1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,079 --> 00:00:20,200 Speaker 1: I'm Tim Steneveek along with Isabel Lee. Let's take a 5 00:00:20,200 --> 00:00:22,279 Speaker 1: look at some stocks on the move today. We're joined 6 00:00:22,280 --> 00:00:27,040 Speaker 1: by Bloomberg News Cross Asset reporter Emily Graffeo. What's up, Emily. 7 00:00:27,320 --> 00:00:32,120 Speaker 3: Hello, So we had a lot of individual movers today 8 00:00:32,280 --> 00:00:36,120 Speaker 3: in the market. TKO Holdings was one that caught my eye. 9 00:00:36,159 --> 00:00:40,440 Speaker 3: This is ticker TKO. There are sports entertainment company, owner 10 00:00:40,479 --> 00:00:44,040 Speaker 3: of the UFC and WWE. It jumped ten percentaive is 11 00:00:44,080 --> 00:00:46,680 Speaker 3: the biggest jump in over a year. And this, of 12 00:00:46,680 --> 00:00:50,640 Speaker 3: course is after Paramount Paramount sky Dance acquired the exclusive 13 00:00:50,760 --> 00:00:54,160 Speaker 3: rights to show all the events from the UFC in 14 00:00:54,200 --> 00:00:57,240 Speaker 3: the US over the next seven years. So this is 15 00:00:57,280 --> 00:01:00,520 Speaker 3: a long deal. It's a big one too, seven point 16 00:01:00,520 --> 00:01:04,319 Speaker 3: seven billion dollars and of course it's coming after Paramount 17 00:01:04,319 --> 00:01:08,360 Speaker 3: and s Guidance completed their merger last week. David Ellison 18 00:01:08,800 --> 00:01:11,440 Speaker 3: is now at the helm of this new company and 19 00:01:11,480 --> 00:01:15,120 Speaker 3: he is really putting his stamp on Paramount since that 20 00:01:15,160 --> 00:01:20,800 Speaker 3: deal closed. What's interesting also about this is that right now, 21 00:01:20,840 --> 00:01:22,480 Speaker 3: if you want to watch UFC, you're going to do 22 00:01:22,560 --> 00:01:27,640 Speaker 3: that through ESPN, Disney's ESPN. The deal that UFC now 23 00:01:27,680 --> 00:01:30,360 Speaker 3: has with Paramount is it dramatic one hundred and twenty 24 00:01:30,360 --> 00:01:34,320 Speaker 3: percent jump from its current ESPN agreement. That's according to 25 00:01:34,360 --> 00:01:40,440 Speaker 3: a BI calculation. So, uh, this is really good for TKO. 26 00:01:40,600 --> 00:01:44,840 Speaker 3: They're getting a much better deal merging with Paramount. 27 00:01:44,920 --> 00:01:47,440 Speaker 1: Right now, you big USC fan UFC. 28 00:01:47,760 --> 00:01:48,080 Speaker 2: I'm not. 29 00:01:48,480 --> 00:01:51,800 Speaker 3: No, No one is not in our team, not in ourt. 30 00:01:52,120 --> 00:01:53,600 Speaker 1: True, that's control room. 31 00:01:53,720 --> 00:01:55,040 Speaker 3: Yeah, there's a lot of fans out there. 32 00:01:55,080 --> 00:01:58,280 Speaker 1: The fole likes it. Ari likes it. And I guess 33 00:01:58,320 --> 00:02:00,000 Speaker 1: the big deal is that it's not pay per view 34 00:02:00,080 --> 00:02:02,640 Speaker 1: you anymore. Right, It's like you just sign up for 35 00:02:02,680 --> 00:02:05,520 Speaker 1: a Paramount Plus stream Plus you can watch south Park 36 00:02:05,560 --> 00:02:08,239 Speaker 1: and you can watch people fight each other. 