WEBVTT - Closing Bell: Coinbase Rallies, Ross Stores Climbs, Apple Slips

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>This is the closing bell on the stock mover's report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greifel.

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<v Speaker 3>All right, guys, let's go to some of the individual gainers,

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<v Speaker 3>if I may. We talked about crypto getting a bounce

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<v Speaker 3>back here in today's session. A couple of names benefiting

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<v Speaker 3>as a result. Coinbase actually your number two gainer in

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<v Speaker 3>the S and P five hundred, Nawstak one hundred, up

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<v Speaker 3>about fifteen percent here, so you saw gains.

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<v Speaker 4>This had to do with President Trump.

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<v Speaker 3>There were some reports from Politico that the President met

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<v Speaker 3>privately yesterday with Coinbase CEO Brian Armstrong, setting two people

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<v Speaker 3>with knowledge meeting coming ahead of a post that we

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<v Speaker 3>got from the President late yesterday pushing for passage of

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<v Speaker 3>that market structure bill when it comes when we were

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<v Speaker 3>talking about crypto market unclear what was discussed at the meeting,

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<v Speaker 3>but we also had the President Trump posting about the

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<v Speaker 3>powerful crypto agenda, and he talked he kind of criticized

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<v Speaker 3>banks about undermining and jeopardizing that powerful crypto agenda, and

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<v Speaker 3>he went on and on on social But nonetheless, you

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<v Speaker 3>did have many names in the crypto area. Coinbase app

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<v Speaker 3>fourteen percent, you had a strategy up about ten percent,

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<v Speaker 3>and you had Circle Remain up about five and a

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<v Speaker 3>half percent.

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<v Speaker 4>I know we have somewhere.

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<v Speaker 1>I'm just going to interrupt here. Software company Octa. This

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<v Speaker 1>is mostly about identification management software. The shares oscillating between

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<v Speaker 1>gains and losses. The company for the most recent quarter

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<v Speaker 1>did a post adjusted EPs of about ninety cents a share.

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<v Speaker 1>That's about five cents more than what the street was

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<v Speaker 1>looking for. Revenue jumped by about twelve percent to seven

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<v Speaker 1>hundred and sixty one million. That's also a beat The

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<v Speaker 1>street was looking on average for roughly about seven hundred

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<v Speaker 1>and fifty Here's your guidance for the full year twenty

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<v Speaker 1>twenty seven. The fiscal twenty twenty seven revenue in a

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<v Speaker 1>range of three point one seven to three point one nine.

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<v Speaker 1>The low end of that range is the average of

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<v Speaker 1>streets stuments. EPs adjusted three seventy three dollars and seventy

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<v Speaker 1>four cents to three eighty two is the guidance they're giving.

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<v Speaker 1>The street on average was looking for three point six six.

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<v Speaker 3>All right, cool, we'll continue to watch that one in

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<v Speaker 3>the aftermarket right now, down almost about two and a

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<v Speaker 3>half percent octa, So we'll keep an eye on that

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<v Speaker 3>one for you. Back to I ment to the crypto

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<v Speaker 3>space that was certainly gaining in today's session. Maderna number

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<v Speaker 3>one gainer in the S and P five hundred, a

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<v Speaker 3>gain of about sixteen percent.

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<v Speaker 5>Here.

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<v Speaker 4>This is after the company agreed to pay.

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<v Speaker 3>Genovent it's a subsidiary of Royvent Sciences and Arbitus nine

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<v Speaker 3>hundred and fifty million dollars basically to settle litigation related

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<v Speaker 3>to the delivery technology behind its COVID shop that at

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<v Speaker 3>issue essentially claims that Maderna had infringed on patents owned

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<v Speaker 3>by these two companies, and so nonetheless, basically bottom line,

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<v Speaker 3>the settlement really getting rid of a major financial litigation

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<v Speaker 3>risk for Maderna.

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<v Speaker 4>So we did see investors moving back into that one.

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<v Speaker 6>The stock.

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<v Speaker 3>I don't know if you guys noticed we talked about

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<v Speaker 3>this earlier with the Avalon pernel. It's up a about

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<v Speaker 3>one hundred percent year to date, still nineteen percent of

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<v Speaker 3>the float short, but it's definitely had.

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<v Speaker 4>Quite a bounce back. Still way off from its post

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<v Speaker 4>COVID levels.

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<v Speaker 3>And then I just want to mention Ross Stores this

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<v Speaker 3>one too, rallying about eight percent in today's session. This

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<v Speaker 3>after the company off price apparel and home accessories retailer

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<v Speaker 3>reported comp sales growth for the fourth quart of nine percent,

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<v Speaker 3>so that easily beat the consensus growth estimate of just

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<v Speaker 3>under five percent. So we did see some upbeat Telsey

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<v Speaker 3>Analystina Telsey upgrading the stock to outperform from market perform

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<v Speaker 3>and raise the price target to two forty from two

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<v Speaker 3>to twenty stack closing it to thirteen and change in

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<v Speaker 3>the Wednesday trade.

