1 00:00:02,560 --> 00:00:07,480 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,600 --> 00:00:12,520 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,520 --> 00:00:15,920 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,880 --> 00:00:18,720 Speaker 3: Let's take a look at some stocks on the move 5 00:00:18,760 --> 00:00:22,160 Speaker 3: today with us is Danitza's Sokova, cross asset reporter at 6 00:00:22,160 --> 00:00:27,680 Speaker 3: Bloomberg News. Denza, you're looking at a popular company here 7 00:00:27,720 --> 00:00:29,800 Speaker 3: with anyone who works in an office in New York 8 00:00:29,880 --> 00:00:31,200 Speaker 3: City and likes to eat lunch. 9 00:00:31,320 --> 00:00:33,959 Speaker 4: We're talking about lunch and we're talking about Kava, and 10 00:00:34,159 --> 00:00:36,360 Speaker 4: I personally really like them. But they're having a pretty 11 00:00:36,360 --> 00:00:39,479 Speaker 4: bad day. They dropped as much as six percent and 12 00:00:39,520 --> 00:00:42,960 Speaker 4: now they're down about three percent. The losses are coming 13 00:00:43,080 --> 00:00:46,320 Speaker 4: after earnings report. That was a good earnings report, but 14 00:00:46,840 --> 00:00:50,640 Speaker 4: Alista's saying it doesn't just justify their hefty valuation. 15 00:00:51,360 --> 00:00:52,320 Speaker 5: So it's interesting. 16 00:00:52,360 --> 00:00:55,800 Speaker 4: That's obviously a very competitive place, a very competitive space. 17 00:00:56,600 --> 00:00:59,400 Speaker 4: There is Sweet Green, There are all those brands. Cove 18 00:00:59,560 --> 00:01:02,680 Speaker 4: is not less the most expensive, sweet Green is more expensive. 19 00:01:02,880 --> 00:01:05,759 Speaker 4: Cover raised their prices about two percent earlier in the year, 20 00:01:05,800 --> 00:01:10,080 Speaker 4: but they still remain a little bit cheaper than competitors. 21 00:01:10,200 --> 00:01:12,960 Speaker 4: We saw some good news in the report. Sales at 22 00:01:13,040 --> 00:01:17,240 Speaker 4: established restaurants grew. We saw some very important metrics of 23 00:01:17,400 --> 00:01:23,160 Speaker 4: earnings growing. One thing, COVA has been outpacing competitors in 24 00:01:23,200 --> 00:01:27,319 Speaker 4: the recent quarters, so expectations have been quite high going 25 00:01:27,360 --> 00:01:31,360 Speaker 4: into this report. Perhaps one reason we've seen some disappointment 26 00:01:31,560 --> 00:01:34,560 Speaker 4: the SNOW is actually down fifteen percent this year. Of 27 00:01:34,600 --> 00:01:37,240 Speaker 4: course this comes after one hundred and sixty percent search 28 00:01:37,360 --> 00:01:40,959 Speaker 4: last year. But definitely this earnings report is not adding 29 00:01:41,000 --> 00:01:43,880 Speaker 4: too much optimism for analysts. 30 00:01:44,280 --> 00:01:46,479 Speaker 3: That stock is still up one hundred and twenty five 31 00:01:46,600 --> 00:01:48,040 Speaker 3: percent since ipoing. 32 00:01:48,160 --> 00:01:51,000 Speaker 1: It is. However, if you go back and look at 33 00:01:51,040 --> 00:01:53,800 Speaker 1: the one year chart, then you go back to what 34 00:01:53,920 --> 00:01:57,320 Speaker 1: the highs of December of twenty twenty four, so not 35 00:01:57,360 --> 00:01:59,760 Speaker 1: even that long ago. It's still down about thirty six 36 00:01:59,800 --> 00:02:03,120 Speaker 1: percent from that all about time, eleven billion dollar market tap. 37 00:02:04,040 --> 00:02:05,320 Speaker 5: Yeah the food is good. 38 00:02:05,560 --> 00:02:07,520 Speaker 1: Yeah, we still don't have one near our office. I'm 39 00:02:07,560 --> 00:02:08,359 Speaker 1: just throwing it out there. 40 00:02:08,480 --> 00:02:11,679 Speaker 5: Yes that's true, but their dips are amazing. 41 00:02:11,960 --> 00:02:16,079 Speaker 4: But yeah, we digress. Okay, progress, Let's let's stark crypto. 42 00:02:16,360 --> 00:02:19,200 Speaker 4: Let's talk about coinbase. What a week it has been 43 00:02:19,240 --> 00:02:21,840 Speaker 4: for coinbase. I few in terms of news stories, It's 44 00:02:21,840 --> 00:02:24,880 Speaker 4: probably like a one year cycle in a week. So 45 00:02:24,960 --> 00:02:27,840 Speaker 4: the stock is actually up about nine percent on Friday, 46 00:02:28,960 --> 00:02:31,520 Speaker 4: and if you look at this week, if you zoom out, 47 00:02:31,560 --> 00:02:34,320 Speaker 4: I love that stat The stock is more than thirty 48 00:02:34,360 --> 00:02:36,919 Speaker 4: percent over the last five sessions, which is the best 49 00:02:36,960 --> 00:02:42,560 Speaker 4: weekly gain since presents Trump reelection. So the week started 50 00:02:42,639 --> 00:02:44,040 Speaker 4: with a lot of bad news. We had the news 51 00:02:44,080 --> 00:02:46,280 Speaker 4: about the hack that we had an estimate that is 52 00:02:46,320 --> 00:02:50,320 Speaker 4: going to cost about four hundred millions. We know hackers 53 00:02:50,320 --> 00:02:53,640 Speaker 4: gained access to