1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,919 Speaker 1: I'm Carol Master along with Tim Steneveek. Let's get to 5 00:00:19,000 --> 00:00:21,400 Speaker 1: some stocks on the move on this Monday. I'm going 6 00:00:21,480 --> 00:00:25,360 Speaker 1: to kick it off. I've been watching Seagate Technology and 7 00:00:25,440 --> 00:00:29,800 Speaker 1: Western Digital today. They were definitely outperformers, top in the 8 00:00:29,840 --> 00:00:33,240 Speaker 1: major equity averages, meaning the SMP and the NASDAQ one hundred. 9 00:00:33,720 --> 00:00:36,680 Speaker 1: Morgan Stanley raising its price target on Seagate It's a 10 00:00:36,680 --> 00:00:40,040 Speaker 1: computer hardware and storage company to five hundred eighty two 11 00:00:40,080 --> 00:00:43,800 Speaker 1: dollars a share from four to sixty eight. Ticker, of course, 12 00:00:43,880 --> 00:00:46,960 Speaker 1: is st X, and the stock finished up about five 13 00:00:47,000 --> 00:00:51,600 Speaker 1: point six percent today's session. Morgan Stanley also named Sagate 14 00:00:51,640 --> 00:00:56,080 Speaker 1: it's top pick, seeing long term tailwinds related to AI. 15 00:00:57,280 --> 00:01:00,400 Speaker 1: The analyst at Morgan saying investors continue to underpreciate the 16 00:01:00,400 --> 00:01:04,880 Speaker 1: fundamental strength that this environment environment will translate into four. 17 00:01:04,959 --> 00:01:09,759 Speaker 1: Seagate and Western Digital overweight ratings on both, adding aggressively 18 00:01:09,800 --> 00:01:13,000 Speaker 1: to them in periods of market related volatility. Morgan Stanley 19 00:01:13,000 --> 00:01:15,720 Speaker 1: also lifted its price target on Western Digital to three 20 00:01:15,760 --> 00:01:18,840 Speaker 1: eighty a share from three to sixty nine. Western Digital 21 00:01:18,880 --> 00:01:21,640 Speaker 1: ticker is WDC, and that's stock finished up more than 22 00:01:21,680 --> 00:01:25,640 Speaker 1: three percent in today's session. Another one I want to 23 00:01:25,680 --> 00:01:28,679 Speaker 1: mention it was another call from Wall Street, and that 24 00:01:28,840 --> 00:01:31,840 Speaker 1: is app love It and ticker is app stock, up 25 00:01:31,920 --> 00:01:36,080 Speaker 1: six point eight percent in today's session. Wells Fargo raise 26 00:01:36,120 --> 00:01:38,280 Speaker 1: the firm's price target on app love And to five 27 00:01:38,319 --> 00:01:40,480 Speaker 1: hundred and sixty dollars a share from five hundred and 28 00:01:40,560 --> 00:01:44,319 Speaker 1: forty three. Stock closed just under four hundred and thirteen 29 00:01:44,360 --> 00:01:46,360 Speaker 1: dollars a share. Some a lot to move to the 30 00:01:46,440 --> 00:01:50,360 Speaker 1: upside if it hits that target. Wells Fargo keeping an 31 00:01:50,360 --> 00:01:54,160 Speaker 1: overweight rating on app Lovin and says checks are improving 32 00:01:54,240 --> 00:01:58,240 Speaker 1: and buyside sentiment is negative. So liking that one again. 33 00:01:58,320 --> 00:02:01,080 Speaker 1: App love And up six point eight percent today's session. 34 00:02:01,200 --> 00:02:03,720 Speaker 3: Okay, let's go to some decliners and then we'll get 35 00:02:03,720 --> 00:02:05,480 Speaker 3: to a gainer at the end. I want to start 36 00:02:05,480 --> 00:02:07,639 Speaker 3: with shares of Tesla, which actually closed at their lowest 37 00:02:07,720 --> 00:02:12,600 Speaker 3: going back to September of last year. Ryan Brickman over 38 00:02:12,600 --> 00:02:14,440 Speaker 3: at JP Morgan, he's an analyst there. He said that 39 00:02:14,480 --> 00:02:17,440 Speaker 3: Tesla investors should proceed with caution because the company's in 40 00:02:17,520 --> 00:02:20,160 Speaker 3: danger of weaker performance. He came out and cut his 41 00:02:20,200 --> 00:02:23,760 Speaker 3: earnings estimates for the company after force quarter delivery numbers disappointing. 