WEBVTT - Closing Bell: Tesla Jumps, Alphabet Gains, Corteva Drops

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on this stock movers report,

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenobeck, Romain, Bostik and Scarlet.

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<v Speaker 3>Food S and P five hundred you've got, actually, despite

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<v Speaker 3>a fairmatic green on the screen, three hundred and two

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<v Speaker 3>names in the s and P five hundred, KD losing

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<v Speaker 3>ground TODA one hundred and ninety nine to the upside

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<v Speaker 3>to unchange.

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<v Speaker 4>Well, let's see what the circle says about that. At

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<v Speaker 4>this sector level, you do have some pretty important sectors

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<v Speaker 4>in the green right now, Tech of course chief among them.

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<v Speaker 4>Con Communication services also having a really strong day. A

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<v Speaker 4>lot of that comes back to alphabet, which I'm sure

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<v Speaker 4>we'll discuss. Then you take a look at what isn't

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<v Speaker 4>doing too hot. Consumer staples lower by more than one percent,

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<v Speaker 4>healthcare also getting sold off today, so more red ben green.

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<v Speaker 4>At least taking a look at the sector breakdown, you

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<v Speaker 4>can see what is green on the circle definitely looks good.

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<v Speaker 3>Yeah, pretty dominant there. Let's get to some of the

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<v Speaker 3>individual gainers test.

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<v Speaker 1>Did you know that that William Taff, former president was

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<v Speaker 1>actually born on your wedding anniversary.

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<v Speaker 2>I well knew that.

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<v Speaker 4>There you go, that wasn't the deciding factor in the date.

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<v Speaker 3>Yeah, yeah, that's exactly it. We were talking about when

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<v Speaker 3>we would get married. News you can use all right,

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<v Speaker 3>Tesla top gainer in the S and P and Nasdaq

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<v Speaker 3>one hundred throughout the day. Nothing like the ultimate insider

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<v Speaker 3>Tesla insider buying shares. You guys all know the story,

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<v Speaker 3>Elon Musk. We're kind of responding to that unprecedent proposal

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<v Speaker 3>in terms of the Tesla board, the pay proposal of

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<v Speaker 3>one hundred one trillion dollars. Excuse me. Of course, there

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<v Speaker 3>are some conditions around it, but nonetheless Elon bought about

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<v Speaker 3>a billion dollars worth of shares, so it sent shares

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<v Speaker 3>of Tesla soaring up as much as seven and a

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<v Speaker 3>half percent in today's session, finishing though with about a

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<v Speaker 3>three point six percent gain in today's session. He bought

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<v Speaker 3>them indirectly a revocable trust revocable Excuse me? Is that

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<v Speaker 3>the way you're saying? What am I saying?

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<v Speaker 2>Is it right?

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<v Speaker 5>I'm not a lawyer.

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<v Speaker 4>That's one of those words that I read.

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<v Speaker 2>Is it's revocable?

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<v Speaker 3>Is it revocable. It didn't sound right when it came out. Okay,

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<v Speaker 3>he did that on September twelfth, according to regulatory filey.

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<v Speaker 3>What we really care abouking about?

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<v Speaker 1>Hey, Carol Master, did you know that Agatha Christie was

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<v Speaker 1>also born on this day in history?

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<v Speaker 3>Come back to us, remain come back to us.

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<v Speaker 2>All right, let's get a moment.

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<v Speaker 3>Kat I always need a moment. Katie mentioned Alphabet and

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<v Speaker 3>that's stock up about four and a half percent in

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<v Speaker 3>today's session. Yes, finishing with that three trillion dollar market cap,

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<v Speaker 3>so joining Nvidia, Microsoft, and Apple that trillion dollar market

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<v Speaker 3>three trillion dollar market club market cap club. So we

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<v Speaker 3>definitely see Alphabet go into it. This stock a top

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<v Speaker 3>gainer in the Nasdaq one hundred. And we should point

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<v Speaker 3>out that City raised its price target also on the

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<v Speaker 3>Google parent to two eighty from two twenty five, noting, yes,

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<v Speaker 3>competition facing the company's search business, but also noting greater

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<v Speaker 3>clarity around the Alphabet story when it comes to legal

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<v Speaker 3>and regulatory challenges, and they just think there's also a

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<v Speaker 3>healthy online advertising market. So all in on Alphabet today

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<v Speaker 3>and then Core we definitely an owperformer, up seven point

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<v Speaker 3>six percent in today's session, and that one the cloud

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<v Speaker 3>computing provider when public of course this year, saying at

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<v Speaker 3>shareholder and Video will buy cloud services with an initial

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<v Speaker 3>value of six point three billion. It's all part of

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<v Speaker 3>a deal that was announced a few years ago. But

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<v Speaker 3>it requires Nvidia to buy any excess capacity not used

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<v Speaker 3>by its customers. So Core, are you putting that out

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<v Speaker 3>in a regulatory filing? Anything else about September fifteenth that

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<v Speaker 3>I need to know for me?

