Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: The Stock Mover's Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Emli Grafeo along with Barry Htholtz. Let's take a
Speaker 3: look at some stocks on the move today with Carmen
Speaker 3: Reinikey equities reporter and a deputy team leader for US
Speaker 3: Equities at Bloomberg News. Let's go to Pallenteer. That was
Speaker 3: a story dominating yesterday's postmarket trade and today's trade.
Speaker 4: Yeah, so, and it's also just it's unusual to see
Speaker 4: a company beat and raise in its earnings and then
Speaker 4: fall this much. So Palenteer, which is ticker PLTR, fell
Speaker 4: nearly eight percent today, which is the worst one day
Speaker 4: drop since August. So they were at or near record
Speaker 4: high before earning. So maybe a little bit of buy
Speaker 4: the rumors, sell the news. But there was also some
Speaker 4: tension that sort of came around after the report. So
Speaker 4: Michael Berry, a big short fame, disclosed some bearish wagers
Speaker 4: on Palenteer and in video, so he bought Palenteer put
Speaker 4: options seemingly, you know, a little bit of a barish
Speaker 4: bet that could have been why the stock is moving. Also,
Speaker 4: you know, Alex Karp's CEO and gave a lot of
Speaker 4: very colorful comments on both the earnings call last name
Speaker 4: that on CNBC again today, and you know, he has
Speaker 4: a ton of retail following. People generally really like him.
Speaker 4: But you never know, I mean maybe that that could
Speaker 4: have also sort of added to some embarrassing.
Speaker 1: And what about AMD that that's also did pretty good,
Speaker 1: but we're seeing, you know, not a great response.
Speaker 4: Well, it's kind of all over the place. So it was,
Speaker 4: you know, it was up a little bit, it was
Speaker 4: down as much as four percent. Now it's just slightly
Speaker 4: below zero. It's you know, kind of trending down flat
Speaker 4: towards yeah, flat. But this is also one that had
Speaker 4: a really huge rally up into earnings today. It was
Speaker 4: near a record high. It's really gotten this huge push
Speaker 4: behind it as sort of the contender to Nvidia in
Speaker 4: you know, the AI chip race. So you know, they
Speaker 4: give a revenue forecast that maybe is sort of failing
Speaker 4: to live up to very lofty expectations. Fourth quarter revenue
Speaker 4: they said will be roughly nine point six billion. Analystid
Speaker 4: estimated nine point two billion on average, but there was
Speaker 4: some very high project projections that were nearly ten billion,
Speaker 4: so well, you know it'll be we'll see what's you know,
Speaker 4: going to keep happening there. I think the earnings calls
Speaker 4: coming up, so that's something definitely I'll be listening to.
Speaker 4: But we have a few other really interesting after hours movers.
Speaker 4: So Arista Networks is down. Let me see where it
Speaker 4: is now? Down a down eleven percent. So the company's
Speaker 4: forecast for adjusted gross margin in the fourth quarter fell
Speaker 4: short of the average analyst estimate. But that's really the
Speaker 4: only negative thing I could see so far looking at
Speaker 4: this report, So it's the one I'm going to keep
Speaker 4: an eye on. The Other one that's just a big,
Speaker 4: you know, double digit move that caught my eye is
Speaker 4: ax On, So this is the Taser maker. Shares are
Speaker 4: down more than twenty percent right now. In after hours.
Speaker 4: The company reported a narrower capital expenditure forecast for the
Speaker 4: full year. It seems like that's something that people are
Speaker 4: sort of zeroing in on. And there were some segments
Speaker 4: sales sort of fell short of Wall Street estimates. So
Speaker 4: Taser segment net sales were twenty three No, two hundred
Speaker 4: and thirty eight million. Estimate was closer to two hundred
Speaker 4: and sixty million, and then Software and Censors came in
Speaker 4: about three hundred and five million, and the estimate was
Speaker 4: four hundred and twenty seven.
Speaker 1: That's a big mess. Twenty percent is still that's a
Speaker 1: giant weab.
Speaker 4: Yeah. It also said it will buy Carbine, which is
Speaker 4: an emergency communication and response platform. The deal values that
Speaker 4: company at six hundred and twenty five million, so we
Speaker 4: could also just be seeing that. Yep, yep.
Speaker 3: I'm always curious, maybe Barry, we could get your take
Speaker 3: on this about like how investors are supposed to interpret
Speaker 3: the capex in this environment, Like after earning the company
Speaker 3: comes out and says we're going to spend more on
Speaker 3: this exciting new thing. Is that good or is that
Speaker 3: bad for the stock?
Speaker 1: You know, we discussed that briefly with man Deep when
Speaker 1: he was here. If it's some of the hyperscalers that
Speaker 1: have a business that depends on CAPEC spending, so those
Speaker 1: are the Amazons and the Oracles of the world. Hey,
Speaker 1: the more we spend, the more revenue that gives us
Speaker 1: out a couple of quarters or a couple of years out.
Speaker 1: The investing community seems to like that. But on the
Speaker 1: flip side of that, when you have meta, when you
Speaker 1: have Facebook, I still can't call it meta. When Facebook
Speaker 1: says we're going to spend one hundred billion dollars because
Speaker 1: you know, Facebook.
Speaker 3: Because we have the money, right.
Speaker 1: Because we have that money, you get a generous response
Speaker 1: from investors that, hey, one hundred billion dollars is a
Speaker 1: lot of cash flow. Your earnings are going to be
Speaker 1: affected by that. We're not that happy. And what was
Speaker 1: Facebook down? What was Meta down briefly after earnings about
Speaker 1: nine percent. That's a pretty big big move for a
Speaker 1: nearly trillion dollar company.
Speaker 3: Carmen in just fifteen seconds. What are your sources saying?
Speaker 3: Do they like to hear kapex or if a company
Speaker 3: comes out and says, oh, we're going to.
Speaker 4: Spend a ton, I think it's so cyclical. And this
Speaker 4: is something that we even saw sort of a year
Speaker 4: ago in the AI. You know trend is that you know,
Speaker 4: people were not excited about Capex because they weren't seeing
Speaker 4: the ROI. So I think if there is the idea
Speaker 4: that ROI is going to come, people are happy about it.
Speaker 4: But if those results aren't there or they're not anticipated
Speaker 4: to be there then it becomes something that investors want
Speaker 4: to punish.
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