WEBVTT - Blue Owl Drops; Grail Sinks; Opendoor Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data

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<v Speaker 2>waits to take a look.

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<v Speaker 3>At some of those stocks on the move today, Alexis Christophers,

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<v Speaker 3>what are you looking at today?

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<v Speaker 4>Looking at Blue Owl and I've actually been looking at

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<v Speaker 4>it all week. It's sort of a poster child for

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<v Speaker 4>the private credit markets. So it's down four percent here

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<v Speaker 4>in the pre market, but even before that, Blue Owl

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<v Speaker 4>was down about eight percent for the week. It's got

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<v Speaker 4>a ticker symbol OWL. Okay, So Blue Owl has failed

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<v Speaker 4>to secure financing for a four billion dollar data center

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<v Speaker 4>project that it's co developing in Pennsylvania with core Weave.

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<v Speaker 4>But that's just, you know, just part of the story here.

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<v Speaker 4>It also sold one point four billion dollars of loan

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<v Speaker 4>assets in three of its private debt funds and is

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<v Speaker 4>now barring investors in Blue Owl Capital two from redeeming

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<v Speaker 4>their investments in quarterly intervals. So this is, you know,

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<v Speaker 4>sort of a flag if you would, for private credit.

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<v Speaker 4>I mean, we also saw Apollo Management and Blackstone their

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<v Speaker 4>stocks got hit this week, and so pimco's Muhammad Alarians

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<v Speaker 4>saying this could be a canary in the coal mine,

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<v Speaker 4>sort of reminiscent of what we saw with the subprime

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<v Speaker 4>mortgage melt down back in two thousand and seven, sort

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<v Speaker 4>of the risks that confront retail investors in the private

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<v Speaker 4>credit market. Overvaluation is the quality of lending, and so

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<v Speaker 4>it looks like Blue Owl is getting caught up in

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<v Speaker 4>all of that.

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<v Speaker 5>You know, I just did a fancy log chart of Owl,

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<v Speaker 5>and to be kind, it's an elegant chart. South it's got.

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<v Speaker 1>Some real problems.

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<v Speaker 5>Out of an exponential movie. It was to be exact

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<v Speaker 5>for Wall Street eleven point five eight now at eleven

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<v Speaker 5>point one two, which.

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<v Speaker 1>Is just substantial, fairly new.

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<v Speaker 4>I mean, it's about a decade old Blue Owl. But

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<v Speaker 4>it has not been an easy ride.

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<v Speaker 1>For sure.

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<v Speaker 5>You've been called you've been a genius.

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<v Speaker 1>Well it's tough.

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<v Speaker 3>You know, there's credit issues everywhere, So I don't care

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<v Speaker 3>where it's sits an Apple structure.

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<v Speaker 5>Let's put private credit in four oh one ks?

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<v Speaker 1>Are you kidding me? Next?

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<v Speaker 4>Scary stuff? All right, here's a company. It might not

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<v Speaker 4>be familiar with it. It's called Grail. It's a healthcare

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<v Speaker 4>company with a market cap of about four billion. It

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<v Speaker 4>is absolutely getting crushed. The stock has been halved here

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<v Speaker 4>in the pre market. It is down about fifty percent

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<v Speaker 4>right now. The company said it's multi cancer blood test

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<v Speaker 4>failed to meet its primary endpoint of reducing late stage

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<v Speaker 4>cancer's grail g r ail like the Holy grail h Yes,

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<v Speaker 4>ticker symbol there g r a L. So it has

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<v Speaker 4>been tough going for this company. And they were also

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<v Speaker 4>out with earnings today that actually came in a little

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<v Speaker 4>bit better than lowered estimates. But what's really tripping them

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<v Speaker 4>up is you know what's happening with this multi cancer

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<v Speaker 4>blood test? So one more yeah? Oh al so wait,

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<v Speaker 4>by the way, you do.

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<v Speaker 1>Deer from yesterday?

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<v Speaker 4>They want me to do deer? You really do?

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<v Speaker 1>You got what else?

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<v Speaker 5>So have?

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<v Speaker 1>I got?

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<v Speaker 4>Open Door Technologies. These are companies but don't talk about

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<v Speaker 4>all the time. The ticker there pe N shares are

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<v Speaker 4>up sixteen percent. This is an online marketplace for residential

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<v Speaker 4>real estate. Reported revenue for the fourth quarter that beat estimates.

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<v Speaker 4>And I think you're starting to see also Bloomberg Intelligence

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<v Speaker 4>knows that open Doors platform turnaround is helping to boost

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<v Speaker 4>growth there. But you're starting to see that turnaround in

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<v Speaker 4>the housing market. I don't know if we can call

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<v Speaker 4>it a buyer's market just yet, but inventory is loosening

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<v Speaker 4>up a little bit. We saw mortgage rates now falling,

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<v Speaker 4>and so companies like open Door Technologies, this online marketplace

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<v Speaker 4>for real estate, especially residential, you know, cashing in on.

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<v Speaker 1>That spring selling season two.

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<v Speaker 5>Learn it.

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<v Speaker 1>Yeah, absolutely, from thirty to one. Oops, check that thirty

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<v Speaker 1>to two, and then it exploded up to ten and

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<v Speaker 1>it's come half way back. It's like it's almost MEMI. Yeah,

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<v Speaker 1>it's all out of the place.

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<v Speaker 4>You got time for one more often. Back of My

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<v Speaker 4>Technology is down eleven percent. Software company weaker than expected

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<v Speaker 4>earnings for both the first quarter and the fully.

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<v Speaker 3>Here was the IPO pitch for Akamai in nineteen ninety nine.

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<v Speaker 3>I was sitting in a room, Morgan Stanley, you want

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<v Speaker 3>to own the Internet.

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<v Speaker 1>You don't know how. Here's your stock.

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<v Speaker 3>This is the this is the guts, this is the

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<v Speaker 3>plumbing of the Internet. That was it, and people are like, fine,

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<v Speaker 3>I'm in.

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