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

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Speaker 2: This is the closing bell on this stock movers report

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Speaker 2: the company's making moves at the close of US trading

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Speaker 2: with Carol Masser, Tim Stenovak, Romain Bostik, and Scarlet Foo.

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Speaker 3: I'm looking at the S and P five hundred most

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Speaker 3: names in that index, folks lower today, three hundred and

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Speaker 3: seventy eight, losing some ground today, Katie one hundred and

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Speaker 3: twenty four to the f side and one unchanged.

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Speaker 4: Yeah, super narrow there. Let's take a look at the sector,

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Speaker 4: and let's take a look at the circle and see

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Speaker 4: what our friend is saying. There, you can see the

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Speaker 4: tech did manage to finish in the green actually as

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Speaker 4: a sector overall, up by about one percent. All eyes

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Speaker 4: on Nvidia Communication Services, which is pretty much tech in disguise,

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Speaker 4: also rallying strong today. Energy industrials catching a little bit

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Speaker 4: of a bid. What didn't do too well you would

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Speaker 4: guess this would be the case. Real estate down by

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Speaker 4: two point seven percent. We saw a big pop in

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Speaker 4: yields as jerown Palace speaking, and that certainly hit that

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Speaker 4: setter pretty hard, all.

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Speaker 3: Right, real quickly. Nvidia, I got to mention five trillion

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Speaker 3: dollar market cap today, the stock up as much as

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Speaker 3: five and a half percent earlier in the day, still

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Speaker 3: finishing with a gain of about three percent historic five

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Speaker 3: trillion dollar market cap. We know we got a lot

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Speaker 3: of big headlines from the company and it's CEO Jensen

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Speaker 3: yesterday just the AI spend, the AI frenzy, and we

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Speaker 3: know how important this name is certainly to the bull

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Speaker 3: market that we've seen. With a fifty percent gain this

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Speaker 3: year through yesterday's close, the stock is single handedly responsible

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Speaker 3: for nearly a fifth of the S and P five

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Speaker 3: hundred's index seventy percent advance this year, so we know

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Speaker 3: it's been really driving the trade. Taradine just got to

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Speaker 3: mention this was definitely a top gainer in the S

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Speaker 3: and P five hundred of twenty percent in today's session.

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Speaker 3: I believe it's a record close. It's a semi manufacturing company.

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Speaker 3: Third quarter results beat expectations, and it gave an outlook

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Speaker 3: well ahead of analyst consensus. It also named Michelle Turner

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Speaker 3: its chief financial officer effective November. That stock up forty percent.

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Speaker 3: Caterpillar up eleven percent, also now performer today.

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Speaker 1: Is this an AI play? Now? I'm old its Caterpillar

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Speaker 1: an AI play. No, isn't it nice?

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Speaker 3: We got alphabet lets all right?

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Speaker 1: Well, speaking of AI, Alphabet earnings are out. EPs coming

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Speaker 1: in looks like a pretty big beat. Two dollars and

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Speaker 1: eighty seven cents a share for the most recent quarter.

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Speaker 1: The street was looking for two dollars and twenty six

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Speaker 1: cents revenue in the most recent quarter. Also a beat

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Speaker 1: one hundred and two billion dollars in change. The street

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Speaker 1: on average was looking for roughly about ninety nine point

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Speaker 1: nine billion dollars. The company also says that it ended

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Speaker 1: the quarter that Google Cloud, I should say, ended the

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Speaker 1: quarter Get this, guys, one hundred and fifty five billion

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Speaker 1: dollar backlog.

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Speaker 4: Yeah, certainly raises the stakes to for Amazon, a lot

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Speaker 4: of focus on that cloud business. You can see Alphabet

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Speaker 4: shares deciding what to do, moving higher right now. I

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Speaker 4: will say tim that the bar was high for Alphabet specifically,

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Speaker 4: you think about where the stock has gone here today,

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Speaker 4: up by forty five percent, but clearly you can see

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Speaker 4: investors pars through and deciding what to do.

