1
00:00:02,520 --> 00:00:08,800
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.

2
00:00:08,880 --> 00:00:13,160
Speaker 2: Stock Movers podcast, your roundup of companies making moves in

3
00:00:13,200 --> 00:00:17,560
Speaker 2: the stock market, harnessing the power of Bloomberg data.

4
00:00:17,720 --> 00:00:19,919
Speaker 3: Let's take a look now at some of the stocks

5
00:00:19,920 --> 00:00:23,160
Speaker 3: on the mood today. We're joined by A Bloomberg's Pretty

6
00:00:23,200 --> 00:00:26,160
Speaker 3: goop to. I'll make you make the choice this morning.

7
00:00:26,239 --> 00:00:29,000
Speaker 3: You want to do chips or banks? Or how do

8
00:00:29,040 --> 00:00:29,680
Speaker 3: you want to start?

9
00:00:29,720 --> 00:00:32,840
Speaker 1: Pretty good morning, John. We's start with the banks.

10
00:00:32,560 --> 00:00:35,760
Speaker 4: Because that feels like the most exciting and voldele stocks

11
00:00:35,760 --> 00:00:36,160
Speaker 4: this morning.

12
00:00:36,240 --> 00:00:37,559
Speaker 1: I'll start with Bank of America here.

13
00:00:37,800 --> 00:00:40,480
Speaker 4: They just came out with their earnings about fifteen minutes ago.

14
00:00:40,600 --> 00:00:44,240
Speaker 4: BAC's your ticker, shares hire by about two percent, treating

15
00:00:44,440 --> 00:00:47,760
Speaker 4: just shy of thirty eight dollars a share. Now, the

16
00:00:47,760 --> 00:00:51,400
Speaker 4: Bank of America numbers are as follows beat on interest

17
00:00:51,520 --> 00:00:54,040
Speaker 4: income fourteen point four to four billion. The estimate there

18
00:00:54,280 --> 00:00:57,360
Speaker 4: was about fourteen point three six billion. The first trading

19
00:00:57,720 --> 00:01:00,400
Speaker 4: first quarter trading revenue scuse me is also so coming

20
00:01:00,480 --> 00:01:03,040
Speaker 4: in hotter than expected. Five point six is five billion,

21
00:01:03,240 --> 00:01:05,800
Speaker 4: the estimate was about five point five. So some strong

22
00:01:05,880 --> 00:01:08,680
Speaker 4: numbers out of b of A and some comments by

23
00:01:08,680 --> 00:01:10,839
Speaker 4: the way from Brian moynihan, the CEO as well, seeing

24
00:01:10,880 --> 00:01:14,039
Speaker 4: that the consumers maintained a healthy credit quality. We'll see

25
00:01:14,080 --> 00:01:15,920
Speaker 4: what they have to say on there's earnings call. But

26
00:01:16,040 --> 00:01:18,280
Speaker 4: right now good news for Bank of America and the

27
00:01:18,319 --> 00:01:20,760
Speaker 4: stock is trading accordingly. We are of course waiting for

28
00:01:20,800 --> 00:01:23,880
Speaker 4: City Group earnings as well. So those stock or actuld

29
00:01:23,880 --> 00:01:25,760
Speaker 4: say that stock is already higher this morning, just sh

30
00:01:25,800 --> 00:01:28,080
Speaker 4: I have one percent trading with the letter the ticker

31
00:01:28,120 --> 00:01:32,000
Speaker 4: excuse me, CE trading at about sixty three dollars and change.

32
00:01:32,040 --> 00:01:36,319
Speaker 4: So some positivity banked into the bank stocks this morning.

33
00:01:36,400 --> 00:01:37,920
Speaker 1: We talked about the chip.

34
00:01:37,680 --> 00:01:40,080
Speaker 4: Stocks, excuse me, the car stocks first, the auto tariffs

35
00:01:40,160 --> 00:01:42,200
Speaker 4: repri that we're going to get because four chairs are

36
00:01:42,280 --> 00:01:45,399
Speaker 4: unchanged this morning. But General Motors are actually selling off,

37
00:01:45,440 --> 00:01:47,920
Speaker 4: and this might be a reaction to yesterday's gains.

38
00:01:48,040 --> 00:01:49,840
Speaker 1: But GM is a ticker to keep an eye on.

