彭博《股票异动报告》开场

Bloomberg: Audio Studios podcasts, radio, news, the Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. 彭博：来自彭博音频工作室的播客、广播、新闻，以及《股票异动报告》(Stock Movers Report: 彭博社的一档节目，关注股市中表现异常的公司)，这是您了解股市中公司动态的报告，充分利用了彭博数据。

I'm Carol Masser, along with Bailey Lipsheltz. Let's get to some stocks on the move today. Bloomberg News equities reporter Natalya Kenny Javich is here in studio. Let's talk about stocks on the move. Where do you want to start? I think I bet I know where you want to start. Maybe I don't know where you want to... Papa John's. 我是卡罗尔·马塞尔，和贝利·利普谢尔茨一起。今天我们来看看一些异动的股票。彭博新闻股票记者娜塔莉亚·肯尼·亚维奇在演播室。我们来谈谈异动的股票吧。你想从哪里开始？我想我猜到你想从哪里开始。也许我不知道你想从哪里开始……是Papa John's吗？

Natalya Kenny Javich: No, but I love that you're going to go there. 娜塔莉亚·肯尼·亚维奇：不是，但我喜欢你提到它。

Papa John's：收购传闻推高股价

Natalya Kenny Javich: All right, so let's start with Papa John's. The ticker is PZZA. The stock jumped as much as 23% today, but closed about 10% higher. 娜塔莉亚·肯尼·亚维奇：好的，那我们还是从Papa John's开始吧。它的股票代码 (ticker: 公司在证券交易所的简短标识) 是PZZA。今天该股一度上涨23%，但收盘时涨幅约为10%。

This is after Street Insider reported that the pizza operator received a $64 per share bid from Apollo Global Management. I have to point out that the company declined to come into Bloomberg, but sources told Street Insider (Street Insider: 报道公司交易和市场动态的金融新闻网站) that the private equity firm (Private Equity Firm: 投资于非上市公司股权或进行杠杆收购的公司) has been granted access to due diligence (Due Diligence: 在达成协议前对潜在交易对象进行全面审查), and a potential deal could come just in a few weeks from now. 这是在Street Insider报道这家披萨运营商收到了阿波罗全球管理公司 (Apollo Global Management: 一家全球领先的另类投资管理公司) 每股64美元的报价之后。我必须指出，该公司拒绝接受彭博社的采访，但消息人士告诉Street Insider，这家私募股权公司已被允许进行尽职调查，潜在的交易可能在几周内达成。

When I spoke with one analyst and asked why it would do it right now, he said, 'Well, first of all, everything has a price.' The company has been struggling; it's underperforming Domino's Pizza, especially after Domino's started collaborating with delivery services like DoorDash and Uber. Potentially, it's more important that 2024 was a really tough year for quick restaurant service companies because consumers are becoming more picky, right? At the low end of the consumer chain, we have to make choices, and maybe it means no food delivery. 当我与一位分析师交谈并问他为什么现在会这样做时，他说：“首先，一切都有价格。”该公司一直在挣扎；它的表现不如达美乐披萨，尤其是在达美乐开始与DoorDash和Uber等外卖服务合作之后。更重要的是，2024年对于快速餐饮服务公司来说是艰难的一年，因为消费者变得更加挑剔，对吗？在消费链的低端，我们必须做出选择，这可能意味着不再选择外卖。

Bailey Lipsheltz: Yeah, a pandemic was definitely a great time for them. But then I looked at the stock price starting from October 2021, guys. Guess what? It's down by 63%. 贝利·利普谢尔茨：是的，疫情对他们来说确实是一段好时光。但是，伙计们，我看了看从2021年10月开始的股价。你们猜怎么着？它下跌了63%。

Carol Masser: Wow, that's a lot. Even with today's move, it's only recouping losses from the last four days. And Natalia, I think it's interesting, as you mentioned, if you see a report that says $64 and it closes at $46, I think investors aren't buying it. 卡罗尔·马塞尔：哇，这跌幅很大。即使有今天的上涨，它也仅仅弥补了过去四天的损失。娜塔莉亚，我认为这很有趣，正如你所说，如果一份报告称价格是64美元，但它收盘价是46美元，我认为投资者并不买账。

