1 00:00:02,520 --> 00:00:09,959 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 --> 00:00:17,560 Speaker 1: harnessing the power of Bloomberg data. Let's get a sense 4 00:00:17,560 --> 00:00:19,720 Speaker 1: of what's happening in the markets today with stock movers. 5 00:00:19,720 --> 00:00:22,479 Speaker 1: It needs a so Covid Joints, CROs Asset reporter or 6 00:00:22,560 --> 00:00:24,040 Speaker 1: Bloomberg News. They need to what are you looking at. 7 00:00:24,280 --> 00:00:26,440 Speaker 2: Let's take a look at Walmart. Obviously there was that 8 00:00:26,600 --> 00:00:30,080 Speaker 2: tree from the president. Shares tumbled as much as two 9 00:00:30,120 --> 00:00:34,479 Speaker 2: point five percent. Now some of those losses have been erased. 10 00:00:34,560 --> 00:00:37,600 Speaker 2: Let's steal the stock is down today. So President Trump 11 00:00:37,680 --> 00:00:41,280 Speaker 2: telled the retailer that they should eat the tariffs, which 12 00:00:41,320 --> 00:00:44,280 Speaker 2: is an interesting announcement because we had actually scolled bess 13 00:00:44,320 --> 00:00:47,280 Speaker 2: And on the weekend talking to NBC saying that he 14 00:00:47,320 --> 00:00:50,320 Speaker 2: has already spoken to Walmart and they have said that 15 00:00:50,400 --> 00:00:54,920 Speaker 2: indeed they will they will absorb some of those tariffs. 16 00:00:55,480 --> 00:00:59,560 Speaker 2: But of course, some of the statements Walmart gave him 17 00:00:59,560 --> 00:01:03,080 Speaker 2: their earning and on my on May fifteenth is that 18 00:01:03,600 --> 00:01:07,120 Speaker 2: the tirefts are increasing economic turbulence and consumers may start 19 00:01:07,160 --> 00:01:10,400 Speaker 2: to see some of those effects in May. Of course, 20 00:01:10,440 --> 00:01:14,919 Speaker 2: Trump is saying that the company has made billions last 21 00:01:15,000 --> 00:01:18,959 Speaker 2: year and there the reason to raise prices is not tied. 22 00:01:19,080 --> 00:01:20,959 Speaker 2: So there is a lot of pressure for yet to 23 00:01:21,000 --> 00:01:22,840 Speaker 2: see how is this going to play out. There hasn't 24 00:01:22,880 --> 00:01:27,040 Speaker 2: been a big pushback from Walmart, so but yeah, small 25 00:01:27,080 --> 00:01:29,880 Speaker 2: pressure today on the stock for sure. Also taking a 26 00:01:29,920 --> 00:01:33,640 Speaker 2: look at Netflix here the analyst community weighing in on 27 00:01:33,680 --> 00:01:36,400 Speaker 2: this one. Yeah, and it's it's a record high after 28 00:01:36,480 --> 00:01:38,960 Speaker 2: record hig record high, and that's why that's that's why 29 00:01:38,959 --> 00:01:43,479 Speaker 2: they're weighing on. JP Morgan downgraded it too neutral from overweight. 30 00:01:43,720 --> 00:01:46,679 Speaker 2: There are no big alarms, there are no big reasons Saturday. 31 00:01:46,720 --> 00:01:49,680 Speaker 2: It's expensive. There has been record high. The stock is 32 00:01:49,720 --> 00:01:53,640 Speaker 2: a thirty percent year today after another amazing year last year. 33 00:01:54,520 --> 00:01:57,000 Speaker 2: So the reason is just like a more balanced risk 34 00:01:57,080 --> 00:02:01,520 Speaker 2: reward in that that streaming space. Interesting thing is that 35 00:02:01,600 --> 00:02:05,640 Speaker 2: they say that Netflix was a defensive place during all 36 00:02:05,680 --> 00:02:08,840 Speaker 2: the Tift tourmoil, and now that some of this has eased, 37 00:02:08,880 --> 00:02:12,960 Speaker 2: maybe investors won't be as interested. JP Morgan says that 38 00:02:13,080 --> 00:02:17,200 Speaker 2: following a significant stock price appreciation and outperformance, it's lowering 39 00:02:19,000 --> 00:02:21,200 Speaker 2: the way they have on Netflix. But still obviously there 40 00:02:21,200 --> 00:02:23,320 Speaker 2: are so many by ratings on the stock and it's 41 00:02:23,320 --> 00:02:26,359 Speaker 2: a clear winner this year. Anything else out there, we're 42 00:02:26,400 --> 00:02:29,280 Speaker 2: only as read it. That's an interesting one because I 43 00:02:29,320 --> 00:02:31,079 Speaker 2: actually use it a lot for my reporting, and I've 44 00:02:31,120 --> 00:02:34,120 Speaker 2: been seeing it less and less when I Google stuff, 45 00:02:34,160 --> 00:02:37,040 Speaker 2: and that's one of the reasons we're seeing a big 46 00:02:37,120 --> 00:02:42,160 Speaker 2: hit today. Wells Fargo downgraded to equal weights and it's 47 00:02:42,200 --> 00:02:46,400 Speaker 2: coming off all those changes Google is implementing in their algorithm. 48 00:02:46,800 --> 00:02:50,200 Speaker 2: Unless they're saying that recent user disruptions are likely to 49 00:02:50,240 --> 00:02:54,240 Speaker 2: be more permanent, Google is implementing all those AI features 50 00:02:54,240 --> 00:02:58,840 Speaker 2: in search which are really changing how some websites, including Reddit, 51 00:02:59,080 --> 00:03:03,600 Speaker 2: are at. The threats are not only to Reddit but 52 00:03:03,760 --> 00:03:07,120 Speaker 2: to all the companies dependent upon search traffic. Read It 53 00:03:07,400 --> 00:03:11,120 Speaker 2: is down thirty four percent here today, so clearly that's 54 00:03:11,160 --> 00:03:13,800 Speaker 2: an interesting one to watch that's very dependent on Google 55 00:03:13,880 --> 00:03:14,280 Speaker 2: right now. 56 00:03:15,760 --> 00:03:19,800 Speaker 1: The stock movers report from Bloomberg Radio. Check back with 57 00:03:19,880 --> 00:03:22,440 Speaker 1: us throughout the day for the latest roundup of companies 58 00:03:22,520 --> 00:03:25,640 Speaker 1: making news on Wall Street and for the latest market 59 00:03:25,639 --> 00:03:30,120 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 60 00:03:30,200 --> 00:03:33,720 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 61 00:03:33,800 --> 00:03:35,280 Speaker 1: the Bloomberg Business app.