1 00:00:02,520 --> 00:00:07,440 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 --> 00:00:16,280 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,760 --> 00:00:18,200 Speaker 3: Let's take a look at some of the stocks on 5 00:00:18,239 --> 00:00:20,880 Speaker 3: the move today. I'm Paul Swingey alongside Scarlet Fu and 6 00:00:20,920 --> 00:00:23,320 Speaker 3: we're joined by Bloombergs Isabelle Lee, Isabelle, what are you 7 00:00:23,360 --> 00:00:23,680 Speaker 3: looking at? 8 00:00:23,800 --> 00:00:25,800 Speaker 1: We have to talk about Coinbase. So the stock is 9 00:00:25,880 --> 00:00:28,880 Speaker 1: higher by around six percent. The company reported revenue that 10 00:00:29,000 --> 00:00:32,479 Speaker 1: exceeded estimates, and of course this was helped by crypto, 11 00:00:32,560 --> 00:00:35,120 Speaker 1: which really just rose to record highs. Bitcoin is now 12 00:00:35,159 --> 00:00:37,000 Speaker 1: around one hundred and ten though, so it's paired back 13 00:00:37,040 --> 00:00:39,800 Speaker 1: some of those record games from one hundred and twenty 14 00:00:39,800 --> 00:00:42,720 Speaker 1: five thousand, but still it's six digits. So crypt Coinbase 15 00:00:42,800 --> 00:00:45,839 Speaker 1: is the largest US crypto exchange. It reported revenue that 16 00:00:45,880 --> 00:00:49,840 Speaker 1: increased by fifty five percent. Netcin income also rows five fold. 17 00:00:49,880 --> 00:00:52,839 Speaker 1: Trading volume also increased. Overall, has just really been a 18 00:00:52,840 --> 00:00:55,080 Speaker 1: great year for digital assets. We've talked about this the 19 00:00:55,200 --> 00:00:58,720 Speaker 1: whole year because of the pro crypto administration, the first 20 00:00:58,800 --> 00:01:01,880 Speaker 1: law regulating stable points in July and Brian Armstrong, the 21 00:01:01,920 --> 00:01:03,840 Speaker 1: CEO of the company is now one of the biggest 22 00:01:03,920 --> 00:01:07,679 Speaker 1: high profile crypto advocates and really always supports Trump, and 23 00:01:07,800 --> 00:01:10,959 Speaker 1: a lot of brokers have upgraded Coinbase from sell to buy. 24 00:01:11,360 --> 00:01:13,600 Speaker 2: Yeah, a lot of momentum in that crypto industry. All right, 25 00:01:13,640 --> 00:01:14,520 Speaker 2: let's talk about Reddit. 26 00:01:15,080 --> 00:01:18,120 Speaker 1: Reddit r DDT is the ticker. The stock is up 27 00:01:18,160 --> 00:01:21,920 Speaker 1: by more than fifteen percent after results that beat expectations. 28 00:01:21,959 --> 00:01:23,840 Speaker 1: That's the highest in a month. It also gave an 29 00:01:23,840 --> 00:01:26,399 Speaker 1: outlook that is above analyst consensus. So Reddit is a 30 00:01:26,400 --> 00:01:29,040 Speaker 1: social media platform and this code earnings report is a 31 00:01:29,120 --> 00:01:31,840 Speaker 1: sign that the company's at business will continue to grow 32 00:01:32,160 --> 00:01:35,440 Speaker 1: really at a steady clip after its IPO around a 33 00:01:35,520 --> 00:01:37,880 Speaker 1: year and a half ago. So since listing, Reddit just 34 00:01:37,920 --> 00:01:40,600 Speaker 1: really has begun to try to diversify its ad business. 