WEBVTT - Tesla Climbs, Mosaic Falls, BuzzFeed Soars Afterhours

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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 3>All right, back with us to take a look at

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<v Speaker 3>some of the stocks on the move. I'm Carol Masser

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<v Speaker 3>along with Tim Stenwick. Let's get to stocks on the move.

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<v Speaker 3>Bloomberg News Equities reporter Alex Sevanova back here in studio.

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<v Speaker 3>You want to talk about Tesla. What's going on with Tesla?

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<v Speaker 1>Yeah, so Tesla rallied into the close up three point

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<v Speaker 1>nine percent today. This is after Elon Musk got an

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<v Speaker 1>invite from the White House to join a trip to China.

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<v Speaker 1>He is going to be alongside executives from Apple, from

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<v Speaker 1>Goldman Sachs, from Boeing. And this is really a sign

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<v Speaker 1>that the relationship between President Trump and Elon Musk has

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<v Speaker 1>been repaired since last year. They obviously had a pretty

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<v Speaker 1>nasty fallout if you guys were.

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<v Speaker 3>Perhaps black us.

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<v Speaker 1>Thank yeah, thanks got a little bess. There was apparently

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<v Speaker 1>some fighting.

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<v Speaker 4>Yeah. You know what's so interesting is that Tesla has

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<v Speaker 4>a really notable history in China. They were the first

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<v Speaker 4>company and I think still the only company that were

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<v Speaker 4>able to build a factory without doing a joint venture traditionally.

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<v Speaker 3>Yep.

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<v Speaker 4>If you're an American automaker and you want to you know,

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<v Speaker 4>you want to do sell cars in China, you got

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<v Speaker 4>to team up with a company on the ground in

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<v Speaker 4>China to actually do that. Elon somehow pulled off. Yeah,

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<v Speaker 4>doing this without any you know, any fast.

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<v Speaker 3>Yes, I did it fast, which is unheard of.

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<v Speaker 1>So you're right, sense to have him there during these discussions.

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<v Speaker 3>Agreed, Agreed, Mosaic. Let's talk about this fertilizer, right.

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<v Speaker 1>Yeah, I've been learning a lot about fertilizer lately. It

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<v Speaker 1>has been going up in price given the Iran war,

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<v Speaker 1>and so this is a fertilizer producer. You would think

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<v Speaker 1>that given the increase in prices, you would get a

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<v Speaker 1>nice bump in revenue for the company, but actually all

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<v Speaker 1>of the bottlenecks from the closure of the Strait of

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<v Speaker 1>Horror moves have hurt. The company reported today a three

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<v Speaker 1>hundred and seventy three million dollar operating loss, also reporting

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<v Speaker 1>adjusted earnings for sure that came in well below analyst estimates.

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<v Speaker 1>This is because of surge and costs from other materials

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<v Speaker 1>like sulfur ammonia and sulfuric asset that kind of offset

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<v Speaker 1>some of the potential gains that could have gotten from

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<v Speaker 1>the higher fertilizer.

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<v Speaker 4>Okay, and very briefly Barrick Mining.

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<v Speaker 1>Yeah, so this company is going to issue a big

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<v Speaker 1>share buyback. It pledged to repurchase as much as three

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<v Speaker 1>billion dollars worth of shares before it spins off its

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<v Speaker 1>North American assets for an IPO. This also comes after

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<v Speaker 1>a historic run in goals, so that helps a lot.

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<v Speaker 1>Shares were up nine percent today. Td cowan analyst, said

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<v Speaker 1>that the new authorized three billion dollar buy back gives

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<v Speaker 1>incremental support ahead of its planned IPO in North America.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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<v Speaker 2>the Bloomberg Business app. Mm hmm