Amazon and Apple Push Higher; Meta Rebounds on Bond Sale; Exxon Mobil Lower - podcast episode cover

Amazon and Apple Push Higher; Meta Rebounds on Bond Sale; Exxon Mobil Lower

Oct 31, 20254 min
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Episode description

On this episode of Stock Movers:

- Amazon (AMZN) is higher after it reported third-quarter revenue of $33 billion, a 20% increase from the prior year and the biggest year-over-year rise since the end of 2022. The company's shares surged after the earnings report, with Chief Executive Officer Andy Jassy saying "We have momentum" and analyst Melissa Otto stating that the AWS business is "firing on all cylinders".

- Apple (AAPL) is up this morning after the company gave an outlook that is seen as strong, offsetting fourth-quarter results that featured weak China revenue and a mixed read on the iPhone.

- Meta (META) is rebounding this morning after it sold $30 billion of investment-grade bonds on Thursday, the biggest high-grade corporate bond offering of the year, after receiving record orders for the debt. The bond sale comes after Chief Executive Officer Mark Zuckerberg warned that the company would spend even more aggressively on artificial intelligence in the coming year.

- Exxon Mobil (XOM) is lower even though it topped estimates as its Yellowtail project in Guyana brought the country’s production to 700,000 barrels a day in 3Q - a record.

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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Kritty Goupta on a very busy earnings morning, from big tech to big oil. This morning, pretty the big winner has to be Amazon.

Speaker 2

Good morning, Good morning, Nathan. Yeah, Amazon really moving the market in a very big way. I mean there's beats and then there's beats like this. AMZN is your ticker for Amazon. It is your biggest volume trader. Traders say your stock mover to the upside. AMZN is your ticker two hundred and fifty one dollars a share, marking an almost thirteen percent move. This is what I mean. Usually when we see tech earnings like this, we'll say six

percent move, seven percent move, not really thirteen. So Amazon really blowing it out of the water. When it comes to their cloud unit. They are posting the fastest growth since twenty twenty two. This is, of course, amid the backdrop of a lot of concerns, but maybe this is peak cloud growth. This is the thing that really worried the likes of Microsoft Asia earlier in the week. Nevertheless, Amazon really proving its doubters wrong and getting rewarded for it.

This morning AMCN higher by almost thirteen percent, not alone in the tech space because Apple reported yesterday as well. You're not seeing the same games, but still a good news for the iPhone maker AAPL as your taker, trading at two hundred and seventy six dollars a share and change hired by about two percent this morning. A couple of positives here. Now, remember we were all really worried about their ability to actually sell the iPhone and what they have to do at a higher price given some

of the supply chain and tear of concerns. Turns out, not only are they not worried about it to the same extent, they're saying they have a big holiday season sales figure coming up I think of their new iPhones are really expected to take off. On top of that, they're also talking about turning a little bit of a bigger profit and more exposure into China, which is a market that they've had a really tough time with given that they are of course competing with the Huawei contender

in that market. Nevertheless, the market is happy with what they saw yesterday. AAPL hire by about two percent. We should mention some of the other tech stocks as well. Meta for example, is having a good day after selling off in yesterday's session six hundred and seventy four dollars

to share. Meta hire by one point one percent. Now, their earnings were kind of came in a little bit disappointing for unworrying they for a lot of investors earlier this week, but then they sold thirty billion dollars of bonds in marct the year's biggest offering, record demand for something like that. So maybe they didn't win over their stock investors, but they certainly did in terms of their

bond market investors. The stock market taking their que from the bond market this morning high by one percent after that deal. Nathan, let me give you a downside mover if I can, because oil earnings are coming in thick Exon Mobile XOM is your taker, down about one and a half percent this morning, one hundred and thirteen dollars

a share. Now, look, they beat their estimate. They're talking about starting up a series of good, big projects, talking about completing twenty billion dollars of share repurchases, but does look like the week pricing really hurt their profit in the third quarter. Of those shares dropping this morning.

Speaker 1

The Stockmover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.

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