1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:16,720 --> 00:00:19,239 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:19,560 --> 00:00:24,000 Speaker 3: I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Matteo. Lisa, 6 00:00:24,000 --> 00:00:24,840 Speaker 3: what do you have? All right? 7 00:00:24,840 --> 00:00:26,880 Speaker 1: I want to start with Broadcom because I've been trying 8 00:00:26,920 --> 00:00:30,280 Speaker 1: the shares all morning. Take her avgo. Their shares have 9 00:00:30,320 --> 00:00:33,559 Speaker 1: been up as much as fourteen percent now and the 10 00:00:33,640 --> 00:00:37,120 Speaker 1: reason why. Sources are telling Bloomberg that Broadcom helping open 11 00:00:37,200 --> 00:00:40,839 Speaker 1: Ai design and produce an AI accelerator. So the two 12 00:00:40,920 --> 00:00:42,839 Speaker 1: firms they plan to ship the first chips in that 13 00:00:42,880 --> 00:00:45,760 Speaker 1: lineup starting next year. And what that's doing, that's stepping 14 00:00:45,760 --> 00:00:49,199 Speaker 1: into Invidio's territory. Right in videos shares they have been 15 00:00:49,200 --> 00:00:52,800 Speaker 1: down nearly two percent before the Open Financial Science says 16 00:00:52,840 --> 00:00:54,720 Speaker 1: that open Ai is going to initially use a chip 17 00:00:54,760 --> 00:00:58,279 Speaker 1: for its own internal purposes. But this is something that 18 00:00:58,320 --> 00:01:01,720 Speaker 1: it's CEO hinted about yesterday. He said Broadcom had secured 19 00:01:01,760 --> 00:01:05,320 Speaker 1: this new client for its custom accelerator business. And Tan 20 00:01:05,400 --> 00:01:08,800 Speaker 1: said that the company secured more than ten billion dollars 21 00:01:08,800 --> 00:01:11,240 Speaker 1: in orders from that new customer. So source they're saying 22 00:01:11,280 --> 00:01:15,200 Speaker 1: that customer is yes, open AI, but they're they're ke 23 00:01:15,360 --> 00:01:17,760 Speaker 1: to like the development of AI big tech firms like 24 00:01:17,840 --> 00:01:20,319 Speaker 1: Meta and Microsoft. So this is some huge news here. 25 00:01:20,880 --> 00:01:23,920 Speaker 3: This is one point four trillion dollar market cap stock 26 00:01:24,120 --> 00:01:26,320 Speaker 3: to be up to thirteen percent in pre market. It's 27 00:01:26,400 --> 00:01:30,040 Speaker 3: real money. That's real money out there. I I, folks, 28 00:01:30,080 --> 00:01:34,800 Speaker 3: can't I can't synthesize this. Perplexity came out with voice 29 00:01:34,800 --> 00:01:37,399 Speaker 3: on your iPhone, which I do none of. And I 30 00:01:37,440 --> 00:01:40,560 Speaker 3: sat on the couch with vet Bill, and you know, 31 00:01:40,680 --> 00:01:43,000 Speaker 3: vet Bill said I need a new chew bone, and 32 00:01:43,040 --> 00:01:45,759 Speaker 3: so I said, Perplexity, where's the best chew bone? 33 00:01:45,959 --> 00:01:48,520 Speaker 1: Boom? And you got it there. It was I can't 34 00:01:48,520 --> 00:01:51,880 Speaker 1: get to Sirih to understand me. Sirih doesn't understand me. 35 00:01:52,000 --> 00:01:54,559 Speaker 3: We arded a brace of new bones for vet build 36 00:01:54,560 --> 00:01:55,520 Speaker 3: and Kenalfey. Next. 37 00:01:55,640 --> 00:01:59,120 Speaker 1: Thanks, you got Tesla's share They have been up two 38 00:01:59,160 --> 00:02:03,200 Speaker 1: percent before the open takeer Tsla A Tsla news about 39 00:02:03,240 --> 00:02:05,760 Speaker 1: Elon Musk pay package. So the company wants to lock 40 00:02:05,800 --> 00:02:07,760 Speaker 1: and Musk to lead the company for years to come 41 00:02:07,880 --> 00:02:11,400 Speaker 1: right to focus on Tesla. So they proposed this new 42 00:02:11,400 --> 00:02:16,120 Speaker 1: compensation package agreement, potentially worth around one trillion dollars. This 43 00:02:16,200 --> 00:02:18,440 Speaker 1: is like a first in corporate America. He's already the 44 00:02:18,440 --> 00:02:21,760 Speaker 1: world's richest person, okay, but in order to earn it, 45 00:02:22,000 --> 00:02:24,560 Speaker 1: he has to meet a few benchmarks. Okay. That includes 46 00:02:24,680 --> 00:02:28,840 Speaker 1: expanding Tesla's robotaxi business. Also growing the company's market value 47 00:02:28,880 --> 00:02:32,040 Speaker 1: to at least eight and a half trillion dollars. Yeah, 48 00:02:32,160 --> 00:02:34,560 Speaker 1: eight and a half trillion from around one trillion today. 