Speaker 1: News when you want it. With Bloomberg News Now, I'm
Speaker 1: Doug Krisner, and we begin with earnings reported after the bell.
Speaker 1: Alphabet's fourth quarter revenue was above expectations. However, the company
Speaker 1: also said it plans to spend far more than investors
Speaker 1: had anticipated this year. Capex is set to double in
Speaker 1: twenty twenty six. Here is Bloomberg's Caroline Hyde.
Speaker 2: They are dialing this up because they must feel I
Speaker 2: must be taken that they've felt from the market. You've
Speaker 2: got some bandwidth to do this right now, because what
Speaker 2: we've had time and time again think of Microsoft's numbers
Speaker 2: is that their issue isn't one of demand.
Speaker 1: As one of sup Pots, shares an Alphabet were down
Speaker 1: by something greater than one percent in late US trading.
Speaker 1: Qualcomm gave a lackluster forecast for revenue in the current period,
Speaker 1: and the outlook only added to concern over component shortages
Speaker 1: and how that may drive up prices and in turn
Speaker 1: hurt consumer demand. Qualcomm is the largest maker of smartphone processors.
Speaker 1: Here's Jay Goldberg from Seaport Research Partners.
Speaker 3: So I think there's a near term problem and a
Speaker 3: longer term problem. The near term issue is memory. Memory
Speaker 3: prices are expensive. That cuts into everybody's margins. That's going
Speaker 3: to eventually cut into consumer demand. Phones will be more
Speaker 3: expensive because of the memory. It's a well known story.
Speaker 3: So I think that's a near term headwind. Longer term,
Speaker 3: I think Qualcom has some pretty significant challenges and I'm
Speaker 3: not sure they're ready to address them yet.
Speaker 1: That's Jay Goldberg from Seaport Research Partners. Shares and Qualcom
Speaker 1: were down by more than nine percent in late US trading.
Speaker 1: The sales forecast from the British chip designer ARM Holdings
Speaker 1: was disappointing, and right now US listed shares in ARM
Speaker 1: down more than six percent in late US trading. In
Speaker 1: the equity market today, the appetite for risk was diminished
Speaker 1: and the rotation out of tech shares gathered momentum. Software
Speaker 1: firms were caught up in another wave of selling, but
Speaker 1: chip makers saw bigger losses. We had the Philadelphia Semiconductor
Speaker 1: Index down four point three percent today now the Nasdaq
Speaker 1: one hundred drop nearly one point eight percent and breached
Speaker 1: its one hundred day moving air That is a level
Speaker 1: seen by some analysts as a harbinger for more losses.
Speaker 1: Here is Sarah Hunt, Chief Market strategist at Alpine Woods.
Speaker 4: The market was coming into all of this on fairly
Speaker 4: high levels and had a lot of expectations. And even
Speaker 4: if you're meeting some of those, it's not good enough
Speaker 4: in an environment where people are starting to get scared
Speaker 4: again about what is going to get disrupted by AI.
Speaker 1: And you can hear more from Sarah Hunt on the
Speaker 1: Bloomberg Business Week Daily podcast. The US and Iran are
Speaker 1: set to meet in Oman on Friday to discuss a
Speaker 1: nuclear deal. Even so, President Trump sent a warning to
Speaker 1: Iran's leaders as US military forces entered the region. Here
Speaker 1: is Trump speaking exclusively to NBC News.
Speaker 5: I would say he should be very worried. Yeah, he
Speaker 5: should be, as you know, they're negotiating with US.
Speaker 2: I know they are.
Speaker 3: But the protesters have said, you know, where are the Americans.
Speaker 3: You promised them we would have their back. Do we
Speaker 3: still have we back?
Speaker 5: We've had their back, and look, that country's a mess
Speaker 5: right now because of US.
Speaker 6: We went in.
Speaker 5: We wiped out their nuclear So let's wish again, want
Speaker 5: peace in the Middle East. If I didn't take out
Speaker 5: their nuclear think of it, if we didn't take out
Speaker 5: that nuclear we wouldn't have peace in the Middle East
Speaker 5: because the Arab countries could have never done that. They
Speaker 5: were very, very afraid of Ara. They're not afraid of
Speaker 5: Iran anymore.
Speaker 1: President Trump, speaking with NBC's Tom yamas Now earlier today,
Speaker 1: the US said he'd wanted to discuss other issues with Iran. However,
Speaker 1: Iranian leadership wants to limit discussions to its nuclear program.
Speaker 1: The Department of Homeland Security will immediately reduce its enforcement
Speaker 1: presence in Minneapolis by seven hundred agents. White House borders
Speaker 1: are Tom Homan says the government will rely more on
Speaker 1: taking custody inside jails rather than making arrest in the community.
Speaker 6: More officers taking custody of criminal amilage directly from the
Speaker 6: jails means less offers on the street during criminal operations.
Speaker 6: This is smart law enforcement, not less law enforcement. It's
Speaker 6: safer for the community, safer for the officers, and safer
Speaker 6: for the alien.
Speaker 1: About two thousand immigration agents will remain in Minnesota. The
Speaker 1: drawdown follows weeks of uproar after immigration agents shot and
Speaker 1: killed two US citizens. Savannah Guthrie, co host of The
Speaker 1: Today Show, has broken her silence about the disappearance of
Speaker 1: her eighty four year old mother, Nancy as new details emerge.
Speaker 1: Guthrie said in a recorded video posted on social media
Speaker 1: that her family has heard about a ransom letter in
Speaker 1: media reports. Here is Guthrie.
Speaker 7: We live in a world where voices and images are
Speaker 7: easily manipulated. We need to know without a doubt that
Speaker 7: she is alive and that you have her. We want
Speaker 7: to hear from you, and we are ready to listen.
Speaker 7: Please reach out to us.
Speaker 1: That is Savannah Guthrie. Now, authorities did not offer an
Speaker 1: up d as investigators try to piece together the moments
Speaker 1: before and immediately after the disappearance of Nancy Guthrie. The
Speaker 1: chair of the Wall Street firm Paul Weiss, is stepping down.
Speaker 1: Brad Karp resigned after a trove of emails detailed his
Speaker 1: close connections to disgraced financier Jeffrey Epstein. Scott Barchet will
Speaker 1: now lead Paul Weiss, effective immediately. And that is news
Speaker 1: when you want it with Bloomberg News. Now, I'm Doug prisoner,
Speaker 1: and this is Bloomberg