1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:17,640 --> 00:00:19,200 Speaker 1: Well, let's take a look at some stocks on the 5 00:00:19,239 --> 00:00:21,720 Speaker 1: move today. I am Tim Steneviek with Bloomberg's Matt Miller. 6 00:00:21,760 --> 00:00:25,279 Speaker 1: Were joined by Bloomberg's Emily Graffeo. She is out in 7 00:00:25,320 --> 00:00:29,280 Speaker 1: our San Francisco bureau. Emily, what's on your radar this afternoon? 8 00:00:30,160 --> 00:00:33,040 Speaker 3: Okay, So the first stock I'm looking at is app Lovin, 9 00:00:33,159 --> 00:00:36,760 Speaker 3: because that stock right now is up over fourteen percent. 10 00:00:37,400 --> 00:00:40,159 Speaker 4: It was down year to date before today, but this is. 11 00:00:40,120 --> 00:00:45,040 Speaker 3: An AI powered advertising tech platform that reported better than 12 00:00:45,080 --> 00:00:49,000 Speaker 3: expected earnings overall, the EPs beat, the revenue beat, and 13 00:00:49,040 --> 00:00:53,080 Speaker 3: then the street was really positive on these reports. You 14 00:00:53,080 --> 00:00:54,720 Speaker 3: look at what William Blair had to say. They have 15 00:00:54,760 --> 00:00:58,760 Speaker 3: an outperform rating. They said, we have covered technology stocks 16 00:00:59,080 --> 00:01:02,000 Speaker 3: for nearly twenty five years and have never covered a 17 00:01:02,040 --> 00:01:04,640 Speaker 3: company with this margin profile. 18 00:01:05,319 --> 00:01:07,160 Speaker 4: So pretty good day to be long. 19 00:01:07,319 --> 00:01:10,440 Speaker 3: App Love and Bloomberg Intelligence also said that they're above 20 00:01:10,480 --> 00:01:14,240 Speaker 3: consensus first quarter revenue and adjusted Ebita our testament to 21 00:01:14,280 --> 00:01:18,360 Speaker 3: their lead in providing services that help app publishers, sell 22 00:01:18,480 --> 00:01:20,120 Speaker 3: adspace and acquire users. 23 00:01:21,240 --> 00:01:25,559 Speaker 1: All right, app Lovin one to watch. Coinbase is also 24 00:01:26,280 --> 00:01:28,600 Speaker 1: on your list. Why are you looking at Coinbase today? 25 00:01:29,280 --> 00:01:32,479 Speaker 3: So Coinbase reports after the bell, but there is some 26 00:01:32,880 --> 00:01:36,600 Speaker 3: news driving Coinbase higher today, not only the fact that 27 00:01:36,720 --> 00:01:39,959 Speaker 3: bitcoin crossed one hundred thousand for the first time in 28 00:01:40,040 --> 00:01:43,520 Speaker 3: a couple months today. That lifts typically tends to lift 29 00:01:43,560 --> 00:01:46,680 Speaker 3: all crypto linked stocks, Coinbase, of course, a crypto exchange, 30 00:01:46,880 --> 00:01:50,000 Speaker 3: being one of them. But they also agree to acquire 31 00:01:50,160 --> 00:01:52,960 Speaker 3: dare a bit, which is the world's largest exchange for 32 00:01:53,040 --> 00:01:57,720 Speaker 3: bitcoin and ether options, for two point nine billion dollars. 33 00:01:57,840 --> 00:02:00,760 Speaker 3: So that's suck. Is still down fifteen percent year to date, 34 00:02:00,840 --> 00:02:03,520 Speaker 3: but it is up higher today. We'll see how there's 35 00:02:03,560 --> 00:02:06,840 Speaker 3: earnings turn out, though a lot of focus is probably 36 00:02:06,880 --> 00:02:09,480 Speaker 3: going to be on just how much trading volume they 37 00:02:09,560 --> 00:02:14,120 Speaker 3: saw as bitcoin really started the year down and of 38 00:02:14,120 --> 00:02:17,560 Speaker 3: course now is climbing much higher in part of a 39 00:02:17,600 --> 00:02:19,000 Speaker 3: broader risk on rally. 