42 00:02:23,800 --> 00:02:27,679 Speaker 3: To recall that was last week. He says, we continue 43 00:02:27,680 --> 00:02:31,160 Speaker 3: to see large sixty percent downside to our one hundred 44 00:02:31,160 --> 00:02:34,000 Speaker 3: and forty five dollars December twenty twenty six price target. 45 00:02:34,600 --> 00:02:38,160 Speaker 3: He advises investors approach Tesla shares with a high degree 46 00:02:38,280 --> 00:02:42,960 Speaker 3: of caution. Tesla shares falling on the day today again 47 00:02:43,000 --> 00:02:45,679 Speaker 3: closing up their lowest going back to what did I 48 00:02:45,720 --> 00:02:48,160 Speaker 3: say September Carol of last year, Yeah, September eight much 49 00:02:48,240 --> 00:02:51,000 Speaker 3: They down last year September tenth this year down twenty 50 00:02:51,040 --> 00:02:54,360 Speaker 3: two percent. Finished the day down by more than two percent. 51 00:02:54,760 --> 00:02:57,680 Speaker 3: All right, so Tesla one of the decliners. Another one, 52 00:02:57,720 --> 00:03:00,400 Speaker 3: and this is a really interesting story. This is about Vesco. 53 00:03:00,760 --> 00:03:05,240 Speaker 3: They're the ones behind the QQQ ticker super popular, super popular, 54 00:03:05,240 --> 00:03:08,640 Speaker 3: and that's the concern with Blackrock potentially getting in on this. 55 00:03:08,760 --> 00:03:11,400 Speaker 3: The company setting its sites on tracking the Nasdaq one 56 00:03:11,480 --> 00:03:14,480 Speaker 3: hundred the I shares NASDAQ one hundred ETF it would 57 00:03:14,480 --> 00:03:19,800 Speaker 3: trade under the ticker IQQQ. So ivz Us is Invesco's 58 00:03:19,880 --> 00:03:23,480 Speaker 3: ticker shares an Investco today fell by more than five percent. 59 00:03:24,120 --> 00:03:27,000 Speaker 3: If this launches, IQQ would become one of just a 60 00:03:27,000 --> 00:03:29,520 Speaker 3: handful of US listed ETFs to solely track the Nasdaq 61 00:03:29,560 --> 00:03:32,239 Speaker 3: one hundred and the first one to not be managed 62 00:03:32,600 --> 00:03:37,320 Speaker 3: by Investco. So if there's more competition for this ETF 63 00:03:37,800 --> 00:03:41,160 Speaker 3: or something that tracks the Nasdaq one hundred, then Invesco 64 00:03:41,360 --> 00:03:42,839 Speaker 3: could be put in a position where it could lose 65 00:03:42,880 --> 00:03:45,200 Speaker 3: some share. And that's why Investco shares fell by more 66 00:03:45,240 --> 00:03:45,840 Speaker 3: than five percent. 67 00:03:45,840 --> 00:03:48,480 Speaker 1: Of that makes complete sense, right because they've really owned it. 68 00:03:48,840 --> 00:03:50,520 Speaker 1: If you will, Hey, we want to go back to 69 00:03:50,600 --> 00:03:53,520 Speaker 1: two other gainers in today's session. This was something that 70 00:03:53,560 --> 00:03:56,200 Speaker 1: you caught your attention, and we're talking about Robin Hood 71 00:03:57,320 --> 00:04:00,400 Speaker 1: and Bank of New York Mellon Robinhood ticker is of 72 00:04:00,440 --> 00:04:03,960 Speaker 1: course hood Hood that was up about one point three 73 00:04:04,040 --> 00:04:06,240 Speaker 1: percent in today's session. And then Bank of New York 74 00:04:06,360 --> 00:04:09,920 Speaker 1: Mellon ticker is b k TIM that was up one 75 00:04:09,920 --> 00:04:10,800 Speaker 1: and a quarter percent. 