1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:17,720 --> 00:00:19,960 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:19,960 --> 00:00:23,919 Speaker 1: We are joined by Bloomberg's Pritty Gupta. Lots more earnings 6 00:00:23,960 --> 00:00:26,840 Speaker 1: to get through this morning, the focus shifting from big 7 00:00:26,880 --> 00:00:30,120 Speaker 1: tech to big oil, but of course, with so much 8 00:00:30,200 --> 00:00:33,600 Speaker 1: weight that tech has on the broader indexes, let's start 9 00:00:33,640 --> 00:00:36,680 Speaker 1: with what's going on with Apple and Amazon. Good morning, Pritty, 10 00:00:37,040 --> 00:00:37,800 Speaker 1: Good morning, Nathan. 11 00:00:37,880 --> 00:00:42,080 Speaker 3: Let's do it. Apple really seeing a and has been 12 00:00:42,120 --> 00:00:44,320 Speaker 3: seeing a little bit of a warning and tough waters 13 00:00:44,360 --> 00:00:47,440 Speaker 3: ahead when it comes to their stock and their company, 14 00:00:47,479 --> 00:00:49,880 Speaker 3: especially when it comes to the tariff impact. Tim Cook 15 00:00:49,920 --> 00:00:53,320 Speaker 3: talking about a nine hundred million dollar hit to their 16 00:00:53,360 --> 00:00:56,200 Speaker 3: earnings that are just terror related in the quarter that 17 00:00:56,240 --> 00:00:59,160 Speaker 3: they just reported. So Apple very much taking a beating 18 00:00:59,200 --> 00:01:01,800 Speaker 3: this morning. In terms of share price, AAPL is your 19 00:01:01,800 --> 00:01:03,960 Speaker 3: ticker trading abut two hundred and six bucks a share, 20 00:01:04,040 --> 00:01:07,360 Speaker 3: down about three percent this morning. It's not alone, Nathan, 21 00:01:07,400 --> 00:01:10,119 Speaker 3: to your point, because Amazon's right on its heels. AMZN 22 00:01:10,280 --> 00:01:12,440 Speaker 3: is your ticker trading about one hundred and eighty eight 23 00:01:12,480 --> 00:01:15,920 Speaker 3: dollars a share down just shy of one percent this morning. 24 00:01:16,000 --> 00:01:18,760 Speaker 3: Amazon is interesting because of course they're going to get 25 00:01:18,840 --> 00:01:21,560 Speaker 3: hit by the tariffs as well, but they also reported 26 00:01:21,560 --> 00:01:24,960 Speaker 3: a miss when it comes to their clouds business unit AWS, 27 00:01:25,000 --> 00:01:29,319 Speaker 3: which actively competes with likes of Microsoft's Asia business, and 28 00:01:29,520 --> 00:01:32,680 Speaker 3: Oracle and Alphabet and all the other cloud players as well. 29 00:01:32,840 --> 00:01:35,600 Speaker 3: So Amazon, although sometimes we can see a pullback in 30 00:01:35,640 --> 00:01:40,200 Speaker 3: the commerce business, it's offset by their cloud business. This 31 00:01:40,280 --> 00:01:42,320 Speaker 3: time you saw a hit on both fronts, and that's 32 00:01:42,360 --> 00:01:45,720 Speaker 3: not something that the street is liking from a business 33 00:01:45,760 --> 00:01:48,040 Speaker 3: investment point of view, but also a tariff point of 34 00:01:48,120 --> 00:01:51,160 Speaker 3: view as well. So double whammy there for Apple and Amazon. 35 00:01:51,280 --> 00:01:55,360 Speaker 3: Very different from the messaging of Meta and Microsoft earlier 36 00:01:55,440 --> 00:01:56,840 Speaker 3: in the week. I want to stick with the tech 37 00:01:56,920 --> 00:01:58,360 Speaker 3: story a little bit, Nathan, I guess you can call 38 00:01:58,400 --> 00:02:03,080 Speaker 3: it a tech company. Airbnb is your biggest dropper this morning, 39 00:02:03,160 --> 00:02:05,800 Speaker 3: or your biggest weight this morning. Abnb is your ticker 40 00:02:06,520 --> 00:02:10,120 Speaker 3: down about five point six percent. This is the direct 41 00:02:10,280 --> 00:02:13,600 Speaker 3: impact of softness in US travel demand. All the