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 00:00:16,840 --> 00:00:19,279 Speaker 3: I'm Jim Steeneveek along with Carol Masser. Let's take a 5 00:00:19,280 --> 00:00:20,960 Speaker 3: look at some stocks on the move today with us 6 00:00:21,040 --> 00:00:25,200 Speaker 3: is Bloomberg News cross Asset reporter Emily GRIFFEO. Emily. A 7 00:00:25,200 --> 00:00:26,280 Speaker 3: lot to choose from. 8 00:00:26,120 --> 00:00:28,400 Speaker 4: Yeah, there was a lot to choose from. 9 00:00:28,520 --> 00:00:31,680 Speaker 5: Let's start with micro Strategy now named Strategy to your 10 00:00:31,800 --> 00:00:35,519 Speaker 5: mstr This is a bitcoin holding company and it's up 11 00:00:35,520 --> 00:00:38,560 Speaker 5: about two percent right now. It's pairing games, though, was 12 00:00:38,680 --> 00:00:41,040 Speaker 5: up almost eight percent earlier in the day, and it's 13 00:00:41,080 --> 00:00:43,839 Speaker 5: all on this news that MSCI, one of the largest 14 00:00:44,040 --> 00:00:48,760 Speaker 5: index providers, decided to keep digital asset. 15 00:00:48,400 --> 00:00:50,320 Speaker 4: Treasury companies in its stocks. 16 00:00:51,240 --> 00:00:55,400 Speaker 5: Right. Yes, so, back in October they had proposed excluding 17 00:00:55,720 --> 00:00:58,760 Speaker 5: digital asset treasure companies from the indexes. 18 00:00:58,800 --> 00:01:00,680 Speaker 4: And the reason why people care is because if a 19 00:01:00,720 --> 00:01:01,279 Speaker 4: company is in. 20 00:01:01,240 --> 00:01:05,880 Speaker 5: An index, like trillions of dollars, index funds by it, 21 00:01:06,160 --> 00:01:07,760 Speaker 5: so it weighs on the stock a lot if it's 22 00:01:07,800 --> 00:01:11,640 Speaker 5: not in the index. Late yesterday they said they're maintaining 23 00:01:11,680 --> 00:01:16,319 Speaker 5: index treatment for digital asset treasuries, which includes strategy for now. 24 00:01:16,800 --> 00:01:19,560 Speaker 5: They also said that they're going to be launching a 25 00:01:19,600 --> 00:01:23,720 Speaker 5: broader consultation on how non operating companies should be treated. 26 00:01:23,760 --> 00:01:26,280 Speaker 5: So there's something to do with you know, if the 27 00:01:26,319 --> 00:01:28,840 Speaker 5: company just holds a lot of assets on its asset 28 00:01:29,319 --> 00:01:32,120 Speaker 5: on its balance sheet and doesn't have like an actual business, 29 00:01:32,840 --> 00:01:35,600 Speaker 5: what does that mean? But for now, the company is 30 00:01:35,600 --> 00:01:37,399 Speaker 5: in and the stock is up. 31 00:01:37,480 --> 00:01:39,600 Speaker 1: I feel like it's there's been back and forth on 32 00:01:39,640 --> 00:01:41,880 Speaker 1: this one for a while, right, we've definitely seen its 33 00:01:41,920 --> 00:01:43,080 Speaker 1: fortunes a little bit different. 34 00:01:43,160 --> 00:01:45,920 Speaker 5: Yes, ate and not just MSCI, a lot of like 35 00:01:46,040 --> 00:01:47,600 Speaker 5: there's been a lot of talker are they going to 36 00:01:47,600 --> 00:01:49,160 Speaker 5: get added to the S and P five hundred? 37 00:01:49,200 --> 00:01:50,040 Speaker 4: What would that mean? 38 00:01:50,480 --> 00:01:55,640 Speaker 5: But again, they're a crypto company, and so the stock, yes, 39 00:01:56,000 --> 00:01:59,160 Speaker 5: and the stock moves a lot in tandem with bitcoin. 40 00:01:59,320 --> 00:02:02,280 Speaker 4: So it's down about sixty percent in the last year's. 41 00:02:02,200 --> 00:02:03,440 Speaker 3: Okay, what else feeling about today? 42 00:02:03,520 --> 00:02:05,400 Speaker 4: So I'm also looking at shares of Blackstone. This is 43 00:02:05,400 --> 00:02:06,160 Speaker 4: an interesting one. 44 00:02:06,200 --> 00:02:09,120 Speaker 5: The stock was down as much as nine percent today, 45 00:02:09,560 --> 00:02:13,639 Speaker 5: now down about four percent. Donald Trump saying that he 46 00:02:13,680 --> 00:02:17,560 Speaker 5: would move to ban institutional investors from buying single family home, 47 00:02:17,680 --> 00:02:20,240 Speaker 5: so that you can see in the stock chart that 48 00:02:20,240 --> 00:02:24,200 Speaker 5: that weighed on shares of Blackstone. Now if the stock 49 00:02:24,280 --> 00:02:28,119 Speaker 5: is trimmed some losses, and we're also looking at some home. 50 00:02:27,880 --> 00:02:30,160 Speaker 4: Builders down as well. 51 00:02:30,560 --> 00:02:35,560 Speaker 5: Blackstone notorious for being a major investor in residential real estate. 52 00:02:35,560 --> 00:02:38,000 Speaker 5: In twenty twenty one, they bought Home Partners of America 53 00:02:38,080 --> 00:02:39,400 Speaker 5: in a six billion dollar deal. 54 00:02:40,120 --> 00:02:40,840 Speaker 4: It was interesting though. 