WEBVTT - Apple Rises, Roblox Plunges, Reddit Gains on Continued Ads Growth

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.080
<v Speaker 2>in the stock market. Harnessing the power of Bloomberg.

0:00:15.600 --> 0:00:17.439
<v Speaker 3>Data, Let's take a look at what's happening with some

0:00:17.480 --> 0:00:20.320
<v Speaker 3>individual stocks. We do that with Avlon PRONELL Equity is

0:00:20.320 --> 0:00:22.560
<v Speaker 3>your reporter for of a Bloomberg News atlin. What are

0:00:22.560 --> 0:00:23.200
<v Speaker 3>you looking at today?

0:00:23.360 --> 0:00:26.239
<v Speaker 1>Well, we have to start with Apple. Let's ticker AAPL

0:00:26.440 --> 0:00:30.120
<v Speaker 1>currently up five point six percent most intra day since August.

0:00:30.440 --> 0:00:33.159
<v Speaker 1>That's after the tech company reported second quarter results that

0:00:33.200 --> 0:00:36.520
<v Speaker 1>were way above expectations practically across the board. It also

0:00:36.560 --> 0:00:40.240
<v Speaker 1>delivered a pretty surprisingly strong revenue forecast for the third quarter.

0:00:40.600 --> 0:00:43.960
<v Speaker 1>That's despite warning that memory chips are continuing to increase

0:00:43.960 --> 0:00:47.320
<v Speaker 1>in cost and that MAC shortages could linger. JP Morgan's

0:00:47.320 --> 0:00:50.920
<v Speaker 1>writing that Apple cleared the margin hurdle again as product

0:00:50.920 --> 0:00:54.720
<v Speaker 1>momentum and supply management continues to drive roubust shares gains.

0:00:55.160 --> 0:00:57.720
<v Speaker 4>My favorite stat from the earnings is the fact that

0:00:57.720 --> 0:00:59.800
<v Speaker 4>Apple's going to buy back up to one hundred billion

0:00:59.840 --> 0:01:01.720
<v Speaker 4>dollar or its own stock. I mean, the numbers are

0:01:01.760 --> 0:01:05.639
<v Speaker 4>just they boggle the mind. All right, next up.

0:01:06.080 --> 0:01:08.520
<v Speaker 1>Roadblocks, So definitely not as positive of a story here.

0:01:08.680 --> 0:01:10.840
<v Speaker 1>It's sinking eighteen percent to hit the lowest in to

0:01:10.920 --> 0:01:13.680
<v Speaker 1>day level since twenty twenty four. That's after the firm

0:01:13.680 --> 0:01:16.559
<v Speaker 1>reported daily active users for the first quarter that fell

0:01:16.680 --> 0:01:19.640
<v Speaker 1>very far below expectations. It also slashed its full year

0:01:19.640 --> 0:01:23.560
<v Speaker 1>bookings forecast and issued second quarter guidance that fill below expectations.

0:01:23.880 --> 0:01:27.520
<v Speaker 1>That's all coming after Roadblocks implemented several safety features that

0:01:27.560 --> 0:01:30.400
<v Speaker 1>are restricting how kids can use the platform. They faced

0:01:30.400 --> 0:01:32.160
<v Speaker 1>a lot of scrutiny in the past couple of months

0:01:32.240 --> 0:01:35.480
<v Speaker 1>and years over those child safety issues, and have even

0:01:35.520 --> 0:01:39.199
<v Speaker 1>reached some settlements. But Jeffries is writing that while expectations

0:01:39.200 --> 0:01:41.840
<v Speaker 1>were already very low going into the print forecast, miss

0:01:41.880 --> 0:01:43.959
<v Speaker 1>will continue to fuel the barecase for the stock.

0:01:44.360 --> 0:01:46.080
<v Speaker 3>All Right, I'm going to throw the old guy card

0:01:46.160 --> 0:01:47.680
<v Speaker 3>on the table. I don't know what redd it is.

0:01:47.760 --> 0:01:50.160
<v Speaker 3>Can you explain what really god and then tell me

0:01:50.160 --> 0:01:50.800
<v Speaker 3>about the stock?

0:01:51.080 --> 0:01:54.080
<v Speaker 1>I mean, Reddit is an online forum, so that's ticker RDDT.

0:01:54.280 --> 0:01:57.280
<v Speaker 1>So basically you can go onto any question that you

0:01:57.280 --> 0:01:58.560
<v Speaker 1>could ask, what's.

0:01:58.360 --> 0:02:00.960
<v Speaker 4>The being you'd like to read about or you wonder about.

0:02:01.040 --> 0:02:02.760
<v Speaker 3>I'm not a deep guy much.

0:02:02.800 --> 0:02:05.080
<v Speaker 4>I couldn't know everything I need to tell I know,

0:02:05.200 --> 0:02:09.240
<v Speaker 4>everything says.

0:02:07.880 --> 0:02:10.400
<v Speaker 3>So much bandwidth I have. But it's a okay, So

0:02:10.440 --> 0:02:12.440
<v Speaker 3>it's a thing, it's a form, it's a it's a

0:02:12.480 --> 0:02:13.519
<v Speaker 3>stock as well.

0:02:13.520 --> 0:02:14.079
<v Speaker 4>It's a stock.

