Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Tom Keen with Paul Smeni and Bloomberg's Lisa Matteo
Speaker 1: working right to Happy hour on Friday. She has the
Speaker 1: Stock Movers. It's a podcast, Lisa.
Speaker 3: We do a lot of earnings to get through, Okay,
Speaker 3: so we'll start with Tesla. Tsla down nearly four percent.
Speaker 3: So here's the thing. It was a record quarter of
Speaker 3: vehicle sales, but profit fell. That extended the string of
Speaker 3: weaker than expected profit to four quarters in a row. Now,
Speaker 3: on the earnings call, Elon Musk, he spoke about a
Speaker 3: few things. One, he talked about humanoid robots. He talked
Speaker 3: about AI programs. He also talked about self driving technology.
Speaker 3: He asked investors to back his trillion dollar compensation package too.
Speaker 3: But what he really failed to touch upon in what
Speaker 3: else we're saying is that how Tasla is going to
Speaker 3: revive its core business of selling evs. And that's what
Speaker 3: kind of they wanted to hear and they didn't get
Speaker 3: that there was a forty percent drop in operating profit,
Speaker 3: so that was the issue there. Their operating expenses is expensive,
Speaker 3: sort of fifty percent to three point four billion in
Speaker 3: the quarter, and tariff costs exceeding four hundred million dollars
Speaker 3: for Tesla.
Speaker 4: Yeah, I don't think it's about being a car company anymore.
Speaker 4: He's trying to get into the focus on all the other.
Speaker 1: Kids, just the car companies, all the other stuff.
Speaker 4: Hope in prayers that's it is, But that's I would argue,
Speaker 4: that's generally been the Tesla slash Elon.
Speaker 1: Musk's story from day one time.
Speaker 4: But now you're really have to hang your hat on.
Speaker 1: All that, he said, Ludlow driving his Tesla with his
Speaker 1: hands off the way I think he is.
Speaker 4: Every time he he says he has a problem with
Speaker 4: the Golden Gate Bridge.
Speaker 1: Yeah, well, you fine, splashing.
Speaker 3: Into the toll booths are an issue, he said, what
Speaker 3: do you got next? Okay, T Mobile to take your
Speaker 3: tm US shares have been kind of back and forth.
Speaker 3: We've been back and forth. So it basically gained about
Speaker 3: a million new mobile phone subscribers. It raised its outlook
Speaker 3: for the year. It was all kept a flow because
Speaker 3: they had that recent acquisition of US Cellular and it
Speaker 3: absorbed about four and a half million customers from that.
Speaker 3: It's their highest third quarter result in that category in
Speaker 3: more than a decade, so it was some good news
Speaker 3: for them. What also helped drive new subscribers. The analysts
Speaker 3: are saying it's the Apple iPhone seventeen release in September.
Speaker 3: People wanted it, and so they kind of traded and
Speaker 3: went to that and they expect to add as many
Speaker 3: as three point three million wild Lift subscribers for the year,
Speaker 3: about one hundred and thirty thousand five or home internet customers.
Speaker 3: But we've been talking about this big battle between them
Speaker 3: at and T Verizon.
Speaker 4: Where are you going to go?
Speaker 1: And that's the question, where are people going now? I
Speaker 1: don't I mean, there was a huge T mobile success
Speaker 1: at one point, but I don't know really where it
Speaker 1: is right.
Speaker 3: It comes down to price. I'm actually going to start
Speaker 3: shopping around so we'll see. Really, yes, I got to
Speaker 3: cut and cut some expenses out somewhere.
Speaker 1: If you're listening over to Mobile, a magenta.
Speaker 3: T shirt, a new iPhone, there you go, what do
Speaker 3: you got? Okay? I also want to go to IBM,
Speaker 3: because their sharees have really been taking a hit, down
Speaker 3: more than seven percent. Disappointing revenue. There were two key
Speaker 3: software categories, including their closely watched red hat unit and
Speaker 3: if you're wondering, what is that red Hat, So that
Speaker 3: basically helps customers manage their data applications among different types
Speaker 3: of computing equipment. But the investors see those categories as
Speaker 3: critical to growth and they didn't see the growth, so
Speaker 3: that's what they didn't like. Third quarter sales and that
Speaker 3: hybrid cloud unit that includes red Hat increased fourteen percent,
Speaker 3: which was a slow down from the previous period, but
Speaker 3: also below estimates too, so investors were not happy with that.
Speaker 4: Yeah, and the stocket you know, had been up thirty
Speaker 4: percent this year, so right, getting some of the AI
Speaker 4: love a little bit. And part of it was due
Speaker 4: to that red Hat, which was an acquisition they made
Speaker 4: I don't know, ten years ago maybe, and it was
Speaker 4: a big big deal for them at the time to
Speaker 4: try to turn this old stodgy tech company around. It
Speaker 4: was working, so says on a Rock Rana. For years,
Speaker 4: been a little bit of a hiccup.
Speaker 1: Here this quarter, have they succeeded?
Speaker 4: Yeah, I mean on Rock Rana from Bloomberg Intelligence. It says, Yeah,
Speaker 4: that was a good acquisition. They somehow turn this battleship
Speaker 4: kind of in the right direction.
Speaker 2: But a little bit of it because says this stock
Speaker 2: mover's report from Bloomberg Radio. Check back with us throughout
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