- 8 hours ago
Category
🗞
NewsTranscript
00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic alongside Katie Greifeld taking you through to that closing bell.
00:07It's a global simulcast.
00:08Carol Masser, Tim Stenevich, they join us now.
00:11Welcome to our audiences across all of our Bloomberg platforms, television, radio,
00:14our partnership with YouTube, with all of the major U.S. indices solidly in the green,
00:19the S&P up a percent, the NASDAQ indices.
00:22Carol Masser up about two.
00:23Yeah, thank you, semiconductors.
00:25They go up, they go down, they go up, they go down.
00:27They go up today, more than 5%, every name, the 30 names in the Philadelphia Semiconductor Index,
00:3330 of them, they are all higher in today's session.
00:36Which one's your favorite?
00:37Oh, that's a good one.
00:38I like TSM.
00:39I like, you know me, I used to talk about the names in China.
00:44You know, I do.
00:46All right.
00:46I don't have a favorite.
00:48Also higher?
00:49But I do like TSMC.
00:50Also higher today is oil.
00:52Brent up $91 a barrel, up another $2.20.
00:57WTI up another $1.68, $85 roughly for WTI futures, Katie.
01:03You wouldn't know it from looking at the equity market.
01:06I know.
01:06We've been talking about that on the close, the sort of disconnect that we're seeing.
01:09You do see that a little bit when you take a look at the bond market, 10-year yields back
01:14above 4.60.
01:15It's going to be interesting to see how long we can sort of see that discordance among these asset classes.
01:21Yeah.
01:21And it gets to this idea of what type of dispersion we could potentially see in this earnings season because
01:26of all of the factors sort of at play,
01:28including some of the geopolitical factors that have driven a lot of concerns about inflation and whether that inflation persists.
01:35It's a relatively light.
01:36Our earnings afternoon here, we are expecting a couple out of the insurance company, Charles, as well as a credit
01:42card company, Capital One.
01:44Meanwhile, the closing bell in New York has greened across the screen for the most part,
01:48with the Dow Jones Industrial Average adding almost 400 points on the day, or about seven-tenths of one percent.
01:54The S&P 500 up about 66 points, or nine-tenths of one percent.
01:58The Nasdaq Composite up 1.3 percent.
02:00The Nasdaq 100 up 1.9.
02:03And the Russell 2000, the small caps, Carol Masser, adding about 45 points, or one-and-a-half percent.
02:08All right, Romain Bostic, I go back to the S&P 500.
02:11230 names gaining on this Tuesday.
02:13Katie got 271 to the downside and two unchanged.
02:16A lot of breath when it comes to the circle here, which measures the sectors.
02:22Nine sectors finishing in positive territory, led by information technology, higher by 2.4 percent.
02:29That is the big green slice on your screen there.
02:32Energy also having a great day, as we were talking about health care, to rising by about a six-tenths
02:38of a percent.
02:39Meanwhile, take a look at what didn't perform today, relatively small sectors within the weighting of the index.
02:45Consumer staples down by about one percent.
02:48Communication service is not too far behind, Carol.
02:50All right, so let's go to some individual gainers.
02:52Let's talk about SpaceX.
02:53At its high, up more than eight percent intraday today, but finishing with about a three percent gain here at
02:59the close on this Tuesday.
03:00Macquarie coming out saying, hey, the stock's pullback offers investors a compelling entry point to buy at a discount.
03:07Stock down almost 40 percent from its high on June 16th.
03:11That was after three days of trading from its IPO.
03:14Meantime, I just want to throw this story in, too.
03:16SpaceX has set the stage for one of the largest share unlocks in capital market history, with as much as
03:21$116 billion worth of stock becoming eligible for sale for the first time next month.
03:27That's on August 6th.
03:28That's two days after the company does its first quarterly earnings.
03:32So we'll be watching, but nonetheless, investors buying in today's session today.
03:37UTS brands.
