1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,800 --> 00:00:18,560 Speaker 2: Let's take a look some at stocks on the move today. 5 00:00:18,560 --> 00:00:21,080 Speaker 2: I'm Paul Sweeney with Normal Linda were joined by Bloomberg 6 00:00:21,160 --> 00:00:22,480 Speaker 2: that needs us to covid they need to What are 7 00:00:22,480 --> 00:00:22,880 Speaker 2: you looking at? 8 00:00:23,239 --> 00:00:25,720 Speaker 3: Let's start with Meta. Obviously it's been the big story 9 00:00:25,760 --> 00:00:28,479 Speaker 3: of this macro heavy weeks has been two big stocks. 10 00:00:28,760 --> 00:00:31,480 Speaker 3: Meta is up about eleven percent, more than eleven percent, 11 00:00:31,560 --> 00:00:35,280 Speaker 3: obviously Christian expectations with the letters results. Everyone is looking 12 00:00:35,320 --> 00:00:38,320 Speaker 3: at AI spending. It's been a story of months for months, 13 00:00:38,320 --> 00:00:40,960 Speaker 3: how they've been increasing it. But we're actually seeing some 14 00:00:41,120 --> 00:00:44,720 Speaker 3: profitability there, which I think is obviously very important. Operating 15 00:00:44,800 --> 00:00:48,159 Speaker 3: margins rolls forty three percent in a second quarter, up 16 00:00:48,200 --> 00:00:50,880 Speaker 3: from forty one percent in the first quarter and thirty 17 00:00:50,960 --> 00:00:54,400 Speaker 3: eight percent a year earlier. So clearly there is a 18 00:00:54,440 --> 00:00:57,520 Speaker 3: trend there and investors are very happy with it so far. 19 00:00:57,800 --> 00:01:01,040 Speaker 3: And it's not only investors. We saw so many upgrades 20 00:01:01,040 --> 00:01:04,440 Speaker 3: today and the price tags we're seeing. We're talking about 21 00:01:04,440 --> 00:01:08,320 Speaker 3: two hundred three hundred dollars increases. Looking at HSBC, they 22 00:01:08,400 --> 00:01:11,640 Speaker 3: upgraded it from hold to buy. New press tax is 23 00:01:11,760 --> 00:01:14,440 Speaker 3: nine hundred. We have JP Morgan, We have really so 24 00:01:14,520 --> 00:01:18,520 Speaker 3: many upgrades, and what we're seeing is that Meta and 25 00:01:18,560 --> 00:01:22,800 Speaker 3: its peers are relying on their legacy businesses to really 26 00:01:22,920 --> 00:01:28,280 Speaker 3: fund this PRICEAI talent data centers. But so far both 27 00:01:28,319 --> 00:01:33,240 Speaker 3: with Microsoft four trillion, Meta record high we've seen at work, 28 00:01:33,360 --> 00:01:37,040 Speaker 3: and it's really kind of escaping all other big stories 29 00:01:37,080 --> 00:01:38,760 Speaker 3: in the market. Is just magnificent seven. 30 00:01:39,280 --> 00:01:41,400 Speaker 4: No, the market is definitely magnificent seven as we're really 31 00:01:41,400 --> 00:01:43,560 Speaker 4: digesting a lot of these tech results. And we still 32 00:01:43,600 --> 00:01:45,720 Speaker 4: have Apple on Amazon that comp after the closing bell. 33 00:01:46,360 --> 00:01:49,000 Speaker 4: But enough the belt tech for now. What are you 34 00:01:49,040 --> 00:01:50,000 Speaker 4: looking at with eBay? 35 00:01:50,320 --> 00:01:52,520 Speaker 3: Yeah, let's move at consumers. We've been talking about big 36 00:01:52,560 --> 00:01:55,480 Speaker 3: tay whole days. Let's look at eBay, which is also 37 00:01:55,520 --> 00:01:58,440 Speaker 3: having an insanely good day, obviously on a small scale. 38 00:01:59,120 --> 00:02:02,960 Speaker 3: Shares j eighteen percent. The company projected sales that top 39 00:02:03,040 --> 00:02:07,000 Speaker 3: analysts estimates. The Tickeries e b a Y second quarter 40 00:02:07,040 --> 00:02:11,440 Speaker 3: profit exclosing some items was one door thirty seven a share, 41 00:02:11,639 --> 00:02:14,480 Speaker 3: which is seven cents higher than what the street expected. 