WEBVTT - Microsoft in Talks With Chevron; United Airlines Cut; Magnificent 7 Stocks Fall

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Nathan Hager, joined by Bloomberg's Emily Graffeo on a

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<v Speaker 3>down mourning for equities across the board, though probably not

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<v Speaker 3>for oil stocks given the surge we're seeing in crude

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<v Speaker 3>this morning. Good morning, Emily, Good morning Nathan.

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<v Speaker 1>That's right. I'm looking at chairs of Chevron and Exon.

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<v Speaker 1>Those stocks both up over two percent. Chevron up about

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<v Speaker 1>two point five percent in the pre market, Exon up

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<v Speaker 1>about three percent in the pre market. As you said,

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<v Speaker 1>oil moving much higher this morning after President Trump's address

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<v Speaker 1>last night where he vowed an escalation in the war,

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<v Speaker 1>and he ran over the coming weeks, as John Tucker

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<v Speaker 1>just mentioned, not really including much of a person sice

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<v Speaker 1>timeline for an exit. So that is causing a risk

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<v Speaker 1>off move in the broader equity market. But we are

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<v Speaker 1>seeing oil higher and energy stocks higher.

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<v Speaker 3>How are we seeing things affected when it comes to

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<v Speaker 3>airline stocks. They've been dealing with rising jet fuel prices.

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<v Speaker 1>Of course, Yeah, that's right. So we are seeing shares

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<v Speaker 1>of both airline and cruise operators slipping, and this is

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<v Speaker 1>all in the prospect of higher fuel prices weighing on sentiment.

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<v Speaker 1>You have among these movers United Airlines down about four percent,

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<v Speaker 1>and then also for United, we did see a downgrade

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<v Speaker 1>this morning from TD Cowan, that firm cutting their target

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<v Speaker 1>their price target on United Airlines to one hundred and

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<v Speaker 1>twenty dollars a share from one. That's still higher than

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<v Speaker 1>where the stock is trading now, but in terms of sentiment,

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<v Speaker 1>not helping to see a price target cut there, but

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<v Speaker 1>that would still be about a twenty five percent increase

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<v Speaker 1>from the last stock price.

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<v Speaker 3>Nathan, is that sentiment move part of what we're seeing

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<v Speaker 3>in the Mag seven this morning? Just looking at Nvidia shares,

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<v Speaker 3>they're down quite a bit as well this morning.

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<v Speaker 1>Yeah, shares a Nvidia down about two point four percent,

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<v Speaker 1>and the broader Mag seven is also lower, a meta

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<v Speaker 1>alphabet Tesla all trading lower in the pre market. These

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<v Speaker 1>were really the leaders of the market, you know, just

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<v Speaker 1>a few weeks a few months ago, and so any

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<v Speaker 1>type of move that is risk off in the market,

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<v Speaker 1>it's going to hit these stocks and that's exactly what

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<v Speaker 1>we're seeing this morning. So all mag seven stocks falling,

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<v Speaker 1>and again it's kind of all on this idea that

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<v Speaker 1>traders are unclear about when the exit for this Iron

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<v Speaker 1>war is and Trump really not giving traders any reassurance

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<v Speaker 1>or really any explanation for the war. Last night, of course,

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<v Speaker 1>we could see that trade reverse, but at least this morning,

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<v Speaker 1>the trade for these mag seven stocks is lower.

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<v Speaker 3>Yeah, so you got to think that's part of what's

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<v Speaker 3>dragging the broader market lower as well, given the waitings

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<v Speaker 3>for those stocks. Of course, but it's not all read

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<v Speaker 3>and not just in the oil sector either. The biggest

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<v Speaker 3>gainer in the pre market this morning, what is behind

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<v Speaker 3>the move for Global Star?

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<v Speaker 1>Okay, so global Star is a satellite provider. The shares

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<v Speaker 1>are up about eleven percent right now, Nathan in the

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<v Speaker 1>pre market. Amazon is said to be in talks to

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<v Speaker 1>acquire this satellite provider. This is according to reporting from

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<v Speaker 1>the Financial Times, but Bloomberg had also been reporting earlier

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<v Speaker 1>that this company was potentially exploring an acquisition. So this

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<v Speaker 1>is a deal that will bolsterore Amazon's effort to build

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<v Speaker 1>out its low orbit satellite network to compete with SpaceX starlink.

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<v Speaker 1>This is kind of like a key piece of infrastructure

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<v Speaker 1>that Amazon could use to build that out. So Global

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<v Speaker 1>Star shares trade under the ticker gsat up over ten percent.

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<v Speaker 2>The Stockmovers report from Bloomberg Radio. Check back with us

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<v Speaker 2>throughout the day for the latest roundup of companies making

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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