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: I'm Jim Steeneveek along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today with us
Speaker 3: is Bloomberg News cross Asset reporter Emily GRIFFEO. Emily. A
Speaker 3: lot to choose from.
Speaker 4: Yeah, there was a lot to choose from.
Speaker 5: Let's start with micro Strategy now named Strategy to your
Speaker 5: mstr This is a bitcoin holding company and it's up
Speaker 5: about two percent right now. It's pairing games, though, was
Speaker 5: up almost eight percent earlier in the day, and it's
Speaker 5: all on this news that MSCI, one of the largest
Speaker 5: index providers, decided to keep digital asset.
Speaker 4: Treasury companies in its stocks.
Speaker 5: Right. Yes, so, back in October they had proposed excluding
Speaker 5: digital asset treasure companies from the indexes.
Speaker 4: And the reason why people care is because if a
Speaker 4: company is in.
Speaker 5: An index, like trillions of dollars, index funds by it,
Speaker 5: so it weighs on the stock a lot if it's
Speaker 5: not in the index. Late yesterday they said they're maintaining
Speaker 5: index treatment for digital asset treasuries, which includes strategy for now.
Speaker 5: They also said that they're going to be launching a
Speaker 5: broader consultation on how non operating companies should be treated.
Speaker 5: So there's something to do with you know, if the
Speaker 5: company just holds a lot of assets on its asset
Speaker 5: on its balance sheet and doesn't have like an actual business,
Speaker 5: what does that mean? But for now, the company is
Speaker 5: in and the stock is up.
Speaker 1: I feel like it's there's been back and forth on
Speaker 1: this one for a while, right, we've definitely seen its
Speaker 1: fortunes a little bit different.
Speaker 5: Yes, ate and not just MSCI, a lot of like
Speaker 5: there's been a lot of talker are they going to
Speaker 5: get added to the S and P five hundred?
Speaker 4: What would that mean?
Speaker 5: But again, they're a crypto company, and so the stock, yes,
Speaker 5: and the stock moves a lot in tandem with bitcoin.
Speaker 4: So it's down about sixty percent in the last year's.
Speaker 3: Okay, what else feeling about today?
Speaker 4: So I'm also looking at shares of Blackstone. This is
Speaker 4: an interesting one.
Speaker 5: The stock was down as much as nine percent today,
Speaker 5: now down about four percent. Donald Trump saying that he
Speaker 5: would move to ban institutional investors from buying single family home,
Speaker 5: so that you can see in the stock chart that
Speaker 5: that weighed on shares of Blackstone. Now if the stock
Speaker 5: is trimmed some losses, and we're also looking at some home.
Speaker 4: Builders down as well.
Speaker 5: Blackstone notorious for being a major investor in residential real estate.
Speaker 5: In twenty twenty one, they bought Home Partners of America
Speaker 5: in a six billion dollar deal.
Speaker 4: It was interesting though.
Speaker 5: Neil Duta from Renaissance Macro had a note out he said,
Speaker 5: institutional investors represent a very small share of sales, like
Speaker 5: just two percent, and bag our investors buy other retail
Speaker 5: by other homes to.
Speaker 3: Mike McKee, who earlier today sent me a note, a
Speaker 3: long note from the American Enterprise Institute that had done
Speaker 3: research on this, and perhaps this was that Neil was
Speaker 3: referring to. But the research, they argue at the American
Speaker 3: Enterprise Institute doesn't support the narrative that institutional ownership of
Speaker 3: homes drives up home prices.
Speaker 5: Right.
Speaker 4: But nevertheless, look at how the stock reacted.
Speaker 5: We saw this truth social post from Trump, and I
Speaker 5: mean the stock fille nine percent.
Speaker 1: So you know, it's it's fascinating because I think after
Speaker 1: the Great financial crisis, right, and there were so much
Speaker 1: excess homes that were out there, and people were like
Speaker 1: doing things like maybe we should blow them up, maybe
Speaker 1: we should let immigrants buy them, like do different things
Speaker 1: to get rid of that excess supply. And then Blackstone
Speaker 1: started buying up those properties rental and it was a
Speaker 1: smart bet. But that was my question too, It's like,
Speaker 1: how much are they really buying up in terms of
Speaker 1: the supply that are out there.
Speaker 5: Yeah. I feel like this is like a meme on
Speaker 5: financial Twitter. You see a lot of people constantly talking
Speaker 5: about the housing crisis, and then Blackstone always comes.
Speaker 3: To Politically, It's a very populous thing to do.
Speaker 4: Yeah, it sounds good.
Speaker 1: I've actually had family members when we about politics and like,
Speaker 1: well to all the institutional investors, you own homes. And
Speaker 1: I'm like, I'm not so sure.
Speaker 4: Yeah. All right.
Speaker 1: Let's talk about another thing that has come out of
Speaker 1: the President today. He has been talking about the defense companies.
Speaker 5: Right, so Lockheed Martin this is TAKR lmt's down about
Speaker 5: two percent. Trump coming out today saying he will not
Speaker 5: permit dividends or stock buybacks for defense companies until problems
Speaker 5: are rectified, including pay production of equipment and plants. So
Speaker 5: back in December he had kind of signaled this desire
Speaker 5: to meet with defense contractor execs and tell them to
Speaker 5: spend more on weapons development and not stock buybacks. So
Speaker 5: we're seeing some of that action come to light today.
Speaker 5: And yeah, the stock down about two percent.
Speaker 1: Yeah, I've seen a few names fight move in on that.
Speaker 4: Hey, Emily, thank you. Actually three percent now, ah moved.
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