Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the.
Speaker 2: Stock Movers podcast. This is your roundup of companies making
Speaker 2: news on Wall Street and beyond, harnessing the power of
Speaker 2: Bloomberg Data.
Speaker 3: Let's take a look some of the stocks on the
Speaker 3: move today were joined by Isabel Lee, Bloomberg Cross Asset Reporter.
Speaker 4: I'm looking at Tesla, but it's not really on the move.
Speaker 4: It's flat forward this morning. But Tesla recalled all cyber
Speaker 4: trucks it produced and sold in the first fifteen months
Speaker 4: it's been on the US market. So it's really over
Speaker 4: a safety issue that it's having trouble of resolving.
Speaker 1: So this is one percent of the forty.
Speaker 4: Six thousand vehicles having a defect, So that's like four
Speaker 4: six hundred you have dead, Mama Mather. Yeah really, And
Speaker 4: they're saying pieces of this steel trimmer around the exterior
Speaker 4: of the truck has quote embrittlement, and I mean they
Speaker 4: said they'll replace all.
Speaker 1: The panels and et cetera.
Speaker 4: But I feel like it's more about sentiment, you know,
Speaker 4: like if you have a Tesla car, you might be
Speaker 4: worried about whether it's one of them.
Speaker 1: Well that's what I was wondering too.
Speaker 5: Though how much of the move in Tesla stock is
Speaker 5: due to Musk and versus actual fundamentals, And it feels
Speaker 5: like when you talk to analysts it's both.
Speaker 1: But it's just a matter.
Speaker 5: Of like what's going to continue. I guess to move it.
Speaker 5: I'm not really sure.
Speaker 4: We have Dad ives the biggest Tesla bul or one
Speaker 4: of we shouldn't really just throw on the prelatives like that.
Speaker 4: But he's saying that he's acknowledging that investors are nervous
Speaker 4: because of must involvement with the government and because he stretched,
Speaker 4: I mean it's you only have twenty four hours in
Speaker 4: a day.
Speaker 5: Yeah, we're talking Arouns Gerber, who owns the stock of
Speaker 5: Gerbert Kawaskin and associates, and he was like, I must
Speaker 5: needs to get back to Tesla.
Speaker 1: And do stuff. And I don't think he's ever coming back,
Speaker 1: Like he was mad. Yeah, what about that?
Speaker 3: To me, it's it's always been you think Elon Musk
Speaker 3: on the way up because there's no fundamental supporting you,
Speaker 3: and you grudge him on on the way down because
Speaker 3: it's all about Elon and the valuation impact that he
Speaker 3: brings to That story.
Speaker 5: So totally true with that Cayman Risk, All right, what
Speaker 5: else you're watching in video?
Speaker 4: So we have there's a lot of use around the
Speaker 4: stock actually, but for now it's edging higher by one
Speaker 4: and a half percent. We have the CEO calming investors
Speaker 4: basically saying that fears a deep seak are misplaced. He
Speaker 4: said new types of AI models that produce more complex
Speaker 4: answers will only increase the need for computing infrastructure. We
Speaker 4: also have an inclusive by FT saying that they interviewed
Speaker 4: Huang and Huang said that Invidia aims to spend hundreds
Speaker 4: of billions of dollars to produce US made chips and
Speaker 4: electronics over the next four years.
Speaker 1: So lots of good news there. But for something a
Speaker 1: little bit more.
Speaker 4: Ominous, let's look at the technical analysis. Vida is forming
Speaker 4: a desk cross. That's when the fifty day crosses below
Speaker 4: its long term moving average was just the two hundred
Speaker 4: day and usually when that happens, shares have fallen as
Speaker 4: much as fifty percent. And Innvidea has just really been
Speaker 4: trading sideways since May twenty twenty four. So maybe I
Speaker 4: mean it's the peak there, no.
Speaker 1: One, it feels down.
Speaker 3: It just feels to me again not being an AI expert,
Speaker 3: that that that AI lift to maybe in Vidia, maybe
Speaker 3: to the tech chector, maybe to the market overall that's
Speaker 3: kind of played out.
Speaker 1: It just feels to.
Speaker 4: Me and investors are just expecting more and more and more.
Speaker 4: Even when these companies beat, they didn't beat enough, So
Speaker 4: it's risky. What else you're looking at? Lastly, it's Darden.
Speaker 4: We have shares edging higher by more than seven percent.
Speaker 4: That's the most intra day since December nineteen. Management said
Speaker 4: it's implied fourth quarter guidance includes comparable sales growth above
Speaker 4: three percent, that's above consensus. And they also said that
Speaker 4: inflation levels are manageable, and they discussed ways in which
Speaker 4: they can mitigate a relatively limited tiriff exposures. They stated
Speaker 4: about eighty percent of its cost basket is domestically sourced.
Speaker 4: So I had to look up what restaurants are under
Speaker 4: Darden and it's Olive Garden, Longhorned Steakhouse, Mohamma Breeze Season,
Speaker 4: fifty two Yard House. They also have a fine dining
Speaker 4: restaurant chain Ruth's Chris Steakhouse, Eddiev's Prime and Capitol Grill.
Speaker 3: I haven't been to any all right, So if you're
Speaker 3: outside from New York and you got the world class steakhouses,
Speaker 3: but if you're outside in New York in the middle
Speaker 3: of nowhere, the Capitol Grill delivers.
Speaker 5: Yeah, I mean a capital grill down on Wall Street
Speaker 5: was like definitely a play to go and meet your
Speaker 5: contacts and hang.
Speaker 1: Out and that's in New York app.
Speaker 3: But I can't do that.
Speaker 5: Maybe it's the budget way to do it, all right, Isabelle,
Speaker 5: thanks very much, really appreciated, Bloomberg.
Speaker 2: Isabelle Cross, asset reporter the Stock Movers podcast from Bloomberg Radio.
Speaker 2: Check back with us throughout the day for the latest
Speaker 2: roundup of companies making news on Wall Street and for
Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live.
Speaker 2: Catch us on YouTube, Bloomberg dot com, and on Applecarplay
Speaker 2: and Android Auto with the Bloomberg Business app.