Nvidia Sparks Tech Rally; Haley Endorses Trump

Bloomberg Audio Studios, podcasts, radio News. Good morning, I'm Nathan 0:00:12.160 --> 0:00:15.120 Hager and I'm Karen Moscow. Here are the stories we're 0:00:15.160 --> 0:00:15.960 following today. 0:00:16.160 --> 0:00:20.000 Get another blowout order from Nvidia, the chip maker at 0:00:20.000 --> 0:00:23.560 the center of the artificial intelligence boom, not only beat 0:00:23.600 --> 0:00:27.360 earnings estimates, it also gave a bullish sales forecast, showing 0:00:27.400 --> 0:00:32.640 AI computing spending remains strong. Chief Executive Officer Jensen Wang 0:00:32.800 --> 0:00:35.920 stoked excitement with talk of the dawning of a new era. 0:00:36.600 --> 0:00:41.479 The next Industrial Revolution has begun. Companies and countries are 0:00:41.520 --> 0:00:45.480 partnering with Nvidia to shift the trillion dollar installed base 0:00:45.600 --> 0:00:49.879 of traditional data centers to accelerated computing and build a 0:00:49.920 --> 0:00:53.360 new type of data center AI factories to produce a 0:00:53.479 --> 0:00:56.000 new commodity, artificial intelligence. 0:00:56.240 --> 0:00:59.880 Nvidia CEO Jensen Wang also announced a ten for one. 0:01:00.280 --> 0:01:03.960 Split, and Nathan that news is being cheered by investors, 0:01:04.040 --> 0:01:07.360 and Vidia shares are among the most actively traded this morning. 0:01:07.480 --> 0:01:10.880 Right now, they're trading above the thousand dollars level, up 0:01:10.920 --> 0:01:13.680 six and a half percent. Dan Morgan is an analyst 0:01:13.680 --> 0:01:14.720 with Sonovas Trust. 0:01:15.000 --> 0:01:18.440 The ten for one stocksport is absolutely huge because like 0:01:18.560 --> 0:01:21.200 Amazon and Google, and they both did twenty four one 0:01:21.200 --> 0:01:25.000 stock sports. It really allows the retail investor to participate 0:01:25.080 --> 0:01:27.480 more in terms of buying more shares, and it's a 0:01:27.480 --> 0:01:30.200 psychological thing, but it does boost the. 0:01:30.200 --> 0:01:31.759 Stock Sonova's trust. 0:01:31.800 --> 0:01:34.560 Dan Morgan also notes that in Vidia boosted its quarterly 0:01:34.600 --> 0:01:38.000 dividend by one hundred and fifty percent ten cents a share. 0:01:37.959 --> 0:01:41.240 And Karen the Nvidia rallies helping lift other companies associated 0:01:41.280 --> 0:01:44.720 with AI. Shares of super micro computer up about four percent, 0:01:44.840 --> 0:01:48.120 Dell is hired by about five percent, Advanced micro Devices 0:01:48.120 --> 0:01:49.840 with a gain of nearly three percent. 0:01:50.360 --> 0:01:52.480 Well, we turned to the economy now, Nathan, and the 0:01:52.480 --> 0:01:56.360 mantra higher for Longer has been reinforced. 0:01:55.640 --> 0:01:56.720 By FED officials. 0:01:56.800 --> 0:02:00.320 We get the very latest from Bloomberg's John Tucker John Karen. 0:02:00.400 --> 0:02:03.320 Minutes from the last FED meeting show the participants not 0:02:03.360 --> 0:02:06.840 only rallying around higher for Longer, but many question whether 0:02:06.880 --> 0:02:11.200 policy was restrictive enough. Various officials mentioned a willingness to 0:02:11.320 --> 0:02:15.560 tighten policy further if warranted. The FED policy makers pointed 0:02:15.639 --> 0:02:18.160 to the possibility of high indust rates having a smaller 0:02:18.200 --> 0:02:20.880 impact on the economy than in the past. They also 0:02:20.919 --> 