03:38Let's go there.
03:39Interesting name here today.
03:40This one up 88 percent, almost 89 percent.
03:44Company agreed to be taken private in a $2.9 billion deal with Intersnack Group, giving Intersnack its first foothold
03:51in the U.S. market, acquiring all of UTS's Class 8 shares for $14.25 each.
03:58Stock closed at just a little bit over $14 a share today.
04:02Deal expected to close in the fourth quarter and will be financed by cash from Intersnack as well as a
04:07term loan and asset-based lending facilities.
04:10What's your favorite UTS product?
04:13Potato chips?
04:14Yeah.
04:15You mean versus pretzels?
04:16Yeah.
04:17They have so many different brands, including Tim's Cascade Snacks.
04:21Which one is your favorite?
04:22I like Tim's.
04:23Shocker.
04:24Simple.
04:25Simple.
04:26All right.
04:27General Motors, I just want to throw that into the mix, if I may.
04:30GM up almost 5 percent here at the close.
04:33This is after the company raised its full-year profit forecast by another $500 million after beating second-quarter earnings
04:39estimates, powered by stronger margins on its largest vehicles and lower tariff costs.
04:44They did lower, though, their expected net income by at least $1.5 billion to a range of $9.9
04:49billion to $11.4 billion due to electric vehicle-related charges.
04:53But they don't expect further large write-downs on EVs and batteries because they've all kind of written down a
04:58lot already.
04:59All right.
04:59Those are some gainers.
05:02Let's talk about some decliners today, including the worst performer in the S&P 500, Donaher Corp, down 11 percent
05:08today.
05:08This was its worst day going back to September of 1991.
05:12And at one point, it was the worst day since October 19th, 1987, which we all know.
05:18Where were you at 87?
05:19Yeah.
05:20I was in the tri-state area.
05:22Were you?
05:22Yeah, I was.
05:23Were you in college?
05:23That was Black Monday.
05:24I was not in college then.
05:28The company gave core revenue growth out guidance for the third quarter that fell short of the average
05:32analyst estimates.
05:33We also actually saw other life sciences stocks take a hit as a result of this report.
05:39Also, Charles Schwab fell today despite the fact that earnings topped estimates.
05:43Retail investors continue to jump in and out of the market.
05:46The volatility sparked by geopolitical uncertainty was a boon for the company.
05:50Shares fell by 2.5 percent.
05:52They were up for a portion of the day, then fell a little earlier this afternoon.
05:57We spoke to Rick Worcester, the president and CEO of Charles Schwab, a little earlier
06:00on our program.
06:01He said that the platform, the trading platform, saw three and a half times more volume on down
06:06days in the market, meaning the clients are buying the dip.
06:09He said geopolitical risk in the markets, they're more actively trading.
06:13He sees more frequent trading, but the size of the trades are often smaller.
06:18Interesting.
06:18Yeah.
06:19I listened to that interview.
06:20Sorry?
06:21I listened to that interview.
06:22Oh, thank you for tuning in.
06:23I did.
06:23Yeah.
06:24And you loved it, right?
06:25Hold on.
06:25You're like, and you were taking notes.
06:27Oh, that's how you do a good interview.
06:29Is that what happened?
06:30Yeah.
06:31I mean, you let him off the hook on a couple of questions there.
06:33Okay.
06:33But other than that, yeah, it was fine.
06:35Yeah.
06:35Thank you for your feedback.
06:36I'll get the manager for you.
06:37Where were you yesterday, by the way?
06:39Me?
06:39I was around.
06:40Yeah.
06:40I was around, but you didn't.
06:42You seem a year wiser, Roman, than you did yesterday.
06:47Was it your birthday yesterday?
06:48No.
06:49Oh.
06:49Hmm.
06:49Is it your birthday?
06:50It wasn't?
06:51No.
06:52I'm like Ben Benjamin Button.
06:53I just keep younger.
