WEBVTT - Closing Bell: Warner Bros Splits Up, Qualcomm Rises, Apple Slides 

0:00:02.520 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:09.920 --> 0:00:13.360
<v Speaker 2>This is the closing bell on this stock mover's report

0:00:13.600 --> 0:00:16.560
<v Speaker 2>the company's making moves at the close of US trading

0:00:16.800 --> 0:00:21.360
<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostik, and Scarlett Food.

0:00:22.520 --> 0:00:24.720
<v Speaker 3>Let's get to some of the individual gainers. I mentioned

0:00:24.720 --> 0:00:28.080
<v Speaker 3>that semiconductors really outperforming as a whole and as a

0:00:28.080 --> 0:00:31.560
<v Speaker 3>group today. What's interesting is there's a name we don't

0:00:31.560 --> 0:00:35.080
<v Speaker 3>talk a lot about tickers E and TG, Integris, and

0:00:35.200 --> 0:00:38.360
<v Speaker 3>we saw this one being the top gainer in the

0:00:38.720 --> 0:00:42.199
<v Speaker 3>Semiconductor Index eleven point eight billion dollar market cap. It's

0:00:42.200 --> 0:00:45.360
<v Speaker 3>a semi manufacturing company. And I was looking for some

0:00:45.479 --> 0:00:47.320
<v Speaker 3>news like throughout the day and really didn't see I

0:00:47.320 --> 0:00:53.120
<v Speaker 3>think specifically, although reader interest in social was unusually high,

0:00:53.159 --> 0:00:54.760
<v Speaker 3>though the number of news stories about the company was

0:00:54.760 --> 0:00:57.360
<v Speaker 3>no greater than average, so no notable news. But the

0:00:57.360 --> 0:00:59.000
<v Speaker 3>stock was up about four percent, so I thought it

0:00:59.040 --> 0:01:01.440
<v Speaker 3>was just kind of interesting to see that one being

0:01:01.480 --> 0:01:05.280
<v Speaker 3>such an outperformer. Actually it's up seven point six percent

0:01:05.360 --> 0:01:09.319
<v Speaker 3>excuse me today, so quite an outperformer. Qualcom Staying in

0:01:09.360 --> 0:01:11.360
<v Speaker 3>the semi space, that one was up more than four

0:01:11.360 --> 0:01:14.160
<v Speaker 3>percent in today's session. The chip maker reached an agreement

0:01:14.160 --> 0:01:16.760
<v Speaker 3>to buy Alpha Way for about two point four billion dollars.

0:01:16.760 --> 0:01:19.440
<v Speaker 3>That was a cash deal. They are doing this to

0:01:19.480 --> 0:01:23.119
<v Speaker 3>expand its technology for artificial intelligence, so again an AI play.

0:01:23.640 --> 0:01:26.440
<v Speaker 3>The deal will be subject to regulatory and shareholder approval.

0:01:26.760 --> 0:01:29.200
<v Speaker 3>It is though, is expected to close in the first

0:01:29.240 --> 0:01:33.120
<v Speaker 3>quarter of twenty twenty six. Alpha waves board unanimously recommending

0:01:33.120 --> 0:01:35.240
<v Speaker 3>the cash offer, so they're already all in on this.

0:01:35.600 --> 0:01:37.959
<v Speaker 3>And then Synchrony Financial got to mention that one as

0:01:38.000 --> 0:01:40.320
<v Speaker 3>well off its highs of the day, was up four

0:01:40.319 --> 0:01:43.040
<v Speaker 3>percent at one point, but finishing with a two point

0:01:43.120 --> 0:01:46.440
<v Speaker 3>seven percent gain, so some outperformance there. This is as

0:01:46.480 --> 0:01:50.000
<v Speaker 3>Walmart's credit cards will be issued by Synchrony Financial with

0:01:50.080 --> 0:01:52.400
<v Speaker 3>one Pay offering co branded and private label cards in

0:01:52.440 --> 0:01:54.320
<v Speaker 3>the US later on this year, so they just guys

0:01:54.320 --> 0:01:55.120
<v Speaker 3>still tie up there.

0:01:55.720 --> 0:01:57.880
<v Speaker 4>They did. It was something about the way they do contracts,

0:01:57.920 --> 0:02:00.720
<v Speaker 4>basically exciting good talk.

0:02:01.600 --> 0:02:05.880
<v Speaker 1>Okay, all right, let's go to Apple. I've been watching

0:02:05.880 --> 0:02:08.639
<v Speaker 1>shares of Apple all day as the company held it's

0:02:08.680 --> 0:02:11.600
<v Speaker 1>a Worldwide Developers conference in Cooper, Tino. We spoke to

0:02:11.720 --> 0:02:13.760
<v Speaker 1>Ed Ludlow there a little earlier. Shares were up as

0:02:13.800 --> 0:02:15.720
<v Speaker 1>much as one percent earlier in the session, but ended

0:02:15.800 --> 0:02:19.200
<v Speaker 1>up falling one point two percent. Perhaps investors learned more

0:02:19.320 --> 0:02:22.200
<v Speaker 1>or maybe they were left wanting more. The company is

0:02:22.240 --> 0:02:26.600
<v Speaker 1>introducing liquid Glass. This is a new vision iOS like

0:02:26.639 --> 0:02:29.840
<v Speaker 1>design language across its different platforms. Not a surprise if

0:02:29.880 --> 0:02:31.720
<v Speaker 1>you've been paying attention to what Mark German has been