0:02:23.600 said the long run neutral rate that's the level of 0:02:23.680 --> 0:02:27.239 rates that neither slows nor stimulates demand may be higher 0:02:27.280 --> 0:02:30.639 than previously thought. Since the Fed's last meeting, consumer price 0:02:30.720 --> 0:02:34.320 data has shown modest cooling, and while price growth remains 0:02:34.360 --> 0:02:37.920 above the Fed's goal, the latest figures alleviate some concern 0:02:38.000 --> 0:02:41.920 inflation is reaccelerating. John Tucker, Bloomberg Radio. 0:02:41.800 --> 0:02:43.960 All right, John, thank you know. The Biden administration is 0:02:44.000 --> 0:02:46.959 touting its independence from the FED. In a blog post, 0:02:46.960 --> 0:02:50.240 White House economist cited research and historical data to make 0:02:50.240 --> 0:02:54.040 the case that central bank's independence bolsters their credibility with 0:02:54.120 --> 0:02:57.320 the public. The move comes amid heightened speculation over how 0:02:57.440 --> 0:03:00.280 Donald Trump could ramp up pressure on the FED if 0:03:00.280 --> 0:03:01.960 he wins another term in the White House. 0:03:02.320 --> 0:03:04.680 Well, sticking with the Washington Nathan, we could see another 0:03:04.800 --> 0:03:08.760 vote on immigration policy in the Senate today. Bloomberg's Ed 0:03:08.800 --> 0:03:09.919 Baxter has the story. 0:03:10.400 --> 0:03:13.080 Son of Majority Leader Chuck Schumer says he'll bring the 0:03:13.120 --> 0:03:16.040 one House Speaker Mike Johnson refused to bring to the floor. 0:03:16.240 --> 0:03:19.480 Will both sides come together to advance a bipartisan border 0:03:19.520 --> 0:03:20.280 security bill? 0:03:20.720 --> 0:03:23.359 All partisanship getting the way once again. 0:03:23.600 --> 0:03:27.079 But a Republican Tom Tillo says Schumer may have miscalculated 0:03:27.120 --> 0:03:27.760 the situation. 0:03:27.960 --> 0:03:31.639 There were already no votes in his conference, So I mean, 0:03:31.680 --> 0:03:34.440 it's just going to demonstrate that there was no path. 0:03:35.480 --> 0:03:37.320 He knows that it's not going to go anywhere in 0:03:37.360 --> 0:03:37.840 the House. 0:03:37.960 --> 0:03:41.880 In any case, it is scheduled for today, Ed Baxter, 0:03:41.920 --> 0:03:42.760 Bloomberg Radio. 0:03:42.880 --> 0:03:44.720 All right, Ed, thank you. We have another big political 0:03:44.720 --> 0:03:48.640 story already developing. Former President Trump's last remaining rival in 0:03:48.640 --> 0:03:53.000 the Republican presidential race is now his latest supporter, Nicki Haley, 0:03:53.080 --> 0:03:56.480 says she will vote for Trump in November. Bloomberg Zamy 0:03:56.560 --> 0:03:57.920 Morris reports from Washington. 0:03:58.360 --> 0:04:01.600 Haley, who challenged Donald Trump for the Republican nomination, is 0:04:01.640 --> 0:04:04.040 the latest critic of the former president to back his 0:04:04.160 --> 0:04:06.400 White House bid. As she told a gathering at the 0:04:06.440 --> 0:04:08.640 Hudson Institute in Washington. 0:04:08.520 --> 0:04:12.000 Trump has not been perfect on these policies. I've made 0:04:12.040 --> 0:04:17.640 that clear many many times. But Biden has been a catastrophe. 0:04:19.000 --> 0:04:21.200 So I will be voting for Trump. 0:04:21.400 --> 0:04:24.400 Haley's endorsement of Trump is the latest sign of his 0:04:24.640 --> 0:04:28.080 near total grip over the Republican Party. President Biden has 0:04:28.160 --> 0:04:32.120 openly courted Haley's supporters to back his campaign in Washington. 