Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock movers report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostick, and Scarlet Food.
Speaker 3: Definitely feels bullish, right, Romaine. But if you look at
Speaker 3: the S and P. Five hundred, you actually had more
Speaker 3: names in the index lower in today's session, two hundred
Speaker 3: and eighty four to the downside, Katie two hundred and
Speaker 3: eighteen gaining ground one unchanged.
Speaker 4: Well, it's a similar story when you take a look
Speaker 4: at the circle and the sectors, because you had more
Speaker 4: sectors in the red than you did in the green.
Speaker 4: You can see that right now that tech was a
Speaker 4: big contributor there to the upside. Healthcare also having a
Speaker 4: great day, Utilities getting in on the action. But then
Speaker 4: you take a look at what didn't do to hot
Speaker 4: communications services, financials, Materials your big loser on the day,
Speaker 4: but up overall for the benchmark.
Speaker 3: Okay, what was really hot was Lithium America. Guys man,
Speaker 3: this one was up about twenty three percent, shares rallying
Speaker 3: after US Secretary of Energy Chris On Bloomberg television, saying
Speaker 3: that the government.
Speaker 5: Us right where.
Speaker 2: It was.
Speaker 6: Did you see the bioline? Did you guys see the boat.
Speaker 5: It was hiking news right.
Speaker 6: I thought that would be enough.
Speaker 5: Let's do it.
Speaker 6: I thought that would be enough to get Carol not
Speaker 6: to do this story today.
Speaker 5: Bury the lead, you bury the biol one.
Speaker 3: But you know, well, it's nice to see you get one,
Speaker 3: all right. Anyway, the US Energy Secretary yes, talking to
Speaker 3: Katie and remains, saying that the US government agreed acquire
Speaker 3: a five percent stake in the company. So well done,
Speaker 3: well done. Just one week ago, you might remember, is
Speaker 3: when the story started floating around, and that's when you
Speaker 3: saw that share price in this name jump almost one
Speaker 3: hundred percent. It's up about one hundred and thirty percent
Speaker 3: in the last week. All right, I'm going to jump over.
Speaker 3: Did you talk to the Nike CEO today.
Speaker 5: By the jit, No, that wasn't us. Actually, well, there's
Speaker 5: always tomorrow, all right.
Speaker 3: So Nike up about six and a quarter percent in
Speaker 3: today's session. We broke down a purs something I love competition.
Speaker 3: Their earnings coming out yesterday after the close, Nike reported
Speaker 3: first quarter revenue that beat the average analyst estimates. A
Speaker 3: sign it's focus around specific sports such as running in
Speaker 3: basketball is starting to pay off.
Speaker 5: They're also working back with retailers.
Speaker 3: We talked to our Pudam Goyle about this and that
Speaker 3: is a good thing for the company. I was going on, Yeah,
Speaker 3: I love her, She's like incredible.
Speaker 5: Pfizer.
Speaker 3: We talked about drug makers man on a tear, the
Speaker 3: group finishing up about five percent overall. Pfizer certainly a
Speaker 3: beneficiary of the move up.
Speaker 5: This is coming.
Speaker 3: We know that Wall Street had long feared that policies
Speaker 3: were going to come out of the Trump administration that
Speaker 3: would impose aggressive drug pricing policies, but those fears largely
Speaker 3: lay to rest after Pfizer cut that deal with the
Speaker 3: White House. But we're also hearing it's going to play
Speaker 3: out to other drug makers. And as I mentioned, we
Speaker 3: did just see on the Bloomberg Crossing about a half
Speaker 3: an hour or so ago from Politico that the President
Speaker 3: is said to be delaying pharma tariffs to negotiate those
Speaker 3: drug prices, coming from a White House official. And then
Speaker 3: you mentioned good Rx, which was on another network, and
Speaker 3: that one. I'm sorry, Finley, I don't have I didn't
Speaker 3: tell you about this one. But it was up about
Speaker 3: nineteen percent in today's session. One more name, I'm just
Speaker 3: going to throw in there is this five or six
Speaker 3: I lost count ast space mobile.
