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 Mover's Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,800 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,280 --> 00:00:19,960 Speaker 3: I'm Emli Grafeo along with Barry Htholtz. Let's take a 5 00:00:19,960 --> 00:00:22,200 Speaker 3: look at some stocks on the move today with Carmen 6 00:00:22,280 --> 00:00:26,360 Speaker 3: Reinikey equities reporter and a deputy team leader for US 7 00:00:26,400 --> 00:00:30,080 Speaker 3: Equities at Bloomberg News. Let's go to Pallenteer. That was 8 00:00:30,080 --> 00:00:34,559 Speaker 3: a story dominating yesterday's postmarket trade and today's trade. 9 00:00:34,720 --> 00:00:37,760 Speaker 4: Yeah, so, and it's also just it's unusual to see 10 00:00:37,760 --> 00:00:40,400 Speaker 4: a company beat and raise in its earnings and then 11 00:00:40,520 --> 00:00:44,320 Speaker 4: fall this much. So Palenteer, which is ticker PLTR, fell 12 00:00:44,520 --> 00:00:46,720 Speaker 4: nearly eight percent today, which is the worst one day 13 00:00:46,760 --> 00:00:51,240 Speaker 4: drop since August. So they were at or near record 14 00:00:51,320 --> 00:00:53,800 Speaker 4: high before earning. So maybe a little bit of buy 15 00:00:53,840 --> 00:00:56,520 Speaker 4: the rumors, sell the news. But there was also some 16 00:00:56,600 --> 00:00:59,160 Speaker 4: tension that sort of came around after the report. So 17 00:00:59,240 --> 00:01:03,360 Speaker 4: Michael Berry, a big short fame, disclosed some bearish wagers 18 00:01:03,360 --> 00:01:06,960 Speaker 4: on Palenteer and in video, so he bought Palenteer put 19 00:01:07,000 --> 00:01:11,360 Speaker 4: options seemingly, you know, a little bit of a barish 20 00:01:11,400 --> 00:01:14,000 Speaker 4: bet that could have been why the stock is moving. Also, 21 00:01:14,160 --> 00:01:16,920 Speaker 4: you know, Alex Karp's CEO and gave a lot of 22 00:01:17,000 --> 00:01:20,760 Speaker 4: very colorful comments on both the earnings call last name 23 00:01:20,840 --> 00:01:23,880 Speaker 4: that on CNBC again today, and you know, he has 24 00:01:23,920 --> 00:01:26,679 Speaker 4: a ton of retail following. People generally really like him. 25 00:01:26,720 --> 00:01:29,080 Speaker 4: But you never know, I mean maybe that that could 26 00:01:29,080 --> 00:01:31,800 Speaker 4: have also sort of added to some embarrassing. 27 00:01:31,560 --> 00:01:35,399 Speaker 1: And what about AMD that that's also did pretty good, 28 00:01:36,040 --> 00:01:39,400 Speaker 1: but we're seeing, you know, not a great response. 29 00:01:39,800 --> 00:01:42,240 Speaker 4: Well, it's kind of all over the place. So it was, 30 00:01:42,600 --> 00:01:44,399 Speaker 4: you know, it was up a little bit, it was 31 00:01:44,440 --> 00:01:47,600 Speaker 4: down as much as four percent. Now it's just slightly 32 00:01:47,640 --> 00:01:49,920 Speaker 4: below zero. It's you know, kind of trending down flat 33 00:01:49,920 --> 00:01:53,480 Speaker 4: towards yeah, flat. But this is also one that had 34 00:01:53,520 --> 00:01:55,880 Speaker 4: a really huge rally up into earnings today. It was 35 00:01:55,920 --> 00:01:58,480 Speaker 4: near a record high. It's really gotten this huge push 36 00:01:58,480 --> 00:02:01,040 Speaker 4: behind it as sort of the contender to Nvidia in 37 00:02:01,120 --> 00:02:04,480 Speaker 4: you know, the AI chip race. So you know, they 38 00:02:04,480 --> 00:02:06,960 Speaker 4: give a revenue forecast that maybe is sort of failing 39 