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Speaker 1: Bloomberg Audio Studios, podcasts, radio News.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Let's take a look at some stocks on the move today.

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Speaker 3: I'm Tim Stenebeck along with Carol Masser, and we are

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Speaker 3: talking about companies moving big in the after hours. Carol,

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Speaker 3: let's start with Apple.

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Speaker 1: Let's start with Apple. This was a little bit of

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Speaker 1: a disappointment when we look at what the stock is

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Speaker 1: doing in the after hours, under some pressure as soon

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Speaker 1: as earnings came out to be fair. So that's stock

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Speaker 1: down right now about four point seven percent here in

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Speaker 1: the aftermarket. There was some disappointment about two parts of

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Speaker 1: the company's business that's really important to it. Sales growing

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Speaker 1: slower than anticipated in China its services businesses last quarter

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Speaker 1: also was disappointing, sparking some concerns about what are two

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Speaker 1: key markets for the company. So services revenue was thirty

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Speaker 1: points seven billion, compared with a thirty one point four

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Speaker 1: billion dollar projection. China sales amounted to eighteen point eight billion,

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Speaker 1: well short of a nineteen point six billion estimated by analysts.

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Speaker 1: Keep in mind, coming into this print. Apple has been

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Speaker 1: really outperforming when it comes to some of the other

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Speaker 1: mag seven up more than what twenty percent or so

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Speaker 1: this year.

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Speaker 3: Yeah, the best performing of the mag seven. It's Tim

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Speaker 3: Cook's last earnings report as CEO. A lot of questions

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Speaker 3: remain about the memory chip shortage and what Apple is

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Speaker 3: going to do and how Apple's navigating that apart from

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Speaker 3: those higher prices. Okay, let's go to Amazon shares in

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Speaker 3: the after hours of Amazon ticker am ZN up by

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Speaker 3: seven point eight percent, bouncing around a little bit as

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Speaker 3: we're recording this. Amazon Web Services revenue jump thirty seven

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Speaker 3: percent to forty two point two billion dollars. It's the

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Speaker 3: fastest pace of growth since the fourth quarter of twenty

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Speaker 3: twenty one. The company reported spending more than fifty three

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Speaker 3: billion dollars on property and equipment, sending free cash flow negative,

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Speaker 3: with an outflow of seven point six billion dollars for

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Speaker 3: the trailing twelve months. Amazon shares rising about seven percent

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Speaker 3: in extended trading. Total revenue increased twenty percent to two

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Speaker 3: hundred point six billion dollars, both AI and its chips

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Speaker 3: business reaching separately new milestones of twenty five billion dollars

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Speaker 3: in annual run.

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Speaker 1: Rates fifty three billion dollars in property and equipment, the

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Speaker 1: capex continuing, and again like the narrative around some of

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Speaker 1: these names, when it comes to free cash flow, for Amazon,

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Speaker 1: free cash flow negative. An alflow of seven point six

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Speaker 1: billion for the trailing twelve months. Just a little flex

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Speaker 1: from Apple, just going back to that kind of emphasizing.

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Speaker 1: It's i think operating cash flow specifically, not like we're

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Speaker 1: seeing from some of these other hyperscalers. It's not negative.

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Speaker 1: It's a lot of a much more positive number.

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Speaker 3: All right.

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Speaker 1: Let's go to Rivian. That one also moving in the

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Speaker 1: after hours about two percent round.

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Speaker 3: Right, Yeah, up about two percent right now, But it

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Speaker 3: was lower just before. As those numbers came out, the

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Speaker 3: company narrowed its loss while rolling out this lower cost

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Speaker 3: ev mind better than expected earnings. It began deliveries of

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Speaker 3: this new mid size suv. It's a positive sign, Carol,

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Speaker 3: while the company contends with a weekend market for evs

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Speaker 3: in the US.

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Speaker 1: Yeah, very interesting, right in terms of what they're trying

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Speaker 1: to do. They've been having a bit of a tough time,

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Speaker 1: to say the least, so watching this one move.

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Speaker 3: Yeah, the companies just lost before interest, taxes, depreciation, and

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Speaker 3: amortization was three hundred and seventy nine million dollars in

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Speaker 3: the second quarter, down for about six hundred and sixty

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Speaker 3: seven million dollars a year ago. Its revenue did top estimates.

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Speaker 3: Rivian working to reign and costs and revamp production while

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Speaker 3: rolling out that new model. It's the lower cost R

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Speaker 3: two line. The company's betting can help it capture greater

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Speaker 3: share of the market for evs. But the big story

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Speaker 3: with EV's no matter who makes these evs in the US,

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Speaker 3: it's been under pressure, whether you're Tesla, Rivian, GM or others.

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Speaker 2: This stock Movers report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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