WEBVTT - Closing Bell: PayPal Gains, Pfizer Tumbles, Comcast Rises

0:00:02.520 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:09.920 --> 0:00:13.360
<v Speaker 2>This is the closing bell on this stock mover's report

0:00:13.600 --> 0:00:16.560
<v Speaker 2>the companies making moves at the close of US trading

0:00:16.800 --> 0:00:22.040
<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostik, and scarlettfou.

0:00:22.280 --> 0:00:24.720
<v Speaker 3>All right, guys, let's go to some of the individual gainers,

0:00:24.840 --> 0:00:27.120
<v Speaker 3>if I may PayPal on that list at its highs,

0:00:27.200 --> 0:00:29.920
<v Speaker 3>up about two point three percent in today's session, finishing

0:00:29.920 --> 0:00:32.320
<v Speaker 3>with a gain of about one percentage point higher after

0:00:32.360 --> 0:00:35.320
<v Speaker 3>the company applied to become a bank in the US. Move,

0:00:35.680 --> 0:00:38.559
<v Speaker 3>at least according to some analysts, logical could unlock some

0:00:38.640 --> 0:00:42.959
<v Speaker 3>long term monetization should be approved given the favorable regulatory environment.

0:00:43.000 --> 0:00:45.760
<v Speaker 3>Again according to some of these analysts, but again a

0:00:45.760 --> 0:00:48.000
<v Speaker 3>lot of the reporting out on this from the analyst

0:00:48.000 --> 0:00:50.440
<v Speaker 3>community says the timeline is uncertain, could take years, So

0:00:50.840 --> 0:00:53.560
<v Speaker 3>just something to keep in mind. Let's go to Comcast.

0:00:54.160 --> 0:00:57.160
<v Speaker 3>This one was a top performer, number one gainer in

0:00:57.200 --> 0:00:59.160
<v Speaker 3>the S and P five hundred, I believe, also the

0:00:59.200 --> 0:01:03.440
<v Speaker 3>number one gainer in the Nasdaq one hundred in today's session. Yes,

0:01:03.600 --> 0:01:06.560
<v Speaker 3>up about five and a half percent. David Faber over

0:01:06.560 --> 0:01:11.240
<v Speaker 3>at CNBC making some comments about interesting trading activity, particularly

0:01:11.319 --> 0:01:15.080
<v Speaker 3>in the swaps market and also in options. A quote.

0:01:15.120 --> 0:01:17.959
<v Speaker 3>I don't know what's happening exactly, I will say the

0:01:18.000 --> 0:01:22.319
<v Speaker 3>stock some outperformance in many months. Stock though, is under pressure,

0:01:22.319 --> 0:01:25.160
<v Speaker 3>down about twenty two percent, but just certainly popping up

0:01:25.160 --> 0:01:28.839
<v Speaker 3>on our radar for something kind of completely different. This stock,

0:01:29.520 --> 0:01:33.560
<v Speaker 3>the ticker is RZLV. We're talking about Resolve AI, up

0:01:33.680 --> 0:01:36.640
<v Speaker 3>almost forty percent at its highs intra day, up twenty

0:01:36.680 --> 0:01:39.360
<v Speaker 3>eight percent here at the close. It's an AI solutions

0:01:39.400 --> 0:01:42.440
<v Speaker 3>company announced that it expects to exit this year with

0:01:42.520 --> 0:01:46.000
<v Speaker 3>annual recurring revenue exceeding two hundred million. They go on

0:01:46.080 --> 0:01:48.760
<v Speaker 3>to say the results materially exceed the company's original objective

0:01:49.040 --> 0:01:52.600
<v Speaker 3>of reaching one hundred million dollars in annual recurring revenue

0:01:52.640 --> 0:01:54.920
<v Speaker 3>by year end, and surpassing the one to fifty million

0:01:55.400 --> 0:01:59.040
<v Speaker 3>exit rate guidance issue just months ago. So some outperformance there.

0:01:59.280 --> 0:02:01.880
<v Speaker 3>The stock is still out about eighteen percent year to date,

0:02:01.920 --> 0:02:04.000
<v Speaker 3>with seven percent of the float short. And I just

0:02:04.040 --> 0:02:09.120
<v Speaker 3>want to mention, honorable mention, Tesla. I do think it

0:02:09.160 --> 0:02:12.720
<v Speaker 3>may have hit a record close. Let me just look, yeah, high.

0:02:12.560 --> 0:02:14.880
<v Speaker 4>Record high, rather terminal when you have romaine.

0:02:14.960 --> 0:02:19.880
<v Speaker 3>Yeah, I know, well okay, wow, stock up three percent

0:02:20.000 --> 0:02:22.320
<v Speaker 3>here at the close and a new all time high, the.

0:02:22.280 --> 0:02:25.079
<v Speaker 1>First one this year, right, yeah, yeah, first one since

0:02:25.160 --> 0:02:27.920
<v Speaker 1>last year, since basically since the December of twenty twenty four,

0:02:28.000 --> 0:02:30.200
<v Speaker 1>so it's been quite a while. Do you know why

0:02:30.240 --> 0:02:31.680
<v Speaker 1>Carol that it's any your record high?

0:02:33.000 --> 0:02:33.440
<v Speaker 2>Darn you?

0:02:33.639 --> 0:02:34.519
<v Speaker 3>Romaine Bostic?

0:02:35.160 --> 0:02:36.880
<v Speaker 1>Okay, I don't know, do you die?

0:02:37.040 --> 0:02:37.120
<v Speaker 3>No?

0:02:37.200 --> 0:02:37.560
<v Speaker 1>I don't.

0:02:37.840 --> 0:02:38.080
<v Speaker 3>Yeah.

