WEBVTT - Closing Bell: Rivian Delivers Earnings, Qualcomm Rallies, Roblox Crates Afterhours 

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

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<v Speaker 2>This is the closing bell on the stock movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenoveck, Romaine Bostik, and Katie Greifel.

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<v Speaker 3>Wow, what a month. Unbelievable. I'm going to go back

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<v Speaker 3>to the day if I may. Katie, You've got three

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<v Speaker 3>hundred and eighty names in the s and P five

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<v Speaker 3>hundred higher for the session, one hundred and twenty to

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<v Speaker 3>the downside, three unchanged.

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<v Speaker 4>If you take a look at the circle, it is

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<v Speaker 4>fascinating today because you have all of the screen on

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<v Speaker 4>the screen, and then you take a look at information

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<v Speaker 4>technology as a sector was actually lower by about six

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<v Speaker 4>tenths of a percent. What a tug of war was

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<v Speaker 4>going on in that slice of the pie because you

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<v Speaker 4>had Broadcomamd, Qualcom, Apple, et cetera really trying to push

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<v Speaker 4>the sector higher. But then on the downside Nvidia and

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<v Speaker 4>Microsoft just too big to or overcome Oracle as well. Carol,

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<v Speaker 4>Definitely a really interesting sector performance today.

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<v Speaker 3>All right, guys, we've got some earnings crossing the Bloomberg.

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<v Speaker 3>Let's go to Rivian out with its numbers first quarter

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<v Speaker 3>production two hundred and thirty six vehicles.

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<v Speaker 5>That's a little bit light.

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<v Speaker 3>The street was looking for a number more like ten

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<v Speaker 3>thy three hundred and eleven first quarter cash and cash equivalents.

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<v Speaker 3>That too, is below what the street was forecasting. What

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<v Speaker 3>the actual number was two point eighty five billion dollars.

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<v Speaker 3>Street was looking guys for more like three point six billion.

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<v Speaker 3>Right now, the stock just down a hair down about

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<v Speaker 3>three tens of a percent. All right, as we wait

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<v Speaker 3>for more earnings, Let's go to some of the top

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<v Speaker 3>gainers around the markets today. Qualcom a top gainer in

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<v Speaker 3>the S and P and the Nasdaq one hundred. We

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<v Speaker 3>got those earnings late yesterday and that stock was up

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<v Speaker 3>fifteen percent in today's session, up the most in seven years.

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<v Speaker 3>I believe that's at the close in intra day as well,

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<v Speaker 3>rallying after the company said it was making headway in

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<v Speaker 3>the lucrative data center market, and it also predicted that

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<v Speaker 3>the A phone industry would bounce back. This top high

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<v Speaker 3>top I should say, a top hyperscaler on track to

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<v Speaker 3>begin using Qualcomm's components later this year, and the company

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<v Speaker 3>has become more optimistic about the market seeing AI data.

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<v Speaker 5>Centers as a major source of potential growth. We've got

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<v Speaker 5>some more earnings remain. Yeah, let's get to Roku.

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<v Speaker 1>The shares up about ten percent in the after hours trade.

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<v Speaker 1>Revenue in the most recent quarter coming in relatively inline

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<v Speaker 1>with estimates at about one point two five billion dollars,

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<v Speaker 1>but the guidance for the next quarter here you go.

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<v Speaker 1>Net revenue for the second quarter one point three billion,

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<v Speaker 1>the street was looking for one.

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<v Speaker 5>Point twenty nine, so kind of just on the nose

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<v Speaker 5>they are.

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<v Speaker 1>Gross profit, though, is coming in slightly above estimates. The

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<v Speaker 1>company anticipating five hundred and eighty million dollars for the

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<v Speaker 1>second quarter. The street was looking for five sixty eight.

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<v Speaker 1>A similar story for adjusted ebadah here and here's your

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<v Speaker 1>full year revenue outlook. The company says expect about five

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<v Speaker 1>point five billion dollars in revenue for the full year.

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<v Speaker 1>That's pretty much on the nose of what the street

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<v Speaker 1>was looking for for the year as well.

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<v Speaker 4>I mean, well, let's take a quick look at Rivian again.

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<v Speaker 4>They just reported earnings. They're also coming out and saying

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<v Speaker 4>their first quarter revenue came in at one point three

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<v Speaker 4>eight billion dollars. That is just below the estimate of

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<v Speaker 4>about one point three nine billion dollars first quarter vehicles

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<v Speaker 4>delivered coming in at ten thousand, three hundred and sixty five.

