WEBVTT - Home Depot, AMD Rises; Novo Sinks on Obesity Flop

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.560 --> 0:00:18.639
<v Speaker 3>Let's take a look at the stocks on the move today.

0:00:18.640 --> 0:00:21.279
<v Speaker 3>I'm Tim Steneviek along with Carol Master. We are joined

0:00:21.280 --> 0:00:24.360
<v Speaker 3>by Bloomberg Television Markets correspondent Normal Linda. Did you find

0:00:24.400 --> 0:00:25.680
<v Speaker 3>any stocks that we're moving lower?

0:00:25.920 --> 0:00:27.840
<v Speaker 4>Yeah, but I'll save that for a little later. We're

0:00:27.840 --> 0:00:29.400
<v Speaker 4>going to start with one that's in the green. I'm

0:00:29.400 --> 0:00:32.160
<v Speaker 4>looking at shares of Home Depot. This is the company

0:00:32.159 --> 0:00:34.320
<v Speaker 4>that reported We did see pretty much a beat across

0:00:34.360 --> 0:00:36.680
<v Speaker 4>the border, especially as we look at the key metrics

0:00:36.720 --> 0:00:39.520
<v Speaker 4>for sales. But there's still a lot of concern out

0:00:39.520 --> 0:00:42.720
<v Speaker 4>in the market. People are thinking about the macroeconomic environment

0:00:42.720 --> 0:00:45.440
<v Speaker 4>and how it still continues to weigh on the real

0:00:45.520 --> 0:00:48.879
<v Speaker 4>estate industry and any sort of home improvement related company.

0:00:49.080 --> 0:00:51.000
<v Speaker 4>So you do see shares of Home Depot on the

0:00:51.120 --> 0:00:53.760
<v Speaker 4>rise or up about two point three percent right now

0:00:53.760 --> 0:00:54.880
<v Speaker 4>as we speak. If you take a look at the

0:00:54.920 --> 0:00:57.360
<v Speaker 4>year to day basis, they're up about almost twelve percent

0:00:57.520 --> 0:00:59.760
<v Speaker 4>so far this year. But as I was speaking to

0:00:59.800 --> 0:01:01.720
<v Speaker 4>so and is we're really seeing a lot of people

0:01:01.760 --> 0:01:04.360
<v Speaker 4>talking about on Wall Street. It's just still that concern

0:01:04.400 --> 0:01:06.400
<v Speaker 4>as to whether or not we're actually able to see

0:01:06.680 --> 0:01:09.679
<v Speaker 4>this company being able to really weather the storm that

0:01:09.880 --> 0:01:12.679
<v Speaker 4>is the macro and some saying that we've been seeing

0:01:12.680 --> 0:01:16.360
<v Speaker 4>this for years after year after year. Maybe how many

0:01:16.360 --> 0:01:17.959
<v Speaker 4>people need to get a little bit more creative with

0:01:18.000 --> 0:01:20.800
<v Speaker 4>how they're actually able to grapple with this situation that's

0:01:20.959 --> 0:01:21.440
<v Speaker 4>not their.

0:01:21.319 --> 0:01:27.000
<v Speaker 5>Fault, yeah, I mean tied to the consumer, right, like

0:01:27.160 --> 0:01:30.600
<v Speaker 5>projects and contractors, right, that's a big part of their business, right,

0:01:30.640 --> 0:01:33.080
<v Speaker 5>So uh yeah, we'll.

0:01:32.920 --> 0:01:34.920
<v Speaker 4>Have to keep an eye. I mean earlier hit it's

0:01:34.959 --> 0:01:37.440
<v Speaker 4>highest since November, and we do have its peer Lowe's

0:01:37.480 --> 0:01:38.520
<v Speaker 4>reporting tomorrow.

0:01:38.760 --> 0:01:42.160
<v Speaker 1>Yeah, all right, check of retail eighty five dollars stock. Yeah,

0:01:42.240 --> 0:01:46.440
<v Speaker 1>it's still pricey. I don't know, I don't know what

0:01:47.800 --> 0:01:50.600
<v Speaker 1>I would not say that, but it's you said maybe

0:01:51.000 --> 0:01:55.920
<v Speaker 1>maybe say maybe, I don't know that's operative word there.

