Cooper Sinks, Freeport-McMoRan Drops, Oracle Struggles With Debt

0:00brought to you by Apple Card. Apply for Apple Card and earn daily cash back on back-to-school purchases, including 3% back on everything at Apple. Subject to credit approval, Apple Card is issued by Goldman Sachs Bank USA Salt Lake City Branch, termsinmoreatappalcard.com. 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. I'm Jim Stenevek along with Carol Maser. Let's take a look at some stocks on the move today. We are joined by Bloomberg News US Equity's reporter and deputy team leader, Jess Menton. She's going to Jess Splain some stocks to ask. I like that. I like Jess Slamming. What do you talk? You're at the Cooper companies on your list today. Well, I mean, this is fun. I like the, I feel like I'm about to call a big game on the sideline and talk to these people. He said that's, I love what you all took at Shies. I'm getting a lot of feedback. I don't know the people there. He's like, it's a good thing. I'm getting a lot of feedback from people

1:00about the heads to heads. No, I love it. But looking at, of course, you're talking about Cooper companies, the ticker is COO. So this is the worst declineer in the S&P 500 today. I don't have the live price in your front of you because I don't have the terminal. What I'm lasting. All right, so that'd be on pace for its worst days since May 2025. So I made a little bit of a note that this is in the MedTech space. If you look overall in healthcare today, then that's one of the pressures that we've seen specifically in the medical devices. So there's a couple things that's weighing on this stock. And the first part is its forecast for, it's just fiscal year was adjusted EPS as well as revenue came in below expectations. Some of that had to do with the vision side of things as far as that unit. But then another part of that, there had been a strategic review. And they were thinking about potentially spending off this surgical unit side of it that didn't happen. So that's unfortunately why you're seeing that stock pressured right now because there was the anticipation that maybe there could be more synergies. Right. When you're talking about kind of the the Ebene type space there, one way and then right, I don't. And then also healthcare because the weightings

2:02only about 9% and the S&P 500. So tech, for instance, I mean, that's closer for 40% weighting. So even though this is the worst performer overall in the S&P 500 when you're thinking about not just an industry group for this specific stock, that's why you're still seeing the S&P 500 not really down as much as you'd expect because it's housed in a different type of industry group and the weightings are just much smaller than say whenever we had to want to talk about the bags of it and some of these other groups. And I know those are on your list. I know. I might find a way though to thread it in there for you at the end. All right. Let's get it report in that. Yes. So FCX is the ticker. When I last checked it was down around 7% on pace for two more stays in June 5th. And June 5th was what we had. There was a jobs report that day. And it was stronger than expected. So there was a big sell off more broadly. But this stock is actually up almost 40% year to date. But what happened here? Worders actually ended up reporting that the White House has not yet made a decision on refined copper tariffs. So it's kind of weighing those types of concerns. What's interesting is just the movement that you're seeing in the copper miners, not just free port macro in, but also some of its other peers, Southern copper,

3:05tech resources, arrow copper, capstone copper, as well seeing that pressured. But then RPCs, some strategies over there we're talking about because just copper in general, as far as like how that ties to the global economy. I mean, that's trading just around records right now. So that could potentially bring that a little bit down. So that's something you like to watch as far as like what that goes into so many different products. So you have kind of a double-edged sword there as far as like, what does it mean for these stock prices, but then overall because the copper's doing well, that's a good sign for the global economy. Yeah, exactly, right? Because you're assuming there's a lot of demand out there and moving along. We do have one big tech name, Oracle. Yeah, we've got 20 seconds left. We're on our board. Or on our C.L. So down to about 4%. So this is what you want to watch. Just the options positioning is higher, more than a 10% swing in either direction, potentially when our reports after the bell. Another AI story too. So for Tim, talking about AI. 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,

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