1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market harnessing the power of Bloomberg data. 4 00:00:16,640 --> 00:00:18,840 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:19,079 --> 00:00:23,759 Speaker 1: I'm time Keen with Paul Sweeni and Bloomberg's John Tucker Salesforce. 6 00:00:24,040 --> 00:00:27,240 Speaker 1: They have sixty three opinions on the analyst page. You 7 00:00:27,240 --> 00:00:29,400 Speaker 1: meet every one of them, need every one of those 8 00:00:29,560 --> 00:00:32,280 Speaker 1: sixty three people following what are you going to add? 9 00:00:32,400 --> 00:00:33,960 Speaker 1: John Tucker on Salesforce? 10 00:00:33,960 --> 00:00:38,040 Speaker 3: Well, I guess it's an AI story. So after the 11 00:00:38,080 --> 00:00:42,080 Speaker 3: close they prejected lackluster quarterly sales it SU says their 12 00:00:42,200 --> 00:00:46,160 Speaker 3: artificial intelligence product isn't really yet paying off at least 13 00:00:46,159 --> 00:00:49,080 Speaker 3: as quickly as full. There's also the view that AI 14 00:00:49,159 --> 00:00:50,600 Speaker 3: is going to take over some of the tanks that 15 00:00:50,640 --> 00:00:55,920 Speaker 3: Salesforce provides and also reduce the workforce of older customers. 16 00:00:56,200 --> 00:00:59,920 Speaker 3: Salesforce trying to get clients to use Agent Force AI 17 00:01:00,200 --> 00:01:04,080 Speaker 3: tool it can complete task such as sales development customer 18 00:01:04,200 --> 00:01:08,280 Speaker 3: management without human supervision. The stock, by the way, is 19 00:01:08,280 --> 00:01:11,480 Speaker 3: abrobut twenty three percent this year through the close yesterday. 20 00:01:11,840 --> 00:01:15,400 Speaker 3: The AI disruption narrative growing louder. 21 00:01:15,200 --> 00:01:18,040 Speaker 1: Seventy six thousand employees. Paul, I look at the Kinicgo 22 00:01:18,080 --> 00:01:21,720 Speaker 1: Phillips announcement yesterday. Hydrocarbon's molding. They're going to lay off 23 00:01:21,760 --> 00:01:25,319 Speaker 1: one in four employees. When do we start seeing in 24 00:01:25,360 --> 00:01:28,600 Speaker 1: the salesforce world? Ye, more than just you know, we're 25 00:01:28,680 --> 00:01:29,679 Speaker 1: laying off two percent. 26 00:01:29,800 --> 00:01:33,759 Speaker 2: Yeah, that's that's that's when you start seeing weaknesses in 27 00:01:33,920 --> 00:01:37,000 Speaker 2: the labor market. But yeah, this whole AI and software thing, 28 00:01:37,120 --> 00:01:37,720 Speaker 2: who's going to win? 29 00:01:37,840 --> 00:01:42,120 Speaker 3: They have the subscription software model and you got to answer, well, 30 00:01:42,120 --> 00:01:45,200 Speaker 3: at least on the call of one of the Goldman 31 00:01:45,280 --> 00:01:48,920 Speaker 3: SAX analysts was like, how sustainable is this? The software 32 00:01:48,960 --> 00:01:53,080 Speaker 3: as service or SASS or SAI. 33 00:01:52,800 --> 00:01:55,880 Speaker 1: Nailing it at least it would do better, but continue. 34 00:01:56,000 --> 00:02:00,120 Speaker 3: She'll be back Tuesday. Actually, as the update, Goldman Sacks 35 00:02:00,320 --> 00:02:02,320 Speaker 3: is going to invest as much as a billion dollars 36 00:02:02,680 --> 00:02:06,000 Speaker 3: in t Row Price Group. They're teaming up the asset 37 00:02:06,040 --> 00:02:11,480 Speaker 3: managers selling private market products to mom and dad. Sure, 38 00:02:11,880 --> 00:02:16,920 Speaker 3: what could possibly go wrong? The unusual arrangement means Goldman 39 00:02:17,000 --> 00:02:19,760 