1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,440 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,480 --> 00:00:21,840 Speaker 1: I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a 6 00:00:21,880 --> 00:00:25,479 Speaker 1: morning where we're asking what stocks aren't moving this morning? Valerie, 7 00:00:25,600 --> 00:00:29,720 Speaker 1: dare we look at what Nvidia is doing after yesterday's 8 00:00:29,840 --> 00:00:30,880 Speaker 1: wild ride? 9 00:00:30,920 --> 00:00:33,479 Speaker 3: Good morning, Good morning, Nathan. You know, I think most 10 00:00:33,520 --> 00:00:35,720 Speaker 3: of the market's attention is on the price of Nvidia 11 00:00:35,800 --> 00:00:38,440 Speaker 3: and where Bitcoin is trading this morning. Both are in 12 00:00:38,640 --> 00:00:41,600 Speaker 3: the red. Let's start with Nvidia down near two percent 13 00:00:41,760 --> 00:00:43,760 Speaker 3: in the pre market, so that's the bad news. The 14 00:00:43,760 --> 00:00:46,319 Speaker 3: good news, I guess, is that it's rebounded from an 15 00:00:46,320 --> 00:00:49,640 Speaker 3: earlier loss of being down over three percent earlier this 16 00:00:49,680 --> 00:00:51,800 Speaker 3: morning in the pre market. So it's looking like we 17 00:00:51,840 --> 00:00:54,240 Speaker 3: are maybe stabilizing, but perhaps I'm just looking at the 18 00:00:54,280 --> 00:00:57,360 Speaker 3: rosy side of the coin. Ky NASDAK is set for 19 00:00:57,560 --> 00:01:00,640 Speaker 3: three back to back weeks of losses the week since 20 00:01:00,680 --> 00:01:03,240 Speaker 3: April for the broader Nasdaq one hundred, we're down over 21 00:01:03,320 --> 00:01:05,360 Speaker 3: four percent for Nasdaq features on the week. 22 00:01:05,360 --> 00:01:06,759 Speaker 2: A lot of that obviously. 23 00:01:06,319 --> 00:01:10,319 Speaker 3: Has been the weakness that Nvidia has driven after their results. 24 00:01:10,560 --> 00:01:12,400 Speaker 3: I also want to check on some of these crypto 25 00:01:12,480 --> 00:01:15,440 Speaker 3: linked stocks as we see Bitcoin down near six percent 26 00:01:15,520 --> 00:01:18,240 Speaker 3: so far this morning. It was another key driver of 27 00:01:18,319 --> 00:01:21,640 Speaker 3: the market Mayhem yesterday. We're seeing likes of Coinbase down 28 00:01:21,680 --> 00:01:25,000 Speaker 3: two and a half percent, micro Strategy down four percent. 29 00:01:25,080 --> 00:01:27,640 Speaker 3: It is now the worst month for Crypto Nathan in 30 00:01:27,840 --> 00:01:31,240 Speaker 3: three years, down twenty five percent. In the month of 31 00:01:31,280 --> 00:01:34,400 Speaker 3: November down thirty five percent from all time highs just 32 00:01:34,440 --> 00:01:36,880 Speaker 3: back in October, just seven weeks ago, when at top 33 00:01:36,920 --> 00:01:39,360 Speaker 3: one hundred and twenty five k now trading at eighty 34 00:01:39,360 --> 00:01:39,800 Speaker 3: two thousand. 35 00:01:40,000 --> 00:01:42,880 Speaker 1: Yeah, a lot of superlatives coming out of just this week. 36 00:01:43,240 --> 00:01:46,319 Speaker 1: We do have some stocks in the green this morning, 37 00:01:46,319 --> 00:01:50,680 Speaker 1: though after earnings. Let's start with into it. Even though 38 00:01:50,680 --> 00:01:54,040 Speaker 1: it's not quite tech season yet, it's. 39 00:01:53,840 --> 00:01:56,240 Speaker 3: Not tax season yet, but it could take you less 40 00:01:56,240 --> 00:01:58,320 Speaker 3: time due to their AI tools if you're using turbo 41 00:01:58,360 --> 00:02:00,920 Speaker 3: attacks or quick books. So that is that is I 42 00:02:00,920 --> 00:02:04,200 Speaker 3: guess the positive that AI monetization is showing up in 43 00:02:04,240 --> 00:02:06,880 Speaker 3: some of these pockets of these software companies. Into it 44 00:02:07,000 --> 00:02:10,560 Speaker 3: is the financial software company owns TurboTax and QuickBooks saw 45 00:02:10,639 --> 00:02:13,560 Speaker 3: their sales jump on the back of these new AI tools. 