1 00:00:02,560 --> 00:00:10,480 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,840 --> 00:00:14,160 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,280 --> 00:00:16,799 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:17,400 --> 00:00:19,799 Speaker 2: Paul's Fringing and Tom Keane Here, I'm looking at the 5 00:00:20,079 --> 00:00:23,720 Speaker 2: Stock Movers right now. Stock's on the move with us, 6 00:00:23,880 --> 00:00:26,160 Speaker 2: Lisa Matteo. Lisa, what do you have for your podcast? 7 00:00:26,200 --> 00:00:27,880 Speaker 3: All right, We're going to kick it off with FedEx. 8 00:00:27,880 --> 00:00:30,480 Speaker 3: That's ticker FDx. Its share has been down as much 9 00:00:30,480 --> 00:00:33,239 Speaker 3: as six percent before the Bell War. Than that, it's 10 00:00:33,280 --> 00:00:36,440 Speaker 3: profit will be worse and expected this quarter. What really 11 00:00:36,440 --> 00:00:39,959 Speaker 3: stood out is that FedEx typically provides a full year forecast, 12 00:00:40,000 --> 00:00:42,280 Speaker 3: but it did not offer guidance for the rest of 13 00:00:42,320 --> 00:00:45,239 Speaker 3: the year. They pointed to what they called uncertain global 14 00:00:45,280 --> 00:00:48,360 Speaker 3: demand for the environment, a sign really the impact of 15 00:00:48,720 --> 00:00:50,960 Speaker 3: the trade war on the company. Instead, it expects one 16 00:00:51,040 --> 00:00:53,600 Speaker 3: hundred and seventy million dollar hit this quarter from a 17 00:00:53,680 --> 00:00:56,280 Speaker 3: change in power rules. What happened is to cut demand 18 00:00:56,320 --> 00:00:58,400 Speaker 3: from packages ship to the US from China, and that 19 00:00:58,480 --> 00:01:00,360 Speaker 3: was a big part of it. 20 00:01:00,560 --> 00:01:02,080 Speaker 4: Paul, I think this is so important. 21 00:01:02,120 --> 00:01:05,440 Speaker 2: Fred Smith, with the passing of mister Smith's who invented this, 22 00:01:05,840 --> 00:01:08,840 Speaker 2: no other way to put it, it's just about competition. 23 00:01:09,520 --> 00:01:12,200 Speaker 2: They were alone for decades. 24 00:01:12,280 --> 00:01:14,800 Speaker 4: Yeah, and it's obviously, as you mentioned, on a very 25 00:01:14,800 --> 00:01:15,520 Speaker 4: competitive business. 26 00:01:15,520 --> 00:01:17,480 Speaker 1: But it's such a high fixed. 27 00:01:17,160 --> 00:01:21,000 Speaker 4: Cost business that when demand just ebbs just a little bit, 28 00:01:21,080 --> 00:01:23,080 Speaker 4: what do you do. You've got the planes, you got 29 00:01:23,080 --> 00:01:25,280 Speaker 4: the trucks. I mean, it's just it's kind of like 30 00:01:25,319 --> 00:01:28,199 Speaker 4: that load factor how many packages you can get in there. 31 00:01:28,240 --> 00:01:30,600 Speaker 4: So that's a that's a tough bsiness right there when 32 00:01:30,640 --> 00:01:31,720 Speaker 4: when times are slowly Yeah, and. 33 00:01:31,680 --> 00:01:33,600 Speaker 3: Then you have the competition from Amazon to you on 34 00:01:33,680 --> 00:01:35,720 Speaker 3: top of it. They ended the contract with the post 35 00:01:35,720 --> 00:01:37,760 Speaker 3: Office just about FedEx trucks. 36 00:01:37,760 --> 00:01:38,000 Speaker 2: Stump. 