Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Carol Messer along with Tim Stenevik. Let's get to
Speaker 3: some stocks on the move this past week. For that,
Speaker 3: we're joined by Bloomberg News crossasset reporter Emily Garfeo joining
Speaker 3: us here in studio.
Speaker 2: Where should we begin?
Speaker 3: This has been an interesting week.
Speaker 4: This has been a really interesting week, And I guess
Speaker 4: we'll start with Amazon because obviously tech was in focus
Speaker 4: this week, a lot of volatility. Amazon specifically was down
Speaker 4: for the last four straight trading sessions. It finished the
Speaker 4: week down twelve percent, and then today the company announced
Speaker 4: plans to spend two hundred billion dollars this year on
Speaker 4: data centers, chips, and other equipment. And like we've seen
Speaker 4: with other companies Microsoft and Alphabet in recent days, these
Speaker 4: companies that are now saying we're going to spend a
Speaker 4: lot on AI. Before investors were cheering that, and now
Speaker 4: we're seeing equity investors not liking that news, bringing up
Speaker 4: the fact that when are we going to see a
Speaker 4: return on this spending. But really interesting to watch because
Speaker 4: the markets did end you know, hire today, but Amazon
Speaker 4: did not recover. It closed down Friday, was down almost
Speaker 4: six percent just on Friday alone, but then again closing
Speaker 4: twelve percent down on the week.
Speaker 1: Andy Jasse, the CEO of Amazon, he's very optimistic, right,
Speaker 1: he says that most of that spending will be for
Speaker 1: AI workloads. He's remember he's the guy behind AWS their cloud. Yeah,
Speaker 1: the cloud. I mean, that's that's why he got this
Speaker 1: job and running the whole company. But like you said,
Speaker 1: investors want to know when when they're going to start
Speaker 1: seeing the payot. One hundred and forty one billion dollars
Speaker 1: is what analysts thought, Yeah, it would be right, sixty billion.
Speaker 2: But I feel like so.
Speaker 3: Much the commentary that we've heard, even Mark Mahiney, like,
Speaker 3: these people are spending because they have to spend big,
Speaker 3: right the demand is there, and so if they don't,
Speaker 3: you know, you risk potentially falling behind. Right in this
Speaker 3: AI kind of arms race, I don't even know if
Speaker 3: you could.
Speaker 2: Call it that.
Speaker 3: But let's get to Tapestry. So we go from something
Speaker 3: you know, lot of tech AI two leather good.
Speaker 4: Yeah, something rooted in reality, something we can touch and
Speaker 4: feel a leather bag. So Tapestry is the parent of Coach.
Speaker 4: This is Tacker. TPR was up nineteen percent on the week,
Speaker 4: one of the best performers in the S and P
Speaker 4: five hundred, and they adjusted their earnings per share guidance
Speaker 4: for the full year. Net sales were up fourteen percent
Speaker 4: year every year. In their recent earnings, the company also
Speaker 4: said they acquired three point seven million new customers globally
Speaker 4: in the second quarter.
Speaker 3: Wow.
Speaker 4: We had a great piece at Bloomberg News about how
Speaker 4: gen Z this was a couple months ago, but like
Speaker 4: gen Z is really into coach bags. They've had quite
Speaker 4: a Y two K revival, so people want to buy
Speaker 4: these do.
Speaker 1: We often hear of apparel companies or fashion companies talking
Speaker 1: about number of customers they've acquired, Like, I don't know,
Speaker 1: you know what that sounds. It sounds very tech like.
Speaker 4: I mean, you know it was in the additional comments
Speaker 4: from the seat from the company. It wasn't like it's
Speaker 4: a metric.
Speaker 1: To hear from a company like this, because it's very like,
Speaker 1: does it mean they're they're filling out? You know, when
Speaker 1: you go to a website to do some online shopping,
Speaker 1: you're like Okay, get fifteen percent off, put in your
Speaker 1: your email. And then you put in your email, They're like, oh,
Speaker 1: actually you need to put in your phone number two.
Speaker 3: And then I'm like, I do think companies are increasingly tracking.
Speaker 3: Is this a return customer? Is this a new customer?
Speaker 3: Is this a new demographic that we're reaching. I do think.
Speaker 3: I mean, listen, they're collecting so much data on us.
Speaker 3: It's like crazy, we should get free stuff all this
Speaker 3: information that they're getting. All right, So that was an
Speaker 3: interesting one. Let's go to Coinbase.
Speaker 4: Okay, finally, Coinbase ticker coin it was down fifteen percent
Speaker 4: on the week. We did see a little bit of
Speaker 4: a recovery at least on Friday, but I mean, this
Speaker 4: is a cryptocurrency exchange, so it's very tied to what
Speaker 4: crypto markets are doing. It was falling for like three
Speaker 4: straight weeks almost. It was up thirteen percent on Friday,
Speaker 4: but still down fifteen percent on the week. Coinbase has
Speaker 4: earnings next week, so a lot of focus there on
Speaker 4: just how much of the crypto what we call a
Speaker 4: crypto winter, the crypto downturn, is going to impact Coinbase.
Speaker 4: The analysts are expecting that they'll have their first revenue
Speaker 4: drop since twenty twenty three. It's been rough for crypto again.
Speaker 4: There was a little bit of a rally on Friday,
Speaker 4: but right now bitcoin is down about forty five percent
Speaker 4: from its peak, nearly erasing all of the losses since
Speaker 4: Trump was elected. He was really supposed to support this industry,
Speaker 4: and it seemed like he was really good for prices
Speaker 4: at first, but in recent weeks we've seen that rapidly,
Speaker 4: rapidly change.
Speaker 3: What a wild trade this week. I want to throw
Speaker 3: one in if I can. Hymns and Hers Health, which
Speaker 3: is actually down fifteen percent for the week overall, but
Speaker 3: what we're seeing right now in the aftermarket is a
Speaker 3: dip lower down about nine percent. Some headlines crossed after
Speaker 3: the close today. FDA taking action to combat copycat weight
Speaker 3: loss drugs, so citing Hymns and Hers and other compounding pharmacies.
Speaker 3: And the FDA to combat misleading direct to consumer advertising,
Speaker 3: so again taking some action versus non FDA approved GLP
Speaker 3: one drugs. Yeah.
Speaker 1: Novo Nordisk warned this week that Hymns and Hers compounded
Speaker 1: someemglitude pill, some glue tide pill excuse me, could post
Speaker 1: patients safety risk. Hyms and Hurst confirmed it would enable
Speaker 1: providers to prescribe the needle free weight loss option to
Speaker 1: its specialty telehealth platform on Thursday. You know, I was
Speaker 1: surprised to hear the news earlier this week that YMS
Speaker 1: and hers would be doing this because.
Speaker 3: We know that bought this question up as soon as
Speaker 3: you heard it.
Speaker 1: Because there's not a shortage anymore. So you can't compound
Speaker 1: medicines that are patented anymore. Qurey FDA regulations because there's
Speaker 1: not If there's not a shortage, all right, you can
Speaker 1: do it. If there's a shortage, it's a loophole.
Speaker 3: So it was already down on the week, but taking
Speaker 3: another leg down aftermarket. Thank you so much.
Speaker 4: Thank you.
Speaker 3: I've been a busy week. Have a good weekend this week.
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