WEBVTT - Amazon, Coty Plunge on Earnings; Crypto Rises

0:00:02.520 --> 0:00:08.720
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

0:00:08.720 --> 0:00:12.560
<v Speaker 2>Stock Movers report, your roundup of companies making moves in

0:00:12.600 --> 0:00:16.040
<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

0:00:16.360 --> 0:00:18.160
<v Speaker 1>Let's take a look at some stocks on the move

0:00:18.200 --> 0:00:21.360
<v Speaker 1>today with US as Bloomberg News cross ass that reported Taniza.

0:00:21.000 --> 0:00:23.119
<v Speaker 3>Sikova patiently waiting for us.

0:00:23.280 --> 0:00:26.880
<v Speaker 1>Let's start with one of the few stocks that is

0:00:26.960 --> 0:00:29.120
<v Speaker 1>under pressure today, and it's a megacap.

0:00:29.400 --> 0:00:32.960
<v Speaker 4>Yeah, well, big megacap that is under a lot of pressure. Amazon.

0:00:33.000 --> 0:00:35.479
<v Speaker 4>We've been talking about it since the earnings, the decrease.

0:00:35.560 --> 0:00:38.840
<v Speaker 4>Amz and stock is down more than seven percent. Really,

0:00:38.840 --> 0:00:41.760
<v Speaker 4>we're seeing such a big recovery among all the losers

0:00:41.760 --> 0:00:43.159
<v Speaker 4>of the last few days. But this is not the

0:00:43.200 --> 0:00:46.000
<v Speaker 4>case for Amazon. The stock is already down ten percent

0:00:46.080 --> 0:00:48.600
<v Speaker 4>year today. The number that everyone has been talking about

0:00:48.680 --> 0:00:53.760
<v Speaker 4>is that two hundred billion investment. Data centers chips have

0:00:53.840 --> 0:00:57.960
<v Speaker 4>obviously investors surgitory about ANYI spending, especially in the last

0:00:58.000 --> 0:01:01.160
<v Speaker 4>few weeks. We saw similar reactions to micros of alphabet.

0:01:01.400 --> 0:01:04.760
<v Speaker 4>That's that Microsoft is up today, But what we saw

0:01:05.080 --> 0:01:07.559
<v Speaker 4>is that the COO is setting that the money will

0:01:07.600 --> 0:01:10.080
<v Speaker 4>go to the cloud business, to the Amazon Web Services

0:01:10.080 --> 0:01:12.839
<v Speaker 4>cloud business. But the important number that everyone is looking

0:01:12.840 --> 0:01:16.080
<v Speaker 4>at is their projection for profit. It was about sixteen

0:01:16.160 --> 0:01:20.039
<v Speaker 4>to twenty one billion, and it's lower than what analysts

0:01:20.080 --> 0:01:23.640
<v Speaker 4>were expecting. So obviously that's the big issue investors have

0:01:23.720 --> 0:01:26.560
<v Speaker 4>been looking at, and the moment it's denting profits, you

0:01:26.600 --> 0:01:29.080
<v Speaker 4>can see that investors are really punishing the stocks. Amazon

0:01:29.200 --> 0:01:32.000
<v Speaker 4>has been doing a lot of layoffs thirty thousands since October.

0:01:32.080 --> 0:01:34.600
<v Speaker 4>That's about ten percents of the corporate workforce. But the

0:01:34.640 --> 0:01:37.640
<v Speaker 4>company has had a pretty rough stretch and is not

0:01:37.800 --> 0:01:40.759
<v Speaker 4>caught in that big recovery that we're seeing today, and

0:01:40.840 --> 0:01:42.839
<v Speaker 4>as the buyers are emerging.

0:01:42.520 --> 0:01:44.160
<v Speaker 3>I got to say, I think it's safe to say

0:01:44.160 --> 0:01:46.560
<v Speaker 3>that Mark Mahoney over at ii ever Core a pretty

0:01:46.600 --> 0:01:53.040
<v Speaker 3>positive spin these hyperscalers big mega cap tech companies in

0:01:53.120 --> 0:01:56.400
<v Speaker 3>terms of the spend and buying for dominance in this world.

