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 00:00:16,560 --> 00:00:19,079 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:19,360 --> 00:00:23,280 Speaker 1: I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Matteo. 6 00:00:23,640 --> 00:00:25,560 Speaker 1: Lisa stock Mover's Intel. 7 00:00:25,760 --> 00:00:27,720 Speaker 3: Yeah, and that's why Intel, it's one of the highest 8 00:00:27,720 --> 00:00:31,680 Speaker 3: movers on the markets right now, it's down about four percent, 9 00:00:32,120 --> 00:00:33,640 Speaker 3: as much as four and a half percent right now, 10 00:00:33,640 --> 00:00:36,120 Speaker 3: it's down about three percent. But President Trump, he called 11 00:00:36,159 --> 00:00:38,960 Speaker 3: on the CEO of Intel, Lip Bhutan, to resign. It 12 00:00:39,000 --> 00:00:40,800 Speaker 3: was in a truth social post, right he said it 13 00:00:40,840 --> 00:00:44,559 Speaker 3: was because of conflicts of interest. What conflicts of interest? Well, 14 00:00:44,840 --> 00:00:47,839 Speaker 3: this week you had Republican Center Tom Cotton. He questioned 15 00:00:47,840 --> 00:00:51,720 Speaker 3: his ties to China investments in the country's chip companies 16 00:00:51,760 --> 00:00:55,080 Speaker 3: with other connections to the country's military. That was a concern. 17 00:00:55,520 --> 00:00:59,440 Speaker 3: He noted specific concerns about his ties to Cadence Design 18 00:00:59,640 --> 00:01:02,240 Speaker 3: System and that's a tech company that he led for 19 00:01:02,280 --> 00:01:06,440 Speaker 3: like over a decade sold products to the Chinese military University. 20 00:01:06,480 --> 00:01:09,720 Speaker 3: The company pleaded guilty in July to violating the ux 21 00:01:09,800 --> 00:01:13,200 Speaker 3: export controls. So this is just a developing story, but 22 00:01:13,280 --> 00:01:15,120 Speaker 3: it is affecting those Intel shares. 23 00:01:14,880 --> 00:01:17,240 Speaker 1: Right, Can we remind us is Paul from early in 24 00:01:17,280 --> 00:01:21,880 Speaker 1: the pandemic Intel's enjoyed going from sixty to twenty Yeah, 25 00:01:22,600 --> 00:01:23,680 Speaker 1: I mean what a train. 26 00:01:24,000 --> 00:01:24,959 Speaker 4: It's just what remember? 27 00:01:26,720 --> 00:01:26,920 Speaker 5: Yeah? 28 00:01:27,000 --> 00:01:29,440 Speaker 4: It was as blue chip as anything, as anything. Right, 29 00:01:29,520 --> 00:01:32,920 Speaker 4: it's just at the pace of change in Silicon Valley is. 30 00:01:32,880 --> 00:01:35,320 Speaker 1: Just so thank god I was in the triple average. 31 00:01:36,440 --> 00:01:39,960 Speaker 4: Waves like Intel has missed. It seems like, well. 32 00:01:40,000 --> 00:01:42,920 Speaker 3: Next Okay, this is when a Paul's favors Peloton. Okay, 33 00:01:42,959 --> 00:01:45,200 Speaker 3: their shares have been up as much as twenty percent. 34 00:01:45,640 --> 00:01:47,039 Speaker 4: Pto N is a ticker. 35 00:01:47,440 --> 00:01:49,800 Speaker 3: It's kind of this mixed report. So they projected sales 36 00:01:49,840 --> 00:01:52,040 Speaker 3: decline in the current quarter. It said it would once 37 00:01:52,080 --> 00:01:54,800 Speaker 3: again cut jobs. Remember it's under new management, right, new 38 00:01:54,880 --> 00:01:58,360 Speaker 3: CEO Peter Stern. He's looking to turn around things. He 39 00:01:58,440 --> 00:02:01,559 Speaker 3: wants to continue cost cut in new products. He wants 40 00:02:01,600 --> 00:02:05,480 Speaker 3: to bring AI into more personalized workouts. Do things like that. 41 00:02:06,000 --> 00:02:10,400 Speaker 3: Subscriptions were lower. Total subscriptions for hardware fell six percent. 42 00:02:10,520 --> 00:02:14,040 Speaker 3: Those app base subscriptions they dropped about eleven percent. But 43 00:02:14,240 --> 00:02:15,720 Speaker 3: it says overall gross traffit. 44 00:02:15,840 --> 00:02:18,680 Speaker 1: It's your biggest position in our four oh one k Lisa, 45 00:02:18,680 --> 00:02:21,280 Speaker 1: it's probably all lever show. 46 00:02:21,440 --> 00:02:23,240 Speaker 4: She does like free ways. 47 00:02:23,120 --> 00:02:24,799 Speaker 1: You can I ask you a question like Old School 48 00:02:24,880 --> 00:02:28,079 Speaker 1: still times sales slower because of the weight loss drugs. 