应用材料盘前跌5%，Reddit涨12%，Gemini亏损扩大

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the Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Uh, some of the stocks that have reported earnings, uh, solid results from Applied Materials. [music] Um, why is the stock down, Dan? Good morning.

Good morning. That's right. So shares of applied materials are down about 5% in the pre-market under ticker AMAT and that was after a B and raise quarter. So just for some background, the company sells machines, software and services used to manufacture semiconductor chips and it has been on a tear so far this year. As of yesterday's close, it was up over it was up 108% uh in 2026. It'd been outperforming other peers.

Take a look at a company like Lamb Research which was about 10 percentage points underperforming uh applied materials. And so what seems to be happening in the pre-market now is a little bit of pricing on that outperforming outperformance. It's been very strong. It's been a little bit stronger than peers. And after the results, it seems like markets are questioning, well, is it that much better than some of the other companies?

So what actually happened? What did we learn after the bell? Well, we learned that the company is more optimistic than it was before. Uh and it's really put out, you know, a relatively strong note and even analysts were generally positive about both the results and the forecast that the company put out. uh the the few one point of weakness I saw when reading through the the summary was basically NAND a type of memory that is in very high demand for AI it's having strong growth this year the company is slow is forecasting slightly slower growth next year so a little bit of a hesitation trepidation there from the company but in general it was pretty strong we just have the market trying to figure out you know how much stronger is it than peers today

okay so while we continue to watch uh those shares move uh got to think a lot of investors are are keeping an eye on what US drone makers are doing now that uh President Trump's announced this big tariff on drones uh imported into this country.

That's right. 100% is a pretty big number. I mean, that doubles uh basically doubles the cost uh of importing drones uh from foreigners. And so that has US drone makers and companies that also make drone parts surging in the pre-market. Uh unusual machines, UMAC, is really catching my eye. That's up 13%. Other companies Redcat RCAT up 7%. A environment which is trades under ticker AVAV up 3%. So unusual machines in particular is a standout there.

I'll just put it out there. Donald Trump, Donald Trump Jr. has been an adviser to the company since 2024. He previously invested in the stock and this company is adding to its 175% rally over the last year. The stock itself, eight buys, no hold or sell ratings and an average price target of nearly $40. that that was 45% above yesterday's closing price. A lot of optimism around the stock and that is continuing this morning.

Yeah. Well, I guess there's a lot of excitement around uh Reddit as well. It is the biggest gainer in the pre-market.

Yeah. So, Reddit is up 12% in the pre-market. Uh RDDT and the company is set to join the S&P 500 before trading opens on Tuesday. The inclusion is important as it means funds that track the S&P 500 will need to buy shares. This is called passive funds. So they track the index. If a c if a stock goes into the index, they need to buy it. Uh as of the close, the stock had rallied 365% from its IPO in early 2024 despite a bit of a pullback from last year's high.

And with a market cap about $30 billion, that means it'll be around, you know, the 300th largest company in the index. So 300 out of 500, pretty pretty in the middle. Um and it's going to go in and replace Avalon Bay Communities, which is being acquired by Equity Residential.

All right. Uh just time to tell us why uh Gemini Space Station is not doing so hot this morning.

Yeah, not hot at all. So the shares of Gemini uh GMI are down 6% in the pre-market. This is the digital asset platform led by the Winklv twins, Winkl Voss twins if you'd like. Uh it posted the fourth consecutive quarterly loss since last year's IPO. So second quarter loss of $108 million. It worked out to 89 cents per share loss. Um that was wider than Wall Street expected. And this is a relatively small crypto exchange in a market where size matters and Bitcoin has [music] been on the back burner.

The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies [music] making news on Wall Street. And for the latest market moving headlines, listen [music] to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com, and on Apple [music] CarPlay and Android Auto with the Bloomberg Business App.