1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:17,680 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,920 --> 00:00:21,440 Speaker 1: I'm Jim Steneveek along with Isabell Lee, Bloomberg News cross 5 00:00:21,440 --> 00:00:26,000 Speaker 1: asset reporter. We're joined by another cross asset reporter Bloomberg 6 00:00:26,200 --> 00:00:30,320 Speaker 1: News is Danita Sakova. Denis is here with Stock Movers. 7 00:00:30,520 --> 00:00:33,040 Speaker 1: Let's take a look at some stocks on the move today. 8 00:00:33,320 --> 00:00:34,159 Speaker 1: What do you have your eye on. 9 00:00:34,320 --> 00:00:38,360 Speaker 3: Let's start with Johnson and Johnson. Natticker is Jay and Jay. 10 00:00:38,640 --> 00:00:43,360 Speaker 3: That's obviously one of the first healthcare companies reporting this 11 00:00:43,479 --> 00:00:50,560 Speaker 3: season and quarterly sales expectations. Beat raised its fueer outlook 12 00:00:51,040 --> 00:00:53,600 Speaker 3: and the stock jump more than six percent today. This 13 00:00:53,760 --> 00:00:57,160 Speaker 3: was its best day since the since March twenty twenty. 14 00:00:57,600 --> 00:01:00,400 Speaker 3: This is showing you confidence in pharmaceutical Indie Street. We've 15 00:01:00,400 --> 00:01:02,840 Speaker 3: been talking about Trump today, but that's one industry that 16 00:01:03,000 --> 00:01:06,679 Speaker 3: has been in the middle of tariffs crackdowns on drug pricing. 17 00:01:06,840 --> 00:01:09,800 Speaker 3: Just as recently as last week, Trump announced that he 18 00:01:09,920 --> 00:01:13,120 Speaker 3: may impose tires as high as two hundred percent on 19 00:01:13,240 --> 00:01:16,319 Speaker 3: drug companies. Obviously, as we saw today, a lot of 20 00:01:16,360 --> 00:01:20,080 Speaker 3: those things are you know, moving very fast, and we're 21 00:01:20,120 --> 00:01:22,199 Speaker 3: yet to see what's happening. But also the White House 22 00:01:22,200 --> 00:01:25,280 Speaker 3: has threatened to impose a policy that will force DRK 23 00:01:25,319 --> 00:01:28,240 Speaker 3: company to charge the US government the lowest prices they 24 00:01:28,240 --> 00:01:30,680 Speaker 3: offer to other wealthy countries. So there are a lot 25 00:01:30,680 --> 00:01:34,600 Speaker 3: of changes. But clearly what we're seeing from earnings reports 26 00:01:34,640 --> 00:01:36,360 Speaker 3: is that investors are shrigging this off. 27 00:01:36,440 --> 00:01:37,039 Speaker 2: They are very. 28 00:01:36,880 --> 00:01:39,800 Speaker 3: Optimistic about the report. J and J is a fourteen 29 00:01:39,840 --> 00:01:44,839 Speaker 3: percent year today, a strong second quarter, just really strong 30 00:01:45,120 --> 00:01:48,200 Speaker 3: earnings report overall, and a good start of darning seasons 31 00:01:48,200 --> 00:01:49,080 Speaker 3: for those companies. 32 00:01:49,440 --> 00:01:52,280 Speaker 4: What about Morgan Stanley's Doc Traders for their best second 33 00:01:52,320 --> 00:01:54,400 Speaker 4: quarter on record? What about that? 34 00:01:54,120 --> 00:01:57,880 Speaker 3: That was really fascinating, right, a really strong earnings report. 35 00:01:57,960 --> 00:02:00,760 Speaker 3: The stock was down and actually it fell as much 36 00:02:00,760 --> 00:02:04,760 Speaker 3: as four point five percent close one point percent, one 37 00:02:04,800 --> 00:02:08,840 Speaker 3: and a half percent lower. Ticker is MS. Of course, 38 00:02:08,880 --> 00:02:11,720 Speaker 3: the good news was Doc Traders scoring their best ever 39 00:02:11,800 --> 00:02:15,640 Speaker 3: second quarter. This is something we saw for trading revenue 40 00:02:15,639 --> 00:02:18,799 Speaker 3: across big banks obviously was we continue to see big 41 00:02:18,880 --> 00:02:23,760 Speaker 3: volatility and that benefits and that benefits trading. But one 42 00:02:23,880 --> 00:02:28,480 Speaker 3: reason we're seeing this drop today is their investment banking revenue. 