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 of the stocks on the move today. AM Paul Sweeney alongside John Tucker. We're joined by Bomberg's Least Mitaeleish. What are you looking at all? Right?
We want to start with Taiwan Semiconductor Manufacturing ticker TSM. Their shares been up as much as two percent. So here's the thing, right, It posted better than expected thirty nine percent jump in profit, hiked its projection for twenty twenty five revenue growth for the second time this year, raise its forecast for capital spending, which is key. So what it's basically doing it it's reinforcing hopes on how long the global AI boom spending is going to stick around.
It's also showing a little bit more approof how chip makers stand to be among the biggest winners from that boom. And that boom and we've talked about it expected to push past one trillion dollars in coming years. That's a lot of money. Now when we look at chip equipment stock. So for example, you look at ASML, which gets seventeen percent of its revenue from TSMC, their ADRs are up
nearly two percent. And then in the US, if you watch TSMC suppliers for example like Applied Materials KLA LAMB Research, their shares are all up about one percent. So some good news for Taiwan semiconductor manufacturing. Where the bad news is that is computer hardware storage company Hewlett Packard Enterprises ticker HPE. Their shares have been down as much as nine percent. What they did, they issued a full year
forecast for profiting cash flow fell short of estimates. And you know HPE, right, it's one of the largest makers of computing equipment, so it's betting on networking as this major piece of its future expansion. How it wants to expand. If you remember back in July, it said that it was going to buy Juniper Networks for about thirteen billion dollars.
But HP they have tighter margins to building these servers with those expensive AI chips, and they have made the machines a little bit less profitable, and that's the problem.
The stock was up, you know, seventeen percent your date, So it's going to it's giving back a good chunk of that today.
Give me that his When was it that they split apart HP and HGP twenty four, twenty fifteen, right.
Yeah, something like that. Yeah, and HPE and HPQ are the two ones.
But that's just I.
Mean, hp is one of the founding members of Silicon Valley.
That's how I think about it.
Oracle, Intel, those kinds of names.
I always with those tickers, make them like HPQ.
I need too on a rock? What do I need to do here?
Exactly?
H and we'll stick with There were loads of software company Salesforce. This one is ticker a CRM. Their shares have been up more than about five percent forecast revenue growth. It's going to accelerate to double digits in the coming year. So that was a big news and that kind of ease investor concerns about the pace of the business. What investors they were worried about is that customers were spending their budgets on AI tools from startup companies instead of
like traditional vendors like Salesforce. So this kind of reassured that for them. They expect sixty billion dollars in annual revenue by fiscal year ending in January twenty thirty. That excludes any contribution from the planned exquisition they have from Informatica. But the company is also going to buy back an additional seven billion of shares in the next six months. So it's really the good news that the company needed.
I mean, the stock has taken a hit drop about twenty nine percent through Wednesday's closing.
And it had been such a classic winner, classic software story, It's just always going to work. But then people said AI is AI going to replace a lot of the functionality of some of the salesforce software? That was I think the concern I heard from some of the tech books.
Gee, I sense a common theme running through all these stocks this morning, Lisa.
Well except for the last one, United Airlines. There you go, I'll sneak that one in there.
You just heard from the CEO earlier, Kirby.
Yes, Remember he was just talking about saying that they're getting more corporate clients. He was saying International tray is coming back when he was telling Lisa Bromwitz. So it's ticker u al. But the problem is that their shares have kind of taken a turn. They've slipped down more than one percent because analysts a Bloomberg Intelligence are saying the airlines results, they're showing signs of saturation even in the premium seats that they say more people are starting
to buy. So that's the difference there. But yeah, they've been trying to like focus on that that more expensive travel experience.
I just booked the rub I just booked the rubis so pretty January. No, No, we did the like you know that the mets A, METSA, the middle the premiumconist.
The 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 Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.