Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: This is the closing bell on the stock. Movers report
Speaker 2: the company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenoveeck Romaine Bostik, and Katie Greyfell.
Speaker 3: Today should be a day where the decliners go first.
Speaker 3: But I'm a gentleman, Carol Masser will.
Speaker 4: Have I'm the optimist. I'm just going to go for it.
Speaker 1: Let's hear about it. What is this like ten can soup?
Speaker 4: Exactly?
Speaker 5: It is really funny to go for the gainers and
Speaker 5: what gain Although everybody knows to potle Mexican girl, look
Speaker 5: not a bad trade. It was up as much as
Speaker 5: seven percent of the tie today, finishing at the gain
Speaker 5: of more than four percent. JP Morgan upgrading to overweight
Speaker 5: from neutral, siting a rare valuation opportunity for the stock.
Speaker 4: The analyst John.
Speaker 5: Ivanco saying that the stock's multiple now has fully rerated
Speaker 5: to reflect a more moderate, yet still well above average
Speaker 5: growth profile. Price target set to thirty five dollars a share,
Speaker 5: employing a twenty four percent increase from the Thursday close.
Speaker 5: You can see the stock closing just below thirty dollars
Speaker 5: a share. All right, let's get to the number one.
Speaker 5: Let me just double check. Yep, it's the number one
Speaker 5: gainer in the S and P five hundred Cooper companies. Yeah,
Speaker 5: we don't talk about this one a lot, right, not
Speaker 5: top of the S and P after the contact lens maker.
Speaker 4: It's also medical device maker.
Speaker 5: Posted second quarter sales and adjusted profit that top estimates.
Speaker 5: Company also gave updates about its ongoing strategic review that
Speaker 5: analyst found encouraging. It's about a thirteen billion dollar market
Speaker 5: cap company. If you're not familiar, it is still down
Speaker 5: about eighteen percent year to date.
Speaker 4: But yeah, do you have something you want to add, Well,
Speaker 4: we're familiar with it. Yeah.
Speaker 1: Oh that's your leader. Okay, that's your leader in the
Speaker 1: SP five you're encouraged by.
Speaker 4: And I think it's kind of no. No, I think
Speaker 4: it's fascinating.
Speaker 5: If you go to the Nasdaq, Gainers, Manda Leese, Coca
Speaker 5: Cola Enterprise like these are not high tech companies. Like
Speaker 5: I thought it was kind of interesting.
Speaker 1: Sp fed X Freight, It's Clorox, can be Kimberly Clark.
Speaker 1: So we see where investors' minds are at. Yeah, they
Speaker 1: did not go to cash, but they're going into something
Speaker 1: more defensive sectors, right.
Speaker 5: Which is telling, right, they're willing to look at some
Speaker 5: other different names and like you said, not putting cash
Speaker 5: under their mattresses.
Speaker 4: Hey for something different, something small, Miles. Well, so I
Speaker 4: was just at a family wedding. They're like, what's what
Speaker 4: The dude always gives you a hard time. I'm like,
Speaker 4: you know, they said, Tim, did you think that?
Speaker 3: Tim?
Speaker 2: No?
Speaker 5: No, no, And I'm just like truly a teddy bear.
Speaker 4: You know, when you get you scratch below the surface.
Speaker 3: Here's just something It's hard to get there though.
Speaker 5: Actually you need kind of a pick to kind of
Speaker 5: get into it. But hey, well we'll move on a
Speaker 5: small cap company because remain I know you love them.
Speaker 5: It's a nine hundred and seven million dollar market cap
Speaker 5: company Merlin ticker.
Speaker 4: I know I had to dig mr Ln.
Speaker 5: It's a software company involved in the aerospace and defense
Speaker 5: tech areas, rallying big time today as we bring it
Speaker 5: up almost twenty percent here afternounces a successful completion of
Speaker 5: the critical design review for its C one thirty J
Speaker 5: autonomy program with the.
Speaker 4: US Special Operation Command.
Speaker 5: I thought that was interesting in terms of what's happening
Speaker 5: with defense in particular, Stop's still down by eighteen percent
Speaker 5: with about five percent of the float is short.
Speaker 4: Take it away the klimber man.
Speaker 3: All right, well, not everything is lower today, but some
Speaker 3: prominent names lower. Let's go to the socks down more
Speaker 3: than two ten point two percent today, We'll go ahead
Speaker 3: and round that up to ten point three worst day
Speaker 3: going back to March of twenty twenty during the COVID scare.
Speaker 3: Every name in the socks is lower.
Speaker 4: Today.
Speaker 3: You've got Marvel down more than sixteen percent, Micron down
Speaker 3: more than thirteen percent, Amd down more than ten percent,
Speaker 3: Intel down eleven point three percent, Broadcomm down eight percent,
Speaker 3: in Vidia down six point two Qualcomm down eleven percent.
Speaker 3: The list goes on. I could give you twenty five
Speaker 3: more names that are lower in the socks today. Tech
Speaker 3: stocks broadly lower following that latest job support added a
Speaker 3: speculation the fed's next interistry move will be a high.
Speaker 3: Let's change years, though, and talk a little bit about retail.
Speaker 3: Earlier in the session, one of the worst performers going
Speaker 3: into today would have been Lululemon. Not the worst performer,
Speaker 3: but it was down throughout the day. Today closed at
Speaker 3: eight point six percent lower. This lowest levels in more
Speaker 3: than eight years. After the company cut its annual forecast
Speaker 3: due to deteriorating performance in North America. The company now
Speaker 3: sees revenue in the range of eleven to eleven point
Speaker 3: one to five billion dollars for the fiscal year, down
Speaker 3: below the average Jannalist estimates compiled by Bloomberg. The company
Speaker 3: says it's been contending with increased competition, poor product launches,
Speaker 3: and negative commentary in the media and social media, which
Speaker 3: has led to lower store traffic and lower sales. And finally,
Speaker 3: I can't believe we haven't talked about bitcoin yet. It
Speaker 3: fell below sixty thousand dollars for the first time going
Speaker 3: back to October twenty twenty four. This is the I
Speaker 3: Shares Bitcoin Trust ETF otherwise known as IBIT, down more
Speaker 3: than five point two percent. This leg lower fueled by
Speaker 3: a combination of investors pulling money from bitcoin tied ets
Speaker 3: such as this, renewed geopolitical tensions, growing concern about the
Speaker 3: durability of one of the market's most important sources of demand.
Speaker 3: I think big questions about what happens with all these
Speaker 3: retail investors who may have been putting money into cryptocurrency
Speaker 3: when we have some big AI companies that are going public.
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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