1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, the. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,480 --> 00:00:18,600 Speaker 1: I'm Carol Masser along with Tim Stanek. So let's get 5 00:00:18,600 --> 00:00:20,279 Speaker 1: to some stacks on the move today with us as 6 00:00:20,320 --> 00:00:24,079 Speaker 1: Bloomberg News process at reporter Emily GRIFFEYO with Stock Movers, and. 7 00:00:24,079 --> 00:00:25,720 Speaker 3: You got a bunch of as you're looking at, I do, 8 00:00:25,760 --> 00:00:28,960 Speaker 3: and I have some superlatives to share, Marcy, guys, because 9 00:00:29,400 --> 00:00:32,840 Speaker 3: Goldman Sachs ticker GS is currently at a record high 10 00:00:33,000 --> 00:00:35,360 Speaker 3: right now in the shares is up about four point 11 00:00:35,400 --> 00:00:37,680 Speaker 3: five percent, and this is after one of the biggest 12 00:00:37,840 --> 00:00:39,400 Speaker 3: US banks reporting earnings. 13 00:00:39,640 --> 00:00:44,040 Speaker 4: They blew through expectations for equities trading revenue, so their 14 00:00:44,200 --> 00:00:46,800 Speaker 4: record four point three to one billion in the final 15 00:00:46,800 --> 00:00:49,199 Speaker 4: three months of the year wasn't just a Goldman Sachs 16 00:00:49,240 --> 00:00:52,040 Speaker 4: record for equity trading revenue, but also an all time 17 00:00:52,520 --> 00:00:57,440 Speaker 4: Wall Street one. They also beat on FIC in like earnings, 18 00:00:57,480 --> 00:01:01,880 Speaker 4: which is fixed income, Currencies and commodities sales and trading revenue. 19 00:01:02,360 --> 00:01:06,000 Speaker 4: That department doing well, but the investment banking division also 20 00:01:07,000 --> 00:01:10,400 Speaker 4: doing well. The bank said that it's deals backlog. Was 21 00:01:10,400 --> 00:01:13,920 Speaker 4: that a four year high? Of course, one thing that 22 00:01:13,959 --> 00:01:15,880 Speaker 4: a lot of bankers expect for twenty twenty six. 23 00:01:15,880 --> 00:01:18,640 Speaker 1: I mean, Golminade is known for its investment banking right right, 24 00:01:18,800 --> 00:01:22,119 Speaker 1: So it sounds like super busy and look like they 25 00:01:22,280 --> 00:01:24,160 Speaker 1: should be super busy potentially this year. 26 00:01:24,280 --> 00:01:28,520 Speaker 4: Yes, and also thinking about prediction marketing, so CEO David 27 00:01:28,520 --> 00:01:32,000 Speaker 4: Solomon saying they have a team looking at prediction markets. 28 00:01:32,360 --> 00:01:35,559 Speaker 4: There's not a ton of information that we have yet, 29 00:01:35,600 --> 00:01:38,120 Speaker 4: but of course this is something that it seems like 30 00:01:38,200 --> 00:01:40,840 Speaker 4: everyone on Wall Street is trying to get a hold of. 31 00:01:40,920 --> 00:01:42,640 Speaker 5: Are you going to make a prediction about their move 32 00:01:42,680 --> 00:01:43,720 Speaker 5: on prediction markets. 33 00:01:43,480 --> 00:01:45,399 Speaker 1: Carol, I know, I can't wait till that pops up, right. 34 00:01:45,640 --> 00:01:47,480 Speaker 5: Probably it did, but as. 35 00:01:47,319 --> 00:01:50,680 Speaker 1: Shre pointed out, you know, he also was cautionary because 36 00:01:50,680 --> 00:01:54,040 Speaker 1: there are concerns about the prediction markets. So maybe slow going. 37 00:01:54,560 --> 00:01:57,000 Speaker 1: But it is interesting to see Goldman Sacks interested. Morgan 38 00:01:57,040 --> 00:01:58,360 Speaker 1: Stanley also rallying today. 39 00:01:58,440 --> 00:02:02,280 Speaker 4: Yes, so Morgan Stanley took her also at a record 40 00:02:02,360 --> 00:02:05,160 Speaker 4: high in the shares. The stock is up about four 41 00:02:05,240 --> 00:02:09,760 Speaker 4: point or five point seven percent right now. Pretty good 42 00:02:09,760 --> 00:02:11,959 Speaker 4: earnings all around as well for Morgan Stanley. They beat 43 00:02:12,000 --> 00:02:15,560 Speaker 4: on net revenue, wealth management net revenue, beat equity sales 44 00:02:15,600 --> 00:02:18,320 Speaker 4: and trading just like Goldman beat. They did miss on 45 00:02:18,760 --> 00:02:21,760 Speaker 4: fixed sales and trading revenue, but the shareholders don't seem 46 00:02:21,760 --> 00:02:24,480 Speaker 4: to mind today. And then the big headline from Morgan 47 00:02:24,520 --> 00:02:28,400 Speaker 4: Stanley is that their debt bankers increased revenue ninety three 48 00:02:28,480 --> 00:02:30,839 Speaker 4: percent in the fourth. 