- 7 months ago
Category
🗞
NewsTranscript
00:00And right now we are two minutes away from the end of the trading day.
00:03Romain Bostic here with Katie Greifeld, taking you through to that closing bell with a global simulcast.
00:08Carol Massa and Tim Senevich join us.
00:10Welcome to our audiences across all of our Bloomberg platforms, television, radio, our partnership here with YouTube.
00:16And welcome back, Tim Senevich, from your Florida vacation.
00:19You missed a lot.
00:21It was quite the vacation.
00:21You don't look tan, Tim.
00:22Yeah.
00:23Well, if I don't look tan, it's because I wasn't outside much.
00:27That's not what I saw.
00:28That's kind of the whole point of being in Florida.
00:29You look like you're outside.
00:32I'm not kidding.
00:32It was so hot that between interviews, I would go inside to the air conditioning.
00:36Wow.
00:36That tracks.
00:38At like nine in the morning, the humidity.
00:40Yeah.
00:41That's the thing.
00:42It's never the heat, right?
00:43You move to Florida for the taxes, but then you have to deal with the weather.
00:46All right.
00:47Maybe we'll talk a little about that later.
00:48Yeah, maybe.
00:49All right.
00:49We're watching a trade, little changed overall, certainly on the S&P and the NASDAQ 100.
00:53We just caught up with our own Bailey Lipschel.
00:55Talked a lot about the markets here.
00:56We're just saying no real conviction in terms of volume right now in the trade that we are
01:02seeing.
01:02And I think it's safe to say investors are just trying to figure out, what do I do?
01:05When does this war end?
01:07I need some kind of timeline to really figure out what's my strategy going forward.
01:10That's reflected in commodity prices.
01:12I mean, WTI below $90, but still up more than 5.5% today.
01:18Katie, Brent up more than 5.2% today.
01:21$92.40 is where it is.
01:24Both of those up more than 50% year to date.
01:26Yeah.
01:26I have to say, while you were in Florida, you missed a lot of volatility in the oil market.
01:32I mean, just breathtaking.
01:33And it feels like that is the asset class that all other asset classes have been keying off of.
01:37And I do want to point out all these asset classes, with the exception of bonds, all
01:41sort of oscillated between red and green on the day.
01:44And I think it gets to your point, Tim, about this idea of a lot of investors really just
01:48not knowing exactly what direction we go from here.
01:51That is true for all of the major indices which spent time in the red and spent time in
01:55the green.
01:55As for the closing bells, the Dow will finish in the red down almost 300 points or six tenths
02:00of 1%.
02:01The S&P will finish in the red down six points or about a tenth of a percent.
02:05The Nasdaq composite, that will finish in the green up about a tenth of a percent.
02:09And the Russell 2000 in the red down about two tenths of 1%.
02:13All right.
02:13Quick check on the S&P 500, guys.
02:15Most names in the index lower for the Wednesday trade.
02:19331 losing ground today.
02:21Katie, 170 to the upside, two unchanged.
02:23Let's take a look at the sector level as illustrated by the circle here.
02:27An interesting makeup.
02:29Energy was your biggest outperformer when it comes to percentage gains, up about two
02:34and a half percent.
02:35Tech participating as well, higher by about four tenths of a percent.
02:39To the downside, though, consumer staples down about 1.3%.
02:44Real estate financials also lower, but eight out of 11 sectors in the red today.
02:50Carol.
02:50All right.
02:51Let me get to some of my gainers here.
02:53I was kind of changing.
02:54Did you have to do some late, last minute updates, Carol?
02:57Finley, our producer, gets an award because I was moving stuff around a lot.
03:00So she is a gem.
03:02I want to go to Oracle.
03:03Let's start there because your number two gainer in the S&P 500.
03:06They reported, as we all know, earnings after the close yesterday.
03:10We were all breaking them down.
03:11Stock soaring, finishing off its best levels of the session, but still up about nine tenths of a percent here.
03:16Strong AI cloud sales, fiscal year outlook, suggesting little let up in demand for AI compute, if you will, and
03:25AI-related spending.
03:26And I will say that that was higher than expected.
03:29Oracle did maintain its capital spending, which, as I said, was higher than expected for the quarter, but it maintained
03:36it for its fiscal year forecast.
03:37Fifty billion dollars is what it laid out, and that seemed to be pleasing to investors.
03:42So, again, keep in mind, stock down about 14 percent year-to-date, down roughly 50 percent from its high
03:47in September 10th of last year.
03:49Let's go to Sable Offshore.
03:51This was kind of a late ad.
03:53Thank you, President Trump.
03:54Ticker is SOC.
03:56President Trump getting ready or said to be preparing to invoke a Cold War-era power to pave the way
04:03for renewed oil production off the southern coast of California.
04:06And this is the Sable Offshore Company looking to restart significant production from a cluster, I should say, of offshore
04:15platforms in California.
04:17So this one halted in trading earlier, up as much as 33 percent in today's trade, finishing the day with
04:22a gain of about 15 percent.
04:25Go on over to CF Industries, ticker is CF, and this one also on a tear today, and you can
04:33see it's up about 9 percent here, up more than 50 percent year-to-date on track.
04:37I believe this might be a record close for this one.
04:40Agricultural chemical companies, so we're talking about fertilizers.
04:42We've seen them rise as a result of what's going on in the Middle East and the U.S. war
04:46in Iran.
04:48It's impacting nitrogen, phosphate supplies, raising prices.
04:51Keep in mind that Saudi Arabia supplies about 15 to 20 percent of the global trade all through the Strait
04:56of Hormuz, according to a recent note from Scotiabank.