Natalya Kenny Javich: Yeah, exactly. I was surprised by that, that it didn't even move up to that. 娜塔莉亚·肯尼·亚维奇：是的，没错。我对此感到惊讶，它甚至没有涨到那个水平。

拉斯维加斯金沙：澳门博彩业疲软

Natalya Kenny Javich: All right, let's go to LVS. 娜塔莉亚·肯尼·亚维奇：好的，我们来看看LVS。

Carol Masser: LVS, yes. Las Vegas Sands (Las Vegas Sands: 一家全球领先的度假村和赌场运营商) ' stock is down by 6%, just as other Macau casino operators. 卡罗尔·马塞尔：LVS，是的。拉斯维加斯金沙的股价下跌了6%，其他澳门赌场运营商也是如此。

Natalya Kenny Javich: It came as some industry reports showed that demand for casinos was weak. Particularly, I'm citing Jefferies data. They said that demand, which includes the end of the Golden Week holiday (Golden Week Holiday: 中国的法定长假，通常伴随大规模旅游和消费) in China, was lower than expected. Macau gaming revenue for the seven days ended on October 12th was down 46% on a week-over-week basis. On a month-to-date basis, it's also disappointing, implying about a 5% year-over-year drop. 娜塔莉亚·肯尼·亚维奇：出现这种情况是因为一些行业报告显示，对赌场的市场需求疲软。我特别引用了Jefferies的数据。他们表示，包括中国黄金周假期结束在内的需求低于预期。截至10月12日的七天内，澳门博彩收入环比下降46%。从月度至今来看，这一数据也令人失望，这意味着同比下降约5%。

So, lots of concern. We see that these stocks are under pressure, and you're also seeing it: Golden Week is such a big event in Asia, and if people aren't leaving mainland China to go gamble, the question comes back to how is the health of the Chinese consumer, or the people at the top 10%, if they aren't making those trips to, I don't know, bet on horses and do everything else. 所以，有很多担忧。我们看到这些股票面临压力，你也会看到：黄金周在亚洲是一个非常重要的事件，如果人们不离开中国大陆去赌博，问题就会回到中国消费者的健康状况，或者说前10%人群的健康状况，如果他们不去旅行，我不知道，去赌马或做其他所有事情。

Bailey Lipsheltz: Have you been to Macau? 贝利·利普谢尔茨：你去过澳门吗？

Natalya Kenny Javich: No, I haven't. 娜塔莉亚·肯尼·亚维奇：不，我没有。

Bailey Lipsheltz: Have you? 贝利·利普谢尔茨：你呢？

Carol Masser: No. No, I was in Hong Kong but I didn't make the trip. I was told it's a glorified Vegas, and I try to limit my time in Vegas, but that's I digress. 卡罗尔·马塞尔：没有。不，我去过香港但没去澳门。我听说那里是“升级版”的拉斯维加斯，我尽量减少待在拉斯维加斯的时间，不过我跑题了。

Bailey Lipsheltz: Natalia, I think the stock that you want to end on is the one that Carol thought you'd start on. 贝利·利普谢尔茨：娜塔莉亚，我想你最后想讲的股票是卡罗尔以为你会从一开始讲的那个。

Carol Masser: Can I just say, though, Las Vegas Sands – not all gaming companies or gambling are the same, but their exposure to Macau is a big one. So, the China play is really important for them. 卡罗尔·马塞尔：不过我只想说，拉斯维加斯金沙——并非所有博彩公司或博彩业都一样，但它们在澳门的业务敞口非常大。所以，中国市场对它们来说非常重要。

Natalya Kenny Javich: Yeah, and we saw Wynn under pressure. So, two of the three worst performers – we talked about that on TV – two of the worst three performers in the S&P 500 (S&P 500: 标准普尔500指数，衡量美国股市大盘表现的500家大型公司股票指数) are all because of that exposure to Macau. 娜塔莉亚·肯尼·亚维奇：是的，我们看到永利也承受着压力。所以，表现最差的三只股票中有两只——我们在电视上讨论过——标准普尔500指数中表现最差的三只股票中有两只都因为对澳门的敞口而下跌。

博通：与OpenAI合作股价飙升

Natalya Kenny Javich: Anyway, back to the green. Yeah, all roads lead back to today. 娜塔莉亚·肯尼·亚维奇：总之，回到上涨的股票。是的，所有线索都指向今天。

