Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: This is the closing bell on the stock movers report
Speaker 2: the company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenoveck, Romaine Bostik, and Katie Greifel.
Speaker 3: Wow, what a month. Unbelievable. I'm going to go back
Speaker 3: to the day if I may. Katie, You've got three
Speaker 3: hundred and eighty names in the s and P five
Speaker 3: hundred higher for the session, one hundred and twenty to
Speaker 3: the downside, three unchanged.
Speaker 4: If you take a look at the circle, it is
Speaker 4: fascinating today because you have all of the screen on
Speaker 4: the screen, and then you take a look at information
Speaker 4: technology as a sector was actually lower by about six
Speaker 4: tenths of a percent. What a tug of war was
Speaker 4: going on in that slice of the pie because you
Speaker 4: had Broadcomamd, Qualcom, Apple, et cetera really trying to push
Speaker 4: the sector higher. But then on the downside Nvidia and
Speaker 4: Microsoft just too big to or overcome Oracle as well. Carol,
Speaker 4: Definitely a really interesting sector performance today.
Speaker 3: All right, guys, we've got some earnings crossing the Bloomberg.
Speaker 3: Let's go to Rivian out with its numbers first quarter
Speaker 3: production two hundred and thirty six vehicles.
Speaker 5: That's a little bit light.
Speaker 3: The street was looking for a number more like ten
Speaker 3: thy three hundred and eleven first quarter cash and cash equivalents.
Speaker 3: That too, is below what the street was forecasting. What
Speaker 3: the actual number was two point eighty five billion dollars.
Speaker 3: Street was looking guys for more like three point six billion.
Speaker 3: Right now, the stock just down a hair down about
Speaker 3: three tens of a percent. All right, as we wait
Speaker 3: for more earnings, Let's go to some of the top
Speaker 3: gainers around the markets today. Qualcom a top gainer in
Speaker 3: the S and P and the Nasdaq one hundred. We
Speaker 3: got those earnings late yesterday and that stock was up
Speaker 3: fifteen percent in today's session, up the most in seven years.
Speaker 3: I believe that's at the close in intra day as well,
Speaker 3: rallying after the company said it was making headway in
Speaker 3: the lucrative data center market, and it also predicted that
Speaker 3: the A phone industry would bounce back. This top high
Speaker 3: top I should say, a top hyperscaler on track to
Speaker 3: begin using Qualcomm's components later this year, and the company
Speaker 3: has become more optimistic about the market seeing AI data.
Speaker 5: Centers as a major source of potential growth. We've got
Speaker 5: some more earnings remain. Yeah, let's get to Roku.
Speaker 1: The shares up about ten percent in the after hours trade.
Speaker 1: Revenue in the most recent quarter coming in relatively inline
Speaker 1: with estimates at about one point two five billion dollars,
Speaker 1: but the guidance for the next quarter here you go.
Speaker 1: Net revenue for the second quarter one point three billion,
Speaker 1: the street was looking for one.
Speaker 5: Point twenty nine, so kind of just on the nose
Speaker 5: they are.
Speaker 1: Gross profit, though, is coming in slightly above estimates. The
Speaker 1: company anticipating five hundred and eighty million dollars for the
Speaker 1: second quarter. The street was looking for five sixty eight.
Speaker 1: A similar story for adjusted ebadah here and here's your
Speaker 1: full year revenue outlook. The company says expect about five
Speaker 1: point five billion dollars in revenue for the full year.
Speaker 1: That's pretty much on the nose of what the street
Speaker 1: was looking for for the year as well.
Speaker 4: I mean, well, let's take a quick look at Rivian again.
Speaker 4: They just reported earnings. They're also coming out and saying
Speaker 4: their first quarter revenue came in at one point three
Speaker 4: eight billion dollars. That is just below the estimate of
Speaker 4: about one point three nine billion dollars first quarter vehicles
Speaker 4: delivered coming in at ten thousand, three hundred and sixty five.