49 00:02:28,600 --> 00:02:31,400 Speaker 5: It's a good point that might be, but you know, 50 00:02:31,400 --> 00:02:34,560 Speaker 5: it's just one of those classic pandemic stocks and now 51 00:02:34,600 --> 00:02:35,600 Speaker 5: it's trying to find its way. 52 00:02:35,600 --> 00:02:37,639 Speaker 4: And it's been years since you're on what three times 53 00:02:37,639 --> 00:02:40,800 Speaker 4: a day? No, my girlfriend's on literally three times a day. 54 00:02:40,800 --> 00:02:42,600 Speaker 3: You write, you watch it, but I mean there's I 55 00:02:42,600 --> 00:02:45,600 Speaker 3: don't know how many, there's a lot out there, but I. 56 00:02:45,560 --> 00:02:48,040 Speaker 4: Mean you have to monetize that stuff. I mean, you've 57 00:02:48,080 --> 00:02:51,200 Speaker 4: got this huge user base and there and their passion. 58 00:02:51,280 --> 00:02:52,280 Speaker 4: These people are nuts. 59 00:02:52,520 --> 00:02:56,760 Speaker 1: Well, there's works talk about Peloton for another ninety right, 60 00:02:56,840 --> 00:02:57,840 Speaker 1: for that next. 61 00:02:57,600 --> 00:02:59,200 Speaker 4: Six AIRB and B. 62 00:03:00,240 --> 00:03:02,200 Speaker 3: So they issued a better than expected all look for 63 00:03:02,200 --> 00:03:05,280 Speaker 3: the third quarter, right, encouraging summer travel demand. But the 64 00:03:05,320 --> 00:03:07,680 Speaker 3: thing is is that they warned that sales growth may 65 00:03:07,800 --> 00:03:10,280 Speaker 3: moderate in the second half of the year, and that's 66 00:03:10,320 --> 00:03:12,760 Speaker 3: why their shares are taking ahead down about six percent. 67 00:03:12,840 --> 00:03:15,280 Speaker 3: I mean, it's chief executive offer Brian Chesky. He said, 68 00:03:15,560 --> 00:03:18,359 Speaker 3: we are not satisfied with the company growing approximately ten 69 00:03:18,440 --> 00:03:22,200 Speaker 3: percent year over year. We want the company to re accelerate. 70 00:03:22,520 --> 00:03:25,040 Speaker 3: So what didn't have help too on top of that 71 00:03:25,040 --> 00:03:27,720 Speaker 3: if you didn't hear about this, but Booking Holdings they 72 00:03:27,800 --> 00:03:31,000 Speaker 3: gave this lukewarm forecast, so they kind of pointed to, 73 00:03:31,160 --> 00:03:34,480 Speaker 3: you know, the broader economic uncertainty about travel. So that 74 00:03:34,600 --> 00:03:35,920 Speaker 3: didn't help them as well either. 75 00:03:36,000 --> 00:03:36,960 Speaker 4: But it's just. 76 00:03:36,960 --> 00:03:39,560 Speaker 3: That that look ahead that people didn't like and they 77 00:03:39,560 --> 00:03:40,760 Speaker 3: weren't satisfied with. 78 00:03:41,120 --> 00:03:43,760 Speaker 5: Well, I'm a Hurtz customer. I'm pretty happy more or less. 79 00:03:43,920 --> 00:03:44,960 Speaker 5: I'm a gold dude. 80 00:03:45,000 --> 00:03:46,600 Speaker 4: I just walk out and cut in my car. I 81 00:03:46,640 --> 00:03:48,640 Speaker 4: don't have talk to anybody on to deal they are. 82 00:03:48,600 --> 00:03:50,680 Speaker 3: And their shares have been up like nineteen percent, so 83 00:03:50,840 --> 00:03:53,760 Speaker 3: Hurts that's what I rainedfor for their shares as well, 84 00:03:54,800 --> 00:03:55,920 Speaker 3: So that was for Hurts. 85 00:03:56,040 --> 00:03:58,280 Speaker 4: And then we also talked about Eli Lilly. 86 00:03:58,400 --> 00:04:01,800 Speaker 3: Their shares were down as much as nine percent, so 87 00:04:01,920 --> 00:04:05,800 Speaker 3: they yeah, they've really really taken a hit. Ready was 88 00:04:05,880 --> 00:04:07,960 Speaker 3: higher than expected. So the thing is the data was 89 00:04:08,000 --> 00:04:10,400 Speaker 3: pointing to everything great, but it was a late stage 90 00:04:10,440 --> 00:04:12,920 Speaker 3: study and that's what really brought it down. It was 91 00:04:12,960 --> 00:04:15,680 Speaker 3: about their weight loss pill because everyone's waiting for that 92 00:04:15,840 --> 00:04:16,840 Speaker 3: pill instead of the shop. 93 00:04:17,160 --> 00:04:18,200 Speaker 4: You recovered a little bit. 94 00:04:18,160 --> 00:04:22,799 Speaker 1: Now as I mean, I guess it's all Meg seven. 95 00:04:24,160 --> 00:04:28,200 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 96 00:04:28,279 --> 00:04:30,840 Speaker 2: us throughout the day for the latest roundup of companies 97 00:04:30,920 --> 00:04:34,040 Speaker 2: making news on Wall Street and for the latest market 98 00:04:34,040 --> 00:04:38,520 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 99 00:04:38,600 --> 00:04:42,120 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 100 00:04:42,200 --> 00:04:43,679 Speaker 2: the Bloomberg Business app.