0:04:32.160 --> 0:04:33.479 Amy Morris Bloomberg radio. 0:04:33.720 --> 0:04:36.320 All right, Amy, thanks, We'll be turned to politics overseas 0:04:36.440 --> 0:04:39.160 now and there'll be a national election in the UK. 0:04:39.240 --> 0:04:42.480 On July fourth, Prime Minister rishi's Sunat called for one 0:04:42.520 --> 0:04:45.400 as his Conservative party faces the biggest challenge to its 0:04:45.440 --> 0:04:49.000 fourteen year rule. In a statement outside Number ten Downing Street, 0:04:49.080 --> 0:04:53.600 Sunak said the country needs clear leadership these uncertain times. 0:04:53.800 --> 0:04:56.839 Cool for a clear plant. I'm bold action to chant 0:04:56.880 --> 0:04:59.640 a cause to a secure future. You must choose in 0:04:59.680 --> 0:05:03.240 this who has that plan, who is prepared to take 0:05:03.279 --> 0:05:06.800 the bald action necessary to secure a better future for 0:05:06.880 --> 0:05:08.719 our country and our children. 0:05:09.080 --> 0:05:12.200 Rishi Sunak has seen support for his center right party 0:05:12.279 --> 0:05:16.600 dwindle steadily. Meanwhile, Labor leader Kir Starmer kicked off his 0:05:16.640 --> 0:05:19.400 own campaign, saying his party can put an end to 0:05:19.480 --> 0:05:20.400 recent turmoil. 0:05:20.839 --> 0:05:21.880 On the fourth of July. 0:05:21.960 --> 0:05:25.640 You have the choice and together we can start the chaos. 0:05:25.839 --> 0:05:27.120 We can turn the page. 0:05:27.480 --> 0:05:31.080 We can start to rebuild Britain and change our country. 0:05:31.520 --> 0:05:35.039 Kier Starmer's shadow Chancellor, says the Labor Party will campaign 0:05:35.080 --> 0:05:38.560 and the economy, arguing that recent high inflation and lackluster 0:05:38.720 --> 0:05:41.240 growth are the product of a conservative government. 0:05:41.400 --> 0:05:43.480 Well back here in the US, Karen the next anti 0:05:43.600 --> 0:05:46.120 trust fight could be coming at the will call window. 0:05:46.160 --> 0:05:48.719 Bloomberg News has learned the Justice Department is joining with 0:05:48.760 --> 0:05:52.240 a group of states to sue Live Nation Entertainment. More 0:05:52.279 --> 0:05:53.640 from Bloomberg's Doug Krisner. 0:05:54.120 --> 0:05:58.000 The violations are related to Ticketmaster's unrivaled control of concert 0:05:58.080 --> 0:06:00.920 ticket sales. We are told to suit will seek remedies, 0:06:00.920 --> 0:06:04.960 including breaking up Live Nation. Live Nation is the largest 0:06:05.040 --> 0:06:08.920 US concert promoter. It merged with Ticketmaster back in twenty ten. 0:06:09.240 --> 0:06:11.479 At that time, the DOJ allowed the deal to move 0:06:11.520 --> 0:06:15.640 forward when Live Nation promised not to retaliate against concert 0:06:15.720 --> 0:06:20.080 venues that opted against using Ticketmaster. Years later, the DOJ 0:06:20.279 --> 0:06:24.359 found Live Nation had repeatedly violated that promise, so the 0:06:24.400 --> 0:06:28.960 DOJ imposed an external monitor to investigate further allegations. In 0:06:28.960 --> 0:06:30.920 New York, I'm Doug Prisner, Bloomberg. 