WEBVTT - Nokia Skyrockets on Nvidia Deal, D.R. Horton Falls

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.239
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.360 --> 0:00:18.880
<v Speaker 3>I'm Jim Stenebeck along with Carol Masser. Let's take a

0:00:18.880 --> 0:00:21.120
<v Speaker 3>look at some stocks on the move today. We're joined

0:00:21.120 --> 0:00:26.119
<v Speaker 3>by Bloomberg Television Markets correspondent Nora Melinda Noura. There is

0:00:26.160 --> 0:00:27.520
<v Speaker 3>a lot moving in the afternow.

0:00:27.520 --> 0:00:29.800
<v Speaker 4>Oh, I had so many to choose from today, very

0:00:29.960 --> 0:00:32.239
<v Speaker 4>nice and a lot of them actually being in the

0:00:32.240 --> 0:00:35.280
<v Speaker 4>tech space. I'm looking at shares of Nokia. They ended

0:00:35.360 --> 0:00:38.320
<v Speaker 4>up about twenty two percent. This is the ADRs ticker

0:00:38.400 --> 0:00:41.200
<v Speaker 4>in Okay, the best place since twenty twenty one. Of course,

0:00:41.240 --> 0:00:43.959
<v Speaker 4>we know the stock was earlier halted for volatility. This

0:00:44.000 --> 0:00:46.479
<v Speaker 4>is after the announcement that in Vidia will be investing

0:00:46.560 --> 0:00:49.559
<v Speaker 4>one billion dollars in the company. Of course, this is

0:00:49.560 --> 0:00:52.640
<v Speaker 4>all in a push toward AI networking here and this

0:00:52.680 --> 0:00:56.120
<v Speaker 4>would give Nvidia a two point nine percent stake here

0:00:56.200 --> 0:00:59.240
<v Speaker 4>in the company. But you definitely are seeing these shares

0:00:59.360 --> 0:01:02.680
<v Speaker 4>ending higher and in video up about four point nine

0:01:02.800 --> 0:01:03.880
<v Speaker 4>percent to end the day.

0:01:04.080 --> 0:01:07.360
<v Speaker 1>Yeah, you definitely saw, I mean Nokia, the ADRs during

0:01:07.400 --> 0:01:10.240
<v Speaker 1>the day when the news hit, like stop trading because

0:01:10.240 --> 0:01:12.039
<v Speaker 1>we were waiting for that news to come out and

0:01:12.040 --> 0:01:15.319
<v Speaker 1>then just shut up like a rocket. Let's go to

0:01:15.480 --> 0:01:17.920
<v Speaker 1>one of the homebuilders that also reported results.

0:01:18.040 --> 0:01:21.080
<v Speaker 4>Yes, not a pretty look here. So we did see

0:01:21.120 --> 0:01:24.279
<v Speaker 4>shares that ended down three point two percent for Dr Horton.

0:01:24.600 --> 0:01:28.240
<v Speaker 4>That's tack your DHI. This is after incentives or really

0:01:28.280 --> 0:01:30.880
<v Speaker 4>pressuring margin margins. As we know a lot of the

0:01:30.880 --> 0:01:33.600
<v Speaker 4>incentives in the home building space tend to be whether

0:01:33.640 --> 0:01:36.520
<v Speaker 4>it's a rate buy down, making sure that the customer

0:01:36.600 --> 0:01:38.760
<v Speaker 4>has a rate that's about maybe one percent or a

0:01:38.760 --> 0:01:41.520
<v Speaker 4>half percentage point below what the general market rate is,

0:01:41.880 --> 0:01:44.360
<v Speaker 4>or throwing in just some random incentives like a dishwasher

0:01:44.400 --> 0:01:48.240
<v Speaker 4>things to make it a bit more appealing here for customers.

0:01:48.400 --> 0:01:50.920
<v Speaker 4>But it seems as though this is all pressuring margins

0:01:50.920 --> 0:01:53.280
<v Speaker 4>here for the company. And we did see S one

0:01:53.280 --> 0:01:56.160
<v Speaker 4>to five home, which is the index at tracks all

0:01:56.160 --> 0:01:59.240
<v Speaker 4>home builders more broadly, also falling on the day down

0:01:59.280 --> 0:02:00.000
<v Speaker 4>about one person.

0:02:00.240 --> 0:02:02.040
<v Speaker 3>I mean, Nora just has a love for home buildings.

0:02:02.360 --> 0:02:02.600
<v Speaker 2>I do.

0:02:02.720 --> 0:02:03.680
<v Speaker 4>I can't escape it.