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<v Speaker 4>That is actually a little bit better than the estimate

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<v Speaker 4>for about ten thousand, two hundred and seventy nine. You

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<v Speaker 4>can see that the shares lower by about one point

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<v Speaker 4>one percent, and I mean rivian overall, Carol has been

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<v Speaker 4>a really rocky story.

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<v Speaker 3>Yeah, absolutely, just bringing up on my Bloomberg stocks down

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<v Speaker 3>about sixteen seventeen percent here today, But as you said,

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<v Speaker 3>the story much more tricky. All right, Let's go back

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<v Speaker 3>to some of the individual gainers I mentioned Qualcom. Alphabet

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<v Speaker 3>of course, parent of Google, definitely an outperformer in today's session,

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<v Speaker 3>top of the Nasdaq one hundred, up about ten percent

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<v Speaker 3>in today's trade.

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<v Speaker 5>We've been talking about it.

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<v Speaker 3>I'm sure you guys have as well, this one leading

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<v Speaker 3>gains among the mags seven. After last night's deluge of

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<v Speaker 3>big tech earnings from Alphabet, Amazon, Met and Microsoft, the

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<v Speaker 3>search giant reported high demand for its cloud and artificial

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<v Speaker 3>intell Legen's products, which really was you know, the key

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<v Speaker 3>thing is that they're spending, yes, indeed, but they're also

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<v Speaker 3>showing some return on investment. So you saw some outperformance there,

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<v Speaker 3>and I just want to mention something different. Terradyne also

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<v Speaker 3>an interesting trade where the stock was down about nineteen

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<v Speaker 3>percent yesterday, investors moving back in up about twelve percent.

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<v Speaker 3>Top of the S and P five hundred investors weighing in.

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<v Speaker 3>Analysts weighing in JP Morgan upgrade the semiconductor manufacturing company

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<v Speaker 3>to overweight from neutral against the drop yesterday. There were

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<v Speaker 3>some other upgrades and some price target raises as well.

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<v Speaker 3>Tarradine did fall on some likely disappointing forecasts.

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<v Speaker 5>That was what we got from the company.

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<v Speaker 3>The selloff though from JP Morgan offers materially higher upside

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<v Speaker 3>for the shares and a largely unchanged revenue trajectory in

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<v Speaker 3>our expectations with moderation and revenues in the second have

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<v Speaker 3>only reflective of the timing of programs and purchases rather than.

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<v Speaker 5>Changing the long term growth trajectory.

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<v Speaker 3>Basically, some upbeat thoughts, and you saw invest just coming

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<v Speaker 3>back tim over to you.

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<v Speaker 6>Okay, I'm looking at shares IMAX in the after hours

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<v Speaker 6>right now. First quarter revenue coming in above estimates at

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<v Speaker 6>eighty one point four million dollars. First quarter adjusted Ebitduck

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<v Speaker 6>coming in just below estimates at thirty point five million dollars.

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<v Speaker 6>First quarter adjusted earnings per share coming in just above estimates.

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<v Speaker 6>It's seventeen cents per share. First quarter adjusted earning earnings

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<v Speaker 6>per share did beat estimates in terms of stock is

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<v Speaker 6>unchanged in the after hours. That's IMAX for you.

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<v Speaker 1>No hang on, guys, can we go? I just want

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<v Speaker 1>to take a quick look here at Western Digital ACTU.

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<v Speaker 1>You're just crossing the wire. Remember this is the third

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<v Speaker 1>best performance socket in the SMP five hundred more than

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<v Speaker 1>one hundred and fifty percent. The share is now down

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<v Speaker 1>in the after hours trade after the company reported net

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<v Speaker 1>revenue that's relatively in line with estimates that about three

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<v Speaker 1>point three four billion dollars. The street was looking for

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<v Speaker 1>three point two three. But the company does say is

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<v Speaker 1>for the current quarter, the fiscal fourth quarter operating expenses

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<v Speaker 1>will be a nudge higher three eighty five to three

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<v Speaker 1>hundred and ninety five million dollars, and it does say

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<v Speaker 1>though that gross margin will be in a range of

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<v Speaker 1>fifty one to fifty two percent. I'm sure the comparison there,

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<v Speaker 1>but it does look like the street was guiding just

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<v Speaker 1>a touch below that here, So that looks like that

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<v Speaker 1>could be a beat, but you see the negative reaction

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<v Speaker 1>there in the shares, all for the third best performing

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<v Speaker 1>stock in the SMP this year.

