Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Jim Stenovic along with Carol Masser. Sounded like I
Speaker 3: was asking a question there, I know. I'm Tim steenavek' Tim,
Speaker 3: I'm Kim stenebec.
Speaker 1: What is it?
Speaker 3: Akerman? Yeah, San Diego, I'm I'm what was it?
Speaker 4: Oh?
Speaker 3: I'm Ron Talia with Talia helped us out. Thank you,
Speaker 3: Thank you, Talia.
Speaker 1: Man Tuesday Brain.
Speaker 3: I'm Tim Stataveg along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. We're joined
Speaker 3: by Bloomberg News Equities reporter Jordan Fitzgerald. She's here with us. Jordan,
Speaker 3: You've got a lot to choose from, starting with Tesla.
Speaker 4: It has not been a boring day. And if there's
Speaker 4: something to say on Tesla, someone on Twitter is certainly
Speaker 4: saying it.
Speaker 3: What are you saying about Tesla?
Speaker 4: Yeah. Tesla closed down about four and a half percent
Speaker 4: today after the company announced these long awaited, allegedly affordable
Speaker 4: versions of its Model Y and Model three cars, and
Speaker 4: it just didn't seem to meet the cut. Investors were
Speaker 4: a bit disappointed by just how little the discount was.
Speaker 4: And they've also cut some features that people expect of Tesla.
Speaker 4: And they had an analyst tell me it's not, you know,
Speaker 4: serving on price, it's not serving on performance. So who
Speaker 4: are these cars for and can they help Tesla's bottom line?
Speaker 3: So interesting. We had a great discussion with Steve Mann
Speaker 3: on our program today. Check it out on our podcast
Speaker 3: feed if you missed it. He's Bloomberg Intelligence autos analyst.
Speaker 3: And my question in was like, Okay, are they selling
Speaker 3: these at cost like Jeff Bezos did with the Kindle
Speaker 3: initially to get people to buy the books, because that's
Speaker 3: high margins, So if you know, are they going to
Speaker 3: be selling the autonomous driver software and stuff? And he said,
Speaker 3: it's not just Tesla love, that's like the ultimate thing.
Speaker 3: Services would be really great for any of these companies.
Speaker 4: Yeah, and Tesla is really just looking for cash to
Speaker 4: fund its broader ambitions. Like Tesla wants to be more
Speaker 4: than an EBAT company. It wants to, you know, build
Speaker 4: robots that you keep in your house. It wants to
Speaker 4: be your go to robo taxi. And in order to
Speaker 4: drop the capital that will not only achieve these goals,
Speaker 4: but by achieving these goals allow Elon Musk to reap
Speaker 4: the full benefits of his trillion dollar pay package that's
Speaker 4: up for vote in November. Tesla really needs the cash
Speaker 4: to fund these projects.
Speaker 1: I just want the boring company to create another big
Speaker 1: hall out to my home just outside New York City
Speaker 1: so that commuting is a little bit easier.
Speaker 3: Yeah, that's not going to happen. We're not going to
Speaker 3: get political here, but there is a thing called the
Speaker 3: Gateway Project. I don't know if you're familiar. Yeah, yeah,
Speaker 3: that funding is not Yeah, okay, so Tesla on your radarf.
Speaker 1: Hey, a girl could dream, she can, she can.
Speaker 4: And that commute leaves a long time for dreaming.
Speaker 1: I know, I know, but you know again, I'm an optimist.
Speaker 1: Ford could use some optimism about the autumn like it
Speaker 1: right now.
Speaker 4: Ford certainly needs a bit of help. So earlier in September,
Speaker 4: there was a fire at an aluminum plant that supplies
Speaker 4: metal to Ford, but it wasn't until The Wall Street
Speaker 4: Journal reported last night that this would actually have a
Speaker 4: pretty significant disruption effect on the company, that the stock
Speaker 4: really took a hit, and so Ford saw it's worst
Speaker 4: day since February.
Speaker 1: Today, it's I.
Speaker 3: Mean, we think about the fragility of supply chains, right,
Speaker 3: this is not this is a Ford story, but it's
Speaker 3: a company that Ford uses. Toyota also uses this company
Speaker 3: as well for raw materials.
Speaker 4: Or Yeah, and on the supply chain, if Ford can't
Speaker 4: make as many cars, that means they're getting fewer supplies
Speaker 4: from other suppliers. So the whole you know, auto supply
Speaker 4: sector was really not happy with that news today.
Speaker 1: I mean, listen. City said it's too soon to cut
Speaker 1: forth quarter North American light vehicle forecast, but that the
Speaker 1: fire could present a supply risk for the period. Slid
Speaker 1: productions also risked to suppliers, according to City, So we're
Speaker 1: gonna have to keep an eye on this one.
Speaker 3: Ford shares falling six point one percent, the most going
Speaker 3: back to February.
Speaker 1: Ford ticker All right, So app Lovin didn't get so
Speaker 1: much love yesterday, but it did today.
Speaker 4: Yes, app Lovin is an interesting case. The stock actually
Speaker 4: had a crazy third quarter. It was almost it over
Speaker 4: doubled in value across the third quarter. And I think
Speaker 4: people were really spooked by this headline yesterday that the
Speaker 4: SEC is probing the company over its data practices, and
Speaker 4: you know, there's a lot of scary words there. You know,
Speaker 4: you never want to hear SEC. You never want to
Speaker 4: hear the word probe. You rarely want to hear the
Speaker 4: word Lovin.
Speaker 2: Out a g and.
Speaker 4: I think the market really took that seriously. But after
Speaker 4: people got arrest.
Speaker 1: Yes, we're not why the SEC is maybe just a
Speaker 1: bit of a just a bit of a personal issue.
Speaker 4: But after people took a step back and remembered that
Speaker 4: app Lovin had this giant surge over the past few months.
Speaker 4: There's actually a lot of strong fundamentals left at the company,
Speaker 4: and people saw a dip and they chose to buy it.
Speaker 1: Well, you also had an analysis coming out right and
Speaker 1: talking about was it City that talked about it and
Speaker 1: basically said bye on the weakness, And they talked about
Speaker 1: things that like the regulator SEC is not officially cus
Speaker 1: the company wrongdo it, right, So there's some things.
Speaker 4: Innocent until proven guilty. It's an accusation, it's not an allegation.
Speaker 1: Yeah, there's no eight cot K filing, right, So maybe
Speaker 1: the firm does not necessarily view the probe as a
Speaker 1: material risk, right. So that's what we got.
Speaker 3: From City Jordan Fitzeralchi is Bloomberg News Activity supporter, and
Speaker 3: she will also consult with you on the name of
Speaker 3: your company.
Speaker 1: Right app Lovin without a G.
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