1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,160 --> 00:00:18,959 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:19,000 --> 00:00:21,599 Speaker 1: I'm Tim Steneveek along with Carol Masser, and we're joined 6 00:00:21,640 --> 00:00:26,479 Speaker 1: by Bloomberg News equity supporter Nour Melinda Nora. What's on 7 00:00:26,520 --> 00:00:28,000 Speaker 1: your radar today, Well, let's. 8 00:00:27,800 --> 00:00:32,400 Speaker 3: Take a look at shares of Coretiva. That's taker Ctva here, 9 00:00:32,720 --> 00:00:35,880 Speaker 3: and this is an agricultural products company. We saw shares 10 00:00:35,920 --> 00:00:39,159 Speaker 3: that fell about five point seven percent at market close today. 11 00:00:39,640 --> 00:00:43,000 Speaker 3: This is the most that we'd seen since April here, 12 00:00:43,200 --> 00:00:45,040 Speaker 3: and this is essentially after Wall Street said that they 13 00:00:45,040 --> 00:00:48,240 Speaker 3: are finding a potential breakup of the company. They're seed 14 00:00:48,280 --> 00:00:51,160 Speaker 3: and pesticized businesses as a negative for the firm. They're 15 00:00:51,200 --> 00:00:54,520 Speaker 3: saying that break up, the breakup undermines the product and 16 00:00:54,600 --> 00:00:57,520 Speaker 3: financial logic. That was BI saying that, and then Bank 17 00:00:57,560 --> 00:01:01,800 Speaker 3: of America saying that a separation to create two weaker entities. So, 18 00:01:01,840 --> 00:01:04,480 Speaker 3: of course, as we're getting all of this uh digestion 19 00:01:04,640 --> 00:01:06,680 Speaker 3: and people really just trying to figure out what this 20 00:01:06,680 --> 00:01:09,479 Speaker 3: would mean, this break up here. Wall Street does not 21 00:01:09,560 --> 00:01:10,560 Speaker 3: seem to be pleased. 22 00:01:10,560 --> 00:01:12,800 Speaker 1: Here we we should talk a little bit about how 23 00:01:12,840 --> 00:01:17,640 Speaker 1: this was a subsidiary of Dow DuPont and then there 24 00:01:17,680 --> 00:01:20,720 Speaker 1: was a Qua spin off back in like pre pandemic, 25 00:01:21,200 --> 00:01:22,640 Speaker 1: so then this would be like a spin off of 26 00:01:22,640 --> 00:01:23,160 Speaker 1: a spinoff. 27 00:01:23,240 --> 00:01:23,560 Speaker 2: Is that what? 28 00:01:24,319 --> 00:01:24,720 Speaker 4: I don't know. 29 00:01:24,840 --> 00:01:27,800 Speaker 5: I just these names that totally erase the history of 30 00:01:27,840 --> 00:01:29,080 Speaker 5: a company, essentially. 31 00:01:29,400 --> 00:01:31,679 Speaker 1: Please, I called the company today to figure out how 32 00:01:31,720 --> 00:01:34,160 Speaker 1: to say it. Did you? Cheryl Master taught me this? Great. 33 00:01:34,280 --> 00:01:35,360 Speaker 5: That's a really bad technique. 34 00:01:35,400 --> 00:01:37,440 Speaker 1: So it's a great technique. What do they say, Oh, 35 00:01:37,480 --> 00:01:38,080 Speaker 1: it's brilliant. 36 00:01:38,120 --> 00:01:40,040 Speaker 5: You just call and they pick up and they're. 37 00:01:39,800 --> 00:01:41,480 Speaker 1: Like, oh no, it's a recording sometimes too. 38 00:01:42,360 --> 00:01:45,279 Speaker 5: But if they pick up, you say or whatever. 39 00:01:45,400 --> 00:01:46,520 Speaker 1: Right, yeah, so which one is it? 40 00:01:47,200 --> 00:01:48,680 Speaker 3: Okay? Well, there we go. We have it. 41 00:01:51,280 --> 00:01:53,800 Speaker 4: I've put up on real people where they're like, well, 42 00:01:54,960 --> 00:01:59,280 Speaker 4: I can say, hey, I'm just wondering how this company 43 00:01:59,360 --> 00:02:01,400 Speaker 4: name is set, because it's like some of these names 44 00:02:01,440 --> 00:02:03,680 Speaker 4: are just made up, like Mandali's, Like, that's a made 45 00:02:03,720 --> 00:02:04,120 Speaker 4: up name. 46 00:02:04,200 --> 00:02:04,400 Speaker 2: I know. 47 00:02:04,600 --> 00:02:06,960 Speaker 5: Isn't that like a ride or a land in Disneyland? 48 00:02:07,000 --> 00:02:08,200 Speaker 1: I don't know, go to Mondoli? 