00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic here with Katie Greifel taking you through to that closing bell.
00:06It's a global simulcast.
00:08Carol Masser and Tim Senevic join us now.
00:10Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:14our partnership with YouTube coming off what Wednesday was a fast and furious day for earnings.
00:20We get more earnings today.
00:21Remember, yesterday we heard, Carol, from the fifth, the fourth,
00:24and the third largest weightings in the S&P 500.
00:27Today we get the second, and that's Apple.
00:28Yeah, yes, indeed.
00:29Looking at the stock, it's been up as much as 2.2% today.
00:32It's just up about a quarter of a percent.
00:34Most of the Mag 7 we've seen lower in today's session, but one of the few.
00:39What?
00:40Romain wants to know if you own an iPhone.
00:42And I have to imagine that you do.
00:44Of course I do.
00:45It's right here.
00:46Of course I do, she says.
00:47Might I show you?
00:48We're an Apple household.
00:50TV, music, watches, although my watch is old.
00:53My husband keeps pushing me, like, don't you want the, go get a new watch.
00:56I'm like, I haven't decided yet.
00:57Yeah, well, maybe you should go in for your birthday.
01:00Okay, that was a yes or no question.
01:02We've got a lot more than we bargained for.
01:03So, Apple's going to be important.
01:06I think there are some folks out there, observers, who say the numbers are a part of the story
01:13here after the Belkadi, but also, you know, what's the transition going to look like for
01:18Tim Cook going to John Ternus.
01:20Anurag Rana, who we just spoke to, said, yeah, yeah, yeah, that's fine.
01:23I want to know margins.
01:24Yeah.
01:25Fair enough.
01:25Good for him.
01:26I agree.
01:27There are folks who would like to know what a John Ternus-led Apple looks like.
01:31He said, look, this guy's been at the company for years.
01:35So, it's not an outsider.
01:37Yeah.
01:37Well, for those that do care here, the expectations, at least as far as the Bloomberg consensus
01:41for analyst estimates, looking at $110 billion in revenue for the quarter.
01:49And more importantly, this one, of course, for Anurag, gross margins, projected to come
01:53in at about $53.2 billion.
01:55We get the closing bells here in New York on the penultimate day of the week, but the final
01:59trading day for the month of April.
02:01And it is a record high for the S&P 500, 7209, up 73 points or 1% on the
02:07day, closing out a
02:0810% run for the month of April.
02:09The NASDAQ Composite and NASDAQ 100, each up about a percent on the day, also at record highs,
02:15each up about 15 to 16% for the month of April.
02:18And the Russell 2000, getting in and on the action as well.
02:21It's only going to add, what is that?
02:23I can't read that, about 2%.
02:24Is that what it says?
02:252% here on the day here.
02:28And that's going to be good enough here for a 12% gain on the month.
02:31Wow.
02:31What a month.
02:32Unbelievable.
02:33I'm going to go back to the day, if I may.
02:35Katie, you've got 380 names in the S&P 500, higher for the session, 120 to the downside,
02:41three unchanged.
02:42If you take a look at the circle, it is fascinating today because you have all of the screen on
02:47the
02:47screen and then you take a look at information technology as a sector was actually lower by
02:53about six tenths of a percent.
02:55What a tug of war was going on in that slice of the pie because you had Broadcom, AMD, Qualcomm,
03:00Apple, et cetera, really trying to push the sector higher.
03:03But then on the downside, NVIDIA and Microsoft, just too big to overcome Oracle as well, Carol.
03:11Definitely a really interesting sector performance today.
03:15All right, guys, we've got some earnings crossing the Bloomberg.
03:17Let's go to Rivian out with its numbers.
03:19First quarter production, 10,236 vehicles.
03:24That's a little bit light.
03:25The street was looking for a number more like 10,311.
03:28First quarter cash and cash equivalents, that too is below what the street was forecasting.
03:34What the actual number was, $2.85 billion.
