WEBVTT - Closing Bell: SpaceX Soars, Roku Gains, Space Stocks Decline

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:10.080 --> 0:00:13.520
<v Speaker 2>This is the closing bell on this stock mover's report

0:00:13.760 --> 0:00:16.720
<v Speaker 2>the company's making moves at the close of US trading

0:00:16.880 --> 0:00:21.400
<v Speaker 2>with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greifel.

0:00:22.400 --> 0:00:23.960
<v Speaker 3>So we got to go to the bell of the ball.

0:00:24.040 --> 0:00:30.640
<v Speaker 3>SpaceX today making history largest IPO ever, historic seventy five

0:00:30.640 --> 0:00:33.760
<v Speaker 3>billion dollar IPO dream more than three hundred and fifty

0:00:33.800 --> 0:00:37.239
<v Speaker 3>billion in demand from institutions and retail investors, although not

0:00:37.320 --> 0:00:40.280
<v Speaker 3>everybody got what they wanted in terms of exposure there.

0:00:40.520 --> 0:00:43.240
<v Speaker 3>This according to People Familiar, made elon the first trillionaire.

0:00:43.240 --> 0:00:43.960
<v Speaker 3>Did you look at rich Go.

0:00:44.120 --> 0:00:46.000
<v Speaker 4>Yeah, it hasn't been updated yet. It just pulled it up,

0:00:46.240 --> 0:00:48.240
<v Speaker 4>but he's still a nine hundred and seventy.

0:00:47.960 --> 0:00:51.720
<v Speaker 1>Billion, so equal to seven Warren Buffetts. According to Top Live.

0:00:52.680 --> 0:00:55.840
<v Speaker 3>Nice, there's some perspective for you, right, all right. The

0:00:55.880 --> 0:00:59.040
<v Speaker 3>stock though at its highs today thirty percent to the

0:00:59.080 --> 0:01:01.320
<v Speaker 3>upside at a hundred and seventy six a year, but

0:01:01.480 --> 0:01:03.360
<v Speaker 3>that's not where it closed. It closed with a nineteen

0:01:03.360 --> 0:01:07.199
<v Speaker 3>percent gain stock closing it one sixty one eleven a share,

0:01:07.200 --> 0:01:08.960
<v Speaker 3>so one hundred and sixty one dollars eleven cents a

0:01:09.080 --> 0:01:11.319
<v Speaker 3>share company market cap. I'm just going to quick pull

0:01:11.319 --> 0:01:13.319
<v Speaker 3>it up. I think it stayed above two trillion dollars,

0:01:13.319 --> 0:01:15.959
<v Speaker 3>but that's where we saw it. Yeah, two point one

0:01:16.000 --> 0:01:18.320
<v Speaker 3>trillion at the close here, So it'll be a fun

0:01:18.319 --> 0:01:19.800
<v Speaker 3>one to watch throughout the rest of this year.

0:01:19.880 --> 0:01:21.680
<v Speaker 1>I would also like to point out the stock is

0:01:21.720 --> 0:01:24.040
<v Speaker 1>still going, you know, meaning they're trying to settle all

0:01:24.040 --> 0:01:26.960
<v Speaker 1>these trades here and it's still even here. So obviously

0:01:27.120 --> 0:01:28.600
<v Speaker 1>incremental mods but stale training.

0:01:28.680 --> 0:01:29.920
<v Speaker 3>No, that's a really good point here.

0:01:30.160 --> 0:01:32.160
<v Speaker 4>I can't get don't they know what time things close?

0:01:33.680 --> 0:01:35.760
<v Speaker 1>Money never sleeps, so thering.

0:01:35.520 --> 0:01:39.000
<v Speaker 3>Problems with my gop and gipo functions right now, so

0:01:39.400 --> 0:01:42.319
<v Speaker 3>maybe you just can't keep up. Intel is another gainer

0:01:42.360 --> 0:01:45.040
<v Speaker 3>I wanted to point out, continuing its climb. It gained

0:01:45.080 --> 0:01:47.160
<v Speaker 3>more than nine percent yesterday, another six and a half

0:01:47.200 --> 0:01:50.760
<v Speaker 3>percent to the upside today. It was a top gainer

0:01:50.960 --> 0:01:54.280
<v Speaker 3>in the Nasdaq one hundred and also the S and

0:01:54.320 --> 0:01:56.920
<v Speaker 3>P five hundred. That stock folks up about twenty five

0:01:56.960 --> 0:02:00.080
<v Speaker 3>percent this week alone. We know the news yesterday a

0:02:00.360 --> 0:02:03.360
<v Speaker 3>double upgrade to a buy, but it just continues to

0:02:04.160 --> 0:02:06.400
<v Speaker 3>attract investors in terms of the trade stuck up about

0:02:06.400 --> 0:02:08.040
<v Speaker 3>two hundred and thirty five percent year to date. So

0:02:08.040 --> 0:02:09.560
<v Speaker 3>I just wanted to throw that one in there, and

0:02:09.560 --> 0:02:12.079
<v Speaker 3>then Roku that was a late ad. Thank you very much,

0:02:12.120 --> 0:02:15.600
<v Speaker 3>Finley for throwing that in for me. Stock up about

0:02:15.639 --> 0:02:18.920
<v Speaker 3>twenty percent here at the close, Roku said to be

0:02:18.960 --> 0:02:21.280
<v Speaker 3>in talk to sell itself, with discussions being held that

0:02:21.560 --> 0:02:24.679
<v Speaker 3>with at least one US media company about a potential combination.

