1 00:00:02,520 --> 00:00:08,960 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:17,560 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,720 --> 00:00:19,840 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:19,920 --> 00:00:21,720 Speaker 3: We're joined by Bloomberg's Bailly Lipschaltz. 6 00:00:21,760 --> 00:00:22,439 Speaker 1: Billy, what are you looking at? 7 00:00:22,520 --> 00:00:23,639 Speaker 4: Yeah? I know you guys are going to spend some 8 00:00:23,640 --> 00:00:25,520 Speaker 4: time with Mandeep later on talking about it. But in 9 00:00:25,640 --> 00:00:28,040 Speaker 4: Vidia biggest driver to the downside in the s and 10 00:00:28,080 --> 00:00:30,319 Speaker 4: P five one hundred, down more than six percent. This 11 00:00:30,440 --> 00:00:33,160 Speaker 4: comes after the company warned it will report about five 12 00:00:33,159 --> 00:00:35,120 Speaker 4: and a half billion dollars in write downs for the 13 00:00:35,159 --> 00:00:39,280 Speaker 4: current quarter, all because their H twenty chips will require 14 00:00:39,320 --> 00:00:42,199 Speaker 4: a license to be exported to China for the indefinite future, 15 00:00:42,440 --> 00:00:45,400 Speaker 4: another headache coming from this ongoing trade war. 16 00:00:46,120 --> 00:00:48,360 Speaker 1: And again, this is a big move for a big. 17 00:00:48,240 --> 00:00:50,840 Speaker 4: Company, So you don't normally see in Nvidia down six percent, 18 00:00:50,840 --> 00:00:53,360 Speaker 4: two and a half trillion dollar company, So that's providing 19 00:00:53,440 --> 00:00:56,680 Speaker 4: quite a bit of selling pressure across major averages, definitely 20 00:00:56,680 --> 00:00:59,240 Speaker 4: weighing on Peers were seeing information technology the worst performing 21 00:00:59,240 --> 00:01:00,800 Speaker 4: sector in the SMB five hundred. 22 00:01:00,560 --> 00:01:01,960 Speaker 1: Right now, Yeah, and socks Indecks. 23 00:01:02,000 --> 00:01:03,920 Speaker 4: I know, ASML is having its own issues, but the 24 00:01:03,960 --> 00:01:06,520 Speaker 4: socks indecks right now down more than three and a 25 00:01:06,560 --> 00:01:09,639 Speaker 4: half percent, So a sharp sell off four tech names 26 00:01:09,680 --> 00:01:10,720 Speaker 4: and kind of a flight to risk. 27 00:01:10,760 --> 00:01:13,120 Speaker 1: I know JT mentioned it, but Abbot Labs. 28 00:01:13,240 --> 00:01:16,920 Speaker 4: Chevron, United Health Investors seeking safety just given all the 29 00:01:17,000 --> 00:01:19,440 Speaker 4: volatility that continues to play out, that's. 30 00:01:19,360 --> 00:01:20,199 Speaker 1: What's going wrong with HURTS. 31 00:01:20,240 --> 00:01:23,040 Speaker 3: I'm a gold card member, so I mean I walk 32 00:01:23,160 --> 00:01:25,360 Speaker 3: up there the cars, just kind of see the name 33 00:01:25,440 --> 00:01:26,679 Speaker 3: up on the thing and just walk to the car. 34 00:01:27,440 --> 00:01:29,840 Speaker 4: We were talking on TV about it, So did you 35 00:01:29,880 --> 00:01:32,559 Speaker 4: ever use did you ever rent a Tesla from Hertz? 36 00:01:32,640 --> 00:01:32,720 Speaker 3: No? 37 00:01:33,080 --> 00:01:35,520 Speaker 4: Okay, well that's been their big headache. Okay, the socks 38 00:01:35,560 --> 00:01:38,760 Speaker 4: up right now fifteen percent. This comes after Bill Ackman's 39 00:01:38,800 --> 00:01:42,200 Speaker 4: Perching Square disclosed that they bought twelve point seven million shares, 40 00:01:42,240 --> 00:01:45,800 Speaker 4: so they're now a top three shareholder stocks up fifteen percent, 41 00:01:45,880 --> 00:01:49,080 Speaker 4: but since it emerged from bankruptcy back in twenty twenty one, 42 00:01:49,400 --> 00:01:52,800 Speaker 4: down eighty four percent. So wow, buying a dip, buying 43 00:01:52,800 --> 00:01:54,960 Speaker 4: a plunge. Just want to call out that one of 44 00:01:54,960 --> 00:01:57,000 Speaker 4: