1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:16,480 Speaker 1: harnessing the power of Bloomberg data. 4 00:00:17,760 --> 00:00:19,680 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:19,680 --> 00:00:22,439 Speaker 2: I'm Nathan Hager, joined by Bloomberg's Critti Gupta and of 6 00:00:22,440 --> 00:00:24,360 Speaker 2: course Crety. There is a lot of focus on the 7 00:00:24,400 --> 00:00:28,479 Speaker 2: copper market this morning after President Trump's fifty percent tariff thread, 8 00:00:28,520 --> 00:00:30,880 Speaker 2: so we got to talk about the stock bellweather in 9 00:00:30,920 --> 00:00:31,480 Speaker 2: that space. 10 00:00:31,880 --> 00:00:34,640 Speaker 3: Freeport mcmaran, good morning, Good morning, Nathan. 11 00:00:34,880 --> 00:00:38,040 Speaker 4: Freeport Macaran FCX is your ticker hire by two point 12 00:00:38,040 --> 00:00:41,559 Speaker 4: four percent this morning, trading just over forty seven dollars 13 00:00:41,600 --> 00:00:44,080 Speaker 4: a share, really reflecting to your point what you see 14 00:00:44,280 --> 00:00:48,400 Speaker 4: in the broader macro kind of economic sphere. This idea 15 00:00:48,560 --> 00:00:51,080 Speaker 4: that you are starting to see tariffs be built into 16 00:00:51,120 --> 00:00:55,080 Speaker 4: the US copper contracts is a big deal. You compare 17 00:00:55,080 --> 00:00:57,240 Speaker 4: them to the LME copper contracts, which is the one 18 00:00:57,240 --> 00:00:58,120 Speaker 4: that trade here in London. 19 00:00:58,120 --> 00:00:59,600 Speaker 3: They're the more widely traded ones. 20 00:00:59,720 --> 00:01:03,480 Speaker 4: You are seeing a massive dispergent I'm gonna say that 21 00:01:03,480 --> 00:01:07,040 Speaker 4: dispersion slash divergence is what I'm trying to say. Between 22 00:01:07,200 --> 00:01:10,440 Speaker 4: the two contracts, and that's reflecting here in Freeport mcmaran 23 00:01:10,480 --> 00:01:13,319 Speaker 4: that premium that is commanded by those US contracts. 24 00:01:13,360 --> 00:01:15,400 Speaker 3: So FCX shares a hire by about. 25 00:01:15,240 --> 00:01:18,120 Speaker 4: Two point four percent, again trading at forty seven dollars 26 00:01:18,160 --> 00:01:20,479 Speaker 4: a share. You've seen that reflected around the world, though, 27 00:01:20,520 --> 00:01:22,240 Speaker 4: the idea here simply being that there is going to 28 00:01:22,240 --> 00:01:24,920 Speaker 4: be shared a moving around. I'm gonna try to get 29 00:01:24,920 --> 00:01:27,840 Speaker 4: my words right out this morning, Nathan, moving around of 30 00:01:27,880 --> 00:01:30,280 Speaker 4: some of the actual supply. The concern here, on the 31 00:01:30,280 --> 00:01:33,040 Speaker 4: other hand, though, is simply that the US has been 32 00:01:33,080 --> 00:01:35,360 Speaker 4: front loading a lot of these copper imports anyway. So 33 00:01:35,680 --> 00:01:38,400 Speaker 4: the idea of even more coming in, or coming in 34 00:01:38,440 --> 00:01:40,520 Speaker 4: at a higher price maybe cushions a little bit of 35 00:01:40,520 --> 00:01:42,759 Speaker 4: a blow because the inventories are so high. Some wonky 36 00:01:42,800 --> 00:01:46,399 Speaker 4: economics showing up in Freeport mcmaran's price. Let's talk about 37 00:01:46,400 --> 00:01:49,440 Speaker 4: another company that is I would say a bell Weather. 38 00:01:49,480 --> 00:01:52,120 Speaker 4: I think it's fair to say Starbucks this morning, SBUX 39 00:01:52,200 --> 00:01:54,960 Speaker 4: is your ticker hire by one point six percent, trading 40 00:01:55,000 --> 00:01:57,080 Speaker 4: at ninety six dollars a share. Nathan, I say it's 41 00:01:57,080 --> 00:02:00,000 Speaker 4: a bell Weather because caramel laatees get me through life, 42 00:02:00,080 --> 00:02:04,640 Speaker 4: and that's that's I think understood the answers absolutely exactly. 