Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Critty GOUPDA on a
Speaker 3: down Tuesday morning, and a lot of the negativity. It seems.
Speaker 3: Critty is driven by Palenteered despite their earnings beat. Good morning,
Speaker 3: Good morning, Nathan.
Speaker 4: Yeah, a fascinating one here, because this really proves the
Speaker 4: idea that sometimes being an A plus plus student just
Speaker 4: isn't enough.
Speaker 1: And that's the story with Palenteer this morning.
Speaker 4: Strong booking, strong profit, strong guidance going into the next year,
Speaker 4: and yet the stock is quite literally driving down not
Speaker 4: only the games you're seeing the futures picture, but kind
Speaker 4: of bleeding into some of the sentiment across the board
Speaker 4: when it comes to those heavyweight tech stocks. So Palenteer
Speaker 4: shares down seven point four percent this morning, one hundred
Speaker 4: and ninety one dollars a share.
Speaker 1: We'll call it one hundred and ninety two just to
Speaker 1: round up. PLR is your ticker.
Speaker 4: You're starting to see a lot of the street use
Speaker 4: that scary word valuation, this idea that you've just seen
Speaker 4: the stock rally, but one hundred and fifty percent year
Speaker 4: to date. So there's a big question here of whether
Speaker 4: this is just time to come back down to earth.
Speaker 4: And that's something that's bleeding into really the entire market
Speaker 4: this morning. Let's talk about that tech story though, because
Speaker 4: we have another stock crossing the earnings I should say
Speaker 4: crossing the wire, Uber coming out you Ber is your
Speaker 4: ticker shares plummeting now five percent as we are speaking.
Speaker 1: Again. This comes after their third quarter results where.
Speaker 4: Their gross bookings actually seem to be coming in kind
Speaker 4: of in the range that was expected at least for
Speaker 4: the fourth quarter. The third quarter bookings came in higher
Speaker 4: than expected. The estimate was forty eight point ninety six billion.
Speaker 4: It came in at forty nine point seventy four billion.
Speaker 4: The fourth quarter gross bookings as well the range again
Speaker 4: coming in in line with estimates. So us unclear what's
Speaker 4: driving this stock lower at the moment, but it might
Speaker 4: just be a sentiment thing. It feels like if you
Speaker 4: are a tech stock this morning, you are getting punished
Speaker 4: a good earnings or not.
Speaker 1: The story with Palnenteer.
Speaker 4: At least on the surface, that seems to be the
Speaker 4: story with Uber as well. There's a couple of other
Speaker 4: earnings crossing the wire as well.
Speaker 1: Nathan. Let's talk about Pfizer if we can.
Speaker 4: Sure PFE is your ticker for the pharmaceutical stock, vaccine maker,
Speaker 4: whatever you want to call it. Those shares hire by
Speaker 4: one point one percent, so it's not doom and gloom everywhere.
Speaker 4: Shares are at trading at about twenty five dollars a
Speaker 4: share approximately, give or take a couple of cents. Their
Speaker 4: earnings are coming in because they've boosted profit there are
Speaker 4: looking for diversifying remember their portfolio of drugs. A big
Speaker 4: piece of that is their approach around Metsara, something that
Speaker 4: they're in a bidding war with the likes of Novo
Speaker 4: Nordisk on. So nevertheless, they are talking about boosting profit
Speaker 4: despite some of their COVID nineteen vaccines seeing less demand,
Speaker 4: and of course that is something that was largely expected
Speaker 4: in some of these earnings are fully your adjusted EPs
Speaker 4: also coming in hotter than what the street expected.
Speaker 1: So some good news there.
Speaker 4: I have to throw this one in, Nathan, just because
Speaker 4: I think it's a fascinating story. I heard media is
Speaker 4: having a massive day. This isn't a stockings cover in
Speaker 4: this in this segment, but it's worth hitting.
Speaker 1: IHRT is your ticker. Hired by almost ten percent this morning,
Speaker 1: was hired by even more earlier in the sessions. Is
Speaker 1: the stock that's about three dollars and change. So again
Speaker 1: grain the salt there.
Speaker 4: But they're in talks with Netflix to license video podcasts
Speaker 4: from their platform. So really taking Netflix's move into the
Speaker 4: podcasting arena more seriously because it's moving iHeart media shares
Speaker 4: in a very, very big way. I have to Now
Speaker 4: that I've talked about higheart Media, I have to talk
Speaker 4: about Denny's as well. Well.
Speaker 1: Okay, I naturally d N is your ticker, the Denny's podcast.
Speaker 4: I mean, I'm a waffle house kind of girl, but
Speaker 4: Denny's understood, is getting the credit this morning. Okay, here's
Speaker 4: are hire by forty nine percent because apparently it's going
Speaker 4: private for six hundred and twenty million dollars to get
Speaker 4: the folks who are really excited about Denny's.
Speaker 1: Who got real excited about that?
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