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 00:00:18,320 --> 00:00:20,400 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:20,440 --> 00:00:23,079 Speaker 1: I'm Tim Stenewek along with Carol Masser, and we're joined 6 00:00:23,079 --> 00:00:28,000 Speaker 1: by Bloomberg News cross asset reporter Dna SKOVADNITZA kind of 7 00:00:28,040 --> 00:00:30,520 Speaker 1: an interesting trade today. I stocks off their best levels 8 00:00:30,560 --> 00:00:32,920 Speaker 1: of the day, but no shortage of movers. What did 9 00:00:32,920 --> 00:00:33,240 Speaker 1: you find. 10 00:00:33,720 --> 00:00:36,840 Speaker 3: Let's start with Block It's set to join the seven 11 00:00:37,360 --> 00:00:40,120 Speaker 3: the S and P five hundred index, obviously a massive 12 00:00:40,680 --> 00:00:44,600 Speaker 3: mouse zone for digital payments and crypto mainstream finance. What 13 00:00:44,760 --> 00:00:48,960 Speaker 3: we're seeing is obviously Coinbase joined the S and P 14 00:00:49,080 --> 00:00:53,680 Speaker 3: five hundred. We have Strategy joining the NASDAC and this 15 00:00:53,840 --> 00:00:56,640 Speaker 3: has had a massive impact on those companies. So for example, 16 00:00:56,680 --> 00:00:59,920 Speaker 3: Block today search seven percent. The ticker is x y 17 00:01:00,080 --> 00:01:05,119 Speaker 3: I z uh. And when demodos companies obviously joined those benchmarks, 18 00:01:05,120 --> 00:01:08,960 Speaker 3: they open a whole world of passive investments and that's 19 00:01:09,000 --> 00:01:11,880 Speaker 3: been a big boost to the kind of crypto digital 20 00:01:11,959 --> 00:01:14,880 Speaker 3: payments industry companies that have joined so far. Because you 21 00:01:14,920 --> 00:01:16,440 Speaker 3: can imagine a lot of the money they get is 22 00:01:16,520 --> 00:01:20,319 Speaker 3: retail money, so this is slightly different potentially some more 23 00:01:20,400 --> 00:01:25,120 Speaker 3: institutional players and retail of course. So block has evolved 24 00:01:25,160 --> 00:01:28,760 Speaker 3: and it's ritually offering peer to peer transfers. Now it 25 00:01:29,040 --> 00:01:33,400 Speaker 3: has offered actually loans, consumer loans, merchant services obviously has 26 00:01:33,520 --> 00:01:36,720 Speaker 3: like a big impact in crypto. That's something they provide 27 00:01:37,400 --> 00:01:40,319 Speaker 3: in their Square terminals. It's of course a Jack Dorsey company, 28 00:01:40,360 --> 00:01:43,360 Speaker 3: so he's had a long history with bitcoin. Today we 29 00:01:43,440 --> 00:01:46,119 Speaker 3: saw two upgrades from JP Morgan and Bart, so there 30 00:01:46,240 --> 00:01:48,920 Speaker 3: is a lot of optimism based on the whole universe 31 00:01:48,960 --> 00:01:50,600 Speaker 3: of active female. You're not gonna have to buy it. 32 00:01:51,040 --> 00:01:58,760 Speaker 1: Yes, Jack Dorsey his title chairman and head block. 33 00:02:00,280 --> 00:02:02,120 Speaker 3: That head block it no heads blocked. 34 00:02:02,440 --> 00:02:05,720 Speaker 1: Yeah, this is the company formerly known as Square. 35 00:02:05,760 --> 00:02:08,079 Speaker 3: They had to take Sq but he has to block 36 00:02:08,360 --> 00:02:11,880 Speaker 3: which is which is looked at x y z because 37 00:02:11,919 --> 00:02:14,320 Speaker 3: because they're in more than Jess, it's not just Square. 38 00:02:14,480 --> 00:02:17,320 Speaker 1: Yeah, and not to be confused with alphabet, which is 39 00:02:17,480 --> 00:02:20,359 Speaker 1: like alphabet dot x y Z. Righty change their name 40 00:02:20,360 --> 00:02:23,840 Speaker 1: from Google. I'm like, come on, guys, head changes x 41 00:02:23,919 --> 00:02:28,239 Speaker 1: y Z but a ticker probably you know, they probably 42 00:02:28,320 --> 00:02:31,239 Speaker 1: have consultant and it probably cost him lots of money. 