1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,600 --> 00:00:16,560 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,800 --> 00:00:21,479 Speaker 2: with Carol Masser, Tim Stenobeck, Romain Bostik, and Scarlet Foo. 5 00:00:23,000 --> 00:00:25,440 Speaker 1: Quick check on the S and P five hundred almost 6 00:00:25,480 --> 00:00:28,000 Speaker 1: and even split guys, two hundred and thirty six names 7 00:00:28,000 --> 00:00:30,160 Speaker 1: to the upside, Alex, We've got two hundred and sixty 8 00:00:30,240 --> 00:00:32,800 Speaker 1: one names losing ground today, six unchange. 9 00:00:32,880 --> 00:00:34,559 Speaker 3: Yeah, you can kind of see that in the IMAP 10 00:00:34,600 --> 00:00:37,000 Speaker 3: function as well. It's sort of a mishmash of what's 11 00:00:37,080 --> 00:00:38,600 Speaker 3: up and what's down, but not know a lot of 12 00:00:38,640 --> 00:00:41,120 Speaker 3: movement either way. Rody's the worst performing sector right down 13 00:00:41,159 --> 00:00:43,640 Speaker 3: six tens and one percent. Tech the best performing sector, 14 00:00:43,680 --> 00:00:46,120 Speaker 3: but only up by about four tenths of one percent. 15 00:00:46,159 --> 00:00:48,280 Speaker 3: So super calm movement all across the board. 16 00:00:48,400 --> 00:00:49,560 Speaker 2: Yeah, I love mishmash. 17 00:00:50,320 --> 00:00:52,199 Speaker 3: It's an official it's an official technical term. 18 00:00:52,240 --> 00:00:54,040 Speaker 1: Did you not know that I know it now It's 19 00:00:54,120 --> 00:00:56,360 Speaker 1: mish mash. Go on the terminal. All right, let's get 20 00:00:56,360 --> 00:00:59,680 Speaker 1: to some of the individual gainers. Coin number one gainer 21 00:00:59,680 --> 00:01:01,640 Speaker 1: in the S and P five hundred folks at BUS 22 00:01:02,400 --> 00:01:05,200 Speaker 1: I know I love it when I'm surprised. 23 00:01:05,280 --> 00:01:07,000 Speaker 4: I know I was paying so so close attention to 24 00:01:07,080 --> 00:01:08,280 Speaker 4: Jay powellum us in all the real action. 25 00:01:08,400 --> 00:01:11,040 Speaker 1: All right, Well, there was action in Coinbase today, up 26 00:01:11,040 --> 00:01:13,960 Speaker 1: sixteen percent in today's session, Billionaire Michael Novogratz coming out 27 00:01:13,959 --> 00:01:18,640 Speaker 1: saying that stable coin legislation will push traditional financiers toward cryptocurrencies. 28 00:01:18,680 --> 00:01:23,080 Speaker 1: You also had Coinbase introducing coinbase Payments, a stable coin 29 00:01:23,160 --> 00:01:26,319 Speaker 1: payment stack for commerce platforms. And you might remember yesterday, 30 00:01:26,440 --> 00:01:29,560 Speaker 1: JP Morgan came out saying it's launching a pilot for 31 00:01:29,640 --> 00:01:32,520 Speaker 1: a token called JPMD, which represents dollar deposits. It will 32 00:01:32,520 --> 00:01:36,039 Speaker 1: transfer a fixed amount to coin based Global on the 33 00:01:36,040 --> 00:01:39,160 Speaker 1: public block chain base. This stock is up about seventeen 34 00:01:39,160 --> 00:01:41,080 Speaker 1: percent yuniting, So I just feel like a lot of 35 00:01:41,080 --> 00:01:44,680 Speaker 1: momentum around that puppy. Marvel Technology, number one gainer in 36 00:01:44,680 --> 00:01:48,000 Speaker 1: the NASDAQ one hundred folks, up about seven percent today's session. 37 00:01:48,000 --> 00:01:51,720 Speaker 1: Analyst positive on the chipmaker following an event focused on AI. 38 00:01:51,960 --> 00:01:55,320 Speaker 1: At that event, Marvell raised its overall data center total 39 00:01:55,320 --> 00:01:59,160 Speaker 1: addressable market to ninety four billion dollars by twenty twenty 40 00:01:59,200 --> 00:02:02,040 Speaker 1: eight from seven five billion. This stock, though, is off 41 00:02:02,080 --> 00:02:05,040 Speaker 1: more than thirty percent year to date and one more 42 00:02:05,080 --> 00:02:05,920 Speaker 1: for you Go Go. 43 00:02:06,560 --> 00:02:06,880 Speaker 2: I'm go. 44 00:02:08,400 --> 00:02:11,080 Speaker 1: It's not just a dance from the sixties. Up about 45 00:02:11,120 --> 00:02:14,040 Speaker 1: fifteen percent today's session. You know Wi Fi while we're flying, 46 00:02:14,840 --> 00:02:19,359 Speaker 1: has that improved? That's a great point. Every time I fly, 47 00:02:19,520 --> 00:02:21,359 Speaker 1: I can never get Wi Fi anymore. I think it's 48 00:02:21,440 --> 00:02:21,960 Speaker 1: me but I. 49 00:02:21,960 --> 00:02:23,320 Speaker 3: Feel like it definitely has improved. 