Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move
Speaker 3: today with us is Danitza's Sokova, cross asset reporter at
Speaker 3: Bloomberg News. Denza, you're looking at a popular company here
Speaker 3: with anyone who works in an office in New York
Speaker 3: City and likes to eat lunch.
Speaker 4: We're talking about lunch and we're talking about Kava, and
Speaker 4: I personally really like them. But they're having a pretty
Speaker 4: bad day. They dropped as much as six percent and
Speaker 4: now they're down about three percent. The losses are coming
Speaker 4: after earnings report. That was a good earnings report, but
Speaker 4: Alista's saying it doesn't just justify their hefty valuation.
Speaker 5: So it's interesting.
Speaker 4: That's obviously a very competitive place, a very competitive space.
Speaker 4: There is Sweet Green, There are all those brands. Cove
Speaker 4: is not less the most expensive, sweet Green is more expensive.
Speaker 4: Cover raised their prices about two percent earlier in the year,
Speaker 4: but they still remain a little bit cheaper than competitors.
Speaker 4: We saw some good news in the report. Sales at
Speaker 4: established restaurants grew. We saw some very important metrics of
Speaker 4: earnings growing. One thing, COVA has been outpacing competitors in
Speaker 4: the recent quarters, so expectations have been quite high going
Speaker 4: into this report. Perhaps one reason we've seen some disappointment
Speaker 4: the SNOW is actually down fifteen percent this year. Of
Speaker 4: course this comes after one hundred and sixty percent search
Speaker 4: last year. But definitely this earnings report is not adding
Speaker 4: too much optimism for analysts.
Speaker 3: That stock is still up one hundred and twenty five
Speaker 3: percent since ipoing.
Speaker 1: It is. However, if you go back and look at
Speaker 1: the one year chart, then you go back to what
Speaker 1: the highs of December of twenty twenty four, so not
Speaker 1: even that long ago. It's still down about thirty six
Speaker 1: percent from that all about time, eleven billion dollar market tap.
Speaker 5: Yeah the food is good.
Speaker 1: Yeah, we still don't have one near our office. I'm
Speaker 1: just throwing it out there.
Speaker 5: Yes that's true, but their dips are amazing.
Speaker 4: But yeah, we digress. Okay, progress, Let's let's stark crypto.
Speaker 4: Let's talk about coinbase. What a week it has been
Speaker 4: for coinbase. I few in terms of news stories, It's
Speaker 4: probably like a one year cycle in a week. So
Speaker 4: the stock is actually up about nine percent on Friday,
Speaker 4: and if you look at this week, if you zoom out,
Speaker 4: I love that stat The stock is more than thirty
Speaker 4: percent over the last five sessions, which is the best
Speaker 4: weekly gain since presents Trump reelection. So the week started
Speaker 4: with a lot of bad news. We had the news
Speaker 4: about the hack that we had an estimate that is
Speaker 4: going to cost about four hundred millions. We know hackers
Speaker 4: gained access to customer data, names, dates of birth, all
Speaker 4: those super sensitive information. There are a lot of investigations
Speaker 4: and things going on.
Speaker 5: But there is a lot of discerned with that.
Speaker 4: We also had a confirmation of reports that US regulation
Speaker 4: regulators were investigating the user figures the company quoted before
Speaker 4: their IPO.
Speaker 5: So obviously all those things up.
Speaker 4: Away from this, the companies joined the S and P
Speaker 4: five hundreds.
Speaker 5: This is obviously a massive milestone.
Speaker 4: It's happening next week and that's clearly boosting the stock,
Speaker 4: adding a lot of optimism. Of course, the effect he
Speaker 4: lives writing about it, but it's an important thing to
Speaker 4: launch going forward. All those passive money mutual funds tracking
Speaker 4: the stock, that's a big boost.
Speaker 1: I could help that and that helped earlier this week
Speaker 1: in the single day stock move, which was more than
Speaker 1: twenty five percent. What I found fascinating you don't see
Speaker 1: that every time a company is added to an index.
Speaker 1: It's not you don't always see a bump like that.
Speaker 1: I mean, why would you see a bump like that
Speaker 1: with this time, but not necessarily other companies.
Speaker 3: I think Coinbase is such a it's such a well
Speaker 3: known name within the stock market, because sometimes the companies
Speaker 3: get added to the SMP no offense to them, but
Speaker 3: it's like, I don't here that name Coinbase.
Speaker 5: You see the ads, they super ads.
Speaker 3: They have obviously like a big popularity with anyone who's
Speaker 3: trying to buy crypto in the US. A lot of
Speaker 3: them use that exchange. It's a very like user friendly,
Speaker 3: familiar company. So maybe that added to the market.
Speaker 4: Actually, I totally agree with you. Also, it's a risk
Speaker 4: one week, everything is rallying, all the risk concurrence of
Speaker 4: the market crypto, so that that's also a stock that's.
Speaker 5: Driven by sentiment.
Speaker 1: Okay, thirty seconds left.
Speaker 4: For Applied last one it feel as much as seven
Speaker 4: point three percent. It came off a lackluster forecast for
Speaker 4: the current period of course we're talking about the trade war.
Speaker 4: Of course we're talking about China there. Of course, in
Speaker 4: the last two weeks there has been so much back
Speaker 4: and forth. But what we're seeing now is China accounted
Speaker 4: for twenty five percent of applied material sales last quarter,
Speaker 4: which is down from forty three percent, So a really
Speaker 4: big job there. And obviously there is a lot of volatility.
Speaker 4: This is currently the largest American maker of chip maker gear,
Speaker 4: and it's likely going to be impacted by all of
Speaker 4: those restrictions we're seeing on sales to China. And you know,
Speaker 4: the company is still up two percent, So we yet
Speaker 4: to see if the drop yesterday is if the drop
Speaker 4: today is going to halt.
Speaker 5: But a tough day today.
Speaker 2: The 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,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.