0:06:30.560 --> 0:06:33.120 Radio, all Right, doke thanks. Shares of Live Nation down 0:06:33.160 --> 0:06:35.800 more than seven percent in early trading. On the flip side, 0:06:35.839 --> 0:06:38.599 du Pont shares up more than three percent. DuPont plans 0:06:38.640 --> 0:06:41.640 to split into three publicly traded companies. It joins a 0:06:41.680 --> 0:06:45.240 list of industrial conglomerates seeking to boost returns by breaking 0:06:45.279 --> 0:06:51.720 into smaller, more focused businesses. And it's time now for 0:06:51.760 --> 0:06:53.440 a look at some of the other stories making news 0:06:53.440 --> 0:06:55.240 in New York and around the world. For that, we're 0:06:55.279 --> 0:06:58.200 joined by Bloomberg's Michael bar Michael, good morning. 0:06:58.000 --> 0:07:00.880 Good morning Karon. For the second time this week, Penn 0:07:00.920 --> 0:07:05.159 Station service was suspended because of fallen electrical wires. The 0:07:05.200 --> 0:07:08.560 down overhead power lines brought the evening commute home to 0:07:08.640 --> 0:07:12.120 a halt from many passengers laid yesterday. Both Amtrak and 0:07:12.320 --> 0:07:15.760 New Jersey Transit were operating very limited service out of 0:07:15.760 --> 0:07:19.920 Penn Station. Delays and cancelations could continue through this morning. 0:07:20.600 --> 0:07:24.520 Twenty people remained in intensive care in Bangkok more than 0:07:24.560 --> 0:07:28.600 twenty four hours after deadly turbulence hit a Singapore airline's 0:07:28.640 --> 0:07:31.680 flight and forced the plane into an emergency landing. One 0:07:31.720 --> 0:07:34.720 man was killed and dozens of other people were seriously 0:07:34.800 --> 0:07:38.640 hurt after the flight from London to Singapore suddenly hit turbulence. 0:07:39.080 --> 0:07:42.240 A workplace shooting in Pennsylvania left at least two people dead. 0:07:42.640 --> 0:07:47.160 It happened Wednesday at an industrial linen company just outside Philadelphia, 0:07:47.520 --> 0:07:50.960 when police say the suspect opened fire on co workers 0:07:51.000 --> 0:07:55.320 with a handgun. Frightened employees described the chaotic scene le so. 0:07:55.400 --> 0:07:57.480 You know, I turned around, he pulled a gun out 0:07:57.480 --> 0:07:59.040 of his pocket and point Blake Rays. 0:07:58.920 --> 0:07:59.280 Just like that. 0:08:00.000 --> 0:08:03.080 Inspect fled driving home just miles away, where he was 0:08:03.120 --> 0:08:06.280 pulled over and captured by authorities in front of his neighbors. 0:08:06.520 --> 0:08:10.640 The Biden administration has a quote deep concern about the 0:08:10.680 --> 0:08:14.000 closure of a key entry point for aid flowing into Gaza. 0:08:14.560 --> 0:08:18.200 Israeli forces pushed into the southern city of Rafa earlier 0:08:18.200 --> 0:08:21.960 this month, closing the crossing into Egypt. Secretary of State 0:08:22.000 --> 0:08:23.280 Antity Blincoln. 0:08:23.120 --> 0:08:23.720 Because of. 0:08:25.280 --> 0:08:29.760 Combat activities around near and around the gate, the environment 0:08:30.080 --> 0:08:33.720 for bringing the assistance in is really challenged. 0:08:33.559 --> 0:08:37.200 Secretary Blincoln. Health officials confirm a second person in the 0:08:37.320 --> 0:08:40.480 US has been infected with bird flu. The case was 0:08:40.520 --> 0:08:43.640 confirmed in a Michigan farm worker who had regular exposure 0:08:43.679 --> 0:08:48.200 to livestock infected bird flu. Michigan Health Department Chief Medical 0:08:48.240 --> 0:08:51.240 Executive doctor Natasha Bagdasarian, the. 0:08:51.320 --> 0:08:55.320 Risk to the general public remains low. We know that 0:08:55.360 --> 0:08:59.400 with our