Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: We are here and we want to take a look
Speaker 3: at some of the stocks that were on the move
Speaker 3: this past week in our Stock Movers podcast, and we
Speaker 3: got to talk about Coinbase. It was up about twenty
Speaker 3: seven percent this week, looking at for the week overall,
Speaker 3: the number one gainer in the S and P as
Speaker 3: a result, and I'm just looking at there was a
Speaker 3: lot of data throughout the week for this one. We
Speaker 3: did get some headlines on Friday about Coinbase being cleared
Speaker 3: to offer crypto products across all EU states, So that
Speaker 3: basically enables the company to offer full suite of products
Speaker 3: to all twenty seven EU member states. So we're talking
Speaker 3: about four hundred and fifty million people across the EU,
Speaker 3: so that was a big deal. We also saw earlier
Speaker 3: in the week Coinbase introducing Coinbase payments for commerce platforms.
Speaker 3: So there's a lot going on in this space, especially
Speaker 3: when it comes to the regulatory environment, and we're seeing it,
Speaker 3: you know, kind of a regulatory framework being worked out,
Speaker 3: and so Coinbase certainly seen as someone, as you know,
Speaker 3: to benefit in a big way, and we certainly saw
Speaker 3: that play out in the share price this week.
Speaker 1: Not the only mover in the crypto industry to the
Speaker 1: upside this week. You also were watching everything that happened
Speaker 1: with Circle Carol.
Speaker 3: Circle Internet Group up eighty percent this past week, folks,
Speaker 3: big mover to the up side. It's up about six
Speaker 3: hundred and seventy five percent since it's IPO on June fifth,
Speaker 3: So we have seen this one just explode to the upside.
Speaker 3: It's the company behind USDC, the second largest stable coin
Speaker 3: by market share. It shares gaining in the Friday trade
Speaker 3: as well, So we just saw momentum throughout the week.
Speaker 3: Catalysts Today or on Friday, I should say, Seaport Global
Speaker 3: gave the stable coin issue it's first by rating the
Speaker 3: week of the US Senate's move this week to pass
Speaker 3: some regulatory legislation, right, So this is certainly something that
Speaker 3: is seen as an upside catalyst. Legislation setting up regulatory
Speaker 3: rules for cryptocurrencies peg to the dollars. So there's a
Speaker 3: lot of momentum. I feel like in this space.
Speaker 1: How is it that you always have the stocks that
Speaker 1: did well.
Speaker 3: I don't know you as a gainers my sunny disposition.
Speaker 1: Okay, your sunny disposition.
Speaker 2: Where you going?
Speaker 1: I'm going to the other side of things. The worst
Speaker 1: performers in the S and P five hundred this week
Speaker 1: we're solar companies en Phase Energy, First Solar, in Phase.
Speaker 1: The ticker for en Phase Energy is e NPH First Solar.
Speaker 1: Just pulling it up here is FSLR. First Solar fell
Speaker 1: by seventeen point two percent. En Phase Energy fell by
Speaker 1: twenty one point four percent. Shares of US solar companies
Speaker 1: fell sharply this week. This was after we learned that
Speaker 1: Center Republicans released this bill that would essentially end clean
Speaker 1: energy tax credits earlier than expected. What that did was
Speaker 1: it dashed hopes that major cuts passed by the House
Speaker 1: would not stick. You had other companies move lower this week.
Speaker 1: Sun Run, which is the largest US rooftop panel installer,
Speaker 1: plunged this week, the most ever in interra date trading.
Speaker 1: Solar edge technologies fell as well, and in Phase Energy
Speaker 1: the worst performer in the S and P five hundred,
Speaker 1: down by twenty one point four percent. Get another one
Speaker 1: for US, I got another one. Accenture. This is an
Speaker 1: interesting one because this is a IT consulting firm. Huge
Speaker 1: global company. Shares fell this week, not the worst performer
Speaker 1: in the S ANDP, but still among the worst performer
Speaker 1: I'd say, top five worst performing stock this week, down
Speaker 1: eight point five percent. The company reported results that highlighted
Speaker 1: bookings as a weak spot of the print. The company
Speaker 1: CEO said, accentsrire quote continues to see a significantly elevated
Speaker 1: level of uncertainty in the global economic and geopolitical environment
Speaker 1: as compared to calendar year twenty twenty four. Bloomberg Intelligence
Speaker 1: came out and said that the seven percent bookings decline
Speaker 1: lower headcounts suggest soft discretionary IT spending demand. There were
Speaker 1: a lot of questions about the effect on government cuts,
Speaker 1: especially here in the US. Interestingly enough, the company said
Speaker 1: that quote federal business had an immaterial impact on its
Speaker 1: overall growth in the quarter, So it wasn't a federal
Speaker 1: it was boo bookings moving forward. Got it is the
Speaker 1: concern that analysts have not necessarily federal cuts. It's not
Speaker 1: like Boozelan, which has such a big, such big exposure
Speaker 1: to the US government.
Speaker 3: So Accentri for the week overall.
Speaker 1: Eccentri for the week overall, ticker ACN down eight point
Speaker 1: four to five percent for.
Speaker 2: The week overall.
Speaker 3: Hey, I just want to go back to coin base
Speaker 3: Global because I didn't want to eat up all the time.
Speaker 3: But there was so much stuff on this name. As
Speaker 3: I mentioned, it was up about twenty seven percent this week.
Speaker 3: I forgot to mention it in'ct a deal to have
Speaker 3: the world's second biggest stable coin USAC is just collateral
Speaker 3: in US futures trading.
Speaker 1: So there's a handshake between Circle Internet and Coinbase.
Speaker 3: See, this is why we have the crypto dude in house.
Speaker 3: And the other thing. The other story this was I
Speaker 3: think on June seventeenth, the i JP Morgan Chase launching
Speaker 3: a pilot for token called JPMD which represents dollar deposits
Speaker 3: and we'll transfer a fixed amount to coin based Global
Speaker 3: on the public black blockchain base. So there's just so
Speaker 3: much stuff this past week. I highly recommend you head
Speaker 3: to the Bloomberger Bloomberg dot com to check it out.
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