0:01:56.480 --> 0:01:57.920
<v Speaker 1>If you missed that an interview, check it out on

0:01:57.960 --> 0:01:58.960
<v Speaker 1>our podcast feed.

0:01:59.160 --> 0:02:01.800
<v Speaker 3>We like to do same plugs. Why now, Matt Miller

0:02:01.840 --> 0:02:04.160
<v Speaker 3>is not the only one who can do them all right,

0:02:04.200 --> 0:02:07.440
<v Speaker 3>So Amazon AMZ and of course is the ticker. Let's

0:02:07.480 --> 0:02:09.880
<v Speaker 3>go to another one, a subject that we've been talking

0:02:09.919 --> 0:02:12.639
<v Speaker 3>a lot too, and that is the crypto universe.

0:02:12.400 --> 0:02:16.360
<v Speaker 4>Complete reversal, and cryptolink stocks are on the top of this.

0:02:17.080 --> 0:02:20.120
<v Speaker 4>They're obviously bitcoin retracted. We almost had like a fifty

0:02:20.160 --> 0:02:23.360
<v Speaker 4>percent drop from its peak. Now we're around seventy thousand,

0:02:23.720 --> 0:02:26.480
<v Speaker 4>and all the companies that are associated with cryptocurrency pretty

0:02:26.560 --> 0:02:28.480
<v Speaker 4>much moved in line with that.

0:02:28.560 --> 0:02:28.800
<v Speaker 2>Bet.

0:02:28.840 --> 0:02:32.480
<v Speaker 4>We're looking at Strategy, mar Holdings, Coin Based, Robinhood, all

0:02:32.520 --> 0:02:36.200
<v Speaker 4>of those names really big reversals. Say Leading the Games

0:02:36.280 --> 0:02:40.680
<v Speaker 4>is a company that just reported earnings, micro Strategy. The ticker,

0:02:40.720 --> 0:02:43.640
<v Speaker 4>of course is MSTR. The stock is a twenty five

0:02:43.680 --> 0:02:46.840
<v Speaker 4>percent year today. But this is not about dirnings report. Actually,

0:02:46.919 --> 0:02:49.799
<v Speaker 4>the fundamentals from the earnings reports were pretty weak. The

0:02:49.840 --> 0:02:53.000
<v Speaker 4>bitcoin hoarding company confirmed a net loss of more than

0:02:53.080 --> 0:02:56.080
<v Speaker 4>twelve billion, but obviously investors are not looking for that.

0:02:56.560 --> 0:03:01.120
<v Speaker 4>It's a very strong sentiment day. That's the company is

0:03:01.160 --> 0:03:04.799
<v Speaker 4>now down about twelve percent. The company say Word has

0:03:04.800 --> 0:03:08.000
<v Speaker 4>said the company faces no margin calls. Everyone is asking,

0:03:08.040 --> 0:03:10.639
<v Speaker 4>obviously are they going to sell bitcoin? So far we're

0:03:10.760 --> 0:03:13.440
<v Speaker 4>not seeing this being the case. But another trend where

0:03:13.440 --> 0:03:15.960
<v Speaker 4>you're not seeing is the company is not buying bitcoin

0:03:16.080 --> 0:03:18.520
<v Speaker 4>at the moment, So perhaps that is telling, but it's.

0:03:18.360 --> 0:03:21.560
<v Speaker 1>Like on sale for them. That's what exactly.

0:03:21.720 --> 0:03:24.160
<v Speaker 3>Perhaps if you're a believer, right, this would be the time.

0:03:24.800 --> 0:03:25.800
<v Speaker 3>That's an opportunity.

0:03:25.960 --> 0:03:28.000
<v Speaker 4>If you like it at one hundreds, you should like

0:03:28.040 --> 0:03:28.560
<v Speaker 4>it now, right.

0:03:29.320 --> 0:03:31.960
<v Speaker 1>If you like it one d and twenty five thousand dollars,

0:03:32.000 --> 0:03:36.960
<v Speaker 1>you'd love it. It's seventy thousand unless unless the money

0:03:37.120 --> 0:03:38.120
<v Speaker 1>or I don't know, I don't know.

