WEBVTT - Nvidia Edges Lower; CoreWeave Tumbles; Paramount Skydance Rallies

0:00:02.520 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

0:00:10.240 --> 0:00:13.400
<v Speaker 1>your roundup of companies making moves in the stock market

0:00:13.680 --> 0:00:15.880
<v Speaker 1>harnessing the power of Bloomberg Data.

0:00:16.880 --> 0:00:19.200
<v Speaker 2>Let's take a look at some stocks on the move today.

0:00:19.440 --> 0:00:23.520
<v Speaker 2>I'm Tom Keene with Paul Sweeni Stock Movers, Lisa Montail.

0:00:23.840 --> 0:00:25.760
<v Speaker 3>You got it. We have to start within video, right,

0:00:25.800 --> 0:00:28.360
<v Speaker 3>it's all we've been hearing about. Take your MVDA shares

0:00:28.360 --> 0:00:31.800
<v Speaker 3>have been down nearly two percent. So basically the issue

0:00:31.800 --> 0:00:34.400
<v Speaker 3>is at SoftBank sold its entire stake in Video, pocketing

0:00:34.440 --> 0:00:37.080
<v Speaker 3>about five point eight three billion dollars. So what it's

0:00:37.080 --> 0:00:39.400
<v Speaker 3>showing is that the company needs more money to kind

0:00:39.400 --> 0:00:41.440
<v Speaker 3>of chase these number of projects that it has, right.

0:00:41.440 --> 0:00:45.600
<v Speaker 3>It has storegate data centers, it has Aoai robot manufacturing

0:00:45.680 --> 0:00:47.360
<v Speaker 3>sites in the US that it needs to put its

0:00:47.360 --> 0:00:50.159
<v Speaker 3>money toward. And the company said the sale it has

0:00:50.280 --> 0:00:53.120
<v Speaker 3>nothing to do with it in VideA itself now, But

0:00:53.479 --> 0:00:55.840
<v Speaker 3>it's a timing, right. It happens during this growing debate

0:00:55.880 --> 0:00:59.080
<v Speaker 3>whether you know, spending by these tech firms like Meta

0:00:59.120 --> 0:01:02.400
<v Speaker 3>Alphabeta are going to produce returns. But if you look back,

0:01:02.600 --> 0:01:04.959
<v Speaker 3>it's not the first time Soft Bank sold out of

0:01:05.000 --> 0:01:07.360
<v Speaker 3>in video. We saw back in twenty nineteen. Then it

0:01:07.440 --> 0:01:10.600
<v Speaker 3>started buying back small steaks in twenty twenty, and it

0:01:10.680 --> 0:01:14.760
<v Speaker 3>kept buying. Sofs Bank's portfolio it also includes a lot

0:01:14.800 --> 0:01:19.319
<v Speaker 3>of other AI companies like open Ai, Byteedance, Perplexity AI.

0:01:19.600 --> 0:01:21.320
<v Speaker 3>So they're stocked up, but they need to kind of

0:01:21.360 --> 0:01:23.360
<v Speaker 3>put their money in different places.

0:01:23.319 --> 0:01:27.400
<v Speaker 2>Us to say that, let's stop stuck. The Detroit Lions

0:01:27.440 --> 0:01:30.959
<v Speaker 2>blue button. I'm new, folks, Paul. When you hear Lisa

0:01:31.040 --> 0:01:34.280
<v Speaker 2>say that, how do you interpret OMG in video? It's

0:01:34.280 --> 0:01:34.880
<v Speaker 2>a pullback?

0:01:35.160 --> 0:01:37.400
<v Speaker 1>I don't know. I mean, you know the long term

0:01:37.440 --> 0:01:39.400
<v Speaker 1>trends on AI. I mean we just heard it from

0:01:39.440 --> 0:01:42.520
<v Speaker 1>the earning cycle. We just plead here for the tech companies.

0:01:42.520 --> 0:01:44.720
<v Speaker 2>Boy, they're still spending huge.

0:01:44.520 --> 0:01:46.319
<v Speaker 3>Amounts of money and they showed no signs of slowing.

0:01:46.360 --> 0:01:47.760
<v Speaker 1>So Peak it's gotta be good for them.

0:01:47.800 --> 0:01:52.880
<v Speaker 2>Peak two twelve, yep one nine, Lisa's good story. One

0:01:53.000 --> 0:01:56.760
<v Speaker 2>ninety five. It's cratered down four dollars. Are you ready?

0:01:56.800 --> 0:02:00.520
<v Speaker 2>My long term exponential moving average, it's gone so far,

0:02:00.680 --> 0:02:05.120
<v Speaker 2>so fast, thirty dollars below where we are one hundred

0:02:05.120 --> 0:02:09.360
<v Speaker 2>and sixty two. The thing is incredibly extended in a

0:02:09.400 --> 0:02:10.400
<v Speaker 2>bull market's.

