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Let's take a look at some stocks on the move today. I'm Tom Keen with Paul Smeni and Bloomberg's Lisa Matteo working right to Happy hour on Friday. She has the Stock Movers. It's a podcast, Lisa.
We do a lot of earnings to get through, Okay, so we'll start with Tesla. Tsla down nearly four percent. So here's the thing. It was a record quarter of vehicle sales, but profit fell. That extended the string of weaker than expected profit to four quarters in a row. Now, on the earnings call, Elon Musk, he spoke about a few things. One, he talked about humanoid robots. He talked about AI programs. He also talked about self driving technology.
He asked investors to back his trillion dollar compensation package too. But what he really failed to touch upon in what else we're saying is that how Tasla is going to revive its core business of selling evs. And that's what kind of they wanted to hear and they didn't get that there was a forty percent drop in operating profit,
so that was the issue there. Their operating expenses is expensive, sort of fifty percent to three point four billion in the quarter, and tariff costs exceeding four hundred million dollars for Tesla.
Yeah, I don't think it's about being a car company anymore. He's trying to get into the focus on all the other.
Kids, just the car companies, all the other stuff.
Hope in prayers that's it is, But that's I would argue, that's generally been the Tesla slash Elon.
Musk's story from day one time.
But now you're really have to hang your hat on.
All that, he said, Ludlow driving his Tesla with his hands off the way I think he is.
Every time he he says he has a problem with the Golden Gate Bridge.
Yeah, well, you fine, splashing.
Into the toll booths are an issue, he said, what do you got next? Okay, T Mobile to take your tm US shares have been kind of back and forth. We've been back and forth. So it basically gained about a million new mobile phone subscribers. It raised its outlook for the year. It was all kept a flow because they had that recent acquisition of US Cellular and it absorbed about four and a half million customers from that.
It's their highest third quarter result in that category in more than a decade, so it was some good news for them. What also helped drive new subscribers. The analysts are saying it's the Apple iPhone seventeen release in September. People wanted it, and so they kind of traded and went to that and they expect to add as many as three point three million wild Lift subscribers for the year, about one hundred and thirty thousand five or home internet customers.
But we've been talking about this big battle between them at and T Verizon.
Where are you going to go?
And that's the question, where are people going now? I don't I mean, there was a huge T mobile success at one point, but I don't know really where it is right.
It comes down to price. I'm actually going to start shopping around so we'll see. Really, yes, I got to cut and cut some expenses out somewhere.
If you're listening over to Mobile, a magenta.
T shirt, a new iPhone, there you go, what do you got? Okay? I also want to go to IBM, because their sharees have really been taking a hit, down more than seven percent. Disappointing revenue. There were two key software categories, including their closely watched red hat unit and if you're wondering, what is that red Hat, So that basically helps customers manage their data applications among different types
of computing equipment. But the investors see those categories as critical to growth and they didn't see the growth, so that's what they didn't like. Third quarter sales and that hybrid cloud unit that includes red Hat increased fourteen percent, which was a slow down from the previous period, but also below estimates too, so investors were not happy with that.
Yeah, and the stocket you know, had been up thirty percent this year, so right, getting some of the AI love a little bit. And part of it was due to that red Hat, which was an acquisition they made I don't know, ten years ago maybe, and it was a big big deal for them at the time to try to turn this old stodgy tech company around. It was working, so says on a Rock Rana. For years, been a little bit of a hiccup.
Here this quarter, have they succeeded?
Yeah, I mean on Rock Rana from Bloomberg Intelligence. It says, Yeah, that was a good acquisition. They somehow turn this battleship kind of in the right direction.
But a little bit of it because says 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.