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The 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 Tim Stenovik with Carroll Master. We are joined by Bloomberg News Credit reporter Emily Graffeo Hamley. Hello, how are you. I'm good good, Welcome to Stock's on the Move on Bloomberg Business Week Daily.
Thank you.
This is my first time, no now you longtime guest, very frequent co anchor as well, and we always appreciate it when you take time away.
From the credit dusk individual to hang out with us.
Okay, so we're going to talk about a stock, but I'm also going to sneak in a credit angle.
Yes, there we go.
SpaceX ticker SPCX ending the day about one percent higher. It was a very choppy trading session for the stock goes up, it was down, but nevertheless a three day sell off that wiped more than six hundred billion dollars from the company over the last three days. Today, you know, ending the day up one percent. They came to the bond market today, which was very exciting for my neck of the woods. They raised twenty five billion dollars of bonds.
They were rated investment grade, which is pretty good for I don't want to call them a startup because they're so big, but like, it's kind of rare to see a company like SpaceX get this investment grade rating. They're like blowing through cash and now suddenly this rating means that they have a lower cost of capital. They can essentially tap into this very deep pool of liquidity and borrow money from all different kinds of people for not very much cost.
Do we know a long sort of the curve or like how demand looked for different maturities.
We do. There was actually a lot of demand for these shorter dated bonds, which is interesting because it could signal investors not really wanting to throw their support behind any long term goals for SpaceX. Maybe they're a little bit uncertain about what this company is going to do in ten twenty thirty years. They don't want to tie their money up for that long. So actually this deal had most of the demand at the front end, which is actually kind of rare for that market.
How much was well, how much was shorter duration?
I don't have it in sorry, but it okay, we're going to put it up.
But it is an interesting element, right it and gets into the psyche of front of four.
Billion in the five year and then if there was only nine point four billion at this thirty.
Year, so the majority was shorter in sixteen and a.
Half billion, seven year, fifteen and a half at ten year. You know, it's interesting. One of our audience members got in touch and said, the way that he looks at this is it's a challenge to value SpaceX out thirty years because of so much disruption, Like it feels like in this environment every three months things get shaken up, which I thought was a Really that's one view. The other view is, wait a second, we have no idea what this thing is going to look like.
In thirty years.
I mean they still raise the money. Yeah, they got it done.
So investors were there and they're there.
Yeah, I heard like, it wasn't it wasn't amazing. It wasn't a blowout, but it wasn't a disaster. They got it done. You know, the demand was okay, and now they have the money.
Because it's Elon and the potential for outperformance or you know, who knows where this goes is always there. It's an element of upside surprise, but also questions.
I have another like Moonshoddy, science fiction sounding stock, quantin quantinum continuum, continuum. I don't know the ticker. I can pronounce Q and T. It was at thirteen percent today. There were a number of quantum computing stocks higher. President Trump on Monday signed executive orders aimed at boosting the sector, so quantum stocks were hired. This was a day when most tech stocks were actually selling off, but this was a bright spot. Investors really like quantum computing. I guess
they see the promise in it. I wish I could explain how it works, but the idea here. At least according to Wedbush's Matt Bryson, the government appears to be tailoring policy to support earlier investments. They expect that these technology development objectives are going to drive near to midterm revenue across the quantum ecosystem, so those stocks getting a boost.
Quantum computing works by using quantum bits are qubits, are quibits. Basically, I think there's a lot of computations that I think are happening at the same time, and that's why it makes it super powerful, and things can be explained anyway. To be continued. I'm just gonna say, all right, what do you got for the third stock? Right?
Last stock? Carnival Cruises ticker cc.
Not a quantum competing.
S not quantum, not a rocket ship company. The stock leading cruise stocks lower. They gave a week third quarter outlook, the stock ending the day down about five percent. Again that ticker CCL for Carnival.
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.