0:02:25.280 --> 0:02:28.760
<v Speaker 3>No final decision has been made, and it may ultimately

0:02:28.800 --> 0:02:30.720
<v Speaker 3>not lead to a sale, according to those in the know,

0:02:31.080 --> 0:02:33.200
<v Speaker 3>but nonetheless definitely a standout in today's session.

0:02:33.480 --> 0:02:36.520
<v Speaker 4>Okay, you've got the gainers, I got the decliners. It

0:02:36.600 --> 0:02:39.400
<v Speaker 4>wasn't just SpaceX that moved in today's session.

0:02:40.040 --> 0:02:40.520
<v Speaker 2>A lot of.

0:02:40.520 --> 0:02:43.120
<v Speaker 4>SpaceX stock, A lot of Space stocks, I should say,

0:02:43.760 --> 0:02:46.600
<v Speaker 4>moved lower today. Seven percent of the downside for the

0:02:46.639 --> 0:02:51.959
<v Speaker 4>procure Space ETF. In fact, if you look inside that ETF,

0:02:51.960 --> 0:02:54.679
<v Speaker 4>it's been down really since the beginning of the day.

0:02:54.760 --> 0:02:57.720
<v Speaker 4>Virgin Galactic, which has been on a tarfel thirty two percent,

0:02:57.800 --> 0:03:01.640
<v Speaker 4>Momentous down twenty seven percent, five Fly Aerospace down nineteen percent,

0:03:02.000 --> 0:03:05.040
<v Speaker 4>Ast space Mobile down fifteen and a half percent. Thirty

0:03:05.040 --> 0:03:08.440
<v Speaker 4>four stocks in there were lower, fourteen were higher. So

0:03:08.480 --> 0:03:10.400
<v Speaker 4>the momentum going into this was that a lot of

0:03:10.440 --> 0:03:13.640
<v Speaker 4>these stocks did go up. But the decline in space

0:03:13.680 --> 0:03:16.960
<v Speaker 4>related stock really underscores how speculative the space business remains.

0:03:16.960 --> 0:03:20.880
<v Speaker 4>Some investors shifting attention to SpaceX instead of smaller companies

0:03:20.880 --> 0:03:21.440
<v Speaker 4>in the industry.

0:03:21.480 --> 0:03:22.959
<v Speaker 1>I was actually a little surprised by this. I know,

0:03:23.040 --> 0:03:25.160
<v Speaker 1>it's just one day, and this could obviously change a

0:03:25.200 --> 0:03:26.679
<v Speaker 1>lot over the next few days and weeks, but I

0:03:26.720 --> 0:03:29.560
<v Speaker 1>would think that just with SpaceX arrival, that would actually

0:03:29.600 --> 0:03:30.160
<v Speaker 1>brought Now.

0:03:30.200 --> 0:03:31.880
<v Speaker 4>Well, do you think let's say, let's say you were

0:03:31.880 --> 0:03:34.840
<v Speaker 4>a big believer in space, yeah, and you in the

0:03:34.880 --> 0:03:38.680
<v Speaker 4>future of space, maybe you shifted some of your assets

0:03:38.960 --> 0:03:40.720
<v Speaker 4>from these companies to SpaceX.

0:03:40.800 --> 0:03:42.520
<v Speaker 1>Yeah, that's perhaps a little and some people are going

0:03:42.560 --> 0:03:44.680
<v Speaker 1>to look at SpaceX as the proxy for yeah it

0:03:44.800 --> 0:03:46.800
<v Speaker 1>all and you know, the same way people look at

0:03:46.960 --> 0:03:50.000
<v Speaker 1>video as the proxy for everything in the AI did or.

0:03:50.000 --> 0:03:51.840
<v Speaker 4>Maybe those people wanted to buy a piece of Twitter

0:03:52.240 --> 0:03:54.320
<v Speaker 4>that remember is now the tiny pe you had to

0:03:54.320 --> 0:03:56.080
<v Speaker 4>go there of SpaceX, I had to go there the

0:03:56.120 --> 0:03:58.080
<v Speaker 4>company formerly known as Twitter. Let's go to.

0:03:57.960 --> 0:04:00.280
<v Speaker 1>Today, by the way, speaking of which, not the digrect ahead,

0:04:00.600 --> 0:04:03.560
<v Speaker 1>I reactivated my Instagram account. I haven't posted anything.

0:04:04.000 --> 0:04:05.320
<v Speaker 4>Yeah, okay, yeah.

