WEBVTT - SpaceX Debuts on NASDAQ; Adobe Reports; Exxon Mobil Dips

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg Dan Curtis. Starting off

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<v Speaker 1>with a stock that's gonna be on the move today, SpaceX.

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<v Speaker 1>Good morning, Dan, Good morning Nathan.

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<v Speaker 3>How can we not be watching the largest IPO in

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<v Speaker 3>history today with the with the SpaceX coming out the

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<v Speaker 3>pricing at one hundred and thirty five dollars a share,

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<v Speaker 3>raising seventy five billion dollars and given the company a

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<v Speaker 3>massive valuation of nearly one point eight trillion dollars. This

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<v Speaker 3>is the largest IPO ever so coming out, it's priced

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<v Speaker 3>at about ninety five time sales, but the listing was

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<v Speaker 3>four times over subscribed according to Bloomberg Reporting. While many

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<v Speaker 3>other companies have come to market, say twenty thirty times

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<v Speaker 3>over subscribed, the scale of this listing means that that's

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<v Speaker 3>over three hundred billion dollars in demand. So we're keeping

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<v Speaker 3>our eyes on this stock today as it's set to

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<v Speaker 3>make its trading debut on the New York Stock Exchange.

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<v Speaker 3>Some gray markets are have this, are signaling that this

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<v Speaker 3>will trade out a premium, including perpetual futures on hyper liquid,

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<v Speaker 3>which are implying about a thirty five percent upside in

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<v Speaker 3>that space. And the other thing we're watching the world's

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<v Speaker 3>first trillionaire, He Musk, is worth nine hundred and seventy

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<v Speaker 3>billion dollars after the IPO. I use Bloomberg Billionaire's data

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<v Speaker 3>and a calculator, A four point two percent rise would

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<v Speaker 3>probably get him over that mark into the trillion dollar range.

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<v Speaker 1>Oh, is that all we should clarify? The SpaceX is

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<v Speaker 1>going to start trading on the NASDAK this.

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<v Speaker 3>Sorry, yes, NASDAK, thank you, thank you, Yes, nat you

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<v Speaker 3>are yes NASDAK.

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<v Speaker 1>That being said, while we wait for what kind of

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<v Speaker 1>move we see from SpaceX, got to think space related

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<v Speaker 1>stocks are moving already.

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<v Speaker 3>Dan Absolutely, markets are not waiting. Rocket Lab is up

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<v Speaker 3>six percent and it's also the news that it will

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<v Speaker 3>be joining the Nasdaq one hundred, so a little of

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<v Speaker 3>extra positive news for the space for the space space.

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<v Speaker 3>But it's not just Rocket Labs. Red Wire tick Our

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<v Speaker 3>RDW up four percent and ast Space Mobile also up

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<v Speaker 3>four percent. These stocks have been really gyrating ahead of

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<v Speaker 3>the listing, but we're seeing some positive momentum. Most of

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<v Speaker 3>those names gained double digits yesterday, red Wire up fourteen percent,

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<v Speaker 3>Ast Space Mobile up nearly twelve percent, Rocket Labs up

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<v Speaker 3>ten percent. A lot of hype around this and that

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<v Speaker 3>is going out to the other names.

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<v Speaker 2>Well.

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<v Speaker 1>Stock that's moving the other direction after earnings is Adobe.

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<v Speaker 1>Those definitely aren't being received well this morning, Dan, Yeah, those.

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<v Speaker 3>Shares are down over six percent underticker ADBE and the

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<v Speaker 3>creative software company announced that CFO Dan Dern will be

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<v Speaker 3>departing the company on Monday. And we've been talking a

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<v Speaker 3>lot about this, you know long AI tech trade out

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<v Speaker 3>of software, and that's what the CFO is doing with

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<v Speaker 3>his career. He's leaving the role to move to the

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<v Speaker 3>seat to the CFO role at chip maker Marvel. That

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<v Speaker 3>has the shares down six percent. This also follows the

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<v Speaker 3>CEO announcing his resignation earlier this year and the company

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<v Speaker 3>is still looking for a replacement. So the company is

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<v Speaker 3>looking for a new CEO. The CFO just announced he's resigning.

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<v Speaker 3>That's putting the shares on the back foot now. The

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<v Speaker 3>company reported second quarter results as well. Top and bottom

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<v Speaker 3>line results did be estimates, and the Acrobat Ai assistant

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<v Speaker 3>annual recurring revenue grew three times. Company raised full year guidance,

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<v Speaker 3>but this management shakeup seems to be the cloud hanging

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<v Speaker 3>over the company in the pre market.

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<v Speaker 2>This stock Moover's report from Bloomberg Radio. Check back with

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