WEBVTT - Closing Bell: Ambiq Rises, EchoStar Slides, Under Armour Falls

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:10.080 --> 0:00:13.520
<v Speaker 2>This is the closing bell on the stock mover's report

0:00:13.760 --> 0:00:16.720
<v Speaker 2>the company's making moves at the close of US trading

0:00:16.880 --> 0:00:21.439
<v Speaker 2>with Carol Masser, Tim Stenoveck, Romaine Bostik, and Katie Greifeld.

0:00:22.440 --> 0:00:24.040
<v Speaker 3>Back to the large caps, I go s and p

0:00:24.160 --> 0:00:27.080
<v Speaker 3>five hundred guys, almost an even split. Katie got two

0:00:27.200 --> 0:00:29.960
<v Speaker 3>hundred and fifty nine names gaining ground on this Tuesday,

0:00:29.960 --> 0:00:32.440
<v Speaker 3>two hundred and forty three to the downside, one unchanged.

0:00:32.600 --> 0:00:35.479
<v Speaker 4>Well, let's take a look at the sector breakdown as well,

0:00:35.520 --> 0:00:38.879
<v Speaker 4>and interesting makeup there. You can see that when it

0:00:38.920 --> 0:00:42.239
<v Speaker 4>comes to losers, tech is your big red slice there,

0:00:42.280 --> 0:00:45.839
<v Speaker 4>down about one percent as a sector. Consumer discretionary as well.

0:00:45.960 --> 0:00:49.680
<v Speaker 4>Industrials Materials also fall, falling. When it comes to what

0:00:49.840 --> 0:00:52.040
<v Speaker 4>was really trying to push this market into the green

0:00:52.240 --> 0:00:56.560
<v Speaker 4>coming into the closed, healthcare hire by one point nine percent.

0:00:56.920 --> 0:00:57.560
<v Speaker 5>As a sector.

0:00:57.560 --> 0:01:01.400
<v Speaker 4>You also saw consumer staples and financial rallying as well.

0:01:01.520 --> 0:01:04.120
<v Speaker 5>Thank you healthcare. Right, yeah, this comes to our aid.

0:01:04.480 --> 0:01:08.279
<v Speaker 3>Let's go to some of the individual gainers in today's session.

0:01:08.560 --> 0:01:10.399
<v Speaker 3>I felt like, for the most part, there were names

0:01:10.400 --> 0:01:12.600
<v Speaker 3>that I'm never talking about, but let's just go there

0:01:13.440 --> 0:01:16.240
<v Speaker 3>Zebra Technologies number one gainer in the S and P

0:01:16.319 --> 0:01:19.000
<v Speaker 3>five hundred up about eleven and a half percent. You know,

0:01:19.080 --> 0:01:23.600
<v Speaker 3>barcode scanners, printers, interactive Kiosks eleven point eight.

0:01:23.520 --> 0:01:24.560
<v Speaker 5>Billion dollar market cap.

0:01:24.560 --> 0:01:27.200
<v Speaker 3>If you're not familiar, it's a consumer electronics company, as

0:01:27.200 --> 0:01:31.080
<v Speaker 3>I mentioned, reported first quarter results that beat expectations, and

0:01:31.120 --> 0:01:34.360
<v Speaker 3>it raises full year forecast for both adjusted earnings and

0:01:34.880 --> 0:01:37.280
<v Speaker 3>free cash flow. Just to quick check on what the

0:01:37.280 --> 0:01:40.759
<v Speaker 3>stock's doing year to date, it's just down fractionally, so

0:01:41.080 --> 0:01:42.880
<v Speaker 3>not a big mover at least for the year overall.

0:01:43.080 --> 0:01:46.560
<v Speaker 3>Here's another one, hopefully I'm saying it correctly. Ambic Micro

0:01:46.800 --> 0:01:52.680
<v Speaker 3>take our AAAMBQ. This one up forty five percent, pretty

0:01:52.760 --> 0:01:56.400
<v Speaker 3>much finishing at its highs of the session, closing out

0:01:56.400 --> 0:02:00.480
<v Speaker 3>a record. It's an ultra low power semiconductor solutions provider.

