1 00:00:02,520 --> 00:00:07,360 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 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data 4 00:00:16,720 --> 00:00:17,600 Speaker 2: waits to take a look. 5 00:00:17,440 --> 00:00:21,040 Speaker 3: At some of those stocks on the move today, Alexis Christophers, 6 00:00:21,079 --> 00:00:21,880 Speaker 3: what are you looking at today? 7 00:00:22,040 --> 00:00:24,200 Speaker 4: Looking at Blue Owl and I've actually been looking at 8 00:00:24,239 --> 00:00:26,079 Speaker 4: it all week. It's sort of a poster child for 9 00:00:26,120 --> 00:00:29,320 Speaker 4: the private credit markets. So it's down four percent here 10 00:00:29,360 --> 00:00:31,920 Speaker 4: in the pre market, but even before that, Blue Owl 11 00:00:32,040 --> 00:00:34,199 Speaker 4: was down about eight percent for the week. It's got 12 00:00:34,200 --> 00:00:39,159 Speaker 4: a ticker symbol OWL. Okay, So Blue Owl has failed 13 00:00:39,200 --> 00:00:42,640 Speaker 4: to secure financing for a four billion dollar data center 14 00:00:42,680 --> 00:00:45,480 Speaker 4: project that it's co developing in Pennsylvania with core Weave. 15 00:00:45,760 --> 00:00:48,800 Speaker 4: But that's just, you know, just part of the story here. 16 00:00:49,120 --> 00:00:51,960 Speaker 4: It also sold one point four billion dollars of loan 17 00:00:52,000 --> 00:00:55,200 Speaker 4: assets in three of its private debt funds and is 18 00:00:55,240 --> 00:00:59,959 Speaker 4: now barring investors in Blue Owl Capital two from redeeming 19 00:01:00,080 --> 00:01:03,320 Speaker 4: their investments in quarterly intervals. So this is, you know, 20 00:01:03,400 --> 00:01:07,280 Speaker 4: sort of a flag if you would, for private credit. 21 00:01:07,319 --> 00:01:09,959 Speaker 4: I mean, we also saw Apollo Management and Blackstone their 22 00:01:10,000 --> 00:01:14,640 Speaker 4: stocks got hit this week, and so pimco's Muhammad Alarians 23 00:01:14,640 --> 00:01:16,600 Speaker 4: saying this could be a canary in the coal mine, 24 00:01:16,920 --> 00:01:19,160 Speaker 4: sort of reminiscent of what we saw with the subprime 25 00:01:19,160 --> 00:01:21,440 Speaker 4: mortgage melt down back in two thousand and seven, sort 26 00:01:21,440 --> 00:01:24,280 Speaker 4: of the risks that confront retail investors in the private 27 00:01:24,280 --> 00:01:27,800 Speaker 4: credit market. Overvaluation is the quality of lending, and so 28 00:01:27,840 --> 00:01:29,440 Speaker 4: it looks like Blue Owl is getting caught up in 29 00:01:29,480 --> 00:01:29,800 Speaker 4: all of that. 30 00:01:30,000 --> 00:01:33,200 Speaker 5: You know, I just did a fancy log chart of Owl, 31 00:01:33,360 --> 00:01:37,920 Speaker 5: and to be kind, it's an elegant chart. South it's got. 32 00:01:37,760 --> 00:01:39,080 Speaker 1: Some real problems. 33 00:01:39,520 --> 00:01:42,200 Speaker 5: Out of an exponential movie. It was to be exact 34 00:01:42,240 --> 00:01:45,920 Speaker 5: for Wall Street eleven point five eight now at eleven 35 00:01:46,000 --> 00:01:48,240 Speaker 5: point one two, which. 36 00:01:48,040 --> 00:01:49,440 Speaker 1: Is just substantial, fairly new. 37 00:01:49,440 --> 00:01:51,400 Speaker 4: I mean, it's about a decade old Blue Owl. But 38 00:01:51,520 --> 00:01:52,960 Speaker 4: it has not been an easy ride. 39 00:01:52,960 --> 00:01:53,320 Speaker 1: For sure. 40 00:01:53,640 --> 00:01:55,400 Speaker 5: You've been called you've been a genius. 41 00:01:55,600 --> 00:01:56,200 Speaker 1: Well it's tough. 42 00:01:56,320 --> 00:01:58,960 Speaker 3: You know, there's credit issues everywhere, So I don't care 43 00:01:58,760 --> 00:02:00,440 Speaker 3: where it's sits an Apple structure. 