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Speaker 5: Yeah, bouncing around a little bit, but firmly hire now

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Speaker 5: about three percent. Sunder Pitshai, the CEO out saying that

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Speaker 5: the company had a terrific quarter, double digit growth across

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Speaker 5: every major part of the business, calling out the first

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Speaker 5: ever one hundred billion dollar quarter. He also called out

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Speaker 5: Gemini now processes seven billion tokens per minute and alludes

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Speaker 5: to the full stock approach to AI at Google that's

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Speaker 5: delivering strong momentum, shipping its speed, including the global rollout

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Speaker 5: of aio reviews in AI mode in search in record time.

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Speaker 5: Shares now up by about wow four percent.

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Speaker 3: All right, from one hyperscaler to another week. Go, let's

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Speaker 3: go to Microsoft, folks, just crossing with its numbers. First

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Speaker 3: quarter intelligence cloud revenue, this is what we care about.

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Speaker 3: Thirty point nine billion. The estimate on the street was

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Speaker 3: thirty point eighteen billion, so it looks like it's coming

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Speaker 3: in line. First quarter Azure also important another cloud revenue

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Speaker 3: X currency up thirty nine percent. That beats the estimate

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Speaker 3: of a gain of about thirty seven point one percent,

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Speaker 3: and first quarter revenue I cain of beat seventy seven

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Speaker 3: points sixty seven billion dollars. The estimate on the street

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Speaker 3: remain seventy five point fifty five billion, and yet we're

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Speaker 3: seeing the stock down about four percent here in the

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Speaker 3: after market, So we'll look for some more color on

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Speaker 3: this one.

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Speaker 1: Yeah, some of these numbers, well, certainly a beat with

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Speaker 1: regards to the average of analysts estimates that were public.

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Speaker 1: It looks like they did come in below some of

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Speaker 1: the whisper estimate estimates that Bloomberg had reported on. But

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Speaker 1: it gets to this idea as well. And we always

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Speaker 1: have to wait with Microsoft to actually get any sort

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Speaker 1: of forward guidance a little bit later, but this idea

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Speaker 1: of exactly what is in the pipeline that they can

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Speaker 1: actually sort of deliver or at least a flag to investors,

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Speaker 1: that could sort of be a signal here that not

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Speaker 1: just the spend on Microsoft's part, but more importantly, the

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Speaker 1: reciprocity is actually still there. Yeah.

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Speaker 4: Absolutely, Maybe we'll get some more detail about the pipeline

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Speaker 4: when it comes to the earnings call. But you can

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Speaker 4: see again those shares holding the after hours decline of

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Speaker 4: about four percent, And we know it was a big

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Speaker 4: week for Microsoft with that open AI restructuring. Microsoft of

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Speaker 4: course securing a stake here when it comes to the future,

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Speaker 4: at least through twenty thirty two.

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Speaker 5: Tim all right, I'm taking a look at Starbucks ticker SBUX,

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Speaker 5: that company out with earnings as we speak. Fourth quarter

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Speaker 5: China comp sales up two percent. The estimate was for

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Speaker 5: two point one six percent. Fourth quarter comp sales up

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Speaker 5: one percent. The beat estimates of just about negative half

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Speaker 5: a percentage point. Fourth quarter net revenue coming in above

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Speaker 5: estimates at nine point six billion dollars. Fourth quarter adjusted

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Speaker 5: innings per share coming in shy of estimates at fifty

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Speaker 5: two cents. Fourth quarter North America comp sales they were flat.

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Speaker 5: The estimate was for a decline of half a percentage point.

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Speaker 5: Fourth quarter adjusted operating margin up nine point of nine

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Speaker 5: point four percent. The estimate was for ten point two percent,

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Speaker 5: so that came in below estimates. Starbucks shares up about

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Speaker 5: one point six percent now in the after hours.

