Bloomberg播客复盘三只金融股Q3财报后盘中大跌：BAC、STT、PGR均跌8.5%–9.4%

【播客逐字稿全集 · Bloomberg Stock Movers】
单集:Bank of America Drops, State Street Slips, Progressive Drops on Weaker Than Expected 3Q Results
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Speaker 1: Bloomberg Audio Studios. Podcasts.
Speaker 2: Radio.
Speaker 3: News.
Speaker 1: The Stock Movers Report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data.
Speaker 2: We want to get a check of some stocks on the move.
Speaker 3: Three stocks on the radar, Scarlett, and the three worst performers in the S & P 500, but we'll go in a little bit of a weird order. So the second worst performer in the S & P 500 is none other than Bank of America, ticker BAC, right now down 8.5%. Largest drop since April 4th of last year. This came partly driven by weaker than expected trading, but also the announcement that U.S. regulators fined the company more than $ 1. 2 billion for money laundering and sanctions violations. Analysts really across the street calling it a lighter than expected quarter. Baird really standing out, saying that the stock would continue to trade lower on softer fee results and that regulatory fine. Interesting timing there. or this came out late yesterday evening. So stock was starting in the red. And then really, as investors started to digest that print, it continued to drift lower.
Speaker 1: All right, Bailey, what's next? Is it the worst performing stock?
Speaker 3: It is not the worst performing stock.
Speaker 1: They're kind of jockeying.
Speaker 3: So Bank of America down 8.5%, State Street down 8.7% at this exact moment, ticker STT. So that's the largest drop for the company at its lows. was the largest since 2023. This came after the company reported revenue that fell short of what Wall Street was looking for. They also disclosed an unexpected $ 62 billion cash outflow in the third quarter, which was well below what Wall Street analysts were expecting, more than $ 10 billion in cash inflow. So you want to see more money in than going out. So we did see State Street again. We are looking at a financial group that is down pretty sharply, that BKX down about 15% from a mid-August high.
Speaker 2: Yeah, so more than a correction now. Yes, well, bear market is more than a.
Speaker 3: Correction, but I think 20% is the bear market line where we draw. I'm sure my team will send a hot headline, Scarlett and I'll be like, no longer correction. Now we're officially in a bear market. And then I'll close up like 2% and then we'll be like actually just.
Speaker 2: Just kidding.
Speaker 1: Just kidding.
Speaker 3: Very close.
Speaker 2: Thank you for that clarification. You have a trifecta of financial stocks, so the last one is also financial.
Speaker 3: The worst performer in the S & P 500 by almost one percentage point is progressive ticker PGR, down 9.4% right now. trading at the lowest level in a few weeks, but that's the biggest drop since mid-July. This came after the company's net premiums earned for the third quarter were modestly below what Wall Street was looking for, and also net premiums written rising 4.3% year over year, but falling just shy of what analysts were looking for. This, again, is a stock in kind of an entire industry that we've been keeping a close eye on. How does kind of the advent of or the use of Claude and things like Muse impact the underlying business? Again, a bit early to see how that could be impacting it. Progressive right now, down 9.4%. If you look at the stock on a 12 month chart, kind of looks a little bit like an EKG. So ups and downs pretty sharp.
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