Bloomberg Audio Studios, podcasts, radio news.
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 Kritti Goupta. Not a whole lot of movement broadly this morning, Cratie. But we are certainly seeing some moves in either direction with Qualcomm in focus, certainly this morning after earnings that beat, but maybe not enough.
Good morning, Good morning, Nathan. I mean, this is what happens. Again.
I keep using this analogy, but when the A plus plus student only gets an A plus, yeah, that's kind of what happens. Qualcom, of course, is known for making the the chips and the processors that used to be part of the Apple iPhone and so part of the Apple supply chain for a very long time, until Apple went in other directions. Nevertheless, Qualcom had diversified their kind of customer base for quite some time. This earning story shows a little bit of a different picture. Like you said,
things are fine, things are looking pretty good. They actually did meet their earnings. They gave a positive outlook. Analysts were broadly positive on the report. They even talked about a profit hit from a US tax change, sorry a profit Yeah, they did have a profit hit from a US tax change on that, but it wasn't as big as the street was expecting. So again, they should be
good numbers across the board, and yet it fell. And now this really speaks this idea that they did come up with some positive numbers, but they weren't as positive. It wasn't as big of a meat or margin of a beat as analysts were expecting. So you are seeing the shares actually come down just a little bit this morning to tune about three percent. Qcom is your ticker there, But ma, Nathan, I mean there are bigger stocks in the tech universe that are moving in a bigger way.
I'm gonna start we DoorDash with it.
I think we can still call that a tech company given it as a app at the internet.
U Yeah, Dash is your ticker.
Shares are spiraling lower, down about eleven percent this morning, trading at two hundred and twelve dollars a share in change. They are doing a meta which is a verb now and making it a verb. They're doing a meta where they're doing bigger investments, higher capex. They're trying to innovate,
they're trying to invest in some of their platforms. DoorDash, for example, has recently acquired Delivery, which is a UK food delivery business, so they're really trying to invest in a big way that they keep saying is going to help them in the long term. The street is looking at that and saying, this is way too much spend and we don't see how this is going to show the same returns that you're promising, and they're getting punished for DoorDash shares down some eleven percent as we speak.
It is your biggest volume mover to the downside this morning. There's another disappointment in the tech universe, and that is in the cybersecurity company for Tonet. FTNT is your ticker shares training Just Shive seventy seven dollars a share also down by just Shive eleven percent. They have a massive services business. Obviously as a cybersecurity company, that service is
forecast disappointed. The street was expecting a lot more investment into cybersecurity and they didn't exactly get that in this set of earning, so FTNT down about eleven percent. They're actually trading on and off in terms of with door Dash in terms of the worst performers this morning. I want to give you some good news though, because there is good news in this market.
It's coming from an unlikely source though, and that is Snap Inc. The parent company of Snapchat. Oh it is. I know. I haven't talked about it in a while, but it's it's one of us. While well that's what I'm pushing fifty So there you go.
Well that's its problem. It's trying to get to get the demographic. Maybe it's a new deal with Perplexity AI will help change that. They're talking about a four hundred million dollar deal to try to get AI involved in their search platform. Shares a rallying on it the street loves it Hire by twenty percent this morning. Snap shares trading just shy of nine dollars a share.
So there's some good news and pockets of this market.
This stock Mover'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.