Speaker 4: That is actually a little bit better than the estimate
Speaker 4: for about ten thousand, two hundred and seventy nine. You
Speaker 4: can see that the shares lower by about one point
Speaker 4: one percent, and I mean rivian overall, Carol has been
Speaker 4: a really rocky story.
Speaker 3: Yeah, absolutely, just bringing up on my Bloomberg stocks down
Speaker 3: about sixteen seventeen percent here today, But as you said,
Speaker 3: the story much more tricky. All right, Let's go back
Speaker 3: to some of the individual gainers I mentioned Qualcom. Alphabet
Speaker 3: of course, parent of Google, definitely an outperformer in today's session,
Speaker 3: top of the Nasdaq one hundred, up about ten percent
Speaker 3: in today's trade.
Speaker 5: We've been talking about it.
Speaker 3: I'm sure you guys have as well, this one leading
Speaker 3: gains among the mags seven. After last night's deluge of
Speaker 3: big tech earnings from Alphabet, Amazon, Met and Microsoft, the
Speaker 3: search giant reported high demand for its cloud and artificial
Speaker 3: intell Legen's products, which really was you know, the key
Speaker 3: thing is that they're spending, yes, indeed, but they're also
Speaker 3: showing some return on investment. So you saw some outperformance there,
Speaker 3: and I just want to mention something different. Terradyne also
Speaker 3: an interesting trade where the stock was down about nineteen
Speaker 3: percent yesterday, investors moving back in up about twelve percent.
Speaker 3: Top of the S and P five hundred investors weighing in.
Speaker 3: Analysts weighing in JP Morgan upgrade the semiconductor manufacturing company
Speaker 3: to overweight from neutral against the drop yesterday. There were
Speaker 3: some other upgrades and some price target raises as well.
Speaker 3: Tarradine did fall on some likely disappointing forecasts.
Speaker 5: That was what we got from the company.
Speaker 3: The selloff though from JP Morgan offers materially higher upside
Speaker 3: for the shares and a largely unchanged revenue trajectory in
Speaker 3: our expectations with moderation and revenues in the second have
Speaker 3: only reflective of the timing of programs and purchases rather than.
Speaker 5: Changing the long term growth trajectory.
Speaker 3: Basically, some upbeat thoughts, and you saw invest just coming
Speaker 3: back tim over to you.
Speaker 6: Okay, I'm looking at shares IMAX in the after hours
Speaker 6: right now. First quarter revenue coming in above estimates at
Speaker 6: eighty one point four million dollars. First quarter adjusted Ebitduck
Speaker 6: coming in just below estimates at thirty point five million dollars.
Speaker 6: First quarter adjusted earnings per share coming in just above estimates.
Speaker 6: It's seventeen cents per share. First quarter adjusted earning earnings
Speaker 6: per share did beat estimates in terms of stock is
Speaker 6: unchanged in the after hours. That's IMAX for you.
Speaker 1: No hang on, guys, can we go? I just want
Speaker 1: to take a quick look here at Western Digital ACTU.
Speaker 1: You're just crossing the wire. Remember this is the third
Speaker 1: best performance socket in the SMP five hundred more than
Speaker 1: one hundred and fifty percent. The share is now down
Speaker 1: in the after hours trade after the company reported net
Speaker 1: revenue that's relatively in line with estimates that about three
Speaker 1: point three four billion dollars. The street was looking for
Speaker 1: three point two three. But the company does say is
Speaker 1: for the current quarter, the fiscal fourth quarter operating expenses
Speaker 1: will be a nudge higher three eighty five to three
Speaker 1: hundred and ninety five million dollars, and it does say
Speaker 1: though that gross margin will be in a range of
Speaker 1: fifty one to fifty two percent. I'm sure the comparison there,
Speaker 1: but it does look like the street was guiding just
Speaker 1: a touch below that here, So that looks like that
Speaker 1: could be a beat, but you see the negative reaction
Speaker 1: there in the shares, all for the third best performing
Speaker 1: stock in the SMP this year.
