WEBVTT - Nvidia Rises, Salesforce Jumps, HP Falls on Investor Concerns About PC Demand

0:00:02.529 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report,

0:00:10.230 --> 0:00:13.400
<v Speaker 1>your roundup of companies making moves in the stock market,

0:00:13.700 --> 0:00:15.860
<v Speaker 1>harnessing the power of Bloomberg data.

0:00:15.880 --> 0:00:18.020
<v Speaker 2>Let's take a look at some of the stocks on

0:00:18.040 --> 0:00:20.610
<v Speaker 2>the move today. We can do that with Bloomberg's Bailey Lipschultz,

0:00:21.130 --> 0:00:23.329
<v Speaker 2>senior equities reporter for Bloomberg News. Bailey, what are you

0:00:23.350 --> 0:00:23.590
<v Speaker 2>looking at?

0:00:23.890 --> 0:00:27.210
<v Speaker 3>Nowhere else to start other than NVIDIA. Ticker NVDA, as

0:00:27.250 --> 0:00:30.520
<v Speaker 3>Charlie was mentioning, up right now about 8%. This does

0:00:30.580 --> 0:00:33.220
<v Speaker 3>come after the company said they expect revenue will grow

0:00:33.460 --> 0:00:38.570
<v Speaker 3>another 70% next fiscal year, easing some of those concerns

0:00:38.590 --> 0:00:42.570
<v Speaker 3>that maybe AI spending was losing momentum. Projected sales for

0:00:42.570 --> 0:00:45.870
<v Speaker 3>2020 beating expectations for 2020. analysts that were penciling in

0:00:45.890 --> 0:00:49.379
<v Speaker 3>closer to 45%. So a massive jump. And one thing

0:00:49.400 --> 0:00:51.880
<v Speaker 3>to keep in mind, yes, this is now almost back

0:00:51.920 --> 0:00:55.240
<v Speaker 3>to $ 5. 5 trillion in market cap. One day right now

0:00:55.620 --> 0:01:00.950
<v Speaker 3>is added more than $ 423 billion, which is essentially a

0:01:01.070 --> 0:01:03.870
<v Speaker 3>Costco or a Palantir. So breathtaking move.

0:01:04.380 --> 0:01:06.760
<v Speaker 1>Oh, I like that kind of context. Thank you so much, Billy.

0:01:06.780 --> 0:01:08.380
<v Speaker 1>All right. Next up on your list.

0:01:08.780 --> 0:01:12.320
<v Speaker 3>Salesforce ticker CRM right now up, call it 22 percent.

0:01:12.360 --> 0:01:17.360
<v Speaker 3>Biggest move since August 2020. Better than expected outlook and

0:01:17.410 --> 0:01:20.250
<v Speaker 3>kind of the elephant in the room has been AI

0:01:20.550 --> 0:01:23.789
<v Speaker 3>in how this company and among others can better build

0:01:23.830 --> 0:01:27.190
<v Speaker 3>a moat. But they're actually partnering with Anthropic. for what

0:01:27.209 --> 0:01:30.420
<v Speaker 3>they're calling a clawed force. So really trying to lean

0:01:30.480 --> 0:01:33.220
<v Speaker 3>into AI bulls and bears have kind of divided on

0:01:33.250 --> 0:01:34.990
<v Speaker 3>this again, big move for the stock up 20%, 22%

0:01:34.990 --> 0:01:38.990
<v Speaker 3>right now. But when you look over the last 12 months,

0:01:39.010 --> 0:01:42.050
<v Speaker 3>the company is still down about 14%. So the push

0:01:42.150 --> 0:01:46.670
<v Speaker 3>and take really is AI potential to drive growth for

0:01:46.890 --> 0:01:50.220
<v Speaker 3>Salesforce and kind of trying to balance out the fact

0:01:50.300 --> 0:01:54.040
<v Speaker 3>that an anthropic has been at least that whole notion

0:01:54.060 --> 0:01:56.160
<v Speaker 3>of a SaaS apocalypse has been weighing on sentiment for

0:01:56.180 --> 0:01:58.480
<v Speaker 3>the entire industry. It does seem like this print and

0:01:58.500 --> 0:02:00.360
<v Speaker 3>that partnership is going to lay the concerns for at

0:02:00.380 --> 0:02:00.800
<v Speaker 3>least right now.

0:02:01.460 --> 0:02:03.200
<v Speaker 2>You just knew that was going to happen. When they

0:02:03.220 --> 0:02:06.460
<v Speaker 2>saw those names down 20, 30 percent, you just want

0:02:06.500 --> 0:02:09.580
<v Speaker 2>to jump in both feet because Microsoft, Salesforce, are you

0:02:09.620 --> 0:02:09.970
<v Speaker 2>kidding me?

0:02:10.150 --> 0:02:11.550
<v Speaker 3>At some point, the bottom was going to be in.

0:02:11.590 --> 0:02:15.530
<v Speaker 3>And it's interesting because when you look at the biggest concerns, obviously,

0:02:15.590 --> 0:02:18.549
<v Speaker 3>throughout earlier this year, but Salesforce actually hit their bottom

0:02:18.930 --> 0:02:22.390
<v Speaker 3>based on my ability to read a terminal in June.

0:02:22.860 --> 0:02:25.639
<v Speaker 3>since June 22nd, it's up 66%.

0:02:25.639 --> 0:02:27.959
<v Speaker 2>Yep, saw that a mile away. Did I do anything?

0:02:28.160 --> 0:02:33.470
<v Speaker 3>No. All right, one more. HPQ, HP Inc., ticker HPQ,

0:02:33.500 --> 0:02:36.430
<v Speaker 3>down more than 5% right now. Earnings weren't that bad,

0:02:36.490 --> 0:02:38.430
<v Speaker 3>but when you kind of dig under the surface, looking

0:02:38.490 --> 0:02:40.910
<v Speaker 3>at the team over at Bloomberg Intelligence, they said, you know,

0:02:41.010 --> 0:02:45.450
<v Speaker 3>an 11 cent EPS contribution from tariff refunds masked the

0:02:45.510 --> 0:02:48.510
<v Speaker 3>challenges that the company's facing in profitability. Obviously, we've been

0:02:48.550 --> 0:02:51.940
<v Speaker 3>talking ad nauseum about rising memory costs, so that continuing

0:02:51.960 --> 0:02:54.250
<v Speaker 3>to kind of impact some of these companies, impact a

0:02:54.350 --> 0:02:57.570
<v Speaker 3>company like HP in particular. Again, HPQ down 5.5%, but

0:02:57.590 --> 0:02:59.830
<v Speaker 3>year-to-date still up close to 30%.

0:02:59.830 --> 0:03:05.609
<v Speaker 1>The Stock Movers Report from Bloomberg Radio. Check back with

0:03:05.690 --> 0:03:08.220
<v Speaker 1>us throughout the day for the latest roundup of companies

0:03:08.310 --> 0:03:12.260
<v Speaker 1>making news on Wall Street. And for the latest market-moving headlines,

0:03:12.560 --> 0:03:17.080
<v Speaker 1>listen to Bloomberg Radio live. Catch us on YouTube, Bloomberg.com,

0:03:17.300 --> 0:03:20.260
<v Speaker 1>and on Apple CarPlay and Android Auto with the Bloomberg

0:03:20.300 --> 0:03:20.940
<v Speaker 1>Business app.