37 00:01:38,440 --> 00:01:41,520 Speaker 4: There's way more Amazon trucks I think than like FedEx 38 00:01:41,680 --> 00:01:45,000 Speaker 4: or even it's just Amazon trucks are everywhere. 39 00:01:45,200 --> 00:01:48,760 Speaker 3: Next, Yeah, transportation, wage expenses, all of that. Okay, I 40 00:01:48,840 --> 00:01:52,240 Speaker 3: want to go to BlackBerry ticker b B. There shares 41 00:01:52,320 --> 00:01:56,320 Speaker 3: up eleven percent before the open. They're talking about not 42 00:01:56,360 --> 00:01:58,360 Speaker 3: talking about the phone with the key bad and you 43 00:01:58,360 --> 00:01:59,840 Speaker 3: know that we used to do with our little thoughts. 44 00:02:00,120 --> 00:02:00,560 Speaker 1: Then do that. 45 00:02:00,640 --> 00:02:02,200 Speaker 3: No, no, no, this is rather the work is a 46 00:02:02,240 --> 00:02:06,200 Speaker 3: security software company. So they boosted its revenue forecast for 47 00:02:06,240 --> 00:02:08,520 Speaker 3: the full year swung to a profit the first quarter, 48 00:02:08,600 --> 00:02:12,000 Speaker 3: better than expected revenue. If you want the specifics, they 49 00:02:12,000 --> 00:02:14,679 Speaker 3: now expect revenue five hundred and eight million to five 50 00:02:15,040 --> 00:02:17,400 Speaker 3: thirty eight million. That's for fiscal twenty twenty six, and 51 00:02:17,400 --> 00:02:20,880 Speaker 3: that's up from its prior guidance. Higher sales guidance also comes. 52 00:02:20,919 --> 00:02:22,959 Speaker 3: The company swung to a profit of one point nine 53 00:02:23,080 --> 00:02:25,160 Speaker 3: million in its fiscal first quarter. 54 00:02:25,720 --> 00:02:32,519 Speaker 4: So it's a tiny company, yeah relative, yeah, exactly. 55 00:02:32,560 --> 00:02:34,480 Speaker 2: The eighteen hundred employees that. 56 00:02:34,440 --> 00:02:37,480 Speaker 4: They survived as a company, that's pretty amazing. Actually they 57 00:02:37,480 --> 00:02:40,480 Speaker 4: were able to get it away from now there what 58 00:02:40,600 --> 00:02:41,640 Speaker 4: they were, you know, a phone. 59 00:02:41,680 --> 00:02:44,560 Speaker 2: You and I have moved down to technology. You still 60 00:02:44,600 --> 00:02:45,720 Speaker 2: have a BlackBerry in the. 61 00:02:45,720 --> 00:02:48,680 Speaker 3: Tour somewhere, don't it somewhere somewhere. But it's interesting you 62 00:02:48,720 --> 00:02:51,000 Speaker 3: say that because you think of like a motorola, right, 63 00:02:51,080 --> 00:02:52,480 Speaker 3: the same thing when you had the flip phone. But 64 00:02:52,520 --> 00:02:55,680 Speaker 3: now they're big on like security stuff too, Like you. 65 00:02:55,800 --> 00:02:58,080 Speaker 2: Never enjoyed wearing a pager and your bill. 66 00:02:58,560 --> 00:03:02,040 Speaker 3: I did have the page, Yes, that was the college 67 00:03:02,160 --> 00:03:03,639 Speaker 3: pager in the quarter. So you can go to the 68 00:03:03,680 --> 00:03:05,600 Speaker 3: payphone and put the money in and call somebody. 