1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:16,480 Speaker 1: harnessing the power of Bloomberg data. 4 00:00:17,079 --> 00:00:18,920 Speaker 2: Let's look at some of the stocks on the move today. 5 00:00:18,960 --> 00:00:21,000 Speaker 2: We are joined now by Bloomberg's a Lisa Manteo. 6 00:00:21,079 --> 00:00:23,040 Speaker 3: Lisa, all right, So we're starting with Tesla because it 7 00:00:23,040 --> 00:00:25,080 Speaker 3: was off more than five percent of the close yesterday 8 00:00:25,480 --> 00:00:28,280 Speaker 3: so far this morning, down as much as eight percent. Yes, 9 00:00:28,360 --> 00:00:30,360 Speaker 3: tariffs played a role, but that's not all. The thing 10 00:00:30,400 --> 00:00:32,920 Speaker 3: that changed today is that we learned that JP Morgan 11 00:00:33,000 --> 00:00:35,480 Speaker 3: Chase analyst Ryan Brinkman, he's one of Wall Street's most 12 00:00:35,520 --> 00:00:38,960 Speaker 3: bearished Tesla analysts, while he further reduced estimates for the 13 00:00:39,000 --> 00:00:42,120 Speaker 3: company's earnings. The reason why, while he said it was 14 00:00:42,200 --> 00:00:44,920 Speaker 3: due to that backlash against Elon Musk, how he's becoming 15 00:00:44,960 --> 00:00:48,040 Speaker 3: like this kind of polarizing figure, but he also pointed 16 00:00:48,080 --> 00:00:50,800 Speaker 3: to as we know Tesla's first quarter vehicle deliveries, they 17 00:00:50,800 --> 00:00:53,760 Speaker 3: were far below estimates, slumps to the lowess since twenty 18 00:00:53,840 --> 00:00:56,959 Speaker 3: twenty two, said that that report really shows that they 19 00:00:56,960 --> 00:01:00,200 Speaker 3: may have underestimated the degree of like consumer reaction and 20 00:01:01,040 --> 00:01:03,760 Speaker 3: other headwinds. Though it changed over production lines right at 21 00:01:03,760 --> 00:01:06,120 Speaker 3: each of its assembly plans to build that redesign model 22 00:01:06,240 --> 00:01:09,800 Speaker 3: y JP. Morgan now explexsla's first quarter earnings to slip 23 00:01:09,840 --> 00:01:12,000 Speaker 3: to thirty six cents a share, and that is just 24 00:01:12,040 --> 00:01:14,600 Speaker 3: short of the previous projection of forty cents a share. 25 00:01:15,319 --> 00:01:18,160 Speaker 3: But chairs have been really on the downward spiral since 26 00:01:18,200 --> 00:01:20,720 Speaker 3: hitting a record high of December seventeenth, The stock has 27 00:01:20,760 --> 00:01:24,160 Speaker 3: slumped forty four percent through the clothes on Thursday. Have 28 00:01:24,280 --> 00:01:27,000 Speaker 3: we had any update on what Elon Musk plans to do, 29 00:01:27,120 --> 00:01:29,039 Speaker 3: whether he's going to be staying with the doge, because 30 00:01:29,040 --> 00:01:32,360 Speaker 3: that was and I haven't seen any confirmations. 31 00:01:32,360 --> 00:01:33,720 Speaker 2: He seemed to deny it that he's going to stay 32 00:01:33,800 --> 00:01:35,680 Speaker 2: till the job's done, but I guess, like we don't 33 00:01:35,680 --> 00:01:39,640 Speaker 2: know what that actually means. That winds up looking like 34 00:01:39,640 --> 00:01:40,720 Speaker 2: all right, let's go to in video. 35 00:01:41,040 --> 00:01:43,080 Speaker 3: Yes, okay, So remember yesterday close the day off more 36 00:01:43,120 --> 00:01:45,759 Speaker 3: than seven percent. It's lowest since the last summer when 37 00:01:45,800 --> 00:01:47,600 Speaker 3: those fears about the delays of the rollout of the 38 00:01:47,600 --> 00:01:50,040 Speaker 3: Blackwell chips. So you remember that, but this morning it's 39 00:01:50,040 --> 00:01:52,480 Speaker 3: been down well more than seven percent. You know, US 40 00:01:52,560 --> 00:01:55,920 Speaker 3: chip makers are generating significant amount of sales in China, 41 00:01:56,080 --> 00:01:59,160 Speaker 3: So any additional duties on products sold inside the