43 00:02:31,360 --> 00:02:34,959 Speaker 3: They figure out this day is just like Master's back. 44 00:02:35,480 --> 00:02:39,680 Speaker 1: You know his total compensation Jack Dorsey, Yeah, in twenty 45 00:02:39,760 --> 00:02:43,560 Speaker 1: twenty four was three dollars. Wow, same with twenty twenty three, 46 00:02:43,639 --> 00:02:45,200 Speaker 1: twenty twenty two, and then to twenty twenty one he 47 00:02:45,240 --> 00:02:46,120 Speaker 1: accepted one dollar. 48 00:02:46,400 --> 00:02:47,160 Speaker 3: He can lift it. 49 00:02:47,280 --> 00:02:47,400 Speaker 2: Now. 50 00:02:48,080 --> 00:02:51,040 Speaker 1: He has a network according to the Bloomberg Billionaires Index 51 00:02:51,120 --> 00:02:54,239 Speaker 1: of five point six billion dollars, so it does not come. 52 00:02:54,120 --> 00:02:58,000 Speaker 3: From his salary. Yes, all right, let's talk about interesting stuff. 53 00:02:58,000 --> 00:03:01,320 Speaker 3: I think it's cool. Yeah, pretty cool, deep p Domino's Pizza. 54 00:03:01,360 --> 00:03:03,440 Speaker 3: Everybody is kind of talking about this one today. Yeah, 55 00:03:03,520 --> 00:03:06,359 Speaker 3: there was so much hype going into today. It had 56 00:03:06,400 --> 00:03:08,960 Speaker 3: a big spike. It searched about four percent. It actually 57 00:03:09,040 --> 00:03:13,080 Speaker 3: closed the day one percent lower. It's interesting a higher 58 00:03:13,120 --> 00:03:16,000 Speaker 3: revenue in the second quarter. One of reason people are 59 00:03:16,520 --> 00:03:20,799 Speaker 3: not so optimistic is it missed on second quarter profit expectations. 60 00:03:21,200 --> 00:03:23,400 Speaker 3: City is also saying that some of the choppy trading 61 00:03:23,480 --> 00:03:27,760 Speaker 3: which we're seeing could be part two US comparable sales 62 00:03:28,600 --> 00:03:32,000 Speaker 3: and the company didn't boost their guiles. But that said, 63 00:03:32,360 --> 00:03:36,280 Speaker 3: people were very excited about the stuffed crust. It was 64 00:03:36,320 --> 00:03:38,720 Speaker 3: a lot of talk on the earning SCOREE. The pizza 65 00:03:38,800 --> 00:03:42,080 Speaker 3: said that the offering attracted new customers and provided a 66 00:03:42,120 --> 00:03:45,200 Speaker 3: boost to the company top line. They have they're now 67 00:03:45,280 --> 00:03:48,240 Speaker 3: working with door Dash and one more delivery platform, and 68 00:03:48,360 --> 00:03:50,680 Speaker 3: the stuffed crust is available. So it was kind of 69 00:03:50,720 --> 00:03:53,280 Speaker 3: a major part of the earning SCOREE and it was 70 00:03:53,440 --> 00:03:56,520 Speaker 3: bringing a lot of euphoria until it didn't. But still 71 00:03:56,600 --> 00:03:58,680 Speaker 3: the stock is up ten percent here, todate. 72 00:03:58,760 --> 00:04:03,920 Speaker 1: I'm just gonna throw this out there. According to Wikipedia, Yeah, yes, 73 00:04:04,480 --> 00:04:06,240 Speaker 1: pizza Hut introduced the stuff. 74 00:04:06,320 --> 00:04:09,160 Speaker 3: There was a pizza I heard that conversation. People are 75 00:04:09,200 --> 00:04:11,160 Speaker 3: debating this in the news room. Did you heard us 76 00:04:11,160 --> 00:04:11,600 Speaker 3: talking about this? 77 00:04:11,840 --> 00:04:14,400 Speaker 1: Yeah, this was nineteen ninety five. I remember the ads 78 00:04:14,400 --> 00:04:16,280 Speaker 1: when I was a kid. Yeah, and they would like 79 00:04:16,760 --> 00:04:19,240 Speaker 1: serve pizza backwards and you'd start crust first. That was 80 00:04:19,279 --> 00:04:21,160 Speaker 1: the pizza was so big when I was you know, 81 00:04:21,360 --> 00:04:22,200 Speaker 1: I'm millennial. 