39
00:01:50,480 --> 00:01:53,320
Speaker 4: Down about six tenths of one percent trading just shy

40
00:01:53,680 --> 00:01:57,800
Speaker 4: of forty five dollars per per stock, which won't even

41
00:01:57,840 --> 00:01:58,960
Speaker 4: say per barrel, it's per stock.

42
00:01:59,000 --> 00:02:02,680
Speaker 1: Excuse me. Boeing is also seeing quite a bit of

43
00:02:02,760 --> 00:02:03,720
Speaker 1: volume to the downside.

44
00:02:03,720 --> 00:02:07,040
Speaker 4: BA is your ticker trading just shy of one hundred

45
00:02:07,040 --> 00:02:10,480
Speaker 4: and fifty four dollars per share, down about four percent

46
00:02:10,560 --> 00:02:12,680
Speaker 4: of This one's interesting because it comes off of a

47
00:02:12,760 --> 00:02:15,920
Speaker 4: headline here that China is ordering a halt to Boeing

48
00:02:16,040 --> 00:02:19,320
Speaker 4: jet deliveries as part of the trade war. This is

49
00:02:19,320 --> 00:02:22,680
Speaker 4: something that Ryan Air CEO Michael O'Leary had also talked

50
00:02:22,680 --> 00:02:25,119
Speaker 4: about in terms of delaying some of the Boeing deliveries

51
00:02:25,160 --> 00:02:25,600
Speaker 4: as well.

52
00:02:25,600 --> 00:02:27,800
Speaker 3: A well, Boeing just can't get a break.

53
00:02:27,840 --> 00:02:29,960
Speaker 1: It seems lately they can't get a break.

54
00:02:30,000 --> 00:02:33,160
Speaker 4: But the China headline is interesting because you should in

55
00:02:33,200 --> 00:02:35,320
Speaker 4: the last couple of years after the seven thirty seven

56
00:02:35,360 --> 00:02:39,120
Speaker 4: Max crash, China was also the very last regulator in

57
00:02:39,160 --> 00:02:41,600
Speaker 4: the world to lift the ban on the seven thirty

58
00:02:41,600 --> 00:02:44,919
Speaker 4: seven maxes. So as a function, Boeing's kind of exposure

59
00:02:44,960 --> 00:02:47,440
Speaker 4: to China went from something like twelve percent a couple of.

60
00:02:47,480 --> 00:02:49,440
Speaker 1: Years ago down to about three percent.

61
00:02:49,520 --> 00:02:52,120
Speaker 4: So really keep an eye on how reactive this stock

62
00:02:52,240 --> 00:02:55,240
Speaker 4: is relative to actual how much actual exposure they have

63
00:02:55,320 --> 00:02:57,800
Speaker 4: to China. But nevertheless, taking a beating this morning, to

64
00:02:58,000 --> 00:03:01,560
Speaker 4: your point we talked about PepsiCo was well, John pep

65
00:03:02,240 --> 00:03:04,480
Speaker 4: is a ticker down about one percent this morning, trading

66
00:03:04,480 --> 00:03:07,640
Speaker 4: at one hundred and forty five dollars a share, Bank

67
00:03:07,680 --> 00:03:10,919
Speaker 4: of America downgrading the stock to a neutral. So call

68
00:03:10,960 --> 00:03:15,639
Speaker 4: it for slower snack growth. If that's a recession indicator, I'm.

69
00:03:15,520 --> 00:03:16,280
Speaker 1: A little worried there.

70
00:03:16,320 --> 00:03:19,240
Speaker 4: But PepsiCo certainly taking a beating their price target of

71
00:03:19,240 --> 00:03:21,440
Speaker 4: one hundred and fifty five dollars a share trading at

72
00:03:21,480 --> 00:03:23,920
Speaker 4: one hundred and forty five right now, so a little

73
00:03:23,919 --> 00:03:26,640
Speaker 4: bit upset. According to Bank of America, is still trading

74
00:03:26,680 --> 00:03:27,640
Speaker 4: at a neutral.

75
00:03:29,040 --> 00:03:33,160
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

76
00:03:33,240 --> 00:03:36,000
Speaker 2: us throughout the day for the latest roundup of companies

77
00:03:36,040 --> 00:03:39,120
Speaker 2: making news on Wall Street and for the latest market

78
00:03:39,120 --> 00:03:43,520
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

79
00:03:43,560 --> 00:03:46,800
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with

80
00:03:46,840 --> 00:03:48,360
Speaker 2: the Bloomberg Business app.