44 00:02:00,560 --> 00:02:02,960 Speaker 5: Let's put private credit in four oh one ks? 45 00:02:03,080 --> 00:02:04,880 Speaker 1: Are you kidding me? Next? 46 00:02:04,960 --> 00:02:07,160 Speaker 4: Scary stuff? All right, here's a company. It might not 47 00:02:07,200 --> 00:02:10,079 Speaker 4: be familiar with it. It's called Grail. It's a healthcare 48 00:02:10,160 --> 00:02:12,480 Speaker 4: company with a market cap of about four billion. It 49 00:02:12,520 --> 00:02:15,519 Speaker 4: is absolutely getting crushed. The stock has been halved here 50 00:02:15,560 --> 00:02:17,760 Speaker 4: in the pre market. It is down about fifty percent 51 00:02:17,880 --> 00:02:21,160 Speaker 4: right now. The company said it's multi cancer blood test 52 00:02:21,600 --> 00:02:26,000 Speaker 4: failed to meet its primary endpoint of reducing late stage 53 00:02:26,000 --> 00:02:30,320 Speaker 4: cancer's grail g r ail like the Holy grail h Yes, 54 00:02:30,800 --> 00:02:34,560 Speaker 4: ticker symbol there g r a L. So it has 55 00:02:34,600 --> 00:02:36,920 Speaker 4: been tough going for this company. And they were also 56 00:02:36,960 --> 00:02:39,280 Speaker 4: out with earnings today that actually came in a little 57 00:02:39,320 --> 00:02:42,359 Speaker 4: bit better than lowered estimates. But what's really tripping them 58 00:02:42,400 --> 00:02:45,239 Speaker 4: up is you know what's happening with this multi cancer 59 00:02:45,280 --> 00:02:48,959 Speaker 4: blood test? So one more yeah? Oh al so wait, 60 00:02:49,000 --> 00:02:49,799 Speaker 4: by the way, you do. 61 00:02:49,800 --> 00:02:51,880 Speaker 1: Deer from yesterday? 62 00:02:51,760 --> 00:02:53,720 Speaker 4: They want me to do deer? You really do? 63 00:02:53,800 --> 00:02:55,120 Speaker 1: You got what else? 64 00:02:55,120 --> 00:02:55,280 Speaker 5: So have? 65 00:02:55,360 --> 00:02:55,600 Speaker 1: I got? 66 00:02:55,639 --> 00:02:58,440 Speaker 4: Open Door Technologies. These are companies but don't talk about 67 00:02:58,440 --> 00:03:01,840 Speaker 4: all the time. The ticker there pe N shares are 68 00:03:01,919 --> 00:03:05,799 Speaker 4: up sixteen percent. This is an online marketplace for residential 69 00:03:05,840 --> 00:03:10,560 Speaker 4: real estate. Reported revenue for the fourth quarter that beat estimates. 70 00:03:10,600 --> 00:03:14,120 Speaker 4: And I think you're starting to see also Bloomberg Intelligence 71 00:03:14,120 --> 00:03:17,760 Speaker 4: knows that open Doors platform turnaround is helping to boost 72 00:03:17,840 --> 00:03:19,880 Speaker 4: growth there. But you're starting to see that turnaround in 73 00:03:19,960 --> 00:03:21,680 Speaker 4: the housing market. I don't know if we can call 74 00:03:21,720 --> 00:03:25,320 Speaker 4: it a buyer's market just yet, but inventory is loosening 75 00:03:25,400 --> 00:03:27,520 Speaker 4: up a little bit. We saw mortgage rates now falling, 76 00:03:28,080 --> 00:03:31,440 Speaker 4: and so companies like open Door Technologies, this online marketplace 77 00:03:31,480 --> 00:03:34,920 Speaker 4: for real estate, especially residential, you know, cashing in on. 78 00:03:34,880 --> 00:03:36,120 Speaker 1: That spring selling season two. 79 00:03:36,760 --> 00:03:37,040 Speaker 5: Learn it. 80 00:03:37,120 --> 00:03:42,720 Speaker 1: Yeah, absolutely, from thirty to one. Oops, check that thirty 81 00:03:42,760 --> 00:03:46,360 Speaker 1: to two, and then it exploded up to ten and 82 00:03:46,360 --> 00:03:51,280 Speaker 1: it's come half way back. It's like it's almost MEMI. Yeah, 83 00:03:51,320 --> 00:03:52,360 Speaker 1: it's all out of the place. 84 00:03:53,120 --> 00:03:55,400 Speaker 4: You got time for one more often. Back of My 85 00:03:55,520 --> 00:03:59,960 Speaker 4: Technology is down eleven percent. Software company weaker than expected 86 00:04:00,080 --> 00:04:01,920 Speaker 4: earnings for both the first quarter and the fully. 87 00:04:02,000 --> 00:04:04,960 Speaker 3: Here was the IPO pitch for Akamai in nineteen ninety nine. 88 00:04:04,960 --> 00:04:07,760 Speaker 3: I was sitting in a room, Morgan Stanley, you want 89 00:04:07,760 --> 00:04:08,640 Speaker 3: to own the Internet. 90 00:04:08,720 --> 00:04:10,560 Speaker 1: You don't know how. Here's your stock. 91 00:04:10,720 --> 00:04:12,600 Speaker 3: This is the this is the guts, this is the 92 00:04:12,600 --> 00:04:15,760 Speaker 3: plumbing of the Internet. That was it, and people are like, fine, 93 00:04:15,800 --> 00:04:16,320 Speaker 3: I'm in. 94 00:04:17,360 --> 00:04:21,400 Speaker 2: The stock movers report from Bloomberg Radio. 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