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Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis. Winding down earning season, but a lot of names to get to. Starting with open Door. Pretty big bid on this stock after earning Stan Good morning, Good.
Morning, Nathan. That's right open Door ticker Ope, and those shares are up nearly twenty percent in pre market right now. That's us the online real estate marketplace show signs of a turnaround. It's fourth quarter sales were above estimates, the loss was smaller than estimates, so investors really piling that
into that this morning. Just to take a step back and look at the stock in the context of the longer term perspective, those the shares, they're trading at five point fifty this morning, five dollars and fifty cents this morning. There are thirty five dollars a share five years ago. So this is a comeback story. This twenty percent pop is after a ninety percent draw down. So when I
talk about turnaround. We are talking about a turnaround. So analysts coming away saying the signs of the turnaround are taking hold, and the company has been using technology to implement that. Companies highlighting that used to take eleven people to close a contract on a home that can now be down to one. And in the last week of the year, the company's signed more than five hundred acquisition contracts.
That's double the rate of the previous quarter. Why this matters, the company is not immune to the five to ten percent national home price declines. So the faster the company can move houses, the less balance sheet risks they have, and also the more money they can make on flip in the houses. So Open Door technology good signs in the morning up eighteen percent.
Right now, we got a flip side this morning from Neumont. You'd think their earnings would have looked better given what we've seen in the gold market lately.
Yeah, it's really funny. It's kind of the side of the other coin. Right, So housing prices have been down, but Open Doors doing well. Newmont gold prices have been up, but the company itself isn't doing well.
Well.
If you don't know, it's the world's biggest gold miner. It is the fourth quarter top and bottom lines were greater than estimates, so that is off the back of that strong gold. But those shares are now down three percent in pre market, and that's because Newmont says that output this year will fall ten percent, which is about five point three million ounces of gold this year, so it's not going to be able to capitalize on those
high gold prices as much. The output drop is because of planned upgrades at some mines and lower productions at two Minds jointly owned with Barrack casting a level of shade at Barrack. They're not super happy about that production down. That said, fourth quarter was strong and generated record earnings and free cash flow for the period.
Moving from mining to drilling, disappointing results as well for Transocean.
That's right tick our rig Rag. Transocean shares are down three percent in the pre market as the offshore oil drilling specialist did it beat fourth quarter revenue, but operating costs were higher than expected and push earnings per share below what analysts were expecting, so that's weighing on the shares of the morning. The first quarter guidance of a billion dollars in revenue was greater than estimates. It also indicates that top line for the whole year will be strong,
but we're still awaiting some details. This company reported in the evening for their conference call is at nine o'clock this morning New York Times, so definitely wanted to keep an eye on throughout the trading day.
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