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 3: All right, back with us to take a look at
Speaker 3: some of the stocks on the move. I'm Carol Masser
Speaker 3: along with Tim Stenwick. Let's get to stocks on the move.
Speaker 3: Bloomberg News Equities reporter Alex Sevanova back here in studio.
Speaker 3: You want to talk about Tesla. What's going on with Tesla?
Speaker 1: Yeah, so Tesla rallied into the close up three point
Speaker 1: nine percent today. This is after Elon Musk got an
Speaker 1: invite from the White House to join a trip to China.
Speaker 1: He is going to be alongside executives from Apple, from
Speaker 1: Goldman Sachs, from Boeing. And this is really a sign
Speaker 1: that the relationship between President Trump and Elon Musk has
Speaker 1: been repaired since last year. They obviously had a pretty
Speaker 1: nasty fallout if you guys were.
Speaker 3: Perhaps black us.
Speaker 1: Thank yeah, thanks got a little bess. There was apparently
Speaker 1: some fighting.
Speaker 4: Yeah. You know what's so interesting is that Tesla has
Speaker 4: a really notable history in China. They were the first
Speaker 4: company and I think still the only company that were
Speaker 4: able to build a factory without doing a joint venture traditionally.
Speaker 3: Yep.
Speaker 4: If you're an American automaker and you want to you know,
Speaker 4: you want to do sell cars in China, you got
Speaker 4: to team up with a company on the ground in
Speaker 4: China to actually do that. Elon somehow pulled off. Yeah,
Speaker 4: doing this without any you know, any fast.
Speaker 3: Yes, I did it fast, which is unheard of.
Speaker 1: So you're right, sense to have him there during these discussions.
Speaker 3: Agreed, Agreed, Mosaic. Let's talk about this fertilizer, right.
Speaker 1: Yeah, I've been learning a lot about fertilizer lately. It
Speaker 1: has been going up in price given the Iran war,
Speaker 1: and so this is a fertilizer producer. You would think
Speaker 1: that given the increase in prices, you would get a
Speaker 1: nice bump in revenue for the company, but actually all
Speaker 1: of the bottlenecks from the closure of the Strait of
Speaker 1: Horror moves have hurt. The company reported today a three
Speaker 1: hundred and seventy three million dollar operating loss, also reporting
Speaker 1: adjusted earnings for sure that came in well below analyst estimates.
Speaker 1: This is because of surge and costs from other materials
Speaker 1: like sulfur ammonia and sulfuric asset that kind of offset
Speaker 1: some of the potential gains that could have gotten from
Speaker 1: the higher fertilizer.
Speaker 4: Okay, and very briefly Barrick Mining.
Speaker 1: Yeah, so this company is going to issue a big
Speaker 1: share buyback. It pledged to repurchase as much as three
Speaker 1: billion dollars worth of shares before it spins off its
Speaker 1: North American assets for an IPO. This also comes after
Speaker 1: a historic run in goals, so that helps a lot.
Speaker 1: Shares were up nine percent today. Td cowan analyst, said
Speaker 1: that the new authorized three billion dollar buy back gives
Speaker 1: incremental support ahead of its planned IPO in North America.
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