1 00:00:02,520 --> 00:00:08,840 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,520 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,400 --> 00:00:18,840 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,880 --> 00:00:21,239 Speaker 3: the move on this Wednesday. To do that, we have 6 00:00:21,320 --> 00:00:24,400 Speaker 3: with us our managing editor for Markets Live, Christine Aquino, 7 00:00:25,120 --> 00:00:28,240 Speaker 3: and safe to say, Christine, a lot coming out investors, 8 00:00:28,320 --> 00:00:31,479 Speaker 3: But certainly one stock that we watched that's it around today. 9 00:00:31,520 --> 00:00:35,120 Speaker 1: Amazon, Absolutely, Carol, I mean that was in the news today. 10 00:00:35,280 --> 00:00:38,560 Speaker 1: It rose two percent right after The New York Times 11 00:00:38,560 --> 00:00:42,240 Speaker 1: reported that the company apparently made a last minute bid 12 00:00:42,240 --> 00:00:45,559 Speaker 1: to buy TikTok in the US, But the sources for 13 00:00:45,800 --> 00:00:48,519 Speaker 1: New York Times also saying that there are various parties 14 00:00:48,680 --> 00:00:50,680 Speaker 1: who have been involved in the talks do not appear 15 00:00:50,720 --> 00:00:53,559 Speaker 1: to be taking that bid seriously. So we'll see if 16 00:00:53,600 --> 00:00:56,880 Speaker 1: that actually comes to fruition. But definitely lifting some sentiment 17 00:00:56,880 --> 00:00:57,880 Speaker 1: for Amazon that we talked to. 18 00:00:57,840 --> 00:01:00,959 Speaker 4: Spencer Soper on our show a little earlier about this 19 00:01:01,120 --> 00:01:04,280 Speaker 4: and like why Amazon would be interested in a company 20 00:01:04,280 --> 00:01:06,080 Speaker 4: such as TikTok. He made a really good point that 21 00:01:06,440 --> 00:01:10,360 Speaker 4: people don't really spend time on the Amazon app trying 22 00:01:10,360 --> 00:01:11,800 Speaker 4: to discover new. 23 00:01:11,600 --> 00:01:12,320 Speaker 1: Things like this. 24 00:01:12,560 --> 00:01:13,920 Speaker 3: I spend way too much time. 25 00:01:14,680 --> 00:01:17,360 Speaker 4: Amazon has all those tools in the app to try 26 00:01:17,400 --> 00:01:19,639 Speaker 4: to get you to discover it has like these AI 27 00:01:19,760 --> 00:01:23,560 Speaker 4: features and this discovery feature feature. It's just to me, 28 00:01:23,600 --> 00:01:24,679 Speaker 4: it's not engaging at all. 29 00:01:24,880 --> 00:01:25,080 Speaker 1: Yeah. 30 00:01:25,120 --> 00:01:27,520 Speaker 4: TikTok, on the other hand, is like, uh, that's like 31 00:01:27,520 --> 00:01:29,480 Speaker 4: a drug app. Not for me. Because I deleted it 32 00:01:29,480 --> 00:01:30,520 Speaker 4: from my phone. 33 00:01:32,560 --> 00:01:34,720 Speaker 1: I had to wean myself off of it. To Tim, 34 00:01:34,720 --> 00:01:36,920 Speaker 1: but no, you're absolutely right, And I think you know 35 00:01:37,000 --> 00:01:39,720 Speaker 1: what Amazon is really missing is that kind of entertainment 36 00:01:39,840 --> 00:01:42,320 Speaker 1: value on their app, right, And I think that's what 37 00:01:42,360 --> 00:01:44,800 Speaker 1: they're thinking about when they're looking at this TikTok big. Well, 38 00:01:44,800 --> 00:01:47,480 Speaker 1: that's exactly in a lot of ways you look at it, 39 00:01:47,520 --> 00:01:49,840 Speaker 1: and it could be the perfect synergy, right because it's 40 00:01:50,400 --> 00:01:53,120 Speaker 1: a content based app TikTok, and then it leads you 41 00:01:53,160 --> 00:01:55,640 Speaker 1: to purchases on Amazon. I mean, that could potentially be 42 00:01:55,680 --> 00:01:57,320 Speaker 1: a dream come true for Amazon if it does come 43 00:01:57,320 --> 00:01:57,760 Speaker 1: to fruition. 