current understanding of H five influenza and H 0:08:59.480 --> 0:09:02.400 five influare ones are particularly in livestock, that there is 0:09:02.800 --> 0:09:05.760 the risk for sporadic human cases, and that's what we've 0:09:05.800 --> 0:09:06.640 seen at this time. 0:09:07.000 --> 0:09:10.360 Doctor Bagdasarian says the first case of human bird flew 0:09:10.480 --> 0:09:13.320 this year was confirmed in Texas and also linked to 0:09:13.400 --> 0:09:16.760 Candle Global News twenty four hours a day and whenever 0:09:16.840 --> 0:09:19.360 you wanted with the Bloomberg News. Now, I'm Michael Barr. This 0:09:19.440 --> 0:09:20.320 is Bloomberg Heroon. 0:09:20.679 --> 0:09:21.880 Hooray Michael Barr, thank you. 0:09:26.640 --> 0:09:29.040 It's time now for the Bloomberg Sports Update with John 0:09:29.080 --> 0:09:29.640 stash Hour. 0:09:29.760 --> 0:09:31.360 John, good morning, Good morning, Karon. 0:09:31.440 --> 0:09:34.880 Rangers and Panthers started an Eastern Conference final at the Garden. 0:09:34.920 --> 0:09:37.440 Actually rare in the Stanley Cup playoffs when the top 0:09:37.480 --> 0:09:40.200 two seeds the two division winners get this far. Florida 0:09:40.559 --> 0:09:42.920 got a first period goal for Matthew Kitchuck. The game 0:09:43.040 --> 0:09:45.800 stayed one nothing for the next thirty nine minutes. 0:09:47.040 --> 0:09:49.920 Counted a Rangers territory Sstorking Well out to play this one. 0:09:49.960 --> 0:09:52.400 David writes a for Hackey along the farboards for Hackey, 0:09:52.720 --> 0:09:56.480 come fo tip Hooker Reacher, they store Carniver Hagey center. 0:09:56.600 --> 0:09:59.480 It went off for Raacher and the Panthers have a 0:09:59.559 --> 0:10:02.439 tune up lead with three forty eight to play. 0:10:02.480 --> 0:10:05.719 On WQAM and Miami Panthers added empty nt A one, 0:10:05.760 --> 0:10:09.160 three nothing Sergei Babroski twenty three. Saints didn't face a 0:10:09.200 --> 0:10:11.800 single Rangers shot for a fourteen and a half minute 0:10:11.800 --> 0:10:14.800 stretch to the second period. Rangers, after winning their first 0:10:14.840 --> 0:10:17.199 seven playoff games, are one and three since in their 0:10:17.240 --> 0:10:19.840 last two at home, they've been outscored seven to one. 0:10:19.920 --> 0:10:23.000 Game two at MSG tomorrow night. The Devil's hired a 0:10:23.000 --> 0:10:26.679 new coach, Sheldon Keef. He just got fired in Toronto 0:10:26.840 --> 0:10:29.760 NBA West Finals Game one to Dallas. The MAVs got 0:10:29.760 --> 0:10:32.040 thirty three points from Luca don Since he had fifteen 0:10:32.080 --> 0:10:35.120 in the fourth quarter. Kyrie Irving scored thirty the MAVs 0:10:35.120 --> 0:10:37.920 one at Minnesota one O eight, one oh five. It's 0:10:37.960 --> 0:10:41.360 the East Tonight, Celtics Game two with Indiana. Boston won 0:10:41.440 --> 0:10:44.040 the opening. Yankees hosting Seattle after two losses to the 0:10:44.040 --> 0:10:47.439 Mariners Yanks one seven to three. Is won Soto homer 0:10:47.520 --> 0:10:50.079 twice and Aaron's Judge once, and both have now hit 0:10:50.320 --> 0:10:53.640 fourteen homers on the season. Series ends this afternoon. Mets 0:10:53.640 --> 0:10:56.320 are off started ten game homestan tomorrow. They just got 0:10:56.360 --> 0:10:59.400 swept in Cleveland. Met's had a three nothing sixt in league, 0:10:59.400 --> 0:11:02.040 lost six the three mets of six and fourteen in May, 0:11:02.280 --> 0:11:04.880 Phillies have the best fifty game start to any once. 0:11:04.920 --> 0:11:05.839 It's two thousand and one. 0:11:06.200 --> 0:11:07.920 John Stashewer Bloomberg. 