Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Tom Keene with Paul Sweeni Stock Movers, Lisa Montail.
Speaker 3: You got it. We have to start within video, right,
Speaker 3: it's all we've been hearing about. Take your MVDA shares
Speaker 3: have been down nearly two percent. So basically the issue
Speaker 3: is at SoftBank sold its entire stake in Video, pocketing
Speaker 3: about five point eight three billion dollars. So what it's
Speaker 3: showing is that the company needs more money to kind
Speaker 3: of chase these number of projects that it has, right.
Speaker 3: It has storegate data centers, it has Aoai robot manufacturing
Speaker 3: sites in the US that it needs to put its
Speaker 3: money toward. And the company said the sale it has
Speaker 3: nothing to do with it in VideA itself now, But
Speaker 3: it's a timing, right. It happens during this growing debate
Speaker 3: whether you know, spending by these tech firms like Meta
Speaker 3: Alphabeta are going to produce returns. But if you look back,
Speaker 3: it's not the first time Soft Bank sold out of
Speaker 3: in video. We saw back in twenty nineteen. Then it
Speaker 3: started buying back small steaks in twenty twenty, and it
Speaker 3: kept buying. Sofs Bank's portfolio it also includes a lot
Speaker 3: of other AI companies like open Ai, Byteedance, Perplexity AI.
Speaker 3: So they're stocked up, but they need to kind of
Speaker 3: put their money in different places.
Speaker 2: Us to say that, let's stop stuck. The Detroit Lions
Speaker 2: blue button. I'm new, folks, Paul. When you hear Lisa
Speaker 2: say that, how do you interpret OMG in video? It's
Speaker 2: a pullback?
Speaker 1: I don't know. I mean, you know the long term
Speaker 1: trends on AI. I mean we just heard it from
Speaker 1: the earning cycle. We just plead here for the tech companies.
Speaker 2: Boy, they're still spending huge.
Speaker 3: Amounts of money and they showed no signs of slowing.
Speaker 1: So Peak it's gotta be good for them.
Speaker 2: Peak two twelve, yep one nine, Lisa's good story. One
Speaker 2: ninety five. It's cratered down four dollars. Are you ready?
Speaker 2: My long term exponential moving average, it's gone so far,
Speaker 2: so fast, thirty dollars below where we are one hundred
Speaker 2: and sixty two. The thing is incredibly extended in a
Speaker 2: bull market's.
Speaker 1: Four point eight trillion dollars exactly trillion.
Speaker 2: It's shinormous. What do you got next?
Speaker 3: Okay? The next one is data center operated core Weave.
Speaker 3: So we're kind of keeping on this AI theme. C
Speaker 3: RWV Okay shares have been down as much as ten percent.
Speaker 3: Let me give you a little background. So it rents
Speaker 3: out access to AI chips. Right, it's a company that's
Speaker 3: held it's IPO in March, based in livingson New Jersey.
Speaker 3: So they attract yes, investors at livings and diner. Oh awesome,
Speaker 3: great place. Yes, yes, so they yeah, we can do it.
Speaker 3: They have a good breakfast, attracted investors betting on the
Speaker 3: explosion in AI spending. So it's a close partner to
Speaker 3: in video.
Speaker 2: Right.
Speaker 3: It's customers are like open AI and Microsoft. So it
Speaker 3: lowered its annual revenue forecast. It suffered a delay from
Speaker 3: a fulfillingate customer contract. It's CEO said, you know what,
Speaker 3: fourth quarter results are going to reflect it. But the
Speaker 3: client you know, affected by it. He's agreed to adjust
Speaker 3: delivery schedules, so don't worry about it. But it just
Speaker 3: goes to shouts the challenges of meeting this huge, huge
Speaker 3: demand for AI that a lot of these companies are
Speaker 3: having keeping up all right, pretty good. Paramount Sky, yes, okay,
Speaker 3: here we go up here. Psky it shares have been
Speaker 3: up as much as five percent. So it was their
Speaker 3: first report right since a new investor group took over
Speaker 3: the company in August. They raised their target for job
Speaker 3: cost saving measures. Here's what they planned, an additional sixteen
Speaker 3: hundred person workforce reduction, a goal to achieve at least
Speaker 3: three billion in cos cost saving. So what do they
Speaker 3: plan to do with that money, Well, they said about
Speaker 3: one and a half billion in additional twenty twenty six
Speaker 3: spending for Paramount Plus streaming service for the UFC, for
Speaker 3: third party licensing, boosting their film slate. They want to
Speaker 3: release at least fifteen movies per year starting in twenty
Speaker 3: twenty six. So they have these big goals and they
Speaker 3: forecast like thirty billion in revenue next.
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