WEBVTT - Disney Jumps, Beyond Meat Plummets, Broadcom Rises on OpenAI Deal

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's get a check in on individual equity movers and

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<v Speaker 3>take a look at some stocks on the move. Paul

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<v Speaker 3>Sweni here with Scarlett Foo and we are joined now

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<v Speaker 3>by our very own Christina a Quino and Christine.

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<v Speaker 4>Let's start with Walt Disney.

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<v Speaker 1>Yeah, we need to talk about Walt Disney. That's having

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<v Speaker 1>a good day today. So Tick her Ds shares are

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<v Speaker 1>up just under one percent is your point nine percent,

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<v Speaker 1>but earlier is a more than one point three percent,

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<v Speaker 1>and it's all because of the Taylor Swift effect. We

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<v Speaker 1>have Disney Plus saying that they will air a six

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<v Speaker 1>part docu series on the behind the scenes action of

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<v Speaker 1>Taylor Swift's Ears toured that is the highest grossing concert

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<v Speaker 1>of all time. First episodes will air on the twelfth

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<v Speaker 1>of December, and we'll give a quote intimate look a

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<v Speaker 1>Taylor's life life. And yeah, that was major news for

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<v Speaker 1>the company. Earlier this morning when we got the announcement

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<v Speaker 1>via social media and good morning America. I have to

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<v Speaker 1>say I contributed to that highest grossing concert tour.

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<v Speaker 4>Did you metric?

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<v Speaker 1>Because I did. I flew twice to Europe last year.

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<v Speaker 1>There's a pirate, so yes, I am guilty of contributing.

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<v Speaker 2>So where did you see this?

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<v Speaker 1>I went to Lisbon, okay, and then I went to Amsterdam.

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<v Speaker 4>Awesome. Yeah, my daughter went down. She couldn't get tickets

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<v Speaker 4>here in New York, so she went down to Philadelphia.

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<v Speaker 4>It's a hotel room, the restaurant, you know, so the

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<v Speaker 4>multiplier effector.

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<v Speaker 1>You may make a trip out of it.

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<v Speaker 4>Sure, I'm waiting for the ECB to give you a

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<v Speaker 4>big shout out. Yes, what happened to beyond meat? Is

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<v Speaker 4>that still a thing beyond me?

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<v Speaker 1>Apparently it is, Paul, But yeah, it's not doing so well.

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<v Speaker 1>I was actually doing really badly. So shares ticker b

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<v Speaker 1>y Andy shares are down more than forty five percent.

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<v Speaker 1>Earlier it was down fifty eight percent. But either way,

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<v Speaker 1>it is down by the most on record. That is

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<v Speaker 1>because the company said that nearly all creditors had accepted

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<v Speaker 1>a debt swap that would lead to a substantial dilution

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<v Speaker 1>of shareholders. So this point was actually disclosed in September

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<v Speaker 1>and the point is to reduce leverage, and so the

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<v Speaker 1>idea was that if all holders decide to convert their notes,

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<v Speaker 1>then they would own just eighty eight percent of the stock.

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<v Speaker 1>And that's essentially what has happened. Shares have already declined

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<v Speaker 1>forty seven percent this year through Friday, and it's continuing today. Yeah,

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<v Speaker 1>troubles just continue. Remember when it was kind of there

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<v Speaker 1>were touting meatless products as the future, Well that didn't

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<v Speaker 1>pan out.

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<v Speaker 3>Yeah, it was like cannabis and then it was meatless

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<v Speaker 3>products and now it's AI.

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<v Speaker 4>So you know, the cycle continues. Let's take a look

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<v Speaker 4>at Broadcom.

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<v Speaker 3>I almost said a vago because the tickers ago and

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<v Speaker 3>that's what it used to be before it was that's right.

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<v Speaker 1>Yeah, well they did keep the tickers of abgo. Those

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<v Speaker 1>shares up nearly ten percent, nine point seven percent at

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<v Speaker 1>the moment. Massive deal with open Ai that was announced today.

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<v Speaker 1>They did sign a multi year agreement with that company,

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<v Speaker 1>and the idea was to collaborate on custom chips and

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<v Speaker 1>networking equipment. So the idea was Open Eye will design hardware,

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<v Speaker 1>Broadcom is going to develop it, and then the plan

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<v Speaker 1>is to add ten gigawatts worth of AI data center capacity,

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<v Speaker 1>and the companies are going to deploy racks of service

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<v Speaker 1>containing the gear in the second half of twenty twenty six,

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<v Speaker 1>So the AI theme just continues to.

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<v Speaker 2>Live on the Stock Movers report from Bloomberg Radio. Check

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