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<v Speaker 3>All right, let's go on over to Roadblocks, also coming

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<v Speaker 3>out with its numbers.

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<v Speaker 5>Let's get to the forecast.

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<v Speaker 3>The company sees fiscal year revenue a five point eighty

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<v Speaker 3>seven billion to six point one four billion. It had

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<v Speaker 3>seen six point zero two billion to six point twenty

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<v Speaker 3>nine billion, so interesting in terms of the range. There

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<v Speaker 3>sees fiscal year bookings seven point thirty three billion to

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<v Speaker 3>seven point six billion. It had seen a number way

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<v Speaker 3>above that at eight point two eight billion to eight

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<v Speaker 3>point fifty five billion. You can see Roadblocks getting killed

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<v Speaker 3>in the aftermarket, down about twenty percent here. Also see

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<v Speaker 3>second quarter bookings as we mentioned, one point fifty five

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<v Speaker 3>billion to one point sixty one. The estimate was above

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<v Speaker 3>that at almost one point nine First quarter daily active

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<v Speaker 3>users one hundred and thirty two million, folks, That is

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<v Speaker 3>also light. One hundred and forty three point eight million

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<v Speaker 3>was what the street was looking for. Again, Katie, that's

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<v Speaker 3>stocked down about twenty two percent after market.

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<v Speaker 4>All right, let's get on over to Reddit reporting right now,

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<v Speaker 4>second quarter adjusted EBITA the forecast beating estimates here. They

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<v Speaker 4>see that number coming in for the second quarter between

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<v Speaker 4>two hundred and eighty five million to two hundred and

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<v Speaker 4>ninety five million. The estimate had been for two hundred

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<v Speaker 4>and seventy five point five million dollars. So you can

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<v Speaker 4>see that a little bit of a beat there. When

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<v Speaker 4>it comes to the look behind though, first quarter daily

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<v Speaker 4>active users coming in at one hundred one hundred two hundred,

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<v Speaker 4>one hundred and twenty six Che's louis zero point eight

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<v Speaker 4>million users. That is slightly above of the estimates there.

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<v Speaker 4>But you can see through the stock taking a little

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<v Speaker 4>bit of a dip lower rate now currently lower by

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<v Speaker 4>about two percent.

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<v Speaker 6>All right, I'm going to at Lassian ticker TAM. Shares

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<v Speaker 6>are surging in the after hours this after the company

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<v Speaker 6>up twelve point two percent. The company reported third quarter

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<v Speaker 6>revenue that beat estimates. As far as the outlook goes,

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<v Speaker 6>fourth quarter revenue one point sixty five one point six

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<v Speaker 6>six billion dollars. The estimu was for one point sixty

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<v Speaker 6>six billion dollars. The beat on earnings, They beat on revenue.

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<v Speaker 6>Let's look at third quarter revenue one point seven nine

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<v Speaker 6>billion dollars. The estimates for one point six nine billion dollars.

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<v Speaker 6>Third quarter at just dps came in above estimates at

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<v Speaker 6>one dollar and seventy five cents. Third quarter cloud revenue

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<v Speaker 6>came in above estimates at one point one three billion,

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<v Speaker 6>and it's that operating margin at thirty four percent where

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<v Speaker 6>the estimate was for twenty seven point six percent. That

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<v Speaker 6>also helping shares in the after hours up. Let's call

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<v Speaker 6>that twelve percent.

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<v Speaker 3>All right, So that one is going higher at LASTI

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<v Speaker 3>and SanDisk going in the other direction. After posting it's

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<v Speaker 3>third quarter results. The company sees fourth quarter revenue, so

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<v Speaker 3>this is the outlook. Sees fourth quarter revenue of seven

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<v Speaker 3>point seventy five billion to eight point twenty five billion.

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<v Speaker 5>That seems to be a big beat here.

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<v Speaker 3>Just looking to see if there's any other headlines here,

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<v Speaker 3>just starting to trickle out, and it does look like

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<v Speaker 3>third quarter revenue that did beat the average analyst estimates,

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<v Speaker 3>so we'll keep an eye on that one.

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<v Speaker 5>But definitely some movement, all right, guys.

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<v Speaker 2>That is a wrap the Stockmovers report from Bloomberg Radio.

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<v Speaker 2>Check back with us throughout the day for the latest

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<v Speaker 2>roundup of companies making news on Wall Street, and for

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<v Speaker 2>the latest market moving headlines, listen to Bloomberg Radio Live.

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