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: Let's take a look at some stocks on the move today.
Speaker 3: I'm Tim Stenovik with Carroll Master. We are joined by
Speaker 3: Bloomberg News Credit reporter Emily Graffeo Hamley. Hello, how are you.
Speaker 3: I'm good good, Welcome to Stock's on the Move on
Speaker 3: Bloomberg Business Week Daily.
Speaker 2: Thank you.
Speaker 4: This is my first time, no now you longtime guest,
Speaker 4: very frequent co anchor as well, and we always appreciate
Speaker 4: it when you take time away.
Speaker 3: From the credit dusk individual to hang out with us.
Speaker 5: Okay, so we're going to talk about a stock, but
Speaker 5: I'm also going to sneak in a credit angle.
Speaker 3: Yes, there we go.
Speaker 5: SpaceX ticker SPCX ending the day about one percent higher.
Speaker 5: It was a very choppy trading session for the stock
Speaker 5: goes up, it was down, but nevertheless a three day
Speaker 5: sell off that wiped more than six hundred billion dollars
Speaker 5: from the company over the last three days. Today, you know,
Speaker 5: ending the day up one percent. They came to the
Speaker 5: bond market today, which was very exciting for my neck
Speaker 5: of the woods. They raised twenty five billion dollars of bonds.
Speaker 5: They were rated investment grade, which is pretty good for
Speaker 5: I don't want to call them a startup because they're
Speaker 5: so big, but like, it's kind of rare to see
Speaker 5: a company like SpaceX get this investment grade rating. They're
Speaker 5: like blowing through cash and now suddenly this rating means
Speaker 5: that they have a lower cost of capital. They can
Speaker 5: essentially tap into this very deep pool of liquidity and
Speaker 5: borrow money from all different kinds of people for not
Speaker 5: very much cost.
Speaker 3: Do we know a long sort of the curve or
Speaker 3: like how demand looked for different maturities.
Speaker 5: We do. There was actually a lot of demand for
Speaker 5: these shorter dated bonds, which is interesting because it could
Speaker 5: signal investors not really wanting to throw their support behind
Speaker 5: any long term goals for SpaceX. Maybe they're a little
Speaker 5: bit uncertain about what this company is going to do
Speaker 5: in ten twenty thirty years. They don't want to tie
Speaker 5: their money up for that long. So actually this deal
Speaker 5: had most of the demand at the front end, which
Speaker 5: is actually kind of rare for that market.
Speaker 1: How much was well, how much was shorter duration?
Speaker 5: I don't have it in sorry, but it okay, we're
Speaker 5: going to put it up.
Speaker 1: But it is an interesting element, right it and gets
Speaker 1: into the psyche of front of four.
Speaker 3: Billion in the five year and then if there was
Speaker 3: only nine point four billion at this thirty.
Speaker 1: Year, so the majority was shorter in sixteen and a.
Speaker 3: Half billion, seven year, fifteen and a half at ten year.
Speaker 3: You know, it's interesting. One of our audience members got
Speaker 3: in touch and said, the way that he looks at
Speaker 3: this is it's a challenge to value SpaceX out thirty
Speaker 3: years because of so much disruption, Like it feels like
Speaker 3: in this environment every three months things get shaken up,
Speaker 3: which I thought was a Really that's one view. The
Speaker 3: other view is, wait a second, we have no idea
Speaker 3: what this thing is going to look like.
Speaker 2: In thirty years.
Speaker 5: I mean they still raise the money. Yeah, they got
Speaker 5: it done.
Speaker 1: So investors were there and they're there.
Speaker 5: Yeah, I heard like, it wasn't it wasn't amazing. It
Speaker 5: wasn't a blowout, but it wasn't a disaster. They got
Speaker 5: it done. You know, the demand was okay, and now
Speaker 5: they have the money.
Speaker 1: Because it's Elon and the potential for outperformance or you know,
Speaker 1: who knows where this goes is always there. It's an
Speaker 1: element of upside surprise, but also questions.
Speaker 5: I have another like Moonshoddy, science fiction sounding stock, quantin
Speaker 5: quantinum continuum, continuum. I don't know the ticker. I can
Speaker 5: pronounce Q and T. It was at thirteen percent today.
Speaker 5: There were a number of quantum computing stocks higher. President
Speaker 5: Trump on Monday signed executive orders aimed at boosting the sector,
Speaker 5: so quantum stocks were hired. This was a day when
Speaker 5: most tech stocks were actually selling off, but this was
Speaker 5: a bright spot. Investors really like quantum computing. I guess
Speaker 5: they see the promise in it. I wish I could
Speaker 5: explain how it works, but the idea here. At least
Speaker 5: according to Wedbush's Matt Bryson, the government appears to be
Speaker 5: tailoring policy to support earlier investments. They expect that these
Speaker 5: technology development objectives are going to drive near to midterm
Speaker 5: revenue across the quantum ecosystem, so those stocks getting a boost.
Speaker 1: Quantum computing works by using quantum bits are qubits, are quibits. Basically,
Speaker 1: I think there's a lot of computations that I think
Speaker 1: are happening at the same time, and that's why it
Speaker 1: makes it super powerful, and things can be explained anyway.
Speaker 1: To be continued. I'm just gonna say, all right, what
Speaker 1: do you got for the third stock? Right?
Speaker 5: Last stock? Carnival Cruises ticker cc.
Speaker 1: Not a quantum competing.
Speaker 5: S not quantum, not a rocket ship company. The stock
Speaker 5: leading cruise stocks lower. They gave a week third quarter outlook,
Speaker 5: the stock ending the day down about five percent. Again
Speaker 5: that ticker CCL for Carnival.
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