1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,600 --> 00:00:16,560 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,800 --> 00:00:23,200 Speaker 2: with Carol Masser, Tim Stenebeck, Romain, Bostick, and Scarlet Food most. 5 00:00:23,000 --> 00:00:25,320 Speaker 3: Names in the index today gaining ground four hundred and 6 00:00:25,360 --> 00:00:28,040 Speaker 3: thirty six to thepside, only sixty four losing ground. 7 00:00:28,240 --> 00:00:30,240 Speaker 4: Similar story when you take a look at the sector 8 00:00:30,320 --> 00:00:33,199 Speaker 4: level as well, almost a perfect score ten of eleven 9 00:00:33,720 --> 00:00:36,360 Speaker 4: in the green, and you can see that circle is 10 00:00:36,640 --> 00:00:40,840 Speaker 4: incredibly green. Leading gains today. Materials the sector we don't 11 00:00:40,880 --> 00:00:43,279 Speaker 4: often see at the top of the leaderboard, but Dow 12 00:00:43,360 --> 00:00:46,720 Speaker 4: Chemical in particular had a good day. Healthcare consumer discretionary 13 00:00:46,840 --> 00:00:51,040 Speaker 4: also pick up there your lone loser, Energy, but even 14 00:00:51,080 --> 00:00:52,400 Speaker 4: that barely in the red. 15 00:00:52,880 --> 00:00:54,760 Speaker 5: Before we get to the gainer's end decliners on the day, 16 00:00:54,760 --> 00:00:56,200 Speaker 5: I'll let you start with a big gainer and that 17 00:00:56,280 --> 00:00:58,600 Speaker 5: was Rent the runway of thirty percent, popping the shares, 18 00:00:58,760 --> 00:01:01,480 Speaker 5: but that's now moving low. We're in the after hours trade. 19 00:01:01,560 --> 00:01:04,800 Speaker 5: The company reporting revenue for the most recent quarter of 20 00:01:04,840 --> 00:01:08,080 Speaker 5: about eighty point nine million dollars and a loss per 21 00:01:08,080 --> 00:01:09,400 Speaker 5: share of about six dollars. 22 00:01:09,400 --> 00:01:10,520 Speaker 1: And fifty five cents. 23 00:01:10,600 --> 00:01:12,959 Speaker 5: I need to get you some comparisons here, but we 24 00:01:12,959 --> 00:01:15,399 Speaker 5: should point out the our providing guidance for the current 25 00:01:15,480 --> 00:01:17,720 Speaker 5: quarter of eighty two to eighty four million, which looks 26 00:01:17,720 --> 00:01:19,679 Speaker 5: like it might be just a tad bit light than 27 00:01:19,680 --> 00:01:21,400 Speaker 5: what the street was looking for. The share is pulling 28 00:01:21,480 --> 00:01:24,160 Speaker 5: back just about five percent here in the after hour session. 29 00:01:23,920 --> 00:01:26,600 Speaker 3: Right, but as you said, a gain of thirty percent 30 00:01:26,640 --> 00:01:29,720 Speaker 3: in the regular session, So quite quite a different tone here. Hey, 31 00:01:29,720 --> 00:01:31,440 Speaker 3: I'm going to get to some of the individual gainers. 32 00:01:31,440 --> 00:01:33,920 Speaker 3: Got to talk about Warner Brothers Discovery. Guys up as 33 00:01:34,000 --> 00:01:37,039 Speaker 3: much as thirty seven percent, popping on the news that 34 00:01:37,160 --> 00:01:39,520 Speaker 3: Paramount sky Dance said to be getting ready for a 35 00:01:39,800 --> 00:01:44,160 Speaker 3: bid to buy Warner Brothers Discovery mostly cash offer our 36 00:01:44,240 --> 00:01:48,280 Speaker 3: Lucas Shaw and also Wall Street Journal pointing this out initially. 