Speaker 3: will use its balance sheet to hold equity in t ROW. 40 00:02:20,200 --> 00:02:22,600 Speaker 3: That stock, by the way, is down more than fifty 41 00:02:22,639 --> 00:02:25,480 Speaker 3: percent from its twenty twenty one peak. The companies will 42 00:02:25,480 --> 00:02:30,280 Speaker 3: collaborate on a range of investments for retirement savers as 43 00:02:30,280 --> 00:02:33,480 Speaker 3: well as wealthy investors. Goldman's going to make a series 44 00:02:33,520 --> 00:02:36,680 Speaker 3: of open market purchases. They're going to mass up to 45 00:02:36,720 --> 00:02:38,760 Speaker 3: three and a half percent of t ROW price stock, 46 00:02:39,040 --> 00:02:42,000 Speaker 3: potentially making the Wall Street Bank one of the five 47 00:02:42,160 --> 00:02:45,560 Speaker 3: biggest to shareholders. This comes at a kind of a 48 00:02:45,600 --> 00:02:50,519 Speaker 3: critical juncture at this point for the asset management industry. 49 00:02:50,960 --> 00:02:52,959 Speaker 3: Traditional players pushing into. 50 00:02:53,200 --> 00:02:58,000 Speaker 1: Altney stock because all the money's going to ETFs. Yeah, 51 00:02:58,000 --> 00:03:00,360 Speaker 1: if you're a mutual one company like t ROW you know. 52 00:03:00,639 --> 00:03:03,280 Speaker 3: So this is the new frontier alternative assets. 53 00:03:03,360 --> 00:03:06,320 Speaker 1: Well, this is a huge deal. We got another stock quickly, 54 00:03:06,400 --> 00:03:09,400 Speaker 1: or Silla Brush. I'll get the story out on LinkedIn 55 00:03:09,400 --> 00:03:13,119 Speaker 1: and Twitter. We're making jokes about it, folks. But the tumult, 56 00:03:13,280 --> 00:03:17,800 Speaker 1: the upset on Wall Street about this is ginormous. I mean, 57 00:03:17,840 --> 00:03:20,160 Speaker 1: there's no other way. Well yet, one other idea? Are 58 00:03:20,240 --> 00:03:20,800 Speaker 1: you done? 59 00:03:21,000 --> 00:03:21,040 Speaker 2: No? 60 00:03:21,280 --> 00:03:24,079 Speaker 3: Let me do one more. American Eagle Outfitters, so they 61 00:03:24,120 --> 00:03:28,240 Speaker 3: wanted Sydney Sweeney to be a brand reset at some 62 00:03:28,400 --> 00:03:33,880 Speaker 3: act actress. Wednesday, after market, the apparel company reported higher 63 00:03:33,919 --> 00:03:37,320 Speaker 3: than expended quarterly sales. They cited the success of its 64 00:03:37,440 --> 00:03:43,040 Speaker 3: controversial marketing campaign featuring the actress, which ignited a social 65 00:03:43,200 --> 00:03:46,720 Speaker 3: media firestorm. It just seeks six weeks, the campaign generated 66 00:03:47,240 --> 00:03:51,240 Speaker 3: unprecedented new customer acquisition of the stock would be set 67 00:03:51,280 --> 00:03:54,800 Speaker 3: for its biggest rise since two thousand. The company tried 68 00:03:54,840 --> 00:03:59,520 Speaker 3: to agree ignite excitement with the buzzy celebrit driven ads 69 00:03:59,600 --> 00:04:03,920 Speaker 3: launching July. The Sydney Sweeney Has Great Jeens campaign faced 70 00:04:04,120 --> 00:04:09,280 Speaker 3: swift backlash. Actually, initially some accused the company of referencing eugenics. 71 00:04:09,800 --> 00:04:13,480 Speaker 3: Of course, the attention captured the interested me of President Trump, 72 00:04:13,560 --> 00:04:16,720 Speaker 3: who called it the hottest ed out there in a 73 00:04:16,800 --> 00:04:19,160 Speaker 3: post on truth Social. 74 00:04:20,279 --> 00:04:24,520 Speaker 2: This stockmover's report from Bloomberg Radio. 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