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Let's take a look at some stocks on the move today. I'm Tom Keene with Paul Sweeni Stock Movers, Lisa Montail.
You got it. We have to start within video, right, it's all we've been hearing about. Take your MVDA shares have been down nearly two percent. So basically the issue is at SoftBank sold its entire stake in Video, pocketing about five point eight three billion dollars. So what it's showing is that the company needs more money to kind of chase these number of projects that it has, right. It has storegate data centers, it has Aoai robot manufacturing sites in the US that it needs to put its
money toward. And the company said the sale it has nothing to do with it in VideA itself now, But it's a timing, right. It happens during this growing debate whether you know, spending by these tech firms like Meta Alphabeta are going to produce returns. But if you look back, it's not the first time Soft Bank sold out of in video. We saw back in twenty nineteen. Then it started buying back small steaks in twenty twenty, and it
kept buying. Sofs Bank's portfolio it also includes a lot of other AI companies like open Ai, Byteedance, Perplexity AI. So they're stocked up, but they need to kind of put their money in different places.
Us to say that, let's stop stuck. The Detroit Lions blue button. I'm new, folks, Paul. When you hear Lisa say that, how do you interpret OMG in video? It's a pullback?
I don't know. I mean, you know the long term trends on AI. I mean we just heard it from the earning cycle. We just plead here for the tech companies.
Boy, they're still spending huge.
Amounts of money and they showed no signs of slowing.
So Peak it's gotta be good for them.
Peak two twelve, yep one nine, Lisa's good story. One ninety five. It's cratered down four dollars. Are you ready? My long term exponential moving average, it's gone so far, so fast, thirty dollars below where we are one hundred and sixty two. The thing is incredibly extended in a bull market's.
Four point eight trillion dollars exactly trillion.
It's shinormous. What do you got next?
Okay? The next one is data center operated core Weave. So we're kind of keeping on this AI theme. C RWV Okay shares have been down as much as ten percent. Let me give you a little background. So it rents out access to AI chips. Right, it's a company that's held it's IPO in March, based in livingson New Jersey. So they attract yes, investors at livings and diner. Oh awesome, great place. Yes, yes, so they yeah, we can do it. They have a good breakfast, attracted investors betting on the
explosion in AI spending. So it's a close partner to in video.
Right.
It's customers are like open AI and Microsoft. So it lowered its annual revenue forecast. It suffered a delay from a fulfillingate customer contract. It's CEO said, you know what, fourth quarter results are going to reflect it. But the client you know, affected by it. He's agreed to adjust delivery schedules, so don't worry about it. But it just goes to shouts the challenges of meeting this huge, huge demand for AI that a lot of these companies are
having keeping up all right, pretty good. Paramount Sky, yes, okay, here we go up here. Psky it shares have been up as much as five percent. So it was their first report right since a new investor group took over the company in August. They raised their target for job cost saving measures. Here's what they planned, an additional sixteen hundred person workforce reduction, a goal to achieve at least
three billion in cos cost saving. So what do they plan to do with that money, Well, they said about one and a half billion in additional twenty twenty six spending for Paramount Plus streaming service for the UFC, for third party licensing, boosting their film slate. They want to release at least fifteen movies per year starting in twenty twenty six. So they have these big goals and they forecast like thirty billion in revenue next.
Yearmover'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