WEBVTT - Stock Movers: Meta Rises on Cloud Infrastructure, Coreweave Sinks, Bending Spoons IPOs

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

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<v Speaker 2>This is the closing bell on this stock movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greifel.

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<v Speaker 1>All Right, so that's a look the big picture there.

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<v Speaker 1>From Katie, I'm going to go back to the S

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<v Speaker 1>and P five hundred and Bailly, you've got two hundred

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<v Speaker 1>and ninety nine names in the S and P five

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<v Speaker 1>hundred higher here at the close, about two hundred and

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<v Speaker 1>four to the downside, one unchanged.

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<v Speaker 3>Yeah, and we're looking a little bit under the hood

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<v Speaker 3>on a sector bisector basis, seeing some strength for communication

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<v Speaker 3>services and financials as well as consumer discretionary, but the

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<v Speaker 3>big drags information technology, and then also seeing some weakness

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<v Speaker 3>across utilities and industrials. So an interesting bifurcated market.

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<v Speaker 1>All right, guys, let's get to some individual gainers if

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<v Speaker 1>I may. And I'm looking at the number three gainer

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<v Speaker 1>in the S and P five hundred today, and it's

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<v Speaker 1>the number two gainer in the Nasdaq one hundred. We

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<v Speaker 1>are talking about meta platforms. This one at its highs

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<v Speaker 1>Intra day up about eleven and a half percent, settling

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<v Speaker 1>down though with just under a nine percent gain in

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<v Speaker 1>the session. This has the company's developing plans for a

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<v Speaker 1>cloud infrastructure business to sell access to AI computing power

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<v Speaker 1>and models, competing with industry leaders such as Amazon Web

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<v Speaker 1>Services and Google Cloud. So really leading into the hyperscaler mode,

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<v Speaker 1>if you will. Company considering selling access to various AI

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<v Speaker 1>models hosted on its existing AI infrastructure, as well as

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<v Speaker 1>raw computing capacity as part of its meta compute initiatives.

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<v Speaker 1>Some of this has to be as a result of

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<v Speaker 1>the pressure on the company to basically justify all of

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<v Speaker 1>the spend that it has done on building out some

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<v Speaker 1>of their data centers. So now maybe kind of renting out,

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<v Speaker 1>if you will, it's excess capacities. So an interesting one

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<v Speaker 1>on this. We talked with our mandeep Seeing of Bloomberg Intelligence.

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<v Speaker 1>He's like, is this a temporary thing? Is this something

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<v Speaker 1>more substantial? So we'll look for some more clarity from

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<v Speaker 1>the company on that one. Over to another mag seven

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<v Speaker 1>I go got to talk about Microsoft coming off its

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<v Speaker 1>worst month in years due to concerns about how the

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<v Speaker 1>company will fare in a world marked by AI. The

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<v Speaker 1>stock was down seventeen percent in the month of June,

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<v Speaker 1>bouncing back a little bit here on the first trading

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<v Speaker 1>day of July, up about three percent in today's session.

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<v Speaker 1>Microsoft planning to announce thousands of layoffs as the company

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<v Speaker 1>aims to increase spending on AI tech. John is expected

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<v Speaker 1>to cut less than two and a half percent of

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<v Speaker 1>its overall workforce of about two hundred and twenty thousand people.

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<v Speaker 1>This according to people familiar with the matter. This was

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<v Speaker 1>coming from Business Insider. They reported this late yesterday. So

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<v Speaker 1>the stock bouncing back today and then Bailly, you were like,

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<v Speaker 1>you're all over the place. You were on air with

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<v Speaker 1>us in the two o'clock hour. We cut up with

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<v Speaker 1>one of the co founders of one of the IPOs

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<v Speaker 1>today bending spoons and IPO at the close up about

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<v Speaker 1>forty percent in its first day of trading here and

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<v Speaker 1>this come it's backers raising about one point sixty eight billion.

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<v Speaker 4>Market value of I should pull it up. It was

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<v Speaker 4>roughly about twenty one billion.

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<v Speaker 3>Twenty six right now at least of the clothes, Carol,

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<v Speaker 3>So pretty darn big move.

