¶ Intro / Opening
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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Jim Statific along with Carol Masser. Let's take a look at some stocks on the move today with us is Bloomberg News process at reporter Emily GRIFFEO Emily. The mag seven taking a bit of a hit today among the worst movers. When it comes to mag seven, an EV company, then what do we call it an EV company anymore?
Yeah?
An EV company and robotics and AI technology. Have you not seen, Michael, that they do humanoid robots?
I've seen what they sell it it's mostly cars. We're talking about Tesla.
Right, We're talking about Tesla. Yes, ticker t SLA biggest injur Day drop since July. It was down over five percent. It's regained a little bit, but it's still down about four percent. After data showing that European sales of the
¶ Tesla Shares Fall on European Sales
carmaker fell twenty two percent in August, so that gives the company a market share in Europe of just one point nine percent. This is a report from the European Automobile Manufacturers Association. We get this report every month. It actually often tends to move Tesla's stock price. And Europeans are still buying other evs, but just not Tesla's as much. We did see ev sales rise in the region in August, but the Tesla sales dropping.
Not so good.
Not so good. On the flip side, Intel continuing to have another good day.
Yeah, Intel extending gains for a third day. It's up seven percent and it's extending again after Bloomberg reported yesterday that the chip maker had approached Apple to ask for
¶ Intel Approaches Apple for Investment
an investment. This is just the latest of a series of Intel headlines that we've gotten in the last couple weeks. The stock is up thirty six percent over the last month, and this is tigger intc Intel. Our reporting is citing people familiar with the matter. The latest that we know now is that Apple and Intel have also discussed how to work more closely together, and that the talks are
early stage and may not lead to an agreement. But the headline here is that Intel approach Apple for an investment.
Well, and it's our Mark German said, because we were talking to him, like why would Apple do it? And we really talked about kind of political clout. I was calling it the presidential diplomacy or ceo presidential diplomacy. But it's kind of interesting. But he says, you know, tech CEOs, they kind of talk to each other all the time, these big two guys.
Yeah, this would be you know, like like we said, the string in the latest of different investments. Obviously, last week we saw five billion dollar investment by Nvidia, Intel, Intel, we've seen the actual US government investing. And just for context here, I'm sure you guys know because you talked to a lot of tech analysts. But Apple was a longtime Intel customer but then switched to in house processors in the past five years, so maybe they're going back.
Who knows, what do you want to go? CarMax. So Intel was the best performer in the S and P five hundred. Today the worst performer is CarMax, the used car retailer, plunging down twenty percent to five year lows.
¶ CarMax Plunges on Weak Earnings
Bad earnings. They missed EPs, net sales and operating revenue, and the street was pretty vocal about this earnings report. So Truest Financial Services said this was a quote miss across the board with quote really nothing good to see for carmas used vehicle sales coming in at five point two seven billion dollars, but that was down seven point
two percent year over year and also missed estimates. The auto retailer actually pointed to a fallout from Trump's tariffs and rising distress among consumers as it reported these earnings.
You know, I don't understand the environment here because I saw that. That's I saw that too, Emily, And just in our program Bloomberg Business Week Daily earlier on Thursday, we spoke with the CFO of a firm, Rob O'Hare, who said, the consumer is great right now. Everything we are seeing is fine.
I am so confused.
So if CarMax is out saying that the tariffs have caused this distress and people are pulling back, right, what are they saying? Look, her car is a big purchase. But yeah, if they're not seeing that at a firm, then I don't know what gifts I don't know.
Right, these are the crossairs that we can't play for the uncertainty.
Even our very own FED chair Jerome Powell, was talking recently about just how much uncertainty there is for business leaders. So yeah, CarMax takerr K m X down now almost twenty percent.
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 bl Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.