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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: This is the closing bell on this stock movers report.

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Speaker 2: The company's making moves at the close of US trading

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Speaker 2: with Carol Masser, Tim Stenobeck, Romaine Bostick, and Scarlet Food.

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Speaker 3: You've got most names in the S and P lower

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Speaker 3: three hundred and thirteen losing ground on this FED decision, Eve,

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Speaker 3: if you will, one hundred and eighty eight to the

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Speaker 3: F side too.

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Speaker 1: Ut celebrate. Did you put little stockings up over your desk?

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Speaker 3: Yeah, it's exactly Yeah, little dollar bills, little treasury bill.

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Speaker 4: I plug in my money printer. Let's take a look

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Speaker 4: at the sector level that's on as well. You have

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Speaker 4: the circle there. It's pretty much an even split. Maybe

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Speaker 4: waited a little bit more to the red. The energy

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Speaker 4: sector was your bright spot today, up about one point

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Speaker 4: seven percent. You can see that tech overall was red.

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Speaker 4: Utilities was your biggest loser on the day, though, that's

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Speaker 4: after Donna about one point eight percent. All told, five green,

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Speaker 4: six round Carol.

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Speaker 5: All right, so let's get to some of the individual gainers.

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Speaker 3: Had to quick switch in Oracle after that headline cross

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Speaker 3: the Bloomberg. The Wall Street Journal came out coming out

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Speaker 3: and saying US investors including Oracles, silver Lake and Andrees

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Speaker 3: and Horowitz, would control TikTok's US business. According to people familiar,

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Speaker 3: sounds like there's a lot to be figured out and

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Speaker 3: an interesting entity in terms of the board and who

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Speaker 3: does what and who owns what. But we talked to

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Speaker 3: our Bradstone about it. He said, there's like maybe some

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Speaker 3: friction when it comes to maybe users ultimately signing on

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Speaker 3: with Just.

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Speaker 1: To be clear, Carol, I mean, so the Chinese have

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Speaker 1: agreed to this, is that the idea.

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Speaker 3: I get, that's what it seems to say, But it's

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Speaker 3: kind of odd because you know, it sounds like eighty

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Speaker 3: percent owned by investors. I think there's still a Chinese

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Speaker 3: position in this US entity. It sounds like there's maybe

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Speaker 3: some new algorithms. There's a lot that makes me I

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Speaker 3: don't know.

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Speaker 6: As we spoke to Bradstone about this earlier and he said,

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Speaker 6: if people actually have to download a new app like

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Speaker 6: this looks like a pretty big win for a company

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Speaker 6: like Meta Platforms or Alphabet that has YouTube, that's done

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Speaker 6: a good job with Instagram and YouTube short it's kind

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Speaker 6: of going into TikTok's territory.

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Speaker 5: It's hard.

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Speaker 6: That's friction, he said, to make users download a new app,

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Speaker 6: So what.

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Speaker 3: If it's not as good as the old app? Great,

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Speaker 3: which everybody has loved. In terms of the algorithm, what's

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Speaker 3: interesting too. And I think we had an earlier story

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Speaker 3: on the Bloomberg about Oracle and their cloud contract that

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Speaker 3: they had with TikTok, and so maybe that's part of

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Speaker 3: why we're seeing Oracle also higher. So TVD more to

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Speaker 3: be known, but nonetheless, Oracle popped up one and a

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Speaker 3: half percent in today's session. I want to mention Maderna

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Speaker 3: as well, that went up about four percent.

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Speaker 1: Hires.

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Speaker 3: The company says it's new COVID nineteen formula of its

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Speaker 3: spikevax vaccine produced a strong immune response against the dominant

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Speaker 3: variant that's out there, and so we've been getting some

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Speaker 3: information on that. This is what though in this report

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Speaker 3: I thought was interesting. Guys, company said, CDC data from

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Speaker 3: US wastewater shows COVID nineteen xectivity is high. What does

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Speaker 3: that make you feel good?

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Speaker 1: Do we not just get these numbers out of the CDCY.

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Speaker 5: You know you're on fire here. Hey.

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Speaker 3: Tesla up almost three percent in today's session, continuing to

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Speaker 3: gain I think, moving up to its highest level since

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Speaker 3: about late January. And this is despite the US National

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Speaker 3: Highway Traffic Safety Administration opening investigation to whether some Tesla

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Speaker 3: vehicle doors are defective. It's a really scary story that's

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Speaker 3: out there. But nonetheless, stock is up six days in

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Speaker 3: a row for a gain of about twenty twenty one percent,

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Speaker 3: and up about four percent yere date.