customer data, names, dates of birth, all 54 00:02:53,680 --> 00:02:57,680 Speaker 4: those super sensitive information. There are a lot of investigations 55 00:02:57,680 --> 00:02:58,680 Speaker 4: and things going on. 56 00:02:59,160 --> 00:03:00,600 Speaker 5: But there is a lot of discerned with that. 57 00:03:00,680 --> 00:03:04,040 Speaker 4: We also had a confirmation of reports that US regulation 58 00:03:04,840 --> 00:03:09,120 Speaker 4: regulators were investigating the user figures the company quoted before 59 00:03:09,160 --> 00:03:09,680 Speaker 4: their IPO. 60 00:03:10,000 --> 00:03:12,399 Speaker 5: So obviously all those things up. 61 00:03:12,720 --> 00:03:16,040 Speaker 4: Away from this, the companies joined the S and P 62 00:03:16,120 --> 00:03:16,920 Speaker 4: five hundreds. 63 00:03:17,280 --> 00:03:18,880 Speaker 5: This is obviously a massive milestone. 64 00:03:18,880 --> 00:03:23,320 Speaker 4: It's happening next week and that's clearly boosting the stock, 65 00:03:23,400 --> 00:03:26,720 Speaker 4: adding a lot of optimism. Of course, the effect he 66 00:03:26,800 --> 00:03:29,679 Speaker 4: lives writing about it, but it's an important thing to 67 00:03:29,800 --> 00:03:33,840 Speaker 4: launch going forward. All those passive money mutual funds tracking 68 00:03:33,880 --> 00:03:35,120 Speaker 4: the stock, that's a big boost. 69 00:03:35,560 --> 00:03:38,080 Speaker 1: I could help that and that helped earlier this week 70 00:03:38,120 --> 00:03:39,640 Speaker 1: in the single day stock move, which was more than 71 00:03:39,640 --> 00:03:41,880 Speaker 1: twenty five percent. What I found fascinating you don't see 72 00:03:41,880 --> 00:03:44,520 Speaker 1: that every time a company is added to an index. 73 00:03:44,880 --> 00:03:46,440 Speaker 1: It's not you don't always see a bump like that. 74 00:03:46,480 --> 00:03:47,800 Speaker 1: I mean, why would you see a bump like that 75 00:03:47,840 --> 00:03:50,000 Speaker 1: with this time, but not necessarily other companies. 76 00:03:50,080 --> 00:03:52,640 Speaker 3: I think Coinbase is such a it's such a well 77 00:03:52,680 --> 00:03:56,800 Speaker 3: known name within the stock market, because sometimes the companies 78 00:03:56,840 --> 00:03:59,400 Speaker 3: get added to the SMP no offense to them, but 79 00:03:59,440 --> 00:04:01,120 Speaker 3: it's like, I don't here that name Coinbase. 80 00:04:01,160 --> 00:04:02,960 Speaker 5: You see the ads, they super ads. 81 00:04:02,960 --> 00:04:06,720 Speaker 3: They have obviously like a big popularity with anyone who's 82 00:04:06,880 --> 00:04:08,600 Speaker 3: trying to buy crypto in the US. A lot of 83 00:04:08,640 --> 00:04:12,200 Speaker 3: them use that exchange. It's a very like user friendly, 84 00:04:12,320 --> 00:04:15,960 Speaker 3: familiar company. So maybe that added to the market. 85 00:04:16,040 --> 00:04:18,159 Speaker 4: Actually, I totally agree with you. Also, it's a risk 86 00:04:18,240 --> 00:04:21,080 Speaker 4: one week, everything is rallying, all the risk concurrence of 87 00:04:21,120 --> 00:04:24,320 Speaker 4: the market crypto, so that that's also a stock that's. 88 00:04:24,200 --> 00:04:25,000 Speaker 5: Driven by sentiment. 89 00:04:25,160 --> 00:04:26,400 Speaker 1: Okay, thirty seconds left. 90 00:04:26,240 --> 00:04:29,559 Speaker 4: For Applied last one it feel as much as seven 91 00:04:29,560 --> 00:04:33,279 Speaker 4: point three percent. It came off a lackluster forecast for 92 00:04:33,320 --> 00:04:36,280 Speaker 4: the current period of course we're talking about the trade war. 93 00:04:36,320 --> 00:04:39,080 Speaker 4: Of course we're talking about China there. Of course, in 94 00:04:39,120 --> 00:04:41,320 Speaker 4: the last two weeks there has been so much back 95 00:04:41,360 --> 00:04:44,040 Speaker 4: and forth. But what we're seeing now is China accounted 96 00:04:44,160 --> 00:04:48,040 Speaker 4: for twenty five percent of applied material sales last quarter, 97 00:04:48,400 --> 00:04:51,720 Speaker 4: which is down from forty three percent, So a really 98 00:04:51,720 --> 00:04:54,960 Speaker 4: big job there. And obviously there is a lot of volatility. 99 00:04:55,160 --> 00:04:58,679 Speaker 4: This is currently the largest American maker of chip maker gear, 100 00:04:59,600 --> 00:05:02,440 Speaker 4: and it's likely going to be impacted by all of 101 00:05:02,480 --> 00:05:08,000 Speaker 4: those restrictions we're seeing on sales to China. And you know, 102 00:05:08,080 --> 00:05:10,280 Speaker 4: the company is still up two percent, So we yet 103 00:05:10,360 --> 00:05:13,039 Speaker 4: to see if the drop yesterday is if the drop 104 00:05:13,080 --> 00:05:14,080 Speaker 4: today is going to halt. 105 00:05:14,839 --> 00:05:17,480 Speaker 5: But a tough day today. 106 00:05:17,360 --> 00:05:21,360 Speaker 2: The Stock Movers report from Bloomberg Radio. 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