WEBVTT - Opendoor Technologies Rises; Newmont Slips; Transocean Misses Estimates

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

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

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<v Speaker 2>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 Nathan Hager, joined by Bloomberg's Dan Curtis. Winding down

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<v Speaker 1>earning season, but a lot of names to get to.

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<v Speaker 1>Starting with open Door. Pretty big bid on this stock

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<v Speaker 1>after earning Stan Good morning, Good.

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<v Speaker 3>Morning, Nathan. That's right open Door ticker Ope, and those

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<v Speaker 3>shares are up nearly twenty percent in pre market right now.

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<v Speaker 3>That's us the online real estate marketplace show signs of

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<v Speaker 3>a turnaround. It's fourth quarter sales were above estimates, the

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<v Speaker 3>loss was smaller than estimates, so investors really piling that

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<v Speaker 3>into that this morning. Just to take a step back

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<v Speaker 3>and look at the stock in the context of the

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<v Speaker 3>longer term perspective, those the shares, they're trading at five

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<v Speaker 3>point fifty this morning, five dollars and fifty cents this morning.

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<v Speaker 3>There are thirty five dollars a share five years ago.

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<v Speaker 3>So this is a comeback story. This twenty percent pop

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<v Speaker 3>is after a ninety percent draw down. So when I

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<v Speaker 3>talk about turnaround. We are talking about a turnaround. So

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<v Speaker 3>analysts coming away saying the signs of the turnaround are

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<v Speaker 3>taking hold, and the company has been using technology to

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<v Speaker 3>implement that. Companies highlighting that used to take eleven people

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<v Speaker 3>to close a contract on a home that can now

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<v Speaker 3>be down to one. And in the last week of

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<v Speaker 3>the year, the company's signed more than five hundred acquisition contracts.

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<v Speaker 3>That's double the rate of the previous quarter. Why this matters,

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<v Speaker 3>the company is not immune to the five to ten

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<v Speaker 3>percent national home price declines. So the faster the company

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<v Speaker 3>can move houses, the less balance sheet risks they have,

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<v Speaker 3>and also the more money they can make on flip

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<v Speaker 3>in the houses. So Open Door technology good signs in

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<v Speaker 3>the morning up eighteen percent.

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<v Speaker 1>Right now, we got a flip side this morning from Neumont.

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<v Speaker 1>You'd think their earnings would have looked better given what

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<v Speaker 1>we've seen in the gold market lately.

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<v Speaker 3>Yeah, it's really funny. It's kind of the side of

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<v Speaker 3>the other coin. Right, So housing prices have been down,

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<v Speaker 3>but Open Doors doing well. Newmont gold prices have been up,

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<v Speaker 3>but the company itself isn't doing well.

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<v Speaker 2>Well.

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<v Speaker 3>If you don't know, it's the world's biggest gold miner.

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<v Speaker 3>It is the fourth quarter top and bottom lines were

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<v Speaker 3>greater than estimates, so that is off the back of

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<v Speaker 3>that strong gold. But those shares are now down three

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<v Speaker 3>percent in pre market, and that's because Newmont says that

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<v Speaker 3>output this year will fall ten percent, which is about

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<v Speaker 3>five point three million ounces of gold this year, so

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<v Speaker 3>it's not going to be able to capitalize on those

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<v Speaker 3>high gold prices as much. The output drop is because

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<v Speaker 3>of planned upgrades at some mines and lower productions at

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<v Speaker 3>two Minds jointly owned with Barrack casting a level of

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<v Speaker 3>shade at Barrack. They're not super happy about that production down.

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<v Speaker 3>That said, fourth quarter was strong and generated record earnings

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<v Speaker 3>and free cash flow for the period.

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<v Speaker 1>Moving from mining to drilling, disappointing results as well for Transocean.

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<v Speaker 3>That's right tick our rig Rag. Transocean shares are down

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<v Speaker 3>three percent in the pre market as the offshore oil

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<v Speaker 3>drilling specialist did it beat fourth quarter revenue, but operating

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<v Speaker 3>costs were higher than expected and push earnings per share

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<v Speaker 3>below what analysts were expecting, so that's weighing on the

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<v Speaker 3>shares of the morning. The first quarter guidance of a

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<v Speaker 3>billion dollars in revenue was greater than estimates. It also

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<v Speaker 3>indicates that top line for the whole year will be strong,

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<v Speaker 3>but we're still awaiting some details. This company reported in

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<v Speaker 3>the evening for their conference call is at nine o'clock

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<v Speaker 3>this morning New York Times, so definitely wanted to keep

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<v Speaker 3>an eye on throughout the trading day.

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