Speaker 5: I just want to point it out on a tear.
Speaker 5: You're going to care. We're going to actually be talking
Speaker 5: to the President tomorrow.
Speaker 3: Up sixteen percent, announcing that yesterday about success with them
Speaker 3: their satellites. They are deploying satellites, could be a competitor
Speaker 3: to someday maybe to SpaceX. Barkley's raising its price target
Speaker 3: to sixty from thirty seven. They are upbeat on the company.
Speaker 3: So anyway, catch our interview with the president tomorrow. Cheap teas,
Speaker 3: but I will I will tune into that.
Speaker 6: You should, all right, we'll tune into these decliners.
Speaker 5: Please.
Speaker 6: The worst performer in the S and P five hundred
Speaker 6: today Corteva, down nine point one percent. The company fell
Speaker 6: after it announced plans to separate into two independent companies,
Speaker 6: and it looks like they're failed, failing to convince investors
Speaker 6: it's going to deliver any value. This separation is expected
Speaker 6: to be completed in the second half of next year.
Speaker 6: Investors are worried that the separation creates more volatility for
Speaker 6: the pesticide business, with shares falling today by nine point
Speaker 6: one percent. CAW Main Foods. They do eggs, and they
Speaker 6: are down one point two percent today. This after the
Speaker 6: company posted first quarter profit in sales that disappointed. It
Speaker 6: turns out we're just buying fancier eggs.
Speaker 5: Did you hear this? No?
Speaker 7: Go on?
Speaker 6: Consumers are looking for fancier egg varieties, cage free, pasture raised,
Speaker 6: and organic. They're considered more sustainable. There's a quirk though,
Speaker 6: with egg pricing and long term contracts, so sometimes specialty
Speaker 6: varieties can actually be cheaper than conventional ones.
Speaker 5: They are interesting. I just buy egg whites in a box.
Speaker 1: I got a guy in Brooklin, and they're cheaper than
Speaker 1: in stores.
Speaker 6: Is it pasture, backyard raised Brooklyn eggs?
Speaker 7: I don't know.
Speaker 1: He just shows up in a van and out the
Speaker 1: side of the park.
Speaker 5: Soon we just get more and more interesting eggs.
Speaker 6: The eggs are falling off the truck.
Speaker 1: He says, they're all free range.
Speaker 6: Hey, let's finish on. Peloton down three point seven percent today,
Speaker 6: this after the company raised prices on hardware and membership
Speaker 6: fees and a product overhaul, new versions of the bike
Speaker 6: and the tread with a silver screen swivel screen. Excuse me.
Speaker 6: Price increases include an average month around eleven percent for
Speaker 6: hardware and nineteen percent for subscription fees. Mark Herman said,
Speaker 6: investors concern that maybe you could see some churn with
Speaker 6: these price increases when it comes to those membership prices.
Speaker 1: All right, let's take a quick look and yield. We
Speaker 1: actually did see a lot of buying activity, primarily lad
Speaker 1: on the shorter end of the curve that push yields
Speaker 1: lower across the curve. Seven basis points on the two
Speaker 1: year yield, about five basis points on your ten year yield.
Speaker 1: And we should point out if you run the WORP
Speaker 1: function on your Bloomberg terminal, you will see now that
Speaker 1: the conviction for further rate cuts this year is now
Speaker 1: a near certainty. The market pricing in at least one
Speaker 1: cut as an almost certainty at the end of October
Speaker 1: when that next meeting happens, and another one almost certainty
Speaker 1: when the Fed meets for its last meeting on December tenth.
Speaker 3: Super interesting narrative in the market certainly today. Hey, in
Speaker 3: terms of interesting stories that caught our attention, you know,
Speaker 3: we talk about celebrity endorsements and what that can do
Speaker 3: for our product. Well, Serena Williams, she has done an
Speaker 3: ad campaign with Roe and as a result, it is
Speaker 3: definitely yes spark demand for the company's weight loss program.
