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 2: waits to take a look.
Speaker 3: At some of those stocks on the move today, Alexis Christophers,
Speaker 3: what are you looking at today?
Speaker 4: Looking at Blue Owl and I've actually been looking at
Speaker 4: it all week. It's sort of a poster child for
Speaker 4: the private credit markets. So it's down four percent here
Speaker 4: in the pre market, but even before that, Blue Owl
Speaker 4: was down about eight percent for the week. It's got
Speaker 4: a ticker symbol OWL. Okay, So Blue Owl has failed
Speaker 4: to secure financing for a four billion dollar data center
Speaker 4: project that it's co developing in Pennsylvania with core Weave.
Speaker 4: But that's just, you know, just part of the story here.
Speaker 4: It also sold one point four billion dollars of loan
Speaker 4: assets in three of its private debt funds and is
Speaker 4: now barring investors in Blue Owl Capital two from redeeming
Speaker 4: their investments in quarterly intervals. So this is, you know,
Speaker 4: sort of a flag if you would, for private credit.
Speaker 4: I mean, we also saw Apollo Management and Blackstone their
Speaker 4: stocks got hit this week, and so pimco's Muhammad Alarians
Speaker 4: saying this could be a canary in the coal mine,
Speaker 4: sort of reminiscent of what we saw with the subprime
Speaker 4: mortgage melt down back in two thousand and seven, sort
Speaker 4: of the risks that confront retail investors in the private
Speaker 4: credit market. Overvaluation is the quality of lending, and so
Speaker 4: it looks like Blue Owl is getting caught up in
Speaker 4: all of that.
Speaker 5: You know, I just did a fancy log chart of Owl,
Speaker 5: and to be kind, it's an elegant chart. South it's got.
Speaker 1: Some real problems.
Speaker 5: Out of an exponential movie. It was to be exact
Speaker 5: for Wall Street eleven point five eight now at eleven
Speaker 5: point one two, which.
Speaker 1: Is just substantial, fairly new.
Speaker 4: I mean, it's about a decade old Blue Owl. But
Speaker 4: it has not been an easy ride.
Speaker 1: For sure.
Speaker 5: You've been called you've been a genius.
Speaker 1: Well it's tough.
Speaker 3: You know, there's credit issues everywhere, So I don't care
Speaker 3: where it's sits an Apple structure.
Speaker 5: Let's put private credit in four oh one ks?
Speaker 1: Are you kidding me? Next?
Speaker 4: Scary stuff? All right, here's a company. It might not
Speaker 4: be familiar with it. It's called Grail. It's a healthcare
Speaker 4: company with a market cap of about four billion. It
Speaker 4: is absolutely getting crushed. The stock has been halved here
Speaker 4: in the pre market. It is down about fifty percent
Speaker 4: right now. The company said it's multi cancer blood test
Speaker 4: failed to meet its primary endpoint of reducing late stage
Speaker 4: cancer's grail g r ail like the Holy grail h Yes,
Speaker 4: ticker symbol there g r a L. So it has
Speaker 4: been tough going for this company. And they were also
Speaker 4: out with earnings today that actually came in a little
Speaker 4: bit better than lowered estimates. But what's really tripping them
Speaker 4: up is you know what's happening with this multi cancer
Speaker 4: blood test? So one more yeah? Oh al so wait,
Speaker 4: by the way, you do.
Speaker 1: Deer from yesterday?
Speaker 4: They want me to do deer? You really do?
Speaker 1: You got what else?
Speaker 5: So have?
Speaker 1: I got?
Speaker 4: Open Door Technologies. These are companies but don't talk about
Speaker 4: all the time. The ticker there pe N shares are
Speaker 4: up sixteen percent. This is an online marketplace for residential
Speaker 4: real estate. Reported revenue for the fourth quarter that beat estimates.
Speaker 4: And I think you're starting to see also Bloomberg Intelligence
Speaker 4: knows that open Doors platform turnaround is helping to boost
Speaker 4: growth there. But you're starting to see that turnaround in
Speaker 4: the housing market. I don't know if we can call
Speaker 4: it a buyer's market just yet, but inventory is loosening
Speaker 4: up a little bit. We saw mortgage rates now falling,
Speaker 4: and so companies like open Door Technologies, this online marketplace
Speaker 4: for real estate, especially residential, you know, cashing in on.
Speaker 1: That spring selling season two.
Speaker 5: Learn it.
Speaker 1: Yeah, absolutely, from thirty to one. Oops, check that thirty
Speaker 1: to two, and then it exploded up to ten and
Speaker 1: it's come half way back. It's like it's almost MEMI. Yeah,
Speaker 1: it's all out of the place.
Speaker 4: You got time for one more often. Back of My
Speaker 4: Technology is down eleven percent. Software company weaker than expected
Speaker 4: earnings for both the first quarter and the fully.
Speaker 3: Here was the IPO pitch for Akamai in nineteen ninety nine.
Speaker 3: I was sitting in a room, Morgan Stanley, you want
Speaker 3: to own the Internet.
Speaker 1: You don't know how. Here's your stock.
Speaker 3: This is the this is the guts, this is the
Speaker 3: plumbing of the Internet. That was it, and people are like, fine,
Speaker 3: I'm in.
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