WEBVTT - HP Sinks on Profit Outlook, AI Race Heats Up for Nvidia

0:00:02.520 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:08.560 --> 0:00:12.480
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.800
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:17.000 --> 0:00:19.599
<v Speaker 3>I'm Tim Statoveec along with Carol Masser. Let's take a

0:00:19.600 --> 0:00:21.479
<v Speaker 3>look at some stocks on the move today. We're joined

0:00:21.480 --> 0:00:25.239
<v Speaker 3>by Bloomberger News. Cross ass that reporter Emily Grafao with

0:00:25.280 --> 0:00:26.960
<v Speaker 3>some stock movers.

0:00:27.320 --> 0:00:29.800
<v Speaker 1>That it was a nice sound effect to family. We

0:00:29.920 --> 0:00:31.720
<v Speaker 1>really like, you know, we adore.

0:00:32.800 --> 0:00:35.960
<v Speaker 4>Okay, so well, can I start with an index? Did

0:00:35.960 --> 0:00:37.720
<v Speaker 4>you guys already talk about the Russell two thousand?

0:00:37.800 --> 0:00:40.080
<v Speaker 1>Wait, knuckleheads, you can do whatever you want. It was

0:00:40.120 --> 0:00:44.600
<v Speaker 1>up today. That's not mos RT. What my goodness? Yeah,

0:00:45.000 --> 0:00:46.479
<v Speaker 1>Tim talked a battle lah Okay.

0:00:46.280 --> 0:00:48.240
<v Speaker 4>Okay, Yeah, just have to point that out because you know,

0:00:48.240 --> 0:00:49.959
<v Speaker 4>if we're talking about big market moves, that was one

0:00:49.960 --> 0:00:53.840
<v Speaker 4>that stood out. There were also some individual movers that

0:00:53.880 --> 0:00:57.920
<v Speaker 4>stood out. I'm thinking specifically with Nvidia ticker NVDA. It

0:00:58.000 --> 0:01:01.480
<v Speaker 4>hit the lowest level since September twenty fifth, so it

0:01:01.520 --> 0:01:03.640
<v Speaker 4>has run up quite a bit this year, as we

0:01:03.720 --> 0:01:07.800
<v Speaker 4>all know. But this idea is now creeping into the

0:01:07.800 --> 0:01:09.520
<v Speaker 4>market that maybe they're not going to be the leader

0:01:09.760 --> 0:01:11.280
<v Speaker 4>in AI chips.

0:01:11.400 --> 0:01:12.840
<v Speaker 1>The headline today on the.

0:01:12.840 --> 0:01:16.760
<v Speaker 4>Bloomberg terminal was all about the AI chip rivalry between

0:01:16.800 --> 0:01:19.720
<v Speaker 4>in Nvidia and Google. So we saw Google stock up,

0:01:19.800 --> 0:01:22.440
<v Speaker 4>finishing the day up about two percent. And this is

0:01:22.480 --> 0:01:25.279
<v Speaker 4>all coming after there was a report earlier that Meta

0:01:25.400 --> 0:01:29.160
<v Speaker 4>was in talks to spend billions on Google's AI chips.

0:01:29.160 --> 0:01:33.000
<v Speaker 1>So the wars are intensifying. Another day, another AI narrative. Yes,

0:01:33.520 --> 0:01:36.399
<v Speaker 1>chip wars heating up, but I mean, Alphabet's been on

0:01:36.440 --> 0:01:37.040
<v Speaker 1>a tear.

0:01:37.160 --> 0:01:40.400
<v Speaker 4>Yes it has. It's outpacing in VideA for in terms

0:01:40.440 --> 0:01:42.880
<v Speaker 4>of year to date gains, which you wouldn't expect because

0:01:42.920 --> 0:01:44.720
<v Speaker 4>AI has been the big trade this year and in

0:01:44.840 --> 0:01:46.039
<v Speaker 4>videos the poster child.

0:01:46.440 --> 0:01:48.600
<v Speaker 1>But obviously they had a very good twenty twenty four

0:01:48.760 --> 0:01:49.240
<v Speaker 1>as well.

0:01:49.920 --> 0:01:52.520
<v Speaker 4>And then we also saw shares of Meta higher, also

0:01:52.640 --> 0:01:54.440
<v Speaker 4>kind of related to that news of the bay.

0:01:54.800 --> 0:01:57.320
<v Speaker 3>So here's something market cap wise in videos at four

0:01:57.400 --> 0:02:00.520
<v Speaker 3>point three trillion dollars, Alphabet getting up to close to

0:02:00.560 --> 0:02:03.919
<v Speaker 3>four trillion, three point nine trillion dollars, and this year.

0:02:03.800 --> 0:02:04.480
<v Speaker 2>I was seventy.

0:02:05.560 --> 0:02:09.040
<v Speaker 1>It just blows my mind. These trillion, you know dollar.

0:02:08.880 --> 0:02:10.280
<v Speaker 3>Market four trillion.

0:02:10.680 --> 0:02:13.240
<v Speaker 1>Yeah, it's wild, It's just crazy. Hey, let's go to

0:02:13.320 --> 0:02:16.600
<v Speaker 1>some of the after hours stories. As the retailers continue

0:02:16.639 --> 0:02:17.600
<v Speaker 1>to report.

0:02:17.960 --> 0:02:21.440
<v Speaker 2>Urban Outfitters man that one tick her URBN was moving

0:02:21.560 --> 0:02:22.119
<v Speaker 2>in a big way.

0:02:22.240 --> 0:02:24.640
<v Speaker 4>Yeah, it's up right now about twelve percent in the

0:02:24.639 --> 0:02:27.480
<v Speaker 4>post market. They reported net sales for the third quarter

0:02:27.520 --> 0:02:30.720
<v Speaker 4>that beaked estimates. It was one point five to three

0:02:30.760 --> 0:02:33.239
<v Speaker 4>billion versus estimates of about one point four to nine.