37 00:02:08,440 --> 00:02:11,440 Speaker 3: Yeah, I mean it's definitely. I again, if I were 38 00:02:11,440 --> 00:02:14,680 Speaker 3: a UFC fan, I would be signing up for Paramount 39 00:02:14,720 --> 00:02:19,680 Speaker 3: Plus so that I could watch the fights. So they 40 00:02:19,720 --> 00:02:22,359 Speaker 3: definitely are going to I mean, they're most likely going 41 00:02:22,360 --> 00:02:24,519 Speaker 3: to get a lot more subscribers here to Paramount Plus. 42 00:02:24,520 --> 00:02:27,880 Speaker 1: A lot of money though, seven point seven billion dollars 43 00:02:27,919 --> 00:02:29,080 Speaker 1: for seven years. 44 00:02:29,280 --> 00:02:31,359 Speaker 4: I don't know. I like pay per view because then 45 00:02:31,440 --> 00:02:33,840 Speaker 4: you just pay and you forget your subscription. 46 00:02:34,080 --> 00:02:39,200 Speaker 1: I have never pay per viewed anything like yeah. 47 00:02:39,360 --> 00:02:41,040 Speaker 3: I see, yeah, there's quite a. 48 00:02:41,040 --> 00:02:42,880 Speaker 1: Bit like a boxing fight, Like what are you pay 49 00:02:42,960 --> 00:02:43,440 Speaker 1: per viewing? 50 00:02:43,520 --> 00:02:43,800 Speaker 3: Yeah? 51 00:02:43,800 --> 00:02:46,079 Speaker 4: No, just exceptually. I actually don't pay per view. 52 00:02:47,880 --> 00:02:49,040 Speaker 1: You like the concept of pace. 53 00:02:49,160 --> 00:02:50,920 Speaker 4: I can't tell you how many subscriptions we had that 54 00:02:50,960 --> 00:02:53,240 Speaker 4: are unnecessary, and then when you cancel it, it's like, 55 00:02:53,280 --> 00:02:55,079 Speaker 4: oh fine, let me just run it through the whole year, 56 00:02:55,280 --> 00:02:57,320 Speaker 4: and then you tell yourself, let me cancel it, and 57 00:02:57,320 --> 00:02:59,400 Speaker 4: then that's month, and then you don't cancel. 58 00:02:59,480 --> 00:03:03,240 Speaker 1: So you're saying, problem is having the subscription that charges 59 00:03:03,280 --> 00:03:04,880 Speaker 1: you every month rather than yas me out. 60 00:03:04,919 --> 00:03:08,280 Speaker 4: Yes, my husband and I have separate subscriptions that shouldn't 61 00:03:08,320 --> 00:03:10,520 Speaker 4: be separate, like Amazon and New York Times. We always 62 00:03:10,560 --> 00:03:12,280 Speaker 4: forget two. 63 00:03:12,400 --> 00:03:15,160 Speaker 3: But think about from a consumer standpoint, you know how, 64 00:03:15,200 --> 00:03:18,120 Speaker 3: sometimes if you're sitting to watch a movie and like, 65 00:03:18,280 --> 00:03:21,119 Speaker 3: there's a choice between watching a subpar movie on Netflix 66 00:03:21,280 --> 00:03:25,160 Speaker 3: or renting a movie for like six dollars, what are 67 00:03:25,200 --> 00:03:26,799 Speaker 3: you gonna choose? You're like, oh, I don't want to 68 00:03:26,800 --> 00:03:29,440 Speaker 3: spend that six dollars In the subpart. I'm just gonna 69 00:03:29,440 --> 00:03:31,280 Speaker 3: watch the movie on Netflix, so I think it's it's 70 00:03:31,280 --> 00:03:34,079 Speaker 3: definitely a good move here for both TKO and Paramount. 71 00:03:34,160 --> 00:03:37,720 Speaker 4: Okay, till Ray, what's happening arijuana? 