1 00:00:02,480 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,520 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,440 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,720 --> 00:00:21,040 Speaker 3: I'm Jim Stenovic along with Carol Masser. Sounded like I 5 00:00:21,079 --> 00:00:24,200 Speaker 3: was asking a question there, I know. I'm Tim steenavek' Tim, 6 00:00:25,040 --> 00:00:26,480 Speaker 3: I'm Kim stenebec. 7 00:00:26,320 --> 00:00:26,680 Speaker 1: What is it? 8 00:00:27,200 --> 00:00:31,080 Speaker 3: Akerman? Yeah, San Diego, I'm I'm what was it? 9 00:00:31,600 --> 00:00:31,720 Speaker 4: Oh? 10 00:00:31,800 --> 00:00:35,640 Speaker 3: I'm Ron Talia with Talia helped us out. Thank you, 11 00:00:35,880 --> 00:00:36,880 Speaker 3: Thank you, Talia. 12 00:00:36,640 --> 00:00:37,640 Speaker 1: Man Tuesday Brain. 13 00:00:38,280 --> 00:00:40,640 Speaker 3: I'm Tim Stataveg along with Carol Masser. Let's take a 14 00:00:40,640 --> 00:00:42,920 Speaker 3: look at some stocks on the move today. We're joined 15 00:00:42,960 --> 00:00:48,960 Speaker 3: by Bloomberg News Equities reporter Jordan Fitzgerald. She's here with us. Jordan, 16 00:00:49,640 --> 00:00:52,159 Speaker 3: You've got a lot to choose from, starting with Tesla. 17 00:00:52,479 --> 00:00:54,240 Speaker 4: It has not been a boring day. And if there's 18 00:00:54,280 --> 00:00:56,440 Speaker 4: something to say on Tesla, someone on Twitter is certainly 19 00:00:56,480 --> 00:00:56,880 Speaker 4: saying it. 20 00:00:57,320 --> 00:00:58,680 Speaker 3: What are you saying about Tesla? 21 00:00:59,440 --> 00:01:03,640 Speaker 4: Yeah. Tesla closed down about four and a half percent 22 00:01:03,720 --> 00:01:08,400 Speaker 4: today after the company announced these long awaited, allegedly affordable 23 00:01:08,920 --> 00:01:11,880 Speaker 4: versions of its Model Y and Model three cars, and 24 00:01:12,240 --> 00:01:15,440 Speaker 4: it just didn't seem to meet the cut. Investors were 25 00:01:15,480 --> 00:01:20,000 Speaker 4: a bit disappointed by just how little the discount was. 26 00:01:20,480 --> 00:01:23,840 Speaker 4: And they've also cut some features that people expect of Tesla. 27 00:01:24,160 --> 00:01:26,479 Speaker 4: And they had an analyst tell me it's not, you know, 28 00:01:26,840 --> 00:01:29,040 Speaker 4: serving on price, it's not serving on performance. So who 29 00:01:29,080 --> 00:01:31,880 Speaker 4: are these cars for and can they help Tesla's bottom line? 30 00:01:32,480 --> 00:01:34,839 Speaker 3: So interesting. We had a great discussion with Steve Mann 31 00:01:34,880 --> 00:01:36,959 Speaker 3: on our program today. Check it out on our podcast 32 00:01:37,040 --> 00:01:40,240 Speaker 3: feed if you missed it. He's Bloomberg Intelligence autos analyst. 33 00:01:40,280 --> 00:01:42,720 Speaker 3: And my question in was like, Okay, are they selling 34 00:01:42,760 --> 00:01:45,440 Speaker 3: these at cost like Jeff Bezos did with the Kindle 35 00:01:45,520 --> 00:01:49,480 Speaker 3: initially to get people to buy the books, because that's 36 00:01:49,560 --> 00:01:52,160 Speaker 3: high margins, So if you know, are they going to 37 00:01:52,160 --> 00:01:54,720 Speaker 3: be selling the autonomous driver software and stuff? And he said, 38 00:01:54,920 --> 00:01:57,400 Speaker 3: it's not just Tesla love, that's like the ultimate thing. 39 00:01:57,560 --> 00:02:00,560 Speaker 3: Services would be really great for any of these companies. 