0:04:05.120 --> 0:04:07.280
<v Speaker 1>I had a beef with Zuckerberg for a while. We

0:04:07.400 --> 0:04:07.920
<v Speaker 1>settled it.

0:04:08.160 --> 0:04:10.480
<v Speaker 4>Do you follow us all on Instagram?

0:04:10.640 --> 0:04:13.640
<v Speaker 1>Or what's the plan? I literally like reactivated in the

0:04:14.680 --> 0:04:16.400
<v Speaker 1>limo ride in to work today.

0:04:16.600 --> 0:04:18.839
<v Speaker 2>All right, But.

0:04:18.720 --> 0:04:20.000
<v Speaker 1>When I'm back in the helicopter on the.

0:04:19.920 --> 0:04:23.360
<v Speaker 4>Way to thank you, let's talk software. I want to

0:04:23.400 --> 0:04:25.400
<v Speaker 4>go to the I Shares Expanded Tech Software ets.

0:04:25.520 --> 0:04:27.400
<v Speaker 1>Is Katie rifle Worth following one? Yeah?

0:04:27.480 --> 0:04:29.719
<v Speaker 4>So I'm very fun. I post a lot of jokes.

0:04:30.160 --> 0:04:32.440
<v Speaker 4>See if she makes the close friends list. That's the question,

0:04:32.680 --> 0:04:35.800
<v Speaker 4>right segue, that's the question. You might not see anything

0:04:35.800 --> 0:04:39.480
<v Speaker 4>from Katie. That ETF l today by about two tenths

0:04:39.520 --> 0:04:42.440
<v Speaker 4>of one percent. This actually extended a recent slump that's

0:04:42.480 --> 0:04:44.800
<v Speaker 4>put the software sector on track for its longest losing

0:04:44.839 --> 0:04:50.200
<v Speaker 4>streak in about two decades, it felt today, and it's

0:04:50.240 --> 0:04:52.799
<v Speaker 4>the stocks ninth straight negative session, its longest such streak

0:04:52.960 --> 0:04:55.400
<v Speaker 4>going back to a nine day drop that ended going

0:04:55.400 --> 0:04:58.240
<v Speaker 4>back to two thousand and six, So pretty substantial here.

0:04:58.360 --> 0:05:01.240
<v Speaker 4>It's a proxy for the software industry, which guys gets

0:05:01.240 --> 0:05:02.520
<v Speaker 4>me to my final decline?

0:05:02.600 --> 0:05:04.720
<v Speaker 1>Can I just point out though, and I know, Adobe

0:05:04.760 --> 0:05:05.800
<v Speaker 1>was obviously the poster child.

0:05:06.040 --> 0:05:06.760
<v Speaker 4>That's where I'm going.

0:05:06.920 --> 0:05:09.159
<v Speaker 1>Oh okay, sorry, oh.

0:05:08.839 --> 0:05:14.120
<v Speaker 4>Okay, Well, Adobe shares took a hit today, Patience. It's okay.

0:05:14.560 --> 0:05:15.280
<v Speaker 2>I know that.

0:05:15.320 --> 0:05:17.280
<v Speaker 1>Editorially, you just send me a memo as to that

0:05:17.279 --> 0:05:18.480
<v Speaker 1>what you're going to talk about literally in.

0:05:18.440 --> 0:05:20.600
<v Speaker 4>The chat, I know, but that everybody has access to you.

0:05:20.600 --> 0:05:22.680
<v Speaker 4>But that's okay. Busy on the company. We covered this

0:05:22.800 --> 0:05:25.200
<v Speaker 4>l yesterday it said it's CFO would depart, leaving a

0:05:25.279 --> 0:05:29.640
<v Speaker 4>leadership vacuum. Following the CEO's announce resignation, shares of Adobe

0:05:29.680 --> 0:05:31.880
<v Speaker 4>today we're down throughout the day today. They end up

0:05:31.880 --> 0:05:34.800
<v Speaker 4>settling lower by about six point eight percent. The quarterly

0:05:34.800 --> 0:05:37.760
<v Speaker 4>results and outlooks are pastoralist expectations, but it really was

0:05:37.800 --> 0:05:40.880
<v Speaker 4>the personnel stuff the CFO announcement that overshadowed the results

0:05:40.880 --> 0:05:42.719
<v Speaker 4>and led to the slide and shares today.

0:05:43.640 --> 0:05:47.640
<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

0:05:47.720 --> 0:05:50.320
<v Speaker 2>us throughout the day for the latest roundup of companies

0:05:50.400 --> 0:05:53.480
<v Speaker 2>making news on Wall Street and for the latest market

0:05:53.520 --> 0:05:58.000
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:05:58.080 --> 0:06:01.120
<v Speaker 2>Bloomberg dot com, and on Apple car Play and Android

0:06:01.120 --> 0:06:03.080
<v Speaker 2>Auto with the Bloomberg Business App

0:06:07.480 --> 0:06:07.800
<v Speaker 3>Mhm