Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel, taking a
Speaker 3: look at US equities and American depositary receipts as well,
Speaker 3: because we got to talk about what's going on with
Speaker 3: Ali Baba this morning. Valerie, good morning, Hey, good morning Nathan.
Speaker 1: Yes, the excitement still continues for this AI trade. Ali
Speaker 1: Baba was upgraded by both Morgan Stanley and morning Star
Speaker 1: about their excitement of the planned AI CAPEC spending that
Speaker 1: they pledged last week. Morgan Stanley looking very positive on
Speaker 1: their cloud revenue and morning Star is saying that the
Speaker 1: shares are undervalued, and that's quite a statement given the
Speaker 1: shares have already rallied fifty percent this month alone. So
Speaker 1: Ali Baba is filling the positivity up nearly three and
Speaker 1: a half for sent so far in this morning's trade.
Speaker 1: It seems like the excitement for the AI trade is
Speaker 1: still palpable.
Speaker 3: Yeah, we've got AI competition heating up given what we're
Speaker 3: hearing about what Huawei's plans are, what's that mean for
Speaker 3: potential competitor in Vidia.
Speaker 1: Well, let's start with the bloomberg scoop. Huawei is to
Speaker 1: double output of top ai chips to rival Navidia as
Speaker 1: their market share waivers in China, but Navidia is still
Speaker 1: in the green. On the back of this news, I
Speaker 1: tell you the positivity is just rolling on Nvidia of
Speaker 1: seven tens of one percent. On the back of this
Speaker 1: bloomberg scoop that Huawei is planning to double its output
Speaker 1: of chips. Now now it's It's chips do lag Navidia's
Speaker 1: in terms of performance, but they are still working on
Speaker 1: trying to build a chip that would rival Navidia's performance.
Speaker 1: Even Navidia's chip that was designed for the China export
Speaker 1: market isn't necessarily their top chip, and there is still
Speaker 1: discussions that Navidia is preparing a better chip to eventually
Speaker 1: be exported in it to the Chinese market. But they
Speaker 1: have hit but hit by a lot of geopolitical headwinds
Speaker 1: of late, both the Chinese government warning top chip top
Speaker 1: tech companies in China not to use Navidio's products, but
Speaker 1: the video has been doing all right over the month,
Speaker 1: and this morning is in the green, up seven tens
Speaker 1: of one percent.
Speaker 3: Yeah, doing all right. Maybe an understatement there. Moving well
Speaker 3: away from the AI trade, we've got some news in
Speaker 3: the energy space this morning.
Speaker 2: Yes we do.
Speaker 1: Occidental Petroleum has or it's been reported in the FT
Speaker 1: that they are looking at a divestiture. An oxy stock
Speaker 1: is up one and a half percent so far in
Speaker 1: pre market trade. Now the FT is saying that they're
Speaker 1: in talks to sell their petrochemical unit for ten billion
Speaker 1: dollars and they'll be doing this in order to pay
Speaker 1: down debt. Now this is a theme that it's a
Speaker 1: theme of Occidental Petroleum recently. They've been doing some divestitures
Speaker 1: in order to pay down their near term debt. But
Speaker 1: this would be the biggest deal that they've done so
Speaker 1: far if it were to go through, and actually the
Speaker 1: company that they would spin off would be the world's
Speaker 1: largest standalone petrochemical company. But still on these FT reports,
Speaker 1: the share is looking positive this morning on the back
Speaker 1: of hopes of paying down some near term debt for
Speaker 1: Occidental Petroleum.
Speaker 3: And we've got some headlines that directly affect the defense
Speaker 3: industry as well.
Speaker 1: Yeah, this is a Wall Street Journal report that the
Speaker 1: Pentagon is looking to double or even quadruple missile production.
Speaker 1: We're seeing shares of lockeed up two point six percent,
Speaker 1: RTX up two point three and even Boeing in the
Speaker 1: Green up one point three percent. Now, all these companies
Speaker 1: were cited in this Wall Street Journal report that the
Speaker 1: Pentagon is looking to amp up missile production for a
Speaker 1: potential conflict with China. The Wall Street Journal mentions a
Speaker 1: council that was set up called the Munitions and Sorry,
Speaker 1: Munitions Acceleration Council back in June, so this is reporting
Speaker 1: that this idea is still in the place.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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