43 00:02:04,680 --> 00:02:06,400 Speaker 4: I need the sugar, I need the coffee. I need 44 00:02:06,400 --> 00:02:09,320 Speaker 4: to pay a million dollars for it. And there is 45 00:02:09,360 --> 00:02:13,320 Speaker 4: some news though from CNBC actually but also from others 46 00:02:13,400 --> 00:02:16,320 Speaker 4: saying that their China unit is such a draw interest 47 00:02:16,360 --> 00:02:18,880 Speaker 4: for a controlling stake. This is a really important story 48 00:02:18,919 --> 00:02:22,440 Speaker 4: because Starbucks has been trying to really win over the 49 00:02:22,480 --> 00:02:23,520 Speaker 4: Asian market broadly. 50 00:02:23,560 --> 00:02:25,040 Speaker 3: It hasn't really been able to do it. 51 00:02:25,080 --> 00:02:27,400 Speaker 4: Coffee is not as easy of a sell in a 52 00:02:27,560 --> 00:02:28,720 Speaker 4: tea dominated culture. 53 00:02:29,000 --> 00:02:30,000 Speaker 3: Starbucks has struggled with that. 54 00:02:30,080 --> 00:02:31,519 Speaker 4: You've seen it in their sales, you've seen it in 55 00:02:31,560 --> 00:02:34,280 Speaker 4: their exposure, and that is showing up today. So the 56 00:02:34,320 --> 00:02:38,600 Speaker 4: idea of getting interest from another party is a good 57 00:02:38,639 --> 00:02:40,960 Speaker 4: thing for Starbucks. So those shares getting a boost this 58 00:02:41,120 --> 00:02:44,120 Speaker 4: morning as well. I'm speaking of boost, let's talk about 59 00:02:44,200 --> 00:02:45,720 Speaker 4: M and A and M and A Wednesday is the. 60 00:02:45,760 --> 00:02:47,560 Speaker 3: New is the new norm? I guess yeah? 61 00:02:47,560 --> 00:02:50,880 Speaker 4: Really this summer at least MERK coming out with a 62 00:02:50,880 --> 00:02:53,920 Speaker 4: pretty decent deal. MRK confirming some rumors that we've already 63 00:02:53,960 --> 00:02:58,440 Speaker 4: seen for Verona Pharmaceuticals. This is a British company. Their 64 00:02:58,440 --> 00:03:01,280 Speaker 4: ad rs, though are listed in the States. Vr NA 65 00:03:02,040 --> 00:03:05,600 Speaker 4: is your ticker, hired by twenty one percent this morning, 66 00:03:05,639 --> 00:03:08,560 Speaker 4: trading at about one hundred and four dollars a share 67 00:03:08,600 --> 00:03:11,880 Speaker 4: and change. vRNA is your ticker there Mark Shares on 68 00:03:11,880 --> 00:03:14,560 Speaker 4: the other hand, down excuse me, up by about three 69 00:03:14,600 --> 00:03:16,040 Speaker 4: tens of one percent. We'll see if that M and 70 00:03:16,040 --> 00:03:19,560 Speaker 4: A trade shakes out closer to the open. Nathan, I'll 71 00:03:19,639 --> 00:03:22,040 Speaker 4: leave you with one final one, and that's t Mobile 72 00:03:22,120 --> 00:03:25,520 Speaker 4: down about one point nine percent this morning. TMUS is 73 00:03:25,560 --> 00:03:28,320 Speaker 4: your ticker getting a downgrade over at key Banks, and 74 00:03:28,360 --> 00:03:30,160 Speaker 4: the valuation is simply too lofty. 75 00:03:31,639 --> 00:03:35,760 Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with 76 00:03:35,840 --> 00:03:38,600 Speaker 1: us throughout the day for the latest roundup of companies 77 00:03:38,640 --> 00:03:41,680 Speaker 1: making news on Wall Street and for the latest market 78 00:03:41,720 --> 00:03:46,080 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 79 00:03:46,120 --> 00:03:49,400 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 80 00:03:49,440 --> 00:03:50,920 Speaker 1: the Bloomberg Business app.