37 00:01:48,360 --> 00:01:50,400 Speaker 3: So this is your number one gainer in the s 38 00:01:50,440 --> 00:01:53,440 Speaker 3: and P five hundred, so some outperformance there. Finishing the 39 00:01:53,480 --> 00:01:55,920 Speaker 3: day Warner Brothers Discovery with a gain of just shy 40 00:01:55,960 --> 00:01:59,600 Speaker 3: of twenty nine percent. Another top gainer in the major 41 00:01:59,600 --> 00:02:03,600 Speaker 3: industry today synopsis, This one a gain of almost thirteen 42 00:02:03,680 --> 00:02:07,240 Speaker 3: percent up for seventh day rallying after City and Miller 43 00:02:07,280 --> 00:02:10,799 Speaker 3: Tayback highlighted potential upside. Oh forgive me, let me go 44 00:02:10,919 --> 00:02:13,120 Speaker 3: back to synopsis top gainering the S and P five 45 00:02:13,200 --> 00:02:15,160 Speaker 3: hundred got a lot of crazy notes because things are 46 00:02:15,160 --> 00:02:15,959 Speaker 3: moving around today. 47 00:02:16,600 --> 00:02:18,720 Speaker 1: This Apple just goant to shake the sand off off. 48 00:02:20,160 --> 00:02:22,800 Speaker 3: Out of my brain too. Application software company. It did 49 00:02:22,880 --> 00:02:25,880 Speaker 3: drop nearly thirty six percent in yesterday's session, that was 50 00:02:25,919 --> 00:02:28,720 Speaker 3: its worst single day decline on record due to US 51 00:02:28,720 --> 00:02:31,760 Speaker 3: export restrictions contributing to a slow down in China. So 52 00:02:31,919 --> 00:02:35,040 Speaker 3: investors coming back into this name today again up about 53 00:02:35,080 --> 00:02:38,880 Speaker 3: thirteen percent, and then this one Micron Technology ralling about 54 00:02:38,919 --> 00:02:41,160 Speaker 3: seven and a half percent again and outperformer in those 55 00:02:41,200 --> 00:02:44,880 Speaker 3: major indices. City and Miller Tayback highlighting potential upside when 56 00:02:44,880 --> 00:02:48,680 Speaker 3: the company reports earnings on September twenty third day, taut 57 00:02:48,720 --> 00:02:51,760 Speaker 3: of the chipmaker's growth potential in the data center market, 58 00:02:51,840 --> 00:02:55,440 Speaker 3: where AI services have stoked demand. We know that story. City, 59 00:02:55,480 --> 00:02:57,320 Speaker 3: by the way boosted its price target team to one 60 00:02:57,360 --> 00:03:00,320 Speaker 3: seventy five from one fifty, saying the company would guide 61 00:03:00,320 --> 00:03:02,320 Speaker 3: well above consensus when it reports on SIPTIMS. 62 00:03:02,360 --> 00:03:03,760 Speaker 1: Just real quickly too, honorable mentions. 63 00:03:03,760 --> 00:03:06,400 Speaker 5: I just want to point out Figure Technology the fintech 64 00:03:06,680 --> 00:03:09,080 Speaker 5: going public today, had a great day on the street, 65 00:03:09,160 --> 00:03:11,359 Speaker 5: up twenty four percent. And how about open Door, Tim, 66 00:03:11,400 --> 00:03:13,840 Speaker 5: I know you've been following that. It's still a relatively 67 00:03:13,880 --> 00:03:16,240 Speaker 5: small stock, but the founders are returning to the board 68 00:03:16,240 --> 00:03:17,919 Speaker 5: here seventy percent popping the stock today. 69 00:03:18,000 --> 00:03:19,640 Speaker 3: And I just say, this is why my paper was 70 00:03:19,639 --> 00:03:21,880 Speaker 3: a mess. I had open Door and I had Figure 71 00:03:22,080 --> 00:03:23,959 Speaker 3: and then I had to cross him out because. 72 00:03:23,800 --> 00:03:24,960 Speaker 1: No excuses on this show. 73 00:03:25,960 --> 00:03:29,000 Speaker 6: Anyways, you got you got to make the choices right now. 74 00:03:29,000 --> 00:03:30,600 Speaker 1: It's hard sometimes. 