Speaker 3: All right, let's go on over to Roadblocks, also coming
Speaker 3: out with its numbers.
Speaker 5: Let's get to the forecast.
Speaker 3: The company sees fiscal year revenue a five point eighty
Speaker 3: seven billion to six point one four billion. It had
Speaker 3: seen six point zero two billion to six point twenty
Speaker 3: nine billion, so interesting in terms of the range. There
Speaker 3: sees fiscal year bookings seven point thirty three billion to
Speaker 3: seven point six billion. It had seen a number way
Speaker 3: above that at eight point two eight billion to eight
Speaker 3: point fifty five billion. You can see Roadblocks getting killed
Speaker 3: in the aftermarket, down about twenty percent here. Also see
Speaker 3: second quarter bookings as we mentioned, one point fifty five
Speaker 3: billion to one point sixty one. The estimate was above
Speaker 3: that at almost one point nine First quarter daily active
Speaker 3: users one hundred and thirty two million, folks, That is
Speaker 3: also light. One hundred and forty three point eight million
Speaker 3: was what the street was looking for. Again, Katie, that's
Speaker 3: stocked down about twenty two percent after market.
Speaker 4: All right, let's get on over to Reddit reporting right now,
Speaker 4: second quarter adjusted EBITA the forecast beating estimates here. They
Speaker 4: see that number coming in for the second quarter between
Speaker 4: two hundred and eighty five million to two hundred and
Speaker 4: ninety five million. The estimate had been for two hundred
Speaker 4: and seventy five point five million dollars. So you can
Speaker 4: see that a little bit of a beat there. When
Speaker 4: it comes to the look behind though, first quarter daily
Speaker 4: active users coming in at one hundred one hundred two hundred,
Speaker 4: one hundred and twenty six Che's louis zero point eight
Speaker 4: million users. That is slightly above of the estimates there.
Speaker 4: But you can see through the stock taking a little
Speaker 4: bit of a dip lower rate now currently lower by
Speaker 4: about two percent.
Speaker 6: All right, I'm going to at Lassian ticker TAM. Shares
Speaker 6: are surging in the after hours this after the company
Speaker 6: up twelve point two percent. The company reported third quarter
Speaker 6: revenue that beat estimates. As far as the outlook goes,
Speaker 6: fourth quarter revenue one point sixty five one point six
Speaker 6: six billion dollars. The estimu was for one point sixty
Speaker 6: six billion dollars. The beat on earnings, They beat on revenue.
Speaker 6: Let's look at third quarter revenue one point seven nine
Speaker 6: billion dollars. The estimates for one point six nine billion dollars.
Speaker 6: Third quarter at just dps came in above estimates at
Speaker 6: one dollar and seventy five cents. Third quarter cloud revenue
Speaker 6: came in above estimates at one point one three billion,
Speaker 6: and it's that operating margin at thirty four percent where
Speaker 6: the estimate was for twenty seven point six percent. That
Speaker 6: also helping shares in the after hours up. Let's call
Speaker 6: that twelve percent.
Speaker 3: All right, So that one is going higher at LASTI
Speaker 3: and SanDisk going in the other direction. After posting it's
Speaker 3: third quarter results. The company sees fourth quarter revenue, so
Speaker 3: this is the outlook. Sees fourth quarter revenue of seven
Speaker 3: point seventy five billion to eight point twenty five billion.
Speaker 5: That seems to be a big beat here.
Speaker 3: Just looking to see if there's any other headlines here,
Speaker 3: just starting to trickle out, and it does look like
Speaker 3: third quarter revenue that did beat the average analyst estimates,
Speaker 3: so we'll keep an eye on that one.
Speaker 5: But definitely some movement, all right, guys.
Speaker 2: That is a wrap the Stockmovers report from Bloomberg Radio.
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