Stock Movers

On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Griefeld, Carol Massar and Tim Stenovec
- Shares of SpaceX (SPCX) climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s business empire into one of the most-valuable public companies in the world.The stock climbed as high as $176.52, or 31% above its offering price, in afternoon trading in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.
- Roku (ROKU) is in talks to sell itself, with discussions being held with at least one US media company about a potential combination. No final decisions have been made on a potential sale, and there's no certainty the deliberations will lead to a transaction. Roku's shares rose as much as 24% in New York trading Friday, giving the company a market value of more than $21 billion.
- SpaceX’s initial public offering triggered a selloff in the shares of other rocket, satellite and space-related companies. Shares of companies like Rocket Lab Corp., Redwire Corp., and Virgin Galactic Holdings Inc. declined, with some falling as much as 13%, 14%, 16%, 17%, 20%, and 38%.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers, we look at some of the week's biggest gainers and decliners:
Shares of SpaceX (SPCX) climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s business empire into one of the most-valuable public companies in the world. Space Exploration Technologies Corp., as it is officially known, bundles a rocket launching business, the Starlink broadband service and xAI, the AI segment. But much of the excitement about SpaceX — and its lofty valuation — stems from investors’ faith in Musk’s ability to pull off highly speculative ventures like placing data centers in orbit or colonizing space.
EchoStar (SATS) and AST SpaceMobile (ASTS) as well as shares of other rocket, satellite and space-related companies declined as investors raced to invest in SpaceX. Procure Space ETF, a fund with a market value of about $1 billion that had gained about 38% so far this year, slid as much as 7.9%.
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Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.
The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.
For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with:
Yahaira Anand, Bloomberg Television Reporter
Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage
Ed Ludlow, Bloomberg Tech co-host
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On this episode of Stock Movers:
-Adobe (ADBE) shares fall. The company said its chief financial officer would depart, leaving a leadership vacuum following the CEO's announced resignation. Chief Financial Officer Dan Durn is exiting his post to join Marvell Technology Inc., and Steve Day will serve as interim CFO until a successor is hired.
-Lennar (LEN) shares dipped after the homebuilder forecast deliveries for the third quarter; the guidance missed the average analyst estimate. Analysts note a challenging backdrop of high mortgage rates and geopolitical uncertainty.
-Medline (MDLN) shares slip as analysts note a short-term financial impact on the medical supplier from a fire at a distribution facility on Thursday.
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On this episode of Stock Movers:
-CoreWeave (CRWV) shares gain after Nasdaq said they’re among five companies that will join the Nasdaq 100 Index, effective prior to market open on June 22nd.
-Lennar (LEN) shares drop after the homebuilder forecast deliveries for the third quarter; the guidance missed the average analyst estimate. Analysts note a challenging backdrop of high mortgage rates and geopolitical uncertainty.
-Adobe (ADBE) shares fall. The company said its chief financial officer would depart, leaving a leadership vacuum following the CEO's announced resignation. Chief Financial Officer Dan Durn is exiting his post to join Marvell Technology Inc., and Steve Day will serve as interim CFO until a successor is hired.
See omnystudio.com/listener for privacy information.