40 00:02:00,920 --> 00:02:03,440 Speaker 4: Yeah, and Tesla is really just looking for cash to 41 00:02:03,480 --> 00:02:06,840 Speaker 4: fund its broader ambitions. Like Tesla wants to be more 42 00:02:06,840 --> 00:02:09,400 Speaker 4: than an EBAT company. It wants to, you know, build 43 00:02:09,520 --> 00:02:11,600 Speaker 4: robots that you keep in your house. It wants to 44 00:02:11,919 --> 00:02:15,040 Speaker 4: be your go to robo taxi. And in order to 45 00:02:15,480 --> 00:02:17,960 Speaker 4: drop the capital that will not only achieve these goals, 46 00:02:17,960 --> 00:02:20,600 Speaker 4: but by achieving these goals allow Elon Musk to reap 47 00:02:20,680 --> 00:02:24,160 Speaker 4: the full benefits of his trillion dollar pay package that's 48 00:02:24,280 --> 00:02:27,440 Speaker 4: up for vote in November. Tesla really needs the cash 49 00:02:27,480 --> 00:02:28,800 Speaker 4: to fund these projects. 50 00:02:28,960 --> 00:02:32,120 Speaker 1: I just want the boring company to create another big 51 00:02:32,200 --> 00:02:35,040 Speaker 1: hall out to my home just outside New York City 52 00:02:35,360 --> 00:02:37,000 Speaker 1: so that commuting is a little bit easier. 53 00:02:37,120 --> 00:02:39,000 Speaker 3: Yeah, that's not going to happen. We're not going to 54 00:02:39,040 --> 00:02:40,760 Speaker 3: get political here, but there is a thing called the 55 00:02:40,800 --> 00:02:44,720 Speaker 3: Gateway Project. I don't know if you're familiar. Yeah, yeah, 56 00:02:44,880 --> 00:02:48,919 Speaker 3: that funding is not Yeah, okay, so Tesla on your radarf. 57 00:02:48,960 --> 00:02:51,320 Speaker 1: Hey, a girl could dream, she can, she can. 58 00:02:52,520 --> 00:02:54,440 Speaker 4: And that commute leaves a long time for dreaming. 59 00:02:54,560 --> 00:02:56,960 Speaker 1: I know, I know, but you know again, I'm an optimist. 60 00:02:57,680 --> 00:03:00,280 Speaker 1: Ford could use some optimism about the autumn like it 61 00:03:00,400 --> 00:03:00,720 Speaker 1: right now. 62 00:03:00,800 --> 00:03:04,840 Speaker 4: Ford certainly needs a bit of help. So earlier in September, 63 00:03:04,919 --> 00:03:07,680 Speaker 4: there was a fire at an aluminum plant that supplies 64 00:03:07,880 --> 00:03:11,000 Speaker 4: metal to Ford, but it wasn't until The Wall Street 65 00:03:11,080 --> 00:03:13,320 Speaker 4: Journal reported last night that this would actually have a 66 00:03:13,360 --> 00:03:18,280 Speaker 4: pretty significant disruption effect on the company, that the stock 67 00:03:18,360 --> 00:03:20,720 Speaker 4: really took a hit, and so Ford saw it's worst 68 00:03:20,760 --> 00:03:21,520 Speaker 4: day since February. 69 00:03:21,520 --> 00:03:22,480 Speaker 1: Today, it's I. 70 00:03:22,480 --> 00:03:24,959 Speaker 3: Mean, we think about the fragility of supply chains, right, 71 00:03:25,080 --> 00:03:26,960 Speaker 3: this is not this is a Ford story, but it's 72 00:03:27,000 --> 00:03:30,520 Speaker 3: a company that Ford uses. Toyota also uses this company 73 00:03:30,520 --> 00:03:32,320 Speaker 3: as well for raw materials. 74 00:03:32,080 --> 00:03:35,320 Speaker 4: Or Yeah, and on the supply chain, if Ford can't 75 00:03:35,320 --> 00:03:37,720 Speaker 4: make as many cars, that means they're getting fewer supplies 76 00:03:37,760 --> 00:03:40,760 Speaker 4: from other suppliers. So the whole you know, auto supply 77 00:03:40,840 --> 00:03:44,160 Speaker 4: sector was really not happy with that news today. 