0:03:38.200 --> 0:03:39.920
<v Speaker 3>Do you think it can go even down?

0:03:39.960 --> 0:03:40.480
<v Speaker 4>More people?

0:03:41.000 --> 0:03:42.480
<v Speaker 1>Who knows? Who knows what way it goes?

0:03:42.520 --> 0:03:43.960
<v Speaker 3>You're into cosmetic companies, are you?

0:03:45.320 --> 0:03:47.640
<v Speaker 1>Yeah? Especially big one way or the other.

0:03:48.920 --> 0:03:54.800
<v Speaker 3>I don't know why I did that. Uncomfortable While we're

0:03:54.800 --> 0:03:56.760
<v Speaker 3>in this business, we all have to Yeah a little

0:03:56.760 --> 0:03:59.400
<v Speaker 3>bit quick? Yeah, should we talk Cody, Cody?

0:03:59.480 --> 0:04:02.960
<v Speaker 4>It's an interest. So the brands under it, Kayli Cosmetics, Gucci,

0:04:03.080 --> 0:04:06.240
<v Speaker 4>cover Girl, Sally Hanson. There are quite a few different

0:04:06.280 --> 0:04:08.440
<v Speaker 4>one even if you haven't heard the name, shares are

0:04:08.600 --> 0:04:12.280
<v Speaker 4>sliding those Today's stock is down fifteen percent. The beauty

0:04:12.280 --> 0:04:16.320
<v Speaker 4>company scraps its FISCO twenty twenty six Outlook, this is

0:04:16.360 --> 0:04:18.880
<v Speaker 4>not the first company that's reacting like that. We saw

0:04:18.920 --> 0:04:21.760
<v Speaker 4>a similar reaction by a still louder just yesterday. The

0:04:21.760 --> 0:04:25.520
<v Speaker 4>stock actually tumbled nineteen percent. Beauty industry is obviously an

0:04:25.520 --> 0:04:27.880
<v Speaker 4>interesting space to water when it comes to the economy,

0:04:28.920 --> 0:04:32.960
<v Speaker 4>So that kind of weakness we're seeing could be telling indicator.

0:04:33.279 --> 0:04:36.200
<v Speaker 4>And the company, it's said that they're seeing heightened promotional

0:04:36.320 --> 0:04:41.400
<v Speaker 4>environment and weakness in its consumer beauty business. They recently

0:04:41.640 --> 0:04:45.039
<v Speaker 4>got a stake in haircare brand Vela, So it's an

0:04:45.080 --> 0:04:48.320
<v Speaker 4>interesting company too. Lunch under a lot of pressure, and

0:04:48.839 --> 0:04:51.120
<v Speaker 4>you know, everyone is looking at the consumer and what's

0:04:51.120 --> 0:04:53.520
<v Speaker 4>been happening to it, and this perhaps is a good

0:04:53.520 --> 0:04:57.159
<v Speaker 4>indicator that maybe some of those discretionary spending is not

0:04:57.160 --> 0:04:57.719
<v Speaker 4>doing so well.

0:04:57.760 --> 0:04:59.200
<v Speaker 3>I don't know. And you don't have a lot to spend,

0:04:59.200 --> 0:05:00.680
<v Speaker 3>you know, they talk about, you know, you have money

0:05:00.680 --> 0:05:03.800
<v Speaker 3>to buy a lipsticks. It's a small purchase, Denisa, Thank

0:05:03.839 --> 0:05:06.799
<v Speaker 3>you so much. Stockmovers Podcast check it out by minute episodes,

0:05:06.839 --> 0:05:09.080
<v Speaker 3>Big winners, big losers in the stock market. Find out

0:05:09.080 --> 0:05:11.400
<v Speaker 3>on Apple, Spotify, or anywhere you get your podcasts.

0:05:12.600 --> 0:05:16.840
<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

0:05:16.839 --> 0:05:19.640
<v Speaker 2>throughout the day for the latest roundup of companies making

0:05:19.720 --> 0:05:23.360
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:05:23.560 --> 0:05:27.560
<v Speaker 2>Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

0:05:27.600 --> 0:05:30.680
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:05:30.720 --> 0:05:32.080
<v Speaker 2>Bloomberg Business App.