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: Let's check a look at some stocks on the move today.
Speaker 3: I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Matteo.
Speaker 4: Okay, I want to start with Snap. This is the
Speaker 4: biggest move of volume this Morning's down about nineteen percent.
Speaker 4: It's the owner of Snapchat, the social media app. Second
Speaker 4: quarter sales that were just shy of Wall Street's average estimates.
Speaker 4: But the bigger news actually came on the call with investors.
Speaker 4: The company points into this slowdown in advertising revenue growth,
Speaker 4: and a big reason for that, they said, was this
Speaker 4: technical issue they had with their ad buying tools that
Speaker 4: happened earlier this year. So what happened is that the
Speaker 4: company shipped an update to their advertising auction and it
Speaker 4: invertedly allowed marketers to buy ads at substantially reduced prices.
Speaker 4: So that was a big mistake.
Speaker 3: This is five hundred and six people enjoying Santa Monica, California. Yeah,
Speaker 3: Evan Spiegel, who's an item. I've never used snap? Lisa
Speaker 3: is Yeah, it's.
Speaker 4: The kids love it. Correct, Yeah, the kids love it.
Speaker 4: It's they just like it better than all the others.
Speaker 3: Oh, but she's a font to wisdom today.
Speaker 1: I yes, tiktoky.
Speaker 3: It's just unbelievable.
Speaker 4: But it's a big thing for them because they get
Speaker 4: like ninety percent of their revenue from advertising. So that
Speaker 4: was a huge mistake. They said it's fixed and advertising
Speaker 4: revenue growth has improved, but yeah, that was that was
Speaker 4: a big mistake for them. Disney Okay, their shares have
Speaker 4: been down two percent. Third quarter results disappointed some investors.
Speaker 4: So on the bad side of things, revenue from conventional
Speaker 4: TV network sports programming fell short. Income from conventional entertainment
Speaker 4: TV fell twenty eight percent. Disney Film Studio suffered a
Speaker 4: loss with sports programming folly short, though they did have
Speaker 4: that announcement about the NFL acquiring a ten percent stake
Speaker 4: in ESPN Sports programming. The good news for them a
Speaker 4: strong performance in their theme park streaming business. Income at
Speaker 4: the Theme parks division grew about thirteen percent of the
Speaker 4: quarter revenue advance eight percent. The streaming business actually earned
Speaker 4: a quarterly profit of three hundred and forty six million,
Speaker 4: So good and bad on both sides of them.
Speaker 1: For Disney, I mean, Disney is like everybody else. They're
Speaker 1: just trying to say, hey, focus your tension on these
Speaker 1: bright China objects. For us, it's streaming and it's theme parks,
Speaker 1: which you're real they're gonna be huge. They are usually profitable,
Speaker 1: get even more so with the streaming business, and just
Speaker 1: kind of ignore the legacy cable networks, broadcast networks. And
Speaker 1: in fact, a lot of companies are saying, we're just
Speaker 1: gonna spin those things off.
Speaker 4: So we don't have the movie, Like I'm surprised about
Speaker 4: the movie.
Speaker 1: Yeah, that stuff goes, comes and goes. You can't worry
Speaker 1: about that.
Speaker 3: So you know what they're worth when they spin them off.
Speaker 1: We're gonna find out.
Speaker 2: We're gonna get two big.
Speaker 1: Transactions coming hitting the market. But if it's going to
Speaker 1: be well below I think where their current stocks are
Speaker 1: te okay, next.
Speaker 4: All right, Advanced micro Devices taker AMD down more than
Speaker 4: six percent before the bell. It's the second largest maker
Speaker 4: of AI processors. Right, so analysts they saw the results
Speaker 4: as mixed. Something they really looked closely at was a
Speaker 4: company situation in China. They say, it's return to that
Speaker 4: market is a little tough to predict. And the reason
Speaker 4: why is because you remember, like the Trump administration, they
Speaker 4: barred those shipments of the high quality chips of China
Speaker 4: back in April. Then it reversed the course and that
Speaker 4: raise hopes that AMD and in Video could resume sales,
Speaker 4: but AMD CEO said that their licenses are still under review,
Speaker 4: so you know, they didn't include any revenue from those
Speaker 4: chips and their guidance.
Speaker 2: The Stock Mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.