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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's Valerie Titel on a morning where we're asking what stocks aren't moving this morning? Valerie, dare we look at what Nvidia is doing after yesterday's wild ride?
Good morning, Good morning, Nathan. You know, I think most of the market's attention is on the price of Nvidia and where Bitcoin is trading this morning. Both are in the red. Let's start with Nvidia down near two percent in the pre market, so that's the bad news. The good news, I guess, is that it's rebounded from an earlier loss of being down over three percent earlier this morning in the pre market. So it's looking like we are maybe stabilizing, but perhaps I'm just looking at the
rosy side of the coin. Ky NASDAK is set for three back to back weeks of losses the week since April for the broader Nasdaq one hundred, we're down over four percent for Nasdaq features on the week.
A lot of that obviously.
Has been the weakness that Nvidia has driven after their results. I also want to check on some of these crypto linked stocks as we see Bitcoin down near six percent so far this morning. It was another key driver of the market Mayhem yesterday. We're seeing likes of Coinbase down two and a half percent, micro Strategy down four percent. It is now the worst month for Crypto Nathan in
three years, down twenty five percent. In the month of November down thirty five percent from all time highs just back in October, just seven weeks ago, when at top one hundred and twenty five k now trading at eighty two thousand.
Yeah, a lot of superlatives coming out of just this week. We do have some stocks in the green this morning, though after earnings. Let's start with into it. Even though it's not quite tech season yet, it's.
Not tax season yet, but it could take you less time due to their AI tools if you're using turbo attacks or quick books. So that is that is I guess the positive that AI monetization is showing up in some of these pockets of these software companies. Into it is the financial software company owns TurboTax and QuickBooks saw their sales jump on the back of these new AI tools.
The shares are up three and a half percent in pre market trade, the CEO citing that these early bets into AI are paying off for them, and they are especially seeing a tickup of use when it comes to mid sized businesses using their AI tools. Managements touting further plays to expand its use and we heard earlier this week that they are now integrating chat GPT into their Turbo tax software. So it's good news for into It when it comes to integrating these AI tools and making it pay off for them.
And it looks like good news as well for GAP as the retail earnings continue. Is there an AI story there or or something else?
Sadly no AI story here, but it does have a lot to do with their celebrity tie ups and the fact that their old Navy brand is doing very well, generating nearly sixty percent of total revenue in the previous quarter. So GAP shares are up four percent. They raise their sales guidance. They now see net sales growing above their recent projected range, and the CEO is touting gaps ability essentially to attract the higher side of this K shaped economy,
the higher end consumers. Because it's got a variety of brands and price points, it's really helping it insulate its performance in this tougher consumer environment. So gap higher by four percent.
And finally, Valerie, how is Warner Brothers Discovery doing now that it seems like almost everybody is making bids for it?
Three bids submitted, Netflix, Paramount and Comcasts all made bids for Warner Brothers ahead of the deadline yesterday. Shares are higher, up by one percent on the back of this news. Now additional rounds of bidding are expected, so competition for this company could be something that drives that final buyout price ever higher. But we're training at twenty three dollars a share up one percent on the back of this news.
This 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.