¶ Intro / Opening
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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 Bailey Lipschutz with Normal Linda and we're joined by Bloomberg News Cross Asset reporter Deniza Sikkova. What's top of mind?
A lot of earnings, a lot going on, A lot of red on the screen. Yeah, but we're starting with one company that is not going to report earnings for TiO November nineteen. Nvidia is Actually it fell as much as four point five percent today. If you look over the last three days, it's down about nine percent, which is the worst stretch since April. So really one of
¶ Nvidia Faces AI Selloff Concerns
the biggest selloffs we're seeing, obviously in the whole AI space in tech, like the big moves we're seeing today are indeed driven by some of the big winners behind the Air Revolution. Of course, we had the story yesterday about Jensen Huan warning that China will build the US beat the US in the artificial intelligence race, so perhaps
this is weighing on sentiment. Of course, we have jobs date we have macro, We have a lot of things combined as more and more people have been worried about valuation, and one clear uh loser in that space is currently in video. The comments came after, obviously people have been worried for a very long time. He said China is going to win the AI race. Remarks come after Trump administration maintained a ban on Nvidia chips selling more their
most advanced chips to China. We also saw a report about Michael Burry actually placing a short bed there, which he has warned about multiple times. Multiple times he has been wrong, but clearly this week the combination factors are definitely weighing in. Of course, still a very strong year for Nvidia, but combining the warnings with the shaw Key foundation of the rally we have seen this year, we're seeing sentiments starting to weigh away in on Nvidia and
a lot of those AI winners. It's just just a proxy of a sentiment. I would say, yeah.
I mean, we're looking at a video of course, always still in focus, but we're looking at shares of video up about forty one percent near today. That's taker in v DA. I wish I had a good segue from chip makers to the beauty space. But you're also watching shares of elf Beauty.
Yeah, that's I don't know how to connect it as well. But the loss there is much bigger. We can say that for sure. Shares of elf Beauty fell as much as twenty four percent in pre market trading. But last time we really talked so much about l Beauty was when they signed that deal with Hailey Bieber. There was
¶ Elf Beauty Sinks on Outlook
so much enthusiasm the stock sword. There was kind of almost like a new era and a lot of optimism. Now we're seeing the opposite part of this company for wer outlook for just that earnings per share disappointed. Net sales as well missed analyst estimates. They're positive about sales growth, but there were perhaps a really high bar and high expectation about roads, which is Haley Beaver's brand, so there is some disappointment there. The company had passed on giving investors'
outlook in the weast quarter. This time, they gave about one point fifty five billion to one point fifty seven billion and earnings about two There's an eighty sins per share. This we've seen some growth. This is mostly thanks to the growth in both retail and e commerce channels. But that's it. It's having a really bad year despite a deal that brought so much optimism for this company. But we can see after earnings it's clearly falling about pretty.
Fast, really bad the year. Down forty percent this year, but even today the worst day since twenty eighteen. You're also looking at Robinhood, right, and of course I was taker Elf meant to mention that there.
Yeah, robbin Hood had a wonderful year and it still does. It's still have more than two hundred percent, but today we're seeing perhaps part of the market sentiment a really bad day. Films much is ten percent. The trading platform
¶ Robinhood's Mixed Crypto Revenue
reported cryptocurrency revenue that came below estimates. Robin Hood is so much more than what it was in twenty twenty one. They do close and funds, they do prediction markets, they do crypto, they do all of these. Thanks and retail investors and beyond have been rewarding them, and their valuations have gone through the roof. Their stock price has been going through the roof, and really anyone who invested in the company in the last two years have been rewarded
very well. That said, net income rolls two hundred and seventy one percent. This was better than one analyst expected. They also top fifty three cents average estimate of analysts. Just operating experences came higher than expected. And a big news is that their CFO is leaving, so perhaps that's also part of the sentiment. That's it. They've been growing really fast, so the drop today maybe is not weighing on prices that much. Here today, A.
Lot going on though, Thank you so much, Bloomberg News Cross Asset reporter Danitza Sikova 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.