Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Winding down
Speaker 1: earning season, but a lot of names to get to.
Speaker 1: Starting with open Door. Pretty big bid on this stock
Speaker 1: after earning Stan Good morning, Good.
Speaker 3: Morning, Nathan. That's right open Door ticker Ope, and those
Speaker 3: shares are up nearly twenty percent in pre market right now.
Speaker 3: That's us the online real estate marketplace show signs of
Speaker 3: a turnaround. It's fourth quarter sales were above estimates, the
Speaker 3: loss was smaller than estimates, so investors really piling that
Speaker 3: into that this morning. Just to take a step back
Speaker 3: and look at the stock in the context of the
Speaker 3: longer term perspective, those the shares, they're trading at five
Speaker 3: point fifty this morning, five dollars and fifty cents this morning.
Speaker 3: There are thirty five dollars a share five years ago.
Speaker 3: So this is a comeback story. This twenty percent pop
Speaker 3: is after a ninety percent draw down. So when I
Speaker 3: talk about turnaround. We are talking about a turnaround. So
Speaker 3: analysts coming away saying the signs of the turnaround are
Speaker 3: taking hold, and the company has been using technology to
Speaker 3: implement that. Companies highlighting that used to take eleven people
Speaker 3: to close a contract on a home that can now
Speaker 3: be down to one. And in the last week of
Speaker 3: the year, the company's signed more than five hundred acquisition contracts.
Speaker 3: That's double the rate of the previous quarter. Why this matters,
Speaker 3: the company is not immune to the five to ten
Speaker 3: percent national home price declines. So the faster the company
Speaker 3: can move houses, the less balance sheet risks they have,
Speaker 3: and also the more money they can make on flip
Speaker 3: in the houses. So Open Door technology good signs in
Speaker 3: the morning up eighteen percent.
Speaker 1: Right now, we got a flip side this morning from Neumont.
Speaker 1: You'd think their earnings would have looked better given what
Speaker 1: we've seen in the gold market lately.
Speaker 3: Yeah, it's really funny. It's kind of the side of
Speaker 3: the other coin. Right, So housing prices have been down,
Speaker 3: but Open Doors doing well. Newmont gold prices have been up,
Speaker 3: but the company itself isn't doing well.
Speaker 2: Well.
Speaker 3: If you don't know, it's the world's biggest gold miner.
Speaker 3: It is the fourth quarter top and bottom lines were
Speaker 3: greater than estimates, so that is off the back of
Speaker 3: that strong gold. But those shares are now down three
Speaker 3: percent in pre market, and that's because Newmont says that
Speaker 3: output this year will fall ten percent, which is about
Speaker 3: five point three million ounces of gold this year, so
Speaker 3: it's not going to be able to capitalize on those
Speaker 3: high gold prices as much. The output drop is because
Speaker 3: of planned upgrades at some mines and lower productions at
Speaker 3: two Minds jointly owned with Barrack casting a level of
Speaker 3: shade at Barrack. They're not super happy about that production down.
Speaker 3: That said, fourth quarter was strong and generated record earnings
Speaker 3: and free cash flow for the period.
Speaker 1: Moving from mining to drilling, disappointing results as well for Transocean.
Speaker 3: That's right tick our rig Rag. Transocean shares are down
Speaker 3: three percent in the pre market as the offshore oil
Speaker 3: drilling specialist did it beat fourth quarter revenue, but operating
Speaker 3: costs were higher than expected and push earnings per share
Speaker 3: below what analysts were expecting, so that's weighing on the
Speaker 3: shares of the morning. The first quarter guidance of a
Speaker 3: billion dollars in revenue was greater than estimates. It also
Speaker 3: indicates that top line for the whole year will be strong,
Speaker 3: but we're still awaiting some details. This company reported in
Speaker 3: the evening for their conference call is at nine o'clock
Speaker 3: this morning New York Times, so definitely wanted to keep
Speaker 3: an eye on throughout the trading day.
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