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<v Speaker 1>Not too shabby, right, Although I feel like you and

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<v Speaker 1>me and Tim we like we were trying to like

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<v Speaker 1>press this guy one of the co.

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<v Speaker 4>Founders, Luca Ferrari.

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<v Speaker 1>Luca Ferrari, I'm like what the business model is and

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<v Speaker 1>kind of where growth comes from going going forward, So

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<v Speaker 1>a lot of questions. I'm already looking forward to its

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<v Speaker 1>first earnings day.

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<v Speaker 4>Yeah, you and I both, Yeah, exactly.

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<v Speaker 5>Bailey had great coverage on the Bloomberg terminal. Time to

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<v Speaker 5>check out his stories there. Hey, I wanted to get

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<v Speaker 5>to decliners and I kind of want to play off

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<v Speaker 5>of what Carol said about meta platforms. Core We've share

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<v Speaker 5>a study falling fourteen percent, so metasurging by you know,

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<v Speaker 5>after our Bloomberg News team reported that they're getting into

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<v Speaker 5>this new business. But it's Core Weave's turf, specifically considering

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<v Speaker 5>signing access to various AI models hosted on its existing

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<v Speaker 5>AI of infrastructure as well as so called raw computing

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<v Speaker 5>capacity that would be part of its meta compute initiative.

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<v Speaker 5>And that is what Core We've done.

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<v Speaker 6>It does.

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<v Speaker 5>We also saw Nevius fall double digits today, another neocloud

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<v Speaker 5>provider also check out shares of Caterpillar. Speaking of AI plays, Yes,

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<v Speaker 5>Caterpillar has went an AI play down six point nine

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<v Speaker 5>percent just today. Michael Burry you know him from the

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<v Speaker 5>Big Short for his bets against the US housing market

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<v Speaker 5>ahead of the two thousand and eight financial crisis. He

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<v Speaker 5>said in a late in a post late on Tuesday

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<v Speaker 5>on Substack that he shorted Caterpillar shares for the first time.

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<v Speaker 5>He also shorted Nvidia Applied Materials I share, Semiconductor ETF TESLA,

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<v Speaker 5>saying that the socks itself is a pure form of

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<v Speaker 5>overvaluation in an index. Okay, Caterpillar shares down today by

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<v Speaker 5>six point nine percent, And finally, let's get into retail.

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<v Speaker 5>And with Walmart shares falling today by close to four percent,

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<v Speaker 5>it closed at its lowest intra day going back to

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<v Speaker 5>November of twenty twenty five, or actually lowest closed now

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<v Speaker 5>since November of twenty twenty five. Down for six days

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<v Speaker 5>in a row, the longest string of down days since

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<v Speaker 5>October thirty. First Cleveland Research issue to report that says

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<v Speaker 5>that quarter quarter day trends have slowed. Separately, Jeffrey's US

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<v Speaker 5>consumer strategist wrote that, well, he's unsure if it's the

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<v Speaker 5>bottom for Walmart shares. He has no idea when new

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<v Speaker 5>money will step in. Given the drop today and the

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<v Speaker 5>twenty percent decline from the peak. He said he would

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<v Speaker 5>not be shocked if Walmart executives are discussing is there

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<v Speaker 5>something we should do or say this week or next

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<v Speaker 5>given the violence in the move lower dounklast of twenty

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<v Speaker 5>percent from those June highs.

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<v Speaker 6>Right, let's take a quick look at the bond market.

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<v Speaker 6>We did hear from FRED chairman Kevin Worsh speaking in

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<v Speaker 6>CenTra earlier today saying that inflation risks are down, not

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<v Speaker 6>making too much of an impact in the market overall.

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<v Speaker 6>You can see we're talking about basis point moves in

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<v Speaker 6>either direction. We know we have that big jobs report

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<v Speaker 6>coming on tomorrow, a rare Thursday jobs report, So maybe

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<v Speaker 6>lying in wait for that, But I just I really

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<v Speaker 6>want to talk about Taylor Swift.

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<v Speaker 3>Well.

