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 Data.
Speaker 3: I'm Caerl Masser along with Tim Stanevek. We do want
Speaker 3: to also get to some stocks on the move with
Speaker 3: us as Bailly Lipsheltz, Bloomberg News Senior Equities reporter. Also
Speaker 3: with us, of course as Max Chafkin, Bloomberg Business Week
Speaker 3: Senior reporter, co host of the Everybody's Business podcast. And
Speaker 3: I can assume, Bailly, that your number one stock you're
Speaker 3: looking at in the aftermarket is SpaceX.
Speaker 4: None other than SpaceX ticker SPCX. For those of you
Speaker 4: trading the stock down seven percent, Max, It's funny because
Speaker 4: initially we say, okay, stock goes up four and a
Speaker 4: half percent post market earnings, look fine, No one really cares.
Speaker 1: But the main real driver is the stock was up.
Speaker 4: Almost sixteen percent in two days, so it's really just
Speaker 4: giving back some of those games, essentially trading to where
Speaker 4: it was this time yesterday. So I know the big
Speaker 4: thing to me, guys is we come into this everyone's like,
Speaker 4: oh SpaceX arnings. First off, it's typically SpaceX losses. Let's
Speaker 4: be real, don't call it results results. But it was
Speaker 4: interesting that Elon kind of kicked off the call. I
Speaker 4: don't know, Max, I didn't have that on my Bigo card.
Speaker 4: Did you make a Bingo card this year?
Speaker 5: There was no Beingo car, but of course I have
Speaker 5: my mental Bingo card at any time, you know, any
Speaker 5: On mus company reports earnings.
Speaker 6: Uh.
Speaker 5: I think Elon Musk loves to be at the center
Speaker 5: of these companies, and there's always been this tension with
Speaker 5: SpaceX because you know, unlike a Tesla, uh, SpaceX has
Speaker 5: a long time veteran well respected operating executive in president
Speaker 5: when shot well, and so there's always been this question, well, well,
Speaker 5: maybe they will sort of push her more to the center,
Speaker 5: especially as Elon Musk has grown more controversial. But I
Speaker 5: think when you're talking about the way this company is
Speaker 5: pivoted away from being the now, of course they do,
Speaker 5: as Tim was saying, they do have a lot of
Speaker 5: contracts with US government. Those contracts are just doing very well,
Speaker 5: thank you very much. But as they pivoted towards data
Speaker 5: centers and so on, then it becomes the Elon Musk show.
Speaker 5: It becomes here is the guy who spins a fantastical
Speaker 5: tale of the future to do that, and so far,
Speaker 5: I guess investors are kind of meh on it, meh
Speaker 5: for now.
Speaker 4: I mean, the thing that I've found fascinating covering this
Speaker 4: going into the IPO was Okay, no, this is a
Speaker 4: space monopoly. But then getting ready for the launch, it's like, well, actually,
Speaker 4: twenty six and a half of trillion of that twenty
Speaker 4: eight and a half trillion dollars TAM.
Speaker 1: Is really AI.
Speaker 4: So it's it's a space business, but like, let's sell
Speaker 4: the dream, much like Tesla, where don't worry about the
Speaker 4: actual underlying business.
Speaker 1: Look at the different levers we could pull.
Speaker 5: Well, the awkward thing about a monopoly is you don't
Speaker 5: have a lot of growth potential and so and so
Speaker 5: that is that I think that is the tension. They
Speaker 5: need to find a way to keep this advantage, which
Speaker 5: is that they launch most of the stuff to space
Speaker 5: while also spinning a growth story. And of course the
Speaker 5: way that they've opted to do that is via Starlink
Speaker 5: is saying actually, this launch business is yeah, you can
Speaker 5: think of it as a standalone launch business, but really
Speaker 5: it's the.
Speaker 1: Way we get these satellites into order.
Speaker 4: Well, I remember talking to investors before the IPO, and
Speaker 4: I was kind of like, are you surprised by this
Speaker 4: repositioning and they were like, well, you.
Speaker 1: Can't disprove it.
Speaker 4: You can't say that they aren't going to achieve this
Speaker 4: because you're fundamentally it's not there yet, so it's still
Speaker 4: a dream.
Speaker 3: All. The thing I will say is you look at
Speaker 3: the three different business sectors AI, connectivity, and space. I
Speaker 3: mean where they're spending in terms of capex. It's on
Speaker 3: the AI side of things.
Speaker 6: Data centers.
Speaker 3: Yeah, I mean that's where they're really emphasizing. We got
Speaker 3: to talk about two other names while we've got baily Max.
Speaker 3: Feel free to chime in.
Speaker 1: We love, we Love, we Love.
Speaker 3: AMD also reported and that stock was down in the aftermarket.
Speaker 4: Yeah, Amda ticker AMD down seven and a half percent.
Speaker 4: This does come after latest sales outlook less than people
Speaker 4: were looking for and kind of looking at that, you
Speaker 4: really have to keep in mind this is a stock
Speaker 4: that last two days was up, you know, seven or
Speaker 4: eight percent. The whole kind of ebbs and flows of
Speaker 4: everything going on with chips, so lofty expectations on the
Speaker 4: buy side. So even if you're missing maybe what the
Speaker 4: selside was looking for. Typically the byside whisper number is
Speaker 4: a much higher bar.
Speaker 3: Yeah, exactly, and so a stock that's been on a
Speaker 3: tear paramounts guidance.
Speaker 6: Let's go to Paramount's guidance. Psky, is the tick.
Speaker 1: Or Bailey not really moving down?
Speaker 3: Yeah?
Speaker 7: I know, even though two million new customers for Paramount plus,
Speaker 7: including some of those to watch the FIFA World Cup.
Speaker 1: And you're a big sports ball guy.
Speaker 6: No I'm not.
Speaker 7: I am now becoming a sports dad because my son
Speaker 7: likes sports, so I am, and I'm learning about sports.
Speaker 1: So you're paying up for the Paramount.
Speaker 7: Oh my god, no, we paid for Fox whatever Fox's
Speaker 7: thing is. I forget what it's called one Fox one.
Speaker 6: Thank you. It sounds like Max is a sports dad too.
Speaker 7: Thank you for the reminder to maybe amend the subscription
Speaker 7: now at the fold by men.
Speaker 1: You mean, oh, you know, dial back, spend real.
Speaker 6: Watching on that was World Cup games?
Speaker 3: Can I just say though, on this release, a lot
Speaker 3: of cost cutting from the merger is what's kind of
Speaker 3: helping it, right, I mean.
Speaker 1: That's I don't know.
Speaker 4: I will not talk about things I don't understand, like
Speaker 4: judges and kind of court cases related to MNA.
Speaker 3: No, but I'm just saying cost cuts, you know, with
Speaker 3: the merger. I know we're still waiting on this one.
Speaker 3: Any thoughts Max.
Speaker 1: No, SAE, pounded failure. I think this, I think this
Speaker 1: legal fight is going to be really interesting.
Speaker 5: Obviously, that is going to say a lot about where
Speaker 5: this company goes.
Speaker 3: If Paramount doesn't close it's deale with Warner Brothers by
Speaker 3: September thirty, it will begin occurring a six hundred and
Speaker 3: fifty million dollars quarterly ticking fee to Warner Brothers shareholders.
Speaker 6: So does that mean David's aswal gets more money?
Speaker 3: Kitchen kitching?
Speaker 6: Okay, just wondering.
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