0:01:57.360 --> 0:01:59.400
<v Speaker 5>All right, Let's go to something we were talking about

0:01:59.440 --> 0:02:03.360
<v Speaker 5>a lot on Monday, right, the battle between Novo and Elilu.

0:02:03.480 --> 0:02:06.160
<v Speaker 4>Yeah, I mean, Tim, you want some decliners want take

0:02:06.160 --> 0:02:09.600
<v Speaker 4>a look at Novo Nordis take our Envo tick r

0:02:09.760 --> 0:02:12.680
<v Speaker 4>ll Y both declining. We know that this story continues

0:02:12.720 --> 0:02:14.840
<v Speaker 4>to evolve, as we've been seeing the most of them

0:02:14.919 --> 0:02:17.000
<v Speaker 4>kind of going head to head. But the latest news

0:02:17.240 --> 0:02:20.399
<v Speaker 4>is that Novo Nordis plans to slash the US prices

0:02:20.400 --> 0:02:23.800
<v Speaker 4>for its medicines will Gov and Ozembic next year. We

0:02:23.840 --> 0:02:25.640
<v Speaker 4>know that this is a company that's really been struggling

0:02:25.840 --> 0:02:28.080
<v Speaker 4>when we think about itself keeping up as a major

0:02:28.120 --> 0:02:30.920
<v Speaker 4>competitor in this space as we think about the obesity

0:02:30.960 --> 0:02:34.120
<v Speaker 4>weight loss drug industry more broadly. They're saying that the

0:02:34.120 --> 0:02:37.200
<v Speaker 4>lower prices could reduce out of pocket costs for some

0:02:37.320 --> 0:02:40.480
<v Speaker 4>customers that have insurance that requires them to cover a

0:02:40.600 --> 0:02:43.519
<v Speaker 4>larger portion of their drug costs. But we'll have to

0:02:43.520 --> 0:02:45.800
<v Speaker 4>see how this trickles out. But as for now on

0:02:45.840 --> 0:02:47.640
<v Speaker 4>Wall Street, it seems as though people are still a

0:02:47.680 --> 0:02:50.400
<v Speaker 4>bit skeptical, skeptical about the company as a whole, and

0:02:50.480 --> 0:02:54.120
<v Speaker 4>you're seeing its peer Eliley also falling after this news.

0:02:54.200 --> 0:02:57.400
<v Speaker 5>Maybe they're just cranky over yesterday's news, right, they had

0:02:57.400 --> 0:03:03.320
<v Speaker 5>some disappointment and maybe yeah, to go up against an

0:03:03.400 --> 0:03:07.160
<v Speaker 5>Eli Lilly product, and maybe they're just like, we'll take that,

0:03:07.200 --> 0:03:11.560
<v Speaker 5>We'll just devices. I'm just guessing Vice is notculating not

0:03:11.600 --> 0:03:15.519
<v Speaker 5>good for companies, but good for consumers. Yeah, hopefully right, Yeah,

0:03:15.600 --> 0:03:18.920
<v Speaker 5>all right, I love this. We talked about this, We

0:03:18.960 --> 0:03:21.720
<v Speaker 5>all are talking about this a lot. Advanced micro devices.

0:03:21.800 --> 0:03:23.440
<v Speaker 4>Yes, I mean, we can't keep our eyes off of

0:03:23.480 --> 0:03:25.680
<v Speaker 4>tech at this point, as we've really been digging into

0:03:25.720 --> 0:03:28.480
<v Speaker 4>some of these companies. Shares of AMD today up about

0:03:28.600 --> 0:03:31.640
<v Speaker 4>nine percent right now in the trade. This is, of course,

0:03:31.680 --> 0:03:34.920
<v Speaker 4>after Meta said that it would buy the company's chips

