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 Carol Masser along.
Speaker 4: With Tim Stanovich. Let's get to some stocks on the
Speaker 4: move on this Thursday with us as Bloomberg News senior
Speaker 4: reporter and deputy team leader for US Equities Jess Manton.
Speaker 3: And Jess, we are seeing.
Speaker 4: IPOs in another one today it is and.
Speaker 3: It's really hot on this especially.
Speaker 5: We're keeping a lot of our reporters busy with Bailey
Speaker 5: Lipschultz or a key IPO reporter, as well as Georgie
Speaker 5: McKay on equities team. So looking at Figure Technology, the
Speaker 5: ticker is f IGR. So this is the latest tech
Speaker 5: company to benefit from investors newfound appetite like Carol is
Speaker 5: talking about for IPO space. So this company is actually
Speaker 5: a blockchain lender. And if you're looking at what happened
Speaker 5: with today's trades, so it actually began trading on the
Speaker 5: NASDAC under that ticker, and it opened at thirty six dollars.
Speaker 5: While it's pulled back slightly from that, it's currently trading
Speaker 5: around thirty one dollars fifty cents. That's still above word
Speaker 5: IPO at twenty five dollars, so that actually gives it
Speaker 5: a figure around raising around seven hundred and eighty seven
Speaker 5: million here, and it really joins this growing list of unicorns,
Speaker 5: which is really important context when we think about the
Speaker 5: IPO market the last few years, but then looking ahead
Speaker 5: in what it means here, so this buy now, pay later.
Speaker 5: The lending company Klarna actually made its stock debut just yesterday,
Speaker 5: so it rose nearly fifteen percent from its IPO price.
Speaker 5: Then you also have other stable coin providers like Circle
Speaker 5: earlier this year, as well as design software platform Figma,
Speaker 5: So you'd really have a lot of momentum going right
Speaker 5: now as far as what's going on in that type
Speaker 5: of space, and particularly in the crypto area as well.
Speaker 1: Yeah, Gem and I the winkle Y crypto exchange. Then
Speaker 1: outside of crypto, even more IPOs on the horizon, Blackrock
Speaker 1: Coffee legions, and then via the rideshare app. Yes, we
Speaker 1: expected ipo too.
Speaker 3: So we have a busy few week this week as well.
Speaker 5: And then of course, actually if you put in context
Speaker 5: for this week, this is the busiest week for IPOs
Speaker 5: since arm in twenty twenty three, So we have stub
Speaker 5: Hub actually coming next week, so that's the ticket resale company.
Speaker 3: Unbelievable.
Speaker 4: But you know you've got to market that's hitting records, right,
Speaker 4: So if you want to introduce a new issue, this
Speaker 4: is probably.
Speaker 3: The market to do. To the economy too.
Speaker 2: Yeah.
Speaker 3: Yeah. Senteen is another one that you're watching. Yeah, that's moving.
Speaker 3: The ticker is CNC, so this is a health insurance.
Speaker 5: Was the top performer in the S and P five
Speaker 5: hundred earlier day if you were looking at the MLV function.
Speaker 5: Now it's in the top three, behind Synopsis and Warner Brothers.
Speaker 5: But actually reaffirmed its annual earnings outlook that it actually
Speaker 5: had already issued in July.
Speaker 3: So it did reaffirm that.
Speaker 5: It also gave partisitive views on Medicare star ratings and
Speaker 5: said it expects cost improvements in its medicaid business. If
Speaker 5: you look at some of its peers like Molina Healthcare MOHS,
Speaker 5: the ticker on that up six percent. Also, Elevant's Health
Speaker 5: is up two point six percent as well, so you're
Speaker 5: seeing its peers moving. But I want to put in
Speaker 5: context if you at year to date through yesterday's close,
Speaker 5: for centeen, its stock had dropped nearly fifty percent this year,
Speaker 5: so still has a long way to go. If you
Speaker 5: look on the cell side, the A and R function
Speaker 5: of the terminal five buys fifteen holds one cell. Barclay's
Speaker 5: strategist Andrew Mock he actually is an equal weight rating
Speaker 5: on the stock. He was talking about how that Medicare
Speaker 5: update was better than feared, with the company seeing medical
Speaker 5: cost improvement in the.
Speaker 3: Second half of the year.
Speaker 5: So you're seeing some bright spots there, but still really
Speaker 5: tough year when you were looking at where that year
Speaker 5: to date performance was before today's.
Speaker 1: Games, Okay, well, not a tough year for Oracle. I
Speaker 1: know this is a big one. Yesterday it was, and
Speaker 1: today maybe giving up some of those games.
Speaker 5: Our CL's the ticker down a little over six percent
Speaker 5: right now, so on pace for its worst day since
Speaker 5: April fourth, from earlier this year. So you were just
Speaker 5: alluding to tim the massive run that we saw in
Speaker 5: this stock yesterday, so it had really historic rally. It
Speaker 5: actually was up thirty six percent on Wednesday, so that
Speaker 5: was its best day since nineteen ninety two. So the
Speaker 5: context there, it had reported this stellar cloud demand numbers
Speaker 5: and then The Wall Street Journal on top of that,
Speaker 5: yesterday also had reported that Oracle had struck a three
Speaker 5: hundred billion dollar deal with open Ai. But if you're
Speaker 5: looking today, actually GP Morgan, the Drivets decks, they actually
Speaker 5: had been crunching numbers on the retail investors side of things.
Speaker 5: So you actually saw retail investors selling aggressively into Oracles
Speaker 5: rally yesterday after buying those shares on Monday and Tuesday,
Speaker 5: So you have a bit of a retail story there.
Speaker 5: And then of course, if you look beyond that, as
Speaker 5: well as some of the other peers that were outperforming
Speaker 5: yesterday too. Broadcom AVGOS the ticker symbol, that stock's also
Speaker 5: down more than two percent today.
Speaker 3: That had been among some of the big gainers yesterday.
Speaker 5: And then of course I have to point out Vistra
Speaker 5: vst is down more than two percent as well. That's
Speaker 5: tied to the data centers that had been jumping yesterday,
Speaker 5: as well as AMD Advanced micro Devices. But both of
Speaker 5: those stocks are also lower on the back of this,
Speaker 5: after a lot of them had a tremendous run yesterday.
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