46 00:02:13,560 --> 00:02:15,920 Speaker 3: The shares are up three and a half percent in 47 00:02:16,000 --> 00:02:19,240 Speaker 3: pre market trade, the CEO citing that these early bets 48 00:02:19,280 --> 00:02:22,360 Speaker 3: into AI are paying off for them, and they are 49 00:02:22,480 --> 00:02:26,040 Speaker 3: especially seeing a tickup of use when it comes to 50 00:02:26,400 --> 00:02:30,880 Speaker 3: mid sized businesses using their AI tools. Managements touting further 51 00:02:31,000 --> 00:02:34,240 Speaker 3: plays to expand its use and we heard earlier this 52 00:02:34,280 --> 00:02:37,240 Speaker 3: week that they are now integrating chat GPT into their 53 00:02:37,240 --> 00:02:39,640 Speaker 3: Turbo tax software. So it's good news for into It 54 00:02:40,160 --> 00:02:42,359 Speaker 3: when it comes to integrating these AI tools and making 55 00:02:42,400 --> 00:02:43,320 Speaker 3: it pay off for them. 56 00:02:43,440 --> 00:02:45,880 Speaker 1: And it looks like good news as well for GAP 57 00:02:46,160 --> 00:02:49,280 Speaker 1: as the retail earnings continue. Is there an AI story 58 00:02:49,320 --> 00:02:50,680 Speaker 1: there or or something else? 59 00:02:50,880 --> 00:02:53,240 Speaker 3: Sadly no AI story here, but it does have a 60 00:02:53,280 --> 00:02:56,880 Speaker 3: lot to do with their celebrity tie ups and the 61 00:02:56,880 --> 00:03:00,000 Speaker 3: fact that their old Navy brand is doing very well, 62 00:03:00,120 --> 00:03:03,840 Speaker 3: generating nearly sixty percent of total revenue in the previous quarter. 63 00:03:03,960 --> 00:03:07,359 Speaker 3: So GAP shares are up four percent. They raise their 64 00:03:07,400 --> 00:03:10,919 Speaker 3: sales guidance. They now see net sales growing above their 65 00:03:10,919 --> 00:03:15,239 Speaker 3: recent projected range, and the CEO is touting gaps ability 66 00:03:15,720 --> 00:03:19,360 Speaker 3: essentially to attract the higher side of this K shaped economy, 67 00:03:19,400 --> 00:03:21,640 Speaker 3: the higher end consumers. Because it's got a variety of 68 00:03:21,680 --> 00:03:24,639 Speaker 3: brands and price points, it's really helping it insulate its 69 00:03:24,639 --> 00:03:28,280 Speaker 3: performance in this tougher consumer environment. So gap higher by 70 00:03:28,280 --> 00:03:28,799 Speaker 3: four percent. 71 00:03:29,080 --> 00:03:32,079 Speaker 1: And finally, Valerie, how is Warner Brothers Discovery doing now 72 00:03:32,080 --> 00:03:35,080 Speaker 1: that it seems like almost everybody is making bids for it? 73 00:03:35,600 --> 00:03:39,000 Speaker 3: Three bids submitted, Netflix, Paramount and Comcasts all made bids 74 00:03:39,000 --> 00:03:42,040 Speaker 3: for Warner Brothers ahead of the deadline yesterday. Shares are higher, 75 00:03:42,120 --> 00:03:44,400 Speaker 3: up by one percent on the back of this news. 76 00:03:44,400 --> 00:03:48,520 Speaker 3: Now additional rounds of bidding are expected, so competition for 77 00:03:48,560 --> 00:03:51,880 Speaker 3: this company could be something that drives that final buyout 78 00:03:51,920 --> 00:03:54,600 Speaker 3: price ever higher. But we're training at twenty three dollars 79 00:03:54,600 --> 00:03:58,200 Speaker 3: a share up one percent on the back of this news. 80 00:03:58,600 --> 00:04:02,640 Speaker 2: This stock movers report from Bloomberg Radio. Check back with 81 00:04:02,720 --> 00:04:05,280 Speaker 2: us throughout the day for the latest roundup of companies 82 00:04:05,360 --> 00:04:08,480 Speaker 2: making news on Wall Street and for the latest market 83 00:04:08,480 --> 00:04:12,960 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 84 00:04:13,040 --> 00:04:16,560 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 85 00:04:16,640 --> 00:04:18,080 Speaker 2: the Bloomberg Business app.