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Speaker 3: All right, so let's get to medic because we're seeing

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Speaker 3: the stock drop about three point nine percent here in

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Speaker 3: the after market meta with the outlooks. He's fourth quarter

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Speaker 3: revenue fifty six to fifty nine billion. The estimate on

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Speaker 3: the street is fifty seven point thirty eight billion. Fourth

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Speaker 3: quarter twenty twenty five are fourth quarter revenue. Let me

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Speaker 3: go there, because we're heading that one here at the

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Speaker 3: Bloomberg Meta, seeing fourth quarter revenue fifty six to fifty

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Speaker 3: nine billion estimate fifty seven point thirty eight billion to

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Speaker 3: get in the stock down about five percent. Sees fourth

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Speaker 3: quarter total revenue to be in the range again a

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Speaker 3: fifty six point fifty nine keep reading the same ones

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Speaker 3: as they come up. Looking at the past quarter. Third

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Speaker 3: quarter AD revenue was fifty billion, that's a beat the

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Speaker 3: street was looking for. Forty eight point fifty nine billion.

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Speaker 3: Third quarter EPs a dollar five versus six three a share.

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Speaker 3: That's your over year, So we'll look for some color

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Speaker 3: on that one, and then just looking at go ahead.

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Speaker 1: I just also want to point out too here just

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Speaker 1: going through their release here, there does appear to be

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Speaker 1: a pretty large charge that the company took in the

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Speaker 1: most recent quarter. This is a non cash income tax

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Speaker 1: charge of fifteen point nine three billion dollars. Meta though

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Speaker 1: does say this is a one off event, and I

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Speaker 1: just want to be very precise in the language here

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Speaker 1: and that they do still see their fourth quarter twenty

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Speaker 1: twenty five tax rate in the range of twelve to

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Speaker 1: fifteen percent, which would be in line with what the

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Speaker 1: street was looking for. But that does appear to be

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Speaker 1: where we're getting some of the reaction and one of

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Speaker 1: the reasons why you did see a little bit of

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Speaker 1: softness in that bottom line number for the quarter that

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Speaker 1: just was. Let me just dive a little bit deeper

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Speaker 1: into it and try to get you some more details.

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Speaker 4: Yeah, we'll continue to follow that, but, as Romaine said,

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Speaker 4: could explain some of the negative reaction that we're seeing

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Speaker 4: right now. Meta shares now down by more than seven percent.

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Speaker 4: I do want to go to this line in the release.

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Speaker 4: We have a lot of focus, of course, when it

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Speaker 4: comes to Capex Meta. They expect full year twenty twenty

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Speaker 4: five total expenses to now be in the range of

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Speaker 4: one hundred and sixteen to one hundred and eighteen billion.

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Speaker 4: The prior outlook had been for one hundred and fourteen

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Speaker 4: to one hundred and eighteen billion there and they also

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Speaker 4: say that our current expectation is that capital expenditures dollar

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Speaker 4: growth will be notably larger in twenty twenty six than

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Speaker 4: in twenty twenty five. This has really been the story

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Speaker 4: for a lot of these Big seven names, but also

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Speaker 4: for Meta particularly.

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Speaker 1: Sorry, I do want to go back to that tax

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Speaker 1: issue here with Meta, and this is something that Zuckerberg

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Speaker 1: and his team are going to have to address on

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Speaker 1: the call. They talk about the one big beautiful bill,

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Speaker 1: basically the big budget stimulus that was passed earlier this year.

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Speaker 1: They did say that they expect a significant reduction in

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Speaker 1: their federal cash tax payments for the rest of the

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Speaker 1: year because of that bill. However, they're saying that for

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Speaker 1: the quarter that just passed, they had to recognize evaluation

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Speaker 1: allowance change that basically amounted to a sixteen billion dollar charge. Again,

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Speaker 1: they are saying that this is a one time charge

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Speaker 1: and then effectively they will revert back to something that

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Speaker 1: actually a little bit less with regards to the effective

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Speaker 1: tax rate for the current quarter, the current fourth quarter

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Speaker 1: that we're in.

