WEBVTT - Tesla Falls, Intel Rises, Carmax Sales Shortfall

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Jim Statific along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today with us

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<v Speaker 3>is Bloomberg News process at reporter Emily GRIFFEO Emily. The

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<v Speaker 3>mag seven taking a bit of a hit today among

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<v Speaker 3>the worst movers. When it comes to mag seven, an

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<v Speaker 3>EV company, then what do we call it an EV

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<v Speaker 3>company anymore?

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<v Speaker 2>Yeah?

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<v Speaker 4>An EV company and robotics and AI technology. Have you

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<v Speaker 4>not seen, Michael, that they do humanoid robots?

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<v Speaker 3>I've seen what they sell it it's mostly cars. We're

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<v Speaker 3>talking about Tesla.

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<v Speaker 4>Right, We're talking about Tesla. Yes, ticker t SLA biggest

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<v Speaker 4>injur Day drop since July. It was down over five percent.

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<v Speaker 4>It's regained a little bit, but it's still down about

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<v Speaker 4>four percent. After data showing that European sales of the

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<v Speaker 4>carmaker fell twenty two percent in August, so that gives

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<v Speaker 4>the company a market share in Europe of just one

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<v Speaker 4>point nine percent. This is a report from the European

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<v Speaker 4>Automobile Manufacturers Association. We get this report every month. It

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<v Speaker 4>actually often tends to move Tesla's stock price. And Europeans

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<v Speaker 4>are still buying other evs, but just not Tesla's as much.

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<v Speaker 4>We did see ev sales rise in the region in August,

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<v Speaker 4>but the Tesla sales dropping.

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<v Speaker 2>Not so good.

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<v Speaker 1>Not so good. On the flip side, Intel continuing to

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<v Speaker 1>have another good day.

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<v Speaker 4>Yeah, Intel extending gains for a third day. It's up

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<v Speaker 4>seven percent and it's extending again after Bloomberg reported yesterday

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<v Speaker 4>that the chip maker had approached Apple to ask for

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<v Speaker 4>an investment. This is just the latest of a series

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<v Speaker 4>of Intel headlines that we've gotten in the last couple weeks.

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<v Speaker 4>The stock is up thirty six percent over the last month,

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<v Speaker 4>and this is tigger intc Intel. Our reporting is citing

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<v Speaker 4>people familiar with the matter. The latest that we know

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<v Speaker 4>now is that Apple and Intel have also discussed how

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<v Speaker 4>to work more closely together, and that the talks are

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<v Speaker 4>early stage and may not lead to an agreement. But

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<v Speaker 4>the headline here is that Intel approach Apple for an investment.

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<v Speaker 1>Well, and it's our Mark German said, because we were

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<v Speaker 1>talking to him, like why would Apple do it? And

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<v Speaker 1>we really talked about kind of political clout. I was

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<v Speaker 1>calling it the presidential diplomacy or ceo presidential diplomacy. But

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<v Speaker 1>it's kind of interesting. But he says, you know, tech CEOs,

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<v Speaker 1>they kind of talk to each other all the time,

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<v Speaker 1>these big two guys.

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<v Speaker 4>Yeah, this would be you know, like like we said,

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<v Speaker 4>the string in the latest of different investments. Obviously, last

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<v Speaker 4>week we saw five billion dollar investment by Nvidia, Intel, Intel,

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<v Speaker 4>we've seen the actual US government investing. And just for

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<v Speaker 4>context here, I'm sure you guys know because you talked

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<v Speaker 4>to a lot of tech analysts. But Apple was a

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<v Speaker 4>longtime Intel customer but then switched to in house processors

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<v Speaker 4>in the past five years, so maybe they're going back.

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<v Speaker 4>Who knows, what do you want to go? CarMax. So

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<v Speaker 4>Intel was the best performer in the S and P

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<v Speaker 4>five hundred. Today the worst performer is CarMax, the used

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<v Speaker 4>car retailer, plunging down twenty percent to five year lows.

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<v Speaker 4>Bad earnings. They missed EPs, net sales and operating revenue,

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<v Speaker 4>and the street was pretty vocal about this earnings report.

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<v Speaker 4>So Truest Financial Services said this was a quote miss

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<v Speaker 4>across the board with quote really nothing good to see

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<v Speaker 4>for carmas used vehicle sales coming in at five point

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<v Speaker 4>two seven billion dollars, but that was down seven point

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<v Speaker 4>two percent year over year and also missed estimates. The

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<v Speaker 4>auto retailer actually pointed to a fallout from Trump's tariffs

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<v Speaker 4>and rising distress among consumers as it reported these earnings.

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<v Speaker 3>You know, I don't understand the environment here because I

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<v Speaker 3>saw that. That's I saw that too, Emily, And just

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<v Speaker 3>in our program Bloomberg Business Week Daily earlier on Thursday,

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<v Speaker 3>we spoke with the CFO of a firm, Rob O'Hare,

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<v Speaker 3>who said, the consumer is great right now. Everything we

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<v Speaker 3>are seeing is fine.

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<v Speaker 1>I am so confused.

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<v Speaker 3>So if CarMax is out saying that the tariffs have

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<v Speaker 3>caused this distress and people are pulling back, right, what

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<v Speaker 3>are they saying? Look, her car is a big purchase.

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<v Speaker 3>But yeah, if they're not seeing that at a firm,

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<v Speaker 3>then I don't know what gifts I don't know.

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<v Speaker 1>Right, these are the crossairs that we can't play for

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<v Speaker 1>the uncertainty.

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<v Speaker 4>Even our very own FED chair Jerome Powell, was talking

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<v Speaker 4>recently about just how much uncertainty there is for business leaders.

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<v Speaker 4>So yeah, CarMax takerr K m X down now almost

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<v Speaker 4>twenty percent.

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<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

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