0:11:07.480 --> 0:11:14.760 Sports Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:14.840 --> 0:11:17.760 and around the world on Bloomberg dot Com and the 0:11:17.800 --> 0:11:21.199 Bloomberg Business app. This is Bloomberg Daybreak. 0:11:21.520 --> 0:11:25.800 Good morning, I'm Nathan Hager. Nvidia delivered for the fifth 0:11:25.920 --> 0:11:28.040 quarter in a row. The chip maker at the center 0:11:28.200 --> 0:11:32.000 of the artificial intelligence boom came through with an earnings beat, 0:11:32.040 --> 0:11:34.640 a forecast for even further growth, and to top it 0:11:34.679 --> 0:11:38.120 all off, ten for one stock split. So let's get 0:11:38.160 --> 0:11:39.240 more on these results. 0:11:39.280 --> 0:11:39.439 Now. 0:11:39.440 --> 0:11:42.320 We are joined by Matthew Bryson, Senior vice president of 0:11:42.360 --> 0:11:46.440 Equity Research at Webbush Securities. Matthew, good morning. I'm going 0:11:46.520 --> 0:11:49.120 to ask you the cliche question and ask you to 0:11:49.320 --> 0:11:52.959 take it literally. What's not to like about Nvidia's results. 0:11:53.280 --> 0:11:57.240 Honestly, there's nothing not to like. They gave us a 0:11:57.280 --> 0:12:01.040 great guide, they gave us great results. They told us 0:12:01.240 --> 0:12:05.680 that they couldn't meet demand. They told us they likely 0:12:05.679 --> 0:12:10.920 can't meet demand for another until midway through next year 0:12:11.160 --> 0:12:13.360 or beyond that well into next year, I think, is 0:12:13.400 --> 0:12:16.240 what Jensen said, So there's nothing not for leng. 0:12:17.280 --> 0:12:23.120 How much is this growth that the CEO has continued 0:12:23.120 --> 0:12:26.520 to forecast for these last several quarters going to hinge 0:12:26.720 --> 0:12:32.400 on suppliers like Taiwan Semiconductor meeting demand that Wang is 0:12:32.440 --> 0:12:35.880 admitting is going to outstrip supply for quite some time. 0:12:37.600 --> 0:12:42.200 I certainly in the near term it's it's an issue, 0:12:42.360 --> 0:12:44.880 right They told you during the call they couldn't get 0:12:44.920 --> 0:12:48.040 as many networking products out as they would have liked 0:12:48.480 --> 0:12:53.559 because of supply constraints. I think with their newer chips 0:12:53.880 --> 0:12:57.439 they need a new generation of high bandwidth memory. High 0:12:57.480 --> 0:13:01.880 bendwith memory has bent tight. That new iteration HBM three 0:13:01.960 --> 0:13:04.760 E is even tighter, so that's going to be a 0:13:04.760 --> 0:13:07.079 constraining factor. So I think at least in the near 0:13:07.160 --> 0:13:11.040 term it's a problem. Longer term, suppliers will figure out 0:13:11.040 --> 0:13:12.240 ways to enable and video. 0:13:13.000 --> 0:13:15.920 And you point out in your note that the video 0:13:16.000 --> 0:13:19.480 broke out networking as a line item for the first time. 0:13:19.480 --> 0:13:22.599 What stands out to you in terms of the networking 0:13:22.760 --> 0:13:24.280 aspect of Nvidia's business. 