1 00:00:02,520 --> 00:00:09,040 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 --> 00:00:17,919 Speaker 2: the stock market, harnessing the power of Bloomberg Data. Let's 4 00:00:17,920 --> 00:00:19,319 Speaker 2: take a look at some of the stocks on the 5 00:00:19,320 --> 00:00:22,280 Speaker 2: move today. I'm Paul Swinging alongside Lisa Mateo and we're 6 00:00:22,360 --> 00:00:23,279 Speaker 2: joined today by Bloomberg. 7 00:00:23,400 --> 00:00:25,680 Speaker 1: Christine. You know, Christine, what are you looking at? Taking 8 00:00:25,680 --> 00:00:28,560 Speaker 1: a look at Amazon today, Paul, because it's Prime Day, 9 00:00:28,600 --> 00:00:32,640 Speaker 1: which is actually four days starting today. So Amazon ticker 10 00:00:32,720 --> 00:00:35,400 Speaker 1: am Z and not doing so well. Actually it sounds 11 00:00:35,400 --> 00:00:38,559 Speaker 1: seven tenths of one percent at the moment. So, as 12 00:00:38,600 --> 00:00:42,080 Speaker 1: we mentioned, Prime Day starts today, and the expectation by 13 00:00:42,159 --> 00:00:45,479 Speaker 1: Adobe analyst Vivic Pondia is that the price drops will 14 00:00:45,479 --> 00:00:48,760 Speaker 1: be probably steepest in apparel, electronics, and TVs. So these 15 00:00:48,760 --> 00:00:52,199 Speaker 1: are your high ticket sort of spending items, right that 16 00:00:52,240 --> 00:00:55,640 Speaker 1: will probably be the most discounted in Adobe expecting Amazon 17 00:00:55,760 --> 00:00:58,400 Speaker 1: and other US retailers to generate more than twenty three 18 00:00:58,480 --> 00:01:02,200 Speaker 1: billion dollars in online sales during the event. But it 19 00:01:02,280 --> 00:01:05,520 Speaker 1: seems to be that there's very more subdued up to 20 00:01:05,560 --> 00:01:09,760 Speaker 1: appetite for shoppers this year. Acinea, which does retailer survey 21 00:01:09,840 --> 00:01:12,839 Speaker 1: shows that of one thousand US shoppers, only one in four, 22 00:01:13,000 --> 00:01:15,720 Speaker 1: or rather one in four, plan to skip Prime Day 23 00:01:15,760 --> 00:01:17,880 Speaker 1: because of tariffs, and then more than half say that 24 00:01:17,920 --> 00:01:20,440 Speaker 1: they will closely monitor prices. Are you planning to buy 25 00:01:20,440 --> 00:01:24,120 Speaker 1: anything poll? No, I'm not a big price. Sometimes I 26 00:01:24,160 --> 00:01:25,840 Speaker 1: go on and like, I buy stuff I don't need 27 00:01:25,880 --> 00:01:28,039 Speaker 1: and it just sucks me in. So a lot of 28 00:01:28,080 --> 00:01:31,440 Speaker 1: regrets I try. Yes, it's the regret after. But there 29 00:01:31,480 --> 00:01:33,319 Speaker 1: are I have to say, there are some good deals, 30 00:01:33,360 --> 00:01:37,240 Speaker 1: especially those TVs like you were saying, all right, first Solar, Yeah, 31 00:01:37,319 --> 00:01:41,479 Speaker 1: first Solar ticker SLR exactly tough times, continuing down more 32 00:01:41,480 --> 00:01:43,479 Speaker 1: than three percent at the moment, three and a half 33 00:01:43,520 --> 00:01:45,880 Speaker 1: percent looking at those shares right now. And that is 34 00:01:45,959 --> 00:01:49,200 Speaker 1: because President Donald Trump in an executive order on Monday 35 00:01:49,560 --> 00:01:52,200 Speaker 1: calling for new rules that would restrict access to tax 36 00:01:52,240 --> 00:01:55,400 Speaker 1: incentives for solar and wind projects. And so you know, 37 00:01:55,480 --> 00:01:58,200 Speaker 1: on your Attacks and Spending Bill law that was signed 38 00:01:58,240 --> 00:02:01,840 Speaker 1: into law before we all went on a long weekend. 39 00:02:02,040 --> 00:02:05,080 Speaker 1: Solar wind developments are eligible for tax credits if they 40 00:02:05,080 --> 00:02:08,919 Speaker 1: begin construction within twelve months. But the speculation was that 41 00:02:08,919 --> 00:02:11,800 Speaker 1: that provision had urged the Freedom Caucus, and so the 42 00:02:11,840 --> 00:02:15,560 Speaker 1: Executive Order now which came on Monday, is being seen 43 00:02:15,680 --> 00:02:18,000 Speaker 1: as a way for President Donald Trump to kind of 44 00:02:18,000 --> 00:02:20,920 Speaker 1: strike a deal without caucus. So the plan is to 45 00:02:21,200 --> 00:02:25,040 Speaker 1: more closely scrutinize the incentives, and for Solar, being a 46 00:02:25,040 --> 00:02:30,679 Speaker 1: provider of such technology and equipment, definitely suffering those consequences today. Yeah, 47 00:02:30,720 --> 00:02:32,120 Speaker 1: here in the US and Europe too, a lot of 48 00:02:32,160 --> 00:02:35,280 Speaker 1: those European solar stocks to taking a hit. What about 49 00:02:35,480 --> 00:02:40,000 Speaker 1: Bank of America. Bank of America ticker BAC also extending declines, 50 00:02:40,000 --> 00:02:43,800 Speaker 1: that's now down two percent from the open. That stock 51 00:02:43,919 --> 00:02:47,840 Speaker 1: was caught to pulled from buy at HSBC and analysts 52 00:02:47,840 --> 00:02:51,800 Speaker 1: are citing valuations that are increasingly stretched after a rally 53 00:02:51,800 --> 00:02:53,280 Speaker 1: in the bank stock. I feel like you could say 54 00:02:53,280 --> 00:02:56,320 Speaker 1: that for a lot of equities just in general, but 55 00:02:56,760 --> 00:03:00,440 Speaker 1: focuses on banks particularly, and you know, HBC analys saying 56 00:03:00,480 --> 00:03:04,079 Speaker 1: that fundamentals are strong, they like credit quality and an 57 00:03:04,120 --> 00:03:08,120 Speaker 1: improving investment banking environment, but those are all well priced in. 58 00:03:09,120 --> 00:03:12,080 Speaker 1: Hbcdo raising its price target for Bank of America to 59 00:03:12,320 --> 00:03:14,919 Speaker 1: fifty one dollars from forty seven dollars, so that's currently 60 00:03:14,919 --> 00:03:17,600 Speaker 1: in line with the current share price. And a reminder 61 00:03:17,680 --> 00:03:21,680 Speaker 1: that Bank of America reports on July sixteenth, so that's. 62 00:03:21,560 --> 00:03:26,799 Speaker 2: Just around the corner. The Stock Movers podcast from Bloomberg Radio. 63 00:03:27,200 --> 00:03:29,520 Speaker 2: Check back with us throughout the day for the latest 64 00:03:29,560 --> 00:03:32,720 Speaker 2: roundup of companies making news on Wall Street and for 65 00:03:32,800 --> 00:03:36,680 Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live, 66 00:03:37,080 --> 00:03:40,360 Speaker 2: catch us on YouTube, Bloomberg dot com, and on Applecarplay 67 00:03:40,400 --> 00:03:42,960 Speaker 2: and Android Auto with the Bloomberg Business app.