Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in 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 Valerie Titel on a
Speaker 1: morning where we're asking what stocks aren't moving this morning? Valerie,
Speaker 1: dare we look at what Nvidia is doing after yesterday's
Speaker 1: wild ride?
Speaker 3: Good morning, Good morning, Nathan. You know, I think most
Speaker 3: of the market's attention is on the price of Nvidia
Speaker 3: and where Bitcoin is trading this morning. Both are in
Speaker 3: the red. Let's start with Nvidia down near two percent
Speaker 3: in the pre market, so that's the bad news. The
Speaker 3: good news, I guess, is that it's rebounded from an
Speaker 3: earlier loss of being down over three percent earlier this
Speaker 3: morning in the pre market. So it's looking like we
Speaker 3: are maybe stabilizing, but perhaps I'm just looking at the
Speaker 3: rosy side of the coin. Ky NASDAK is set for
Speaker 3: three back to back weeks of losses the week since
Speaker 3: April for the broader Nasdaq one hundred, we're down over
Speaker 3: four percent for Nasdaq features on the week.
Speaker 2: A lot of that obviously.
Speaker 3: Has been the weakness that Nvidia has driven after their results.
Speaker 3: I also want to check on some of these crypto
Speaker 3: linked stocks as we see Bitcoin down near six percent
Speaker 3: so far this morning. It was another key driver of
Speaker 3: the market Mayhem yesterday. We're seeing likes of Coinbase down
Speaker 3: two and a half percent, micro Strategy down four percent.
Speaker 3: It is now the worst month for Crypto Nathan in
Speaker 3: three years, down twenty five percent. In the month of
Speaker 3: November down thirty five percent from all time highs just
Speaker 3: back in October, just seven weeks ago, when at top
Speaker 3: one hundred and twenty five k now trading at eighty
Speaker 3: two thousand.
Speaker 1: Yeah, a lot of superlatives coming out of just this week.
Speaker 1: We do have some stocks in the green this morning,
Speaker 1: though after earnings. Let's start with into it. Even though
Speaker 1: it's not quite tech season yet, it's.
Speaker 3: Not tax season yet, but it could take you less
Speaker 3: time due to their AI tools if you're using turbo
Speaker 3: attacks or quick books. So that is that is I
Speaker 3: guess the positive that AI monetization is showing up in
Speaker 3: some of these pockets of these software companies. Into it
Speaker 3: is the financial software company owns TurboTax and QuickBooks saw
Speaker 3: their sales jump on the back of these new AI tools.
Speaker 3: The shares are up three and a half percent in
Speaker 3: pre market trade, the CEO citing that these early bets
Speaker 3: into AI are paying off for them, and they are
Speaker 3: especially seeing a tickup of use when it comes to
Speaker 3: mid sized businesses using their AI tools. Managements touting further
Speaker 3: plays to expand its use and we heard earlier this
Speaker 3: week that they are now integrating chat GPT into their
Speaker 3: Turbo tax software. So it's good news for into It
Speaker 3: when it comes to integrating these AI tools and making
Speaker 3: it pay off for them.
Speaker 1: And it looks like good news as well for GAP
Speaker 1: as the retail earnings continue. Is there an AI story
Speaker 1: there or or something else?
Speaker 3: Sadly no AI story here, but it does have a
Speaker 3: lot to do with their celebrity tie ups and the
Speaker 3: fact that their old Navy brand is doing very well,
Speaker 3: generating nearly sixty percent of total revenue in the previous quarter.
Speaker 3: So GAP shares are up four percent. They raise their
Speaker 3: sales guidance. They now see net sales growing above their
Speaker 3: recent projected range, and the CEO is touting gaps ability
Speaker 3: essentially to attract the higher side of this K shaped economy,
Speaker 3: the higher end consumers. Because it's got a variety of
Speaker 3: brands and price points, it's really helping it insulate its
Speaker 3: performance in this tougher consumer environment. So gap higher by
Speaker 3: four percent.
Speaker 1: And finally, Valerie, how is Warner Brothers Discovery doing now
Speaker 1: that it seems like almost everybody is making bids for it?
Speaker 3: Three bids submitted, Netflix, Paramount and Comcasts all made bids
Speaker 3: for Warner Brothers ahead of the deadline yesterday. Shares are higher,
Speaker 3: up by one percent on the back of this news.
Speaker 3: Now additional rounds of bidding are expected, so competition for
Speaker 3: this company could be something that drives that final buyout
Speaker 3: price ever higher. But we're training at twenty three dollars
Speaker 3: a share up one percent on the back of this news.
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
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