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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'sabirabu Omar. We got to start off with the banks. We heard from Bank of America this morning, and it looks like a mostly positive earnings result is take being taken mostly positively by investors.
Good morning of beer, good morning, Yeah, you're right. I mean, look this Bank of America, and we're expecting Morgan Stanley shortly. Morgan Stanley is not doing much, up a tenth of eight percent so far. Bank of America, though it's gaining in the pre trade following the earnings that just came out. I have been taking a look at them now. This follows earnings that we saw from rivals including Goldman Sachs, JP, Morgan City Group as well. In the picture, as you
have pointed out, across the financial space is reassuring. So for now, for BOTHA or Bank of America, we look for the picture. In the consumer resilience space, it was poised to post a six point five percent gain net interest income, and the one court the first quarter interest
income had a beat. Actually, one thing that it parallels Goldman in is that fake missed, so Fick trading miss so it joins this Goldman club where we saw yesterday that Fick trading was down more than seventeen percent, unlike equity trading. JP Morgan and City had good results when it came to both of these sectors, unlike Goldman. So we see b of A is in that club as well, and we await Morgan Stanley this morning before the trading starts in the United States.
Right a record notched by stock traders at Bank of America as well. On the flip side, the luxury space just keeps getting hammered by what's happening in the Middle East.
Of Beer absolutely, I mean it's already started trading. The French CAC is not doing very well. That's because most of the luxury stocks in Europe are listed there. So or Mez is a story that we were looking at as a matter of fact. I mean our Mez is now down nine percent, was falling as much as fourteen percent earlier in the trade, which was the most on record, and this is after it posted results that suggested that
the first quarter was had disappointing numbers. And this is as the fallout from the Middle East leads shoppers to not shop as much for bags, but also because of tourism numbers in France. So yes, the Middle East was where you shopping. Hubs like Dubai were affected. Had a major toll on the company, which is resilient in usual times, and it's led to contagion across the luxury sector. So you're seeing the same thing happen in LVMH, Dure and Burbery.
Another stock that's looking resilient this morning is Broadcom. Tell us what's happening there.
Yeah, so in the pre trade it is now gaining two point six percent, almost two point six percent, and this is due to a partnership. So Meta is partnering with Broadcom to design and essentially build custom trips to power its AI effort. And this is an extension of an existing relationship really that they had or have to
create these competing units called TPUs. So some details about this partnership include a commitment to develop those chips that will provide more than one gigawat of commuting, computing capacity and so this further These further talks in the relationship are expected to lead to a positive outcome in broadcom. The stock coaches, as I said, up nearly two point seven percent as of now in the pre trade.
The Stock Movers 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.