times 42 00:02:13,600 --> 00:02:16,840 Speaker 3: we've talked about Europeans and Asians not wanting to come 43 00:02:17,040 --> 00:02:19,359 Speaker 3: to the United States, and that drop in tourism off 44 00:02:19,360 --> 00:02:22,959 Speaker 3: of some of the volatility emanating from Washington, DC. Airbnb 45 00:02:23,160 --> 00:02:25,040 Speaker 3: is confirming it to the point that they're giving a 46 00:02:25,080 --> 00:02:27,920 Speaker 3: fairly weak outlook in the read through and saying it 47 00:02:27,960 --> 00:02:30,880 Speaker 3: is actively affecting their bottom line in terms of the 48 00:02:30,960 --> 00:02:33,639 Speaker 3: input into the United States. Those shares down about five 49 00:02:33,639 --> 00:02:37,120 Speaker 3: percent this morning, trading at one hundred and seventeen dollars 50 00:02:37,160 --> 00:02:38,800 Speaker 3: a share. But Nathan, you mentioned it, it's not just 51 00:02:38,880 --> 00:02:42,120 Speaker 3: tech that's reported earnings, it's oil as well, big oil 52 00:02:42,160 --> 00:02:44,560 Speaker 3: specifically here in Europe. We had Shell come out with 53 00:02:44,639 --> 00:02:47,160 Speaker 3: their numbers. They reinforce their buybacks, launched a three and 54 00:02:47,200 --> 00:02:49,800 Speaker 3: a half billion dollars worth of share buybacks, and you 55 00:02:49,800 --> 00:02:52,040 Speaker 3: did see a massive rally despite some weakness in some 56 00:02:52,120 --> 00:02:56,679 Speaker 3: of their kind of operating margins. Chevron beat their estimates, 57 00:02:56,680 --> 00:03:00,000 Speaker 3: so the opposite of Shell, but missed on their buybacks. 58 00:03:00,040 --> 00:03:03,440 Speaker 3: So the point that is really suffering in the pre market. 59 00:03:03,440 --> 00:03:05,000 Speaker 3: I'll give you the numbers versus in the share price. 60 00:03:05,040 --> 00:03:07,400 Speaker 3: The second quarter buybacks coming in about two and a 61 00:03:07,480 --> 00:03:11,160 Speaker 3: half to three billion dollars. Their previous guidance was three 62 00:03:11,200 --> 00:03:13,959 Speaker 3: point nine billion dollars in their first quarter, so you 63 00:03:13,960 --> 00:03:15,960 Speaker 3: can see they're not suspending their buybacks, so they are 64 00:03:16,000 --> 00:03:18,480 Speaker 3: bringing them down just a touch, and the market is 65 00:03:18,520 --> 00:03:21,360 Speaker 3: punishing it for it, despite their earnings coming in strong, 66 00:03:21,400 --> 00:03:24,280 Speaker 3: down about two point four percent this morning. CVX is 67 00:03:24,320 --> 00:03:28,960 Speaker 3: your ticker, trading at just about one hundred and thirty 68 00:03:29,000 --> 00:03:30,919 Speaker 3: three bucks a share. When we talk about Chevron, we 69 00:03:30,919 --> 00:03:33,240 Speaker 3: got to talk about Xon as well and give the 70 00:03:33,280 --> 00:03:37,320 Speaker 3: company some love. XOM is your ticker this morning, and 71 00:03:37,400 --> 00:03:40,400 Speaker 3: traditionally the two move alike quite a bit, at XOM 72 00:03:40,640 --> 00:03:43,760 Speaker 3: moving in the opposite direction, trading higher by one point 73 00:03:44,080 --> 00:03:48,440 Speaker 3: three percent this morning. Their estimates actually coming in in line, 74 00:03:48,520 --> 00:03:50,640 Speaker 3: but it looks like there is always that relative trade 75 00:03:50,840 --> 00:03:53,160 Speaker 3: when it comes to Exon and Chevron, So Chevron's taking 76 00:03:53,160 --> 00:03:57,320 Speaker 3: a beating that tensely underpin Exon shares, but both reporting 77 00:03:57,400 --> 00:04:00,000 Speaker 3: lower profits ahead of those tariff numbers. 78 00:04:00,320 --> 00:04:06,080 Speaker 2: The Stockmovers podcast from Bloomberg Radio. 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