Speaker 1: Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data.
Speaker 2: Let's take a look at some of the stocks on
Speaker 2: the move today. We can do that with Bloomberg's Bailey Lipschultz,
Speaker 2: senior equities reporter for Bloomberg News. Bailey, what are you
Speaker 2: looking at?
Speaker 3: Nowhere else to start other than NVIDIA. Ticker NVDA, as
Speaker 3: Charlie was mentioning, up right now about 8%. This does
Speaker 3: come after the company said they expect revenue will grow
Speaker 3: another 70% next fiscal year, easing some of those concerns
Speaker 3: that maybe AI spending was losing momentum. Projected sales for
Speaker 3: 2020 beating expectations for 2020. analysts that were penciling in
Speaker 3: closer to 45%. So a massive jump. And one thing
Speaker 3: to keep in mind, yes, this is now almost back
Speaker 3: to $ 5. 5 trillion in market cap. One day right now
Speaker 3: is added more than $ 423 billion, which is essentially a
Speaker 3: Costco or a Palantir. So breathtaking move.
Speaker 1: Oh, I like that kind of context. Thank you so much, Billy.
Speaker 1: All right. Next up on your list.
Speaker 3: Salesforce ticker CRM right now up, call it 22 percent.
Speaker 3: Biggest move since August 2020. Better than expected outlook and
Speaker 3: kind of the elephant in the room has been AI
Speaker 3: in how this company and among others can better build
Speaker 3: a moat. But they're actually partnering with Anthropic. for what
Speaker 3: they're calling a clawed force. So really trying to lean
Speaker 3: into AI bulls and bears have kind of divided on
Speaker 3: this again, big move for the stock up 20%, 22%
Speaker 3: right now. But when you look over the last 12 months,
Speaker 3: the company is still down about 14%. So the push
Speaker 3: and take really is AI potential to drive growth for
Speaker 3: Salesforce and kind of trying to balance out the fact
Speaker 3: that an anthropic has been at least that whole notion
Speaker 3: of a SaaS apocalypse has been weighing on sentiment for
Speaker 3: the entire industry. It does seem like this print and
Speaker 3: that partnership is going to lay the concerns for at
Speaker 3: least right now.
Speaker 2: You just knew that was going to happen. When they
Speaker 2: saw those names down 20, 30 percent, you just want
Speaker 2: to jump in both feet because Microsoft, Salesforce, are you
Speaker 2: kidding me?
Speaker 3: At some point, the bottom was going to be in.
Speaker 3: And it's interesting because when you look at the biggest concerns, obviously,
Speaker 3: throughout earlier this year, but Salesforce actually hit their bottom
Speaker 3: based on my ability to read a terminal in June.
Speaker 3: since June 22nd, it's up 66%.
Speaker 2: Yep, saw that a mile away. Did I do anything?
Speaker 3: No. All right, one more. HPQ, HP Inc., ticker HPQ,
Speaker 3: down more than 5% right now. Earnings weren't that bad,
Speaker 3: but when you kind of dig under the surface, looking
Speaker 3: at the team over at Bloomberg Intelligence, they said, you know,
Speaker 3: an 11 cent EPS contribution from tariff refunds masked the
Speaker 3: challenges that the company's facing in profitability. Obviously, we've been
Speaker 3: talking ad nauseum about rising memory costs, so that continuing
Speaker 3: to kind of impact some of these companies, impact a
Speaker 3: company like HP in particular. Again, HPQ down 5.5%, but
Speaker 3: year-to-date still up close to 30%.
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