0:03:34.960 --> 0:03:38.760
<v Speaker 4>and computers designed to run AI models. We see AMD

0:03:38.840 --> 0:03:40.920
<v Speaker 4>as a second best performing stock in the S and

0:03:40.920 --> 0:03:43.480
<v Speaker 4>P five hundred today, So clearly Wall Street is taking

0:03:43.480 --> 0:03:45.960
<v Speaker 4>a liking to this. Take a look at shares of AMD,

0:03:46.120 --> 0:03:48.120
<v Speaker 4>though year to date not too much action. They're what

0:03:48.440 --> 0:03:50.840
<v Speaker 4>just below flat on the year, down about one tenth

0:03:50.840 --> 0:03:53.160
<v Speaker 4>of a percent year to date here in twenty twenty six.

0:03:53.400 --> 0:03:55.680
<v Speaker 4>But this deal in particular is expected to begin in

0:03:55.720 --> 0:03:58.280
<v Speaker 4>the second half of twenty twenty six, and they're saying

0:03:58.280 --> 0:04:02.560
<v Speaker 4>that it'll be worth double digit billions of dollars per gigawatt,

0:04:02.680 --> 0:04:05.760
<v Speaker 4>So massive action that we're seeing here, and certainly you're

0:04:05.800 --> 0:04:07.600
<v Speaker 4>seeing Wall Street taking a liking.

0:04:07.880 --> 0:04:10.240
<v Speaker 5>An AMD was a star last year. Is that like

0:04:10.360 --> 0:04:11.960
<v Speaker 5>seventy seven, seventy eight percent.

0:04:12.280 --> 0:04:15.720
<v Speaker 3>So yeah's I'm slicking at the year today, Yeah, glad.

0:04:15.760 --> 0:04:18.080
<v Speaker 3>But at two hundred and fifteen dollars a share right

0:04:18.080 --> 0:04:21.120
<v Speaker 3>now today, it's surging. And remember, as Ed reminded us.

0:04:21.360 --> 0:04:24.600
<v Speaker 5>Six ninety nine, what was this six six it has.

0:04:24.520 --> 0:04:26.360
<v Speaker 1>To do, yeah, for one of the warrants, for one

0:04:26.400 --> 0:04:28.000
<v Speaker 1>of the warrants for Meta.

0:04:27.920 --> 0:04:29.680
<v Speaker 3>This is it's the structure of the deal is a

0:04:29.680 --> 0:04:32.560
<v Speaker 3>little different than other you know, quote unquote deals that

0:04:32.600 --> 0:04:34.760
<v Speaker 3>we've seen between the hyperscalers.

0:04:34.880 --> 0:04:35.120
<v Speaker 1>Yeah.

0:04:35.279 --> 0:04:38.080
<v Speaker 3>Yeah, and Met as a different company too, because it's

0:04:38.120 --> 0:04:41.800
<v Speaker 3>not it's doesn't sell capacity like you know, these other

0:04:42.000 --> 0:04:45.320
<v Speaker 3>providers like an AWS or Microsoft. So yeah, yeah, it's

0:04:45.320 --> 0:04:48.200
<v Speaker 3>still still questions about the you know, quote unquote circular funding.

0:04:48.400 --> 0:04:51.599
<v Speaker 5>But if it exercises all those if Meta exercises all

0:04:51.640 --> 0:04:54.400
<v Speaker 5>those warrants, right, they could become a very significant shareholder

0:04:54.440 --> 0:04:54.880
<v Speaker 5>in AMD.

0:04:56.480 --> 0:05:00.720
<v Speaker 2>This stock Mover's report from Bloomberg Radio. Back with us

0:05:00.720 --> 0:05:03.560
<v Speaker 2>throughout the day for the latest roundup of companies making

0:05:03.600 --> 0:05:07.200
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:05:07.440 --> 0:05:11.440
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:05:11.480 --> 0:05:14.560
<v Speaker 2>dot com, and on Applecarplay. And Android Auto with the

0:05:14.600 --> 0:05:15.960
<v Speaker 2>Bloomberg Business App.