50 00:02:23,800 --> 00:02:24,800 Speaker 1: Don't think, I don't know. 51 00:02:24,880 --> 00:02:27,040 Speaker 4: Depends on the air. W wow remain nameless. 52 00:02:27,120 --> 00:02:29,800 Speaker 1: Yeah, we're going to be good today. Shares storing, though 53 00:02:29,800 --> 00:02:32,679 Speaker 1: on heavy volume, the company coming out saying it successfully 54 00:02:32,880 --> 00:02:35,520 Speaker 1: successfully completed its first end to end call using its 55 00:02:35,520 --> 00:02:39,079 Speaker 1: five G technology. William Blair coming out saying those developments 56 00:02:39,080 --> 00:02:43,120 Speaker 1: represent a significant milestone for Go Go's five G network. 57 00:02:43,160 --> 00:02:46,000 Speaker 1: Stock is up eighty percent year to date. Thirty percent 58 00:02:46,040 --> 00:02:48,919 Speaker 1: of the float though shorted, so investors kind of watching 59 00:02:49,080 --> 00:02:49,600 Speaker 1: very closely. 60 00:02:49,800 --> 00:02:53,560 Speaker 4: Okay, Well, the small moves in the indexes really masked 61 00:02:53,560 --> 00:02:56,000 Speaker 4: some big moves taking place under the surface. I want 62 00:02:56,040 --> 00:02:59,359 Speaker 4: to start with wolf Speed down thirty percent today, the 63 00:02:59,440 --> 00:03:03,440 Speaker 4: chip maker shares plummeting. Bloomberg did report today that it 64 00:03:03,480 --> 00:03:06,440 Speaker 4: will be taken over by creditors, including Apollo Global Management, 65 00:03:06,520 --> 00:03:08,480 Speaker 4: under a proposal that would put it into bankruptcy to 66 00:03:08,520 --> 00:03:13,120 Speaker 4: slash billions of dollars in debt. Shareholders could though, actually 67 00:03:13,160 --> 00:03:15,919 Speaker 4: recover as much as five percent in this propost scenario. 68 00:03:16,000 --> 00:03:18,840 Speaker 4: This is as opposed to what typically happens during a 69 00:03:18,840 --> 00:03:22,240 Speaker 4: situation such as this, where they are wiped out completely 70 00:03:22,320 --> 00:03:26,400 Speaker 4: in bankruptcy. Uber shares also on the move lower today, 71 00:03:26,400 --> 00:03:30,679 Speaker 4: and this as a result of some Waimo news. We're excited. Well, 72 00:03:30,760 --> 00:03:34,920 Speaker 4: don't get too excited, because just because Waimo's will start 73 00:03:34,960 --> 00:03:36,960 Speaker 4: to be tested in New York with a human driver, 74 00:03:37,120 --> 00:03:40,560 Speaker 4: this is what drove shares of Uber lower today, doesn't 75 00:03:40,600 --> 00:03:43,160 Speaker 4: necessarily mean that we're going to be seeing these all 76 00:03:43,160 --> 00:03:45,760 Speaker 4: over and going to be able to take them anytime soon. 77 00:03:45,800 --> 00:03:48,160 Speaker 3: Wait, so Carol's into this, I'll Carol loves it. 78 00:03:48,200 --> 00:03:50,560 Speaker 4: I convinced her, my God, to get into one of 79 00:03:50,600 --> 00:03:53,000 Speaker 4: these things. She did it. Where were you in Arizona? 80 00:03:53,080 --> 00:03:55,400 Speaker 1: I did an Arizona first. It was like evening to 81 00:03:55,520 --> 00:03:59,240 Speaker 1: the airport, closing my eyes. I'm totally comfortable. I've done 82 00:03:59,280 --> 00:04:03,000 Speaker 1: what several's. Oh, Alex, it's kind of like. 83 00:04:02,720 --> 00:04:04,160 Speaker 4: I think you're the only one here. He hasn't done that. 84 00:04:04,200 --> 00:04:05,880 Speaker 1: It almost feels like you get into a spa, there's 85 00:04:05,920 --> 00:04:09,559 Speaker 1: like this really easy, easy music. The car is immaculate, 86 00:04:10,200 --> 00:04:14,200 Speaker 1: there's nobody talking. You're one of those. 87 00:04:14,080 --> 00:04:15,440 Speaker 2: People right now. 88 00:04:15,640 --> 00:04:17,479 Speaker 4: You know what Carol feels when you know, somebody talks 89 00:04:17,480 --> 00:04:19,200 Speaker 4: to her next airplane. 