75 00:03:30,240 --> 00:03:33,440 Speaker 6: That's okay on the decliner's side. Easy picks for the 76 00:03:33,440 --> 00:03:35,480 Speaker 6: worst performers in the S and P five hundred to day, 77 00:03:35,480 --> 00:03:39,280 Speaker 6: Oracle and Netflix among them. Oracle down six point two percent. 78 00:03:39,880 --> 00:03:42,280 Speaker 6: You know what, yesterday was its best day since nineteen 79 00:03:42,320 --> 00:03:45,280 Speaker 6: ninety two, up thirty six percent. In fact, just since 80 00:03:45,320 --> 00:03:48,560 Speaker 6: those earnings on September ninth, two days ago, analysts race 81 00:03:48,640 --> 00:03:52,000 Speaker 6: price targets twenty three analyst race price targets by an 82 00:03:52,040 --> 00:03:55,560 Speaker 6: average of thirty five percent. Still up eighty six percent 83 00:03:55,800 --> 00:03:58,440 Speaker 6: so far this year. Not really putting a dent into 84 00:03:58,840 --> 00:04:02,280 Speaker 6: this performance yesterday and this year. But the worst performer 85 00:04:02,320 --> 00:04:05,360 Speaker 6: in the S ANDP down six point two percent Netflix. 86 00:04:05,760 --> 00:04:10,320 Speaker 6: Carol mentioned the paramount's guidance Warner Brothers Discovery per potential 87 00:04:10,680 --> 00:04:13,960 Speaker 6: marriage watching Netflix in the wake of that, because Netflix 88 00:04:13,960 --> 00:04:16,640 Speaker 6: and YouTube and just streaming in general are a major 89 00:04:16,720 --> 00:04:19,480 Speaker 6: driving force and spinoffs and consolidation that we are seeing 90 00:04:19,800 --> 00:04:22,760 Speaker 6: in the media industry. Essentially, this would be a better 91 00:04:22,800 --> 00:04:25,360 Speaker 6: take on the streamers. Netflix taking a hit as a result, 92 00:04:25,400 --> 00:04:28,000 Speaker 6: shares did move lower after the Wall Street Journal did 93 00:04:28,040 --> 00:04:31,920 Speaker 6: report this out. Netflix down three point five percent today 94 00:04:32,240 --> 00:04:35,200 Speaker 6: and finally Delta Airlines taking a little bit of a 95 00:04:35,279 --> 00:04:39,039 Speaker 6: hit on the day today. This as the company. This 96 00:04:39,120 --> 00:04:41,719 Speaker 6: as the company said that the front of the cabin 97 00:04:41,960 --> 00:04:44,919 Speaker 6: is performing well but still seeing some laggards when it 98 00:04:44,960 --> 00:04:45,560 Speaker 6: comes to the. 99 00:04:45,520 --> 00:04:47,800 Speaker 1: Main part of the cabin. Remain a big after hours mover. 100 00:04:47,920 --> 00:04:50,720 Speaker 5: Right now is Adobe that company out with earnings the 101 00:04:50,800 --> 00:04:53,440 Speaker 5: shares The knee jerk reaction is to the upside. The 102 00:04:53,440 --> 00:04:56,279 Speaker 5: company is saying that in the most recent quarter, revenue 103 00:04:56,279 --> 00:04:59,720 Speaker 5: did come in slightly above guidance a five point nine 104 00:04:59,839 --> 00:05:03,040 Speaker 5: nine billion dollars a similar story for EPs five dollars 105 00:05:03,120 --> 00:05:04,920 Speaker 5: and thirty one cents. The street was looking for five 106 00:05:04,880 --> 00:05:07,560 Speaker 5: to eighteen. Here's your forecast going forward for the full 107 00:05:07,560 --> 00:05:10,679 Speaker 5: fiscal year, which basically just includes one more quarter revenue 108 00:05:10,680 --> 00:05:13,640 Speaker 5: of twenty three point sixty five to twenty three point seven. 