Closing Bell: Draft Kings, Flutter, Cruise Lines All Jump; Micron Continues to Sink - podcast episode cover

Closing Bell: Draft Kings, Flutter, Cruise Lines All Jump; Micron Continues to Sink

Mar 23, 20265 min
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Episode description

On this episode of Stock Movers:

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, Carol Massar and Tim Stenovec.

- Draft Kings (DKNG) and Flutter (FLUT) stocks rose as the Wall Street Journal reported US senators are set to introduce bipartisan legislation to ban sports bets on prediction markets like Kalshi and Polymarket.

- Cruise lines such as Norwegian (NCLH), Carnival (CCL), and Royal Carribean (RCL) shares all rose  after President Donald Trump said he told US forces to postpone all strikes against Iranian power plants and energy infrastructure for a five-day period.

- Micron (MU) shares continued to fall after last week the company warned that it will need to spend heavily on production to meet burgeoning demand, overshadowing a generally upbeat forecast from the largest US maker of computer memory chips.

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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio news.

Speaker 2

This is the closing bell on the stock Movers report the companies making moves at the close of US trading with Carol Masser, Tim Stenovak, Romaine Bostik, and Katie Greifel.

Speaker 3

I had a lot to choose from in terms of individual gainers. So let's get to it, folks. Two names, Draftking and Flutter certainly some outperformance they're in the trade. That has to do with these two names gaining after the Wall Street Journal reported that US Senators are set to introduce bipartisan legislation to band sports bets on prediction markets. So this has certainly been giving the likes of DraftKings

and Flutter kind of a run for their money. Now, the bill pertains to entities regulated by the CFTC, including prediction market exchanges, KUSHI and Polymarket. According to the newspaper, as I said, these two names that have been under some pressure as investors spread over the competitive threat posed by Calcian Polymarket, which have seen volumes tied to sporting events boom. So we're going to keep a watch on that one. DraftKings up more than one percent and Flutter

up about four point four percent. Flip it on over to the cruise lines also getting a kick to the upside, and they were among your top gainers in the S and P five hundred. Norwegion up more than six percent, and you're looking at more than five and a half percent gains on both Carnival and Royal. And this basically has to do with what's going on at least some of the headlines out of the president when it comes to the war in the Middle East and in Iran,

President Trump backing off those threats. So we did see the whole travel sector actually gaining in today's session, so some optimism coming back. And then one more name I just want to throw into it is Palanteer that one up six almost six point eight percent in today's session, top in the NASDAQ one hundred as its Maven artificial intelligence system will reportedly become an official program of record

for the Pentagon. You might remember on Friday, our own Katrina Mansage get a new book app that's all about Project Maven that's been developed over the last decade or so. She reported on Friday how the Pentagon intends to accelerate AI enable decision making and put it at the heart of its ambition to link up sensors and shooters for combat operations. That was according to a policy memo seen by Bloomberg. So she kind of front run that front ran front run.

Speaker 1

Very cool book too.

Speaker 3

Yeah, it is a incredible book about what the government's been working on.

Speaker 1

Hey, I abought some decliners. Not easy to find it.

Speaker 3

Project Maven, Project Maven, Katrina Manson. Man, you even talked to her? You should?

Speaker 2

I haven't, but thank you. Okay, you're welcome.

Speaker 1

Let's start with Micron shares down four point four percent today, down for a third day in a row after the company last week reported capex for the year that was higher than analysts wanted to see, down more than thirteen and a half percent since those highs just after reporting last week. Also, want to talk about shares of fives, they're kind of hovering lower by about seven tents of

one percent for much of the session. That's where it finished this after the company said it it's experiment and a lime vaccine was only seventy three percent effective against lime disease. It's a lackluster result as fewer than expected infections in the Pivotal study made its potency hard to evaluate. There's currently no human vaccine for lime disease on the market.

Also late in trading, we saw Fico fair Isaac Corp shares and take a hit today, this after Politico reported that the company is being queried by Senator Josh Holly for its mortgage credit scoring. Look at this down five point seven percent. Political reported on a letter that Center Holly sent to FICO that said, quote, these price increases are most damaging to the Americans who can least afford them. First time home buyer is very disproportionate burden of the cost.

Once again, Fyco shares following by five point seven percent and a late ad big thank you to the controller for throwing this one up. There. Esta latter company shares laid in the session down seven point seven percent. Amazing, this is wild. The Ft reported the companies nearing a deal to combine with Quig Brands It's a Span beauty firm. The transaction could be announced as soon as Monday, according

to the newspapers cited people familiar with the matter. Estay a lot of shares down seven point seven percent today.

Speaker 2

The Stockmover's 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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