WEBVTT - Closing Bell: CoreWeave Climbs, Pfizer Gains, Spotify Falls on Leadership Change

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

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<v Speaker 2>This is the closing bell on this stock movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenobeck, Romain Bostick, and Scarlet Fool.

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<v Speaker 3>All right, S and P five hundred on this final

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<v Speaker 3>trading day of September and final trading day of the

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<v Speaker 3>third quarter, you got three hundred and one names, Katie

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<v Speaker 3>to the upside, two hundred and one to the downside.

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<v Speaker 3>If I look Katie at the third quarter app Lovin,

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<v Speaker 3>you're best performer. And then you've got I think fact

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<v Speaker 3>set at the bottom of the pack.

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<v Speaker 4>Yeah, all right, there, there you have it. Let's take

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<v Speaker 4>a look at the circle of sectors right now. I

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<v Speaker 4>can see there's a lot of green here. Big tech

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<v Speaker 4>really doing a lot of heavy lifting. So too did healthcare.

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<v Speaker 4>On the day we know that Pfizer agreeing to lower

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<v Speaker 4>drug prices in exchange for some relief on tariffs. That

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<v Speaker 4>is boosting the entire sector. In terms of what isn't

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<v Speaker 4>doing so well right now, energy, consumer, discretionary, communication services,

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<v Speaker 4>some of your downward weights on the index, but overall

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<v Speaker 4>green on the screen.

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<v Speaker 3>All right, So Let's get to some of the individual

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<v Speaker 3>gainers if I may, and let's go to Core Weave guys,

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<v Speaker 3>because this one up sixteen and a half percent at

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<v Speaker 3>its highs today, finishing the day with a gain of

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<v Speaker 3>just shy of twelve percent. You know, one of the

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<v Speaker 3>neo clouds businesses that rent out access to leading AI chips.

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<v Speaker 3>While the stock rallying after the company signed a deal

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<v Speaker 3>to supply meta platforms with as much as fourteen point

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<v Speaker 3>two billion dollars worth of computing power. It runs through

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<v Speaker 3>December twenty thirty first, with an option to extend through

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<v Speaker 3>twenty thirty two. So talk about some visibility with additional

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<v Speaker 3>capacity and what's really key about this and we talked

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<v Speaker 3>to our Ed Ludlow about this is why you saw

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<v Speaker 3>really the stock rally is that it kind of diversifies

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<v Speaker 3>business away at Core Weave, away from Microsoft, so expands

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<v Speaker 3>who its top customers are. So this is why potentially

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<v Speaker 3>you saw this one rally, particularly in today's session. Again,

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<v Speaker 3>keep in mind at IPO this year, it's up about

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<v Speaker 3>two hundred and seventy three percent year to date. About

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<v Speaker 3>ten percent of the float is short, but definitely one

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<v Speaker 3>of the outperformers. Here so far in twenty twenty five.

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<v Speaker 3>All right, Pfizer got to talk about the pharmaceuticals hire today,

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<v Speaker 3>many of the names top in the S and P

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<v Speaker 3>five hundred. In fact, Pfizer is your number one gainer

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<v Speaker 3>in the S ANDP with that seven percent gain. We

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<v Speaker 3>did have President Trump speaking earlier at the White House

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<v Speaker 3>saying Pfizer's agreed to offer countless prescription medications at major

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<v Speaker 3>discounts in the US as a result of the Most

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<v Speaker 3>Favored Nation Drug Pricing Order. We did also see the

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<v Speaker 3>Peiser CEO at the White House. Pfizer will get a

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<v Speaker 3>three year grace period from President Trump's pharmata. So a

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<v Speaker 3>lot going on in implications for the pharmaceutical sector, including Pfizer.

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<v Speaker 3>And then just because I like French fries, I'm going

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<v Speaker 3>to do land weston. The stock up almost nine percent

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<v Speaker 3>at its highes today, finishing with a gain of more

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<v Speaker 3>than four percent here. This after the company reported to

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<v Speaker 3>just a earnings per share and net sales for the

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<v Speaker 3>first quarter that beat CONCESSUS estimates due to improved restaurant

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<v Speaker 3>foot traffic. Apparently, chicken fast food restaurants in particular saw

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<v Speaker 3>more visitors.

