Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg Dan Curtis. Starting off
Speaker 1: with a stock that's gonna be on the move today, SpaceX.
Speaker 1: Good morning, Dan, Good morning Nathan.
Speaker 3: How can we not be watching the largest IPO in
Speaker 3: history today with the with the SpaceX coming out the
Speaker 3: pricing at one hundred and thirty five dollars a share,
Speaker 3: raising seventy five billion dollars and given the company a
Speaker 3: massive valuation of nearly one point eight trillion dollars. This
Speaker 3: is the largest IPO ever so coming out, it's priced
Speaker 3: at about ninety five time sales, but the listing was
Speaker 3: four times over subscribed according to Bloomberg Reporting. While many
Speaker 3: other companies have come to market, say twenty thirty times
Speaker 3: over subscribed, the scale of this listing means that that's
Speaker 3: over three hundred billion dollars in demand. So we're keeping
Speaker 3: our eyes on this stock today as it's set to
Speaker 3: make its trading debut on the New York Stock Exchange.
Speaker 3: Some gray markets are have this, are signaling that this
Speaker 3: will trade out a premium, including perpetual futures on hyper liquid,
Speaker 3: which are implying about a thirty five percent upside in
Speaker 3: that space. And the other thing we're watching the world's
Speaker 3: first trillionaire, He Musk, is worth nine hundred and seventy
Speaker 3: billion dollars after the IPO. I use Bloomberg Billionaire's data
Speaker 3: and a calculator, A four point two percent rise would
Speaker 3: probably get him over that mark into the trillion dollar range.
Speaker 1: Oh, is that all we should clarify? The SpaceX is
Speaker 1: going to start trading on the NASDAK this.
Speaker 3: Sorry, yes, NASDAK, thank you, thank you, Yes, nat you
Speaker 3: are yes NASDAK.
Speaker 1: That being said, while we wait for what kind of
Speaker 1: move we see from SpaceX, got to think space related
Speaker 1: stocks are moving already.
Speaker 3: Dan Absolutely, markets are not waiting. Rocket Lab is up
Speaker 3: six percent and it's also the news that it will
Speaker 3: be joining the Nasdaq one hundred, so a little of
Speaker 3: extra positive news for the space for the space space.
Speaker 3: But it's not just Rocket Labs. Red Wire tick Our
Speaker 3: RDW up four percent and ast Space Mobile also up
Speaker 3: four percent. These stocks have been really gyrating ahead of
Speaker 3: the listing, but we're seeing some positive momentum. Most of
Speaker 3: those names gained double digits yesterday, red Wire up fourteen percent,
Speaker 3: Ast Space Mobile up nearly twelve percent, Rocket Labs up
Speaker 3: ten percent. A lot of hype around this and that
Speaker 3: is going out to the other names.
Speaker 2: Well.
Speaker 1: Stock that's moving the other direction after earnings is Adobe.
Speaker 1: Those definitely aren't being received well this morning, Dan, Yeah, those.
Speaker 3: Shares are down over six percent underticker ADBE and the
Speaker 3: creative software company announced that CFO Dan Dern will be
Speaker 3: departing the company on Monday. And we've been talking a
Speaker 3: lot about this, you know long AI tech trade out
Speaker 3: of software, and that's what the CFO is doing with
Speaker 3: his career. He's leaving the role to move to the
Speaker 3: seat to the CFO role at chip maker Marvel. That
Speaker 3: has the shares down six percent. This also follows the
Speaker 3: CEO announcing his resignation earlier this year and the company
Speaker 3: is still looking for a replacement. So the company is
Speaker 3: looking for a new CEO. The CFO just announced he's resigning.
Speaker 3: That's putting the shares on the back foot now. The
Speaker 3: company reported second quarter results as well. Top and bottom
Speaker 3: line results did be estimates, and the Acrobat Ai assistant
Speaker 3: annual recurring revenue grew three times. Company raised full year guidance,
Speaker 3: but this management shakeup seems to be the cloud hanging
Speaker 3: over the company in the pre market.
Speaker 2: This stock Moover's report from Bloomberg Radio. Check back with
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