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Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
All right, back with us to take a look at some of the stocks on the move. I'm Carol Masser along with Tim Stenwick. Let's get to stocks on the move. Bloomberg News Equities reporter Alex Sevanova back here in studio. You want to talk about Tesla. What's going on with Tesla?
Yeah, so Tesla rallied into the close up three point nine percent today. This is after Elon Musk got an invite from the White House to join a trip to China. He is going to be alongside executives from Apple, from Goldman Sachs, from Boeing. And this is really a sign that the relationship between President Trump and Elon Musk has been repaired since last year. They obviously had a pretty nasty fallout if you guys were.
Perhaps black us.
Thank yeah, thanks got a little bess. There was apparently some fighting.
Yeah. You know what's so interesting is that Tesla has a really notable history in China. They were the first company and I think still the only company that were able to build a factory without doing a joint venture traditionally.
Yep.
If you're an American automaker and you want to you know, you want to do sell cars in China, you got to team up with a company on the ground in China to actually do that. Elon somehow pulled off. Yeah, doing this without any you know, any fast.
Yes, I did it fast, which is unheard of.
So you're right, sense to have him there during these discussions.
Agreed, Agreed, Mosaic. Let's talk about this fertilizer, right.
Yeah, I've been learning a lot about fertilizer lately. It has been going up in price given the Iran war, and so this is a fertilizer producer. You would think that given the increase in prices, you would get a nice bump in revenue for the company, but actually all of the bottlenecks from the closure of the Strait of
Horror moves have hurt. The company reported today a three hundred and seventy three million dollar operating loss, also reporting adjusted earnings for sure that came in well below analyst estimates. This is because of surge and costs from other materials like sulfur ammonia and sulfuric asset that kind of offset some of the potential gains that could have gotten from the higher fertilizer.
Okay, and very briefly Barrick Mining.
Yeah, so this company is going to issue a big share buyback. It pledged to repurchase as much as three billion dollars worth of shares before it spins off its North American assets for an IPO. This also comes after a historic run in goals, so that helps a lot. Shares were up nine percent today. Td cowan analyst, said that the new authorized three billion dollar buy back gives incremental support ahead of its planned IPO in North America.
The Stock Mover'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. Mm hmm