0:02:00.800 --> 0:02:03.200
<v Speaker 3>It reported better than expected results for the first quarter.

0:02:03.200 --> 0:02:06.520
<v Speaker 3>It provided second quarter guidance that also topped expectations, so

0:02:07.080 --> 0:02:09.080
<v Speaker 3>investors are pretty keen on this. It's about a one

0:02:09.120 --> 0:02:11.880
<v Speaker 3>point four billion dollar market cap company. It is up, folks,

0:02:12.080 --> 0:02:14.600
<v Speaker 3>one hundred and thirty percent year to date. And then

0:02:14.919 --> 0:02:17.760
<v Speaker 3>here are two names that you are many people are

0:02:17.760 --> 0:02:21.600
<v Speaker 3>familiar with, and we're talking about Philip Morris and Altria,

0:02:22.200 --> 0:02:25.600
<v Speaker 3>these names both gaining in today's session too, and two

0:02:25.639 --> 0:02:28.079
<v Speaker 3>point six percent higher for Philip Morris about one point

0:02:28.160 --> 0:02:29.760
<v Speaker 3>nine percent for Altria.

0:02:30.040 --> 0:02:31.360
<v Speaker 5>Shares are up for second days.

0:02:31.400 --> 0:02:34.280
<v Speaker 3>And let's weigh in on a Friday afternoon update from

0:02:34.280 --> 0:02:37.840
<v Speaker 3>the FDA in which the agency provided enforcement policies with

0:02:37.880 --> 0:02:41.160
<v Speaker 3>regard to the marketing of certain electronic nicotine delivery system

0:02:41.160 --> 0:02:44.280
<v Speaker 3>products and nicotine pouch products that do not have pre

0:02:44.360 --> 0:02:45.680
<v Speaker 3>market authorization.

0:02:45.840 --> 0:02:49.200
<v Speaker 5>So some enthusiasm for that one over to you.

0:02:49.440 --> 0:02:51.680
<v Speaker 6>Okay, Well, let's talk to some talk about some stocks

0:02:51.680 --> 0:02:53.720
<v Speaker 6>in the red. I want to talk about the socks

0:02:54.280 --> 0:02:56.560
<v Speaker 6>fell today by three percent, was down more than six

0:02:56.600 --> 0:02:59.600
<v Speaker 6>percent earlier in the session. So many companies in the

0:02:59.600 --> 0:03:01.840
<v Speaker 6>socks were lower, and so many chip companies were lower,

0:03:01.880 --> 0:03:04.280
<v Speaker 6>and just in the AI space and AI adjacent space

0:03:04.320 --> 0:03:06.320
<v Speaker 6>that I just had to go with the entire index here.

0:03:06.639 --> 0:03:10.840
<v Speaker 6>Power equipment companies fell, memory chip companies felt. Semiconductor companies fell.

0:03:11.240 --> 0:03:13.760
<v Speaker 6>Little cooling of the AI rally that we've seen, many

0:03:13.800 --> 0:03:16.360
<v Speaker 6>chip stocks have been scaling the new all time highs

0:03:16.400 --> 0:03:18.960
<v Speaker 6>in recent days. The sector has been boosted by investor

0:03:19.160 --> 0:03:23.280
<v Speaker 6>enthusiasm over AI and infrastructure buildouts. Big names that fell

0:03:23.320 --> 0:03:30.160
<v Speaker 6>today Qualcomm down, Micron down, Intel down, AMD fell as well.

0:03:30.440 --> 0:03:31.639
<v Speaker 5>In addition to many others.

