WEBVTT - Apple Beats, Amazon Gloomy Forecast, Reddit Surges

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Carol Masser Long with Tim Steneck.

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<v Speaker 1>Let's get you some stocks on the move, and we

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<v Speaker 1>have in the house of Carmen rhyin Agasey's Bloomberg News

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<v Speaker 1>Equities Reporter.

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<v Speaker 3>You're going to talk about Apple.

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<v Speaker 2>We have to.

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<v Speaker 4>I mean, it's one of the biggest stories in the

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<v Speaker 4>after hours. So earnings beat pretty much across the board,

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<v Speaker 4>especially on things that you know, investors were really looking for,

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<v Speaker 4>so iPhone, iPad, revenue, China, which has been a big

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<v Speaker 4>sort of line item for Apple.

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<v Speaker 3>The shares are up, They've paired a little bit.

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<v Speaker 4>They're up about one point three percent in the after

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<v Speaker 4>hours right now.

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<v Speaker 3>This is ticker AAPL.

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<v Speaker 4>Apple has been one of the biggest laggards in the

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<v Speaker 4>Meg seven this year. It was down seventeen percent at

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<v Speaker 4>market close today, and you know, because it's one of

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<v Speaker 4>the biggest companies in the SMP, it's not a huge drag.

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<v Speaker 4>I mean, obviously we're still at you know, at our

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<v Speaker 4>new record high. So all the other stocks are. You know,

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<v Speaker 4>they're doing the work, but you know, getting this one

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<v Speaker 4>sort of back in the game would be really great.

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<v Speaker 1>Okay, shares Apple in the after hours ahead of the

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<v Speaker 1>call where we're recording this set up about one point

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<v Speaker 1>two percent. Amazon also one that you're watching in the

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<v Speaker 1>after hours, given we just heard from the company as well.

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<v Speaker 4>Yeah, so this one is not looking quite as good.

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<v Speaker 4>It's down two point six percent right now, ticker am Z.

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<v Speaker 4>And really here it's the guide I think that investors

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<v Speaker 4>are reacting to the it's the operating profit for the

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<v Speaker 4>third quarter. It's just less than you know, what investors

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<v Speaker 4>wanted to see.

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<v Speaker 3>Uh And it's really what.

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<v Speaker 4>It's signaling is that there's a worry that Amazon is

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<v Speaker 4>spending too much on AI and that it's cutting into.

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<v Speaker 3>Their profit right.

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<v Speaker 4>And so obviously spending on AI is a huge important

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<v Speaker 4>thing that these companies need to be doing to be

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<v Speaker 4>keeping up. But investors still want to see that return

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<v Speaker 4>on investment. So Amazon dragging a little bit. It's up

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<v Speaker 4>about six point seven percent today year to date, before

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<v Speaker 4>before earnings or.

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<v Speaker 3>In terms of pops after the market closed, just real

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<v Speaker 3>quickly got about thirty seconds Reddit it is take your

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<v Speaker 3>RDDT and it's up about fourteen percent. What's going on?

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<v Speaker 4>Yeah, I wanted to talk about Reddit because this is

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<v Speaker 4>a pretty big move. The company is also sort of

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<v Speaker 4>an AI name because you know, a lot of llms or.

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<v Speaker 3>Whatever use Reddit to train.

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<v Speaker 4>So basically this the company reported its most profitable quarter

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<v Speaker 4>it went public in twenty twenty four, projected third quarter

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<v Speaker 4>quarter sales that beat expectations, and it really single signals

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<v Speaker 4>strength of the advertising business. I think this is also

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<v Speaker 4>really interesting coming after Meta. I was just saying the

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<v Speaker 4>same thing. Definitely a tie there, So we're seeing that

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<v Speaker 4>this is a place where you know, AI is really working.

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<v Speaker 4>And Reddit was basically unchanged year to date at the close,

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<v Speaker 4>so it should be a good a good story tomorrow morning.

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