1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:18,079 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:18,280 --> 00:00:21,640 Speaker 1: I'm Carol Masser along with Matthew Miller in for Tim Stanebeck. 5 00:00:21,800 --> 00:00:23,239 Speaker 1: Let's take a look at some stocks on the move 6 00:00:23,280 --> 00:00:27,120 Speaker 1: today with us as Bloomberg News Equities reporter Alexandra Semenova. 7 00:00:27,360 --> 00:00:30,120 Speaker 1: And when we take a look at some stocks that 8 00:00:30,160 --> 00:00:33,919 Speaker 1: are moving today, you got to talk about, well, where 9 00:00:33,960 --> 00:00:34,720 Speaker 1: do you want to start. 10 00:00:35,040 --> 00:00:37,880 Speaker 3: So a little less exciting than Brad Pitt is Hyatt 11 00:00:37,920 --> 00:00:42,440 Speaker 3: Hotel's real estate portfolio. They're selling sorry, Hyatt fifteen resorts 12 00:00:42,479 --> 00:00:45,240 Speaker 3: for two billion dollars. This is part of an effort 13 00:00:45,280 --> 00:00:47,559 Speaker 3: to cut back on its real estate holdings and to 14 00:00:47,640 --> 00:00:50,360 Speaker 3: add to its all inclusive offerings. They've been trying to 15 00:00:50,400 --> 00:00:53,000 Speaker 3: do that for years now. Tortuga Resorts that is the 16 00:00:53,080 --> 00:00:57,080 Speaker 3: joint venture of private investment firms KSL Capital Partners in Redina. 17 00:00:57,240 --> 00:00:59,880 Speaker 3: They'll be buying those properties and the transaction is expected 18 00:00:59,920 --> 00:01:02,280 Speaker 3: to be completed at the end of this year. Hyatt 19 00:01:02,280 --> 00:01:05,240 Speaker 3: is also eligible to receive an additional one hundred and 20 00:01:05,240 --> 00:01:08,440 Speaker 3: forty three million dollars if certain operating thresholds are met 21 00:01:08,480 --> 00:01:11,520 Speaker 3: in this deal, it entered into a fifty year agreement 22 00:01:11,959 --> 00:01:15,600 Speaker 3: for contracts on thirteen of those fifteen hotels, meaning that 23 00:01:15,640 --> 00:01:18,800 Speaker 3: the company will earn fees from those properties into its 24 00:01:18,800 --> 00:01:22,039 Speaker 3: loyalty programs. Now, broadly, the deal is expected to reduce 25 00:01:22,160 --> 00:01:25,960 Speaker 3: volatility in its portfolio. Jeffries called it a strategic move, 26 00:01:26,240 --> 00:01:29,240 Speaker 3: and Morgan Stanley analysts are saying that this removes uncertainty 27 00:01:29,319 --> 00:01:33,160 Speaker 3: over asset dispositions in this current macro environment. The stock 28 00:01:33,240 --> 00:01:34,840 Speaker 3: is about flat right now, is up as much as 29 00:01:34,840 --> 00:01:36,040 Speaker 3: four percent earlier in the day. 30 00:01:36,120 --> 00:01:37,760 Speaker 1: Yeah, bit of a swing there right in terms of 31 00:01:37,800 --> 00:01:39,760 Speaker 1: the trade. You want to go to the. 32 00:01:39,760 --> 00:01:44,040 Speaker 4: Next robin hood. The stock is up and Vlad has 33 00:01:44,120 --> 00:01:46,720 Speaker 4: been saying he wants to tokenize equities, and now I 34 00:01:46,720 --> 00:01:47,480 Speaker 4: guess they're doing it. 35 00:01:47,640 --> 00:01:50,480 Speaker 3: Yeah, that's getting a really positive reaction today. Up about 36 00:01:50,480 --> 00:01:52,680 Speaker 3: twelve percent right now. And Matt, actually, the stock is 37 00:01:52,720 --> 00:01:54,880 Speaker 3: up one hundred and forty eight percent this year. Didn't 38 00:01:54,920 --> 00:01:57,280 Speaker 3: realize how well it was doing. It is joining the 39 00:01:57,280 --> 00:02:00,320 Speaker 3: push to trade US equities on the blockchain. It is 40 00:02:00,600 --> 00:02:04,480 Speaker 3: tokenizing US securities to one hundred and fifty thousand customers 41 00:02:04,560 --> 00:02:07,680 Speaker 3: in thirty countries twenty four hours a day, five days 42 00:02:07,680 --> 00:02:11,680 Speaker 3: a week. Tokenized securities are blockchain trade at assets whose 43 00:02:11,919 --> 00:02:15,560 Speaker 3: values mirror the underlying equity. My favorite part of this 44 00:02:15,600 --> 00:02:19,520 Speaker 3: whole announcement is that lat ten If actually unveiled this 45 00:02:19,639 --> 00:02:22,880 Speaker 3: in conference at the chateau where Alfred Hitchhoks to catch 46 00:02:22,880 --> 00:02:24,960 Speaker 3: a thief was. He went on to say that crypto 47 00:02:25,320 --> 00:02:29,160 Speaker 3: is more than a speculative asset very poetic. Exchange traded 48 00:02:29,200 --> 00:02:31,519 Speaker 3: shares are available to investers in most parts of Europe 49 00:02:31,600 --> 00:02:35,320 Speaker 3: right now, but advocates for these tokenized versions say that 50 00:02:35,360 --> 00:02:39,080 Speaker 3: they offer benefits of equities, including dividends and stock splits. 