Crypto Stocks End Day Higher; Amazon Drops - podcast episode cover

Crypto Stocks End Day Higher; Amazon Drops

Feb 06, 20265 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, Carol Massar and Tim Stenovec.

  • Robinhood (HOOD) and Strategy (MSTR) shares rose as the price of cryptocurrencies broadly rebounded. Robinhood generates a significant portion of its revenue from crypto trading. Bitcoin surged the most in almost three years to recoup almost all of the losses registered during Thursday’s crypto market meltdown that had dragged the token down more than 50% from its October peak.
  • Under Armour (UA) shares ended the day higher after the athletic apparel and footwear company surprised investors with a quarter profit. Revenue were also slightly above the consensus estimate. Management boosted its adjusted EPS estimate. 
  • Amazon (AMZN) ended the day lower. Shares posted at 12% weekly decline, the most since 2022, after the e-commerce and cloud-computing company’s much higher-than-expected $200 billion annual capital spending forecast underlined concerns on how much big tech companies are spending on AI-related investments and when they will pay off.
  • Molina Healthcare (MOH) shares plunged after the health insurer forecast 2026 profit that was less than half of Wall Street’s expectations, on higher medical costs and insufficient government repayments.
  • Homebuilders (S5HOME Index) declined Friday on the news Trump administration officials are exploring opening an antitrust investigation into US homebuilders as the White House sharpens its focus on tackling the country’s housing affordability crisis.

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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio news.

Speaker 2

This is the closing bell on the stock mover's report the company's making moves at the close of US trading with Carol Masser, Tim Stenoveeck Romain Bostik, and Katie Greifel.

Speaker 3

All right, let me get you some of the individual gainers. There was a lot to choose from. I'm going to start with Robinhood, number one gainer in the s and P five hundred. Everybody finishing the day just sh I have a fourteen percent gain, of course, closely tied to

the crypto market, and it can buy crypto on the platform. Sure, so shares surging as we saw, kind of anything to do with the crypto trade really bouncing back today and I ship point and this is even you know, late yesterday after the close, Robinhood their market price target was cut to one thirty a share from one fifty five by Truest Securities, still bullish on the fintech company despite the weaker cryptocurrency market backup. I wonder if you like

it doesn't like that call. I don't know, but anyway, he made that call, and we did see Robin Hood certainly an now performer in today's session, let's go on over to strategy. Really some outperformance there as well. That company app pretty much closing at its highs of the session up twenty six percent. The Bitcoin Treasury Company reported a twelve point four billion dollar fourth quarter net loss, driven by that decline that we've seen in the crypto prices.

Als do expect the company can withstand further downturn due to its cash reserve. So that was good, and so again that crypto trade impacting this one. Michael Saylor also of the company, saying that the margin calls are no margin calls I should say on the company. So some optimism there, and then thank you Tim for this one. Under Armor UA is the ticker, finishing two at its highs of the session more than nineteen percent. This tack is up about fifty percent year to date. Twenty percent,

though of the float is short. The company surprised investors with a quarterly profit revenue also slightly above the consensus estimate, and management boost it's adjusted EPs estimate. So some outperformance. There's a lot I could have done, so remain do not add to the list.

Speaker 1

Hey, pop quiz, what was the best performing large cap stock this week? Oh my god, momentum light up forty one percent year. Of course off the back of those earnings that it had the other day. Nice, I'm not adding, just adding context, because you know what, Carol Masser, what context changes every day? It totally does, totally.

Speaker 4

I was saying that, how about some decliners for some context on stocks that move the other way? Look at we got to start with Amazon down five point six percent today. This is after the company now it's plans to spend two hundred billion dollars this year on data centers, chips, and other equipment. Andy Jasse is bullish. He says it's going to go toward the company's aws. Most of that spending will be for AI workloads. Shares felt earlier by as much as ten percent, but pared those losses to

close down to a five point six percent. The worst performer on a percentage basis in the S and P five hundred Millina Healthcare share is just crumbled today. This after the company forecasts twenty twenty six profit that was less than half of what Wall Street expected. This due to hire medical costs, insufficient government repayments, lost more than a quarter of its market cap. Today, it's pulling out of the federal government's Medicare Advantage Part D program for

twenty twenty seven. It expects it's Obamacare enrollment and total premium revenue to drop by more than fifty percent this year. And finally, Stillantis the worst day ever for this company. Shares fell by twenty four percent. The company's CEO and Tonio Fillis.

Speaker 1

Then you told people what still Antis is, because yeah, oh, probably this worse rebranding exercise. The maker of Jeep ch Chrysler, Chrysler everyone knows, but still Antis. Go ahead, Yeah, so Stilantis, it's it's my BBO column.

Speaker 3

For Okay, I always think praying Mantis. I think it's like a bug.

Speaker 4

Okay, whatever, whatever, you guys need to remember it. But it's been a public company since going back to twenty fourteen, and it's i mean, the same problem that some of the other large auto manufacturers had when it comes to EV's twenty two point two billion euros in charge, as much of we're linked to unwinding Carlos Tavaris's bets on

EV's that were destined to be unprofitable. Carlos Tavarus has been out of the company for more than a year, and they're still working to unwind some of those bets once Againstlantis, the maker of jeep, Yeah, Chrysler and more, falling by close to twenty four percent.

Speaker 1

And I'll just add too, I just want to point out software socks did rebound on the day, but still down for a fourth string week. All of the big names here are still sliding on a weekly basis, including Oracle and the like. Let's take a look, quick look here what's been going on in the debt markets. We saw yields actually drop or excuse me rise on the day, up about four basis points on the shorter end of the curve, a little bit less on the longer end

of the curve. But we should point out on a weekly basis it was still to the downside all across the curve. In factor relatively a parallel moved down here, So keep an eye on that. That's going to be a big part of the story, particularly as we get into next month and some of the freshen up economic data.

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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