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<v Speaker 1>Excuse me, you're everywhere now, you know, the French was

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<v Speaker 1>no like these raising gains and all these chicken plates

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<v Speaker 1>like they were never anywhere, and now they're everywhere. I know,

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<v Speaker 1>I can't get rid of them with French fries. Do

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<v Speaker 1>you see Wendy's has new Tendy's. Oh Tendy's, Uh pick up?

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<v Speaker 5>Okay, I thought you guys were I didn't want to.

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<v Speaker 5>I didn't want to jump in.

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<v Speaker 2>I don't go down it.

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<v Speaker 1>Let's go.

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<v Speaker 5>Let's do decliners here. I want to talk about Spotify

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<v Speaker 5>shares falling four point two percent, this after the company

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<v Speaker 5>said that CEO Daniel Ek is transitioning his role to chairman,

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<v Speaker 5>leaving his leadership in hand in the hands of co

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<v Speaker 5>CEOs Gustav Soderstrom and Alex Nordstrom. Ek will continue to

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<v Speaker 5>provide support and guidance, and soda Strum and Nordstrum will

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<v Speaker 5>jointly take the reins of the company effective January first.

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<v Speaker 5>I mean it makes sense, but I was surprised. Twenty

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<v Speaker 5>years ago pretty much. Two thousand and six is when

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<v Speaker 5>he started Spotify, so he's only forty two years old,

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<v Speaker 5>but he's been at the helm of this for nineteen years.

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<v Speaker 5>He'll still be very involved in the company, he said,

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<v Speaker 5>I'll remain deeply involved in the big defining decisions about

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<v Speaker 5>our future. Still shareholder sending shares lower today four point

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<v Speaker 5>two percent. Also, shares of companies that do sports betting,

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<v Speaker 5>such as DraftKings falling today. DraftKings down eleven point six

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<v Speaker 5>percent after robin had posted September to date trading metrics

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<v Speaker 5>late yesterday that showed contracts traded for about one hundred

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<v Speaker 5>and eighty seven million. Robinhood has emerged as a competitive

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<v Speaker 5>sports betting platforms like DraftKings and FanDuel as betters are

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<v Speaker 5>allowed to trade contracts on the outcomes of sporting events

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<v Speaker 5>through Robinhood, so increase competition for those pure play sports

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<v Speaker 5>betting apps. And finally, some late breaking movers Zillo and

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<v Speaker 5>Rocket Companies. I want to focus on Rocket Companies. It's

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<v Speaker 5>the parent company of Redfin Rocket Companies falling today close

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<v Speaker 5>to four percent three point eight percent down. The FTC

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<v Speaker 5>sued to block a partnership between Zillo and Rocket Companies,

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<v Speaker 5>saying that it would reduce the number of websites offering

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<v Speaker 5>apartment listings and drive up advertising prices. This partnership was

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<v Speaker 5>announced back in February. It involved an upfront payment of

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<v Speaker 5>one hundred million dollars from Zillo to red Finn to

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<v Speaker 5>help Zillo enter into advertising agreements with property managers that

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<v Speaker 5>post listings on Redfin's sites. The FTC said the arrangement

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<v Speaker 5>combines two of the three largest internet listing service and

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<v Speaker 5>it's seeking a divestiture of Zillo's asset. Zillo fell, by

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<v Speaker 5>the way by four point three percent as well.

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<v Speaker 1>Yeah, absolutely, and I just want to point out to

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<v Speaker 1>an honorable mention, keep an eye on some of those

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<v Speaker 1>consumer finance stocks, a big drop in Capital One and

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<v Speaker 1>some of the other credit card companies. Meanwhile, in the

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<v Speaker 1>yield space, a relatively quiet end to the month, but

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<v Speaker 1>we should point out that overall he did see actually

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<v Speaker 1>a drop in yields over the course of the month,

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<v Speaker 1>and actually on a price basis here you actually had

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<v Speaker 1>some pretty decent returns when it comes to not only

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<v Speaker 1>the treasury market, but of course the corporate fixed income

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<v Speaker 1>space as well.

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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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<v Speaker 2>making news on Wall Street and for the latest market

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<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube,

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