00:02:06,960 --> 00:02:10,920 Speaker 4: to live up to very lofty expectations. Fourth quarter revenue 40 00:02:11,000 --> 00:02:15,000 Speaker 4: they said will be roughly nine point six billion. Analystid 41 00:02:15,120 --> 00:02:17,920 Speaker 4: estimated nine point two billion on average, but there was 42 00:02:18,240 --> 00:02:21,640 Speaker 4: some very high project projections that were nearly ten billion, 43 00:02:22,800 --> 00:02:25,880 Speaker 4: so well, you know it'll be we'll see what's you know, 44 00:02:26,000 --> 00:02:28,640 Speaker 4: going to keep happening there. I think the earnings calls 45 00:02:28,680 --> 00:02:30,840 Speaker 4: coming up, so that's something definitely I'll be listening to. 46 00:02:31,760 --> 00:02:34,600 Speaker 4: But we have a few other really interesting after hours movers. 47 00:02:34,600 --> 00:02:38,840 Speaker 4: So Arista Networks is down. Let me see where it 48 00:02:38,880 --> 00:02:41,919 Speaker 4: is now? Down a down eleven percent. So the company's 49 00:02:41,960 --> 00:02:45,560 Speaker 4: forecast for adjusted gross margin in the fourth quarter fell 50 00:02:45,639 --> 00:02:47,800 Speaker 4: short of the average analyst estimate. But that's really the 51 00:02:47,800 --> 00:02:50,000 Speaker 4: only negative thing I could see so far looking at 52 00:02:50,000 --> 00:02:51,520 Speaker 4: this report, So it's the one I'm going to keep 53 00:02:51,520 --> 00:02:53,639 Speaker 4: an eye on. The Other one that's just a big, 54 00:02:53,639 --> 00:02:56,760 Speaker 4: you know, double digit move that caught my eye is 55 00:02:56,919 --> 00:03:00,600 Speaker 4: ax On, So this is the Taser maker. Shares are 56 00:03:00,600 --> 00:03:03,320 Speaker 4: down more than twenty percent right now. In after hours. 57 00:03:03,720 --> 00:03:09,160 Speaker 4: The company reported a narrower capital expenditure forecast for the 58 00:03:09,200 --> 00:03:11,799 Speaker 4: full year. It seems like that's something that people are 59 00:03:11,840 --> 00:03:14,280 Speaker 4: sort of zeroing in on. And there were some segments 60 00:03:14,320 --> 00:03:17,440 Speaker 4: sales sort of fell short of Wall Street estimates. So 61 00:03:17,600 --> 00:03:22,960 Speaker 4: Taser segment net sales were twenty three No, two hundred 62 00:03:22,960 --> 00:03:25,760 Speaker 4: and thirty eight million. Estimate was closer to two hundred 63 00:03:25,760 --> 00:03:29,440 Speaker 4: and sixty million, and then Software and Censors came in 64 00:03:30,240 --> 00:03:32,720 Speaker 4: about three hundred and five million, and the estimate was 65 00:03:33,040 --> 00:03:34,160 Speaker 4: four hundred and twenty seven. 66 00:03:34,280 --> 00:03:36,640 Speaker 1: That's a big mess. Twenty percent is still that's a 67 00:03:36,720 --> 00:03:37,280 Speaker 1: giant weab. 68 00:03:37,360 --> 00:03:40,080 Speaker 4: Yeah. It also said it will buy Carbine, which is 69 00:03:40,120 --> 00:03:43,880 Speaker 4: an emergency communication and response platform. The deal values that 70 00:03:43,920 --> 00:03:46,320 Speaker 4: company at six hundred and twenty five million, so we 71 00:03:46,360 --> 00:03:49,320 Speaker 4: could also just be seeing that. Yep, yep. 72 00:03:50,240 --> 00:03:52,720 Speaker 3: I'm always curious, maybe Barry, we could get your take 73 00:03:52,760 --> 00:03:55,680 Speaker 3: on this about like how investors are supposed to interpret 74 00:03:55,720 --> 00:03:59,200 Speaker 3: the capex in this environment, Like after earning the company 75 00:03:59,240 --> 00:04:02,160 Speaker 3: comes out and says we're going to spend more on 76 00:04:02,200 --> 00:04:04,880 Speaker 3: this exciting new thing. Is that good or is that 77 00:04:04,920 --> 00:04:05,560 Speaker 3: bad for the stock? 