00:00And right now we are two minutes away from the end of the trading day.
00:04Romain Bostic here with Isabel Lee in today for Katie Greifeld.
00:07We're taking you through to that closing bell.
00:09It's a global simulcast.
00:10Carol Masser and Tim Senevec join us now.
00:12Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:16our partnership with YouTube.
00:18Day two here of the rebound rally.
00:20Carol Masser, though, a little bit fractionally different than what we saw yesterday.
00:24Yeah, I do feel like it's limping along a little bit here.
00:26We are near our worst levels of the session, even though if we're seeing a lot of green
00:30on the screen, courtesy of St. Paddy's Day, perhaps.
00:32But having said that, I am really curious what the Fed has to say tomorrow when we get that.
00:37Did you go out to the parade today?
00:38I did not.
00:39Although, can I just tell you, we have been so wacky that our team put in our chat the
00:45poster for Dumb and Dumber.
00:47I think that's what they were calling us.
00:49That's what that's what they were doing.
00:51That's OK.
00:51I'm just we wear it.
00:52We wear the badge with pride.
00:53Yeah, we do.
00:54You know, it's interesting to see what's happening with Bitcoin and what has been happening with
00:58Bitcoin over the last couple of weeks.
00:59Well, the S&P 500 is down about 2 percent since the start of the war.
01:03Isabel, Bitcoin is up about 13 percent.
01:05It cracked through the $75,000 per Bitcoin ceiling yesterday.
01:11I don't know what it says.
01:12Maybe, you know, folks are thinking this could be a return to a safe haven play.
01:16But how much are we down in the year?
01:18Yeah, it's still down about 15 percent so far this year.
01:21He does do a crypto show.
01:22Yeah.
01:23Tuesdays, I talk crypto.
01:24Talk in his book.
01:25What can I tell you?
01:26Oh, it is Tuesday.
01:27So no crypto tomorrow?
01:29No, we had it already today.
01:30Come on in here, Isabel.
01:31The animal spirits is really there because the market's willingness to trade higher in
01:35the face of oil prices really just reflects the strong demand when it comes to stocks and
01:39maybe expectations for strong earnings down the line.
01:42And I guess economic growth as well.
01:43All right.
01:44We get the closing bells here in New York.
01:45Now, we should point out here the volume is light.
01:48In fact, it's actually been dropping the last couple of sessions here.
01:51In fact, we're down roughly about 12 percent from where we were in yesterday's session.
01:55The gains also a lot more limited than what we saw yesterday.
01:58Fractional gains across the board.
02:00It is green across the screen with the Dow up about 47 points or a tenth of a percent.
02:04The S&P up 17 points or a quarter of a percent.
02:07The Nasdaq composite up about 100 points or a half a percent.
02:10And the Russell 2000, that's your relative outperformer, Carol Masser, adding about 17 points
02:15or seven tenths of one percent.
02:17All right.
02:18Certainly interesting there.
02:19All right.
02:19Let's go back to the S&P, the big caps, if I may.
02:22And you do have most names in the S&P 500.
02:25Isabel, higher today.
02:26314 names actually gaining ground on this Tuesday.
02:30185 to the downside and four unchanged.
02:32You see that reflected in sector performance.
02:34The winners is obviously they're overpowering the losers.
02:37You have the financials up by eight tenths of one percent.
02:39Energy, not a surprise, up by six tenths of one percent.
02:42And communication services also in degree.
02:44And let's say some losers.
02:45We have consumer staples down by just a tenth of one percent.
02:49Materials and health care also just slightly lower, but also nearly just two tenths of one percent.
02:54All right, guys.
02:54Let's go to some of the individual gainers.
02:56Taking a look at Uber and Lyft, both higher in today's session.
03:00Uber up about 4.2 percent.
03:01Lyft, again, about 3.8 percent.
03:03And both of them rising as the ride share firms and NVIDIA announced separate autonomous vehicle partnerships.
03:09RBC Capital Markets weighing in, noting the two.
03:12Uber and NVIDIA expanded their partnership.
03:15And they're saying that Lyfts pack focuses on the company adopting their NVIDIA's accelerated computing capabilities, building a next generation
03:23mapping platform.
03:25Both of the announcements reinforcing RBC's view that the ride-hailing companies will have a durable moat when bringing together
03:31many A-V providers for optimized utilization on a platform that runs a complex combination.
03:38Who wrote your script here?
03:40Is that a PR guy or something?
03:41What's happening?
03:43It's like a press release.
03:45It's like a LinkedIn page to come to life here.
03:47Anyway, Uber is going to launch a global fleet of NVIDIA software-driven autonomous vehicles across 28 cities globally by
03:542028.
03:54Let's move on, shall we?
03:56All right, let's talk about it.
03:57You've ridden in one of those things, Tim.
03:58Oh, yeah.
03:59Those things are great.
04:00Have you not done a Waymo yet?
04:01Yeah, I did one.
04:02Oh, okay.
04:02Yeah.
04:03Have you, Isabel?
04:04No, I think I'll stick to a car during by a human.
04:07No, you won't.
04:08You will love it.
04:08You'll love it.
04:09No going back.
04:10Truly.
04:10Just telling you.
04:12All right, let's get to airlines real quickly.
04:14S&P Airlines, supercomposite airlines.
04:17Industry index up about 4.1% today.
04:21We really have seen the airlines come out and talking about strong booking trends as travelers are buying tickets before
04:27rising fuel costs, increased fares.
04:29Delta also offering an encouraging signal about the strength of the economy after raising its forecast for revenue for the
04:35first three months of 2026.
