WEBVTT - Palantir Drops, Uber Earnings, Pfizer Boosts Forecast

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.960 --> 0:00:18.720
<v Speaker 1>Let's take a look at some stocks on the move today.

0:00:18.720 --> 0:00:21.599
<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Critty GOUPDA on a

0:00:21.680 --> 0:00:24.560
<v Speaker 3>down Tuesday morning, and a lot of the negativity. It seems.

0:00:24.600 --> 0:00:28.000
<v Speaker 3>Critty is driven by Palenteered despite their earnings beat. Good morning,

0:00:28.360 --> 0:00:29.160
<v Speaker 3>Good morning, Nathan.

0:00:29.240 --> 0:00:32.000
<v Speaker 4>Yeah, a fascinating one here, because this really proves the

0:00:32.040 --> 0:00:34.879
<v Speaker 4>idea that sometimes being an A plus plus student just

0:00:34.960 --> 0:00:35.560
<v Speaker 4>isn't enough.

0:00:35.600 --> 0:00:37.320
<v Speaker 1>And that's the story with Palenteer this morning.

0:00:37.400 --> 0:00:42.160
<v Speaker 4>Strong booking, strong profit, strong guidance going into the next year,

0:00:42.600 --> 0:00:45.159
<v Speaker 4>and yet the stock is quite literally driving down not

0:00:45.200 --> 0:00:47.640
<v Speaker 4>only the games you're seeing the futures picture, but kind

0:00:47.680 --> 0:00:50.440
<v Speaker 4>of bleeding into some of the sentiment across the board

0:00:50.440 --> 0:00:53.239
<v Speaker 4>when it comes to those heavyweight tech stocks. So Palenteer

0:00:53.240 --> 0:00:55.680
<v Speaker 4>shares down seven point four percent this morning, one hundred

0:00:55.680 --> 0:00:57.320
<v Speaker 4>and ninety one dollars a share.

0:00:57.680 --> 0:00:59.040
<v Speaker 1>We'll call it one hundred and ninety two just to

0:00:59.120 --> 0:01:01.520
<v Speaker 1>round up. PLR is your ticker.

0:01:01.560 --> 0:01:04.000
<v Speaker 4>You're starting to see a lot of the street use

0:01:04.080 --> 0:01:07.400
<v Speaker 4>that scary word valuation, this idea that you've just seen

0:01:07.400 --> 0:01:10.600
<v Speaker 4>the stock rally, but one hundred and fifty percent year

0:01:10.680 --> 0:01:12.520
<v Speaker 4>to date. So there's a big question here of whether

0:01:12.520 --> 0:01:15.040
<v Speaker 4>this is just time to come back down to earth.

0:01:15.080 --> 0:01:17.800
<v Speaker 4>And that's something that's bleeding into really the entire market

0:01:18.240 --> 0:01:20.880
<v Speaker 4>this morning. Let's talk about that tech story though, because

0:01:20.880 --> 0:01:23.560
<v Speaker 4>we have another stock crossing the earnings I should say

0:01:23.560 --> 0:01:27.600
<v Speaker 4>crossing the wire, Uber coming out you Ber is your

0:01:27.640 --> 0:01:31.840
<v Speaker 4>ticker shares plummeting now five percent as we are speaking.

0:01:31.880 --> 0:01:34.479
<v Speaker 1>Again. This comes after their third quarter results where.

0:01:34.319 --> 0:01:37.520
<v Speaker 4>Their gross bookings actually seem to be coming in kind

0:01:37.560 --> 0:01:39.840
<v Speaker 4>of in the range that was expected at least for

0:01:39.880 --> 0:01:42.760
<v Speaker 4>the fourth quarter. The third quarter bookings came in higher

0:01:42.800 --> 0:01:45.639
<v Speaker 4>than expected. The estimate was forty eight point ninety six billion.

0:01:45.680 --> 0:01:48.400
<v Speaker 4>It came in at forty nine point seventy four billion.

0:01:48.440 --> 0:01:51.160
<v Speaker 4>The fourth quarter gross bookings as well the range again

0:01:51.240 --> 0:01:53.960
<v Speaker 4>coming in in line with estimates. So us unclear what's

0:01:54.040 --> 0:01:56.680
<v Speaker 4>driving this stock lower at the moment, but it might

0:01:56.760 --> 0:01:59.440
<v Speaker 4>just be a sentiment thing. It feels like if you

0:01:59.480 --> 0:02:02.320
<v Speaker 4>are a tech stock this morning, you are getting punished

0:02:02.360 --> 0:02:03.400
<v Speaker 4>a good earnings or not.

0:02:03.480 --> 0:02:04.480
<v Speaker 1>The story with Palnenteer.

0:02:04.480 --> 0:02:06.360
<v Speaker 4>At least on the surface, that seems to be the

0:02:06.400 --> 0:02:09.320
<v Speaker 4>story with Uber as well. There's a couple of other

0:02:09.360 --> 0:02:11.119
<v Speaker 4>earnings crossing the wire as well.