0:02:03.760 --> 0:02:06.280
<v Speaker 3>It's your DNA. That's what you covered before your Bloomberg

0:02:06.320 --> 0:02:11.240
<v Speaker 3>Markets television correspondent bloom Television Markets. Correspondent, excuse me, okay,

0:02:11.520 --> 0:02:12.720
<v Speaker 3>let's go to some more high tech.

0:02:12.880 --> 0:02:16.040
<v Speaker 4>Yes, more high tech in focus. I'm keeping eyes on Corvo.

0:02:16.120 --> 0:02:20.320
<v Speaker 4>That's Sticker Qvro and this is a thought that ended

0:02:20.360 --> 0:02:23.200
<v Speaker 4>at its best day since April and its highest level

0:02:23.200 --> 0:02:25.840
<v Speaker 4>in over a year. We did see shares up about

0:02:25.840 --> 0:02:29.800
<v Speaker 4>five point seven percent. This is after Apple essentially is

0:02:29.840 --> 0:02:31.799
<v Speaker 4>saying that they want to really invest in their own

0:02:31.840 --> 0:02:36.200
<v Speaker 4>homegrown chips, and so you are seeing Corvo in a competitor,

0:02:36.240 --> 0:02:39.320
<v Speaker 4>Skyworks Solutions, actually merging as they're trying to seek out

0:02:39.360 --> 0:02:43.440
<v Speaker 4>certain opportunities for themselves to really benefit in this space.

0:02:43.600 --> 0:02:46.720
<v Speaker 4>This would be a combination of about twenty two billion

0:02:46.760 --> 0:02:49.440
<v Speaker 4>dollars here in value for these two companies here to

0:02:49.480 --> 0:02:50.079
<v Speaker 4>be combined.

0:02:50.200 --> 0:02:52.080
<v Speaker 1>The stock has been on a tear this year.

0:02:52.280 --> 0:02:57.400
<v Speaker 4>Corvo absolutely about crazy. Yeah, yeah, I'm really seeing some

0:02:57.440 --> 0:02:58.320
<v Speaker 4>strong gains here.

0:02:58.520 --> 0:03:01.000
<v Speaker 3>Do we have time for any an a special guest,

0:03:02.120 --> 0:03:02.680
<v Speaker 3>Let's do it.

0:03:02.760 --> 0:03:03.359
<v Speaker 1>Let's do it.

0:03:03.639 --> 0:03:07.320
<v Speaker 4>Looking at shares of PayPal, this is ticker pypl up

0:03:07.360 --> 0:03:09.640
<v Speaker 4>on the day, up about three point nine percent, and

0:03:09.720 --> 0:03:12.440
<v Speaker 4>this is after it raised its full year earnings guidance.

0:03:12.760 --> 0:03:14.280
<v Speaker 4>But they did talk about the fact that they are

0:03:14.320 --> 0:03:18.519
<v Speaker 4>seeing a pullback and particularly in terms of consumer spending here,

0:03:18.560 --> 0:03:20.120
<v Speaker 4>so that's not been that they noted. But of course

0:03:20.160 --> 0:03:23.079
<v Speaker 4>the headline here was the open ai deal. They're going

0:03:23.120 --> 0:03:27.280
<v Speaker 4>to be embedding PayPal. It's into its wallet into Chat GPT,

0:03:27.400 --> 0:03:30.360
<v Speaker 4>so PayPal's while to be embedded into Chat GPT, and

0:03:30.400 --> 0:03:33.120
<v Speaker 4>you really are seeing the street really clearly taking a

0:03:33.120 --> 0:03:35.240
<v Speaker 4>liking to this. It seems like open ai is striking

0:03:35.560 --> 0:03:37.160
<v Speaker 4>a lot of deals as of late.

0:03:37.120 --> 0:03:39.520
<v Speaker 1>All over the place, like kind of crazy crazy crazy,

0:03:40.160 --> 0:03:42.480
<v Speaker 1>good stuck. Thank you as always, we appreciate it. Boberg

0:03:42.480 --> 0:03:45.880
<v Speaker 1>TV Markets correspondent Nora Melinda joining us here with some

0:03:45.960 --> 0:03:48.680
<v Speaker 1>of the stocks on the move.

0:03:48.400 --> 0:03:52.440
<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

0:03:52.520 --> 0:03:55.040
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:55.160 --> 0:03:58.240
<v Speaker 2>making news on Wall Street and for the latest market

0:03:58.280 --> 0:04:02.720
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:02.840 --> 0:04:06.320
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:06.400 --> 0:04:07.880
<v Speaker 2>the Bloomberg Business app.