109 00:05:13,760 --> 00:05:16,919 Speaker 5: That is a slight raise in guidance from the previous 110 00:05:17,760 --> 00:05:20,760 Speaker 5: outlook that it had provided. Similar story for digital media 111 00:05:20,800 --> 00:05:23,960 Speaker 5: revenue as well as the digital experience revenue digital media 112 00:05:24,040 --> 00:05:27,000 Speaker 5: revenue for the fourth quarter, the company says four point 113 00:05:27,080 --> 00:05:29,359 Speaker 5: five to three to four point five six billion is 114 00:05:29,360 --> 00:05:32,039 Speaker 5: what to expect the street on average coming into today, 115 00:05:32,080 --> 00:05:34,200 Speaker 5: guys was looking for four point five to one. That 116 00:05:34,279 --> 00:05:36,479 Speaker 5: means the lower end of the range is above the 117 00:05:36,520 --> 00:05:37,800 Speaker 5: average of street estimates. 118 00:05:37,839 --> 00:05:39,960 Speaker 4: And you can see shares flying right now as we 119 00:05:40,040 --> 00:05:42,760 Speaker 4: have up on the screen. This is a story that 120 00:05:42,920 --> 00:05:46,159 Speaker 4: needed to happen for Adobe. Shares down about twenty one 121 00:05:46,240 --> 00:05:49,120 Speaker 4: percent coming in to today's print. Year to date, and 122 00:05:49,160 --> 00:05:51,760 Speaker 4: as we've been discussing, Adobe has become sort of the 123 00:05:51,800 --> 00:05:54,640 Speaker 4: poster child for being left behind on the software side 124 00:05:54,640 --> 00:05:57,800 Speaker 4: when it comes to AI in hardware, that's probably Apple 125 00:05:57,880 --> 00:06:01,640 Speaker 4: that has that crown, but Adobe maybe climbing out a 126 00:06:01,640 --> 00:06:02,680 Speaker 4: little bit from that whole. 127 00:06:02,720 --> 00:06:05,480 Speaker 3: A little bit of commentary the company's saying and its release. 128 00:06:05,560 --> 00:06:09,240 Speaker 3: Given our customer strategy, AI product innovation and strong go 129 00:06:09,360 --> 00:06:12,560 Speaker 3: to market execution or please to once again raise our 130 00:06:12,560 --> 00:06:15,520 Speaker 3: fiscal year twenty five total revenue and EPs target. So 131 00:06:15,920 --> 00:06:19,440 Speaker 3: that explains also why you're seeing investors pretty excited as well. 132 00:06:19,440 --> 00:06:21,880 Speaker 3: Stock up about seven percent here in the aftermarkt Yeah. 133 00:06:21,920 --> 00:06:26,360 Speaker 6: Dan Dern, Executive Vice president CFO, echoing the comments from 134 00:06:26,760 --> 00:06:30,160 Speaker 6: Chantanu Nerai and the company CEO, saying that they're raising 135 00:06:30,240 --> 00:06:33,480 Speaker 6: their fiscal year revenue and EPs targets. They're executing against 136 00:06:33,480 --> 00:06:36,159 Speaker 6: a growth strategy to deliver category leading and AI and 137 00:06:36,160 --> 00:06:39,039 Speaker 6: FUSE solutions to meet the diverse needs of our customers. 138 00:06:39,360 --> 00:06:41,599 Speaker 6: Shares taking the search hire today. 139 00:06:42,520 --> 00:06:46,560 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 140 00:06:46,640 --> 00:06:49,200 Speaker 2: us throughout the day for the latest roundup of companies 141 00:06:49,279 --> 00:06:52,360 Speaker 2: making news on Wall Street and for the latest market 142 00:06:52,400 --> 00:06:56,839 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 143 00:06:56,960 --> 00:07:00,440 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Atto with 144 00:07:00,520 --> 00:07:01,960 Speaker 2: the Bloomberg Business app.