0:02:11.200 --> 0:02:13.760
<v Speaker 1>Nathan. Let's talk about Pfizer if we can.

0:02:13.919 --> 0:02:20.120
<v Speaker 4>Sure PFE is your ticker for the pharmaceutical stock, vaccine maker,

0:02:20.200 --> 0:02:22.000
<v Speaker 4>whatever you want to call it. Those shares hire by

0:02:22.000 --> 0:02:24.440
<v Speaker 4>one point one percent, so it's not doom and gloom everywhere.

0:02:24.960 --> 0:02:27.560
<v Speaker 4>Shares are at trading at about twenty five dollars a

0:02:27.639 --> 0:02:30.440
<v Speaker 4>share approximately, give or take a couple of cents. Their

0:02:30.440 --> 0:02:33.560
<v Speaker 4>earnings are coming in because they've boosted profit there are

0:02:33.600 --> 0:02:38.320
<v Speaker 4>looking for diversifying remember their portfolio of drugs. A big

0:02:38.320 --> 0:02:41.400
<v Speaker 4>piece of that is their approach around Metsara, something that

0:02:41.400 --> 0:02:43.440
<v Speaker 4>they're in a bidding war with the likes of Novo

0:02:43.560 --> 0:02:46.720
<v Speaker 4>Nordisk on. So nevertheless, they are talking about boosting profit

0:02:47.280 --> 0:02:50.959
<v Speaker 4>despite some of their COVID nineteen vaccines seeing less demand,

0:02:51.080 --> 0:02:53.119
<v Speaker 4>and of course that is something that was largely expected

0:02:53.440 --> 0:02:55.640
<v Speaker 4>in some of these earnings are fully your adjusted EPs

0:02:55.680 --> 0:02:58.280
<v Speaker 4>also coming in hotter than what the street expected.

0:02:58.320 --> 0:02:59.680
<v Speaker 1>So some good news there.

0:03:00.040 --> 0:03:02.160
<v Speaker 4>I have to throw this one in, Nathan, just because

0:03:02.160 --> 0:03:04.800
<v Speaker 4>I think it's a fascinating story. I heard media is

0:03:04.840 --> 0:03:08.919
<v Speaker 4>having a massive day. This isn't a stockings cover in

0:03:08.960 --> 0:03:11.200
<v Speaker 4>this in this segment, but it's worth hitting.

0:03:11.360 --> 0:03:15.440
<v Speaker 1>IHRT is your ticker. Hired by almost ten percent this morning,

0:03:15.520 --> 0:03:18.040
<v Speaker 1>was hired by even more earlier in the sessions. Is

0:03:18.040 --> 0:03:20.280
<v Speaker 1>the stock that's about three dollars and change. So again

0:03:20.360 --> 0:03:21.280
<v Speaker 1>grain the salt there.

0:03:21.520 --> 0:03:25.640
<v Speaker 4>But they're in talks with Netflix to license video podcasts

0:03:25.639 --> 0:03:28.640
<v Speaker 4>from their platform. So really taking Netflix's move into the

0:03:29.080 --> 0:03:34.120
<v Speaker 4>podcasting arena more seriously because it's moving iHeart media shares

0:03:34.160 --> 0:03:36.440
<v Speaker 4>in a very, very big way. I have to Now

0:03:36.440 --> 0:03:38.160
<v Speaker 4>that I've talked about higheart Media, I have to talk

0:03:38.200 --> 0:03:39.960
<v Speaker 4>about Denny's as well. Well.

0:03:40.000 --> 0:03:44.960
<v Speaker 1>Okay, I naturally d N is your ticker, the Denny's podcast.

0:03:45.080 --> 0:03:47.000
<v Speaker 4>I mean, I'm a waffle house kind of girl, but

0:03:47.120 --> 0:03:49.960
<v Speaker 4>Denny's understood, is getting the credit this morning. Okay, here's

0:03:49.960 --> 0:03:54.320
<v Speaker 4>are hire by forty nine percent because apparently it's going

0:03:54.400 --> 0:03:57.440
<v Speaker 4>private for six hundred and twenty million dollars to get

0:03:57.440 --> 0:03:59.200
<v Speaker 4>the folks who are really excited about Denny's.

0:03:59.280 --> 0:04:01.120
<v Speaker 1>Who got real excited about that?

0:04:02.200 --> 0:04:06.440
<v Speaker 2>The stockmovers report from Bloomberg Radio. Check back with us

0:04:06.480 --> 0:04:09.280
<v Speaker 2>throughout the day for the latest roundup of companies making

0:04:09.360 --> 0:04:12.960
<v Speaker 2>news on Wall Street, and for the latest market moving headlines.

0:04:13.160 --> 0:04:17.200
<v Speaker 2>Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

0:04:17.240 --> 0:04:20.320
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:04:20.320 --> 0:04:21.680
<v Speaker 2>Bloomberg Business App.