WEBVTT - Nvidia Declines; Intuit Rises; Gap Rallies

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a

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<v Speaker 1>morning where we're asking what stocks aren't moving this morning? Valerie,

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<v Speaker 1>dare we look at what Nvidia is doing after yesterday's

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<v Speaker 1>wild ride?

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<v Speaker 3>Good morning, Good morning, Nathan. You know, I think most

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<v Speaker 3>of the market's attention is on the price of Nvidia

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<v Speaker 3>and where Bitcoin is trading this morning. Both are in

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<v Speaker 3>the red. Let's start with Nvidia down near two percent

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<v Speaker 3>in the pre market, so that's the bad news. The

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<v Speaker 3>good news, I guess, is that it's rebounded from an

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<v Speaker 3>earlier loss of being down over three percent earlier this

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<v Speaker 3>morning in the pre market. So it's looking like we

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<v Speaker 3>are maybe stabilizing, but perhaps I'm just looking at the

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<v Speaker 3>rosy side of the coin. Ky NASDAK is set for

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<v Speaker 3>three back to back weeks of losses the week since

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<v Speaker 3>April for the broader Nasdaq one hundred, we're down over

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<v Speaker 3>four percent for Nasdaq features on the week.

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<v Speaker 2>A lot of that obviously.

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<v Speaker 3>Has been the weakness that Nvidia has driven after their results.

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<v Speaker 3>I also want to check on some of these crypto

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<v Speaker 3>linked stocks as we see Bitcoin down near six percent

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<v Speaker 3>so far this morning. It was another key driver of

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<v Speaker 3>the market Mayhem yesterday. We're seeing likes of Coinbase down

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<v Speaker 3>two and a half percent, micro Strategy down four percent.

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<v Speaker 3>It is now the worst month for Crypto Nathan in

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<v Speaker 3>three years, down twenty five percent. In the month of

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<v Speaker 3>November down thirty five percent from all time highs just

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<v Speaker 3>back in October, just seven weeks ago, when at top

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<v Speaker 3>one hundred and twenty five k now trading at eighty

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<v Speaker 3>two thousand.

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<v Speaker 1>Yeah, a lot of superlatives coming out of just this week.

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<v Speaker 1>We do have some stocks in the green this morning,

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<v Speaker 1>though after earnings. Let's start with into it. Even though

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<v Speaker 1>it's not quite tech season yet, it's.

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<v Speaker 3>Not tax season yet, but it could take you less

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<v Speaker 3>time due to their AI tools if you're using turbo

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<v Speaker 3>attacks or quick books. So that is that is I

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<v Speaker 3>guess the positive that AI monetization is showing up in

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<v Speaker 3>some of these pockets of these software companies. Into it

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<v Speaker 3>is the financial software company owns TurboTax and QuickBooks saw

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<v Speaker 3>their sales jump on the back of these new AI tools.

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<v Speaker 3>The shares are up three and a half percent in

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<v Speaker 3>pre market trade, the CEO citing that these early bets

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<v Speaker 3>into AI are paying off for them, and they are

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<v Speaker 3>especially seeing a tickup of use when it comes to

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<v Speaker 3>mid sized businesses using their AI tools. Managements touting further

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<v Speaker 3>plays to expand its use and we heard earlier this

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<v Speaker 3>week that they are now integrating chat GPT into their

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<v Speaker 3>Turbo tax software. So it's good news for into It

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<v Speaker 3>when it comes to integrating these AI tools and making

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<v Speaker 3>it pay off for them.

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<v Speaker 1>And it looks like good news as well for GAP

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<v Speaker 1>as the retail earnings continue. Is there an AI story

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<v Speaker 1>there or or something else?

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<v Speaker 3>Sadly no AI story here, but it does have a

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<v Speaker 3>lot to do with their celebrity tie ups and the

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<v Speaker 3>fact that their old Navy brand is doing very well,

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<v Speaker 3>generating nearly sixty percent of total revenue in the previous quarter.

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<v Speaker 3>So GAP shares are up four percent. They raise their

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<v Speaker 3>sales guidance. They now see net sales growing above their

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<v Speaker 3>recent projected range, and the CEO is touting gaps ability

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<v Speaker 3>essentially to attract the higher side of this K shaped economy,

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<v Speaker 3>the higher end consumers. Because it's got a variety of

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<v Speaker 3>brands and price points, it's really helping it insulate its

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<v Speaker 3>performance in this tougher consumer environment. So gap higher by

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<v Speaker 3>four percent.

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<v Speaker 1>And finally, Valerie, how is Warner Brothers Discovery doing now

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<v Speaker 1>that it seems like almost everybody is making bids for it?

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<v Speaker 3>Three bids submitted, Netflix, Paramount and Comcasts all made bids

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<v Speaker 3>for Warner Brothers ahead of the deadline yesterday. Shares are higher,

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<v Speaker 3>up by one percent on the back of this news.

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<v Speaker 3>Now additional rounds of bidding are expected, so competition for

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<v Speaker 3>this company could be something that drives that final buyout

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<v Speaker 3>price ever higher. But we're training at twenty three dollars

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<v Speaker 3>a share up one percent on the back of this news.

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<v Speaker 2>This stock movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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