1 00:00:02,520 --> 00:00:07,360 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 00:00:16,320 --> 00:00:17,440 Speaker 2: What we want to do now is take a look 5 00:00:17,440 --> 00:00:19,200 Speaker 2: at some of the stocks on the move. 6 00:00:19,640 --> 00:00:22,439 Speaker 1: Lisa Mittay alongside Isabelle Lee, and we are joined by 7 00:00:22,480 --> 00:00:25,239 Speaker 1: Bloomberg's Bally Lipschultz. All right, Bailey, want to start with 8 00:00:25,400 --> 00:00:28,200 Speaker 1: Jack Dorsey's digital payment company Block. How are they doing? 9 00:00:28,440 --> 00:00:30,120 Speaker 1: They were up a lot, Lisa, They were up more 10 00:00:30,160 --> 00:00:32,360 Speaker 1: than seven percent, now down one and a half percent. 11 00:00:32,400 --> 00:00:36,920 Speaker 1: That trades under the ticker XYZ. Very futuristic thinking, beating 12 00:00:36,960 --> 00:00:40,960 Speaker 1: expectations broadly speaking. Really saw a lot of strength from 13 00:00:41,280 --> 00:00:44,640 Speaker 1: cash Appen a number of their other kind of offerings. 14 00:00:44,760 --> 00:00:46,680 Speaker 1: The big thing though, when you look at the analyst reaction, 15 00:00:46,920 --> 00:00:49,200 Speaker 1: the stock still is up more than sixty percent from 16 00:00:49,200 --> 00:00:51,640 Speaker 1: a May second low, So this is a stock that 17 00:00:51,720 --> 00:00:54,680 Speaker 1: rallied into results. We saw a couple banks downgrade shares 18 00:00:54,720 --> 00:00:57,200 Speaker 1: going into the print, so even if you beat expectations, 19 00:00:57,320 --> 00:00:59,160 Speaker 1: maybe you aren't seeing that follow through. Again, we saw 20 00:00:59,160 --> 00:01:01,600 Speaker 1: a strong pop at the open, but that has turned 21 00:01:01,600 --> 00:01:03,360 Speaker 1: to a fade. The one thing that we call that 22 00:01:03,440 --> 00:01:05,720 Speaker 1: on the desk is P to P meaning price to perfection. 23 00:01:06,080 --> 00:01:07,880 Speaker 1: So you do see some of these stocks even if 24 00:01:07,920 --> 00:01:11,039 Speaker 1: you beat expectations, maybe there's not much follow through in 25 00:01:11,080 --> 00:01:13,560 Speaker 1: the aftermarket. And again we are having kind of those 26 00:01:13,560 --> 00:01:16,720 Speaker 1: summer Friday vibes, so maybe people closing out some positions 27 00:01:16,720 --> 00:01:20,040 Speaker 1: now that this catalyst is in the rearview mirror. What's 28 00:01:20,040 --> 00:01:22,360 Speaker 1: going on with pinderis I remember this from my high 29 00:01:22,360 --> 00:01:25,200 Speaker 1: school date. High school date, Well, how long was that 30 00:01:25,240 --> 00:01:26,280 Speaker 1: like six years ago? 31 00:01:26,560 --> 00:01:27,280 Speaker 2: Just five days ago? 32 00:01:27,360 --> 00:01:30,280 Speaker 1: Okay, I was going to say. Stock trades under the 33 00:01:30,319 --> 00:01:33,319 Speaker 1: ticker pis right now down eight percent, did fall as 34 00:01:33,400 --> 00:01:36,000 Speaker 1: much as fifteen and a half percent, so pairing some 35 00:01:36,040 --> 00:01:40,039 Speaker 1: of those losses. This comes after quarterly results in some 36 00:01:40,200 --> 00:01:44,440 Speaker 1: metrics beat expectations, but broadly speaking, ad pricing fell below 37 00:01:44,480 --> 00:01:46,720 Speaker 1: what Wall Street was looking for us off few analysts 38 00:01:46,800 --> 00:01:49,280 Speaker 1: kind of calling out that maybe the company isn't benefiting 39 00:01:49,280 --> 00:01:51,960 Speaker 1: to the degree of a Google or a Reddit really 40 00:01:51,960 --> 00:01:54,440 Speaker 1: being able to capture some of that AI spending and 41 00:01:54,520 --> 00:01:57,560 Speaker 1: kind of pushing some of that advertising dollars to work. 42 00:01:57,680 --> 00:02:00,800 Speaker 1: One thing again, another company up almost fifty percent even 43 00:02:00,840 --> 00:02:04,000 Speaker 1: