1 00:00:02,520 --> 00:00:08,800 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 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg data. 4 00:00:17,400 --> 00:00:19,319 Speaker 3: Let's take a look at some stocks on the move 5 00:00:19,480 --> 00:00:22,759 Speaker 3: this week. I'm Tim Staneveek with Isabelle Lee. We're joined 6 00:00:22,760 --> 00:00:26,759 Speaker 3: by Bloomberg News earnings reporter Red Brown. Red. What do 7 00:00:26,800 --> 00:00:28,360 Speaker 3: you have on your radar for the week? 8 00:00:28,400 --> 00:00:31,960 Speaker 4: That was first on my radar is Pallenteer had another 9 00:00:32,000 --> 00:00:35,960 Speaker 4: great week. That ticker is plt R. It's up eight 10 00:00:36,000 --> 00:00:39,159 Speaker 4: percent right about now, and it's been on a three 11 00:00:39,200 --> 00:00:40,720 Speaker 4: week winning streak. It's kind of been on a winning 12 00:00:40,720 --> 00:00:42,680 Speaker 4: streak all year. It's the best performing stock in the 13 00:00:42,760 --> 00:00:45,520 Speaker 4: S and P five hundred. It's already doubled and we're 14 00:00:45,520 --> 00:00:49,239 Speaker 4: only in July, so that's doing pretty well. 15 00:00:49,280 --> 00:00:51,160 Speaker 3: I'd say, I can't believe this is a three hundred 16 00:00:51,159 --> 00:00:54,040 Speaker 3: and sixty two billion dollar market cap company. 17 00:00:53,800 --> 00:00:57,200 Speaker 4: And on a revenue of one billion dollars or one billion, 18 00:00:57,320 --> 00:00:59,920 Speaker 4: less than a billion dollars a quarter. So the evaluation 19 00:01:00,080 --> 00:01:03,280 Speaker 4: is just out of control, But apparently not because people 20 00:01:03,280 --> 00:01:05,760 Speaker 4: are still piling in, as you can see from results 21 00:01:05,760 --> 00:01:06,160 Speaker 4: this week. 22 00:01:06,360 --> 00:01:08,000 Speaker 2: What about City City. 23 00:01:07,800 --> 00:01:10,080 Speaker 4: Yes, City, you know, I wanted to bring up City 24 00:01:10,120 --> 00:01:12,039 Speaker 4: just because the week that we just had with all 25 00:01:12,080 --> 00:01:14,959 Speaker 4: of the bank earnings coming out, City best performing for 26 00:01:15,000 --> 00:01:18,720 Speaker 4: the week for the six big banks, the big US 27 00:01:18,800 --> 00:01:22,520 Speaker 4: banks up seven percent or seven point eight percent excuse 28 00:01:22,560 --> 00:01:25,520 Speaker 4: me at the moment for the week. And that's really 29 00:01:25,560 --> 00:01:28,080 Speaker 4: off the back of just kind of there was lofty 30 00:01:28,120 --> 00:01:30,320 Speaker 4: expectations heading into the reports. I think, you know, people 31 00:01:30,319 --> 00:01:32,840 Speaker 4: were expecting trading to do quite well, and City still 32 00:01:32,840 --> 00:01:35,240 Speaker 4: blew it out of the water. Fixed income desk posted 33 00:01:35,240 --> 00:01:38,280 Speaker 4: revenue of four point three billion. Analysts were expecting three 34 00:01:38,280 --> 00:01:41,240 Speaker 4: point nine billion, and again that wasn't optimistic number. People 35 00:01:41,240 --> 00:01:43,800 Speaker 4: were expecting them to do well. And then we also 36 00:01:43,800 --> 00:01:46,959 Speaker 4: had strong results from JP Morgan. They raised their outlook 37 00:01:47,000 --> 00:01:50,360 Speaker 4: for the year. So so banks really still benefiting from 38 00:01:50,600 --> 00:01:54,640 Speaker 4: like the tariff volatility things like that. So strong results, 39 00:01:54,680 --> 00:01:57,240 Speaker 4: strong start for the earning season for at least that sector. 40 00:01:57,440 --> 00:02:00,360 Speaker 3: A lot of news around City this week. It wasn't 41 00:02:00,400 --> 00:02:02,600 Speaker 3: just that shares rose to the highest since two thousand 42 00:02:02,600 --> 00:02:04,920 Speaker 3: and eight on earnings and that stock buy back plan. 43 00:02:05,080 --> 00:02:07,000 Speaker 3: That's pretty wild. You'd go back to two thousand and eight. 