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<v Speaker 5>Tim All right, let's go to some of the decliners

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<v Speaker 5>on the day today. I want to start with the

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<v Speaker 5>Mosaic Company, down two point nine percent. This was a

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<v Speaker 5>late mover after we learned the Justice Department's investigating several

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<v Speaker 5>leading producers of commercial fertilizers, Mosaic among them, for possible

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<v Speaker 5>civil and criminal antitrust violations. The brobe examining companies pricing

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<v Speaker 5>practices and the mistigations in the early stages, and being

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<v Speaker 5>run out of the doj ANTI Trust Division's Chicago office.

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<v Speaker 5>Mosaic down by two point nine percent. Brown Foreman among

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<v Speaker 5>the worst performers in the S and P five hundred

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<v Speaker 5>day on a percentage basis, down close to seven percent.

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<v Speaker 5>You know what they make Romain, Yes, I do.

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<v Speaker 1>I'm a fine customer of.

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<v Speaker 5>Theirs, the Hera Dura Tequila or the Jack Daniels.

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<v Speaker 1>I don't know what that first one you said there,

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<v Speaker 1>I love you accent.

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<v Speaker 2>Good job.

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<v Speaker 6>Okay.

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<v Speaker 5>The company actually reported quarterly results. That's their past estimates.

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<v Speaker 5>The problem, though, was the executives who flagged stubborn weakness

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<v Speaker 5>in the US spirits market. The company's conference call CEO

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<v Speaker 5>said that while performance has improved in the US quote,

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<v Speaker 5>it's still not great. I do not want to declare

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<v Speaker 5>that it's bottomed out, but over the last couple of months,

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<v Speaker 5>the numbers have improved. This is according to Laws and Whiting,

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<v Speaker 5>the company's CEO. Okay, do you have time for a

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<v Speaker 5>couple more guys?

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<v Speaker 6>Don't Eagle?

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<v Speaker 2>Really?

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<v Speaker 1>All right?

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<v Speaker 5>Go ahead, breaking, go ahead with the break.

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<v Speaker 6>When it comes to the earnings front, fourth quarter net

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<v Speaker 6>revenue actually beating estimates. When it comes to American Eagle,

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<v Speaker 6>that's number coming in for net revenue at one point

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<v Speaker 6>sixty seven billion dollars for the fourth quarter. The estimate

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<v Speaker 6>had been for one point seven four billion dollars, so

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<v Speaker 6>a slight beat there. Meanwhile, you take a look at

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<v Speaker 6>some of the expectations. They see first quarter operating income

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<v Speaker 6>between twenty million dollars to twenty five million dollars. The

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<v Speaker 6>estimate had been for fifteen million dollars. Here, looking for

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<v Speaker 6>some more numbers, but twenty twenty seven, twenty twenty seven

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<v Speaker 6>capex seen between two hundred and fifty million to two

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<v Speaker 6>hundred and sixty million dollars. The estimate had been actually

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<v Speaker 6>for more than four hundred million dollars, so below expectations.

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<v Speaker 3>There.

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<v Speaker 6>You can see the stock higher by about seven points

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<v Speaker 6>six percent, so clearly traders cheering this in the after hours,

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<v Speaker 6>though this stock down more than fifteen percent year today

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<v Speaker 6>through today's close.

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<v Speaker 3>All right, what really goes well with that tequila that

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<v Speaker 3>Tim pronounced so eloquently. It's some cracker barrel, and that

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<v Speaker 3>stock is definitely right in the aftermarket, up about five

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<v Speaker 3>point two percent.

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<v Speaker 4>It's been on a tear. It's up about twenty percent

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<v Speaker 4>so far in twenty twenty six.

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<v Speaker 3>Let's go to it. Second quarter just at EPs twenty

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<v Speaker 3>five cents a year. That compares with an expected and

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<v Speaker 3>estimated loss of twenty seven cents a year, so we'll

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<v Speaker 3>make sure that that number is on the That seems

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<v Speaker 3>like quite a turnaround company. Also talking about the fiscal year,

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<v Speaker 3>justed even a eighty five million to one hundred million.

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<v Speaker 3>It had seen seventy two one hundred and ten million,

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<v Speaker 3>So bringing that one in a little bit. Second quarter

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<v Speaker 3>revenue eight hundred and seventy four point eight million, folks,

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<v Speaker 3>that is a beat eight hundred and sixty eight point

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<v Speaker 3>nine billion, And again an outlook for revenue for fiscal year.

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<v Speaker 4>For the fiscal year.

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<v Speaker 3>Three point twenty four billion to three point twenty seven billion,

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<v Speaker 3>had seen three point two to three point three So nonetheless,

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<v Speaker 3>investors like it. It's up about six percent. So again, maybe

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<v Speaker 3>with that tequila it might go.

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<v Speaker 6>Bow all right, cracker barrel margarita. I could get behind that.

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<v Speaker 6>Really yeah, why not?

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<v Speaker 4>I guess so margarita is a margarita. Yes, now a tequila.

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<v Speaker 2>Aren't you a snob? Wait?

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<v Speaker 4>Come on, you know you know it's true.

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