Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Jim STENOVEEC along with Carol Master. Let's take a
Speaker 3: look at some stocks on the move today. Joining us
Speaker 3: now is Bloomberg News Equities reporter Alexandra Semenova. What do
Speaker 3: you see, hey, guys, So I have to start with
Speaker 3: Robin Hood.
Speaker 1: Those shares are down about ten percent right now, so
Speaker 1: really ugly day for the company. This is after they
Speaker 1: reported lower fourth quarter profit and a big part of
Speaker 1: it was the route that we've seen in crypto markets,
Speaker 1: sharp declines in bitcoin and other tokens weighing on results.
Speaker 1: For the online brokerage, net income tumbled thirty four percent
Speaker 1: to six hundred and five million dollars or about sixty
Speaker 1: six cents a share. That was about two cents more
Speaker 1: than the average analyst estimate. Total revenue, however, is the
Speaker 1: figure that missed Wall Street estimates, and revenue from crypto
Speaker 1: trading fell thirty eight percent. Obviously, with bitcoin down about
Speaker 1: fifty percent from its October high, and I know Vlad
Speaker 1: Tenev is going to be on the close later today,
Speaker 1: so we have three testing what he says, by the way, guys,
Speaker 1: Robin Hood is reminding us of the laws of physics
Speaker 1: right now, what goes up must come down. Because to
Speaker 1: Zeke Fox about that, it was one of the hottest
Speaker 1: stocks last year, more than two hundred percent in twenty
Speaker 1: twenty five. It is now down some thirty percent year
Speaker 1: to date, so obviously the bar was really high going
Speaker 1: into these results aside from the crypto route. And also
Speaker 1: something interesting is they spoke extensively about prediction markets. The
Speaker 1: CEO said that we're just at the beginning of a
Speaker 1: prediction market super cycle, so it's got to be interesting
Speaker 1: to say how now business grows.
Speaker 3: I'm glad you mentioned that because I feel like that's
Speaker 3: one area of the of the business, or one area
Speaker 3: that Robin had hads that not every competitor has. Yeah,
Speaker 3: the question there's a lot of questions I think for
Speaker 3: regulators though, about Okay, what does it mean if you're
Speaker 3: doing prediction markets and it's actually sports betting.
Speaker 4: If you're a gambling site, you're going to be like, well,
Speaker 4: wait a minute, we're regulated, you aren't, So I exactly
Speaker 4: I think this one is we got to keep an
Speaker 4: eye on it, but a lot to be determined. Hey,
Speaker 4: let's go to Nike and you're keeping a watch on
Speaker 4: that one.
Speaker 1: I actually was taking a look, guys on Meta Platforms.
Speaker 1: I think that's worth mentioning today because Bill Ackman, his
Speaker 1: Pershing Square, said that they took a sizeable stake in
Speaker 1: the company. Everyone has been talking about how much capex
Speaker 1: is a concern for some of these hyperscalers, specifically Meta,
Speaker 1: but he said that investors are actually underestimating the long
Speaker 1: term potential of these investments. He said that the money
Speaker 1: manager acquired a stake in Meta that amounts to about
Speaker 1: ten percent of its capital at the end of the year.
Speaker 1: So really strong testament of the confidence and metas ai
Speaker 1: endeavors here. And also there was some separate news today
Speaker 1: that Meta will spend more than ten billion dollars on
Speaker 1: a data center campus in Lebanon, Indiana. You guys know,
Speaker 1: of course, they said that they expect to spend as
Speaker 1: much as one hundred and thirty five billion dollars this year.
Speaker 4: Yeah, I think that's interesting. Is this a typical acman bet.
Speaker 1: Not really right, So I think we've really seen him
Speaker 1: invest in some of these big tech companies ten percent.
Speaker 4: That's a big kind of all in, not all in,
Speaker 4: but largely in on the trade. All right, Meta platform,
Speaker 4: forgive us or forgive me for mis quoting that Lululemon.
Speaker 4: What's going on here?
Speaker 1: Yeah, so it is a bonus season and we're talking
Speaker 1: about bonuses at Lululemon, which apparently are going to come
Speaker 1: in below target. We had an amazing report out at
Speaker 1: Bloomberg today. There was audio of the conversation that they
Speaker 1: had internally saying that people won't get the bonuses that
Speaker 1: hopefully they're anticipating. The company's chief people and culture officers
Speaker 1: said that they are tied to global business results, which
Speaker 1: obviously for Lulu Lemon haven't been that great. They've been
Speaker 1: struggling with competition from Alo Yoga, other newcomer, and obviously
Speaker 1: there was that story recently also that they had these
Speaker 1: get low leggings that were see through and they had
Speaker 1: to pull them off the market really quickly. So it's
Speaker 1: performance probably weighing on those bonuses.
Speaker 4: Well.
Speaker 3: The stock was down twenty five percent twenty twenty four.
Speaker 3: It was down forty six percent in twenty twenty five.
Speaker 3: There was recently management shakeup at the top. I don't
Speaker 3: know should this be surprising to people who compensation is.
Speaker 4: It's called a bonus because you hit targets and you
Speaker 4: do well.
Speaker 1: So I mean, company doesn't do well, then you're not
Speaker 1: going to get.
Speaker 4: Pass Wall Street. They know about this right exactly in
Speaker 4: a big way. But it continues to struggle and find
Speaker 4: its way. Good stuff than as always, Thank you, thank you,
Speaker 4: pleasure to join you, always a pleasure to have you.
Speaker 4: Bloomberg News Equities reporter Alexandra Semenova joining us with Stock.
Speaker 2: Movers, the Stock Movers Report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, com, and on Apple CarPlay
Speaker 2: and Android Auto with the Bloomberg Business app. Mm hmm