0:02:31.720 --> 0:02:33.880
<v Speaker 1>writing for weeks at this point, and perhaps that's why

0:02:34.280 --> 0:02:35.919
<v Speaker 1>it was kind of a sell the news event out

0:02:35.960 --> 0:02:38.600
<v Speaker 1>of Cooper Tino. Also, the iPhone is getting a revamped

0:02:38.680 --> 0:02:41.240
<v Speaker 1>phone and camera apps that focus on simplicity. Lots more

0:02:41.240 --> 0:02:43.160
<v Speaker 1>news there. I encourage you to check out our live

0:02:43.200 --> 0:02:46.400
<v Speaker 1>blog for more information about what was unveiled. Also, you

0:02:46.440 --> 0:02:50.000
<v Speaker 1>know about merger Mondays or Media Mondays. This is a

0:02:50.040 --> 0:02:52.520
<v Speaker 1>media Monday, but it's more like a divorce when it

0:02:52.560 --> 0:02:56.440
<v Speaker 1>comes to some traditional media. We're talking about Warner Brothers Discovery.

0:02:56.960 --> 0:03:00.440
<v Speaker 1>Shares of Warner Brothers Discovery falling about three percent on

0:03:00.600 --> 0:03:05.280
<v Speaker 1>the session today. This after the company said that it

0:03:05.400 --> 0:03:08.640
<v Speaker 1>was separating into two different companies. It's the Global Networks Business,

0:03:08.680 --> 0:03:12.240
<v Speaker 1>so that'll include entertainment, sports, and dozens of cable TV

0:03:12.320 --> 0:03:16.480
<v Speaker 1>brands such as CNN, TNT and TBS. Then it will

0:03:16.480 --> 0:03:18.760
<v Speaker 1>hold a twenty percent stake in the other company that's

0:03:18.800 --> 0:03:22.519
<v Speaker 1>the streaming and studios business that'll be headed by David Zaslov,

0:03:23.040 --> 0:03:26.160
<v Speaker 1>and it'll essentially be it'll use proceeds from that entity

0:03:26.200 --> 0:03:27.679
<v Speaker 1>as a way to cut debt, the company said in

0:03:27.720 --> 0:03:30.600
<v Speaker 1>a statement. Earlier shares were up earlier in the session

0:03:31.280 --> 0:03:33.280
<v Speaker 1>by as much as thirteen percent, but ended up falling

0:03:33.280 --> 0:03:37.400
<v Speaker 1>by about three percent. And finally, shares of Robinhood. Do

0:03:37.400 --> 0:03:39.360
<v Speaker 1>you guys remember last week there was all this speculation

0:03:39.360 --> 0:03:42.080
<v Speaker 1>about Robinhood being included in the S and P five

0:03:42.160 --> 0:03:44.760
<v Speaker 1>hundred as a result of the quarterly rebalancing. So you

0:03:44.800 --> 0:03:47.360
<v Speaker 1>had companies like app Love and as well Serge robin

0:03:47.400 --> 0:03:50.360
<v Speaker 1>and serged last week thirteen percent. And then look what

0:03:50.400 --> 0:03:53.440
<v Speaker 1>happened Friday. The markets close, and then you know, S

0:03:53.480 --> 0:03:57.200
<v Speaker 1>and P Indices or Dow Drum's industries rather come out

0:03:57.240 --> 0:04:00.640
<v Speaker 1>and say no, we're not actually changing it up at all.

0:04:00.760 --> 0:04:02.880
<v Speaker 1>SMP Dow Jones Industry said we're leaving the S and

0:04:02.920 --> 0:04:05.640
<v Speaker 1>P five hundred the same. Robin It fell by about

0:04:05.680 --> 0:04:06.320
<v Speaker 1>two percent.

0:04:06.120 --> 0:04:08.360
<v Speaker 3>Today as a result, and Apply Digital down six percent.

0:04:08.360 --> 0:04:09.680
<v Speaker 2>A lot of people thought they would make it in.

0:04:09.680 --> 0:04:12.480
<v Speaker 4>As well, Ouch Ouch, all those rumors. All right, let's

0:04:12.480 --> 0:04:13.800
<v Speaker 4>take a look at the bond market here, guys, so

0:04:13.840 --> 0:04:16.560
<v Speaker 4>buying pretty much across the curve that front end down

0:04:16.560 --> 0:04:19.200
<v Speaker 4>by about three basis points. So today's not the big mover.

0:04:19.320 --> 0:04:21.320
<v Speaker 4>But tomorrow you get the three year, then the ten

0:04:21.400 --> 0:04:23.760
<v Speaker 4>year Wednesday, and then you have thirty year on Thursday.

0:04:23.800 --> 0:04:25.960
<v Speaker 4>All told, you're looking at one hundred and nineteen billion

0:04:26.000 --> 0:04:29.640
<v Speaker 4>dollars with the thirty year rate around an eighteen year high.

0:04:29.680 --> 0:04:32.400
<v Speaker 4>Clearly off that level, but around that area. That's what

0:04:32.560 --> 0:04:35.280
<v Speaker 4>many investors are going to be watching. Guys.

0:04:36.520 --> 0:04:40.560
<v Speaker 2>This stock Movers report from Bloomberg Radio. Check back with

0:04:40.640 --> 0:04:43.200
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:43.279 --> 0:04:46.400
<v Speaker 2>making news on Wall Street and for the latest market

0:04:46.400 --> 0:04:50.880
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:50.960 --> 0:04:54.479
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:54.560 --> 0:04:56.039
<v Speaker 2>the Bloomberg Business app.