05:00So these companies, as a result of all of this, maybe supplies are going to be impacted, and so you're
05:05seeing higher prices potentially for these areas.
05:10And I've got to mention Caesars, if I can, just real quickly, again, a late ad, up about 12 percent.
05:16This, as billionaire Tillman for TIDA, in exclusive talks to buy the company for about $7 billion.
05:22We're talking about $34 a share, and you can see the stock closing just below $30 a share.
05:27This would top a competing bid from Carl Icahn, and this is all according to the Wall Street Journal, citing
05:32people familiar.
05:33So, Finley, thank you again for the change.
05:35All right, let's talk about some of the stocks.
05:37I appreciate the host.
05:37That was a lot. I was so afraid you were going to be like, oh, wait, but we've got to
05:41do an honorable mention, so I was changing.
05:43You just have to always have an honorable mention ready, Romaine.
05:45No.
05:47Thank you, Tim. Welcome back.
05:49I know her well.
05:51I want to start with the alternative asset managers, starting with Aries and KKR.
05:56Aries fell today by 4.8 percent. KKR fell by 3.2 percent.
06:00This, as JPMorgan Chase is said to be restricting some lending to private credit funds.
06:05The move adds to already weak sentiments surrounding alternative asset managers after weeks of stock sell-offs.
06:11Blue Owl was looking down more than 60 percent from last year's highs.
06:16Pretty remarkable.
06:17Also, looking at shares of Stryker today.
06:20They fell on the day today after a cyber attack against the company, crippled the company's global operations.
06:26This, according to a person familiar with the matter, in a memo seen by Bloomberg News, Stryker shares fell by
06:313.6 percent.
06:33The pro-Iranian digital hack activist group Handala has claimed credit for the incident, and many Stryker employees around the
06:38world are unable to work and have been sent home from offices.
06:41Stryker has stated that it is experiencing a global network disruption to its Microsoft environment as a result of the
06:46cyber attack, and its teams are working to understand the impact of the attack on its system.
06:51And finally, how about Campbell's Soup?
06:54Shares falling today down by 7 percent.
06:58The company cut its profit outlook to the lowest in a decade.
07:01Consumers are moving away from chips and pretzels.
07:03Supply constraints are weighing on sales of freshly baked goods.
07:07Snacks division Romaine missed expectations in the second fiscal quarter.
07:11And we got some earnings still.
07:12Yeah, let's go to Petco, ticker Wolf.
07:15The share is up 15 percent in the after-hours trade.
07:17The earnings just crossing the wire.
07:19Adjusted EBITDA in the most recent quarter does look like it was a beat.
07:23Net sales relatively in line with expectations at about 1.52 billion.
07:27And here's your forecast.
07:28The company says that for the full year, expect adjusted EBITDA in a range of $415 to $430 million.
07:34That's above, well above what the street was looking for at about $404.
07:38A lot of that, though, does appear to be back-weighted toward the second half of the year as they
07:42do give a first quarter adjusted EBITDA number that is higher than what the street was looking for, but only
07:46by a couple million dollars.
07:48What's that ticker, Romaine?
07:50W-O-O-F, for all you dog lovers.
07:52Wait, how do you say it?
07:53Meow.
07:56That's for Katie.
07:56Anyway, yeah, that's for Katie there.
07:59The cat lover here, the one cat lover here on the program.
08:01We forgive her.
08:03We just want to check in real quick on yields here because we did actually continue to see a meaningful
08:07move higher.
08:08Particularly on the long end of the curve with your 20-year and your 30-year yield up by about
08:12eight basis points on the day.
08:13So the sell-off in that space does continue on the shorter end of the curve up about five basis
08:18points here.
08:18That is a setup heading into a Fed decision day one week from today.
08:23All right, everybody.
08:23Let's get to some stories on our radar.
08:26Maybe not such a great Batman, but maybe he's better at doing deals.
08:30I'm talking about Ben Affleck.
08:32Was he not looked at as a good Batman?
08:34No, Tim.
08:35No, he was not.
08:36Even he knows that.
08:37Okay.
08:39So Netflix is going to pay as much as $600 million for Ben Affleck's AI firm.
08:44It is called Interpositive.
08:46It's an AI movie-making company, Tim.
08:48It's cheaper than a $72 billion pursuit of Warner Brothers.
08:52You know, but it raises the question about Hollywood and AI.
08:55This is really interesting because, as we know, workers in Hollywood are worried that studios will use AI to eliminate
09:01jobs.
09:02But this company, Interpositive is what it's called, the director needs to shoot a movie before the software can train
09:08using the footage.
09:09Only then can it help remove stray items or adjust the background in a scene.
09:13It doesn't train on films without permission or generate new projects without the base film.
09:18But it cleans up stuff?
09:18It cleans up.
09:19But that still, I would imagine, that still does do things that have been done manually in the past or
09:24that people have done in the past.
09:26So, yeah, I'd like to see a film actually produced by this company, though, I will say, I mean, it
09:30is.
09:30David Fincher has been using it in an upcoming Brad Pitt film.
09:34Upcoming Brad Pitt film.
09:35So, there you go.
09:36Is this like Fight Club 2?
09:37What is this?
09:38I don't know what it is.
09:39That's it?
09:39The film is.
09:40I don't know.
09:41But Brad Pitt is in it.
09:42Yeah.
09:43Did somebody say Brad Pitt?
09:45I'm sorry.
09:45Brad Pitt.
09:46I just got a little flustered there.
09:47No, I'm just kidding.
09:49Okay.
09:50What was that ticker, roommate?
09:51What was that ticker?
Comments