after this pullback from their April twenty first low. So 44 00:02:04,040 --> 00:02:06,680 Speaker 1: we are seeing some companies that did really run into 45 00:02:06,760 --> 00:02:10,120 Speaker 1: results dialing back some of those games. But again Bloomberg 46 00:02:10,120 --> 00:02:13,120 Speaker 1: Intelligence kind of calling out that ad weakness dragging on 47 00:02:13,160 --> 00:02:15,240 Speaker 1: revenue growth. That's something that we had been seeing and 48 00:02:15,240 --> 00:02:17,840 Speaker 1: have been tracking from some of these companies that do 49 00:02:18,000 --> 00:02:21,000 Speaker 1: cater to that ad pricing social media kind of world. Now, 50 00:02:21,040 --> 00:02:24,000 Speaker 1: what about trade does explain to me first what they do? 51 00:02:24,440 --> 00:02:27,639 Speaker 1: Who is trade Dusk? How are they doing? Advertising technology companies? 52 00:02:27,680 --> 00:02:30,320 Speaker 1: So think kind of like within technology, within your TV 53 00:02:30,360 --> 00:02:32,239 Speaker 1: one of their bigger comps, or I guess one of 54 00:02:32,240 --> 00:02:35,400 Speaker 1: the comps companies that went public recently is Mountain Trades 55 00:02:35,480 --> 00:02:39,200 Speaker 1: under the ticker MNTN Advertising TV. They used Trade Desk 56 00:02:39,280 --> 00:02:41,200 Speaker 1: is kind of their main comp. But Trade Desk tick 57 00:02:41,320 --> 00:02:46,200 Speaker 1: or TTD right now down thirty nine percent, worst drop 58 00:02:46,240 --> 00:02:49,120 Speaker 1: since it went public in twenty sixteen. When you dial back, though, 59 00:02:49,160 --> 00:02:50,800 Speaker 1: I was looking kind of saying, way, I remember this 60 00:02:50,800 --> 00:02:54,320 Speaker 1: company under pressure earlier this year, back after reporting results 61 00:02:54,360 --> 00:02:57,080 Speaker 1: in February, fell thirty three percent. So this is a 62 00:02:57,080 --> 00:03:00,560 Speaker 1: company that is dealing with the Amazon boogeyman. What does 63 00:03:00,600 --> 00:03:02,440 Speaker 1: that mean for the company going forward? How do you 64 00:03:02,520 --> 00:03:04,960 Speaker 1: kind of pencil in expectations in twenty five and twenty 65 00:03:05,000 --> 00:03:07,640 Speaker 1: six when you are dealing with the risk, the persistent 66 00:03:07,800 --> 00:03:10,640 Speaker 1: risk that Amazon and other peers could be eating your 67 00:03:10,680 --> 00:03:12,960 Speaker 1: AD dollars. So that's been kind of the big sticking 68 00:03:13,000 --> 00:03:15,079 Speaker 1: point when we look through some of the analyst reactions 69 00:03:15,160 --> 00:03:17,480 Speaker 1: b of a downgrading shares, just a lot of uncertainty 70 00:03:17,480 --> 00:03:19,480 Speaker 1: about the path forward. And if you're a company, you 71 00:03:19,480 --> 00:03:22,080 Speaker 1: know again that on the last twelve months is down 72 00:03:22,440 --> 00:03:25,480 Speaker 1: thirty nine percent, so you're basically wore a flat into 73 00:03:25,480 --> 00:03:27,760 Speaker 1: the print. Not a lot of reasons to step in 74 00:03:27,800 --> 00:03:29,520 Speaker 1: and want to buy and mountain that pier right now 75 00:03:29,560 --> 00:03:31,240 Speaker 1: down more than seven and a half percent, So the 76 00:03:31,360 --> 00:03:32,919 Speaker 1: entire area under a bit of pressure. 77 00:03:32,960 --> 00:03:38,040 Speaker 2: Design the Stock Movers Report from Bloomberg Radio. Check back 78 00:03:38,080 --> 00:03:40,320 Speaker 2: with us throughout the day for the latest roundup of 79 00:03:40,360 --> 00:03:43,640 Speaker 2: companies making news on Wall Street and for the latest 80 00:03:43,680 --> 00:03:47,880 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 81 00:03:47,920 --> 00:03:51,640 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 82 00:03:51,680 --> 00:03:53,680 Speaker 2: Auto with the Bloomberg Business app.