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<v Speaker 1>I was going to say, yeah, there's the jobs report,

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<v Speaker 1>that's important, but you know it's really important. Well, is

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<v Speaker 1>Taylor Swift? Are they getting married? Really at the garden?

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<v Speaker 4>I don't know it. I feel like no, I can't believe.

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<v Speaker 5>I feel like it's a.

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<v Speaker 4>Major major distraction. I yeah, maybe that's true. Thing obvious, right,

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<v Speaker 4>I don't know.

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<v Speaker 6>I hope it's a red herring. If it's a red herring,

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<v Speaker 6>they put a lot of planning, a lot of logistics, but.

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<v Speaker 4>She's good with this kind of stuff. She is distracting.

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<v Speaker 6>So The New York Times has reported that there's a

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<v Speaker 6>plan gathering of one hundred people at Madison Square Garden

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<v Speaker 6>on July second, which is tomorrow, followed by a second

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<v Speaker 6>event for about a thousand guests on July third. So

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<v Speaker 6>it hasn't actually been confirmed that this is the wedding.

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<v Speaker 5>Wouldn't you wouldn't you just like do maybe a concert

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<v Speaker 5>or a party and then.

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<v Speaker 4>I think she's going to do a concert.

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<v Speaker 5>And then and then maybe get all your guests on

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<v Speaker 5>on some planes or something and bring them to Rhode Island.

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<v Speaker 1>Will you go to watch out where she has a

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<v Speaker 1>beautiful estate up on the hills overlooking the ocean.

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<v Speaker 4>That would That's what I'm hoping happy.

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<v Speaker 5>What do you think?

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<v Speaker 6>I just I can't believe that she.

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<v Speaker 3>Would do it. I think it's a headfake. But I

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<v Speaker 3>also want to give Travis some love. I feel like

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<v Speaker 3>all we do is call it Taylor's wedding. There have

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<v Speaker 3>to be two people to be.

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<v Speaker 2>Part of it.

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<v Speaker 4>Baily, you've been married, don't you know? The wedding is

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<v Speaker 4>all about married married, you are married. Sorry, sorry, sorry,

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<v Speaker 4>it's only about the bride.

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<v Speaker 3>My first wife is a big fan of God.

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<v Speaker 4>My girlfriend wife.

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<v Speaker 6>Yeah, that's funny.

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<v Speaker 4>We'll see though.

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<v Speaker 6>I mean, it's kind of exciting because we're going to

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<v Speaker 6>find out in the next few days what exactly is

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<v Speaker 6>happening here.

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<v Speaker 3>But it just seems I think the best part is, Katie,

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<v Speaker 3>you want to talk about it, but you're like, I

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<v Speaker 3>cannot wait to not be in Manhattan. I know, to

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<v Speaker 3>find out.

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<v Speaker 6>I know that's the thing. Getting out of the city

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<v Speaker 6>is the thing to do. It's funny actually in New

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<v Speaker 6>York City, Mayor Zora and Mandani has been asked multiple

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<v Speaker 6>times about this. He's used those occasions decide step the

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<v Speaker 6>question and just encourage everyone to stay cool during the

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<v Speaker 6>heat wave as that heat dome descends upon us.

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<v Speaker 4>All I'm just gonna say she's known for her Fourth

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<v Speaker 4>of July parties. I know she's kind of like reading

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<v Speaker 4>up to it.

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<v Speaker 6>And you know, again we're just talking about July second,

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<v Speaker 6>July third, So maybe the wedding really is on July fourth.

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<v Speaker 6>Maybe she isn't really getting married at MSG that would

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<v Speaker 6>be insane.

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<v Speaker 1>Well, I know, is you got to get it done

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<v Speaker 1>before the next football season starts.

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<v Speaker 4>When did we start training?

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<v Speaker 1>Why?

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<v Speaker 4>Why would you look at me? I know this is

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<v Speaker 4>not although you've been all in on stat.

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<v Speaker 3>Bailey's got some time, he's got some time to before,

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<v Speaker 3>he's got a report for camp.

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<v Speaker 4>You got to do a honeymoon, but you don't have honeymoon.

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<v Speaker 1>Yeah, all right, Well, I hope you and your first

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<v Speaker 1>wife are okay.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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