42 00:02:14,760 --> 00:02:18,400 Speaker 3: This is just optimism for continued consumer resilience. Although I 43 00:02:18,400 --> 00:02:20,799 Speaker 3: looked at the reporter and I think it's interesting that 44 00:02:20,960 --> 00:02:24,359 Speaker 3: the sale of used and refurbished goods grow faster than 45 00:02:24,360 --> 00:02:28,680 Speaker 3: other categories. So that's definitely showing to sensitive consumer and 46 00:02:28,720 --> 00:02:32,560 Speaker 3: also purchasing powers from the US consumers grew, but then 47 00:02:32,600 --> 00:02:36,480 Speaker 3: it's helping offset software demount from European markets. Nevertheless, the 48 00:02:36,520 --> 00:02:39,280 Speaker 3: stock is up more than forty percent this year, so 49 00:02:39,520 --> 00:02:41,880 Speaker 3: some good news for consumers with some quotion. 50 00:02:42,040 --> 00:02:44,120 Speaker 4: There are you also using Eva? I feel like I'm 51 00:02:44,120 --> 00:02:45,399 Speaker 4: more of an Etsy person. 52 00:02:45,120 --> 00:02:47,360 Speaker 2: Now Amazon Little Amazon. 53 00:02:47,400 --> 00:02:49,799 Speaker 4: It's interesting, but it's interesting. So Suckers having its best 54 00:02:49,840 --> 00:02:51,239 Speaker 4: days since two thousand and eight. 55 00:02:51,440 --> 00:02:51,919 Speaker 3: Incredible. 56 00:02:51,960 --> 00:02:53,000 Speaker 4: That's for session territory. 57 00:02:53,200 --> 00:02:54,959 Speaker 2: You want to see You want to see a chart 58 00:02:55,280 --> 00:02:58,560 Speaker 2: Carvana cvnas a tacker that bad boy up there, GP 59 00:02:59,200 --> 00:03:01,960 Speaker 2: in creditle and go max for the time frame. This 60 00:03:02,000 --> 00:03:04,839 Speaker 2: scene hit a high pack in late twenty twenty one 61 00:03:04,880 --> 00:03:06,720 Speaker 2: of about three hundred and seventy bucks. Then I went 62 00:03:06,760 --> 00:03:10,520 Speaker 2: down to literally zero right at the end of twenty 63 00:03:10,560 --> 00:03:13,079 Speaker 2: twenty two. Here we are setting all time highs again 64 00:03:13,080 --> 00:03:15,480 Speaker 2: at three hundred ninety five dollars, and I know a 65 00:03:15,480 --> 00:03:18,240 Speaker 2: guy on the board there. This seems been a crazy ride. 66 00:03:18,280 --> 00:03:19,280 Speaker 2: What's going on in Carvana? 67 00:03:19,440 --> 00:03:22,440 Speaker 3: The company is a one hundred percent here today today, 68 00:03:22,440 --> 00:03:26,040 Speaker 3: obviously a massive junk, more than twenty percent. It comes 69 00:03:26,160 --> 00:03:29,560 Speaker 3: after the company boosted sales and profit well above what 70 00:03:29,600 --> 00:03:32,680 Speaker 3: Wall Street were expecting. The company also posted a six 71 00:03:32,800 --> 00:03:37,200 Speaker 3: fold increase in net income, record quarterly sales abuse vehicles, 72 00:03:37,200 --> 00:03:40,440 Speaker 3: which again is pointing to relatively coastious consumer that said, 73 00:03:40,680 --> 00:03:43,880 Speaker 3: we're talking about one hundred forty three thousand vehicles to 74 00:03:43,920 --> 00:03:48,440 Speaker 3: retail buyers records and forty one percent increase, so reading 75 00:03:48,520 --> 00:03:53,400 Speaker 3: credible and Karvana said loan sales accounted for two hundred 76 00:03:53,920 --> 00:03:56,720 Speaker 3: seventy eight million of the profit, so that's obviously making 77 00:03:56,760 --> 00:03:58,880 Speaker 3: a big part of their business. 78 00:03:59,240 --> 00:04:03,280 Speaker 1: The stock move report from Bloomberg Radio. 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