Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data. It's a podcast, Stockmovers Alexis Christophers.
Are you all mag seven today or do you digress?
I digress because we've got a lot of the mags, but we're going to hear a lot about them after the closing bell, So I'm going to start out with robin Hood. Not a great day for the online brokerage. The stock is down about twelve percent. It missed earnings and revenue estimates for the first quarter. The company did raise its twenty twenty six expense guidance. It now says it anticipates investing another one hundred million dollars to build
and support the user interface for those Trump accounts. So Robinhood, along with a Bank of New York Mellon, were tapped to help manage these accounts that have created for children as part of President Trump's One Big, Beautiful Bill Act. Robin Hood is also serving as the brokerage and initial trustee for that. But in addition, earnings actually beat the street at robin Hood because it made a bigger push into the prediction markets, and apparently that is doing quite well for Robinhood overall.
I mean, interrupt, this is a big deal. What does prediction markets mean?
Is that just like saying Betty, I think.
Yes, no, I asked questions, you know, should be above seventy two degrees today?
Yes?
No? Is it different than gambling? Well, that's the that's the question that certain states say it is not.
You know.
So next, all.
Right, Avis, have you been fought? We haven't really talked about this, but it's one of the most shorted stocks of the year. Uh parsipany New Jersey based Paul company. So shares of Avis Budget Group falling here sharply after the car rental company reported deeper losses than expected in the first quarter, and it continues to deal with the aftermath of this bizarre short squeeze where we saw the
stock plummet seventy percent in just two days. So we've been seeing this stock sort of on a sugar high. It experienced that earlier this month, and now the stock has really been been plummeting. And also remember it's behind brands like Zip Car and Budget Truck Rentals, so it's not just Avis, we go to surveillance car rental correspondent Paul Sweeney or every time I go, I think I'm getting taken to the cleaners?
Do you find car rentals like fair? I'm a Hurtz person and they take care of me pretty well. But you look at the bill, and like a hotel bill, it's got twenty seven different exs on there and fees and this and that, and I don't get So I was asked, like, how does Florida not have a staate income tax? Because they go look at your bill the next time you check out a hotel in Florida. Really, that's how they get you.
Yeah, they's supposed to be more transparency. Wasn't there a legislation transparent? Do you do you like just taking an uber more?
I do? I do? But then I took the when I was last house in Santa Clair, I took the what is it the waymoth thing?
Oh no, driver's scary.
Yeah, went to the in and out burger and back. So that's how how California is that California? Yeah, that's how they roll out. And I wasn't dealing one. Do you want to squeeze in one more?
Yeah? Let's do. Adidas reporting upbeat first quarter results. Look, it's getting a big, big help here from the World Cup, right, which is starting June eleven sponsors men's national teams, including the defending champs Argentina Spain. So also it's just it's running shoes are doing well, it's training products are doing well.
Posted double digit growth in every market except Europe. The stronger euro posed a bit of a challenge there, and of course they're also dealing with the terraffs, the US tariffs. But those fashion oriented, they were the retro sneakers. I know my kids were all around them. The samba. There's no one that doesn't.
Do you have a pair. I after thought, I got a pair of the Congress.
You're gonna get your pair of sambas. Yeah, I'm very embarrassed, but maybe maybe.
It'll worry The 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.