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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 Valerie Titel and Valerie As. If we needed more signs that the AI trade still has legs, how about these results from Taiwan's Semiconductor.
Good morning, Hey, good morning, Let's talk about the AI tread yet again. Huh it doesn't stop TSMC out of the beat. This morning, the world's largest chip manufacturer hiked its twenty twenty five revenue projection for the second time this year to the mid thirty percent range.
It was all boosted by AI chip demand.
TSMC also reported a thirty nine percent surgeon profit and just shy of fifteen billion dollars in net income for the quarter. The shares are rising one point six percent, the eighty listed in the US art in pre market trading higher, also lifting the broader a tech space to Navidia up one point three percent. Off the back of this, the CEO of TSMC is saying they are a speeding up US capacity expansion, and also noted their conviction in the AI mega trend is strengthening.
And we also got earnings this morning outside AI from United Airlines. This looks like a pretty positive story.
You know, it did look like a pretty positive story to me too.
But the shares are trading lower this morning.
United air is dropping one point three percent in pre market. They did report resilient demand fueled by its premium passenger class, and the airline forecasted adjusted earnings per share that was decently above estimates. However, some analysts reporting to the fact that operating revenue for the quarter fell just shy of street expectations, and Bloomberg Intelligence notes their sign of saturation, especially when it comes to the premium seats.
That it sells.
But look, the airline industry has done decently well since the Delta beat last Wednesday. So you could also just tag the fact that United Airline is up some ten percent in the last ten sessions.
Okay, so a modest decline in the pre market for United Airlines. But we got to talk about the biggest downside mover this morning, what is going on with Hewlett Packard Enterprise.
Some evidence of margin compression problems. Hewlett Packard Enterprises down nine point seven percent. This is the one of the world's largest makers of computing equipment. It issued a full year forecast for profit and cash flow that fell short of expectations, even though it did see to increase demand for high powered servers, which are used for AI workloads.
HP is dealing with tighter margins.
In part to building those servers, it takes expensive AI chips, and those have made the machines less profitable and the business margins shrinking slightly. So HPE suffering near ten percent declines this morning on the back of this disappointment.
Well, it looks like a much more positive earning story for another big tech names, sales Force, so.
This also has another AI theme through it.
They projected double digit revenue growth and also announced a buyback of seven billion dollars. The shares are trading higher, up five and a quarter percent, but the stock really has been battered this year.
It's down twenty nine percent year to date.
Investors have been concerned that Salesforce's customers are spending their budgets on other AI tools from startups rather than traditional vendors like Salesforce, but Today's guidance from the customer management software company could potentially ease some of those concerns, and that's why we're seeing the positive move in the market this morning.
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.