WEBVTT - Generac Surges, Electronic Arts Rises

0:00:02.520 --> 0:00:08.720
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

0:00:08.720 --> 0:00:12.560
<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

0:00:12.600 --> 0:00:16.840
<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data. Let's

0:00:16.840 --> 0:00:19.040
<v Speaker 2>take a look at some stocks on the move today.

0:00:19.040 --> 0:00:22.560
<v Speaker 2>Bloomberg News earnings reporter Red Brown is adjoining us.

0:00:22.880 --> 0:00:26.760
<v Speaker 3>Red. Before we get to his list, we just got to.

0:00:26.800 --> 0:00:30.880
<v Speaker 1>Mention, Oh, I'm sorry, that's okay. I'm just so excited

0:00:30.880 --> 0:00:31.440
<v Speaker 1>to see Red.

0:00:31.480 --> 0:00:33.640
<v Speaker 3>I know we are, and I know Red's been looking

0:00:33.640 --> 0:00:35.400
<v Speaker 3>at this, but you know he's going to give us

0:00:35.960 --> 0:00:38.519
<v Speaker 3>some names. But we just got to mention that Meta

0:00:38.600 --> 0:00:41.839
<v Speaker 3>is soaring in the aftermarket, up about eight nine percent

0:00:41.960 --> 0:00:44.720
<v Speaker 3>here after topping projections for second quarter sales, giving us

0:00:44.720 --> 0:00:47.919
<v Speaker 3>stronger than expected forecast for the current period. And they

0:00:47.960 --> 0:00:51.159
<v Speaker 3>talked a lot about their advertising business still growing quickly.

0:00:51.320 --> 0:00:53.680
<v Speaker 3>And then you've got of course Microsoft tim it's up

0:00:53.800 --> 0:00:55.080
<v Speaker 3>more than seven percent.

0:00:54.920 --> 0:00:57.959
<v Speaker 1>Cloud sales beat, and Azure cloud sales hit seventy five

0:00:58.000 --> 0:00:59.880
<v Speaker 1>billion dollars for the first time.

0:01:00.080 --> 0:01:01.120
<v Speaker 3>Now to the lovely Red Brown.

0:01:01.200 --> 0:01:02.639
<v Speaker 4>Yeah, I must be the only person that doesn't want

0:01:02.640 --> 0:01:06.319
<v Speaker 4>to talk about tech herdings, right, but yeah, we will

0:01:06.360 --> 0:01:09.360
<v Speaker 4>shift gears. I guess pretty pretty uh, rapidly.

0:01:09.400 --> 0:01:09.560
<v Speaker 3>Here.

0:01:09.760 --> 0:01:11.880
<v Speaker 4>One of the stocks on my radars Generac. They don't

0:01:11.880 --> 0:01:13.880
<v Speaker 4>do anything with tech. They make well, actually, maybe that's

0:01:13.880 --> 0:01:16.080
<v Speaker 4>not true. They make they make generator.

0:01:15.760 --> 0:01:18.839
<v Speaker 1>They do electricity. They need electricity to run that tech.

0:01:18.840 --> 0:01:21.840
<v Speaker 4>Apparently you need electricity to run a lot of data centers.

0:01:21.880 --> 0:01:23.720
<v Speaker 3>So our editorial team, could you come in here and

0:01:23.800 --> 0:01:26.080
<v Speaker 3>talk to red off the rails.

0:01:26.959 --> 0:01:29.160
<v Speaker 4>The company's doing really well and partially because of the

0:01:29.440 --> 0:01:33.280
<v Speaker 4>demand that's coming from data center companies who are like

0:01:33.560 --> 0:01:36.360
<v Speaker 4>they need diesel generators to just as a backup. So

0:01:36.400 --> 0:01:39.800
<v Speaker 4>apparently the company received one hundred and fifty million dollars

0:01:39.840 --> 0:01:43.440
<v Speaker 4>worth of sales from just those customers alone this year,

0:01:43.640 --> 0:01:45.640
<v Speaker 4>and management also set effecting to see more of that

0:01:45.680 --> 0:01:47.120
<v Speaker 4>coming in. So I think, you know, thinking about like

0:01:47.319 --> 0:01:49.880
<v Speaker 4>data center plays like Texas, which there's like really high

0:01:49.880 --> 0:01:53.720
<v Speaker 4>profile grid miildowns during from like a dusting of snow.

0:01:54.840 --> 0:01:59.120
<v Speaker 1>So like I think, as Pennsylvanian says, right right with

0:01:58.840 --> 0:01:59.760
<v Speaker 1>a laugh.

0:02:00.200 --> 0:02:02.440
<v Speaker 3>So, but I think about this with climate change and

0:02:02.480 --> 0:02:04.600
<v Speaker 3>like how hot it's been and man if our power

0:02:04.640 --> 0:02:06.560
<v Speaker 3>went out, like I would want a generator.