0:02:38.639 --> 0:02:39.400
<v Speaker 2>Actually we talked.

0:02:39.639 --> 0:02:41.799
<v Speaker 3>We wanted to talk to Keith Naughton about like, why

0:02:41.840 --> 0:02:43.120
<v Speaker 3>are we seeing.

0:02:42.680 --> 0:02:45.120
<v Speaker 4>Reform Ford and GM and yeah, it's interesting that on

0:02:45.160 --> 0:02:48.000
<v Speaker 4>a day like today, when we see a big change

0:02:48.000 --> 0:02:50.520
<v Speaker 4>from Ford as of yesterday and the stock react today,

0:02:50.760 --> 0:02:54.480
<v Speaker 4>that we see success at EV's or robotaxis maybe as

0:02:54.520 --> 0:02:56.360
<v Speaker 4>what maybe it was the issues you're thinking about when

0:02:56.360 --> 0:02:57.399
<v Speaker 4>it comes to Tesla.

0:02:57.200 --> 0:03:00.400
<v Speaker 3>Is that the EU proposing ninety percent car emissions reduction target.

0:03:00.639 --> 0:03:04.080
<v Speaker 1>The headline says on the terminal, it's amid that self

0:03:04.160 --> 0:03:05.040
<v Speaker 1>driving optimism.

0:03:05.160 --> 0:03:08.720
<v Speaker 4>There we go, thanks, robots driving optimism. Hey, I want

0:03:08.720 --> 0:03:11.480
<v Speaker 4>to talk about some of the decliners on the day today.

0:03:11.720 --> 0:03:13.720
<v Speaker 4>There were so many energy stocks in the red that

0:03:13.800 --> 0:03:16.480
<v Speaker 4>I just chose the S and P five hundred Composite

0:03:16.600 --> 0:03:20.320
<v Speaker 4>energy down three percent today, all seventy one. Components of

0:03:20.320 --> 0:03:24.120
<v Speaker 4>this were lower. Katie mentioned energy stocks falling as signs

0:03:24.120 --> 0:03:26.480
<v Speaker 4>of and oversupply, and pencil Peace talks weight on oil

0:03:26.520 --> 0:03:30.120
<v Speaker 4>prices WTI falling to its lowest price going back to

0:03:30.160 --> 0:03:34.960
<v Speaker 4>February of twenty twenty one. Major decliners include Exxon Mobile, Chevron, Conoco, Phillips,

0:03:35.000 --> 0:03:40.160
<v Speaker 4>Phillips sixty six, and more. Also shares a Pfizer falling

0:03:40.240 --> 0:03:44.320
<v Speaker 4>on the day today. This after the company forecast revenue

0:03:44.360 --> 0:03:47.360
<v Speaker 4>next year little or no sales growth for the next year.

0:03:47.440 --> 0:03:49.600
<v Speaker 4>That'll be fifty nine and a half to sixty two

0:03:49.640 --> 0:03:51.760
<v Speaker 4>and a half billion dollars shares felt today by three

0:03:51.760 --> 0:03:55.320
<v Speaker 4>point four percent. The company expects next year's adjusted profit

0:03:55.960 --> 0:03:57.920
<v Speaker 4>to reach two eighty to three dollars a share, and

0:03:57.960 --> 0:04:01.320
<v Speaker 4>it's targeting more than seven billion dollars in save twenty seven.

0:04:01.800 --> 0:04:06.120
<v Speaker 4>And finally, ULCC that's Frontier Group, Ultra low cost carrier

0:04:06.400 --> 0:04:10.400
<v Speaker 4>that's the ticker, down eleven point two percent today. Frontier

0:04:10.440 --> 0:04:13.200
<v Speaker 4>shares fell as much as fifteen percent earlier in this session.

0:04:13.200 --> 0:04:15.600
<v Speaker 4>It was the most going only back to August. After

0:04:15.640 --> 0:04:18.360
<v Speaker 4>the company announced that James G. Dempsey has been appointed

0:04:18.360 --> 0:04:21.960
<v Speaker 4>interim CEO. He replaces longtime leader Verry Biffel.

0:04:22.360 --> 0:04:24.320
<v Speaker 1>All Right, quick check on yields. We should just point

0:04:24.360 --> 0:04:26.279
<v Speaker 1>out there we are down for a third straight day

0:04:26.760 --> 0:04:28.960
<v Speaker 1>on yields on the shorter end of the curve, only

0:04:29.000 --> 0:04:31.560
<v Speaker 1>down about two basis points, but obviously the trajectory that

0:04:31.600 --> 0:04:34.239
<v Speaker 1>a lot of folks that priced into this market prior

0:04:34.360 --> 0:04:37.039
<v Speaker 1>to that THEAD meeting a week ago. You're also seeing

0:04:37.040 --> 0:04:38.960
<v Speaker 1>the rest of the yeld curve shift lower here on

0:04:38.960 --> 0:04:41.640
<v Speaker 1>the day, so basically a parallel shift down here as

0:04:41.680 --> 0:04:44.720
<v Speaker 1>we see two to three basis points across the curve.

0:04:45.320 --> 0:04:49.360
<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

0:04:49.440 --> 0:04:52.000
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:52.080 --> 0:04:55.159
<v Speaker 2>making news on Wall Street and for the latest market

0:04:55.200 --> 0:04:59.640
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:05:00.000 --> 0:05:03.240
<v Speaker 2>Bomberg dot com, and on Applecarplay and Android Auto with

0:05:03.320 --> 0:05:04.760
<v Speaker 2>the Bloomberg Business app.

0:05:09.080 --> 0:05:09.440
<v Speaker 4>Mm HM