78 00:03:44,240 --> 00:03:46,320 Speaker 1: I mean, listen. City said it's too soon to cut 79 00:03:46,360 --> 00:03:48,800 Speaker 1: forth quarter North American light vehicle forecast, but that the 80 00:03:48,840 --> 00:03:52,000 Speaker 1: fire could present a supply risk for the period. Slid 81 00:03:52,040 --> 00:03:54,560 Speaker 1: productions also risked to suppliers, according to City, So we're 82 00:03:54,560 --> 00:03:55,600 Speaker 1: gonna have to keep an eye on this one. 83 00:03:55,720 --> 00:03:58,320 Speaker 3: Ford shares falling six point one percent, the most going 84 00:03:58,440 --> 00:03:59,160 Speaker 3: back to February. 85 00:03:59,240 --> 00:04:03,160 Speaker 1: Ford ticker All right, So app Lovin didn't get so 86 00:04:03,240 --> 00:04:05,400 Speaker 1: much love yesterday, but it did today. 87 00:04:06,080 --> 00:04:09,200 Speaker 4: Yes, app Lovin is an interesting case. The stock actually 88 00:04:09,720 --> 00:04:13,120 Speaker 4: had a crazy third quarter. It was almost it over 89 00:04:13,200 --> 00:04:16,680 Speaker 4: doubled in value across the third quarter. And I think 90 00:04:16,720 --> 00:04:19,760 Speaker 4: people were really spooked by this headline yesterday that the 91 00:04:20,000 --> 00:04:23,920 Speaker 4: SEC is probing the company over its data practices, and 92 00:04:24,000 --> 00:04:25,960 Speaker 4: you know, there's a lot of scary words there. You know, 93 00:04:26,000 --> 00:04:27,920 Speaker 4: you never want to hear SEC. You never want to 94 00:04:27,960 --> 00:04:29,960 Speaker 4: hear the word probe. You rarely want to hear the 95 00:04:29,960 --> 00:04:30,720 Speaker 4: word Lovin. 96 00:04:30,680 --> 00:04:32,080 Speaker 2: Out a g and. 97 00:04:33,880 --> 00:04:37,360 Speaker 4: I think the market really took that seriously. But after 98 00:04:37,680 --> 00:04:38,479 Speaker 4: people got arrest. 99 00:04:38,600 --> 00:04:41,840 Speaker 1: Yes, we're not why the SEC is maybe just a 100 00:04:41,839 --> 00:04:45,640 Speaker 1: bit of a just a bit of a personal issue. 101 00:04:45,760 --> 00:04:48,600 Speaker 4: But after people took a step back and remembered that 102 00:04:48,680 --> 00:04:51,520 Speaker 4: app Lovin had this giant surge over the past few months. 103 00:04:51,560 --> 00:04:53,880 Speaker 4: There's actually a lot of strong fundamentals left at the company, 104 00:04:53,920 --> 00:04:55,800 Speaker 4: and people saw a dip and they chose to buy it. 105 00:04:56,240 --> 00:04:59,560 Speaker 1: Well, you also had an analysis coming out right and 106 00:04:59,600 --> 00:05:03,400 Speaker 1: talking about was it City that talked about it and 107 00:05:03,560 --> 00:05:07,000 Speaker 1: basically said bye on the weakness, And they talked about 108 00:05:07,040 --> 00:05:11,680 Speaker 1: things that like the regulator SEC is not officially cus 109 00:05:11,720 --> 00:05:14,240 Speaker 1: the company wrongdo it, right, So there's some things. 110 00:05:13,960 --> 00:05:16,840 Speaker 4: Innocent until proven guilty. It's an accusation, it's not an allegation. 111 00:05:16,960 --> 00:05:20,520 Speaker 1: Yeah, there's no eight cot K filing, right, So maybe 112 00:05:20,520 --> 00:05:22,599 Speaker 1: the firm does not necessarily view the probe as a 113 00:05:22,600 --> 00:05:24,280 Speaker 1: material risk, right. So that's what we got. 114 00:05:24,200 --> 00:05:27,479 Speaker 3: From City Jordan Fitzeralchi is Bloomberg News Activity supporter, and 115 00:05:27,520 --> 00:05:29,520 Speaker 3: she will also consult with you on the name of 116 00:05:29,560 --> 00:05:30,160 Speaker 3: your company. 117 00:05:30,240 --> 00:05:31,720 Speaker 1: Right app Lovin without a G. 118 00:05:33,720 --> 00:05:37,760 Speaker 2: The Stock Movers report from Bloomberg Radio. 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