40 00:02:19,200 --> 00:02:22,400 Speaker 1: Yeah, the increase that we've seen going back just exactly 41 00:02:22,480 --> 00:02:24,840 Speaker 1: a month ago to April eighth, where bitcoin was that 42 00:02:25,000 --> 00:02:28,400 Speaker 1: seventy seven thousand dollars per bitcoin, Matt. Now it's only 43 00:02:28,400 --> 00:02:31,280 Speaker 1: five percent off of that all time high reached back 44 00:02:31,280 --> 00:02:31,919 Speaker 1: in January. 45 00:02:32,000 --> 00:02:34,000 Speaker 5: You know, it's interesting though that the dollar is up 46 00:02:34,040 --> 00:02:37,280 Speaker 5: as well, because bitcoin had been moving higher as the 47 00:02:37,440 --> 00:02:41,320 Speaker 5: dollar moved lower. And you know, the relationship that implies 48 00:02:41,440 --> 00:02:44,400 Speaker 5: is a little bit scary, but and also weird. 49 00:02:44,639 --> 00:02:46,560 Speaker 1: Like people that was like supposed to be the big 50 00:02:46,560 --> 00:02:48,639 Speaker 1: promise of bitcoin years ago. 51 00:02:48,560 --> 00:02:52,280 Speaker 5: And now you know, like in decades, we don't want 52 00:02:52,520 --> 00:02:55,560 Speaker 5: to make a cryptocurrency the world reserve currency when we 53 00:02:55,600 --> 00:02:58,960 Speaker 5: don't trust anybody that works in that industry. I think 54 00:02:59,000 --> 00:03:00,239 Speaker 5: it's pretty fascinating. 55 00:03:00,600 --> 00:03:00,919 Speaker 4: Listen. 56 00:03:01,000 --> 00:03:02,880 Speaker 5: I didn't know you had a list of stocks, Emily. 57 00:03:02,919 --> 00:03:04,639 Speaker 5: I thought we just threw stocks at her, and then 58 00:03:04,639 --> 00:03:07,120 Speaker 5: she says, oh, yeah, actually that's a great story. I 59 00:03:07,200 --> 00:03:08,400 Speaker 5: was looking this morning. 60 00:03:08,160 --> 00:03:09,080 Speaker 3: At d Nut. 61 00:03:09,680 --> 00:03:12,519 Speaker 1: Okay, look at that stock. Yeah, that's the nut. Yeah, 62 00:03:12,520 --> 00:03:13,600 Speaker 1: that's Krispy Kreme, isn't it. 63 00:03:13,600 --> 00:03:16,480 Speaker 5: Speak cream has lost more than fifty percent of its 64 00:03:16,560 --> 00:03:19,000 Speaker 5: value here today, and I think we can all agree 65 00:03:19,120 --> 00:03:23,920 Speaker 5: they make objectively the best glazed donuts in the world. 66 00:03:24,880 --> 00:03:26,400 Speaker 5: What's wrong about this stock? 67 00:03:27,320 --> 00:03:29,480 Speaker 4: I don't think I've had one before. 68 00:03:29,880 --> 00:03:32,919 Speaker 5: Are you joking with me? It's delicious? I mean they're 69 00:03:32,960 --> 00:03:35,160 Speaker 5: on the New York Stock exchange all the time. 70 00:03:35,280 --> 00:03:37,880 Speaker 1: Now twenty four percent today in one day. 71 00:03:38,560 --> 00:03:42,680 Speaker 3: Wow. Yeah, yeah, they actually the shares hit a record low. 72 00:03:43,040 --> 00:03:46,360 Speaker 3: They said they'll no longer pay quarterly cash dividends in 73 00:03:46,480 --> 00:03:49,680 Speaker 3: order to pay down debts and focus on growth. I 74 00:03:49,680 --> 00:03:51,560 Speaker 3: got to get into one of these stores and eat 75 00:03:51,600 --> 00:03:53,720 Speaker 3: these donuts and help this company. 