90 00:04:18,800 --> 00:04:22,200 Speaker 1: Right you get into the car and they're like hi Carol, 91 00:04:22,520 --> 00:04:25,480 Speaker 1: You're like hi, Okay, it's just it's pretty cool. 92 00:04:25,320 --> 00:04:29,320 Speaker 4: Carol obviously not concerned about the you know, robot robot 93 00:04:29,360 --> 00:04:32,200 Speaker 4: overlords taking over. This is in New York, Yeah, this 94 00:04:32,279 --> 00:04:33,440 Speaker 4: is in New York. This is where they're going to 95 00:04:33,480 --> 00:04:35,719 Speaker 4: be testing it out, but only with a human driver 96 00:04:35,960 --> 00:04:38,240 Speaker 4: and behind the wheel. So with the human like in 97 00:04:38,560 --> 00:04:40,520 Speaker 4: midtown or where. I don't know, we'll see. 98 00:04:40,600 --> 00:04:40,840 Speaker 1: I don't know. 99 00:04:41,160 --> 00:04:43,279 Speaker 4: I think there are a lot of challenges to this 100 00:04:43,360 --> 00:04:47,040 Speaker 4: service happening like it happens in San Francisco, just due 101 00:04:47,080 --> 00:04:49,400 Speaker 4: to the congestion in New York, and there aren't necessarily 102 00:04:49,400 --> 00:04:51,800 Speaker 4: places to pull over legal places like break it to 103 00:04:51,839 --> 00:04:53,880 Speaker 4: San Francisco. You ain't got nothing on New York. Yeah, 104 00:04:53,960 --> 00:04:57,559 Speaker 4: when it comes to congestion, it's like easy easy there 105 00:04:57,920 --> 00:05:01,039 Speaker 4: all right. Way moos shares or me Uber shares down 106 00:05:01,080 --> 00:05:03,200 Speaker 4: one point six percent today, Let's move on to some 107 00:05:03,240 --> 00:05:07,200 Speaker 4: payments companies. MasterCard fell by five point four percent, but 108 00:05:07,320 --> 00:05:09,640 Speaker 4: Visa is what I want to highlight, down four point 109 00:05:09,720 --> 00:05:13,320 Speaker 4: nine percent. Both of these companies fell over worries about 110 00:05:13,360 --> 00:05:17,080 Speaker 4: the impact of stable coins on credit card issuers. Remember 111 00:05:17,400 --> 00:05:19,640 Speaker 4: we saw this on Friday, after that Wall Street Dromal 112 00:05:19,760 --> 00:05:22,400 Speaker 4: report that said that Amazon and Walmart were interested in 113 00:05:22,440 --> 00:05:25,800 Speaker 4: stable coins. We did hear David Sachs today telling Bloomberg 114 00:05:25,800 --> 00:05:28,440 Speaker 4: TV that stable coin legislation would cause the asset class 115 00:05:28,440 --> 00:05:31,599 Speaker 4: to grow and create demand and create demand for the 116 00:05:31,720 --> 00:05:32,280 Speaker 4: US dollar. 117 00:05:32,480 --> 00:05:34,480 Speaker 3: I have an honorable mention. I'm gonna pluy a domain 118 00:05:34,600 --> 00:05:37,479 Speaker 3: on you. Walmarts now in its longest losing streak since 119 00:05:37,560 --> 00:05:40,839 Speaker 3: two thousand and four, let's take a moment. I mean 120 00:05:40,920 --> 00:05:42,560 Speaker 3: to be fair, it was on a huge winning streak. 121 00:05:42,680 --> 00:05:45,280 Speaker 3: So take that with a grain of salt. Bond market 122 00:05:45,360 --> 00:05:49,880 Speaker 3: look at that nothing, absolutely no movement there. You're looking 123 00:05:49,880 --> 00:05:51,840 Speaker 3: at the two year below that four percent level. You're 124 00:05:51,839 --> 00:05:54,880 Speaker 3: looking at the ten year around four point three eight percent. 125 00:05:55,000 --> 00:05:57,040 Speaker 3: There was a breaking headline of a few minutes ago 126 00:05:57,120 --> 00:05:59,960 Speaker 3: saying that foreign treasuries holdings held near a record high 127 00:06:00,720 --> 00:06:03,960 Speaker 3: in April. That was quite interesting. They dipped about thirty six, 128 00:06:04,520 --> 00:06:07,520 Speaker 3: they dipped thirty six billion dollars to nine trillion dollars. 129 00:06:07,600 --> 00:06:11,560 Speaker 3: But yet foreign holdings are still sticky for Treasury, so 130 00:06:11,640 --> 00:06:13,080 Speaker 3: that was of course a big risk in a big 131 00:06:13,120 --> 00:06:15,000 Speaker 3: worry for the long end of the market. So far, 132 00:06:15,120 --> 00:06:15,599 Speaker 3: so good. 133 00:06:17,040 --> 00:06:21,000 Speaker 2: The stock moover's report from Bloomberg Radio. Check back with 134 00:06:21,160 --> 00:06:23,720 Speaker 2: us throughout the day for the latest roundup of companies 135 00:06:23,800 --> 00:06:26,839 Speaker 2: making news on Wall Street and for the latest market 136 00:06:26,920 --> 00:06:31,400 Speaker 2: moving headlines. 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