06:54Katie, is he lying?
06:54What else you got, Tim?
06:55Katie, is he lying?
06:56No.
06:56No comment.
06:57I don't want to blow up his spot.
06:59Oh, you anchor teams.
07:00Katie.
07:00You stick together.
07:01You only got a couple more days of this.
07:03So do you care about yields at all?
07:05I care a little bit about yields.
07:07What happens?
07:08Short-term yields up for a fourth straight session.
07:10In fact, now up about 13 basis points on the two-year yield over that stretch here as
07:14a lot of people now start to price back in some of the inflationary pressures and I
07:18guess the potential maybe that the Fed could raise rates.
07:21Obviously, there's a pretty direct correlation here between that rise in yield, the sell-off in
07:25the Treasury market, and what we're seeing with regards to the rebound, Carol, in oil prices.
07:28All right, quickly, Capital One Financial just crossing the Bloomberg term.
07:32Let's go to the numbers.
07:33Second quarter net revenue, folks, up 27% year-over-year, 15.9 billion net charge-offs,
07:403.6 billion.
07:41That's exactly what the street was forecasting.
07:44Second quarter adjusted EPS, $5.81 versus 5.48 year-over-year.
07:50And we're looking at the stock.
07:52Maybe we can bring it up here.
07:54Just real quickly, I'm going to bring it up here.
07:57I'm looking for it.
07:58It is up 1.1%.
08:01I also just want to bring in Supermicro here.
08:03It looks like they're just providing a bit of a business update, crossing the wire right
08:07now on their revenue for the fourth quarter, their fiscal fourth quarter.
08:11The company says it will be at the low end of their previous range of $11 to $12.5 billion.
08:17Basically, the low end of guidance gross margin will now be at 15% to 17%.
08:22That's versus previous guidance of 8.2% to 8.4%.
08:26So basically, revenue at the low end of the guidance for gross margin well above what they
08:30previously guided.
08:32And the company now saying that it's backlogged for the fourth quarter, hitting a record with
08:36new orders topping $60 billion.
08:37Of course, this is effectively a builder of data centers and effectively renting out the
08:42servers for other folks.
08:44As we know, of course, ran into some issues in the past with regard to some accounting issues
08:48and whether or not it can get itself back on track, you see the knee-jerk reaction in the
08:52after-hours trade up about 6%.
08:54Yeah, it's been a volatile stock, to say the least, in recent years.
08:57In 2023, up about 250%.
08:59It did rise today, along with all the chip stocks.
09:02It was up today about 7%.
09:04And it's adding to that in the after-hours, up about 6% in the after-hours.
09:09It's interesting to see this update coming from Supermicro.
09:12I mean, they were scheduled to report their earnings on August 5th.
09:16So not too far from now, but the company making the decision, I guess, to put some good news
09:21out there in the market.
09:22They did rise today with a lot of the other sort of chip AI names.
09:27But I will note that prior to that, they had closed out six straight days of losses on the
09:33stock, which had been their longest streak since March 2025.
09:36But as discussed, I mean, you take a look at that after-hours rally, now higher by more than
09:4111%.
09:41And we should point out, sorry to interrupt, I mean, just in regards to that share performance
09:45too, we talk about, go back to that last earnings report, what you did see about a pop in the
09:49shares of like a 25% rally that day.
09:52But by the time you got to the beginning of June, that began to sell off as a lot of
09:56those
09:56concerns set back in.
09:57Those shares heading into today were down, what, about 50% since the start of June?
10:02Yeah.
10:03Yeah, right.
10:03And down 13% year to date.
10:05But it doesn't reflect, certainly, the big pullback that we've seen.
10:07I should also point out, 19% of the float is short.
10:09So there's certainly that negative sentiment continuing.
10:12All right, folks, but it is up.
10:13Supermicro right now up about 13% in the aftermarket.
10:16Okay.
10:16Okay.
10:16Let's go.
Comments