1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:17,280 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:17,760 --> 00:00:19,440 Speaker 2: Let's take a look at some of the stocks on 5 00:00:19,480 --> 00:00:22,400 Speaker 2: the move today that we're joined by Bloomberg's Normal, Linda Norm. 6 00:00:22,440 --> 00:00:23,040 Speaker 2: What are you looking at? 7 00:00:23,239 --> 00:00:24,920 Speaker 3: Well, we do see the stock market that is really 8 00:00:25,000 --> 00:00:27,040 Speaker 3: fluctuating back and forth. I've got a name in the 9 00:00:27,080 --> 00:00:30,200 Speaker 3: green for you. Taking a look at Alphabet. Now we 10 00:00:30,240 --> 00:00:32,600 Speaker 3: see sharers that are pairing their gains. But the earlier 11 00:00:32,640 --> 00:00:34,720 Speaker 3: rose as much as four percent, and this is after 12 00:00:35,120 --> 00:00:37,560 Speaker 3: it beat on estimates, and this is due to its 13 00:00:37,600 --> 00:00:41,600 Speaker 3: Google Search ad business. We are seeing Google Cloud. It 14 00:00:41,600 --> 00:00:44,320 Speaker 3: brought in an operating profit of two point one point 15 00:00:44,320 --> 00:00:48,040 Speaker 3: eight billion dollars. This beat estimates for the for Wall Street, 16 00:00:48,240 --> 00:00:51,320 Speaker 3: and the company really remains heavily invested in AI. So 17 00:00:51,360 --> 00:00:53,120 Speaker 3: this is some good news for the company, especially as 18 00:00:53,120 --> 00:00:54,640 Speaker 3: we're thinking about a lot of these tech names. But 19 00:00:54,800 --> 00:00:56,920 Speaker 3: in the broader scope, I am looking at shares of 20 00:00:56,960 --> 00:01:00,200 Speaker 3: Alphabet that are down about fourteen percent this year. But 21 00:01:00,240 --> 00:01:02,760 Speaker 3: we do have Jeffries noting that this report came in 22 00:01:03,000 --> 00:01:03,920 Speaker 3: better than feared. 23 00:01:04,400 --> 00:01:06,000 Speaker 4: Right, I feel like that's going to be a theme 24 00:01:06,120 --> 00:01:08,200 Speaker 4: for some of these guys, where they're expecting the worst 25 00:01:08,200 --> 00:01:10,640 Speaker 4: and it's not as bad and therefore there you go. 26 00:01:10,800 --> 00:01:12,560 Speaker 4: But speaking of T Mobile was a bit of a 27 00:01:12,600 --> 00:01:15,160 Speaker 4: surprise because when Verizon disappointed, we were all like, ooh, 28 00:01:15,240 --> 00:01:17,880 Speaker 4: maybe T Mobile is stealing their customers. But maybe that's 29 00:01:17,920 --> 00:01:19,000 Speaker 4: not true exactly. 30 00:01:19,000 --> 00:01:20,160 Speaker 3: I mean, that may not be the case. We are 31 00:01:20,160 --> 00:01:22,880 Speaker 3: seeing T Mobile being one of the worst performing. It 32 00:01:22,920 --> 00:01:24,520 Speaker 3: is the worst performing stock right now in the S 33 00:01:24,560 --> 00:01:27,040 Speaker 3: and P five hundred by a percentage basis. Shares are 34 00:01:27,080 --> 00:01:30,160 Speaker 3: down as much as eleven percent in trading. This is 35 00:01:30,280 --> 00:01:33,840 Speaker 3: the worst inter day fall since the start of the 36 00:01:33,840 --> 00:01:37,720 Speaker 3: pandemic that was back in March twenty twenty, so pretty brutal. 