0:03:32.040 --> 0:03:34.480
<v Speaker 6>I want to go over to Brown Foreman, the parent

0:03:34.520 --> 0:03:38.440
<v Speaker 6>company of Jack Daniels. The Wall Street Journal reporting just

0:03:38.520 --> 0:03:42.000
<v Speaker 6>in the last half hour of trading that Brown Foreman

0:03:42.040 --> 0:03:47.080
<v Speaker 6>has rejected a fifteen billion dollar takeover offer from Sazarak Sazaraq,

0:03:47.120 --> 0:03:51.520
<v Speaker 6>the company behind Sazarak, And also buzzballs.

0:03:52.600 --> 0:03:53.960
<v Speaker 5>What are you talking.

0:03:53.680 --> 0:03:56.800
<v Speaker 6>About, Roman, I know you're a fan of buzzballs.

0:03:57.080 --> 0:03:58.760
<v Speaker 1>I used to be a fan of Sazarak before they

0:03:58.840 --> 0:03:59.600
<v Speaker 1>changed everything.

0:04:00.040 --> 0:04:02.440
<v Speaker 5>Oh, Katie, you know I know what buzzballs are. Don't worry.

0:04:02.480 --> 0:04:05.440
<v Speaker 6>Oh yeah, time, all right, good. I'm told these are

0:04:05.440 --> 0:04:09.800
<v Speaker 6>popular with like gen Z, the youth. Yeah, the youth.

0:04:10.920 --> 0:04:11.520
<v Speaker 6>Don't picture of them?

0:04:11.640 --> 0:04:12.040
<v Speaker 5>What are these?

0:04:12.040 --> 0:04:13.400
<v Speaker 1>These like nutcrackers? What are these?

0:04:14.040 --> 0:04:14.240
<v Speaker 2>Yeah?

0:04:14.280 --> 0:04:15.040
<v Speaker 5>They kind of are.

0:04:15.120 --> 0:04:19.080
<v Speaker 6>Yeah, that's like, now you're speaking my language, Roman, because

0:04:19.080 --> 0:04:21.839
<v Speaker 6>that's my era. But yeah, they're kind of like flavored

0:04:23.279 --> 0:04:27.479
<v Speaker 6>circular don't like you know, spherical alcohol filled containers that

0:04:27.520 --> 0:04:29.599
<v Speaker 6>are popular at parties. They say like take the party

0:04:29.600 --> 0:04:32.480
<v Speaker 6>to go with these. So anyway, Brown Foreman shares down

0:04:32.480 --> 0:04:35.560
<v Speaker 6>about one percent. Carol's googling buzzballs right now?

0:04:35.680 --> 0:04:37.800
<v Speaker 5>How many shots is the buzzball equal to?

0:04:38.040 --> 0:04:40.000
<v Speaker 6>Finally, I'll let you look that up while I look

0:04:40.000 --> 0:04:42.800
<v Speaker 6>at shares of under Armour, which we're under pressure today,

0:04:42.960 --> 0:04:45.680
<v Speaker 6>shares falling today by seventeen percent. They were down all

0:04:45.760 --> 0:04:49.200
<v Speaker 6>day today. The company sank after guidance for this year

0:04:49.200 --> 0:04:52.560
<v Speaker 6>miss Wall Street projections. It was weighed down by that

0:04:52.640 --> 0:04:58.000
<v Speaker 6>partnership with Steph Curry winding up taking a financial hit

0:04:58.000 --> 0:05:01.320
<v Speaker 6>too over the conflict Romain in the Middle East in

0:05:01.320 --> 0:05:04.760
<v Speaker 6>the midst of a turnaround. But as investors showed today,

0:05:04.760 --> 0:05:07.320
<v Speaker 6>there's still a ways to go. Shows doown seventeen percent.

0:05:07.560 --> 0:05:08.000
<v Speaker 5>Let's take a.

