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Billy Lipschultz is in our Bloomberg Studios here in New York, senior Equities reporter, and you've got your eye on some market drivers today. Workday, I guess is on your radar.
Yeah. JT mentioned is starting with work Day taker wday. Right now, shares are up more than eight percent. This coming a bit of news, kind of a burst of news. So not only did they have a strong analyst day that drew at least two upgrades from south Side Analysts to Elliott Investment Management came out saying they're one of the largest shareholders in the company, really applauding that they've made progress, talking up the advancement and enhancement of the
company's operating model and capital allocation framework. Board also authorize the repurchase of up to an additional four billion dollars of stock. Analysts basically saying that the forecast that they called out signaling strong profitability, there is still that elephant in the room AI how that impacts sales in subscriptions, which seem to be slowing, but nonetheless a big move higher for work day, still down about eight percent so far this year. When I get my car share, I arbitrage.
I go open up my Lyft, open up my Uber, and whatever gives me the best price, since it's the same driver in the same car. Usually in most cases Matt Miller does not do that.
He just goes right to Uber.
Does it because of the credit card points? For final reason, I think it's.
That that would be the impetation of it. I'm not even sure you just made it that far. Boy, they're having a good date today. What's going on?
Yeah? Seeing a big move in shares of Lyft ticker Lyft after the company's name, up more than twelve percent. This coming after unveiling plans with Waimo, the Alphabet owned driverless car technology company, to unveil and offer robo taxi service in Nashville starting next year. Big fan of Nashville, sure if you've been. This will start through the Weimo app early next year and ultimately spread to the Lift app.
So the next time you're down listening to some country music, you can hop it in a Nashville is.
The bachelorette party capital of the world.
Is it really?
Yes, it's like surplants surpassing VAKED. I don't know how they do it.
They call it Nash Vegas these days. I was there for Labor Day, okay, so but they call it Vegas, all right, But that's sending. Also, shares of Uber ticker ub er down more than five percent. I'll tell you the stock for Lift is up seventy eight seventy five percent year to date. So maybe the market saying okay, maybe this drivers are partnering strategy is a good one, and this is a company that's still trading now at the highest level since twenty twenty two, but really pales
in comparison to the return for Uber. And I want to cap off with Nvidia quickly, stock down almost three percent, one of the big drags in the SP five hundred today. This coming whether it's to sell the news event or being pointed to the ft reporting that the China's Internet regulator has advised companies including by Dance and Ali Baba to terminate their testing and orders of the RTX pro
six thousand D so that's one of their chips. So in Nvidia down about two point seventy five percent right now, tick Er MVDA one of the big drags in the S and P five.
Hundred and in just a few minutes we're going to have a StubHub CEO Eric Baker. He's going to speak with Bloomberg Tech anchors at Ludlow and Caroline Hyde and I would love to get your thoughts though, Bailly, on StubHub going public today, we're still waiting for it to begin trading. I guess I tried to go public a few times, right, all right, so finally here we are. But the valuation, I think half of what it had thought it might be valued at when it was first thinking about going public.
Yeah, this is a deal that raised eight hundred million dollars, and we had been hearing from people familiar even just a few weeks ago, that they thought this would be north of a billion dollars and that their valuation could be closer to that thirteen fourteen billion dollar bogie as opposed to about eight point six billion at that IPO price. But this has been a slog for the company. Obviously.
We saw one of the busiest weeks in quite some time last week with Klarna and others going public, but Stephub when I talked to investors, it's a different beast and that was a big part of this conver station and my colleague just putting out right now that they tightly allocated this deal the top investors. You've been trying to position this company and set it up to succeed, but again where it priced versus where investors might have
thought it would price. Different dynamics than we saw with some of the hotter IPOs last week and even going back into the summer like a Figma and some others. So we've had it.
I mean, it seems like the last certainly since in Labor day. This IPM market's picking up.
I know you don't.
That's not your remit these days of the ip of market, you're broader equities. But how's the calendar look for the remainder of the year. Continue to be busy for the next month or so.
It's interesting, Paul. So last week was the busiest I'll call it the busiest based on size. We kind of have some ESPN type stats for that, but busiest week since twenty twenty one. We have a pretty busy week this week with stup hup today Netscope price tonight and trade tomorrow. That's a cybersecurity company, but it kind of falls off. I was meeting with an advisor this morning who was basically saying, it kind of looks like a rocket ship and then right now we're dealing with that
return to gravity. Calendar is at play. But nonetheless, when you are seeing some of these deals printing, should be interesting to see post fed what companies flip and what the calendar stacks up like for October, which should be a pretty big window. I mean, having been in this game for many years, the IPO game, the New Issue, which game, I got a lot of things that behind me in my back. I got a markets at in near all time highs. I've had a bunch of deals
that are priced and priced well and traded. It is sixteen, mixes is sixteen. I mean, if you can't get a deal out today, kids, what are you waiting for? So it seems like I'm surprised we haven't seen more, but I've been saying that for a while here.
But anyway, the ones that are coming out into the marketplace are trading well, so people that should What that typically does is stoke more demand from the buyside for more stuff.
But we have seen kind of a mixed performance, and I do want to call out a Gemini space station, the Winklevoss Twins company. It broke issue today. It's down nine percent. So for every you know figure, they're bloxching Helock company. For every company that's up you know, fifty sixty percent, we have a few that are either a breaking issue or close to that IPO price. So a bit mixed.
The Stockmovers 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.