1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,400 Speaker 1: your roundup of companies making moves in the stock market 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,880 --> 00:00:19,200 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:19,440 --> 00:00:23,520 Speaker 2: I'm Tom Keene with Paul Sweeni Stock Movers, Lisa Montail. 6 00:00:23,840 --> 00:00:25,760 Speaker 3: You got it. We have to start within video, right, 7 00:00:25,800 --> 00:00:28,360 Speaker 3: it's all we've been hearing about. Take your MVDA shares 8 00:00:28,360 --> 00:00:31,800 Speaker 3: have been down nearly two percent. So basically the issue 9 00:00:31,800 --> 00:00:34,400 Speaker 3: is at SoftBank sold its entire stake in Video, pocketing 10 00:00:34,440 --> 00:00:37,080 Speaker 3: about five point eight three billion dollars. So what it's 11 00:00:37,080 --> 00:00:39,400 Speaker 3: showing is that the company needs more money to kind 12 00:00:39,400 --> 00:00:41,440 Speaker 3: of chase these number of projects that it has, right. 13 00:00:41,440 --> 00:00:45,600 Speaker 3: It has storegate data centers, it has Aoai robot manufacturing 14 00:00:45,680 --> 00:00:47,360 Speaker 3: sites in the US that it needs to put its 15 00:00:47,360 --> 00:00:50,159 Speaker 3: money toward. And the company said the sale it has 16 00:00:50,280 --> 00:00:53,120 Speaker 3: nothing to do with it in VideA itself now, But 17 00:00:53,479 --> 00:00:55,840 Speaker 3: it's a timing, right. It happens during this growing debate 18 00:00:55,880 --> 00:00:59,080 Speaker 3: whether you know, spending by these tech firms like Meta 19 00:00:59,120 --> 00:01:02,400 Speaker 3: Alphabeta are going to produce returns. But if you look back, 20 00:01:02,600 --> 00:01:04,959 Speaker 3: it's not the first time Soft Bank sold out of 21 00:01:05,000 --> 00:01:07,360 Speaker 3: in video. We saw back in twenty nineteen. Then it 22 00:01:07,440 --> 00:01:10,600 Speaker 3: started buying back small steaks in twenty twenty, and it 23 00:01:10,680 --> 00:01:14,760 Speaker 3: kept buying. Sofs Bank's portfolio it also includes a lot 24 00:01:14,800 --> 00:01:19,319 Speaker 3: of other AI companies like open Ai, Byteedance, Perplexity AI. 25 00:01:19,600 --> 00:01:21,320 Speaker 3: So they're stocked up, but they need to kind of 26 00:01:21,360 --> 00:01:23,360 Speaker 3: put their money in different places. 27 00:01:23,319 --> 00:01:27,400 Speaker 2: Us to say that, let's stop stuck. The Detroit Lions 28 00:01:27,440 --> 00:01:30,959 Speaker 2: blue button. I'm new, folks, Paul. When you hear Lisa 29 00:01:31,040 --> 00:01:34,280 Speaker 2: say that, how do you interpret OMG in video? It's 30 00:01:34,280 --> 00:01:34,880 Speaker 2: a pullback? 31 00:01:35,160 --> 00:01:37,400 Speaker 1: I don't know. I mean, you know the long term 32 00:01:37,440 --> 00:01:39,400 Speaker 1: trends on AI. I mean we just heard it from 33 00:01:39,440 --> 00:01:42,520 Speaker 1: the earning cycle. We just plead here for the tech companies. 34 00:01:42,520 --> 00:01:44,720 Speaker 2: Boy, they're still spending huge. 35 00:01:44,520 --> 00:01:46,319 Speaker 3: Amounts of money and they showed no signs of slowing. 36 00:01:46,360 --> 00:01:47,760 Speaker 1: So Peak it's gotta be good for them. 37 00:01:47,800 --> 00:01:52,880 Speaker 2: Peak two twelve, yep one nine, Lisa's good story. One 38 00:01:53,000 --> 00:01:56,760 Speaker 2: ninety five. It's cratered down four dollars. Are you ready? 39 00:01:56,800 --> 00:02:00,520 Speaker 2: My long term exponential moving average, it's gone so far, 40 00:02:00,680 --> 00:02:05,120 Speaker 2: so fast, thirty dollars below where we are one hundred 41 00:02:05,120 --> 00:02:09,360 Speaker 2: and sixty two. The thing is incredibly extended in a 42 00:02:09,400 --> 00:02:10,400 Speaker 2: bull market's. 43 00:02:10,120 --> 00:02:14,240 Speaker 1: Four point eight trillion dollars exactly trillion. 