the more recent high profile names that Actman took a 45 00:01:57,000 --> 00:01:59,760 Speaker 4: stake in Nike to announce that stake back in August, 46 00:02:00,200 --> 00:02:02,120 Speaker 4: down more than thirty percent from that point in time, 47 00:02:02,200 --> 00:02:05,320 Speaker 4: so an interestingly rough go for some of these names 48 00:02:05,360 --> 00:02:08,520 Speaker 4: associated with Bill Ackman will certainly be keeping an eye 49 00:02:08,560 --> 00:02:10,919 Speaker 4: and trying to figure out if it's an activist bet 50 00:02:11,040 --> 00:02:12,040 Speaker 4: or him buying the deal. 51 00:02:12,160 --> 00:02:14,440 Speaker 3: They went long Tesla right in terms that they put 52 00:02:14,440 --> 00:02:16,600 Speaker 3: a lot of cars into their fleet, and then it 53 00:02:16,639 --> 00:02:18,560 Speaker 3: became clear that they weren't really working. 54 00:02:18,680 --> 00:02:20,079 Speaker 1: Well it wasn't working. 55 00:02:20,120 --> 00:02:22,359 Speaker 4: And then also it's as Matt Miller made the point 56 00:02:22,400 --> 00:02:24,880 Speaker 4: on TV, if you I don't know, you drive a 57 00:02:24,880 --> 00:02:27,440 Speaker 4: rental car, like a rental car and you ding the 58 00:02:27,480 --> 00:02:30,280 Speaker 4: rear view mirror, it's pretty expensive to replace one of those, 59 00:02:30,440 --> 00:02:33,520 Speaker 4: as opposed to you know, a Toyota where parts are 60 00:02:33,760 --> 00:02:34,440 Speaker 4: a bit cheaper. 61 00:02:34,560 --> 00:02:36,600 Speaker 1: Exactly. You're also keeping an eye on United. What's going 62 00:02:36,600 --> 00:02:37,200 Speaker 1: on there? Yeah. 63 00:02:37,280 --> 00:02:39,560 Speaker 4: United Airlines was up more than five and a half percent, 64 00:02:39,600 --> 00:02:41,600 Speaker 4: now up less than half percent, so giving back a 65 00:02:41,680 --> 00:02:44,840 Speaker 4: chunk of those games. JT had mentioned it interesting strategy. 66 00:02:44,880 --> 00:02:47,880 Speaker 4: They laid out two outlooks blaming uncertainty. Obviously, no one 67 00:02:47,919 --> 00:02:49,600 Speaker 4: really knows if we're going into a recession or if 68 00:02:49,600 --> 00:02:50,320 Speaker 4: we're already in one. 69 00:02:50,480 --> 00:02:51,720 Speaker 1: So they laid out their. 70 00:02:51,600 --> 00:02:55,240 Speaker 4: Base case guidance, which maintained and kind of drew applause 71 00:02:55,240 --> 00:02:57,960 Speaker 4: for analysts, and also a downside guidance in the event 72 00:02:58,000 --> 00:03:00,639 Speaker 4: that we do go into a recession and consumers feel 73 00:03:00,680 --> 00:03:02,959 Speaker 4: to pinch again. This does we did see kind of 74 00:03:03,000 --> 00:03:05,680 Speaker 4: their initial rally, partly because it stands opposite of what 75 00:03:05,760 --> 00:03:09,360 Speaker 4: Delta warned, so certainly seeing maybe a divide, but interesting 76 00:03:09,880 --> 00:03:12,520 Speaker 4: commentary coming from their CEO saying that the weakest region 77 00:03:12,520 --> 00:03:15,200 Speaker 4: they currently have is domestic, So keeping an eye on 78 00:03:15,320 --> 00:03:17,560 Speaker 4: us consumers and if we are going to see a 79 00:03:17,560 --> 00:03:21,000 Speaker 4: recession or see people kind of slowing their discretionary spending, 80 00:03:21,040 --> 00:03:22,520 Speaker 4: what that means for this kind of a company. 81 00:03:23,320 --> 00:03:27,480 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 82 00:03:27,560 --> 00:03:30,320 Speaker 2: us throughout the day for the latest roundup of companies 83 00:03:30,360 --> 00:03:33,400 Speaker 2: making news on Wall Street and for the latest market 84 00:03:33,440 --> 00:03:37,760 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 85 00:03:37,840 --> 00:03:41,080 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 86 00:03:41,160 --> 00:03:42,640 Speaker 2: the Bloomberg Business app.