0:02:14.200 --> 0:02:16.639
<v Speaker 1>It is currently gaining nine point five percent. That's after

0:02:16.680 --> 0:02:20.160
<v Speaker 1>the firm beat sales expectations again on continued ads growth,

0:02:20.200 --> 0:02:22.679
<v Speaker 1>and that continues a really long streak of revenue growth

0:02:22.720 --> 0:02:25.400
<v Speaker 1>for the company. It also issued a sales forecast at

0:02:25.400 --> 0:02:29.480
<v Speaker 1>outpaced estimates Evercore, writing that Reddit's revenue growth continues to

0:02:29.480 --> 0:02:31.840
<v Speaker 1>be hard to beat and also worth noting that Bloomberg

0:02:31.840 --> 0:02:34.480
<v Speaker 1>had a great interview with reddit Coeo that said it

0:02:34.480 --> 0:02:37.040
<v Speaker 1>it's still an active discussions with Google and open Ai

0:02:37.200 --> 0:02:40.360
<v Speaker 1>about next steps related to its current licensing agreements. So

0:02:40.639 --> 0:02:42.120
<v Speaker 1>that's also potentially could.

0:02:41.960 --> 0:02:44.600
<v Speaker 4>Lead to some upside thirty one billion market cap.

0:02:44.680 --> 0:02:45.799
<v Speaker 2>So it's a real it's.

0:02:45.680 --> 0:02:47.480
<v Speaker 4>A real business. I okay, So what do I do

0:02:47.520 --> 0:02:49.000
<v Speaker 4>with How do you use Reddit? What do you do?

0:02:49.360 --> 0:02:52.880
<v Speaker 4>During the TSA shutdown or the time that they weren't

0:02:52.880 --> 0:02:54.880
<v Speaker 4>paying TSA. I would go on ready because I knew

0:02:54.880 --> 0:02:57.240
<v Speaker 4>I had to take a flight, and they would point

0:02:57.240 --> 0:02:59.120
<v Speaker 4>out how long the lines were, and they would take

0:02:59.160 --> 0:03:04.120
<v Speaker 4>pictures of five other Reddit users editors generally non redditors. Yes,

0:03:04.520 --> 0:03:07.560
<v Speaker 4>soddit app. Yeah, there's a reddit app, and there's all

0:03:07.560 --> 0:03:11.120
<v Speaker 4>these subreddits, these threads, and any topic you're interested in,

0:03:11.400 --> 0:03:13.840
<v Speaker 4>I guarantee you someone has written about it extensively and

0:03:13.880 --> 0:03:14.200
<v Speaker 4>they do.

0:03:14.280 --> 0:03:15.959
<v Speaker 3>See so I believe these people.

0:03:16.480 --> 0:03:18.600
<v Speaker 4>You don't have to, but you can. I mean, do

0:03:18.600 --> 0:03:21.320
<v Speaker 4>you believe anything you read on social media? True?

0:03:21.440 --> 0:03:23.079
<v Speaker 3>That's why? Yeah, all right, I.

0:03:23.040 --> 0:03:24.720
<v Speaker 4>Mean, but I mean some of the people who are

0:03:24.720 --> 0:03:27.040
<v Speaker 4>posting on there, they're not going to be posting about

0:03:27.080 --> 0:03:29.920
<v Speaker 4>the lines at JFK with a great detail about their

0:03:29.960 --> 0:03:32.120
<v Speaker 4>own experience unless they did it themselves. No one, no

0:03:32.120 --> 0:03:34.520
<v Speaker 4>one is that. How often you interact with reddit on it?

0:03:34.720 --> 0:03:36.960
<v Speaker 1>Well, my siblings are really into Reddit. I don't go

0:03:37.080 --> 0:03:39.880
<v Speaker 1>on as often, but like sometimes when I'm just looking

0:03:39.880 --> 0:03:42.360
<v Speaker 1>for restaurants in New York, they have some really good reviews.

0:03:42.360 --> 0:03:45.360
<v Speaker 4>When I was trying to apply for my Taiwan citizenship,

0:03:45.400 --> 0:03:47.400
<v Speaker 4>I went on Reddit and everyone has all these best

0:03:47.400 --> 0:03:49.560
<v Speaker 4>practices and like tips on how to do it, and

0:03:49.560 --> 0:03:50.840
<v Speaker 4>that was really really helpful.

0:03:50.960 --> 0:03:52.800
<v Speaker 3>So it's john just want to share it to for

0:03:52.800 --> 0:03:53.800
<v Speaker 3>for Google search.

0:03:53.880 --> 0:03:59.240
<v Speaker 4>It's another way to get information. Yeah, it's another crowdsource information. Crowdsourcing, yes, okay,

0:03:59.400 --> 0:04:01.040
<v Speaker 4>but very narrow topics.

0:04:01.800 --> 0:04:06.000
<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

0:04:06.080 --> 0:04:08.880
<v Speaker 2>throughout the day for the latest roundup of companies making

0:04:08.920 --> 0:04:12.560
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:04:12.760 --> 0:04:16.760
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:04:16.800 --> 0:04:19.880
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:04:19.920 --> 0:04:21.279
<v Speaker 2>Bloomberg Business app.