44 00:02:14,440 --> 00:02:16,519 Speaker 2: It's shinormous. What do you got next? 45 00:02:16,520 --> 00:02:18,560 Speaker 3: Okay? The next one is data center operated core Weave. 46 00:02:18,600 --> 00:02:20,880 Speaker 3: So we're kind of keeping on this AI theme. C 47 00:02:21,320 --> 00:02:24,079 Speaker 3: RWV Okay shares have been down as much as ten percent. 48 00:02:24,320 --> 00:02:25,960 Speaker 3: Let me give you a little background. So it rents 49 00:02:26,000 --> 00:02:29,000 Speaker 3: out access to AI chips. Right, it's a company that's 50 00:02:29,000 --> 00:02:32,120 Speaker 3: held it's IPO in March, based in livingson New Jersey. 51 00:02:32,200 --> 00:02:36,639 Speaker 3: So they attract yes, investors at livings and diner. Oh awesome, 52 00:02:36,680 --> 00:02:42,400 Speaker 3: great place. Yes, yes, so they yeah, we can do it. 53 00:02:42,800 --> 00:02:45,320 Speaker 3: They have a good breakfast, attracted investors betting on the 54 00:02:45,320 --> 00:02:48,240 Speaker 3: explosion in AI spending. So it's a close partner to 55 00:02:48,280 --> 00:02:48,680 Speaker 3: in video. 56 00:02:48,760 --> 00:02:48,880 Speaker 2: Right. 57 00:02:48,919 --> 00:02:52,080 Speaker 3: It's customers are like open AI and Microsoft. So it 58 00:02:52,240 --> 00:02:55,160 Speaker 3: lowered its annual revenue forecast. It suffered a delay from 59 00:02:55,160 --> 00:02:58,920 Speaker 3: a fulfillingate customer contract. It's CEO said, you know what, 60 00:02:58,960 --> 00:03:01,040 Speaker 3: fourth quarter results are going to reflect it. But the 61 00:03:01,080 --> 00:03:04,120 Speaker 3: client you know, affected by it. He's agreed to adjust 62 00:03:04,120 --> 00:03:07,040 Speaker 3: delivery schedules, so don't worry about it. But it just 63 00:03:07,120 --> 00:03:10,000 Speaker 3: goes to shouts the challenges of meeting this huge, huge 64 00:03:10,040 --> 00:03:12,560 Speaker 3: demand for AI that a lot of these companies are 65 00:03:12,560 --> 00:03:16,600 Speaker 3: having keeping up all right, pretty good. Paramount Sky, yes, okay, 66 00:03:16,600 --> 00:03:19,760 Speaker 3: here we go up here. Psky it shares have been 67 00:03:19,840 --> 00:03:22,480 Speaker 3: up as much as five percent. So it was their 68 00:03:22,520 --> 00:03:24,560 Speaker 3: first report right since a new investor group took over 69 00:03:24,560 --> 00:03:26,840 Speaker 3: the company in August. They raised their target for job 70 00:03:27,280 --> 00:03:30,600 Speaker 3: cost saving measures. Here's what they planned, an additional sixteen 71 00:03:30,680 --> 00:03:33,880 Speaker 3: hundred person workforce reduction, a goal to achieve at least 72 00:03:33,880 --> 00:03:36,720 Speaker 3: three billion in cos cost saving. So what do they 73 00:03:36,760 --> 00:03:39,600 Speaker 3: plan to do with that money, Well, they said about 74 00:03:39,720 --> 00:03:42,080 Speaker 3: one and a half billion in additional twenty twenty six 75 00:03:42,120 --> 00:03:46,320 Speaker 3: spending for Paramount Plus streaming service for the UFC, for 76 00:03:46,440 --> 00:03:50,119 Speaker 3: third party licensing, boosting their film slate. They want to 77 00:03:50,160 --> 00:03:53,360 Speaker 3: release at least fifteen movies per year starting in twenty 78 00:03:53,400 --> 00:03:56,160 Speaker 3: twenty six. So they have these big goals and they 79 00:03:56,160 --> 00:03:58,120 Speaker 3: forecast like thirty billion in revenue next. 80 00:03:58,040 --> 00:04:04,200 Speaker 1: Yearmover's report from Bloomberg Radio. Check back with us throughout 81 00:04:04,200 --> 00:04:07,000 Speaker 1: the day for the latest roundup of companies making news 82 00:04:07,040 --> 00:04:10,360 Speaker 1: on Wall Street and for the latest market moving headlines. 83 00:04:10,560 --> 00:04:14,560 Speaker 1: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 84 00:04:14,600 --> 00:04:17,680 Speaker 1: dot com and on Applecarplay and Android Auto with the 85 00:04:17,720 --> 00:04:19,080 Speaker 1: Bloomberg Business App