76 00:04:11,000 --> 00:04:13,240 Speaker 3: Yeah, these are two companies that WI help manage the 77 00:04:13,280 --> 00:04:15,680 Speaker 3: Trump accounts created for children as part of the One 78 00:04:15,800 --> 00:04:18,200 Speaker 3: Big Beautiful Bill Act last year. So here's how it's 79 00:04:18,200 --> 00:04:20,719 Speaker 3: going to work. B NI will manage the initial accounts 80 00:04:20,720 --> 00:04:22,800 Speaker 3: it to help develop an app for the program, and 81 00:04:22,960 --> 00:04:26,760 Speaker 3: Robinhood will serve as the brokerage and initial trustee this 82 00:04:26,839 --> 00:04:29,680 Speaker 3: according to the US Treasury Department, The accounts will be 83 00:04:29,680 --> 00:04:33,440 Speaker 3: available for contributions starting on DA DA DA, the fourth 84 00:04:33,440 --> 00:04:35,960 Speaker 3: of July. Dun. 85 00:04:36,160 --> 00:04:38,160 Speaker 1: Yeah, we're going to be nation's gonna two hundred and 86 00:04:38,200 --> 00:04:38,839 Speaker 1: fifty years old. 87 00:04:39,040 --> 00:04:39,520 Speaker 3: I've heard that. 88 00:04:39,800 --> 00:04:42,160 Speaker 1: Yeah, so kind of nice right to title into that. 89 00:04:42,360 --> 00:04:44,760 Speaker 1: Government plans to what automatically seed an account with one 90 00:04:44,760 --> 00:04:48,440 Speaker 1: thousand dollars for each child born from January first, twenty 91 00:04:48,480 --> 00:04:50,679 Speaker 1: twenty five, through the end of twenty twenty. 92 00:04:50,880 --> 00:04:52,279 Speaker 3: Very kid, my kids. 93 00:04:52,680 --> 00:04:56,480 Speaker 1: I've heard people come up and be like, so we 94 00:04:56,600 --> 00:04:59,640 Speaker 1: know they only doing this for a few years, or 95 00:04:59,680 --> 00:05:01,080 Speaker 1: is it for every kid now born? 96 00:05:01,160 --> 00:05:03,880 Speaker 3: I think it's it's now one thousand dollars for child 97 00:05:03,920 --> 00:05:06,320 Speaker 3: born between January first, twenty twenty five through the. 98 00:05:06,320 --> 00:05:08,480 Speaker 1: End of twenty ye if you're bored, so maybe they have. 99 00:05:08,400 --> 00:05:10,800 Speaker 3: To renew it or you know, to take an Act 100 00:05:10,839 --> 00:05:12,000 Speaker 3: of Congress to do it. 101 00:05:12,120 --> 00:05:13,920 Speaker 1: Estimates that the accounts could reach as much as two 102 00:05:13,960 --> 00:05:15,880 Speaker 1: hundred and seventy one thousand by the time the child 103 00:05:15,960 --> 00:05:19,360 Speaker 1: is eighteen. If five thousand dollars per year is contributed 104 00:05:19,560 --> 00:05:20,080 Speaker 1: as risk. 105 00:05:20,800 --> 00:05:22,919 Speaker 3: Past performance is no guarantee it's. 106 00:05:22,800 --> 00:05:25,720 Speaker 1: Right, And at this point there's so much coming at us. 107 00:05:25,720 --> 00:05:28,080 Speaker 1: Who knows, who knows, just throwing that out there, how 108 00:05:28,120 --> 00:05:28,880 Speaker 1: this all will end. 109 00:05:30,640 --> 00:05:34,680 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 110 00:05:34,760 --> 00:05:37,320 Speaker 2: us throughout the day for the latest roundup of companies 111 00:05:37,400 --> 00:05:40,480 Speaker 2: making news on Wall Street and for the latest market 112 00:05:40,520 --> 00:05:45,000 Speaker 2: moving headlines. 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