Speaker 1: Hi, I'm Barry Ridolts introducing you to the new Stock
Speaker 1: Movers podcast from Bloomberg. The show brings you short episodes
Speaker 1: five minutes or less, covering the stocks making gains and
Speaker 1: losses in today's trading. Subscribe to Stock Movers on Apple, Spotify,
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Speaker 1: the latest episode from our team at Bloomberg.
Speaker 2: The Stock Movers podcast your roundup of companies making moves
Speaker 2: in the stock market. Harnessing the power of Bloomberg data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: We are joined by Bloomberg's Valerie Titel and what feels
Speaker 3: like a buy everything morning, Valerie. But let's focus in
Speaker 3: on some of the stocks making news this morning, including
Speaker 3: earnings just in the pre market from AT and T.
Speaker 3: Do we have to rethink what we're thinking about the
Speaker 3: cell phone business after these results?
Speaker 2: Yeah?
Speaker 4: Look AT and T did top estimates for mobile phone cuts.
Speaker 4: It comes a day after the Verizon miss. Seems to
Speaker 4: be the story here is that AT and T is
Speaker 4: attracting new customers more than analysts expected. Maybe some evidence
Speaker 4: that AT and T is luring customers from rivals like
Speaker 4: Verizon in the highly competitive mobile phone market. It also
Speaker 4: reiterated its twenty twenty five full year guidance. The next
Speaker 4: big telecom to report is T Mobile on Thursday. But
Speaker 4: there are some good news out there for AT and
Speaker 4: T after the Verizon miss yesterday. AT and T up
Speaker 4: four and a half percent.
Speaker 3: All right, we'll giving us a preview what we're going
Speaker 3: to be talking about tomorrow. But let's talk about what
Speaker 3: we've been discussing well since late yesterday.
Speaker 1: Tesla.
Speaker 3: The earnings came in week, but Elon Musk's words have
Speaker 3: the stock surging this morning exactly.
Speaker 4: Tesla shares up nearly six point seven percent. It's leading
Speaker 4: gains across the mag seven this morning. This all comes
Speaker 4: after Elon Musk said he will pull back significantly from
Speaker 4: his work with the US government next month. Musk made
Speaker 4: that announcement after the company did report force qured to
Speaker 4: profit and revenue that fell short of expectations. They also
Speaker 4: backed off an earlier forecast of sales growing this year.
Speaker 4: So some negative news in those company earnings, but the
Speaker 4: positive spin is that elong Musk is going to be
Speaker 4: spending more time working on Tesla rather than at Doze
Speaker 4: within the government. And the market really likes what it hears,
Speaker 4: with that six point six percent higher for that Tesla
Speaker 4: share trading at two hundred and fifty three dollars a share.
Speaker 3: Now, we generally talk about the market likes what it
Speaker 3: hears when it hears job cuts coming from many companies.
Speaker 3: That seems to be the case this morning as well
Speaker 3: for Intel. Definitely the case for Intel.
Speaker 4: Intel's up nearly five percent so far this morning in
Speaker 4: pre market trade. The company is expected to announce plans
Speaker 4: to cut more than twenty percent of.
Speaker 1: Its staff this week.
Speaker 4: The source says the move is part of a big
Speaker 4: bid to streamline management, eliminate bureocracy, rebuild the engineering a
Speaker 4: driven culture at the struggling chip maker. And now this
Speaker 4: report comes ahead of Intel's first quarter results which are
Speaker 4: coming on Thursday, which may give the CEO an opportunity
Speaker 4: to flesh out this a bit more, lay out more
Speaker 4: of his strategy regarding these redundancies. But the shares of
Speaker 4: Intel up nearly five percent this morning after there was
Speaker 4: a report to announce plans to cut more than twenty
Speaker 4: percent of its staff.
Speaker 3: Now, another big tech company across the pond is seeing
Speaker 3: a big move this morning. Tell Us What's happening with SAP.
Speaker 4: SAP yep of ten percent in Germany this morning. This
Speaker 4: is the German business software group, known as the bigger
Speaker 4: tech company here in Europe, gaining the most in six
Speaker 4: years after first quarter profit topped analyst estimates. It was
Speaker 4: fueled all by this pivot to cloud services, but seems
Speaker 4: to be paying off for this German software group. That's
Speaker 4: SAP up near ten percent. The stock has risen thirty
Speaker 4: six percent over the last year. Its value has now
Speaker 4: eclipsed to other European companies such as Novo, Nordes, the
Speaker 4: drug maker, and LVMH In March, the.
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Speaker 2: throughout the day for the latest roundup of companies making
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