55 00:02:40,880 --> 00:02:44,000 Speaker 5: Neil Duta from Renaissance Macro had a note out he said, 56 00:02:44,240 --> 00:02:49,400 Speaker 5: institutional investors represent a very small share of sales, like 57 00:02:49,520 --> 00:02:52,840 Speaker 5: just two percent, and bag our investors buy other retail 58 00:02:53,200 --> 00:02:54,000 Speaker 5: by other homes to. 59 00:02:53,960 --> 00:02:56,560 Speaker 3: Mike McKee, who earlier today sent me a note, a 60 00:02:56,600 --> 00:02:59,040 Speaker 3: long note from the American Enterprise Institute that had done 61 00:02:59,040 --> 00:03:01,360 Speaker 3: research on this, and perhaps this was that Neil was 62 00:03:01,400 --> 00:03:04,600 Speaker 3: referring to. But the research, they argue at the American 63 00:03:04,720 --> 00:03:09,080 Speaker 3: Enterprise Institute doesn't support the narrative that institutional ownership of 64 00:03:09,120 --> 00:03:10,480 Speaker 3: homes drives up home prices. 65 00:03:10,560 --> 00:03:10,760 Speaker 5: Right. 66 00:03:11,200 --> 00:03:13,840 Speaker 4: But nevertheless, look at how the stock reacted. 67 00:03:13,960 --> 00:03:17,320 Speaker 5: We saw this truth social post from Trump, and I 68 00:03:17,360 --> 00:03:19,160 Speaker 5: mean the stock fille nine percent. 69 00:03:19,360 --> 00:03:22,280 Speaker 1: So you know, it's it's fascinating because I think after 70 00:03:22,600 --> 00:03:25,360 Speaker 1: the Great financial crisis, right, and there were so much 71 00:03:25,639 --> 00:03:28,960 Speaker 1: excess homes that were out there, and people were like 72 00:03:29,120 --> 00:03:31,040 Speaker 1: doing things like maybe we should blow them up, maybe 73 00:03:31,080 --> 00:03:33,880 Speaker 1: we should let immigrants buy them, like do different things 74 00:03:34,240 --> 00:03:36,400 Speaker 1: to get rid of that excess supply. And then Blackstone 75 00:03:36,440 --> 00:03:39,600 Speaker 1: started buying up those properties rental and it was a 76 00:03:39,640 --> 00:03:42,320 Speaker 1: smart bet. But that was my question too, It's like, 77 00:03:42,760 --> 00:03:45,600 Speaker 1: how much are they really buying up in terms of 78 00:03:45,640 --> 00:03:46,640 Speaker 1: the supply that are out there. 79 00:03:46,720 --> 00:03:48,640 Speaker 5: Yeah. I feel like this is like a meme on 80 00:03:49,560 --> 00:03:52,800 Speaker 5: financial Twitter. You see a lot of people constantly talking 81 00:03:52,840 --> 00:03:55,200 Speaker 5: about the housing crisis, and then Blackstone always comes. 82 00:03:55,080 --> 00:03:57,120 Speaker 3: To Politically, It's a very populous thing to do. 83 00:03:57,800 --> 00:03:58,680 Speaker 4: Yeah, it sounds good. 84 00:03:58,680 --> 00:04:00,920 Speaker 1: I've actually had family members when we about politics and like, 85 00:04:00,960 --> 00:04:03,040 Speaker 1: well to all the institutional investors, you own homes. And 86 00:04:03,080 --> 00:04:04,240 Speaker 1: I'm like, I'm not so sure. 87 00:04:04,440 --> 00:04:05,080 Speaker 4: Yeah. All right. 88 00:04:05,160 --> 00:04:07,440 Speaker 1: Let's talk about another thing that has come out of 89 00:04:07,480 --> 00:04:10,840 Speaker 1: the President today. He has been talking about the defense companies. 90 00:04:10,560 --> 00:04:13,360 Speaker 5: Right, so Lockheed Martin this is TAKR lmt's down about 91 00:04:13,400 --> 00:04:16,520 Speaker 5: two percent. Trump coming out today saying he will not 92 00:04:16,720 --> 00:04:20,800 Speaker 5: permit dividends or stock buybacks for defense companies until problems 93 00:04:20,839 --> 00:04:24,680 Speaker 5: are rectified, including pay production of equipment and plants. So 94 00:04:24,760 --> 00:04:28,240 Speaker 5: back in December he had kind of signaled this desire 95 00:04:28,320 --> 00:04:31,200 Speaker 5: to meet with defense contractor execs and tell them to 96 00:04:31,200 --> 00:04:35,120 Speaker 5: spend more on weapons development and not stock buybacks. So 97 00:04:35,160 --> 00:04:38,719 Speaker 5: we're seeing some of that action come to light today. 98 00:04:38,839 --> 00:04:40,920 Speaker 5: And yeah, the stock down about two percent. 99 00:04:41,279 --> 00:04:43,240 Speaker 1: Yeah, I've seen a few names fight move in on that. 100 00:04:43,400 --> 00:04:46,960 Speaker 4: Hey, Emily, thank you. Actually three percent now, ah moved. 101 00:04:46,680 --> 00:04:52,240 Speaker 2: Even more the stock mover's report from Bloomberg Radio. Check 102 00:04:52,279 --> 00:04:54,640 Speaker 2: back with us throughout the day for the latest roundup 103 00:04:54,640 --> 00:04:57,599 Speaker 2: of companies making news on Wall Street and for the 104 00:04:57,680 --> 00:05:02,120 Speaker 2: latest market moving headlines. 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