Closing Bell: AMD Climbs, Warner Bros. Higher, Lockheed Martin Slumps

On this episode of Stock Movers:

 Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Alix Steel, Carol Massar and Tim Stenovec.

- AMD (AMD) shares jumps as much as 10% amid a broad rally in semiconductor stocks as Piper Sandler said products unveiled last week were positive and expects a "snapback" for the GPU business this year.

- Warner Bros. (WBD) shares rose on the word it won enough support from creditors to overhaul its debt as part of a plan to split into two separate companies, a significant victory for the entertainment giant as it tries to turn itself around. The company said last week that it’s dividing into two separate corporations, one focusing on streaming and movie studios, and the other on cable television channels. As part of that division, it said it’s looking to buy back some $14.6 billion of bonds, and to switch the terms on remaining debt to give it more flexibility to shift around assets in the future, among other changes.

- Lockheed Martin (LMT) shares slumped on the day after a report that its F-35 planes wouldn't be included in a rare earths deal between the US and China. After the closing bell, the defense firm named Craig Martell its new chief technology officer.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.

Speaker 2 (00:09):
This is the closing bell on the stock movers report
the company's making moves at the close of US trading
with Carol Master, Tim Stenobeck, Romain Bostik, and Scarlett Food.

Speaker 3 (00:22):
Let's get to some of the individual gainers in today's session.
There was a lot to choose from AMD. That's your
number one gainer in the Nasdaq one hundred, number two
gainer in the S and P five hundred, stock up
eight point eight percent. You really did see a broad
rally in the semiconductor space. But Piper Sandler said products
unveiled last week by AMD were positive and expects a
snapback for the GPU business in the company's fourth quarter.

(00:45):
You also had BNP Perryba come out an analysts. They're
saying in a call on AMD held with Friday with
analysts that they sent a reassuring message heading into results
next month with AI traction increasing for AMD's instinct GPUs. So,
so really a lot of optimism there when it comes
to a MD st latter next name for me, number

(01:06):
one gainer in the S and P five hundred, and
that stock up a just shy of eleven percent. So
pretty much closing at its best levels of the day.
China retail sales grew six point four percent last month.
That's the fastest pace is December of twenty twenty three
and exceeded all estimates. So those names like an SD
Lauder that have a big Chinese exposure really gaining today.

(01:27):
I should point out Nike, Starbucks Canada, Goose also gaining
in today's session. We also should point out that yesterday
some sad news from the St Laughter community. That is
that Leonard Lauder, which was one of the sons of st. Lauder,
the founder of the company, passing away a long time
obviously in terms of running and you know, strategy for

(01:49):
that company in particular. And then I just want to
mention WBD. I hope I gave the right ticker Warner
Brothers Discovery. Did I mess up?

Speaker 1 (01:56):
You messed up?

Speaker 3 (01:57):
I messed up. I've realized it. Yeah, yeah, but that's
not where I want to go. But anyway, WBD, Water
Brothers Discovery, that is your number two gainer. I believe
in the s and P. Five hundred forgive me Finley.
I messed up up seven point three percent Warner Brothers Discovery,
and that's after the company won support enough support from
creditors to overhaul its debt as part of a plan

(02:19):
to split the entertainment giment into two separate companies. I'm
so can I.

Speaker 1 (02:22):
Just add a honorable mention? Because when I just ran,
when I ran the most, when I ran the most function.
The number one gainer across all of the tapes was
some tiny biotech company, regen Cell, which I might be mispronouncing.
It was basically a penny stock about a month ago.
It's now trading at fifty nine bucks a year. It
had a big stock split today thirty eight for one.
It rallied as much as four hundred percent on the day.

(02:43):
This was a stock that had a market cap of
a few hundred million dollars just a few weeks ago
and now has a market cap of almost thirty billion
dollars today.

Speaker 3 (02:52):
What's the short position on that puppy? I haven't luckd but.

Speaker 2 (02:54):
I'm sure not now. Not now.

Speaker 4 (02:57):
Okay, let's get put out no profice, no revenue or
anything else to.

Speaker 3 (03:02):
Yeah, that's a good honorable mention, good honorable mention.

Speaker 4 (03:05):
Romane Joman always says the good honorable mentions. Hey, let's
start with Lockheed Martins in terms of decliners today, down
four percent. This news just breaking after and it's not
the reason why it's lower. Lockheed Martin did name a
new chief technology officer that just crossing moments ago we
did see US defense stocks erase earlier session gains that
we saw today. This after we heard from the President

(03:26):
who said heron wants to talk about de escalating the
conflict with Israel. North Grumman and El three Harris Technologies
also fell in terms of defense stocks today. Lockheed Martin,
though the worst performer on a percentage basis in the
S and P five hundred, also moving lower today. Energy
names among the worst performing sectors in the S and
P five hundred Diamondback Energy down two and a half percent.

(03:48):
Energy companies also falling with oil prices on expectations there
would be less disruption to oil supplies. Diamondback Energy the
worst performing energy name in the S and P five hundred,
and then a bioteme name that fell a lot today,
Serepta Therapeutics, down forty two percent. The company's gene therapy
for a real rare muscle disorder has been linked to

(04:09):
the death of a fifteen year old boy it's the
second patient to die of acute liver failure well being
treated with the therapy. Shares fel today by forty two percent.

Speaker 5 (04:19):
Well on that note, thanks him, I guess I'll go
to yields. So there was a selloff in the bond market,
pretty much all across the curve of the back end
getting hit the hardest. That yields up by about six
to five bases points. Twenty year auction went off without
a hitch. But just so interesting when you have these
kind of headlines and you're still seeing selling in the
treasury market. Same with the dollar, just raises the question,
at least for me, like where do bonds and the

(04:41):
dollar fit as a safe haven asset in your portfolio.
I know we're all taking a breadth after Friday, but
there are still so many risks out there, and yes
they're hard to price, but at least we know that
they come from Aron in Israel right now, and yet
still we're not necessarily one hundred percent pricing that in
at all.

Speaker 2 (04:58):
This stock mover's report from Bloomberg Radio. Check back with
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