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Let's take a look at some stocks on the move today.
I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Manteo.
Okay, I want to start with Qualcomm takr Qcom. It's down as much as four percent, now starting to recover from that dip just a bit. But basically, China's market regulator they opened an anti monopoly investigation into Qualcom over its acquisition of Israel's Auto Talks. This is really just comes down to this ongoing tit for tat right ahead of a meeting between Presidents Jenping and Donald Trump. China also slapped new port fees on US ships that's starting
October fourteenth. But if we take it back to Qualcomm, right that deal with Auto Talks. It was announced back in June and China's market regulator saying it's looking into the deals violations of the country's anti monopoly low. Qualcom technology, as you know, used in smartphones and networking as well, but there's been other investigations too by Chinese regulators. So
this is not the first. You know, they were looking into in Video's twenty twenty acquisition of Melanox too, So this is just kind of another investigation that's being launched now for Qualcom. And then I go to Levi Strauss It's ticker V.
Guess that's a company I know.
Ah no, I promise no. Their shares down as much as seven percent, Okay, So basically they had good news. They raised their full year outlook. The company's gross margin improved. They said higher prices larger volume of sales for these profitable channels helped. The issue is tariffs. The CEO said, they're starting to feel the impact of tariffs in the third quarter. They continue to expect tariffs at thirty percent of thirty percent in China, but increase that expectation to
twenty percent for the rest of the world. And that's kind of where investors got a little uneasy. So the company said, you know what, they're set for the upcoming holiday season. They already have seventy percent of the product they need, and they're also banking on this new rise in Western clothing. It's a popular thing. More people buying Western clothing, hence Levi's and jeans.
Saying hair of five ones cost.
Oh, I think I bought a pair for gosh, seventy bucks about seventy dollars.
Yeah, I remember they went to nine to ninety five and my father announced I will not buy blue jeans over ten dollars air. Oof, that was a few years ago.
Good luck. So theriff is there will be a thirty percent add on to your seventy dollars. Levi's not sure if it's passing on to the customer, but they have raised their prices so in China, if that yes, if that correlates.
Yeah, okay.
Next fascinating last one data center developer Applied Digital. Okay, I knew, I know, I know, Sorry tick your APLD. I mean their shares are up more than twenty five percent. So it did post stronger than expected quarterly results, right, but it said it's now in advanced talks with a hyperscaler client for its second data center campus in North Dakota.
So another data center campus. And then yes, there's also this finalize a new lease agreement AI cloud computing company cor We've core, We've we've been hearing a lot about.
Turning the stock. Tom stocks up twenty eight percent today year to date two hundred and eighty three percent, that's pretty good. Eighteen dollar market. What's a campus? I mean, if you're building a data center in North Dakota, it's like six employees and it's like when they take the Arc and in the first raiders of the Lost Arc and they I mean.
It's just a bunch of servers forever and they're ginormous. Johs Dakota.
We get it done.
I get that.
I mean I thought the Amazon factories were big. These are really big.
Surveillance electrician Paul Sweeney, is this about grids At the end of the.
Day, it's those like big.
Wires when you're driving along the road and you're going, are they giving me cancer? Exactly exactly, so we'll have to say, see yeah. I mean, the companies that are being and at least as stories every single day about the capital spending associated with this AI build dot, it just seems like a feeding frenzy and maybe it's all going to play on all the and will generate good returns for investors.
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