WEBVTT - AMD Sinks After Earnings; Paypal, Novo Nordisk Falls

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

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

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

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<v Speaker 1>I'm Carol Master along with Tim Stenevik. Let's get to

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<v Speaker 1>some stocks on the move, because we're definitely seeing some

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<v Speaker 1>stuff movement today during the regular session and movement in

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<v Speaker 1>the aftermarket. Bloomberg Television Markets correspondent Normal Linda is here

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<v Speaker 1>in our studio. Where shall we begin, Well, let's take

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<v Speaker 1>a look at AMD.

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<v Speaker 3>I mean, this is the after hours trade that we've

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<v Speaker 3>been keeping an eye on. We're seeing shares of AMD

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<v Speaker 3>down by about five percent right now as we speak.

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<v Speaker 3>Of course, we know this is after the forecast for

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<v Speaker 3>the current period. Disappointed investors. It's essentially the company is

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<v Speaker 3>not really making the AI inroads that a lot of

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<v Speaker 3>the street was anticipating. I mean, take a look at

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<v Speaker 3>its competitor and video. We also were seeing some play

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<v Speaker 3>in the trading day today. We did see shares of

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<v Speaker 3>Nvidia tacker MVDA down to close by lower by two

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<v Speaker 3>point eight percent open AI. Just you know, yesterday we

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<v Speaker 3>got a report that it's unsatisfied with Nvidia's latest AI

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<v Speaker 3>chips and has sought alternatives since last year, so really

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<v Speaker 3>continued to keep an eye on this AI play and

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<v Speaker 3>which companies are able to actually keep up with what

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<v Speaker 3>the Wall Street is really expecting.

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<v Speaker 2>Okay, so that's what's going on with shares of AMD.

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<v Speaker 1>Go ahead, Katy, and we did mention, right, I forgive me.

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<v Speaker 1>I'm like the headlines crossing like crazy. But n Video

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<v Speaker 1>wants to participate in the eventual open AIPO. So that's

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<v Speaker 1>just another I don't know to the nvidious story which

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<v Speaker 1>it was on CNBC. So a lot going on with

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<v Speaker 1>that name, legs. I'm sorry, Tim, Go ahead, Novo.

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<v Speaker 2>Nordisk NVO eighty rs of Novo.

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<v Speaker 1>They took a hit.

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<v Speaker 3>Today, such a bad day for this company. We did

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<v Speaker 3>see shares falling by fifteen percent at the closing bell.

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<v Speaker 3>That's the biggest drop since last July. The company said

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<v Speaker 3>that sales will drop by five to thirteen percent. Pretty

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<v Speaker 3>big range there this year as its weight loss drugs

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<v Speaker 3>Ozembic and Wagovi face even tougher competition an als, we're

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<v Speaker 3>expecting it to of about one point four percent, so

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<v Speaker 3>of course this is a major gap that we're seeing

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<v Speaker 3>also of course, the US government's push to cut drug

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<v Speaker 3>prices is continuing. Toway on this company as well.

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<v Speaker 1>I feel like how quickly that cycled JLP one where

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<v Speaker 1>it was just on fire for how many years?

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<v Speaker 3>Right?

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<v Speaker 1>I felt like we talked AI and the JLP one

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<v Speaker 1>drugs for two or three years straight and they were

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<v Speaker 1>just on fire. And now it's a little bit of

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<v Speaker 1>a reset, safe to say them both you mentioned in video.

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<v Speaker 1>Do want to go there with you, Nora and talk

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<v Speaker 1>a little bit about what Invidia did today? A little

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<v Speaker 1>bit of a drag on the index?

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<v Speaker 3>No, absolutely, we did see shares of Nvidia down by

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<v Speaker 3>about two point eight percent today. As we were talking

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<v Speaker 3>about just a bit ago, the Open AI really being

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<v Speaker 3>unsatisfied with Nvidia's latest AI chips. We're really talking about

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<v Speaker 3>alternatives that this company, Opening Eye has really been looking

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<v Speaker 3>toward as we think about Invidia as a major player

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<v Speaker 3>in this space. So we certainly are seeing a drag

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<v Speaker 3>on Nvidia just pure AMD we were just talking about

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<v Speaker 3>a short while ago. So we really got to keep

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<v Speaker 3>an eye on the space.

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<v Speaker 1>PayPal, let's go there, PayPal.

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<v Speaker 3>Tick er pypl. We're seeing that the stock shod twenty percent,

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<v Speaker 3>the worst stations twenty twenty two and the lowest levels

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<v Speaker 3>is twenty seventeen. This is a new CEO announcement. We'll

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<v Speaker 3>be getting a lot of announcements. We got Disney earlier.

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<v Speaker 3>Also PayPal essentially a HP's CEO, Enrique Larez, will replace

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<v Speaker 3>its CEO Alex Chris. Of course, his turnaround plan has

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<v Speaker 3>really failed to meet expectations, and so we also see

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<v Speaker 3>the company reporting fourth quarter profit and revenue that fell

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<v Speaker 3>short of analyst expectations. But if take a look at

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<v Speaker 3>the stock down about twenty nine percent so far this year. Wow, brutal.

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<v Speaker 1>I know, usually with goh, you don't see a move

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<v Speaker 1>like that. Yeah, is that really a big endorsement? Right, No,

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<v Speaker 1>that's going to be an uphill battle the opposite.

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<v Speaker 3>Yeah.

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<v Speaker 1>I mean the stock was down what thirty two percent

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<v Speaker 1>last year, so it's you know, people want to see

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<v Speaker 1>some different things.

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<v Speaker 2>The Stock Mover's report from Bloomberg Radio. Check back with

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