Speaker 6: Yeah, the company CEO, So the company has seen an
Speaker 6: elevated and consistent ability for William's story to resonate and
Speaker 6: drive traffic. Since this ad aired in August, consumers should
Speaker 6: expect to see more from Roe and Williams, which have
Speaker 6: a multi year partnership, after the campaign led to a
Speaker 6: spike in web traffic and an influx of new customers.
Speaker 6: I always wonder how much are these celebrities paid for
Speaker 6: partnerships like this.
Speaker 1: Well, maybe the question is how much has she invested
Speaker 1: in it? And of course we know of course Alex
Speaker 1: o'hanian's a connection to Row as well. But I mean,
Speaker 1: it just sort of seem reminiscent of what we saw
Speaker 1: some years back when Oprah teamed up with Weight Watchers.
Speaker 1: You lost saw that weight and then revealed that she
Speaker 1: was on the board and actual investor was obviously a
Speaker 1: public stock, but you saw just how much people gravitated
Speaker 1: to that company and to that stock. And I know
Speaker 1: Row wasn't publicly traded, but you wonder if you'll see
Speaker 1: a similar type of activity.
Speaker 7: Yeah.
Speaker 4: Absolutely, I will say I see their ads all over
Speaker 4: the path stations. Charles Barkley, I think is also signed.
Speaker 6: Up there those ads going to still be allowed with
Speaker 6: the new restrictions coming from the from Health and Human Services.
Speaker 6: That's the question I have.
Speaker 4: It's a big question and I don't have the answer,
Speaker 4: but I do want to talk quickly about Amazon here.
Speaker 4: I thought this was interesting, Amazon launching this food brand,
Speaker 4: Amazon Grocery.
Speaker 5: Amazon. I know that we only care.
Speaker 4: About Cloud when it comes to the stock, but they
Speaker 4: have been pushing so hard into food. They have that
Speaker 4: partnership with when Dixie. They also have been expanding their
Speaker 4: food delivery, and now they have a private label food brand.
Speaker 4: So there you go, Amazon taking over.
Speaker 1: Can tell you I find this confusing because I feel
Speaker 1: like Amazon has sort of gone down this road. I'm
Speaker 1: talking specifically about their food and grocery strikes.
Speaker 6: You're not the only and there's just so.
Speaker 1: Many brands and so many divisions. I remember sometimes you
Speaker 1: try to order something on Amazon that's food related, but
Speaker 1: you have to do it through Fresh or you can
Speaker 1: only do it through this, and that's I mean, come on,
Speaker 1: guys just put it all.
Speaker 4: Together well, and they're combining Amazon Fresh and Happy Belly
Speaker 4: into one. Question.
Speaker 6: You're not the only one who's confused. We we do
Speaker 6: order our groceries on Amazon. We use the Bold Foods.
Speaker 5: I got some advice for him.
Speaker 6: So if you open the app and you actually click,
Speaker 6: there are four different places you can order from in
Speaker 6: the app.
Speaker 5: Yeah.
Speaker 1: I know.
Speaker 6: Yeah, So I think you're not the only one who's confused.
Speaker 1: I just give up.
Speaker 5: You guys are cranky, man.
Speaker 1: You know this is why I get my eggs from
Speaker 1: a guy on the street's confused.
Speaker 5: Exactly. Bring on the farmers' markets too, all right.
Speaker 7: Guys, that's a wrappit the Stock Mover's Report from Bloomberg Radio.
Speaker 7: Check back with us throughout the day for the latest
Speaker 7: roundup of companies making news on Wall Street and for
Speaker 7: the latest market moving headlines. Listen to Bloomberg Radio Live,
Speaker 7: catch us on YouTube, Bloomberg dot com, and on Applecarplay
Speaker 7: and Droid Auto with the Bloomberg Business app.
Speaker 5: Mm HM