03:38Street was looking, guys, for more like 3.6 billion.
03:41Right now the stock just down a hair, down about three tenths of a percent.
03:45All right, as we await for more earnings, let's go to some of the top gainers around the markets today.
03:50Qualcomm, a top gainer in the S&P and the NASDAQ 100.
03:53We got those earnings late yesterday, and that stock was up 15% in today's session, up the most in
03:59seven years.
04:00I believe that's at the close and intraday as well.
04:03Rallying after the company said it was making headway in the lucrative data center market,
04:06and it also predicted that the China phone industry would bounce back.
04:10This top, I should say, a top hyperscaler on track to begin using Qualcomm's components later this year,
04:18and the company has become more optimistic about the market, seeing AI data centers as a major source of potential
04:23growth.
04:24We've got some more earnings remaining.
04:25Yeah, let's get to Roku.
04:26The share is up about 10% in the after-hours trade.
04:29Revenue in the most recent quarter, coming in relatively in line with estimates at about $1.25 billion.
04:34But the guidance for the next quarter, here you go.
04:37Net revenue for the second quarter, $1.3 billion.
04:39The street was looking for $1.29.
04:41So kind of just on the nose there.
04:43Gross profit, though, is coming in slightly above estimates.
04:45The company anticipating $580 million for the second quarter.
04:49The street was looking for $568.
04:51A similar story for adjusted EBITDA here.
04:54And here's your full-year revenue outlook.
04:55The company says expect about $5.5 billion in revenue for the full year.
05:00That's pretty much on the nose of what the street was looking for for the year as well.
05:06Meanwhile, let's take a quick look at Rivian again.
05:09They just reported earnings.
05:10They're also coming out and saying their first quarter revenue came in at $1.38 billion.
05:15That is just below the estimate of about $1.39 billion.
05:20First quarter, vehicles delivered coming in at $10,365.
05:24That is actually a little bit better than the estimate for about $10,279.
05:30You can see that the share is lower by about 1.1%.
05:33And I mean, Rivian overall, Carol, has been a really rocky story.
05:37Yeah, absolutely.
05:38Just bringing it up on my Bloomberg, stock's down about 16%, 17% year-to-date.
05:42But as you said, the story much more tricky.
05:44All right, let's go back to some of the individual gainers.
05:46I mentioned Qualcomm, Alphabet, of course, parent of Google.
05:49Definitely an outperformer in today's session.
05:51Top of the NASDAQ 100, up about 10% in today's trade.
05:55We've been talking about it.
05:56I'm sure you guys have as well.
05:58This one, leading gains among the Mag7.
06:00After last night's deluge of big tech earnings from Alphabet, Amazon, Med, and Microsoft,
06:05the search giant reported high demand for its cloud and artificial intelligence products,
06:09which really was, you know, the key thing is that they're spending, yes, indeed,
06:13but they're also showing some return on investment.
06:14So you saw some outperformance there.
06:16And I just want to mention something different, Teradyne.
06:20Also, an interesting trade where the stock was down about 19% yesterday.
06:25Investors moving back in up about 12%, top in the S&P 500.
06:30Investors weighing in, analysts weighing in.
06:32Again, J.P. Morgan upgraded the semiconductor manufacturing company to overweight from neutral
06:37against the drop yesterday.
06:39There were some other upgrades and some price target raises as well.
06:43Teradyne did fall on some likely disappointing forecasts.
06:47That was what we got from the company.
06:49The sell-off, though, from J.P. Morgan offers materially higher upside for the shares
06:55and a largely unchanged revenue trajectory in our expectations,
06:58with moderation in revenues in the second half only reflective of the timing of programs and purchases
07:03rather than changing the long-term growth trajectory.
07:05Basically, some upbeat thoughts, and you saw investors coming back.
07:09Tim, over to you.
07:10Okay.
07:10I'm looking at shares of IMAX in the after hours right now.
07:13First quarter revenue coming in above estimates at $81.4 million.