35 00:01:40,800 --> 00:01:43,319 Speaker 1: It also tried to capitalize on the growing trove of 36 00:01:43,480 --> 00:01:46,280 Speaker 1: you know, user posts and now AI companies are using 37 00:01:46,280 --> 00:01:49,480 Speaker 1: that they use those to train valuable AI models, And 38 00:01:50,000 --> 00:01:53,280 Speaker 1: the Reddit COO actually said that they're an AI winner 39 00:01:53,320 --> 00:01:56,400 Speaker 1: because they're asset light, because their content is what a 40 00:01:56,400 --> 00:01:58,480 Speaker 1: lot of the companies are using. And I find myself 41 00:01:58,520 --> 00:02:01,040 Speaker 1: actually using Reddit more and more. Me too, because I 42 00:02:01,040 --> 00:02:03,760 Speaker 1: feel like it's honest. So I look at the site 43 00:02:03,760 --> 00:02:05,760 Speaker 1: for reviews and like thoughts of never. 44 00:02:06,440 --> 00:02:07,600 Speaker 3: Really you should dry. 45 00:02:07,680 --> 00:02:08,799 Speaker 2: You just need to find. 46 00:02:08,639 --> 00:02:10,120 Speaker 3: Something when I do a search for it, and I'll 47 00:02:10,160 --> 00:02:11,200 Speaker 3: find that there's is. 48 00:02:11,160 --> 00:02:12,959 Speaker 1: This a good hair straightener? Reddit? 49 00:02:13,200 --> 00:02:16,959 Speaker 3: And then it will come up. Yes, reddit is real people, really. 50 00:02:16,760 --> 00:02:18,120 Speaker 1: Yes, passionate people. 51 00:02:18,440 --> 00:02:20,840 Speaker 3: Can I do to my Google search rate it? 52 00:02:21,040 --> 00:02:23,240 Speaker 1: You've got to move on, Paul, We will watch it 53 00:02:23,720 --> 00:02:24,720 Speaker 1: later after the show. 54 00:02:25,520 --> 00:02:26,280 Speaker 3: What's going on there? 55 00:02:26,480 --> 00:02:28,959 Speaker 1: Real good? The tickers are okay. You shares are up 56 00:02:29,120 --> 00:02:31,520 Speaker 1: more than fifteen percent. That's the highest since April twenty 57 00:02:31,560 --> 00:02:33,959 Speaker 1: twenty two if you go to since si ns go. 58 00:02:34,560 --> 00:02:38,320 Speaker 1: That comes after the company reported earnings that really beat expectations. 59 00:02:38,320 --> 00:02:41,240 Speaker 1: It also marked the company's first quarter with positive operating 60 00:02:41,320 --> 00:02:43,880 Speaker 1: income since twenty twenty one, and of course Wall Street 61 00:02:43,919 --> 00:02:47,240 Speaker 1: is positive across the board. Bloomberg Intelligence said that results 62 00:02:47,280 --> 00:02:50,400 Speaker 1: are good, although not gangbusters. Benjmark said that this is 63 00:02:50,760 --> 00:02:53,240 Speaker 1: also a good earnings report. Their only concern is that 64 00:02:53,280 --> 00:02:56,840 Speaker 1: they've consistently had and we'll have expectations that are a 65 00:02:56,840 --> 00:02:58,880 Speaker 1: little too far ahead from reality. But for now it's 66 00:02:58,919 --> 00:03:01,480 Speaker 1: good and ever Core also said it's a generally solid report. 67 00:03:01,680 --> 00:03:03,560 Speaker 3: I'll tell you what the shout out to Lar Martin 68 00:03:03,600 --> 00:03:06,000 Speaker 3: and Needham and Company. She's been pounding the table on 69 00:03:06,040 --> 00:03:08,520 Speaker 3: this name for a couple of years. This has been 70 00:03:08,560 --> 00:03:10,240 Speaker 3: like our top pick, and she's been so right on 71 00:03:10,320 --> 00:03:11,920 Speaker 3: that name. So we'll shut up Barmart. 72 00:03:11,960 --> 00:03:17,560 Speaker 2: There this stock Movers report from Bloomberg Radio. Check back 73 00:03:17,600 --> 00:03:19,840 Speaker 2: with us throughout the day for the latest roundup of 74 00:03:19,880 --> 00:03:23,160 Speaker 2: companies making news on Wall Street and for the latest 75 00:03:23,200 --> 00:03:27,400 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 76 00:03:27,440 --> 00:03:31,200 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 77 00:03:31,200 --> 00:03:33,160 Speaker 2: Auto with the Bloomberg Business app.