49 00:02:30,320 --> 00:02:31,240 Speaker 1: Quarter, doubled it. 50 00:02:32,040 --> 00:02:33,000 Speaker 2: Yeah, that's crazy. 51 00:02:33,600 --> 00:02:35,760 Speaker 4: It was the biggest jump on Wall Street and capta 52 00:02:35,840 --> 00:02:38,640 Speaker 4: record year for that business. So these are the last 53 00:02:38,680 --> 00:02:41,560 Speaker 4: two big banks that we get out of earnings. So 54 00:02:42,880 --> 00:02:45,519 Speaker 4: we're heading into the next quarter on a very positive 55 00:02:45,520 --> 00:02:46,600 Speaker 4: note for the banks. 56 00:02:46,760 --> 00:02:49,480 Speaker 5: Okay, well, one more when it comes to financials. Black Rock. 57 00:02:49,600 --> 00:02:52,200 Speaker 5: What are you seeing with Blackrocks seeing shares surge on 58 00:02:52,240 --> 00:02:53,040 Speaker 5: the day today as well? 59 00:02:53,160 --> 00:02:56,720 Speaker 4: Yeah, Blackrock ticker b l K, it's up six percent 60 00:02:57,080 --> 00:03:00,240 Speaker 4: right now. It's at the highest level since October and 61 00:03:00,400 --> 00:03:03,280 Speaker 4: it was another beat. So they're the largest asset manager 62 00:03:04,120 --> 00:03:09,200 Speaker 4: reported adjusted EPs and net inflows that beat record assets 63 00:03:09,440 --> 00:03:12,080 Speaker 4: of fourteen trillion dollars. 64 00:03:12,680 --> 00:03:14,359 Speaker 1: Just a little bit, am, just a. 65 00:03:14,320 --> 00:03:16,440 Speaker 4: Little bit of money to go around, and of course 66 00:03:16,440 --> 00:03:18,720 Speaker 4: a lot of this is coming from record inflows into 67 00:03:18,720 --> 00:03:23,239 Speaker 4: their ETF business. It's trillions of dollars there of those 68 00:03:23,320 --> 00:03:23,960 Speaker 4: kinds of products. 69 00:03:24,000 --> 00:03:26,520 Speaker 5: What are the products that did well for the company 70 00:03:26,600 --> 00:03:28,480 Speaker 5: last year? And like if we were watching where the 71 00:03:28,520 --> 00:03:31,240 Speaker 5: flows go or is it the passive products? Is it 72 00:03:31,280 --> 00:03:33,880 Speaker 5: the big stuff that people have in their four oh 73 00:03:33,919 --> 00:03:35,600 Speaker 5: one ks or is it the more active sort of 74 00:03:35,720 --> 00:03:38,400 Speaker 5: niche stuff. It's hard to compete in ETFs. 75 00:03:38,440 --> 00:03:41,120 Speaker 4: It's definitely hard to compete in ETFs. Obviously black Rock 76 00:03:41,240 --> 00:03:44,280 Speaker 4: is known for their big passive products, but one standout 77 00:03:44,400 --> 00:03:47,839 Speaker 4: product was their bitcoin fund, which Eric Beltinos of BI 78 00:03:47,920 --> 00:03:50,240 Speaker 4: points out that they didn't say the word bitcoin in 79 00:03:50,280 --> 00:03:53,360 Speaker 4: their earnings. They used the word digital assets. But the 80 00:03:53,360 --> 00:03:57,320 Speaker 4: fund IBI was one of the best ETFs last year 81 00:03:57,320 --> 00:03:59,280 Speaker 4: in terms of inflows. So that's making them a ton 82 00:03:59,320 --> 00:04:02,760 Speaker 4: of money, and they can charge more for that because 83 00:04:02,920 --> 00:04:05,840 Speaker 4: it's more of like a specialized strategy, whereas they're not 84 00:04:05,880 --> 00:04:07,520 Speaker 4: going to charge a lot on like an S and 85 00:04:07,520 --> 00:04:10,360 Speaker 4: P five hundred fund. Also with Blackrocks, something to watch 86 00:04:10,360 --> 00:04:13,000 Speaker 4: here is that they're trying to move into private markets. 87 00:04:13,160 --> 00:04:15,840 Speaker 4: So they're known as like a big index giant, but 88 00:04:15,960 --> 00:04:18,679 Speaker 4: they have made a couple acquisitions over the last few years. 89 00:04:20,200 --> 00:04:24,240 Speaker 2: This stock Moover's report from Bloomberg Radio. Check back with 90 00:04:24,320 --> 00:04:26,880 Speaker 2: us throughout the day for the latest roundup of companies 91 00:04:26,960 --> 00:04:30,040 Speaker 2: making news on Wall Street, and for the latest market 92 00:04:30,120 --> 00:04:34,560 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 93 00:04:34,640 --> 00:04:38,159 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 94 00:04:38,240 --> 00:04:39,719 Speaker 2: the Bloomberg Business app.