07:17First quarter adjusted EBITDA coming in just below estimates at $30.5 million.
07:21First quarter adjusted earnings per share coming in just above estimates at $0.17 per share.
07:27First quarter adjusted earnings per share did beat estimates.
07:31Terms of stock is unchanged in the after hours.
07:35That's IMAX for you.
07:36Hang on, guys.
07:37Can we go?
07:37I just want to take a quick look here.
07:38Western Digital is actually just crossing the wire.
07:40Remember, this is the third best performing stock in the S&P 500, up more than 150%.
07:45The share is now down in the after hours trade.
07:47After the company reported net revenue, that's relatively in line with estimates at about $3.34 billion.
07:53The street was looking for $3.23.
07:55But the company does say for the current quarter, the fiscal fourth quarter,
07:59operating expenses will be a nudge higher, $385 to $395 million.
08:03And it does say, though, that gross margin will be in a range of 51 to 52%.
08:07Not quite sure of the comparison there, but it does look like the street was guiding just a touch below
08:13that here.
08:14So that looks like that could be a beat.
08:15But you see the negative reaction there in the shares for the third best performing stock in the S&P
08:19this year.
08:20All right, let's go on over to Roblox, also coming out with its numbers.
08:23Let's get to the forecast.
08:25The company sees fiscal year revenue of $5.87 billion to $6.14 billion.
08:30It had seen $6.02 billion to $6.29 billion.
08:34So interesting in terms of the range there.
08:36Sees fiscal year bookings $7.33 billion to $7.6 billion.
08:40It had seen a number way above that at $8.28 billion to $8.55 billion.
08:45You can see Roblox getting killed in the aftermarket, down about 20% here.
08:50Also sees second quarter bookings, as we mentioned, $1.55 billion to $1.61.
08:56The estimate was above that at almost $1.9.
08:59First quarter daily active users, $132 million, folks.
09:02That is also light.
09:04$143.8 million was what the street was looking for.
09:06Again, Katie, that's stocked down about 22% aftermarket.
09:09All right, let's get on over to Reddit reporting right now.
09:12Second quarter adjusted EBITDA.
09:14The forecast beating estimates here.
09:16They see that number coming in for the second quarter between $285 million to $295 million.
09:23The estimate had been for $275.5 million.
09:28So you can see that a little bit of a beat there.
09:31When it comes to the look behind, though, first quarter daily active users coming in at 126.8 million users.
09:44That is slightly above of the estimates there.
09:47But you can see that the stock taking a little bit of a dip lower right now, currently lower by
09:51about 2%.
09:52All right, I'm going to Atlassian, ticker T-E-A-M.
09:56Shares are surging in the after hours.
09:59This after the company up 12.2%.
10:02The company reported third quarter revenue that beat estimates.
10:04As far as the outlook goes, fourth quarter revenue, $1.65 to $1.66 billion.
10:10The estimate was for $1.66 billion.
10:13They beat on earnings.
10:14They beat on revenue.
10:15Let's look at third quarter revenue, $1.79 billion.
10:19The estimate was for $1.69 billion.
10:21Third quarter adjusted EPS came in above estimates at $1.75.
10:26Third quarter cloud revenue came in above estimates at $1.13 billion.
10:30And it's that operating margin at 34%, where the estimate was for 27.6%.
10:34That also helping shares in the after hours up.
10:37Let's call that 12%.
10:38All right, so that one is going higher at Atlassian.
10:41Sandus going in the other direction after posting its third quarter results.
10:44The company sees fourth quarter revenue, so this is the outlook, sees fourth quarter revenue
10:49of $7.75 billion to $8.25 billion.
10:52That seems to be a big beat here.
10:55Just looking to see if there's any other headlines here just starting to trickle out.
11:00And it does look like third quarter revenue.
11:01That did beat the average analyst estimate.
11:04So we'll keep an eye on that one, but definitely some movement.
11:07So we'll keep an eye on that one.
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