Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data. Let's
Speaker 2: take a look at some stocks on the move today.
Speaker 2: I'm Bailey Lipschutz with Normal Linda and we're joined by
Speaker 2: Bloomberg News Cross Asset reporter Deniza Sikkova. What's top of mind?
Speaker 1: A lot of earnings, a lot going on, A lot
Speaker 1: of red on the screen. Yeah, but we're starting with
Speaker 1: one company that is not going to report earnings for
Speaker 1: TiO November nineteen. Nvidia is Actually it fell as much
Speaker 1: as four point five percent today. If you look over
Speaker 1: the last three days, it's down about nine percent, which
Speaker 1: is the worst stretch since April. So really one of
Speaker 1: the biggest selloffs we're seeing, obviously in the whole AI
Speaker 1: space in tech, like the big moves we're seeing today
Speaker 1: are indeed driven by some of the big winners behind
Speaker 1: the Air Revolution. Of course, we had the story yesterday
Speaker 1: about Jensen Huan warning that China will build the US
Speaker 1: beat the US in the artificial intelligence race, so perhaps
Speaker 1: this is weighing on sentiment. Of course, we have jobs
Speaker 1: date we have macro, We have a lot of things
Speaker 1: combined as more and more people have been worried about valuation,
Speaker 1: and one clear uh loser in that space is currently
Speaker 1: in video. The comments came after, obviously people have been
Speaker 1: worried for a very long time. He said China is
Speaker 1: going to win the AI race. Remarks come after Trump
Speaker 1: administration maintained a ban on Nvidia chips selling more their
Speaker 1: most advanced chips to China. We also saw a report
Speaker 1: about Michael Burry actually placing a short bed there, which
Speaker 1: he has warned about multiple times. Multiple times he has
Speaker 1: been wrong, but clearly this week the combination factors are
Speaker 1: definitely weighing in. Of course, still a very strong year
Speaker 1: for Nvidia, but combining the warnings with the shaw Key
Speaker 1: foundation of the rally we have seen this year, we're
Speaker 1: seeing sentiments starting to weigh away in on Nvidia and
Speaker 1: a lot of those AI winners. It's just just a
Speaker 1: proxy of a sentiment. I would say, yeah.
Speaker 3: I mean, we're looking at a video of course, always
Speaker 3: still in focus, but we're looking at shares of video
Speaker 3: up about forty one percent near today. That's taker in
Speaker 3: v DA. I wish I had a good segue from
Speaker 3: chip makers to the beauty space. But you're also watching
Speaker 3: shares of elf Beauty.
Speaker 1: Yeah, that's I don't know how to connect it as well.
Speaker 1: But the loss there is much bigger. We can say
Speaker 1: that for sure. Shares of elf Beauty fell as much
Speaker 1: as twenty four percent in pre market trading. But last
Speaker 1: time we really talked so much about l Beauty was
Speaker 1: when they signed that deal with Hailey Bieber. There was
Speaker 1: so much enthusiasm the stock sword. There was kind of
Speaker 1: almost like a new era and a lot of optimism.
Speaker 1: Now we're seeing the opposite part of this company for
Speaker 1: wer outlook for just that earnings per share disappointed. Net
Speaker 1: sales as well missed analyst estimates. They're positive about sales growth,
Speaker 1: but there were perhaps a really high bar and high
Speaker 1: expectation about roads, which is Haley Beaver's brand, so there
Speaker 1: is some disappointment there. The company had passed on giving investors'
Speaker 1: outlook in the weast quarter. This time, they gave about
Speaker 1: one point fifty five billion to one point fifty seven
Speaker 1: billion and earnings about two There's an eighty sins per share.
Speaker 1: This we've seen some growth. This is mostly thanks to
Speaker 1: the growth in both retail and e commerce channels. But
Speaker 1: that's it. It's having a really bad year despite a
Speaker 1: deal that brought so much optimism for this company. But
Speaker 1: we can see after earnings it's clearly falling about pretty.
Speaker 3: Fast, really bad the year. Down forty percent this year,
Speaker 3: but even today the worst day since twenty eighteen. You're
Speaker 3: also looking at Robinhood, right, and of course I was
Speaker 3: taker Elf meant to mention that there.
Speaker 1: Yeah, robbin Hood had a wonderful year and it still does.
Speaker 1: It's still have more than two hundred percent, but today
Speaker 1: we're seeing perhaps part of the market sentiment a really
Speaker 1: bad day. Films much is ten percent. The trading platform
Speaker 1: reported cryptocurrency revenue that came below estimates. Robin Hood is
Speaker 1: so much more than what it was in twenty twenty one.
Speaker 1: They do close and funds, they do prediction markets, they
Speaker 1: do crypto, they do all of these. Thanks and retail
Speaker 1: investors and beyond have been rewarding them, and their valuations
Speaker 1: have gone through the roof. Their stock price has been
Speaker 1: going through the roof, and really anyone who invested in
Speaker 1: the company in the last two years have been rewarded
Speaker 1: very well. That said, net income rolls two hundred and
Speaker 1: seventy one percent. This was better than one analyst expected.
Speaker 1: They also top fifty three cents average estimate of analysts.
Speaker 1: Just operating experences came higher than expected. And a big
Speaker 1: news is that their CFO is leaving, so perhaps that's
Speaker 1: also part of the sentiment. That's it. They've been growing
Speaker 1: really fast, so the drop today maybe is not weighing
Speaker 1: on prices that much. Here today, A.
Speaker 2: Lot going on though, Thank you so much, Bloomberg News
Speaker 2: Cross Asset reporter Danitza Sikova the Stock Movers Report from
Speaker 2: Bloomberg Radio. Check back with us throughout the day for
Speaker 2: the latest roundup of companies making news on Wall Street
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