72 00:03:37,800 --> 00:03:40,800 Speaker 3: Okay, so till Ray brands. It was a big day 73 00:03:40,840 --> 00:03:43,960 Speaker 3: for cannabis linked companies. Till Ray is one of them, 74 00:03:44,000 --> 00:03:47,480 Speaker 3: perhaps the biggest beneficiary in terms of stock movement today 75 00:03:47,480 --> 00:03:51,600 Speaker 3: it was up forty one percent ticker tl r Y. 76 00:03:52,080 --> 00:03:54,800 Speaker 3: It was the biggest jump since twenty twenty one. Volume 77 00:03:54,880 --> 00:03:57,360 Speaker 3: was more than five times above average. And this is 78 00:03:57,400 --> 00:04:01,960 Speaker 3: after a report that Trump said he's considering reclassifying marijuana 79 00:04:02,040 --> 00:04:05,560 Speaker 3: as a less dangers drug. Right now, it's labeled as 80 00:04:05,560 --> 00:04:08,400 Speaker 3: a Schedule one drug, and the speculation is that it 81 00:04:08,440 --> 00:04:12,320 Speaker 3: would be moved down to Schedule three. This would bring 82 00:04:13,600 --> 00:04:17,640 Speaker 3: likely increased sales for the cannabis industry tax relief. For 83 00:04:17,720 --> 00:04:20,799 Speaker 3: an investment perspective, it's not really been a good bet 84 00:04:20,839 --> 00:04:23,920 Speaker 3: to be in cannabis stocks. If you look at one 85 00:04:24,200 --> 00:04:28,360 Speaker 3: cannabis ETF, the advisor shares pure Us Cannabis ETF, it's 86 00:04:28,360 --> 00:04:32,000 Speaker 3: down sixty percent over the last three years. It feels 87 00:04:32,000 --> 00:04:34,479 Speaker 3: like in this space there's always speculation that you know, 88 00:04:34,480 --> 00:04:36,400 Speaker 3: whoever is going to be in office next is going 89 00:04:36,440 --> 00:04:38,440 Speaker 3: to be better for the cannabis industry, and then we 90 00:04:38,440 --> 00:04:41,640 Speaker 3: see the stocks jump and then the move never holds. 91 00:04:41,839 --> 00:04:44,800 Speaker 3: But this would be a big deal for the industry 92 00:04:44,839 --> 00:04:46,520 Speaker 3: if the drug actually is reclassified. 93 00:04:47,600 --> 00:04:50,800 Speaker 4: And my favorite, Hershey's Hershy Being and Candyland. 94 00:04:51,240 --> 00:04:54,119 Speaker 3: So this stock is down five percent fel five percent 95 00:04:54,160 --> 00:04:59,520 Speaker 3: today ticker Hsy. It's actually been down for five straight sessions. 96 00:05:00,000 --> 00:05:03,599 Speaker 3: So what caught my eye with Hershey is that they're 97 00:05:03,800 --> 00:05:07,560 Speaker 3: noticing that Coco futures are climbing. In July, the company 98 00:05:07,600 --> 00:05:10,440 Speaker 3: said that it was raising candy costs and it wasn't 99 00:05:10,480 --> 00:05:12,719 Speaker 3: due to trade or tariffs. It was because of the 100 00:05:12,839 --> 00:05:17,440 Speaker 3: unprecedented what they called unprecedented cost of Coco. And we're seeing, 101 00:05:17,560 --> 00:05:22,400 Speaker 3: i guess today, renewed concern about weather and the West 102 00:05:22,440 --> 00:05:26,919 Speaker 3: African crop forecasts in the coming season, potentially putting further 103 00:05:27,000 --> 00:05:28,200 Speaker 3: upside pressure on Coco. 104 00:05:28,360 --> 00:05:30,159 Speaker 1: So not good for Hershey. 105 00:05:31,080 --> 00:05:35,080 Speaker 2: The Stock Mover's report from Bloomberg Radio. Check back with 106 00:05:35,160 --> 00:05:37,760 Speaker 2: us throughout the day for the latest roundup of companies 107 00:05:37,800 --> 00:05:40,880 Speaker 2: making news on Wall Street and for the latest market 108 00:05:40,960 --> 00:05:45,440 Speaker 2: moving headlines. Listen to Bloomberg Radio live. Catch us on YouTube, 109 00:05:45,520 --> 00:05:49,000 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 110 00:05:49,080 --> 00:05:50,559 Speaker 2: the Bloomberg Business app.