0:02:06.720 --> 0:02:08.760
<v Speaker 1>Oh yeah, well they do. So so I read as

0:02:08.760 --> 0:02:12.280
<v Speaker 1>you're talking about there's residential product sales right, which were up,

0:02:12.280 --> 0:02:14.880
<v Speaker 1>and then also commercial and industrial sales which were up

0:02:14.919 --> 0:02:16.160
<v Speaker 1>more than five percent.

0:02:15.919 --> 0:02:17.639
<v Speaker 4>Right, and and all of their end markers are doing

0:02:17.639 --> 0:02:20.679
<v Speaker 4>really well. To your point, Tim, residentials up seven percent

0:02:20.760 --> 0:02:23.000
<v Speaker 4>last quarter. Before that, they were growing like at high

0:02:23.040 --> 0:02:26.360
<v Speaker 4>double digits for for a few quarters prior to that.

0:02:26.520 --> 0:02:30.040
<v Speaker 4>So yeah, I think a good Christmas present, maybe totally.

0:02:30.080 --> 0:02:31.600
<v Speaker 3>And just so you know that we get you were

0:02:31.600 --> 0:02:33.880
<v Speaker 3>on the same plane. We've got the CEO on on

0:02:33.960 --> 0:02:35.080
<v Speaker 3>Monday at two forty pm.

0:02:35.240 --> 0:02:35.560
<v Speaker 4>Very nice.

0:02:35.639 --> 0:02:36.600
<v Speaker 3>Yeah, see, so we're with you.

0:02:37.000 --> 0:02:39.399
<v Speaker 1>Let's start gaming, because every time I walk by Carol's desk,

0:02:39.520 --> 0:02:42.400
<v Speaker 1>she is just like you were playing games, which I

0:02:42.400 --> 0:02:44.800
<v Speaker 1>don't even grank. Theft author is what she's playing? Is

0:02:44.800 --> 0:02:45.320
<v Speaker 1>that what you're doing?

0:02:45.360 --> 0:02:46.200
<v Speaker 3>Tell anyone?

0:02:46.720 --> 0:02:48.200
<v Speaker 1>What's that first person friend?

0:02:48.280 --> 0:02:48.440
<v Speaker 3>Yeah?

0:02:48.440 --> 0:02:48.760
<v Speaker 2>I don't know.

0:02:48.800 --> 0:02:53.360
<v Speaker 4>There's so many, There's so many afterwards. But those shares

0:02:53.400 --> 0:02:55.160
<v Speaker 4>were up today off of strong earning results.

0:02:55.160 --> 0:02:57.200
<v Speaker 1>Were trying electronic arts electronic.

0:02:56.800 --> 0:02:59.520
<v Speaker 4>Art excuse me sorry, electronic arts tickers. EA, we're up

0:02:59.520 --> 0:03:01.920
<v Speaker 4>as much as eight percent, whether that would have been

0:03:01.919 --> 0:03:04.760
<v Speaker 4>their best performance since twenty twenty two, but you know,

0:03:04.760 --> 0:03:08.880
<v Speaker 4>settled in around six percent. They company solid, solid booking

0:03:08.960 --> 0:03:11.640
<v Speaker 4>rates beat expectations in the second quarter. They did have

0:03:11.639 --> 0:03:14.280
<v Speaker 4>guidance that was a little bit lighter than than was expected,

0:03:14.280 --> 0:03:16.760
<v Speaker 4>but it didn't really spook investors. I think meant probably

0:03:16.800 --> 0:03:19.000
<v Speaker 4>the commentary about just the kind of the demand that

0:03:19.000 --> 0:03:21.640
<v Speaker 4>they're expecting for some of their games that are gonna

0:03:21.639 --> 0:03:23.840
<v Speaker 4>be coming out in the next couple of months, including

0:03:23.919 --> 0:03:28.080
<v Speaker 4>their first person shooter Battlefield. So there you go, Carol,

0:03:28.160 --> 0:03:29.760
<v Speaker 4>the game circle your calendar.

0:03:30.760 --> 0:03:31.240
<v Speaker 2>But yeah, this.

0:03:31.639 --> 0:03:34.839
<v Speaker 4>Compedy doing quite well and having some good success within

0:03:34.920 --> 0:03:37.640
<v Speaker 4>its its sporting divisions as well.

0:03:39.280 --> 0:03:43.320
<v Speaker 2>This stock Movers report from Bloomberg Radio. Check back with

0:03:43.400 --> 0:03:46.000
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:46.040 --> 0:03:49.120
<v Speaker 2>making news on Wall Street and for the latest market

0:03:49.160 --> 0:03:53.640
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:53.720 --> 0:03:57.240
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:57.320 --> 0:03:58.800
<v Speaker 2>the Bloomberg Business app.