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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 1: I'm Carol Masser along with Tim Stanevik. Let's get to

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Speaker 1: some stocks on the move in the house. Bloomberg News

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Speaker 1: Equities reporter Alexandra Semonova.

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Speaker 2: Good to have you here. There are some great.

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Speaker 1: Good to be here, some big movers today.

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Speaker 2: Yeah.

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Speaker 3: I realized that if we're not talking about geopolitical headlines,

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Speaker 3: then we're talking about an AI deal. And given the

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Speaker 3: calm that we're experiencing right now in the headline front,

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Speaker 3: I'm going to tell you guys about core Weave, which

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Speaker 3: is up about three percent today. This is after it

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Speaker 3: struck a twenty one billion dollar deal with Meta Platforms.

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Speaker 3: They already have an existing relationship and this is deepening

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Speaker 3: that relationship. Core We've now holds thirty five billion dollars

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Speaker 3: in contracts with metap, making the tech firm one of

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Speaker 3: its largest customers. And the goal here is, of course,

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Speaker 3: Meta kind of trying to build out its AI models.

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Speaker 3: Core Weave will provide a cloud capacity to Meta from

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Speaker 3: multiple data centers powered in part also by Nvidia's systems

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Speaker 3: of chips and Meta also up about two point five percent.

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Speaker 1: So these are those neo clouds, right, it's kind of

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Speaker 1: like outsourcing, right, your.

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Speaker 4: Data Centervi Nevius is another one of those.

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Speaker 1: But it's like kind of you know, right, for computing power.

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Speaker 1: And so I find other folks with.

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Speaker 4: Big data, the opposite of the hyperscalers.

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Speaker 1: Correct, right, who are doing which is meta?

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Speaker 4: And this is a nice Livingston, New Jersey company too.

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Speaker 4: Don't forget New Jersey.

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Speaker 1: We do it so well.

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Speaker 3: Also testament of how intertwined all these companies are.

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Speaker 1: That's the thing that makes me very fascinate, right, It

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Speaker 1: just you just wonder, you know, real or creating demand.

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Speaker 1: And I guess time will tell on this.

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Speaker 4: And that's a question about core Weave in its business model.

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Speaker 4: Because sixty seven percent of its revenue, according to the

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Speaker 4: supply chain function on the Bloomberg terminal, comes from Microsoft.

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Speaker 4: Then it's eight percent from meta platforms, five percent from

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Speaker 4: out bet, and than one point six from IBM. So

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Speaker 4: four customers, basically.

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Speaker 1: Yeah, I mean good customers. Right, If you're going to

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Speaker 1: have four, those are good ones. But if anything changes

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Speaker 1: dramatically in their business situations. That's going to have a

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Speaker 1: big impact on COREED. Let's go to Caravana.

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Speaker 3: Yeah, I love talking about this company because of its

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Speaker 3: turnaround story. It basically came back from the dead. It

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Speaker 3: surged ten thousand percent. You guys remember from being a

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Speaker 3: four dollars stock to four hundred dollars last year. But

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Speaker 3: under pressure now it is sliding. Today looks like it's

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Speaker 3: down about two point nine percent, less of a decline

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Speaker 3: than earlier in the day, was down as much as

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Speaker 3: six point six percent. This is after JP Morgan cut

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Speaker 3: its price target on the car retailer. Basically, they slashed

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Speaker 3: their estimates for the company's twenty twenty six EBIT top

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Speaker 3: They cited weaker than expected industry demand, ongoing higher fuel expenses,

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Speaker 3: and kind of general pressure and kind of customers moving

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Speaker 3: away from this business model. They are, of course, that

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Speaker 3: company that has those car vending machine. I guess their

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Speaker 3: expectation is that with higher oil prices and consumers being

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Speaker 3: a little bit cash strapped, they're not going to be

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Speaker 3: buying those cars.

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Speaker 1: Yeah, that kind of makes sense. I don't know. Yeah,

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Speaker 1: but this one is I agree with you. I think

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Speaker 1: it's just a fascinating story, and it's I almost feel

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Speaker 1: like it's a great business school case study, just kind

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Speaker 1: of the highs and lows. And definitely this company, let's

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Speaker 1: go to Chevron, makes sense to be talking about one

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Speaker 1: of the major oil companies here.

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Speaker 3: Yeah, so you would think that an increase in oil

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Speaker 3: prices would be a boon for some of these companies,

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Speaker 3: but it actually was a lot more complicated than that,

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Speaker 3: given these shipping blockades and the strait of horror moves.

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Speaker 3: Exxon and Chevron lost about six percent of their global

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Speaker 3: production in the first quarter. Shells gas output was five

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Speaker 3: percent lower, largely because of what is going on in

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Speaker 3: the Middle East. So it's been a really difficult quarter

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Speaker 3: for them. Analysts are lowering their forecasts actually after these

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Speaker 3: reports for Exon and Chevron's first quarter results after the

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Speaker 3: company is disclosed about seven billion dollars in mark to

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Speaker 3: market or a bit of losses combined. And Jeffrey's analyst said,

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Speaker 3: very simply, the Middle East makes it a messy quarter.

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Speaker 3: Pretty much the takeaway here.

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Speaker 4: Yeah, you know, Chevron, for example, down today but up

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Speaker 4: twenty five percent so far this year. You have to

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Speaker 4: wonder what's been baked in over the last few weeks,

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Speaker 4: those investors have been like, wait a second, we have

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Speaker 4: these higher energy prices, we have an issue when it

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Speaker 4: comes to supply, a supply shock. You know, we're going

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Speaker 4: to buy the stock at this point, I don't know.

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Speaker 3: Yeah, So obviously the bar was also high getting the run.

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Speaker 4: Up that oil stock's not bad, but neat oil.

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Speaker 3: Yeah, we do.

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Speaker 2: This Stock movers report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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