43 00:02:29,000 --> 00:02:32,760 Speaker 3: It actually beat estimates, but it fell five percent to 44 00:02:32,880 --> 00:02:37,080 Speaker 3: one point five billion, and you know, we saw some 45 00:02:37,200 --> 00:02:40,080 Speaker 3: increase in equity under writing, but that's definitely putting some pressure. 46 00:02:40,320 --> 00:02:43,720 Speaker 3: Some people are also saying that bank valuation are getting 47 00:02:43,760 --> 00:02:47,400 Speaker 3: pretty expensive. That's what we're hearing at one reason that 48 00:02:47,440 --> 00:02:50,600 Speaker 3: potentially we're seeing some pressure on Morgan Stealy. Today the 49 00:02:50,680 --> 00:02:54,079 Speaker 3: shares had rallied more than forty percent since the April low, 50 00:02:54,520 --> 00:02:59,760 Speaker 3: so clearly some big rise there, and that's really this 51 00:03:00,040 --> 00:03:02,920 Speaker 3: earning season. Banks are not seeing so many big gains 52 00:03:02,960 --> 00:03:05,880 Speaker 3: at least today. We're not seeing that crazy orphoric reaction. 53 00:03:06,280 --> 00:03:08,640 Speaker 4: That's a great point because some people haven't brought up 54 00:03:08,680 --> 00:03:10,880 Speaker 4: that banks have been viewed in the past as utility, 55 00:03:10,919 --> 00:03:13,320 Speaker 4: but now maybe they're more growthy and investors are just 56 00:03:13,360 --> 00:03:16,280 Speaker 4: expecting more and more and more. So maybe that's why 57 00:03:16,320 --> 00:03:20,080 Speaker 4: stocks haven't really moved even if earnings have been great. Okay, 58 00:03:20,200 --> 00:03:22,160 Speaker 4: what's next. I know your next talk is something I'm 59 00:03:22,200 --> 00:03:23,320 Speaker 4: not too familiar with. 60 00:03:23,840 --> 00:03:28,239 Speaker 3: You probably are. It's actually United Natural Foods, which distributes 61 00:03:28,320 --> 00:03:30,280 Speaker 3: to Whole Foods, so it's a lot of those healthy 62 00:03:30,320 --> 00:03:33,639 Speaker 3: brands you can think of. It jumped to twelve percent. 63 00:03:33,840 --> 00:03:37,000 Speaker 3: This is the biggest intry day jump since March. The 64 00:03:37,040 --> 00:03:41,960 Speaker 3: food distributor providing investors with much anticipated new guidance view. 65 00:03:42,040 --> 00:03:44,560 Speaker 3: It was much better than feared. But it was very 66 00:03:44,560 --> 00:03:48,760 Speaker 3: interesting because last time they used to have a cyber 67 00:03:48,840 --> 00:03:53,800 Speaker 3: attack and the outlook was put. The distributor to Whole 68 00:03:53,800 --> 00:03:58,360 Speaker 3: Foods and other healthy grocery chains said that it now 69 00:03:58,400 --> 00:04:02,640 Speaker 3: expects revenue of thirty one zero point six billion for 70 00:04:02,680 --> 00:04:06,200 Speaker 3: the full fiscal year. That's significantly higher than what they 71 00:04:06,240 --> 00:04:10,240 Speaker 3: previously expected. That justman reflects a strong performance for the 72 00:04:10,280 --> 00:04:16,600 Speaker 3: first three fiscal quarters. The cyber attack overshadowed their third 73 00:04:16,680 --> 00:04:20,400 Speaker 3: quarter results and actually tumbled nine percent on that day 74 00:04:20,440 --> 00:04:23,920 Speaker 3: when the food dist declined to update this full year outlook. 75 00:04:24,080 --> 00:04:26,560 Speaker 3: But now we're seeing a lot of optimism, including a 76 00:04:26,720 --> 00:04:31,200 Speaker 3: CFRA analyst which upgraded to stock to buy from Holt. 77 00:04:31,360 --> 00:04:35,800 Speaker 3: Stock is still down here to date, but massive books today. 78 00:04:36,560 --> 00:04:40,680 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 79 00:04:40,760 --> 00:04:43,520 Speaker 2: us throughout the day for the latest roundup of companies 80 00:04:43,560 --> 00:04:46,599 Speaker 2: making news on Wall Street and for the latest market 81 00:04:46,640 --> 00:04:51,040 Speaker 2: moving headlines. 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