Oracle Drops, Freeport-McMoRan Falls, Baker Hughes Lower After Updated Guidance

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1:02Christine Aquino, our Bloomberg Managing Editor for our Market Slive blog is here with us. Christine, what's on your radar? We gotta talk about Oracle, of course, Scarlett, because we do have Ernie's coming after the bell later today and ahead of that, that stock ticker ORCL checking out is down more than 2% at the moment. Again, a lot of questions around how much Oracle is really spending on AI, given that they are, they have one of the more weak credit ratings when it comes to the companies involved in this trade. A lot of concerns about their debt load as well. The expectation is that Oracle's Capix is going to be nearly $20 billion in quarter. A free cash flow will be about a negative $10 billion and that will be among the lowest readings in the company's history. As that burden has jumped substantially since early 2025, a lot of concerns over that also with expectations that it will pose negative free cash flow into 2029. That's hanging over to shares and hanging over to Ernie's and we're seeing that very much

2:06in a part-section today. Larry Elson, does conference calls, quarterly conference calls? I don't know that. I don't think he speaks on the conference calls, but I'm not sure Christine, do you know? Yeah, I mean, I don't know if he would be very open to scrutiny if he does. He's the chairman, he's the CEO, he's the co-founder, but he's not actively managing the company day-to-day, right? Yeah, I don't think so. Anyway, we'll see. But the stock down a couple of percent today. We'll keep an eye on that one down 18 percent this year. What else have you got? We're looking at Freeport Book Morin as well, so take our FCX copper miner and also down to day, down 7.2 percent at the moment. That is because we did get a Reuters report saying that the White House has not yet made a decision and refined copper tariffs. So, apparently, the White House is weighing concerns that higher prices would raise manufacturing costs versus the benefits of encouraging more domestic copper mining. And so some analysts weighing in on this news, RBC Capital Market, Sam Krichengan noting that the copper tariffs not being implemented would

3:09be negative for markets because the possibility of a tariff has really boiled that copper prices this year. It's closing in on around $10,000. And so if there is a backtracking on this front, that would drive significant inventory inflows into the US and weigh on that price and weigh on the copper miners as well. All right. And one more, Kristi. Let's take a look at Baker Hughes as well. Another stock in the Red ticker BKR and those shares are down 6.4 percent at the moment. We did get updated 2020 six guidance for the company and that includes some guidance on their newly acquired chart industries. But, you know, Bloomberg intelligence noting that the guidance just does reflect initial softness for the business. And the implied 17.1 percent EBITDA margin is below its standalone margin of 23.8 percent for 2025. So a lot of kind of factors reflected delays in projects and softness in markets including LNG and hydrogen being factored into

4:11that guidance and therefore weighing into shares today as well. This 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. This is the Bloomberg Tech Minute brought to you by Chatchee PT. Now with Chatchee PT work, I'm Carol Masser. Has the AI moment arrived at corporate offices worldwide? Not yet. And it's perhaps several years away, according to one survey of corporate recruiters who circle the world's business schools each fall and spring. Bloomberg's Rob Mandelbaum notes that according to the Graduate Management Admission Council, the skills recruiters sought most among 2026 graduates of Business School Master's programs including MBAs for communication,

5:12problem solving and adaptability, which changed little from last year. Training and artificial intelligence tools ranked in the bottom third of the skills list, but recruiters did say AI specific training will be more important in five years. On that recruiters rated current graduates as only somewhat prepared or less to work with AI tools and said Business Schools are not doing a good job of teaching AI skills. Bottom line, according to the survey, what most companies want when it comes to AI skills is for candidates to be able to automate routine work. That's the Bloomberg Tech Minute brought to you by Chatchee PT. Put Chatchee PT to work on your most ambitious ideas and projects. Get started at chatchee PT.com today by selecting Work Mode, Available on Plus and Pro Plans. This dog salon, operational excellence, thanks to Genius from Global Payments, Scheduling, Personalized, Checkouts, Instant, Absolutely Genius, Big League Reliability for any Business. That's Genius.

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