82 00:04:23,320 --> 00:04:25,240 Speaker 3: When I was a kid, this is always big, big 83 00:04:25,320 --> 00:04:28,560 Speaker 3: for a long time. It's a hut, I said, said pizza. Yeah, 84 00:04:28,680 --> 00:04:32,040 Speaker 3: I heard the same one. So it's just a throwback. 85 00:04:32,200 --> 00:04:35,640 Speaker 3: It's it's an old working trend that's bringing hype again. 86 00:04:35,839 --> 00:04:38,080 Speaker 3: Are you a step crust kind of person? I'm definitely 87 00:04:38,279 --> 00:04:43,320 Speaker 3: not no, no, I think exactly she should be in 88 00:04:43,360 --> 00:04:43,719 Speaker 3: the middle. 89 00:04:44,560 --> 00:04:48,160 Speaker 1: Yeah, absolutely, you Friday nights, Pizza night at Carol's house. 90 00:04:48,480 --> 00:04:52,400 Speaker 3: Exactly, all right, IVZ where do we go? Yes, in 91 00:04:52,520 --> 00:04:56,680 Speaker 3: Vesco shares her up about a little bit over one percent. 92 00:04:57,040 --> 00:04:59,960 Speaker 3: It's an interesting story. We've been following QQQ, which are 93 00:05:00,040 --> 00:05:02,640 Speaker 3: we see some one of their biggest CTFs. It's three 94 00:05:02,839 --> 00:05:05,680 Speaker 3: hundred and fifty five billion of videos. Pretty much. They 95 00:05:05,760 --> 00:05:09,560 Speaker 3: weren't making money of it, so they're converting the structure 96 00:05:09,800 --> 00:05:12,920 Speaker 3: is becoming an open end fund, and previously it was 97 00:05:13,160 --> 00:05:18,520 Speaker 3: unit investment trust, so that's unlocking a whole new source 98 00:05:18,560 --> 00:05:21,680 Speaker 3: of revenue. The company actually searched eleven percent on Friday, 99 00:05:21,720 --> 00:05:24,600 Speaker 3: a big search today and I was up more than 100 00:05:24,680 --> 00:05:27,520 Speaker 3: sixteen percent this year, which happened pretty much in the 101 00:05:27,600 --> 00:05:30,480 Speaker 3: last two days. There was a massive spike. The expense 102 00:05:30,520 --> 00:05:32,920 Speaker 3: for issue is just twenty basis points, but you can 103 00:05:32,960 --> 00:05:36,760 Speaker 3: imagine of such a massive fund. For example, t Cowan 104 00:05:37,160 --> 00:05:40,919 Speaker 3: is expecting that to unlock one hundred million of revenue 105 00:05:40,920 --> 00:05:44,120 Speaker 3: a year. They just upgraded the company to buy, so 106 00:05:44,279 --> 00:05:46,840 Speaker 3: there is a lot of optimism of something that's kind 107 00:05:46,880 --> 00:05:49,760 Speaker 3: of a very niche ETF News story. But it's really 108 00:05:49,839 --> 00:05:51,679 Speaker 3: moving the story the stock. 109 00:05:52,000 --> 00:05:53,760 Speaker 1: Yeah, last week was a huge move. 110 00:05:53,960 --> 00:05:56,240 Speaker 3: It was a big eleven percent on one day, one day. 111 00:05:56,800 --> 00:05:57,560 Speaker 3: It's incredible. 112 00:05:57,680 --> 00:05:59,920 Speaker 1: Yeah, wow, this is what I miss. 113 00:06:00,120 --> 00:06:01,599 Speaker 3: This is what you miss, This is what you miss. 114 00:06:01,680 --> 00:06:02,960 Speaker 3: Got back into any basis point. 115 00:06:03,120 --> 00:06:06,400 Speaker 1: Actually fifteen percent of fifteen oh, it ended up closing 116 00:06:06,440 --> 00:06:07,559 Speaker 1: on Friday, fifteen percent. 117 00:06:08,120 --> 00:06:09,080 Speaker 3: Double games. 118 00:06:11,040 --> 00:06:15,080 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 119 00:06:15,240 --> 00:06:17,960 Speaker 2: us throughout the day for the latest roundup of companies 120 00:06:18,040 --> 00:06:21,039 Speaker 2: making news on Wall Street and for the latest market 121 00:06:21,120 --> 00:06:25,479 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 122 00:06:25,520 --> 00:06:28,760 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 123 00:06:28,839 --> 00:06:30,280 Speaker 2: the Bloomberg Business app.