76 00:03:53,360 --> 00:03:57,800 Speaker 1: Outious Emily mentioned the dividend ending. There's also the news 77 00:03:57,840 --> 00:04:00,680 Speaker 1: that it's pausing the expansion of its partnership with McDonald's 78 00:04:00,680 --> 00:04:03,120 Speaker 1: in the second quarter. It's also withdrawn its profit guidance 79 00:04:03,160 --> 00:04:06,920 Speaker 1: dudent macroeconomic weakness and uncertainty. Let's throw one more at her, 80 00:04:06,960 --> 00:04:10,240 Speaker 1: should we? Okay, how about Carvana? That's one. What's going 81 00:04:10,280 --> 00:04:11,640 Speaker 1: on with Carvanah, Emily. 82 00:04:11,840 --> 00:04:16,200 Speaker 3: Okay, So Carvana stock is much higher today. The company 83 00:04:16,240 --> 00:04:19,679 Speaker 3: doubled its profits in the first quarter, with record vehicle 84 00:04:19,800 --> 00:04:24,479 Speaker 3: volume and a substantial gain in loan sales. This could 85 00:04:24,520 --> 00:04:28,880 Speaker 3: perhaps be due to people trying to get ahead of 86 00:04:28,960 --> 00:04:34,320 Speaker 3: tariffs and so rushing out to buy used car vehicles. 87 00:04:34,360 --> 00:04:37,200 Speaker 3: But the revenue came in four point two to three billion. 88 00:04:37,240 --> 00:04:39,919 Speaker 3: It was up thirty eight percent year over year. So 89 00:04:39,960 --> 00:04:42,719 Speaker 3: that stock is up right now about twelve percent. It 90 00:04:42,800 --> 00:04:45,080 Speaker 3: hit its highest level since twenty twenty one. It's been 91 00:04:45,160 --> 00:04:50,400 Speaker 3: kind of a rough ride. Excuse the for this stock Did. 92 00:04:50,279 --> 00:04:50,760 Speaker 4: You like that one? 93 00:04:50,839 --> 00:04:51,080 Speaker 3: Mad Ma? 94 00:04:51,200 --> 00:04:53,799 Speaker 5: I gotta say no. I hate car puns, and because 95 00:04:53,839 --> 00:04:55,400 Speaker 5: I record on cars all the time, I hear them 96 00:04:55,440 --> 00:04:59,480 Speaker 5: a lot. Take a look at Carvana year to date, right, 97 00:04:59,640 --> 00:05:02,400 Speaker 5: it's up more than forty two percent. Take a look 98 00:05:02,440 --> 00:05:06,159 Speaker 5: at Uber, even after some disappointing data came out coming 99 00:05:06,200 --> 00:05:08,640 Speaker 5: out yesterday, is still up thirty eight percent year to date. 100 00:05:08,880 --> 00:05:13,400 Speaker 5: Take a look at Hurts, It's up sixty nine percent 101 00:05:13,880 --> 00:05:17,200 Speaker 5: year to date. The concern is that when these new 102 00:05:17,279 --> 00:05:21,640 Speaker 5: cars you know from General Motors are forward have to 103 00:05:21,680 --> 00:05:24,680 Speaker 5: be made so much more expensive due to tariffs. You're 104 00:05:24,760 --> 00:05:27,120 Speaker 5: much more likely to hail a ride, You're much more 105 00:05:27,200 --> 00:05:29,560 Speaker 5: likely to rent a car. You're much more likely to 106 00:05:29,600 --> 00:05:30,920 Speaker 5: buy a used car. 107 00:05:31,040 --> 00:05:34,520 Speaker 1: And oftentimes these used car these car rental companies sell 108 00:05:34,560 --> 00:05:36,919 Speaker 1: their used car fleets and that's a big portion of 109 00:05:36,960 --> 00:05:41,280 Speaker 1: their revenue. So then they become huge at car dealers enterprise. 110 00:05:40,960 --> 00:05:44,040 Speaker 5: For huge beneficiaries to hire used car prices. I watched 111 00:05:44,080 --> 00:05:49,360 Speaker 5: these Mannheim auctions. There are vehicles going for much more 112 00:05:50,040 --> 00:05:50,960 Speaker 5: than you would expect. 113 00:05:52,800 --> 00:05:56,920 Speaker 2: The Stock Movers Podcast from Bloomberg Radio. 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