49 00:02:34,720 --> 00:02:37,639 Speaker 1: So you see the difference. It spans about ten years, 50 00:02:37,680 --> 00:02:41,400 Speaker 1: this plan. So, according to this filing, the additional shares 51 00:02:41,480 --> 00:02:44,040 Speaker 1: must could receive would push his stake in the company 52 00:02:44,040 --> 00:02:47,840 Speaker 1: to at least twenty five percent, and that's publicly he 53 00:02:47,880 --> 00:02:51,200 Speaker 1: stated that's the percent that he's looking for. So that 54 00:02:51,360 --> 00:02:52,400 Speaker 1: is the latest with Tesla. 55 00:02:52,560 --> 00:02:55,280 Speaker 3: What's a resale value on a Tesla right now? I 56 00:02:55,320 --> 00:02:58,120 Speaker 3: think it's terrible. Yeah, I think it's like ugly. 57 00:02:58,200 --> 00:03:03,160 Speaker 1: I don't know one more you This is Lulu lemon Oh, yes, 58 00:03:03,760 --> 00:03:08,919 Speaker 1: fired up down nearly twenty percent. No, I'm not. Actually 59 00:03:08,960 --> 00:03:11,400 Speaker 1: it's s ticker lu Lu. There's a lot of competition 60 00:03:11,520 --> 00:03:15,320 Speaker 1: out there there. Leggings are really pricey, but the big 61 00:03:15,360 --> 00:03:17,640 Speaker 1: thing for them was tariffs and that's why they slashed 62 00:03:17,639 --> 00:03:21,480 Speaker 1: their outlook too, aside from the leggings going down. They 63 00:03:21,560 --> 00:03:23,079 Speaker 1: said that it's going to take a two hundred and 64 00:03:23,120 --> 00:03:25,040 Speaker 1: forty million dollars hit from the decision to end that 65 00:03:25,160 --> 00:03:28,200 Speaker 1: demnimous exemption. And they're based in Vancouver, so you see 66 00:03:28,240 --> 00:03:31,240 Speaker 1: the issue there. So they did really well during the pandemic. 67 00:03:31,280 --> 00:03:32,919 Speaker 1: I mean, people bought them up because you lived in 68 00:03:33,040 --> 00:03:35,440 Speaker 1: leggings during the time. But now you have yes more 69 00:03:35,520 --> 00:03:37,600 Speaker 1: competition out there. You go into the mall, all you 70 00:03:37,680 --> 00:03:41,119 Speaker 1: see are yoga stores all over the place. So they're 71 00:03:41,160 --> 00:03:43,200 Speaker 1: trying to win back shoppers. They're trying to get you know, 72 00:03:43,400 --> 00:03:46,880 Speaker 1: athletes involved and get them to you know, be sponsors 73 00:03:46,960 --> 00:03:49,800 Speaker 1: for it. But it just hasn't been doing good. I 74 00:03:49,880 --> 00:03:53,160 Speaker 1: mean a decline this year had already erased twenty two 75 00:03:53,320 --> 00:03:56,080 Speaker 1: billion dollars in market value and the stock has falling 76 00:03:56,160 --> 00:03:58,560 Speaker 1: forty six percent so far this year through Thursday's close, 77 00:03:58,680 --> 00:04:01,920 Speaker 1: so not so great for They're trying, but it's a 78 00:04:01,960 --> 00:04:02,800 Speaker 1: tough battle out there. 79 00:04:04,240 --> 00:04:08,440 Speaker 2: The Stockmovers Report from Bloomberg Radio. Check back with us 80 00:04:08,480 --> 00:04:11,240 Speaker 2: throughout the day for the latest roundup of companies making 81 00:04:11,360 --> 00:04:14,920 Speaker 2: news on Wall Street and for the latest market moving headlines. 82 00:04:15,200 --> 00:04:19,160 Speaker 2: Listen to Bloomberg Radio Live. 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