37 00:01:37,800 --> 00:01:40,240 Speaker 3: As we're looking at the pressure here that T Mobile 38 00:01:40,319 --> 00:01:42,839 Speaker 3: is seeing, but this is due to some rising competition, 39 00:01:43,520 --> 00:01:46,840 Speaker 3: so their mobile phone subscribers fell short of expectations. And 40 00:01:47,040 --> 00:01:50,800 Speaker 3: Brooker also are flagging that the customer turnover was higher 41 00:01:50,840 --> 00:01:54,040 Speaker 3: than expected, and they're saying that this is likely as 42 00:01:54,040 --> 00:01:57,600 Speaker 3: a result to T mobiles increase pricing. It's really interesting 43 00:01:57,640 --> 00:01:59,480 Speaker 3: because I always wonder if people are, you know, do 44 00:01:59,520 --> 00:02:01,680 Speaker 3: they have a brand that the stick with it doesn't 45 00:02:01,720 --> 00:02:03,920 Speaker 3: matter if it's Verizon, you stick with Verizon or when 46 00:02:03,960 --> 00:02:05,680 Speaker 3: prices start going up, are you going to move? 47 00:02:06,080 --> 00:02:09,800 Speaker 2: Well, I'm a Verizon person since the beginning of the 48 00:02:09,840 --> 00:02:13,160 Speaker 2: whole mobile thing back in the day. T tell It 49 00:02:13,200 --> 00:02:16,040 Speaker 2: sings the praises of T T MUS your T Mus. 50 00:02:16,720 --> 00:02:20,040 Speaker 2: Tom Keen is at AT and T, and have you changed? 51 00:02:20,720 --> 00:02:23,160 Speaker 4: I went from Verizon to TMUS did a couple of 52 00:02:23,200 --> 00:02:23,720 Speaker 4: few years ago. 53 00:02:23,800 --> 00:02:24,919 Speaker 3: Hey, I got free. 54 00:02:24,680 --> 00:02:27,079 Speaker 4: Wi Fi for temas on American Airlines yesterday. 55 00:02:27,200 --> 00:02:28,120 Speaker 2: Okay, And you guys. 56 00:02:27,960 --> 00:02:30,079 Speaker 3: Have T Mobile Tuesdays where you can get all these 57 00:02:30,120 --> 00:02:36,960 Speaker 3: free food, download the app. I might be coming your way. Okay, 58 00:02:37,760 --> 00:02:38,200 Speaker 3: all right. 59 00:02:38,120 --> 00:02:38,640 Speaker 1: So there we go. 60 00:02:38,680 --> 00:02:41,239 Speaker 2: So everybody's got their brand, but it's a competitive marketplace. 61 00:02:41,280 --> 00:02:43,720 Speaker 2: AT and T did well with their subscribers. Verizon and 62 00:02:43,760 --> 00:02:45,919 Speaker 2: T Mobile not so well. So who knows what else 63 00:02:45,960 --> 00:02:46,239 Speaker 2: you got? 64 00:02:46,320 --> 00:02:48,200 Speaker 3: I mean, another name that's not doing well. I'm looking 65 00:02:48,240 --> 00:02:51,600 Speaker 3: at Intel down as much as ten percent today, and 66 00:02:51,600 --> 00:02:53,280 Speaker 3: of course people are really looking at this company to 67 00:02:53,320 --> 00:02:55,680 Speaker 3: see whether or not they can have this turnaround story 68 00:02:55,720 --> 00:02:58,760 Speaker 3: that this new CEO is really putting out there and 69 00:02:58,800 --> 00:03:00,440 Speaker 3: saying that he wants to do. He's saying the company 70 00:03:00,520 --> 00:03:05,000 Speaker 3: to cultural shakeup, plans to cut jobs, remove layers of management, 71 00:03:05,080 --> 00:03:09,120 Speaker 3: and require employees to work in person four days a week. 72 00:03:09,360 --> 00:03:11,360 Speaker 3: But I mean, this company is released one of the 73 00:03:11,400 --> 00:03:13,239 Speaker 3: worst performing stocks as well in the S and P 74 00:03:13,320 --> 00:03:15,840 Speaker 3: five hundred this morning. It's saying that it plans to 75 00:03:16,160 --> 00:03:18,919 Speaker 3: reduce operating costs to seventeen billion dollars this year in 76 00:03:19,000 --> 00:03:22,160 Speaker 3: sixteen billion dollars next year. But this really does bleak 77 00:03:22,240 --> 00:03:25,560 Speaker 3: outlook that they have given that's really making Wall Street 78 00:03:26,000 --> 00:03:27,880 Speaker 3: a bit apprehensive. 79 00:03:28,480 --> 00:03:32,600 Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with 80 00:03:32,680 --> 00:03:35,440 Speaker 1: us throughout the day for the latest roundup of companies 81 00:03:35,480 --> 00:03:38,520 Speaker 1: making news on Wall Street and for the latest market 82 00:03:38,560 --> 00:03:42,920 Speaker 1: moving headlines. 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