WEBVTT - Cava Slips, Coinbase Bounces Back, Applied Materials Shares Fall

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some stocks on the move

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<v Speaker 3>today with us is Danitza's Sokova, cross asset reporter at

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<v Speaker 3>Bloomberg News. Denza, you're looking at a popular company here

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<v Speaker 3>with anyone who works in an office in New York

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<v Speaker 3>City and likes to eat lunch.

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<v Speaker 4>We're talking about lunch and we're talking about Kava, and

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<v Speaker 4>I personally really like them. But they're having a pretty

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<v Speaker 4>bad day. They dropped as much as six percent and

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<v Speaker 4>now they're down about three percent. The losses are coming

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<v Speaker 4>after earnings report. That was a good earnings report, but

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<v Speaker 4>Alista's saying it doesn't just justify their hefty valuation.

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<v Speaker 5>So it's interesting.

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<v Speaker 4>That's obviously a very competitive place, a very competitive space.

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<v Speaker 4>There is Sweet Green, There are all those brands. Cove

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<v Speaker 4>is not less the most expensive, sweet Green is more expensive.

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<v Speaker 4>Cover raised their prices about two percent earlier in the year,

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<v Speaker 4>but they still remain a little bit cheaper than competitors.

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<v Speaker 4>We saw some good news in the report. Sales at

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<v Speaker 4>established restaurants grew. We saw some very important metrics of

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<v Speaker 4>earnings growing. One thing, COVA has been outpacing competitors in

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<v Speaker 4>the recent quarters, so expectations have been quite high going

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<v Speaker 4>into this report. Perhaps one reason we've seen some disappointment

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<v Speaker 4>the SNOW is actually down fifteen percent this year. Of

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<v Speaker 4>course this comes after one hundred and sixty percent search

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<v Speaker 4>last year. But definitely this earnings report is not adding

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<v Speaker 4>too much optimism for analysts.

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<v Speaker 3>That stock is still up one hundred and twenty five

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<v Speaker 3>percent since ipoing.

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<v Speaker 1>It is. However, if you go back and look at

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<v Speaker 1>the one year chart, then you go back to what

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<v Speaker 1>the highs of December of twenty twenty four, so not

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<v Speaker 1>even that long ago. It's still down about thirty six

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<v Speaker 1>percent from that all about time, eleven billion dollar market tap.

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<v Speaker 5>Yeah the food is good.

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<v Speaker 1>Yeah, we still don't have one near our office. I'm

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<v Speaker 1>just throwing it out there.

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<v Speaker 5>Yes that's true, but their dips are amazing.

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<v Speaker 4>But yeah, we digress. Okay, progress, Let's let's stark crypto.

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<v Speaker 4>Let's talk about coinbase. What a week it has been

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<v Speaker 4>for coinbase. I few in terms of news stories, It's

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<v Speaker 4>probably like a one year cycle in a week. So

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<v Speaker 4>the stock is actually up about nine percent on Friday,

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<v Speaker 4>and if you look at this week, if you zoom out,

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<v Speaker 4>I love that stat The stock is more than thirty

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<v Speaker 4>percent over the last five sessions, which is the best

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<v Speaker 4>weekly gain since presents Trump reelection. So the week started

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<v Speaker 4>with a lot of bad news. We had the news

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<v Speaker 4>about the hack that we had an estimate that is

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<v Speaker 4>going to cost about four hundred millions. We know hackers

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<v Speaker 4>gained access to customer data, names, dates of birth, all

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<v Speaker 4>those super sensitive information. There are a lot of investigations

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<v Speaker 4>and things going on.

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<v Speaker 5>But there is a lot of discerned with that.

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<v Speaker 4>We also had a confirmation of reports that US regulation

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<v Speaker 4>regulators were investigating the user figures the company quoted before

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<v Speaker 4>their IPO.

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<v Speaker 5>So obviously all those things up.

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<v Speaker 4>Away from this, the companies joined the S and P

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<v Speaker 4>five hundreds.

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<v Speaker 5>This is obviously a massive milestone.

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<v Speaker 4>It's happening next week and that's clearly boosting the stock,

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<v Speaker 4>adding a lot of optimism. Of course, the effect he

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<v Speaker 4>lives writing about it, but it's an important thing to

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<v Speaker 4>launch going forward. All those passive money mutual funds tracking

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<v Speaker 4>the stock, that's a big boost.

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<v Speaker 1>I could help that and that helped earlier this week

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<v Speaker 1>in the single day stock move, which was more than

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<v Speaker 1>twenty five percent. What I found fascinating you don't see

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<v Speaker 1>that every time a company is added to an index.

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<v Speaker 1>It's not you don't always see a bump like that.

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<v Speaker 1>I mean, why would you see a bump like that

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<v Speaker 1>with this time, but not necessarily other companies.

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<v Speaker 3>I think Coinbase is such a it's such a well

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<v Speaker 3>known name within the stock market, because sometimes the companies

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<v Speaker 3>get added to the SMP no offense to them, but

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<v Speaker 3>it's like, I don't here that name Coinbase.

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<v Speaker 5>You see the ads, they super ads.

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<v Speaker 3>They have obviously like a big popularity with anyone who's

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<v Speaker 3>trying to buy crypto in the US. A lot of

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<v Speaker 3>them use that exchange. It's a very like user friendly,

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<v Speaker 3>familiar company. So maybe that added to the market.

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<v Speaker 4>Actually, I totally agree with you. Also, it's a risk

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<v Speaker 4>one week, everything is rallying, all the risk concurrence of

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<v Speaker 4>the market crypto, so that that's also a stock that's.

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<v Speaker 5>Driven by sentiment.

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<v Speaker 1>Okay, thirty seconds left.

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<v Speaker 4>For Applied last one it feel as much as seven

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<v Speaker 4>point three percent. It came off a lackluster forecast for

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<v Speaker 4>the current period of course we're talking about the trade war.

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<v Speaker 4>Of course we're talking about China there. Of course, in

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<v Speaker 4>the last two weeks there has been so much back

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<v Speaker 4>and forth. But what we're seeing now is China accounted

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<v Speaker 4>for twenty five percent of applied material sales last quarter,

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<v Speaker 4>which is down from forty three percent, So a really

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<v Speaker 4>big job there. And obviously there is a lot of volatility.

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<v Speaker 4>This is currently the largest American maker of chip maker gear,

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<v Speaker 4>and it's likely going to be impacted by all of

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<v Speaker 4>those restrictions we're seeing on sales to China. And you know,

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<v Speaker 4>the company is still up two percent, So we yet

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<v Speaker 4>to see if the drop yesterday is if the drop

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<v Speaker 4>today is going to halt.

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<v Speaker 5>But a tough day today.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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