0:02:10.120 --> 0:02:14.240
<v Speaker 1>Four point eight trillion dollars exactly trillion.

0:02:14.440 --> 0:02:16.519
<v Speaker 2>It's shinormous. What do you got next?

0:02:16.520 --> 0:02:18.560
<v Speaker 3>Okay? The next one is data center operated core Weave.

0:02:18.600 --> 0:02:20.880
<v Speaker 3>So we're kind of keeping on this AI theme. C

0:02:21.320 --> 0:02:24.079
<v Speaker 3>RWV Okay shares have been down as much as ten percent.

0:02:24.320 --> 0:02:25.960
<v Speaker 3>Let me give you a little background. So it rents

0:02:26.000 --> 0:02:29.000
<v Speaker 3>out access to AI chips. Right, it's a company that's

0:02:29.000 --> 0:02:32.120
<v Speaker 3>held it's IPO in March, based in livingson New Jersey.

0:02:32.200 --> 0:02:36.639
<v Speaker 3>So they attract yes, investors at livings and diner. Oh awesome,

0:02:36.680 --> 0:02:42.400
<v Speaker 3>great place. Yes, yes, so they yeah, we can do it.

0:02:42.800 --> 0:02:45.320
<v Speaker 3>They have a good breakfast, attracted investors betting on the

0:02:45.320 --> 0:02:48.240
<v Speaker 3>explosion in AI spending. So it's a close partner to

0:02:48.280 --> 0:02:48.680
<v Speaker 3>in video.

0:02:48.760 --> 0:02:48.880
<v Speaker 2>Right.

0:02:48.919 --> 0:02:52.080
<v Speaker 3>It's customers are like open AI and Microsoft. So it

0:02:52.240 --> 0:02:55.160
<v Speaker 3>lowered its annual revenue forecast. It suffered a delay from

0:02:55.160 --> 0:02:58.920
<v Speaker 3>a fulfillingate customer contract. It's CEO said, you know what,

0:02:58.960 --> 0:03:01.040
<v Speaker 3>fourth quarter results are going to reflect it. But the

0:03:01.080 --> 0:03:04.120
<v Speaker 3>client you know, affected by it. He's agreed to adjust

0:03:04.120 --> 0:03:07.040
<v Speaker 3>delivery schedules, so don't worry about it. But it just

0:03:07.120 --> 0:03:10.000
<v Speaker 3>goes to shouts the challenges of meeting this huge, huge

0:03:10.040 --> 0:03:12.560
<v Speaker 3>demand for AI that a lot of these companies are

0:03:12.560 --> 0:03:16.600
<v Speaker 3>having keeping up all right, pretty good. Paramount Sky, yes, okay,

0:03:16.600 --> 0:03:19.760
<v Speaker 3>here we go up here. Psky it shares have been

0:03:19.840 --> 0:03:22.480
<v Speaker 3>up as much as five percent. So it was their

0:03:22.520 --> 0:03:24.560
<v Speaker 3>first report right since a new investor group took over

0:03:24.560 --> 0:03:26.840
<v Speaker 3>the company in August. They raised their target for job

0:03:27.280 --> 0:03:30.600
<v Speaker 3>cost saving measures. Here's what they planned, an additional sixteen

0:03:30.680 --> 0:03:33.880
<v Speaker 3>hundred person workforce reduction, a goal to achieve at least

0:03:33.880 --> 0:03:36.720
<v Speaker 3>three billion in cos cost saving. So what do they

0:03:36.760 --> 0:03:39.600
<v Speaker 3>plan to do with that money, Well, they said about

0:03:39.720 --> 0:03:42.080
<v Speaker 3>one and a half billion in additional twenty twenty six

0:03:42.120 --> 0:03:46.320
<v Speaker 3>spending for Paramount Plus streaming service for the UFC, for

0:03:46.440 --> 0:03:50.119
<v Speaker 3>third party licensing, boosting their film slate. They want to

0:03:50.160 --> 0:03:53.360
<v Speaker 3>release at least fifteen movies per year starting in twenty

0:03:53.400 --> 0:03:56.160
<v Speaker 3>twenty six. So they have these big goals and they

0:03:56.160 --> 0:03:58.120
<v Speaker 3>forecast like thirty billion in revenue next.

0:03:58.040 --> 0:04:04.200
<v Speaker 1>Yearmover's report from Bloomberg Radio. Check back with us throughout

0:04:04.200 --> 0:04:07.000
<v Speaker 1>the day for the latest roundup of companies making news

0:04:07.040 --> 0:04:10.360
<v Speaker 1>on Wall Street and for the latest market moving headlines.

0:04:10.560 --> 0:04:14.560
<v Speaker 1>Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

0:04:14.600 --> 0:04:17.680
<v Speaker 1>dot com and on Applecarplay and Android Auto with the

0:04:17.720 --> 0:04:19.080
<v Speaker 1>Bloomberg Business App