49 00:02:08,840 --> 00:02:13,080 Speaker 3: Great anyway important company, Yes, one that I do know 50 00:02:13,080 --> 00:02:16,840 Speaker 3: how to pronounce. Core Weaves get shared IPO this year, 51 00:02:16,880 --> 00:02:19,800 Speaker 3: IPO this year. This is take or CRWV. Here we 52 00:02:19,840 --> 00:02:22,200 Speaker 3: saw shares that were up about seven point six percent 53 00:02:22,480 --> 00:02:24,400 Speaker 3: at market clothes and of course we know in Video 54 00:02:24,480 --> 00:02:27,200 Speaker 3: is a shareholder of this company. In Vidia has agreed 55 00:02:27,200 --> 00:02:30,840 Speaker 3: to buy cloud services valued at six point three billion dollars. 56 00:02:31,040 --> 00:02:33,480 Speaker 3: Of course, as you'd expect, the stock had a nice 57 00:02:33,520 --> 00:02:36,560 Speaker 3: pop today. This deal would require Nvidia to buy any 58 00:02:36,600 --> 00:02:40,080 Speaker 3: access to any excess capacity not used by its customers, 59 00:02:40,400 --> 00:02:42,840 Speaker 3: and this deal would run through twenty thirty two, and 60 00:02:42,919 --> 00:02:45,840 Speaker 3: Video saying that the agreement guarantees AI computing capacity will 61 00:02:45,840 --> 00:02:48,760 Speaker 3: be in place when needed to support startups and small 62 00:02:48,840 --> 00:02:51,440 Speaker 3: to mid size companies. And I mean just since the IPO, 63 00:02:51,480 --> 00:02:53,720 Speaker 3: if you look a year today, basis shares of core 64 00:02:53,760 --> 00:02:57,280 Speaker 3: Weaver up about two hundred and one percentas closed. 65 00:02:57,360 --> 00:03:01,480 Speaker 5: Core Weave has these big contracts, all of the hyperscalers 66 00:03:01,480 --> 00:03:06,720 Speaker 5: Microsoft as you mentioned, and Video and name Vidia deal 67 00:03:06,919 --> 00:03:08,720 Speaker 5: was announced a couple of years ago, right, So it's 68 00:03:08,800 --> 00:03:12,200 Speaker 5: just but it gives it, I guess, some transparency and 69 00:03:12,280 --> 00:03:15,000 Speaker 5: longevity in terms of understanding kind of the business to come. 70 00:03:15,160 --> 00:03:17,600 Speaker 3: It's just such an interesting stock to keep an eye 71 00:03:17,639 --> 00:03:21,679 Speaker 3: on it. It's what tripled since it's IPO. I mean, 72 00:03:21,840 --> 00:03:24,200 Speaker 3: I guess for investors here, they're seeing some pretty nice 73 00:03:24,240 --> 00:03:24,880 Speaker 3: returns this year. 74 00:03:25,120 --> 00:03:27,440 Speaker 5: Yeah, Microsoft are a huge customer of these guys. Right, 75 00:03:28,480 --> 00:03:31,160 Speaker 5: let's go to Alphabet. This was a big day for 76 00:03:31,200 --> 00:03:31,760 Speaker 5: this company. 77 00:03:31,800 --> 00:03:33,840 Speaker 3: This was a big day. I mean, of course, we 78 00:03:33,919 --> 00:03:35,880 Speaker 3: know this is a megacap that we all keep eyes 79 00:03:35,920 --> 00:03:39,520 Speaker 3: on here, but Alphabet joined the three trillion dollar club. 80 00:03:39,960 --> 00:03:41,760 Speaker 3: They are seeing that some of the key risks are 81 00:03:41,800 --> 00:03:44,280 Speaker 3: seen easing here. We know that this is a very 82 00:03:44,320 --> 00:03:47,640 Speaker 3: elite group to join the trillion dollar club. So I mean, 83 00:03:47,640 --> 00:03:49,760 Speaker 3: this is super great for the company. Here, we saw 84 00:03:49,800 --> 00:03:54,600 Speaker 3: shares of Alphabet that's taker Googl they were higher about 85 00:03:54,640 --> 00:03:58,040 Speaker 3: four point five percent, and as you'd expect, its highest 86 00:03:58,080 --> 00:04:01,520 Speaker 3: level ever. Just to call that out there, but this 87 00:04:01,640 --> 00:04:04,680 Speaker 3: was essentially fueled by a long awaited anti trust ruling 88 00:04:05,200 --> 00:04:08,440 Speaker 3: and second quarder earnings that showed demand for AI products 89 00:04:08,520 --> 00:04:11,080 Speaker 3: is lifting sales here. So I mean, I'm just looking 90 00:04:11,120 --> 00:04:13,640 Speaker 3: at the chart here, it's some really high up here 91 00:04:13,680 --> 00:04:16,960 Speaker 3: in the green. Chears of Alphabet are up about fifty 92 00:04:17,000 --> 00:04:18,479 Speaker 3: five percent so far this year. 93 00:04:19,600 --> 00:04:21,720 Speaker 5: Yeah, and was it City that raised I think their 94 00:04:22,160 --> 00:04:24,360 Speaker 5: outlook not outlook, who's your price? 