country, 42 00:01:59,160 --> 00:02:01,520 Speaker 3: well that could neg'll impact their business. So this is 43 00:02:01,520 --> 00:02:04,840 Speaker 3: why those shares have been lower. Why it's still lower today. Well, 44 00:02:04,880 --> 00:02:07,600 Speaker 3: we heard the news, right, China retaliated and imposed that 45 00:02:07,680 --> 00:02:10,799 Speaker 3: thirty four percent tariff on all American imports that starts 46 00:02:10,840 --> 00:02:14,919 Speaker 3: April tenth, So that's really escalating the trade war. Other 47 00:02:15,040 --> 00:02:17,160 Speaker 3: chip stocks that are affected you for example, you have 48 00:02:17,240 --> 00:02:20,160 Speaker 3: Intel off more than eight percent, Micron down as much 49 00:02:20,200 --> 00:02:22,320 Speaker 3: as twelve percent, you have broad Comments off as much 50 00:02:22,360 --> 00:02:24,520 Speaker 3: as seven percent, and qual Comm down as much as 51 00:02:24,520 --> 00:02:25,079 Speaker 3: five percent. 52 00:02:25,520 --> 00:02:27,520 Speaker 2: Unreal we are seen by the way, I just want 53 00:02:27,520 --> 00:02:30,679 Speaker 2: to point out here circle breaker triggered for restoration hardware 54 00:02:31,600 --> 00:02:34,120 Speaker 2: our age now all of a sudden starting again quickly 55 00:02:34,120 --> 00:02:36,880 Speaker 2: trimming some declines to seven point three percent. Like these 56 00:02:36,919 --> 00:02:39,800 Speaker 2: docks are moving really fast. I'm really whippy headlines wrapping 57 00:02:39,800 --> 00:02:41,960 Speaker 2: it up here with Wayfair getting a downgrade right due 58 00:02:41,960 --> 00:02:42,520 Speaker 2: to tariffs. 59 00:02:42,680 --> 00:02:44,799 Speaker 3: Yeah, so of course dealing with terras right, a lot 60 00:02:44,800 --> 00:02:47,440 Speaker 3: of retailers, we heard that yesterday it closed down. I 61 00:02:47,480 --> 00:02:51,280 Speaker 3: didn't even realize this, but twenty five percent yesterday before 62 00:02:51,360 --> 00:02:54,880 Speaker 3: the bell down as much as about six after the open, 63 00:02:54,919 --> 00:02:57,200 Speaker 3: it was down as much as sixteen percent. The difference 64 00:02:57,200 --> 00:02:59,560 Speaker 3: today is that it received yes the downgrade from City 65 00:02:59,600 --> 00:03:03,960 Speaker 3: to neutral buy. They said Wayfair still position great long term, 66 00:03:03,960 --> 00:03:06,480 Speaker 3: but tariffs have made the rist of revenue now greater. 67 00:03:07,040 --> 00:03:09,760 Speaker 3: It also added that the company's management has quote done 68 00:03:09,840 --> 00:03:12,119 Speaker 3: well in controlling what is in control, but it says 69 00:03:12,200 --> 00:03:15,520 Speaker 3: that those macroheadwinds, well, they're just too much to ignore 70 00:03:15,560 --> 00:03:17,880 Speaker 3: at this point. But what was really interesting about is 71 00:03:17,919 --> 00:03:20,680 Speaker 3: that City also said it sees eBay as a good 72 00:03:20,840 --> 00:03:23,640 Speaker 3: alternative because consumers are going to start looking for value 73 00:03:23,680 --> 00:03:25,359 Speaker 3: since maybe they're going to have to raise their prices. 74 00:03:25,360 --> 00:03:26,840 Speaker 3: They're going to say, hey, I'm going to go over 75 00:03:26,880 --> 00:03:30,640 Speaker 3: to eBay instead of Wayfair. But we'll see what happens. 76 00:03:32,000 --> 00:03:36,120 Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with 77 00:03:36,200 --> 00:03:38,960 Speaker 1: us throughout the day for the latest roundup of companies 78 00:03:39,000 --> 00:03:42,040 Speaker 1: making news on Wall Street and for the latest market 79 00:03:42,080 --> 00:03:46,400 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 80 00:03:46,480 --> 00:03:49,720 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 81 00:03:49,800 --> 00:03:51,280 Speaker 1: the Bloomberg Business app.