04:37It said it's seen demand to fly accelerate into March from both businesses and households.
04:42American Airlines also up after saying it's also likely to report stronger growth in revenue for the start of the
04:47year than it had forecast earlier.
04:49So take a look, guys.
04:50We're looking at Delta up about 6.5%.
04:53This is like the ultimate hedge, right?
04:55That if you can afford it, because you're going to pay more for tickets.
04:58Do you just buy, like, the airline stocks as a hedge to sort of offset how much they're going to
05:02gouge us over the next few months?
05:05Am I allowed to say that?
05:06Well, you already did.
05:08Move it along.
05:09Move it along.
05:10All right.
05:10Let's talk a little bit about some of the prominent decliners today.
05:14One of the worst performers on a percentage basis in the S&P 500 today was Eli Lilly, ticker LLY.
05:20HSBC turned bearish on the stock.
05:22It said investor expectations for weight loss drugs are overinflated.
05:26Bankers, or analysts at the company, I should say, cut the drug maker to reduce and slash their price target
05:32on the stock to $850.
05:34Right now trading at $930.
05:37It said that Wall Street is too optimistic on Lilly.
05:39Shares fell today by close to 6%.
05:42Also, taking a look at NVIDIA on day two of GTC, that's NVIDIA's developer conference taking place in San Jose,
05:48California.
05:49Jensen Wong said that trillion-dollar projection that we talked about yesterday, that was for AI chip sales, and it
05:54doesn't capture other product offerings, even though that is the majority of the company's business.
06:00He expressed strong confidence of $1 trillion-plus in business that the company expects to close, book, and to ship.
06:07The company plans to shift more of its cash for investor returns, such as buybacks and dividends, during the second
06:12half of the year.
06:13Shares of NVIDIA fell today by about seven-tenths of one percent.
06:16And then Nebius Group, look at this.
06:19Nebius Group, this has been on a tear this year, down 10.4 percent.
06:24This, after the company said it intends to raise about $3.75 billion in convertible debt to use for its
06:30data center expansion and to purchase customized chips.
06:34Nebius Group, the stock closed up 15 percent yesterday.
06:38That gave the company a market value of roughly $33 billion.
06:42This is one of the neocloud providers.
06:44Yeah, interesting.
06:45And we got us just checking on yields.
06:47Not a whole lot going on there.
06:49In fact, a bit of calm in the Treasury space here.
06:52You saw yields just slightly lower across the board, at least on the longer end of the curve, down by
06:56one to two basis points.
06:57Of course, the Fed kicking off its two-day policy meeting earlier today.
07:01The Fed decides that decision, 2 p.m., Washington time, tomorrow.
07:05All right, guys, let's get to DocuSign.
07:06Just crossing the Bloomberg terminal, popping up about five.
07:09It's bouncing around, but it's definitely rallying here in the aftermarket.
07:12All right, their earnings just crossing the Bloomberg.
07:14Let's get to it.
07:15Fourth quarter revenue, it is a beat, $836.9 million.
07:19The street estimate, $828.2 million.
07:22Fourth quarter subscription revenue also coming in better than what the street was expecting, $819 million.
07:29Versus a street estimate of $810.4 million.
07:32DocuSign announcing a $2 billion increase to its share repurchase program.
07:37And then let's go to fourth quarter adjusted EPS.
07:40That, too, came in six cents better than what the street was expecting at remain $1.01 a share.
07:46Yeah, and this, of course, is one of those stocks that kind of got battered around.
07:49I think it was down something like 30% this year coming into today because of some of the concerns
07:53about disruption in the AI space here.
07:56So it's interesting to see here if they are finally, at least in the eyes of investors, back on track.
08:01Tim?
08:01Well, speaking of back on track, Lululemon, that's what investors want to see when it comes to Lululemon.
08:07And then after Calvin McDonald stepped aside earlier, shares down by about 1.7%, now higher by just about half
08:14a percentage point.
08:15Fourth quarter earnings per share did beat estimates.
08:18In terms of numbers, fourth quarter EPS coming in at $5.01.
08:23That beat estimates of $4.78.
08:25Fourth quarter net revenue coming in above estimates at $3.64 billion.
08:30Gross margin for the fourth quarter barely beat revenues, 54.9%.
08:34Fourth quarter international comp sales excluding FX was up 16%.
08:39That beat estimates in America's comp sales excluded FX.
08:42That was down 2%, but the estimate was for down more than 4%.
08:45As far as the outlook, here are the numbers.
08:47The company sees fiscal year net revenue $11.35 to $11.5 billion.
08:51The estimate was for $11.5 billion.
08:54So it's the upper range of the forecast did reach that estimate.
08:57Lululemon shares down about one half of 1% in the after hours.
09:02Oh, the company also sees fiscal year EPS 12, 10 to 12.30.
09:06The estimate was for above that $12.59.
09:09So a miss there.
09:10Shares down about half a percent.
09:12That's what I wanted to mention, too.
09:12It looks like Chip Berg, the former CEO over at Levi Strauss, is going to be joining the board, effective
09:19immediately here.
09:20So that could be intriguing, particularly when we talk about the idea that we have two co-interim co-CEOs
09:26running this company right now,
09:27and a lot of speculation as to when we might hear an announcement about a permanent CEO.
09:34Speculation, Tim.
09:35Yeah.
09:36But it's what everybody cares about, right, when it comes to this company and the way forward.
09:40So we'll see.
09:41I've kind of been just looking at the press release to see if there's anything more on that.
09:45Nothing?
09:45Not so far.
09:46That speed reading class is apparently not paying off.
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