0:05:08.040 --> 0:05:09.960
<v Speaker 1>Quick look at yields, because for a second straight day

0:05:10.000 --> 0:05:12.520
<v Speaker 1>we did see them higher pretty much across the curve,

0:05:12.600 --> 0:05:15.039
<v Speaker 1>a lot of activity in the middle, with the benchmark

0:05:15.120 --> 0:05:18.320
<v Speaker 1>ten year yield now camped out right around four point

0:05:18.640 --> 0:05:21.560
<v Speaker 1>four six percent. That's the highest that we've seen since

0:05:21.600 --> 0:05:24.880
<v Speaker 1>at least fall of last year. Here and your thirty

0:05:24.960 --> 0:05:28.280
<v Speaker 1>year yield now firmly above that five percent mark.

0:05:29.200 --> 0:05:30.920
<v Speaker 5>Can two buzzballs get you drunk?

0:05:31.200 --> 0:05:34.600
<v Speaker 3>Yeah, definitely, you get most people drunk, especially if you do.

0:05:34.560 --> 0:05:37.120
<v Speaker 5>It back to back you know they're kind charming.

0:05:37.360 --> 0:05:39.640
<v Speaker 4>Yeah, all right, you they're dangerous.

0:05:39.320 --> 0:05:44.280
<v Speaker 5>All right, well, claiming her next Friday red wine only.

0:05:44.560 --> 0:05:47.760
<v Speaker 3>Hey, interesting story that might bum out some students over

0:05:47.760 --> 0:05:51.040
<v Speaker 3>at Harvard. Apparently the faculty at Harvard University are voting

0:05:51.080 --> 0:05:54.960
<v Speaker 3>on a proposal to limit A grades in undergrad courses

0:05:55.000 --> 0:05:56.919
<v Speaker 3>to no more than twenty percent of the class plus

0:05:56.960 --> 0:06:00.600
<v Speaker 3>four additional students. It's aiming to address is known as

0:06:00.680 --> 0:06:01.440
<v Speaker 3>great inflation.

0:06:01.760 --> 0:06:05.200
<v Speaker 6>Yeah, critics say great inflation makes it tougher for employers

0:06:05.240 --> 0:06:08.719
<v Speaker 6>and grad schools to evaluate students. About sixty percent of

0:06:08.760 --> 0:06:12.600
<v Speaker 6>grades are A in the academic year ending in mid

0:06:12.640 --> 0:06:15.520
<v Speaker 6>twenty twenty five. Okay, so they go to Harvard. So

0:06:15.520 --> 0:06:17.359
<v Speaker 6>shouldn't everybody get a's anyway? Or should it be they

0:06:17.360 --> 0:06:18.400
<v Speaker 6>should be greater on a curve?

0:06:18.800 --> 0:06:20.599
<v Speaker 1>Yeah, well that's what they're going to do, right, So

0:06:21.080 --> 0:06:22.880
<v Speaker 1>and you bring it down and what maybe just for

0:06:22.920 --> 0:06:26.240
<v Speaker 1>the top? Okay, I mean, does anyone what happens.

0:06:25.960 --> 0:06:28.160
<v Speaker 3>If everybody just gets an A and does really well,

0:06:28.200 --> 0:06:29.040
<v Speaker 3>it's a great teacher.

0:06:29.080 --> 0:06:30.919
<v Speaker 5>Everybody's studying verty smart.

0:06:31.120 --> 0:06:37.160
<v Speaker 1>You need to I think someone.

0:06:36.320 --> 0:06:40.039
<v Speaker 5>I understand how curves work. I'm just geometry. I'm with you,

0:06:40.120 --> 0:06:41.159
<v Speaker 5>kind of like what it's worth.

0:06:41.200 --> 0:06:42.560
<v Speaker 4>It's hard enough to get into Harvard.

0:06:42.640 --> 0:06:44.920
<v Speaker 5>Just give them good grades? Why not not the brag?

0:06:44.960 --> 0:06:50.000
<v Speaker 5>But you know, I think, but I will please go ahead.

