Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
Speaker 1: your roundup of companies making moves in the stock market
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look at.
Speaker 2: Some stocks on the move today. We're joined by.
Speaker 3: Yeah, and we've had a mixed picture in tech earning,
Speaker 3: so I want to start there, Alphabet and Intel. We're
Speaker 3: talking about Yes, Google parent Alphabet, We're starting there. It
Speaker 3: shares a bit higher right the specifics or that it
Speaker 3: reported a beat on first quarter revenue profit that was
Speaker 3: thanks to strength and search advertising. Google Cloud actually brought
Speaker 3: in operating profit beat estimates, although it's slightly missed on sales.
Speaker 3: But this was really the news that the company needed
Speaker 3: because it needs to justify all the spend that it
Speaker 3: does in the AI race. It's been spending a lot
Speaker 3: of money there because growing competition, right, you have to
Speaker 3: spend more on infrastructure, on research, on talent, on all
Speaker 3: those things. So, yes, Google does benefit from AI startups
Speaker 3: at spend on it's you know, it's cloud and business tools.
Speaker 3: But people are starting to think of conversational chatbots as
Speaker 3: an alternative to Google Search, so that's what they're dealing with.
Speaker 2: Nobody cares. All they want to know is YouTube killed it. Yeah,
Speaker 2: because of their incredible creators like Lisa.
Speaker 3: Mateo most definitely. Okay, so we mentioned Alphabet. Let's go
Speaker 3: to Intel, so this is the flip side, right, so
Speaker 3: you have their shares have been down as much as
Speaker 3: seven percent week forecast for the current period and really
Speaker 3: tough words from its CEO, Lip Bhutan. He delivered his
Speaker 3: first earnings report from the company. So I wanted to
Speaker 3: point out a couple of things. He said, corporate culture
Speaker 3: needs a shake up, right, He's going to cut jobs,
Speaker 3: remove layers of management, force everyone back to the office.
Speaker 3: Expects operating costs to be reduced about seventeen billion this year,
Speaker 3: sixteen billion in twenty twenty six. And then when it
Speaker 3: comes to Levy's he said that a terra fueled recession
Speaker 3: could torpedo chip demand. So he had a lot to
Speaker 3: say in his first earnings report that came out.
Speaker 2: It basically is just a mess.
Speaker 3: I mean, you know it is, and he's got to
Speaker 3: clean it up. We go to T Mobile, the second
Speaker 3: largest wireless carrier in the US. We've been hearing about
Speaker 3: it right at and TV Rizon. So now T Mobile
Speaker 3: shairs have been lower as much as five percent mobile
Speaker 3: phone subscribers missed about four hundred and ninety five thousand
Speaker 3: subscribers that they added. It's still added more than AT
Speaker 3: and T Verizon reported to decline, but weaker wireless numbers
Speaker 3: really overshadowed kind of positive financial results. I mean, EPs,
Speaker 3: you had top estimates first quarter revenue, two raise its
Speaker 3: full year profit. But it's just this race to compete
Speaker 3: in such a saturated market between these three. You know
Speaker 3: it is people are tightening their budgets right, they're holding
Speaker 3: onto their phones longer. The CEO says, the company is
Speaker 3: not going to absorb the handset price increases. So you
Speaker 3: have all these things going on. They're rolling out promotions, incentives,
Speaker 3: they're just trying to get people to sign up for it.
Speaker 2: So, I mean, I think AT and T did well
Speaker 2: on their subs. Verizon and T Mobile did not do
Speaker 2: well on their subs. And that's just this quarter. Next quarter,
Speaker 2: it could be complete story, different story different. It's a
Speaker 2: zero sum game. Basically, you know, okay, and this.
Speaker 3: Whohoa, whoa, I look at it my cell phone bill.
Speaker 2: It's not a zerous giving. It's like a bordage pin.
Speaker 2: That's how they grow the revenue. It's just raising prices
Speaker 2: and they do and they have and it's a it's
Speaker 2: a triumply I don't know, triopoly. Yeah, maybe it's like
Speaker 2: a bank. It's outrageous.
Speaker 3: Tell me out on live shat am I run, I
Speaker 3: think I'm wrong?
Speaker 1: What else?
Speaker 3: Family plan is killing me? Okay, So we go to sketchers.
Speaker 3: Their shares have an off as much of five percent.
Speaker 3: The reason why Withdrew is full your outlook global trade policies.
Speaker 3: They make a big portion of their shoes from China
Speaker 3: and Vietnam, so force quarter sales below estimates. But have
Speaker 3: been trying to compete. Right, you have Nike and Adidas,
Speaker 3: so they offer the cheaper alternative. Right, they're trying to
Speaker 3: kind of break into that market. It CEO just says
Speaker 3: they're trying to navigate. Talk about economic volatility, we've heard
Speaker 3: that a lot too. The company said they're working to
Speaker 3: lessen the impact of new twists share in the cost
Speaker 3: with vendors optimizing supply chain, adjusting prices. But that too,
Speaker 3: like we've seen with the wireless thing, this is a
Speaker 3: big competitive market in.
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