44 00:01:59,280 --> 00:01:59,480 Speaker 2: Yeah. 45 00:01:59,520 --> 00:02:02,080 Speaker 3: The other thing we should point out Jinx's indeed is 46 00:02:02,080 --> 00:02:04,200 Speaker 3: something that caught our attention to is that Amazon talking 47 00:02:04,200 --> 00:02:07,040 Speaker 3: about launching the first batch of satellites to power its 48 00:02:07,040 --> 00:02:09,600 Speaker 3: Internet from space initiative as soon as April ninth. 49 00:02:09,639 --> 00:02:12,840 Speaker 4: But you think about Project Kuiper exactly. 50 00:02:12,440 --> 00:02:16,440 Speaker 3: And going after what SpaceX is doing right already with 51 00:02:16,520 --> 00:02:19,160 Speaker 3: a lot of low orbit satellites, and so you wonder 52 00:02:19,400 --> 00:02:21,239 Speaker 3: kind of what might happen with that and whether this 53 00:02:21,280 --> 00:02:22,200 Speaker 3: could be a big business for that. 54 00:02:22,320 --> 00:02:24,400 Speaker 4: Okay, you said SpaceX, So maybe that's a good segue 55 00:02:24,440 --> 00:02:28,239 Speaker 4: to talk Tesla, Christine. This one was well over the place. 56 00:02:28,000 --> 00:02:31,120 Speaker 1: Today, all over the place. Yeah, that was quite the 57 00:02:31,240 --> 00:02:33,959 Speaker 1: u turn. I mean, we've seen Tesla shares now up 58 00:02:34,200 --> 00:02:36,799 Speaker 1: more than five percent, and earlier it was down more 59 00:02:36,840 --> 00:02:39,360 Speaker 1: than six percent. So yeah, that is quite the turn 60 00:02:39,440 --> 00:02:42,000 Speaker 1: for that stock today. And it's all because of one man, 61 00:02:42,120 --> 00:02:46,080 Speaker 1: Elon Musk, because we are getting some reports earlier from 62 00:02:46,120 --> 00:02:49,960 Speaker 1: Politico saying that Elon Musk's time as a top advisor 63 00:02:50,040 --> 00:02:52,920 Speaker 1: to Donald Trump may end soon. Although Musk himself pushed 64 00:02:52,960 --> 00:02:55,640 Speaker 1: back against that. He did call it fake news in 65 00:02:55,720 --> 00:02:57,760 Speaker 1: his words, and we also got the White House Press 66 00:02:57,760 --> 00:03:01,600 Speaker 1: Secretary pushing back against it. But yeah, that's in the works, 67 00:03:01,639 --> 00:03:04,120 Speaker 1: and that was enough. Just that report was enough to 68 00:03:04,440 --> 00:03:07,120 Speaker 1: push that stock back up after a poor sales report earlier. 69 00:03:07,200 --> 00:03:09,320 Speaker 3: Yeah, investors are maybe hoping he comes back home to 70 00:03:09,360 --> 00:03:11,440 Speaker 3: the company right and focuses on the business because it 71 00:03:11,520 --> 00:03:13,960 Speaker 3: certainly has been battered around the world because of some 72 00:03:14,000 --> 00:03:16,680 Speaker 3: of his political comments and his affiliation, certainly with the 73 00:03:16,680 --> 00:03:20,280 Speaker 3: Trump administration. Consumers which tend to be more liberal, I 74 00:03:20,320 --> 00:03:22,680 Speaker 3: think right safe to say that by Tesla Cars have 75 00:03:22,760 --> 00:03:24,359 Speaker 3: maybe not been so happy with what he has said. 76 00:03:24,480 --> 00:03:27,359 Speaker 4: Caroline Levit in the White House, she called it quote garbage, 77 00:03:27,360 --> 00:03:29,560 Speaker 4: which Carol and I had a little debate about what 78 00:03:29,600 --> 00:03:32,720 Speaker 4: that actually meant. I look at that as a denial, 79 00:03:32,840 --> 00:03:34,720 Speaker 4: but you said garbage can mean anything, Carol. 