95 00:04:24,360 --> 00:04:27,840 Speaker 3: Tast target company from two twenty five. They're pointing toward 96 00:04:27,880 --> 00:04:31,080 Speaker 3: an accelerated product development cycle that's beginning to emerge, and 97 00:04:31,120 --> 00:04:34,560 Speaker 3: they also point towards Gemini adoption both across the ads 98 00:04:34,600 --> 00:04:35,800 Speaker 3: and cloud businesses here. 99 00:04:35,839 --> 00:04:38,120 Speaker 5: So some of the regulatory legal overhang, right, it's gone 100 00:04:38,160 --> 00:04:41,080 Speaker 5: a way, so it lets the company have I guess 101 00:04:41,320 --> 00:04:44,000 Speaker 5: a more certain outlook visibility if you will goome. 102 00:04:44,120 --> 00:04:44,320 Speaker 4: Yeah. 103 00:04:44,320 --> 00:04:47,680 Speaker 1: I was a shocked to see the move post Chrome ruling. 104 00:04:48,200 --> 00:04:48,960 Speaker 1: That was huge. 105 00:04:49,240 --> 00:04:51,600 Speaker 5: Yeah, yeah, I'm what everybody was like, doing this crazy 106 00:04:51,720 --> 00:04:54,360 Speaker 5: like or people offering to buy Chrome. 107 00:04:54,440 --> 00:04:57,960 Speaker 1: It seemed like perplexity made like a very unrealistic offer. 108 00:04:58,000 --> 00:04:58,839 Speaker 1: Do we have time for one more? 109 00:04:58,960 --> 00:05:00,680 Speaker 3: Yeah? Let me see the more in there, Tesla. We 110 00:05:00,680 --> 00:05:03,599 Speaker 3: can't stop talking about that. Tak your tsla if you 111 00:05:03,640 --> 00:05:07,480 Speaker 3: didn't know it already. We are seeing the stock popping, 112 00:05:07,480 --> 00:05:12,520 Speaker 3: of course today because Musk bought one billion dollars worth 113 00:05:12,520 --> 00:05:14,400 Speaker 3: of shares in the company. Of course, we're really been 114 00:05:14,440 --> 00:05:16,640 Speaker 3: thinking about the fact that they were boosting its pay 115 00:05:16,720 --> 00:05:18,440 Speaker 3: We've been talking about the board and this seems to 116 00:05:18,480 --> 00:05:21,160 Speaker 3: be his reaction to it, so of course, shareholders, or 117 00:05:21,160 --> 00:05:23,720 Speaker 3: please hear shares of Tesla up fifty percent. You're okay. 118 00:05:23,920 --> 00:05:25,800 Speaker 1: It sounds like a lot of money. Billion dollars is 119 00:05:25,800 --> 00:05:28,799 Speaker 1: a lot of money. But Elon Musk's net worth increased 120 00:05:28,800 --> 00:05:31,640 Speaker 1: today by ten point two billion dollars. 121 00:05:31,800 --> 00:05:33,679 Speaker 5: Yeah, so that's a nice return. 122 00:05:34,040 --> 00:05:35,600 Speaker 1: So he buys I'll take it. 123 00:05:35,720 --> 00:05:38,520 Speaker 5: He buys a billion, but make nineteen eight. 124 00:05:38,560 --> 00:05:40,960 Speaker 1: Well it updated once again since I last said it's 125 00:05:41,080 --> 00:05:44,719 Speaker 1: now Now it's ten point two, so make ten point two. Yeah, 126 00:05:44,800 --> 00:05:47,159 Speaker 1: so that's fine. Rich, go on the Bloomberg terminal. 127 00:05:47,160 --> 00:05:49,080 Speaker 3: A lot of days were fun function. 128 00:05:50,760 --> 00:05:54,800 Speaker 2: This stock Movers report from Bloomberg Radio. Check back with 129 00:05:54,880 --> 00:05:57,479 Speaker 2: us throughout the day for the latest roundup of companies 130 00:05:57,520 --> 00:06:00,240 Speaker 2: making news on Wall Street and for the it is 131 00:06:00,320 --> 00:06:04,480 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 132 00:06:04,520 --> 00:06:08,239 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 133 00:06:08,279 --> 00:06:10,240 Speaker 2: Auto with the Bloomberg Business app.