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<v Speaker 5>Yeah, I've got a couple. I'm just waiting for the

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<v Speaker 5>right time to interject. Okay, okay, I'll start with some decliners.

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<v Speaker 5>This was the worst performer on a percentage basis in

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<v Speaker 5>the S and P five hundred. Courteva today down five

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<v Speaker 5>point seven percent, following the most inter day going back

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<v Speaker 5>to April of this year, Wall Street analysts find a

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<v Speaker 5>potential breakup of the company's seed and pesticide businesses negative

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<v Speaker 5>for the firm Bloomberg Intelligence as a breakup undermines product

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<v Speaker 5>and financial logic. Bank America says the separation would create

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<v Speaker 5>two weaker entities. You remember the report that we talked

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<v Speaker 5>about here on Friday from the Wall Street Journal said

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<v Speaker 5>that the seed and pesticide companies looking into separating into

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<v Speaker 5>two companies. They cited two people familiar with the matter.

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<v Speaker 5>Haines Celestial down twenty five percent today, lost a quarter

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<v Speaker 5>of its value. This after the company posted fiscal fourth

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<v Speaker 5>quarter results and revealed sales fell thirteen percent. Management provided

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<v Speaker 5>disappointing first quarter guidance. You know, this was only the

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<v Speaker 5>worst day going back to May. That was when it

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<v Speaker 5>fell forty seven percent in a single day. Stock is

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<v Speaker 5>down seventy four percent so far this year, and at

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<v Speaker 5>one point today it hit its lowest level in more

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<v Speaker 5>than thirty years. Going back tonight on with this, I.

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<v Speaker 1>Remember, like when I was younger, I so always you know,

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<v Speaker 1>all their teams that they had. Yeah, it was like

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<v Speaker 1>it was kind of like a staple in our house.

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<v Speaker 5>Celestial Seasoning is the tea. They also have Garden of

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<v Speaker 5>Eaten Chips. I'm like, I'm a big fan of the

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<v Speaker 5>Red Hot Blues. Yeah, I like this too. Those are

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<v Speaker 5>good Earth's Best baby formula, baby food and stuff. So

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<v Speaker 5>it's a pretty diversified portfolio, but they've been under pressure

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<v Speaker 5>for quite a while. Race is out there now, yes, right, yeah,

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<v Speaker 5>there are a lot of choices.

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<v Speaker 2>Doesn't even buy a box.

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<v Speaker 3>Probably if Haynes Celestial like you could either like yeah, buble.

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<v Speaker 5>I mean, I mean, have you been in a grocer.

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<v Speaker 3>Well, my point is like a share of their stock

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<v Speaker 3>is cheaper than probably Oh I got you. Sorry, I

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<v Speaker 3>jumped ahead a little bit, like drinks, some drinks.

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<v Speaker 5>Some dollar dollars six Yeah, okay, I'm just looking up

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<v Speaker 5>at the screen. VF Corp. Also under some pressure today.

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<v Speaker 5>The stock fell today just by about one percent at

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<v Speaker 5>the end of the day. Inter day was down more.

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<v Speaker 5>The company said it'll sell Dickies to brand management from

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<v Speaker 5>Blue Star Alliance for six hundred million dollars in cash.

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<v Speaker 5>They bought Dickies eight years ago for eight hundred and

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<v Speaker 5>twenty million dollars, the company's CFO said. Our CEO rather

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<v Speaker 5>said that the sale will enable VF to bring the

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<v Speaker 5>company's net debt level down.

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<v Speaker 1>Hey, I just want to chime in here at a

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<v Speaker 1>sort of honorable mention a small cap stock moving in

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<v Speaker 1>the after hours trade. Dave and Buster's tick her play

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<v Speaker 1>down as much as ten percent. They're reporting erniees and

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<v Speaker 1>it looks like a big miss here. Second quarter adjusted

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<v Speaker 1>EPs coming in at forty cents a share. The street

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<v Speaker 1>was looking for ninety cents, so a big miss on

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<v Speaker 1>that front. On the revenue side, a modest miss of

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<v Speaker 1>about five hundred and fifty seven one million dollars overall,

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<v Speaker 1>though comp sales down about three percent, and of course

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<v Speaker 1>a lot of people really trying to get a read

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<v Speaker 1>here on what's going on in the economy, whether we're

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<v Speaker 1>still spending more importantly, whether we are still spending on

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<v Speaker 1>discretionary items. We'll keep an eye on that space and

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<v Speaker 1>I'll bring you any updates as soon as we get them.

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<v Speaker 1>Just a quick check on yields, guys. We did see

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<v Speaker 1>the treasury curve shift lower here once again here on

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<v Speaker 1>the day. A lot of folks, of course, really trying

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<v Speaker 1>to reposition or simply position around the big Fed decision

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<v Speaker 1>which comes on Wednesday afternoon.

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

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the latest market

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<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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<v Speaker 5>Mm HM