78 00:04:05,880 --> 00:04:08,520 Speaker 1: You know, we discussed that briefly with man Deep when 79 00:04:08,560 --> 00:04:11,960 Speaker 1: he was here. If it's some of the hyperscalers that 80 00:04:12,160 --> 00:04:16,360 Speaker 1: have a business that depends on CAPEC spending, so those 81 00:04:16,360 --> 00:04:19,599 Speaker 1: are the Amazons and the Oracles of the world. Hey, 82 00:04:19,640 --> 00:04:21,960 Speaker 1: the more we spend, the more revenue that gives us 83 00:04:22,040 --> 00:04:24,679 Speaker 1: out a couple of quarters or a couple of years out. 84 00:04:25,640 --> 00:04:28,600 Speaker 1: The investing community seems to like that. But on the 85 00:04:28,640 --> 00:04:31,400 Speaker 1: flip side of that, when you have meta, when you 86 00:04:31,440 --> 00:04:34,599 Speaker 1: have Facebook, I still can't call it meta. When Facebook 87 00:04:34,640 --> 00:04:37,960 Speaker 1: says we're going to spend one hundred billion dollars because 88 00:04:38,240 --> 00:04:42,039 Speaker 1: you know, Facebook. 89 00:04:42,240 --> 00:04:43,560 Speaker 3: Because we have the money, right. 90 00:04:43,440 --> 00:04:46,440 Speaker 1: Because we have that money, you get a generous response 91 00:04:46,480 --> 00:04:49,840 Speaker 1: from investors that, hey, one hundred billion dollars is a 92 00:04:49,839 --> 00:04:51,840 Speaker 1: lot of cash flow. Your earnings are going to be 93 00:04:51,880 --> 00:04:54,760 Speaker 1: affected by that. We're not that happy. And what was 94 00:04:54,800 --> 00:04:58,000 Speaker 1: Facebook down? What was Meta down briefly after earnings about 95 00:04:58,120 --> 00:05:01,480 Speaker 1: nine percent. That's a pretty big big move for a 96 00:05:01,640 --> 00:05:03,719 Speaker 1: nearly trillion dollar company. 97 00:05:03,600 --> 00:05:06,520 Speaker 3: Carmen in just fifteen seconds. What are your sources saying? 98 00:05:06,560 --> 00:05:10,480 Speaker 3: Do they like to hear kapex or if a company 99 00:05:10,520 --> 00:05:11,680 Speaker 3: comes out and says, oh, we're going to. 100 00:05:11,600 --> 00:05:14,719 Speaker 4: Spend a ton, I think it's so cyclical. And this 101 00:05:14,800 --> 00:05:16,960 Speaker 4: is something that we even saw sort of a year 102 00:05:17,000 --> 00:05:22,039 Speaker 4: ago in the AI. You know trend is that you know, 103 00:05:22,160 --> 00:05:25,440 Speaker 4: people were not excited about Capex because they weren't seeing 104 00:05:25,440 --> 00:05:28,120 Speaker 4: the ROI. So I think if there is the idea 105 00:05:28,120 --> 00:05:29,919 Speaker 4: that ROI is going to come, people are happy about it. 106 00:05:30,200 --> 00:05:33,919 Speaker 4: But if those results aren't there or they're not anticipated 107 00:05:33,960 --> 00:05:36,120 Speaker 4: to be there then it becomes something that investors want 108 00:05:36,120 --> 00:05:37,640 Speaker 4: to punish. 109 00:05:38,279 --> 00:05:42,320 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 110 00:05:42,400 --> 00:05:45,000 Speaker 2: us throughout the day for the latest roundup of companies 111 00:05:45,040 --> 00:05:48,120 Speaker 2: making news on Wall Street and for the latest market 112 00:05:48,160 --> 00:05:52,640 Speaker 2: moving headlines. 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