80 00:03:34,800 --> 00:03:37,240 Speaker 3: Well, so like you said, she didn't say it's not true. 81 00:03:37,640 --> 00:03:41,200 Speaker 3: She said it's garbage. Yeah, so she could be like garbage, but. 82 00:03:41,480 --> 00:03:45,080 Speaker 4: Strongly, honestly, I think you're right. I think you're right, 83 00:03:45,120 --> 00:03:46,520 Speaker 4: and I think that's a really smart way to look 84 00:03:46,520 --> 00:03:49,120 Speaker 4: at it. My immediate reaction is she's just she's denying 85 00:03:49,120 --> 00:03:50,480 Speaker 4: it if she's saying it's garbage. 86 00:03:50,480 --> 00:03:53,600 Speaker 1: But feels so noncommittal though becase, yes, I don't know. 87 00:03:54,320 --> 00:03:57,960 Speaker 3: Investors definitely not noncommittal when it comes to Newsmax over 88 00:03:58,000 --> 00:04:00,200 Speaker 3: the last couple of days. But today we saw bit 89 00:04:00,200 --> 00:04:02,040 Speaker 3: of a different trend. We saw a bunch of. 90 00:04:01,960 --> 00:04:06,200 Speaker 1: Selling absolutely, Carol, it plunged seventy seven percent, so that 91 00:04:06,240 --> 00:04:09,320 Speaker 1: erased more than twenty three billion dollars of value from 92 00:04:09,400 --> 00:04:11,880 Speaker 1: the company. It's only its third day of training as 93 00:04:11,880 --> 00:04:15,520 Speaker 1: a public company, so that's quite a turn again. But 94 00:04:15,600 --> 00:04:17,839 Speaker 1: you know, it's still up more than five hundred percent 95 00:04:17,960 --> 00:04:20,440 Speaker 1: or more than four hundred percent, i should say, from 96 00:04:20,440 --> 00:04:23,000 Speaker 1: its offer prize. And you know it's markets gap still 97 00:04:23,000 --> 00:04:26,520 Speaker 1: at six billion dollars. So that's a pretty nice cushy 98 00:04:26,640 --> 00:04:27,279 Speaker 1: cushion there. 99 00:04:27,360 --> 00:04:29,280 Speaker 3: What was the market cap yesterday, tim. 100 00:04:29,200 --> 00:04:32,600 Speaker 4: More than twenty nine billion dollars, close to thirty billion dollars. 101 00:04:32,600 --> 00:04:35,080 Speaker 3: Crazy how many is bounced around. But you're right, if 102 00:04:35,120 --> 00:04:36,800 Speaker 3: you bought it at the IPO, you still made a 103 00:04:36,800 --> 00:04:37,359 Speaker 3: pretty penny. 104 00:04:37,400 --> 00:04:37,960 Speaker 1: Absolutely. 105 00:04:38,000 --> 00:04:41,520 Speaker 4: So just to sort of look at some comparable companies, 106 00:04:41,560 --> 00:04:44,280 Speaker 4: the New York Times, for example, has a market cap 107 00:04:44,320 --> 00:04:49,120 Speaker 4: of eight point one billion dollars. I believe Paramount has 108 00:04:49,120 --> 00:04:52,120 Speaker 4: a market cap of around eight billion dollars roughly. I'm 109 00:04:52,120 --> 00:04:55,000 Speaker 4: talking rough here, So just to compare media companies. 110 00:04:55,480 --> 00:04:59,160 Speaker 3: Heard Alex Steel say, hey, media is back about what 111 00:04:59,160 --> 00:05:01,120 Speaker 3: we've seen, certainly in terms of the run up in 112 00:05:01,160 --> 00:05:02,600 Speaker 3: the last two days. A little bit of a different 113 00:05:02,680 --> 00:05:04,320 Speaker 3: tone today. 114 00:05:05,800 --> 00:05:10,160 Speaker 2: The Stockmovers podcast from Bloomberg Radio. Check back with us 115 00:05:10,200 --> 00:05:13,119 Speaker 2: throughout the day for the latest roundup of companies making 116 00:05:13,200 --> 00:05:16,760 Speaker 2: news on Wall Street and for the latest market moving headlines. 117 00:05:16,920 --> 00:05:20,839 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 118 00:05:20,920 --> 00:05:23,719 Speaker 2: dot com, and on Applecarplay and Android Auto with the 119 00:05:23,720 --> 00:05:25,119 Speaker 2: Bloomberg Business app.