0:06:51.760 --> 0:06:54.160
<v Speaker 4>What do you guys got, Well, let's talk a little

0:06:54.160 --> 0:06:57.040
<v Speaker 4>bit about New York City because this certainly was well

0:06:57.040 --> 0:07:00.000
<v Speaker 4>read on the Bloomberg terminal, and that is New York City,

0:07:00.320 --> 0:07:03.279
<v Speaker 4>Zora on mom. Donnie has dropped his plan to raise

0:07:03.360 --> 0:07:06.960
<v Speaker 4>property taxes to help close that two year deficit.

0:07:07.640 --> 0:07:08.800
<v Speaker 5>But when it comes to.

0:07:08.760 --> 0:07:11.680
<v Speaker 4>That pianta terror tax, that's that's still in play. But

0:07:11.760 --> 0:07:14.240
<v Speaker 4>still you know, obviously this received a lot of pushback.

0:07:14.280 --> 0:07:16.920
<v Speaker 4>There was a lot of skepticism about getting this across

0:07:16.960 --> 0:07:19.720
<v Speaker 4>the line, but you know, it was also a negotiating

0:07:19.720 --> 0:07:21.080
<v Speaker 4>tactic too on his part.

0:07:21.840 --> 0:07:24.520
<v Speaker 1>All Right, so part of the property tax hike has gone,

0:07:24.800 --> 0:07:27.680
<v Speaker 1>some of the others still there. How's Best Freeman doing?

0:07:27.720 --> 0:07:29.720
<v Speaker 1>Because she was on our program yesterday, she was she

0:07:29.760 --> 0:07:33.239
<v Speaker 1>made a very passionate plea against that peda tear tax

0:07:33.480 --> 0:07:37.200
<v Speaker 1>in terms of the potential impact on the economy here

0:07:37.320 --> 0:07:37.960
<v Speaker 1>in New York.

0:07:37.840 --> 0:07:39.760
<v Speaker 6>City, but also the point that she made about it

0:07:39.840 --> 0:07:43.520
<v Speaker 6>being challenging to actually implement because of assessments.

0:07:43.840 --> 0:07:45.680
<v Speaker 1>Yeah, they said have you actually tried to follow the

0:07:46.040 --> 0:07:47.920
<v Speaker 1>condo I mean, forget the co op assessments of the

0:07:47.920 --> 0:07:49.160
<v Speaker 1>condo assessments in the city.

0:07:49.560 --> 0:07:50.640
<v Speaker 6>None of them make any sense.

0:07:50.720 --> 0:07:52.560
<v Speaker 5>Yeah, it's like if you look at the I feel like.

0:07:54.800 --> 0:07:58.840
<v Speaker 6>One has too many buzzballs or something, it always goes

0:07:58.880 --> 0:07:59.560
<v Speaker 6>back to buzzball.

0:08:00.160 --> 0:08:01.640
<v Speaker 5>Well, we're going to table this for the moment since

0:08:01.680 --> 0:08:03.400
<v Speaker 5>we're not gonna be figuring it out. Yep, have to

0:08:03.440 --> 0:08:04.840
<v Speaker 5>get some buzzballs, all right, guys.

0:08:04.840 --> 0:08:09.480
<v Speaker 2>That is a wrap up the Stockmovers Report from Bloomberg Radio.

0:08:09.960 --> 0:08:12.120
<v Speaker 2>Check back with us throughout the day for the latest

0:08:12.200 --> 0:08:15.360
<v Speaker 2>roundup of companies making news on Wall Street and for

0:08:15.480 --> 0:08:19.400
<v Speaker 2>the latest market moving headlines. Listen to Bloomberg Radio Live,

0:08:19.800 --> 0:08:23.400
<v Speaker 2>catch us on YouTube, Bloomberg dot com, and on Applecarplay

0:08:23.440 --> 0:08:26.040
<v Speaker 2>and Android Auto with the Bloomberg Business app.