WEBVTT - Alphabet's Earnings Beat; T-Mobile Customer Declines; Intel to Slash Workforce

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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<v Speaker 1>your roundup of companies making moves in the stock market

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's take a look at.

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<v Speaker 2>Some stocks on the move today. We're joined by.

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<v Speaker 3>Yeah, and we've had a mixed picture in tech earning,

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<v Speaker 3>so I want to start there, Alphabet and Intel. We're

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<v Speaker 3>talking about Yes, Google parent Alphabet, We're starting there. It

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<v Speaker 3>shares a bit higher right the specifics or that it

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<v Speaker 3>reported a beat on first quarter revenue profit that was

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<v Speaker 3>thanks to strength and search advertising. Google Cloud actually brought

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<v Speaker 3>in operating profit beat estimates, although it's slightly missed on sales.

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<v Speaker 3>But this was really the news that the company needed

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<v Speaker 3>because it needs to justify all the spend that it

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<v Speaker 3>does in the AI race. It's been spending a lot

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<v Speaker 3>of money there because growing competition, right, you have to

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<v Speaker 3>spend more on infrastructure, on research, on talent, on all

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<v Speaker 3>those things. So, yes, Google does benefit from AI startups

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<v Speaker 3>at spend on it's you know, it's cloud and business tools.

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<v Speaker 3>But people are starting to think of conversational chatbots as

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<v Speaker 3>an alternative to Google Search, so that's what they're dealing with.

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<v Speaker 2>Nobody cares. All they want to know is YouTube killed it. Yeah,

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<v Speaker 2>because of their incredible creators like Lisa.

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<v Speaker 3>Mateo most definitely. Okay, so we mentioned Alphabet. Let's go

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<v Speaker 3>to Intel, so this is the flip side, right, so

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<v Speaker 3>you have their shares have been down as much as

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<v Speaker 3>seven percent week forecast for the current period and really

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<v Speaker 3>tough words from its CEO, Lip Bhutan. He delivered his

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<v Speaker 3>first earnings report from the company. So I wanted to

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<v Speaker 3>point out a couple of things. He said, corporate culture

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<v Speaker 3>needs a shake up, right, He's going to cut jobs,

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<v Speaker 3>remove layers of management, force everyone back to the office.

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<v Speaker 3>Expects operating costs to be reduced about seventeen billion this year,

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<v Speaker 3>sixteen billion in twenty twenty six. And then when it

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<v Speaker 3>comes to Levy's he said that a terra fueled recession

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<v Speaker 3>could torpedo chip demand. So he had a lot to

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<v Speaker 3>say in his first earnings report that came out.

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<v Speaker 2>It basically is just a mess.

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<v Speaker 3>I mean, you know it is, and he's got to

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<v Speaker 3>clean it up. We go to T Mobile, the second

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<v Speaker 3>largest wireless carrier in the US. We've been hearing about

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<v Speaker 3>it right at and TV Rizon. So now T Mobile

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<v Speaker 3>shairs have been lower as much as five percent mobile

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<v Speaker 3>phone subscribers missed about four hundred and ninety five thousand

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<v Speaker 3>subscribers that they added. It's still added more than AT

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<v Speaker 3>and T Verizon reported to decline, but weaker wireless numbers

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<v Speaker 3>really overshadowed kind of positive financial results. I mean, EPs,

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<v Speaker 3>you had top estimates first quarter revenue, two raise its

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<v Speaker 3>full year profit. But it's just this race to compete

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<v Speaker 3>in such a saturated market between these three. You know

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<v Speaker 3>it is people are tightening their budgets right, they're holding

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<v Speaker 3>onto their phones longer. The CEO says, the company is

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<v Speaker 3>not going to absorb the handset price increases. So you

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<v Speaker 3>have all these things going on. They're rolling out promotions, incentives,

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<v Speaker 3>they're just trying to get people to sign up for it.

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<v Speaker 2>So, I mean, I think AT and T did well

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<v Speaker 2>on their subs. Verizon and T Mobile did not do

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<v Speaker 2>well on their subs. And that's just this quarter. Next quarter,

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<v Speaker 2>it could be complete story, different story different. It's a

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<v Speaker 2>zero sum game. Basically, you know, okay, and this.

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<v Speaker 3>Whohoa, whoa, I look at it my cell phone bill.

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<v Speaker 2>It's not a zerous giving. It's like a bordage pin.

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<v Speaker 2>That's how they grow the revenue. It's just raising prices

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<v Speaker 2>and they do and they have and it's a it's

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<v Speaker 2>a triumply I don't know, triopoly. Yeah, maybe it's like

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<v Speaker 2>a bank. It's outrageous.

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<v Speaker 3>Tell me out on live shat am I run, I

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<v Speaker 3>think I'm wrong?

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<v Speaker 1>What else?

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<v Speaker 3>Family plan is killing me? Okay, So we go to sketchers.

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<v Speaker 3>Their shares have an off as much of five percent.

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<v Speaker 3>The reason why Withdrew is full your outlook global trade policies.

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<v Speaker 3>They make a big portion of their shoes from China

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<v Speaker 3>and Vietnam, so force quarter sales below estimates. But have

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<v Speaker 3>been trying to compete. Right, you have Nike and Adidas,

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<v Speaker 3>so they offer the cheaper alternative. Right, they're trying to

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<v Speaker 3>kind of break into that market. It CEO just says

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<v Speaker 3>they're trying to navigate. Talk about economic volatility, we've heard

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<v Speaker 3>that a lot too. The company said they're working to

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<v Speaker 3>lessen the impact of new twists share in the cost

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<v Speaker 3>with vendors optimizing supply chain, adjusting prices. But that too,

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<v Speaker 3>like we've seen with the wireless thing, this is a

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<v Speaker 3>big competitive market in.

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<v Speaker 1>The twenty five percent this year, the stock movers podcast

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