Closing Bell: Apple Closes Higher, Cleveland-Cliffs Rises on Earnings, AppLovin Sinks - podcast episode cover

Closing Bell: Apple Closes Higher, Cleveland-Cliffs Rises on Earnings, AppLovin Sinks

Oct 20, 20255 min
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Episode description

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Tim Stenovec and Carol Massar.

On this episode of Stock Movers:

- Apple (AAPL) shares hit their first record of 2025 after Loop Capital upgraded the stock to buy from hold, becoming the latest firm to cite positive iPhone demand trends. The recent strength comes amid signs of stronger-than-expected demand for its latest iPhone lineup, with the iPhone 17 series outselling the iPhone 16 by 14% over their respective first 10 days on sale in the US and China.

- Cleveland-Cliffs (CLF) shares closed 21.47% higher after the company posted stronger-than-expected earnings and disclosed a pact with another metal producer. The company said it discovered two sites with potential to produce rare earth minerals, one in Michigan and another in Minnesota, and is evaluating whether rare earth minerals can be extracted from its mines.

- AppLovin (APP) was the worst performer in the S&P today after the New York Post reported that state regulators have reached out to multiple short sellers in a possible preliminary probe on the mobile advertising company.

See omnystudio.com/listener for privacy information.

Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio news.

Speaker 2

This is the closing bell on this stock movers report the company's making moves at the close of US trading with Carol Masser, Tim Stenebeck, Romain Bostick and Scarlet Food folks.

Speaker 3

This rally today pretty broad based, Katie. We've got four hundred and fourteen names in the s and P five hundred higher in today's session, eighty five to the downside for unchanged.

Speaker 4

Well, the circle probably says the same thing when you take a look at the sectors nine finishing in the green, just two in the red. Communications services, materials, industrials, those are some of your biggest winners today. Then you take a look at what didn't do too hot, consumer staples, utilities. Those are typically defensive sectors. To see them down just a little bit here really speaks to just how risk gone this Monday was.

Speaker 3

All right, guys, with all that green lots to choose from.

Speaker 1

I just want to point out something too, just to be clear here. The NAZA one hundred did close at a record high, but not the composite.

Speaker 3

Okay, good to know, Good to know, hey, Having said that, a good reason why we saw that composite moving up on this Monday Apple Apple shares finishing off the highs of this session, but still with a gain of just shy of four percent, hitting their first record of twenty twenty five after Luke Capitol upgraded the stock to buy from Hull, becoming the latest firm to cite positive iPhone demands. We did have reporting out on the terminal about Apple's

latest generation of iPhones. We're talking about the iPhone seventeen series off to a faster start than usual with its most basic model surging and popularity. So man, that was certainly a lot of momentum in today's trade. Got to mention Cleveland Cliffs, that stock up just about twenty one and a half percent today after the company posted stronger than expected earnings and disclosed a pact with another metal producer.

The companies said it discovered two sites with potential to produce rare earth minerals, one in Michigan another in Minnesota, and as evaluating whether rare earth minerals can be extracted from those minds. So again, that trade, that play, we continue to see that having momentum here in twenty twenty five. Got to mention Zions, We are waiting that company to report earnings. That regional bank stock up four point six percent today's session, higher after wild week last week on

concerns about credit. The stock, as we mentioned, hired today today, gain of about nine percent in today's session after dropping five percent last week.

Speaker 1

But we'll wait for.

Speaker 3

An update on its business as it gets ready to report in any moment. And just honorable mention those rare earth and critical mineral stocks on the move, US Antimony among them. This after William Blair came out and talked about these companies initiating the companies at an outperform. I just had to mention because we talked to US Antimony today, the CEO that stock was up nineteen percent today's session.

Speaker 5

Is a big move higher, especially for that company. That's what does it more than doubled so far this year. Yeah, like four percent is not like five hundred pcent pretty incredible.

Speaker 3

Hey.

Speaker 5

Some of the stocks in the red, not too many, but a couple prominent ones. I want to start with Oracle down four point nine percent. Hears fell for a second day in a row. They were fell close to seven percent on Friday, down another close to five percent today. Still up though more than sixty six percent so far this year. No real catalyst for this move, but again still up more than sixty six percent so far this year and among the worst performers in the S and

P five hundred today. The worst performer in the S and P five hundred, though, was app Lovin, down five point six percent. Shares fell after The New York Post reported that state regulators have reached out to multiple short sellers and a possible preliminary probe for the mobile advertising company. The states include Delaware, Oregon, in Connecticut. The report comes after news earlier this month that the SEC has been probing app Loven's and data collection practices, and finally, ADRs

of BNP Perryba closed down nine percent Today. A jury found that BNP Periba was liable for its role in enabling genocide in Sudan, worrying about twenty one million dollars to three plaintiffs. That verdict triggering speculation that the firm will have to agree to expensive settlement, with one analyst estimating a possible settlement of as much as ten billion dollars. Shares in France fell close to eight percent the verdict.

Those quote specific to these three plainiffs, and any attempt to extrapolate is necessarily wrong, as any speculation regarding a potential settlement is, the bank said Part Bank in Parts said in a statement.

Speaker 1

Let's take a quick look at yields. We did actually see prices across the board higher, with most of the activity on the longer end of the curve. That push your thirty year yield down by about three to four basis points. Similar move today for the twenty year. Your ten year yield now at three to nine to eight, down about three basis pointskis from where it was on Friday.

Speaker 2

This stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.

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