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Speaker 5: So investors continuing to move into Tesla tip.

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Speaker 6: Okay, you got the gainers, I got the decliners. I

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Speaker 6: want to start with Warner Brothers Discovery actually falling today

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Speaker 6: six point two percent. Shares fell after TD Cowen downgraded

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Speaker 6: to hold from buy after the stock rally, even as

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Speaker 6: Paramount still has not made an official offer for this company. Separately,

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Speaker 6: Center Elizabeth Warren earlier this morning, Democrat of Massachusetts posted

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Speaker 6: on that the Paramount Warner Brothers deal should be blocked.

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Speaker 1: Can I gave you some mentel We had Laura Martin

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Speaker 1: over at Needham, Yeah, and she'd mentioned something that I

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Speaker 1: had kind of was lost to me, and it was

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Speaker 1: about David Aslow's recent contract and how he actually stands

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Speaker 1: to make in her words, about something upwards of like

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Speaker 1: four hundred million dollars if he does broker a sale

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Speaker 1: above seventeen dollars a share for Warner Brothers by the

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Speaker 1: end of next year.

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Speaker 6: Okay, shares right now eighteen dollars and twenty five cents.

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Speaker 5: Yeah, some would say he's really good.

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Speaker 6: With I was going to say, it's not the first

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Speaker 6: time he's had a windfall in his career.

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Speaker 1: He's a savvy guy.

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Speaker 6: Yeah, he really is. Hey, taking a look at a

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Speaker 6: stock that actually was pretty moved quite low early in

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Speaker 6: the session, especially before the market's opened. It fell as

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Speaker 6: much as four percent Ralph Lauren today, only following by

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Speaker 6: four tenths of one percent. The company did come out

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Speaker 6: and say that it sees revenue growth remaining similar to

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Speaker 6: recent rates over the next three years. This according to

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Speaker 6: the company's latest strategic outlook. The company's projecting sales to

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Speaker 6: grow at mid single digit percentage annually through fiscal twenty

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Speaker 6: twenty eight. According to a statement out today, it's roughly

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Speaker 6: in line with estimates for analysts compiled by Bloomberg, but it's

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Speaker 6: also slower than the company is supposed to be.

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Speaker 1: Well, yeah, my niece was in town. I took her

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Speaker 1: to the Ralph Laren You know the coffee shop there

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Speaker 1: on Madison Avenue, and she wanted a hat.

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Speaker 6: It was like sixty dollars for basic And did you

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Speaker 6: so you got her too?

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Speaker 1: I don't know, but I mean you can imagine a

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Speaker 1: mark up on that.

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Speaker 5: Hey you know, come on, you know about fancy dressing.

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Speaker 5: I don't, Yes, you do, I don't. I'm just a

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Speaker 5: humble You didn't buy her the hat? Humble man, Yeah,

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Speaker 5: we've seen those, you know, my shop at Burlington.

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Speaker 6: Finally, The New York Times, not.

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Speaker 5: That there's anything wrong with Burlington.

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Speaker 6: The New York Times down one point six percent today,

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Speaker 6: watching shares of The New York Times all day today.

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Speaker 6: After the president early this morning, SETI filed a fifteen

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Speaker 6: billion dollar defamation suit against the company as well as

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Speaker 6: Penguin Random House, accusing the paper of serving as a

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Speaker 6: quote mouthpiece for the Democrats. The New York Times set

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Speaker 6: in a statement, the lawsuit has no merit and is

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Speaker 6: an attempt to stifle and discourage independent reporting, and The

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Speaker 6: Times will not be deterred by intimidation tactics. By the way,

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Speaker 6: the market cap nine and a half billion dollars for

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Speaker 6: The New York Times. The defamation line suit fifteen billion dollars.

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Speaker 1: All right, let's keep an eye on where rates went,

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Speaker 1: and of course rates went where we expected them to

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Speaker 1: go down once again here in anticipation of what everyone

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Speaker 1: seems to expect is going to be a rate cut tomorrow,

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Speaker 1: but more importantly the start of a rate cutting cycle.

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Speaker 1: We had Mark, we had a couple of people on

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Speaker 1: earlier today. You kind of talked about this idea, it's

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Speaker 1: not just going to be twenty five in September that

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Speaker 1: we could get think with Barry Knapp, right, katies, and

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Speaker 1: we could actually get one hundred basis points between now

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Speaker 1: and end of January.

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Speaker 4: That's what he would like to say.

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Speaker 5: Yes, Yeah, TBD.

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Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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Speaker 2: the Bloomberg Business app.