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Speaker 5: Yeah, The company continues on their romains, says net income

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Speaker 5: would have increased by fifteen point nine three billion to

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Speaker 5: eighteen point six four billion compared to the reported net

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Speaker 5: income of two point seven to one billion dollars. The

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Speaker 5: company also saying Mark Zuckerberg specifically saying that leading the

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Speaker 5: industry when it comes to aiglasses, which we know that

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Speaker 5: and he sees a big opportunity there, A lot of

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Speaker 5: analysts are a big opportunity there. He says, if we

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Speaker 5: deliver even a free action of the opportunity ahead in

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Speaker 5: the next few years will be the most exciting period

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Speaker 5: in our history.

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Speaker 4: All right, Well, those are some big words, but let's

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Speaker 4: tear our eyes away from Meta for just a moment

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Speaker 4: and talk about eBay, also reporting earnings fourth quarter net

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Speaker 4: revenue that is seen between two hundred and two point

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Speaker 4: eight three billion dollars to two point eight nine billion dollars.

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Speaker 4: The estimate had been for two point eight billion dollars,

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Speaker 4: so a bump up of that range. Take a look

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Speaker 4: at shares down almost nine percent at this point though,

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Speaker 4: so certainly some disappointment coming through when it comes.

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Speaker 1: To eBay, some disappointment as well when it comes to Carvana.

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Speaker 1: Those shares down ten percent in the after hours trade,

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Speaker 1: with third quarter EPs coming in at a dollar three

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Speaker 1: a share, revenue coming in at five point sixty five

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Speaker 1: billion dollars. But here's your guidance. The company says if

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Speaker 1: full year EVA DAD will be at least two point

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Speaker 1: two billion. It previously pretty much guided towards that. It

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Speaker 1: had a range of two to two point two billion,

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Speaker 1: so maybe potentially trying to nudge slightly above that with

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Speaker 1: regards to expectations, we should point out though the company

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Speaker 1: is also saying here with regards to retail unit sales,

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Speaker 1: one hundred and fifty five thousand, nine forty one. We'll

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Speaker 1: just round up to one hundred and fifty six thousand here. Again,

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Speaker 1: that did beat the average of analyss essiments, but there

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Speaker 1: was a whisper number out there that was a little

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Speaker 1: bit higher, maybe partly responsible for why you're seeing the

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Speaker 1: shares down in the after hours trade.

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Speaker 3: Yeah, it costs an expenses to you up about thirty

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Speaker 3: two percent year over year. Kurt Wagner though on our

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Speaker 3: live blog saying talking about this net income and how

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Speaker 3: we see this shortage and then attributing it to this

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Speaker 3: one time tax charge. Definitely a lot of questions on

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Speaker 3: what this is because it does feel like it's come

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Speaker 3: out of nowhere.

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Speaker 1: Sorry, one quick one otch botlet crossing the wire right now.

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Speaker 1: Adjusteddps coming in line with estimates are twenty nine cents

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Speaker 1: a share. Revenue roughly coming in line with estimates at

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Speaker 1: three billion dollars. Comp sales lower than estimated, coming in

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Speaker 1: at point three percent. The street was looking for a

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Speaker 1: gain of about one percent here, So a little bit

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Speaker 1: light with regards to comp sales growth. Also a little

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Speaker 1: bit light when it comes to operating margin fifteen point

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Speaker 1: six fifteen point nine percent. It was looking for sixteen

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Speaker 1: point six.

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Speaker 4: And while we're here, let's just talk about Service Now

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Speaker 4: really quickly boosting their full year subscription revenue forecast, also

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Speaker 4: beating estimates when it comes to the look back subscription

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Speaker 4: revenue now seen between twelve point eight four billion dollars

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Speaker 4: to twelve point eight five billion dollars. The previous guide

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Speaker 4: was for twelve point seven eight billion dollars to twelve

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Speaker 4: point eight billion dollars. So you can see, of course,

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Speaker 4: a little bit of a boost there to Service Now

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Speaker 4: when it comes to that full year subscription revenue.

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Speaker 3: All right, so Microsoft down three point three percent, You've

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Speaker 3: got a Alphabet up about three and a half percent,

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Speaker 3: and you've got Meta down about five point seven percent.

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Speaker 3: So those are big ones that we'll keep a watch

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Speaker 3: on as we go into those calls with Alyason Investors.

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