WEBVTT - Apple's Customer Rush; Tesla's Turn; Walgreens Climbs

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers podcast, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg data.

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<v Speaker 1>Let's take a look. Now, it's some stocks on the

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<v Speaker 1>move today. We're joined by Bloomberg's John Tucker.

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<v Speaker 3>Let's start with the one that has the number one waiting.

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<v Speaker 3>Apple ones among the most active, could be getting a

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<v Speaker 3>boost of consumers try to front run the tariffs. So

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<v Speaker 3>you have employees from different Apple locations across the country.

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<v Speaker 3>They say the stores are filled with customers, with shoppers

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<v Speaker 3>expressing concerns prices are going to climb dramatically after the

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<v Speaker 3>tariffs are imposed. Most Apple, most of the iPhones, Apple's

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<v Speaker 3>best selling most important product, of course, are manufactured in China,

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<v Speaker 3>and China is due for fifty four percent tariffs. One

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<v Speaker 3>employee telling Bloomberg their store was slammed with people panic

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<v Speaker 3>buying phones. Almost every customer asked me if prices were

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<v Speaker 3>going to go up soon, said the worker, who refused

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<v Speaker 3>to be identified. By the way, Apple shares they've dropped

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<v Speaker 3>what nineteen percent since the terrafs were announced last week,

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<v Speaker 3>marking the worst three day stretch for Apple since two

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<v Speaker 3>thousand and one. Take a quick look at crypto stocks.

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<v Speaker 3>They're under pressures as bitcoin was struggling to catch a bid.

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<v Speaker 3>So Morgan Stanley has downgraded Robinhood to equal weight from overweight.

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<v Speaker 3>They have a price target now of forty remember that

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<v Speaker 3>used to be ninety. They're setting concerns the crypto market

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<v Speaker 3>turmoil could weigh on the company's transaction revenue this quarter.

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<v Speaker 3>The slide could also shake investors faith in bitcoin's role

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<v Speaker 3>as a safe haven during times of turbulent advocates they've

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<v Speaker 3>long promoted the token as kind of a hedge against

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<v Speaker 3>both the market volatility and the currency flush.

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<v Speaker 1>Well said there were some outflows, but not mental outflows.

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<v Speaker 3>Also always one of the most active Tesla Joel Levington.

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<v Speaker 3>He's the director of credit research for Blood Brig Intelligence.

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<v Speaker 3>He is writing this morning and this is a quote

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<v Speaker 3>Elon Musk. Pursuit of ambitious and high risk bands such

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<v Speaker 3>as the cyber truck now falling well short of sales goals,

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<v Speaker 3>even with the aggressive police discounts and the elusive robo

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<v Speaker 3>taxi are taking a toll on Tesla's fundamental performance at

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<v Speaker 3>a critical juncture in the auto market. It's long promised

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<v Speaker 3>to lower cost vehicle, the model Q will likely be met,

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<v Speaker 3>and when it does arrive with a weakening brand image,

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<v Speaker 3>a large market of inexpensive used Tesla's likely, fading government

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<v Speaker 3>support for evs and intensifying global competition.

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<v Speaker 1>Mister Musk, I believe, in the last forty eight hours,

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<v Speaker 1>had a meeting with mister Trump of some form phone

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<v Speaker 1>or face to face, don't know, and he basically said,

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<v Speaker 1>I don't agree with the tariffs. Paul, do you just

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<v Speaker 1>assume mister Musk returns to.

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<v Speaker 2>Tesla to I see that.

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<v Speaker 3>That was my assumption going into that.

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<v Speaker 2>I was again, I was kind of measuring his tenure

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<v Speaker 2>in the White House in weeks, maybe not months or years,

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<v Speaker 2>but he's lasted quite a long time.

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<v Speaker 1>Said quite the impact of the day.

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<v Speaker 3>And he was on social media over the weekend, Musk

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<v Speaker 3>was taking Peter Navarro questioning his credentials. So a little

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<v Speaker 3>bit of tension there. Wrap. Please I go buy this

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<v Speaker 3>store and it's vacant, it's been vacant.

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<v Speaker 2>I don't know.

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<v Speaker 3>Is this a no?

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<v Speaker 1>No?

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<v Speaker 3>Whoa would never be vacant? Goodness? No, this is Walgreens,

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<v Speaker 3>the one I passed over thirty six every morning. I mean,

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<v Speaker 3>it's just like, I don't know, the mis are running

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<v Speaker 3>around in there. They reported quarterly profit exceeding Wall Street expectations.

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<v Speaker 3>This is actually a pretty strong performance and what is

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<v Speaker 3>likely to be one of their last reports as a

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<v Speaker 3>public company. Kind of welcome news for investors. The second

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<v Speaker 3>largest pharmacy chan of the US, the investors have been

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<v Speaker 3>concerned about the ability of Walgreens to make enough money.

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<v Speaker 3>Amid declining insurance payments for PRIs prescriptions, increase competition from

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<v Speaker 3>the online retailers, and the big box story. The value

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<v Speaker 3>has plummeted over the past decade. A last month, of

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<v Speaker 3>Chain agreed to be purchased by Sycamore Partners for ten

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<v Speaker 3>billion dollars, and that deal is expected to close at

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<v Speaker 3>the end of this year.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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