Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market. Harnessing the power of Bloomberg.
Speaker 3: Data, Let's take a look at what's happening with some
Speaker 3: individual stocks. We do that with Avlon PRONELL Equity is
Speaker 3: your reporter for of a Bloomberg News atlin. What are
Speaker 3: you looking at today?
Speaker 1: Well, we have to start with Apple. Let's ticker AAPL
Speaker 1: currently up five point six percent most intra day since August.
Speaker 1: That's after the tech company reported second quarter results that
Speaker 1: were way above expectations practically across the board. It also
Speaker 1: delivered a pretty surprisingly strong revenue forecast for the third quarter.
Speaker 1: That's despite warning that memory chips are continuing to increase
Speaker 1: in cost and that MAC shortages could linger. JP Morgan's
Speaker 1: writing that Apple cleared the margin hurdle again as product
Speaker 1: momentum and supply management continues to drive roubust shares gains.
Speaker 4: My favorite stat from the earnings is the fact that
Speaker 4: Apple's going to buy back up to one hundred billion
Speaker 4: dollar or its own stock. I mean, the numbers are
Speaker 4: just they boggle the mind. All right, next up.
Speaker 1: Roadblocks, So definitely not as positive of a story here.
Speaker 1: It's sinking eighteen percent to hit the lowest in to
Speaker 1: day level since twenty twenty four. That's after the firm
Speaker 1: reported daily active users for the first quarter that fell
Speaker 1: very far below expectations. It also slashed its full year
Speaker 1: bookings forecast and issued second quarter guidance that fill below expectations.
Speaker 1: That's all coming after Roadblocks implemented several safety features that
Speaker 1: are restricting how kids can use the platform. They faced
Speaker 1: a lot of scrutiny in the past couple of months
Speaker 1: and years over those child safety issues, and have even
Speaker 1: reached some settlements. But Jeffries is writing that while expectations
Speaker 1: were already very low going into the print forecast, miss
Speaker 1: will continue to fuel the barecase for the stock.
Speaker 3: All Right, I'm going to throw the old guy card
Speaker 3: on the table. I don't know what redd it is.
Speaker 3: Can you explain what really god and then tell me
Speaker 3: about the stock?
Speaker 1: I mean, Reddit is an online forum, so that's ticker RDDT.
Speaker 1: So basically you can go onto any question that you
Speaker 1: could ask, what's.
Speaker 4: The being you'd like to read about or you wonder about.
Speaker 3: I'm not a deep guy much.
Speaker 4: I couldn't know everything I need to tell I know,
Speaker 4: everything says.
Speaker 3: So much bandwidth I have. But it's a okay, So
Speaker 3: it's a thing, it's a form, it's a it's a
Speaker 3: stock as well.
Speaker 4: It's a stock.
Speaker 1: It is currently gaining nine point five percent. That's after
Speaker 1: the firm beat sales expectations again on continued ads growth,
Speaker 1: and that continues a really long streak of revenue growth
Speaker 1: for the company. It also issued a sales forecast at
Speaker 1: outpaced estimates Evercore, writing that Reddit's revenue growth continues to
Speaker 1: be hard to beat and also worth noting that Bloomberg
Speaker 1: had a great interview with reddit Coeo that said it
Speaker 1: it's still an active discussions with Google and open Ai
Speaker 1: about next steps related to its current licensing agreements. So
Speaker 1: that's also potentially could.
Speaker 4: Lead to some upside thirty one billion market cap.
Speaker 2: So it's a real it's.
Speaker 4: A real business. I okay, So what do I do
Speaker 4: with How do you use Reddit? What do you do?
Speaker 4: During the TSA shutdown or the time that they weren't
Speaker 4: paying TSA. I would go on ready because I knew
Speaker 4: I had to take a flight, and they would point
Speaker 4: out how long the lines were, and they would take
Speaker 4: pictures of five other Reddit users editors generally non redditors. Yes,
Speaker 4: soddit app. Yeah, there's a reddit app, and there's all
Speaker 4: these subreddits, these threads, and any topic you're interested in,
Speaker 4: I guarantee you someone has written about it extensively and
Speaker 4: they do.
Speaker 3: See so I believe these people.
Speaker 4: You don't have to, but you can. I mean, do
Speaker 4: you believe anything you read on social media? True?
Speaker 3: That's why? Yeah, all right, I.
Speaker 4: Mean, but I mean some of the people who are
Speaker 4: posting on there, they're not going to be posting about
Speaker 4: the lines at JFK with a great detail about their
Speaker 4: own experience unless they did it themselves. No one, no
Speaker 4: one is that. How often you interact with reddit on it?
Speaker 1: Well, my siblings are really into Reddit. I don't go
Speaker 1: on as often, but like sometimes when I'm just looking
Speaker 1: for restaurants in New York, they have some really good reviews.
Speaker 4: When I was trying to apply for my Taiwan citizenship,
Speaker 4: I went on Reddit and everyone has all these best
Speaker 4: practices and like tips on how to do it, and
Speaker 4: that was really really helpful.
Speaker 3: So it's john just want to share it to for
Speaker 3: for Google search.
Speaker 4: It's another way to get information. Yeah, it's another crowdsource information. Crowdsourcing, yes, okay,
Speaker 4: but very narrow topics.
Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us
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