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The Stock Movers report your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Tim Steneveek along with Carol Masser. Let's take a look at some stocks on the move today. We are joined by Bloomberg News equity supporter Alexandra Semenova. What are you watching so?
Carol just mentioned that a lot of the indexes are pairing their gains. One of them is the Bloomberg Magnificence seven index. It was up one point four percent earlier today, now down, now up about point five percent, And one of the companies in that index today had some big news too, actually technically Meta platforms. It agreed to deploy millions of Nvidia processors over the next few years. This tightens the relationship that the two companies have in the
artificial intelligence industry. Meta accounts for about nine percent of in Video's rev you and it is committing to using more AI processors and networking equipment from the supplier, and for the first time, it also plans to rely on in Video's grace central processing units or CPUs, at the heart of standalone computers. This rollout will include products based on in Video's current Blackwell generation and the upcoming Vera
Rubin design. So pretty big development and the return of these kind of circular deals and partnerships with these big companies great for Nvidia.
Yeah, which is definitely it's been up as much as three percent today, but it's definitely.
Like you said, off those best levels of the session brick share, Hathaway, something you've been focusing on. We always love to see what they're doing with their portfolio, and they made a series of changes recently. They slashed their steak in Amazon by more than seventy five percent in the fourth quarter. But more notably, they did buy a steak in The New York Times. This is the last bet that Warren Buffett made as CEO. Berkshire acquired five point one million shares of The New York Times in
the final quarter of twenty twenty five. At the time that that steak was worth three hundred and fifty one point seven million dollars. So this investment is not only a sign of confidence in the company it's been doing a lot better than a lot of media companies, but also a bit nostalgic for Warren Buffett as well. He has had a lifelong curiosity around newspapers. He used to deliver the Washington Post and has had several stakes and newspapers.
So it's really really kind of symbolic that this is his last big bet.
As you see, Carol thinks he's a wordl fan.
Also, I can see that, and I'm like, I'm trying to is he trying to especially now that he'll have the extra time, you will have.
The extra time.
But I'm also like, curiously, is he trying to like protect the entity?
It's like such a you know, iconic media property.
I mean for now that Steak is doing quite well for the stock shares or trading at a record high. They're up one point three percent, and they're up about eight percent this year, which is outperforming the market, which is wild. All right, we're too next, Yeah, so last bit of news is we have Madison Square Garden Sports. They approved a plan to explore the spin off of
the New York Knicks and the New York Rangers. I hope you guys don't ask me any follow up positions about we this morning on surveillance.
He's just like, why are they doing this because everybody's spinning off everything right now?
But why it's all about spinoffs? But for them, it's also because they think that the individual loyalty to each of the teams will help kind of boost the potential stock prices of each of the team. So you have the Rangers fans, I guess they'll be betting on the publicly traded company that comes out of that. And then separately, I guess the Nick loyalists, Nicks loyalists rather remember.
When it made sense to like, let's get a bunch of you know, that's what teams and entities and create this line, right that used to be the equation was one plus one is three back then, and now you know, stronger together and those sorts of things. I don't know, but nowadays the values created when you right, we've seen this.
We've seen it in the financial build up.
Yeah, because that was yeah, you know, brought so much under its umbrella.
Investors like it. Yeah, they think they're going to unlock some value. Yeah, another stock right now that is trading at a record high, up sixteen percent today.
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.