Carol Masser: Broadcom (Broadcom: 一家全球领先的半导体和基础设施软件解决方案提供商), ticker AVGO, the stock is up by 10% — I should say 9.88% today. Of course, it came after OpenAI (OpenAI: 一家人工智能研究和部署公司，以开发ChatGPT闻名) agreed to buy the company's custom chips and networking equipment. 卡罗尔·马塞尔：博通，股票代码AVGO，今天该股上涨了10%——我应该说是9.88%。当然，这是在OpenAI同意购买该公司定制芯片和网络设备之后发生的。

Bailey Lipsheltz: I'd have a dollar for every time I said Broadcom or OpenAI today. 贝利·利普谢尔茨：如果我今天每说一次博通或OpenAI就能得到一美元，那我就发财了。

Natalya Kenny Javich: I know, I know. Of course, it brings more positive sentiment across AI names. I was looking at analysts' reactions. Here's what I found: For example, Mizuho's research, which has a $415 price target (the stock is now trading at $356), said that this deal would double AI revenue in 2026 and then double again in 2027. 娜塔莉亚·肯尼·亚维奇：我知道，我知道。当然，这给所有人工智能相关的股票带来了更多积极情绪。我查看了分析师的反应。我发现：例如，瑞穗证券的研究报告给出了415美元的目标价（该股目前交易价为356美元），他们表示这笔交易将使博通在2026年的人工智能收入翻倍，并在2027年再次翻倍。

However, when we look at today's price reaction, Vital Knowledge analysts said that one of the biggest reasons why this stock jumped after its earnings report is because Broadcom announced this partnership with OpenAI. They said, and I quote, 'It seems like the announcement this morning is a little bit recycled.' So, investors already knew that there was a pact between the two companies. 然而，当我们审视今天的股价反应时，Vital Knowledge的分析师表示，该股在财报发布后跳涨的最大原因之一是博通宣布了与OpenAI的合作。他们说，我引用一下原话：“今天早上的这个公告似乎有点旧闻重提了。”所以，投资者已经知道两家公司之间存在协议。

Carol Masser: Come on. How much time do we devote to talking about this? 卡罗尔·马塞尔：拜托。我们还要花多少时间来讨论这个？

Bailey Lipsheltz: I still want to know what happens if OpenAI was public. Would the shares be up or down today? 贝利·利普谢尔茨：我仍然想知道，如果OpenAI是上市公司，今天它的股价会涨还是跌？

Natalya Kenny Javich: I have no idea. 娜塔莉亚·肯尼·亚维奇：我不知道。

Carol Masser: Well, you know, they're they're spending. 卡罗尔·马塞尔：嗯，你知道，他们在花钱。

Bailey Lipsheltz: We think they're... we don't know who's spending it. 贝利·利普谢尔茨：我们认为他们……我们不知道是谁在花钱。

Carol Masser: You're right. We don't... this is this vacuum that is AI, and they are kind of the poster child of all of it. And it's either going to be a massive win or, I don't know, it could end badly. As we talked about it earlier, you're better off being wrong when everyone else is wrong than to be the one who sits it out, à la Intel (à la Intel: 仿效英特尔，指跟随大众而非特立独行的投资策略，即在市场热潮中宁愿与大家一起犯错，也不愿独自错过机会). 卡罗尔·马塞尔：你说得对。我们不……这就是人工智能这个真空地带，它们是所有这些的典型代表。这要么会是一次巨大的胜利，要么，我不知道，可能会以糟糕的结局收场。正如我们之前讨论的，宁愿和大家一起错，也不要独自旁观，就像英特尔那样。

Bailey Lipsheltz: Well, that's the bet, right? And that's the risk right now. 贝利·利普谢尔茨：嗯，这就是赌注，对吧？这也是目前的风险。

节目尾声

Bloomberg: The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube, bloomberg.com, and on Apple CarPlay and Android Auto with the Bloomberg Business App. 彭博：来自彭博广播的《股票异动报告》。全天关注我们，获取华尔街最新新闻公司的汇总。要了解最新的市场动态头条，请收听彭博广播直播。您可以在YouTube、bloomberg.com以及通过彭博商业应用程序在Apple CarPlay和Android Auto上收看我们。