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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel with a lot of earning stories to tell this morning. Valerie, let's start with the new What did we get from AT and T this morning?
It was a decent beat for AT and T.
Shares are up two point eight percent so far in the pre market.
The wireless provider added.
More mobile phone and home internet subscribers than expected after what was a heavy promotional push in the quarter. They did miss just slightly on revenue, but AT and T added that the full year earnings per share would land in the upper range of their previous guidance. Now. AT and T is the first of the major wireless providers to report results. It's been positive so far. We have T Mobile on deck tomorrow morning.
Okay, so some positivity to take our attention away from the disappointment that we've been talking about all morning. From Netflix.
Netflix down six and a half percent. Nathan, a surprise six hundred million dollars tax dispute with Brazil cut into its earnings, which meantes operating income came in less than expected. Executives were quick to say they don't expect this issue with Brazil to have a meaningful impact on quarters to come. It was just a one off charge. But outside of this, the earnings looked pretty decent. They were given a boost by the movie K Pop Demon Hunters.
Not sure if you've seen it yet, Nathan, but going on.
I've seen it, the most popular Netflix film of all time. They also sought to comfort investors excuse me, who are worried that AI generated video content is affecting its business model. Netflix address this in a letter to shareholders, touting record subscriber engagement in the previous quarter, in the fact that
they don't see AI general videos weighing on the streaming giant. Instead, they see it hitting more of the likes of user generated content such as the videos you see on TikTok and Instagram.
So they hope things will be golden later on. Less golden for Texas Instruments. So this was just not a good story all around.
Yeah, Texas instrument is down seven point seven percent. In the pre market. This is the biggest maker of analog chips. They gave a disappointing forecast for a second quarter in a row. It's just adding to concerns that the turnaround for the analog chip sector is sputtering. The CEO saying customers are still in a wait and see approach to their chip demands, to the capital expenditures as tariff uncertainty
continues to slow down business decisions. They highlighted particular weakness in autos and in their China business.
Speaking of tariff uncertainty, I guess that's why Mattel's taking a beating this morning.
Yeah, Matt's El down six point four percent, sales dipping as tariff uncertainty has delayed some customers orders. Now North America sales declined twelve percent from last year. Nathan, the CEO, says, though the customers orders are delayed, they're not necessarily canceled and they are expecting a boost in fourth quarter sales.
Finally, Valerie explained beyond meat to me, why is it up ninety seven percent right now?
This one might take longer than sixty seconds.
Name beyond meat, these shares are doubling in the pre market.
It really has gotten silly.
They essentially went from fifty cents four days ago to now seven dollars and forty cents per share in four sessions, which is a spike of thirteen hundred percent. Now, the original spike on this week was on the back of a social media frenzy.
It got added to yesterday after.
Walmart announced that it will increase the availability of beyond meat products in its stores. And this all comes after a very heavy dilution of shareholders after a debt swap last week. So it's gone to a penny stock to now seven dollars from twenty cents, doubling in the pre market.
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.