1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,120 Speaker 1: your roundup of companies making moves in the stock market 3 00:00:14,240 --> 00:00:18,640 Speaker 1: harnessing the power of Bloomberg Data. Let's take a look at. 4 00:00:18,480 --> 00:00:22,919 Speaker 2: Some stocks on the move today. We're joined by. 5 00:00:22,360 --> 00:00:24,080 Speaker 3: Yeah, and we've had a mixed picture in tech earning, 6 00:00:24,120 --> 00:00:26,160 Speaker 3: so I want to start there, Alphabet and Intel. We're 7 00:00:26,200 --> 00:00:30,200 Speaker 3: talking about Yes, Google parent Alphabet, We're starting there. It 8 00:00:30,280 --> 00:00:32,640 Speaker 3: shares a bit higher right the specifics or that it 9 00:00:32,680 --> 00:00:34,960 Speaker 3: reported a beat on first quarter revenue profit that was 10 00:00:35,000 --> 00:00:39,080 Speaker 3: thanks to strength and search advertising. Google Cloud actually brought 11 00:00:39,080 --> 00:00:42,320 Speaker 3: in operating profit beat estimates, although it's slightly missed on sales. 12 00:00:42,680 --> 00:00:44,720 Speaker 3: But this was really the news that the company needed 13 00:00:44,720 --> 00:00:47,159 Speaker 3: because it needs to justify all the spend that it 14 00:00:47,200 --> 00:00:49,520 Speaker 3: does in the AI race. It's been spending a lot 15 00:00:49,520 --> 00:00:52,600 Speaker 3: of money there because growing competition, right, you have to 16 00:00:52,640 --> 00:00:55,920 Speaker 3: spend more on infrastructure, on research, on talent, on all 17 00:00:55,960 --> 00:00:59,800 Speaker 3: those things. So, yes, Google does benefit from AI startups 18 00:00:59,840 --> 00:01:02,480 Speaker 3: at spend on it's you know, it's cloud and business tools. 19 00:01:02,520 --> 00:01:06,000 Speaker 3: But people are starting to think of conversational chatbots as 20 00:01:06,040 --> 00:01:09,360 Speaker 3: an alternative to Google Search, so that's what they're dealing with. 21 00:01:09,480 --> 00:01:12,640 Speaker 2: Nobody cares. All they want to know is YouTube killed it. Yeah, 22 00:01:12,800 --> 00:01:16,160 Speaker 2: because of their incredible creators like Lisa. 23 00:01:15,920 --> 00:01:20,480 Speaker 3: Mateo most definitely. Okay, so we mentioned Alphabet. Let's go 24 00:01:20,520 --> 00:01:22,920 Speaker 3: to Intel, so this is the flip side, right, so 25 00:01:22,959 --> 00:01:25,160 Speaker 3: you have their shares have been down as much as 26 00:01:25,160 --> 00:01:28,520 Speaker 3: seven percent week forecast for the current period and really 27 00:01:28,560 --> 00:01:31,000 Speaker 3: tough words from its CEO, Lip Bhutan. He delivered his 28 00:01:31,040 --> 00:01:33,320 Speaker 3: first earnings report from the company. So I wanted to 29 00:01:33,319 --> 00:01:36,160 Speaker 3: point out a couple of things. He said, corporate culture 30 00:01:36,360 --> 00:01:39,120 Speaker 3: needs a shake up, right, He's going to cut jobs, 31 00:01:39,200 --> 00:01:42,840 Speaker 3: remove layers of management, force everyone back to the office. 32 00:01:43,480 --> 00:01:46,840 Speaker 3: Expects operating costs to be reduced about seventeen billion this year, 33 00:01:46,920 --> 00:01:49,560 Speaker 3: sixteen billion in twenty twenty six. And then when it 34 00:01:49,600 --> 00:01:52,560 Speaker 3: comes to Levy's he said that a terra fueled recession 35 00:01:52,600 --> 00:01:55,000 Speaker 3: could torpedo chip demand. So he had a lot to 36 00:01:55,040 --> 00:01:58,120 Speaker 3: say in his first earnings report that came out. 37 00:01:58,640 --> 00:02:00,000 Speaker 2: It basically is just a mess. 38 00:02:00,200 --> 00:02:02,280 Speaker 3: I mean, you know it is, and he's got to 39 00:02:02,280 --> 00:02:05,040 Speaker 3: clean it up. We go to T Mobile, the second 40 00:02:05,080 --> 00:02:07,840 Speaker 3: largest wireless carrier in the US. We've been hearing about 41 00:02:07,840 --> 00:02:10,360 Speaker 3: it right at and TV Rizon. So now T Mobile 42 00:02:10,800 --> 00:02:13,120 Speaker 3: shairs have been lower as much as five percent mobile 43 00:02:13,120 --> 00:02:16,560 Speaker 3: phone subscribers missed about four hundred and ninety five thousand 44 