44 00:02:07,040 --> 00:02:08,760 Speaker 3: Now it's the highest since then. That was a long 45 00:02:08,800 --> 00:02:11,320 Speaker 3: time ago, and we all know the history of City 46 00:02:11,400 --> 00:02:14,640 Speaker 3: during the financial crisis. But then also just a day later, 47 00:02:15,240 --> 00:02:18,640 Speaker 3: City Group poach two senior JP Morgan bankers in a 48 00:02:18,720 --> 00:02:21,880 Speaker 3: hiring push. They hired a Loke goup Day as the 49 00:02:21,919 --> 00:02:24,959 Speaker 3: global co head of ECM and then JP Morgan's Alex 50 00:02:25,000 --> 00:02:28,160 Speaker 3: Watkins as head of Tech Financing. So a lot of 51 00:02:28,200 --> 00:02:29,280 Speaker 3: news around City this week. 52 00:02:29,320 --> 00:02:31,640 Speaker 4: Yeah, I mean, it feels like finance in general is 53 00:02:31,680 --> 00:02:33,919 Speaker 4: just like it's always competitive obviously, but does feel like 54 00:02:33,960 --> 00:02:37,120 Speaker 4: things are really heating up and it's not always that way. 55 00:02:37,120 --> 00:02:39,760 Speaker 4: You know, banks can sometimes be a difficult stock to trade, 56 00:02:39,800 --> 00:02:42,320 Speaker 4: but at the moment, it just feels like kind of 57 00:02:42,600 --> 00:02:45,079 Speaker 4: all systems go at across Wall Street. 58 00:02:45,760 --> 00:02:47,680 Speaker 3: We like Red Brown because he kind of brings us 59 00:02:47,840 --> 00:02:52,000 Speaker 3: stocks we don't talk about each and every day. For example, 60 00:02:52,560 --> 00:02:55,760 Speaker 3: Senteen is one of the ones for this week in 61 00:02:55,760 --> 00:02:56,480 Speaker 3: your stock. 62 00:02:56,240 --> 00:02:59,880 Speaker 4: Movers, it is Senteen, the tickers C and C. It's 63 00:03:00,040 --> 00:03:02,680 Speaker 4: probably been flying under a lot of people's radar. They 64 00:03:02,680 --> 00:03:04,639 Speaker 4: probably would like to keep it that way because they're 65 00:03:04,639 --> 00:03:06,400 Speaker 4: the worst performing stock in the S and P five 66 00:03:06,440 --> 00:03:10,120 Speaker 4: hundred for the year. They fell eleven percent this week. 67 00:03:10,160 --> 00:03:12,160 Speaker 4: That follows up a thirty eight percent drop that had 68 00:03:12,160 --> 00:03:15,400 Speaker 4: already suffered earlier in the month, and that is you know, 69 00:03:15,400 --> 00:03:17,520 Speaker 4: they're not alone in kind of feeling this pain their 70 00:03:17,639 --> 00:03:20,120 Speaker 4: entire set. This is a sector wide story for them, 71 00:03:20,160 --> 00:03:24,679 Speaker 4: so Elevance Health, United Health, Malina Healthcare. They're all struggling 72 00:03:24,720 --> 00:03:27,680 Speaker 4: through higher health care costs the moment and this I 73 00:03:27,720 --> 00:03:31,200 Speaker 4: was reading the story before I came to the studio today, 74 00:03:31,240 --> 00:03:33,480 Speaker 4: and our healthcare report has been all over this story 75 00:03:33,520 --> 00:03:35,560 Speaker 4: and this stat really stood out to me. This group 76 00:03:35,560 --> 00:03:38,720 Speaker 4: before companies have shed three hundred billion dollars since mid 77 00:03:38,800 --> 00:03:43,000 Speaker 4: April in market cap, so the sector is really really struggling, 78 00:03:43,320 --> 00:03:45,400 Speaker 4: and now investors are kind of the reason for the 79 00:03:45,440 --> 00:03:47,760 Speaker 4: current cell off is just investors are starting to really 80 00:03:48,080 --> 00:03:50,440 Speaker 4: contemplate that this group might never return to the growth 81 00:03:50,520 --> 00:03:51,800 Speaker 4: levels that they've been used. 82 00:03:51,680 --> 00:03:54,560 Speaker 1: To never as sad, but Santina's a thirteen billion dollar company, 83 00:03:54,600 --> 00:03:57,000 Speaker 1: and a quick look at the terminal shows a couple 84 00:03:57,000 --> 00:03:59,440 Speaker 1: of brokers really cutting their price target from truist to 85 00:03:59,520 --> 00:04:02,280 Speaker 1: open high. So you're right, it's just not been a 86 00:04:02,320 --> 00:04:04,040 Speaker 1: good time for Centen. 87 00:04:04,600 --> 00:04:07,800 Speaker 3: And like other companies in the space, Centen does medicaid 88 00:04:07,800 --> 00:04:11,839 Speaker 3: and Medicare health plans, treatment compliance, nurse triage, and multiline 89 00:04:11,960 --> 00:04:13,640 Speaker 3: healthcare solutions provider. 90 00:04:15,640 --> 00:04:19,760 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 91 00:04:19,839 --> 00:04:22,600 Speaker 2: us throughout the day for the latest roundup of companies 92 00:04:22,640 --> 00:04:25,680 Speaker 2: making news on Wall Street and for the latest market 93 00:04:25,720 --> 00:04:30,120 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 94 00:04:30,160 --> 00:04:33,400 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 95 00:04:33,440 --> 00:04:34,919 Speaker 2: the Bloomberg Business app.