520 --> 00:00:59,360 Speaker 1: latest version of the US Senate's spending bill proposes phasing 18 00:00:59,400 --> 00:01:02,720 Speaker 1: out tax credits for wind and sellar projects more aggressively. 19 00:01:02,760 --> 00:01:06,200 Speaker 1: The new tweak would require projects to be completed by 20 00:01:06,280 --> 00:01:09,200 Speaker 1: the end of twenty twenty seven, while the initial version 21 00:01:09,280 --> 00:01:12,640 Speaker 1: simply required projects to start construction by the end of 22 00:01:12,680 --> 00:01:15,000 Speaker 1: this year to get the full incentives. Now it is 23 00:01:15,040 --> 00:01:18,640 Speaker 1: having an impact on US clean energy stocks, also having 24 00:01:18,640 --> 00:01:21,479 Speaker 1: an impact in Europe. The biggest loser on the stock 25 00:01:21,520 --> 00:01:25,240 Speaker 1: six hundred today was vestas Win in Copenhagen, down round 26 00:01:25,319 --> 00:01:27,119 Speaker 1: five percent off the back of this as well. 27 00:01:27,400 --> 00:01:29,920 Speaker 3: And we've also heard Elon Musk sort of coming out 28 00:01:29,959 --> 00:01:33,160 Speaker 3: against this potential rollback not just to the clean energy 29 00:01:33,160 --> 00:01:37,080 Speaker 3: credits but ev credits as well. Is that having an 30 00:01:37,120 --> 00:01:39,080 Speaker 3: impact on his company this morning? 31 00:01:39,360 --> 00:01:41,880 Speaker 1: Tesla is down one point two percent this morning. It's 32 00:01:41,880 --> 00:01:44,080 Speaker 1: the only mag seven stock to be in the red 33 00:01:44,160 --> 00:01:46,880 Speaker 1: so far in the pre market. This does come as 34 00:01:46,880 --> 00:01:49,720 Speaker 1: the Senate tax bill would bring a quicker end to 35 00:01:49,800 --> 00:01:53,040 Speaker 1: the consumer tax credit of seven five hundred dollars for 36 00:01:53,120 --> 00:01:57,720 Speaker 1: electric vehicles. Would terminate the tax credit after September thirtieth. 37 00:01:57,800 --> 00:02:00,840 Speaker 1: That's only three more months left for the consumer tax 38 00:02:00,880 --> 00:02:03,800 Speaker 1: credit to be in play. The Senate bill was panned 39 00:02:03,840 --> 00:02:06,760 Speaker 1: by Musk as being incredibly destructive to the US. He 40 00:02:06,840 --> 00:02:09,200 Speaker 1: also said it would destroy millions of jobs in the 41 00:02:09,280 --> 00:02:12,519 Speaker 1: US and give handouts to industries of the past while 42 00:02:12,560 --> 00:02:16,160 Speaker 1: severely damaging industries of the future. So it's Tesla to 43 00:02:16,200 --> 00:02:18,440 Speaker 1: the downside this morning, down one point two percent, the 44 00:02:18,480 --> 00:02:20,160 Speaker 1: only mag seven stock in the red. 45 00:02:20,320 --> 00:02:23,239 Speaker 3: Now moving to the upside. It looks like well away 46 00:02:23,320 --> 00:02:26,160 Speaker 3: from the EV and clean energy space. One of the 47 00:02:26,160 --> 00:02:28,760 Speaker 3: biggest entertainment companies in the world. 48 00:02:28,639 --> 00:02:32,120 Speaker 1: Yeah, Disney, is rising around two percent so far. This morning. 49 00:02:32,120 --> 00:02:35,680 Speaker 1: They were upgraded to a buy from a hold at Jeffreys, 50 00:02:35,680 --> 00:02:37,720 Speaker 1: with a new price target of one hundred and forty 51 00:02:37,720 --> 00:02:40,400 Speaker 1: four dollars a share and plying around a twenty percent 52 00:02:40,520 --> 00:02:44,200 Speaker 1: rise from Friday's close. The broker now sees limited risk 53 00:02:44,280 --> 00:02:47,360 Speaker 1: for a slowdown for Disney's key parks division in the 54 00:02:47,360 --> 00:02:51,360 Speaker 1: second half of twenty five. Also sees continued margin expansion 55 00:02:51,400 --> 00:02:54,360 Speaker 1: for its direct to consumer offering, so that upgrade is 56 00:02:54,400 --> 00:02:57,120 Speaker 1: giving Disney a boost, up one point nine percent so 57 00:02:57,200 --> 00:02:58,200 Speaker 1: far in pre market trade. 58 00:02:58,280 --> 00:03:02,320 Speaker 3: J even bigger jumps for to names in the tech space. 59 00:03:03,320 --> 00:03:05,240 Speaker 1: This is all on the back of a lawsuit, but 60 00:03:05,240 --> 00:03:10,000 Speaker 1: we're seeing Juniper and HP Enterprises rise in the pre market. 61 00:03:10,080 --> 00:03:12,960 Speaker 1: Juniper's up around nine percent. HP is up around seven 62 00:03:13,000 --> 00:03:16,520 Speaker 1: This comes as the DOJ settled a lawsuit to clear 63 00:03:16,560 --> 00:03:19,360 Speaker 1: a key hurdle for this merger that's been more in 64 00:03:19,440 --> 00:03:21,919 Speaker 1: a year in the works. The Justice Department settled a 65 00:03:22,000 --> 00:03:26,880 Speaker 1: lawsuit that challenged HP's thirteen billion takeover of Juniper Networks, 66 00:03:27,080 --> 00:03:31,119 Speaker 1: where previously argued it cornered the market for the networking equipment. 67 00:03:31,200 --> 00:03:34,040 Speaker 1: Now the settlement comes less than two weeks before the 68 00:03:34,120 --> 00:03:35,960 Speaker 1: trial was set to start, so I think this does 69 00:03:36,280 --> 00:03:40,200 Speaker 1: surprise the market in terms of the upside for this 70 00:03:40,600 --> 00:03:45,240 Speaker 1: transaction to close. The settlement does require the combined company 71 00:03:45,280 --> 00:03:49,560 Speaker 1: to divest HP's networking business and license the sort code 72 00:03:50,080 --> 00:03:54,200 Speaker 1: for AI software used in Juniper's products, so that settlement 73 00:03:54,560 --> 00:03:56,960 Speaker 1: will clear the way. It seems like for the transaction 74 00:03:57,080 --> 00:03:59,360 Speaker 1: to close sometime this year, and both those stocks are 75 00:03:59,400 --> 00:04:00,120 Speaker 1: rising on the back. 76 00:04:01,240 --> 00:04:05,600 Speaker 2: The Stockmovers podcast from Bloomberg Radio. 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