00:02:16,639 --> 00:02:19,880 Speaker 3: subscribers that they added. It's still added more than AT 45 00:02:19,960 --> 00:02:23,720 Speaker 3: and T Verizon reported to decline, but weaker wireless numbers 46 00:02:23,760 --> 00:02:27,280 Speaker 3: really overshadowed kind of positive financial results. I mean, EPs, 47 00:02:27,320 --> 00:02:30,079 Speaker 3: you had top estimates first quarter revenue, two raise its 48 00:02:30,120 --> 00:02:33,399 Speaker 3: full year profit. But it's just this race to compete 49 00:02:33,560 --> 00:02:36,560 Speaker 3: in such a saturated market between these three. You know 50 00:02:36,720 --> 00:02:39,680 Speaker 3: it is people are tightening their budgets right, they're holding 51 00:02:39,680 --> 00:02:43,760 Speaker 3: onto their phones longer. The CEO says, the company is 52 00:02:43,840 --> 00:02:47,880 Speaker 3: not going to absorb the handset price increases. So you 53 00:02:47,960 --> 00:02:50,760 Speaker 3: have all these things going on. They're rolling out promotions, incentives, 54 00:02:50,760 --> 00:02:53,000 Speaker 3: they're just trying to get people to sign up for it. 55 00:02:53,160 --> 00:02:55,320 Speaker 2: So, I mean, I think AT and T did well 56 00:02:55,320 --> 00:02:58,160 Speaker 2: on their subs. Verizon and T Mobile did not do 57 00:02:58,200 --> 00:03:00,919 Speaker 2: well on their subs. And that's just this quarter. Next quarter, 58 00:03:00,960 --> 00:03:03,800 Speaker 2: it could be complete story, different story different. It's a 59 00:03:03,919 --> 00:03:06,360 Speaker 2: zero sum game. Basically, you know, okay, and this. 60 00:03:06,600 --> 00:03:09,760 Speaker 3: Whohoa, whoa, I look at it my cell phone bill. 61 00:03:09,840 --> 00:03:13,000 Speaker 2: It's not a zerous giving. It's like a bordage pin. 62 00:03:13,120 --> 00:03:15,639 Speaker 2: That's how they grow the revenue. It's just raising prices 63 00:03:15,720 --> 00:03:17,720 Speaker 2: and they do and they have and it's a it's 64 00:03:17,720 --> 00:03:21,239 Speaker 2: a triumply I don't know, triopoly. Yeah, maybe it's like 65 00:03:21,280 --> 00:03:23,440 Speaker 2: a bank. It's outrageous. 66 00:03:23,919 --> 00:03:26,239 Speaker 3: Tell me out on live shat am I run, I 67 00:03:26,320 --> 00:03:26,920 Speaker 3: think I'm wrong? 68 00:03:26,960 --> 00:03:27,320 Speaker 1: What else? 69 00:03:27,400 --> 00:03:31,440 Speaker 3: Family plan is killing me? Okay, So we go to sketchers. 70 00:03:32,280 --> 00:03:33,920 Speaker 3: Their shares have an off as much of five percent. 71 00:03:33,960 --> 00:03:36,920 Speaker 3: The reason why Withdrew is full your outlook global trade policies. 72 00:03:37,240 --> 00:03:39,120 Speaker 3: They make a big portion of their shoes from China 73 00:03:39,200 --> 00:03:42,880 Speaker 3: and Vietnam, so force quarter sales below estimates. But have 74 00:03:43,000 --> 00:03:45,920 Speaker 3: been trying to compete. Right, you have Nike and Adidas, 75 00:03:46,000 --> 00:03:48,640 Speaker 3: so they offer the cheaper alternative. Right, they're trying to 76 00:03:48,800 --> 00:03:51,320 Speaker 3: kind of break into that market. It CEO just says 77 00:03:51,360 --> 00:03:54,920 Speaker 3: they're trying to navigate. Talk about economic volatility, we've heard 78 00:03:54,960 --> 00:03:57,440 Speaker 3: that a lot too. The company said they're working to 79 00:03:57,560 --> 00:04:00,480 Speaker 3: lessen the impact of new twists share in the cost 80 00:04:00,520 --> 00:04:04,720 Speaker 3: with vendors optimizing supply chain, adjusting prices. But that too, 81 00:04:04,800 --> 00:04:06,720 Speaker 3: like we've seen with the wireless thing, this is a 82 00:04:06,760 --> 00:04:08,080 Speaker 3: big competitive market in. 83 00:04:08,080 --> 00:04:12,720 Speaker 1: The twenty five percent this year, the stock movers podcast 84 00:04:12,880 --> 00:04:16,080 Speaker 1: from Bloomberg Radio. Check back with us throughout the day 85 00:04:16,200 --> 00:04:19,440 Speaker 1: for the latest roundup of companies making news on Wall Street, 86 00:04:19,720 --> 00:04:23,080 Speaker 1: and for the latest market moving headlines. 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