51 00:02:39,280 --> 00:02:40,840 Speaker 1: It does look like lat ten I is going to 52 00:02:40,840 --> 00:02:44,000 Speaker 1: be on at three three ten pm I think today. 53 00:02:44,160 --> 00:02:46,480 Speaker 4: Okay, so he's just about to come television. 54 00:02:46,560 --> 00:02:49,400 Speaker 1: Yeah, but don't close, but don't go anywhere. 55 00:02:49,400 --> 00:02:54,320 Speaker 4: Don't go anywhere. Still listen to us multiple screens, Goldman 56 00:02:54,440 --> 00:02:56,640 Speaker 4: Sachs And to me, the bank stories were huge today, 57 00:02:56,680 --> 00:02:58,839 Speaker 4: So not great, did you have? I mean, the fact 58 00:02:58,880 --> 00:03:01,440 Speaker 4: that they passed the stress test is not hughes noah back. 59 00:03:01,520 --> 00:03:03,880 Speaker 4: Obviously they're going to and I feel like they might 60 00:03:03,880 --> 00:03:05,280 Speaker 4: want to grade on the curve and just fail at 61 00:03:05,360 --> 00:03:08,480 Speaker 4: least one once a year. But that wouldn't be great 62 00:03:08,520 --> 00:03:09,960 Speaker 4: for the economy, and. 63 00:03:09,919 --> 00:03:11,240 Speaker 1: You don't want to be that one bang. 64 00:03:11,400 --> 00:03:13,960 Speaker 4: But I g also in the news for firing like 65 00:03:14,000 --> 00:03:16,800 Speaker 4: two hundred and thirty managers. So there's a lot of 66 00:03:16,800 --> 00:03:17,959 Speaker 4: bank news and a lot of movements. 67 00:03:18,080 --> 00:03:20,560 Speaker 3: Yeah, a lot going on. Shares the banks across the 68 00:03:20,600 --> 00:03:24,440 Speaker 3: border gaining after comfortably clearing the FED stress test late Friday. 69 00:03:24,480 --> 00:03:27,280 Speaker 3: That sent set the stage for lenders to boost buybacks 70 00:03:27,560 --> 00:03:31,560 Speaker 3: and dividends to shareholders. The heavyweights today all moving higher, Goldman, Sacks, 71 00:03:31,760 --> 00:03:34,600 Speaker 3: Wells Fargo, Bank of America, JP, Morgan and City and 72 00:03:34,720 --> 00:03:38,120 Speaker 3: also guys. The KBW Bank index is rising four and 73 00:03:38,280 --> 00:03:41,280 Speaker 3: eighth straight. Data shows what an incredible run this sector 74 00:03:41,320 --> 00:03:43,760 Speaker 3: has had. And of course we have earning season coming up, 75 00:03:43,800 --> 00:03:46,760 Speaker 3: and they're kind of the informal curtain raiser for what's ahead, 76 00:03:46,800 --> 00:03:49,360 Speaker 3: so everyone will be tuning into what banks are saying. 77 00:03:49,400 --> 00:03:52,800 Speaker 3: Obviously looking at remarks from Mike Mayo, he says that 78 00:03:52,800 --> 00:03:56,680 Speaker 3: the FED stress test is a clear demonstration that regulation 79 00:03:56,800 --> 00:04:00,520 Speaker 3: is becoming less onerous, less volatile for the sector. 80 00:04:00,560 --> 00:04:02,840 Speaker 1: I mean, look at the KBW Bank indes dex It's 81 00:04:02,920 --> 00:04:04,680 Speaker 1: up about nine and a half percent so far this year, 82 00:04:04,680 --> 00:04:06,560 Speaker 1: compared with about a five percent game the S and 83 00:04:06,600 --> 00:04:07,080 Speaker 1: P five. 84 00:04:07,000 --> 00:04:12,080 Speaker 4: Labors Financials as a group this year. Yeah, I think 85 00:04:12,080 --> 00:04:15,080 Speaker 4: they're the third biggest game taste. I have Industrials as 86 00:04:15,080 --> 00:04:18,799 Speaker 4: the biggest gainer year to date, right, and then comm 87 00:04:18,839 --> 00:04:22,599 Speaker 4: services which is the hyperscalers, and then financials in third place. 88 00:04:22,839 --> 00:04:24,680 Speaker 1: Yeah, they've really had some app performance there. 89 00:04:24,720 --> 00:04:26,560 Speaker 3: Most STROTTERG of Side spoken to say that that is 90 00:04:26,680 --> 00:04:28,440 Speaker 3: set to continue the second half of the year. 91 00:04:29,760 --> 00:04:33,880 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 92 00:04:34,000 --> 00:04:36,760 Speaker 2: us throughout the day for the latest roundup of companies 93 00:04:36,800 --> 00:04:39,840 Speaker 2: making news on Wall Street and for the latest market 94 00:04:39,880 --> 00:04:44,200 Speaker 2: moving headlines. 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