0:02:33.560 --> 0:02:35.920
<v Speaker 4>And then they're the parent company of a lot of

0:02:36.080 --> 0:02:40.280
<v Speaker 4>clothing brands that I know. Tim Senovic, you must know

0:02:40.360 --> 0:02:42.720
<v Speaker 4>and love Anthropology Free People.

0:02:43.120 --> 0:02:47.960
<v Speaker 1>I love you. Yeah, I'm not going No, I don't know.

0:02:48.440 --> 0:02:51.960
<v Speaker 3>You don't know anthrop know Anthropology, but I didn't. Yeah,

0:02:52.120 --> 0:02:53.639
<v Speaker 3>do they still have standalone stores?

0:02:53.840 --> 0:02:54.200
<v Speaker 1>They do?

0:02:54.360 --> 0:02:57.320
<v Speaker 3>Okay, Anthropology Urban Oufitters, I know years ago. Well, no

0:02:57.480 --> 0:02:58.320
<v Speaker 3>Urban Outfitters does.

0:02:58.360 --> 0:03:02.799
<v Speaker 1>But Anthropology is actually was in one Rock Center as one.

0:03:02.840 --> 0:03:05.079
<v Speaker 4>I was in the Rock Center one like that one.

0:03:05.200 --> 0:03:08.080
<v Speaker 4>It's a really Yeah, they didn't. They didn't have a

0:03:08.120 --> 0:03:11.040
<v Speaker 4>ton of like.

0:03:09.760 --> 0:03:11.360
<v Speaker 1>Like apparel inventory.

0:03:11.400 --> 0:03:12.800
<v Speaker 4>Sometimes you want to go into a store and you

0:03:12.800 --> 0:03:15.160
<v Speaker 4>want to try on a pair of jeans and then

0:03:15.160 --> 0:03:16.640
<v Speaker 4>they only have like sequence skirts.

0:03:16.639 --> 0:03:19.560
<v Speaker 1>But that's besides the point. Great Napkins.

0:03:19.600 --> 0:03:22.519
<v Speaker 3>There's a certain kind of napkin I've bought and they're

0:03:22.760 --> 0:03:24.840
<v Speaker 3>they're not inexpensive, so wait for when they're on sale.

0:03:24.880 --> 0:03:29.240
<v Speaker 1>But they're really nice and they last long. Okay, yeah, I'm.

0:03:29.160 --> 0:03:31.520
<v Speaker 4>Not endorsing, but no, we're not. We're not endorsing. But

0:03:31.919 --> 0:03:36.040
<v Speaker 4>the Urban and Anthro divisions also beat on net sale.

0:03:36.240 --> 0:03:39.440
<v Speaker 4>So overall, we had a consumer sentiment data out today

0:03:39.480 --> 0:03:42.880
<v Speaker 4>that was pretty bleak, But a lot of the earnings

0:03:42.880 --> 0:03:45.960
<v Speaker 4>reports that we've gotten from these retailers have been solid

0:03:46.040 --> 0:03:49.680
<v Speaker 4>at least, you know, just within the last twenty four hours.

0:03:49.680 --> 0:03:52.360
<v Speaker 1>By the way, everybody needs a little sequence in their wardrobe. Yeah,

0:03:52.440 --> 0:03:53.640
<v Speaker 1>a little sequence skirt.

0:03:53.840 --> 0:03:54.400
<v Speaker 3>Who doesn't.

0:03:56.400 --> 0:03:58.320
<v Speaker 1>This is a bit of a pivot, Yeah, printers.

0:03:58.360 --> 0:04:02.280
<v Speaker 4>So hp ink ticker HPQ down about five percent in

0:04:02.320 --> 0:04:04.720
<v Speaker 4>the after hours. The stock is already down twenty five

0:04:04.760 --> 0:04:08.680
<v Speaker 4>percent year to date. They missed earnings, and the company

0:04:08.680 --> 0:04:12.000
<v Speaker 4>also said they plan to reduce headcount by about four

0:04:12.160 --> 0:04:16.039
<v Speaker 4>thousand to six thousand by the end of fiscal twenty

0:04:16.080 --> 0:04:20.360
<v Speaker 4>twenty eight, the CFO saying during these earnings, we're trying

0:04:20.400 --> 0:04:24.760
<v Speaker 4>to mitigate recent cost headwinds, and we're investing in AI

0:04:24.960 --> 0:04:28.000
<v Speaker 4>initiatives like every other stock, so something it's hard to tell,

0:04:28.120 --> 0:04:31.680
<v Speaker 4>does that Capex and that investment, do the equity holders

0:04:31.760 --> 0:04:32.520
<v Speaker 4>like it or does.

0:04:32.440 --> 0:04:33.840
<v Speaker 1>It make them nervous that there's not going to be

0:04:33.880 --> 0:04:34.599
<v Speaker 1>a return.

0:04:35.480 --> 0:04:37.800
<v Speaker 2>I don't know. I don't know that everybody's chasing it.

0:04:38.080 --> 0:04:40.160
<v Speaker 1>Yeah, we shall see, We shall see.

0:04:41.160 --> 0:04:45.160
<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

0:04:45.240 --> 0:04:47.840
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:47.880 --> 0:04:51.000
<v Speaker 2>making news on Wall Street and for the latest market

0:04:51.040 --> 0:04:55.479
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:55.600 --> 0:04:59.080
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:59.160 --> 0:05:00.600
<v Speaker 2>the Bloomberg Busines in this act

0:05:04.920 --> 0:05:05.280
<v Speaker 3>Mm HM