69 00:03:05,720 --> 00:03:08,120 Speaker 2: I know, nobody listen what the payphone is? 70 00:03:08,880 --> 00:03:13,080 Speaker 3: Sorry, I gotta go here, Tom. Sorry. Cryptocurrency exchange coin 71 00:03:13,160 --> 00:03:17,640 Speaker 3: based global tickers cooi N. Their shares are up nearly 72 00:03:17,680 --> 00:03:21,280 Speaker 3: five percent, but he closed about twelve percent yesterday, the 73 00:03:21,320 --> 00:03:23,120 Speaker 3: best stock in the S and P five hundred in 74 00:03:23,200 --> 00:03:26,120 Speaker 3: the session. So a few things. You had the Senate 75 00:03:26,160 --> 00:03:29,240 Speaker 3: passing that bill to regulate stable coins in that Genius Act, 76 00:03:29,480 --> 00:03:31,880 Speaker 3: and then you have analysts at Benchmark Capital. They raised 77 00:03:31,880 --> 00:03:34,160 Speaker 3: their price target on the stock. They said, stable coins 78 00:03:34,200 --> 00:03:37,160 Speaker 3: are this major segment of the company's business. We look 79 00:03:37,160 --> 00:03:40,600 Speaker 3: at Bigcoin, they're up about one percent, just above one 80 00:03:40,640 --> 00:03:43,000 Speaker 3: hundred and seven thousand, So I have to also point 81 00:03:43,040 --> 00:03:43,520 Speaker 3: that out too. 82 00:03:43,760 --> 00:03:45,960 Speaker 2: Can I say thank you Gary Gunsler? Yesterday? 83 00:03:46,040 --> 00:03:47,040 Speaker 4: Yeah, that was great. 84 00:03:47,440 --> 00:03:50,520 Speaker 2: It was really informative. And I think of Ken Rogoff's book, 85 00:03:50,600 --> 00:03:53,600 Speaker 2: my book of the Summer in the Bank of International 86 00:03:53,640 --> 00:03:56,800 Speaker 2: Settlements Report, which everybody in the industry is talking about. 87 00:03:56,800 --> 00:04:01,560 Speaker 2: The last three days they were scathing. Yeah, they did that, RAFA. 88 00:04:02,560 --> 00:04:07,320 Speaker 2: They didn't spinning. You know, I just asked Katie. 89 00:04:07,080 --> 00:04:12,120 Speaker 3: Question, what's all meaning exactly? Well, speaking of head spinning, 90 00:04:12,680 --> 00:04:14,360 Speaker 3: this next one, I think I'm going in over my 91 00:04:14,400 --> 00:04:15,760 Speaker 3: head on this one, but we're going to go there 92 00:04:15,880 --> 00:04:20,159 Speaker 3: quantum scape that is ticker qs. The reason why I 93 00:04:20,200 --> 00:04:22,280 Speaker 3: pointed out is because their shares are up like thirty 94 00:04:22,360 --> 00:04:27,360 Speaker 3: seven percent. So it's an EVY battery maker. It announces breakthrough. 95 00:04:27,400 --> 00:04:30,320 Speaker 3: It's a process for making solid state batteries. So they're 96 00:04:30,320 --> 00:04:33,520 Speaker 3: saying this is a breakthrough, this is big. They're integrating 97 00:04:33,520 --> 00:04:37,760 Speaker 3: this advanced Cobra separator process into baseline cell production. Oh 98 00:04:37,800 --> 00:04:38,039 Speaker 3: you know. 99 00:04:38,160 --> 00:04:42,120 Speaker 1: I mean, I'm telling you the Stock Movers podcast from 100 00:04:42,120 --> 00:04:45,240 Speaker 1: Bloomberg Radio. Check back with us throughout the day for 101 00:04:45,360 --> 00:04:48,440 Speaker 1: the latest roundup of companies making news on Wall Street 102 00:04:48,720 --> 00:04:52,080 Speaker 1: and for the latest market moving headlines. Listen to Bloomberg 103 00:04:52,160 --> 00:04:55,719 Speaker 1: Radio Live, catch us on YouTube, Bloomberg dot com, and 104 00:04:55,800 --> 00:04:59,279 Speaker 1: on Applecarplay and Android Auto with the Bloomberg Business app.