0:13:25.760 --> 0:13:30.400 So I think what's what's really interesting is they took 0:13:32.120 --> 0:13:38.600 this business from Melanox that was relatively small. Now they've 0:13:38.600 --> 0:13:41.920 grown it to a size where it's comparable, if not 0:13:42.040 --> 0:13:47.360 larger than something like Arista. And they're not a networking company, right, 0:13:47.400 --> 0:13:53.400 they're a GPU company. I think in the near term 0:13:53.880 --> 0:13:57.600 them telling you that networking was constrained in the court 0:13:57.679 --> 0:14:01.520 they just reported, but it's getting better better this quarter. 0:14:01.679 --> 0:14:04.200 I mean, that's just another tailwind for them, right where 0:14:04.280 --> 0:14:07.560 revenue that they weren't able to ship last quarter ships 0:14:07.559 --> 0:14:08.000 this quarter. 0:14:09.400 --> 0:14:11.280 Obviously, there's a lot of attention as well on the 0:14:11.320 --> 0:14:13.719 announcement of the ten for one stock split in the 0:14:13.760 --> 0:14:17.120 pre market right now, we're seeing in Vidia shares trading 0:14:17.240 --> 0:14:20.760 above your price target of one thousand dollars. Where do 0:14:20.800 --> 0:14:23.920 you see the stock going now with a split on 0:14:23.960 --> 0:14:26.440 the way? 0:14:26.880 --> 0:14:28.360 So, I mean it splits on it is a good 0:14:28.400 --> 0:14:32.720 thing in the sense that you have investors that couldn't 0:14:32.840 --> 0:14:37.760 get involved because the stock was simply too pricing. Now 0:14:37.960 --> 0:14:41.320 that enables those investors. I mean to some extent, it's 0:14:41.320 --> 0:14:44.200 a question of supplied demand, right, you have more demand. 0:14:44.240 --> 0:14:45.320 It's a good thing for the stock. 0:14:47.040 --> 0:14:50.280 So do you raise your target? You want to make 0:14:50.280 --> 0:14:51.760 some news this morning. 0:14:53.680 --> 0:14:57.000 I again talk about where my price target goes until 0:14:57.000 --> 0:14:58.960 I put out a note talking about where my price 0:14:59.000 --> 0:15:02.840 target goes. But I mean certainly what they told us. 0:15:03.480 --> 0:15:08.840 It lifts numbers beyond where my current model is, and 0:15:08.920 --> 0:15:12.120 so whenever I come out with a report, my new 0:15:12.160 --> 0:15:14.960 model has to reflect that changes to their guide. 0:15:16.040 --> 0:15:19.080 This is Bloomberg Daybreak Today, your morning brief on the 0:15:19.120 --> 0:15:22.560 stories making news from Wall Street to Washington and beyond. 0:15:22.840 --> 0:15:25.600 Look for us on your podcast feed at six am 0:15:25.680 --> 0:15:29.320 Eastern each morning, on Apple, Spotify, and anywhere else you 0:15:29.400 --> 0:15:30.560 get your podcasts. 0:15:30.680 --> 0:15:33.400 You can also listen live each morning starting at five 0:15:33.440 --> 0:15:36.080 am Wall Street time on Bloomberg eleven three to zero 0:15:36.080 --> 0:15:38.880 in New York, Bloomberg ninety nine to one in Washington, 0:15:39.040 --> 0:15:42.240 Bloomberg one six to one in Boston, and Bloomberg ninety 0:15:42.280 --> 0:15:43.640 sixty in San Francisco. 0:15:44.040 --> 0:15:47.200 Our flagship New York station is also available on your 0:15:47.240 --> 0:15:52.680 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:15:52.720 --> 0:15:56.160 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:15:56.240 --> 0:16:00.000 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hay. 0:16:00.280 --> 0:16:01.440 And I'm Karen Moscow. 0:16:01.640 --> 0:16:04.440 Join us again tomorrow morning for all the news you 0:16:04.520 --> 0:16:08.600 need to start your day, right here on Bloomberg Daybreak