Speaker 1: Bloomberg Audio Studios podcasts, radio news.
Speaker 2: The Stock Movers podcast, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Pretty Goop. That one
Speaker 1: big stock on the move after earnings is a stock
Speaker 1: we could talk about in the context of the macro economy. Pritty,
Speaker 1: let's talk about FedEx. Good morning, Good.
Speaker 3: Morning, Nathan. Let's do it. FedEx is sinking in a
Speaker 3: very big way, shares down a whopping six percent this
Speaker 3: morning and dropping as we speak. It is your biggest
Speaker 3: downside mover coming off a pretty scary warning from the shipper,
Speaker 3: basically saying that there are tariffs coming, more tarffs coming,
Speaker 3: there's more pain ahead, and that is ultimately going to
Speaker 3: hit on demand. Remember the context of this is crucial.
Speaker 3: We just heard from j Powell in the last twenty
Speaker 3: four hours saying pretty much the exact same thing, that
Speaker 3: we don't see the data show up yet, but that
Speaker 3: pain is coming. That's something that FedEx really ran with
Speaker 3: in terms of that warning. They're actually seeing the profit
Speaker 3: impact for their company their bottom line could be worse
Speaker 3: this quarter simply because of that trade war weighing on
Speaker 3: their business. Now the pre market, like I said, you
Speaker 3: started to see the shares pay excuse me, pair a
Speaker 3: little bit of those losses, but still down almost six
Speaker 3: percent in the pre market. Remember this is a stock
Speaker 3: that has been down quite a bit this year. We're
Speaker 3: looking as much as eighteen percent. They're also in the
Speaker 3: midst of a massive restructuring, a massive cost saving here
Speaker 3: as well, because FedEx and UPS are dealing with the
Speaker 3: loss of some crucial clients. FedEx famously losing the business
Speaker 3: of the United States Post Office and UPS also losing
Speaker 3: some business when it comes to Amazon as well. So
Speaker 3: these two companies have really been looking at digging into
Speaker 3: their cost savings. FedEx saying that this latest development on
Speaker 3: the tariff story is certainly not helping them, and the
Speaker 3: market is taking that at face value, down about six percent,
Speaker 3: like I said, or FedEx also have to get a
Speaker 3: quick check on UPS shares as well. FDx is the
Speaker 3: ticker for FedEx. UPS is also the ticker for UP
Speaker 3: for the company UPS. Naturally, those shares down about one percent,
Speaker 3: and I think this is really interesting. These are two
Speaker 3: companies that move together in lockstep, and this morning you
Speaker 3: are of course sing an outsize reaction in FedEx. But
Speaker 3: keep an eye at the open and see if UPS
Speaker 3: starts to show a little bit more of that pain.
Speaker 3: Just as we speak, we are now down about one
Speaker 3: point four percent on UPS shares in the pre market, Nathan,
Speaker 3: so lots going on in the shipping space as well.
Speaker 3: A couple of analysts upgrades that I want to put
Speaker 3: on your radar, though, and to give you the negative,
Speaker 3: let me give you the positive here. Your biggest mover
Speaker 3: in the pre market to the upside within the S
Speaker 3: and P five hundred, it's actually Coinbase, which has been
Speaker 3: having a pretty decent streak this morning. Coin is your
Speaker 3: ticker higher by about two I'm out, sorry, hi, by
Speaker 3: about three percent, trading at three hundred and fifty four
Speaker 3: dollars a share. Looks like they're getting a price target
Speaker 3: boost over at Bernstein from this three hundred and ten
Speaker 3: dollars a share to five hundred and ten dollars to
Speaker 3: share is stacking with their outperform rating, that is a
Speaker 3: pretty big boost. We should remember Coinba's also got a
Speaker 3: boost in terms of the last couple of days, we
Speaker 3: start to get a bit of a green light from
Speaker 3: stable coin legislation out of Washington, DC, so that has
Speaker 3: been a positive for the cryptocurrency exchange. Nathan, A little
Speaker 3: bit of a throwback because I know you love those.
Speaker 3: Let's talk about BlackBerry here this morning is a throwbag.
Speaker 3: I know we don't talk about it very often.
Speaker 2: But who knew I'd have one? I did not.
Speaker 3: I admit I did not. I was. I was a
Speaker 3: flip phone girly and then an iPhone. I know my youth. Nevertheless,
Speaker 3: BlackBerry Shares BB is your ticker. Shares are hired by
Speaker 3: about twelve percent. Looks like their forecast is pretty strong,
Speaker 3: not because of the cell phones, but becomes of software
Speaker 3: that's getting a bit of a tailwind.
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with
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