WEBVTT - SpaceX Slides and AMC Tumbles

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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 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Tom Keen with Paul Sweeney and Bloomberg's Nathan Hager

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<v Speaker 1>with our stock Movers this morning, with SpaceX ticker SPCX. Tom,

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<v Speaker 1>we've been keeping an eye on it since the IPO,

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<v Speaker 1>and we continue to do so this morning. Right now,

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<v Speaker 1>the shares are lower by almost two percent, but it's

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<v Speaker 1>kind of been swinging between gains and losses after shedding

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<v Speaker 1>three straight days of declines more than six hundred billion

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<v Speaker 1>dollars in market value for Elon Musk's Rocket AI company.

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<v Speaker 1>The sixteen percent drop for SpaceX yesterday was second only

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<v Speaker 1>to Nvidia as the biggest one day drop for a

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<v Speaker 1>single stock on record. But of course, all this is

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<v Speaker 1>coming as investors are waiting for SpaceX to kick off

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<v Speaker 1>its first investment grade bond sale. We've been talking about

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<v Speaker 1>this for the last several days. A source tells us

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<v Speaker 1>this morning it's going to come in five parts, and

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<v Speaker 1>we've already reported that SpaceX is hoping to raise at

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<v Speaker 1>least twenty billion dollars from this offering, an unusual move

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<v Speaker 1>for an investment grade market that's used to lending to

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<v Speaker 1>established companies that make things like cars or sell life insurance.

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<v Speaker 1>SpaceX has yet to turn a profit, people will expect, Yeah,

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<v Speaker 1>it's going to keep burning cash through twenty twenty nine,

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<v Speaker 1>according to SMPK. Well, but there's actually a great story

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<v Speaker 1>on Bloomberg as well this morning that the SPACEXIPO is

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<v Speaker 1>raising hope for investors in Elon Musk's other publicly traded company,

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<v Speaker 1>that the endgame maybe a merger between SpaceX and Tesla.

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<v Speaker 1>Tesla shares, by the way, down about two and a

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<v Speaker 1>half percent pre market. You got another, Yeah, I got IBM.

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<v Speaker 1>We've been talking about the tech led selloff all morning long,

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<v Speaker 1>but IBM shares are bucking that trend.

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<v Speaker 2>Right now.

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<v Speaker 1>They are higher by more than four four percent. Stock

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<v Speaker 1>got an upgrade from neutral to overweight over at JP

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<v Speaker 1>Morgan and a fifteen percent boost to that shop's price target.

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<v Speaker 1>It's now at two hundred ninety one dollars a share

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<v Speaker 1>Right now, IBM's around two sixty two, still below the

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<v Speaker 1>average of analysts tracked by Bloomberg, but JP Morgan analysts

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<v Speaker 1>say the upgrade reflects better confidence in software acceleration ahead.

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<v Speaker 1>On top of that, Big Blue also announced it's joined

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<v Speaker 1>the Open AI Daybreak cyber Partner program. It says the

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<v Speaker 1>pact is going to bring advanced AI capabilities into security

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<v Speaker 1>operations to help enterprises counter machine speed threats. End quote.

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<v Speaker 1>Just yesterday, President Trump praised IBM and it's CEO Arvin

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<v Speaker 1>Krishna for boosting US chip production. He joked to reporters

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<v Speaker 1>about selling IBM stock at a lower price before he

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<v Speaker 1>returned to office. Oh. Also, Morgan Stanley also raised its

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<v Speaker 1>price target on IBM from two twenty five to two

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<v Speaker 1>sixty seven.

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<v Speaker 2>So there's that as well. Okay, get one more quick one. Yeah.

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<v Speaker 1>AMC Entertainment apparently you announce a direct share sale and

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<v Speaker 1>the stock tanks. Right now AMC shares are sinking by

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<v Speaker 1>more than twenty four percent. Yeah. The theater chain announced

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<v Speaker 1>the direct offering of ninety five and a quarter million

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<v Speaker 1>shares priced at around two hundred million dollars.

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<v Speaker 2>Do the math.

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<v Speaker 1>That's about two ten apiece. Right now, AMC is trading

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<v Speaker 1>at two nine. Bloomberg Intelligence is suggesting close to fifteen

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<v Speaker 1>percent dilution for common stockholders in American multi cinema.

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<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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