1
00:00:02,520 --> 00:00:07,000
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:08,560 --> 00:00:12,440
Speaker 2: The Stock Movers report your roundup of companies making moves

3
00:00:12,480 --> 00:00:16,280
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

4
00:00:16,680 --> 00:00:19,160
Speaker 3: I'm Tim Stenebeck along with Carol Masser. Let's take a

5
00:00:19,200 --> 00:00:21,600
Speaker 3: look at some stocks on the move. We are joined

6
00:00:21,600 --> 00:00:25,960
Speaker 3: by Nora Melinda. She has Bloomberg TV Markets correspondent Nour

7
00:00:26,720 --> 00:00:28,319
Speaker 3: a lot to choose from, although we did see some

8
00:00:28,360 --> 00:00:29,320
Speaker 3: buying late in the session.

9
00:00:29,440 --> 00:00:31,159
Speaker 4: We did see some buying late in the session, But

10
00:00:31,440 --> 00:00:33,360
Speaker 4: one of the names that actually ended up down at

11
00:00:33,360 --> 00:00:37,480
Speaker 4: the closing bell was Campbell's. Take our CPB down about

12
00:00:37,520 --> 00:00:39,880
Speaker 4: seven percent. This is the lowest level that we saw

13
00:00:39,920 --> 00:00:42,960
Speaker 4: for the stock in twenty three years, this after it

14
00:00:43,000 --> 00:00:46,240
Speaker 4: cut its profit outlook, we know that they're essentially talking

15
00:00:46,280 --> 00:00:49,199
Speaker 4: about consumers not really buying pretzels and chips.

16
00:00:49,280 --> 00:00:52,120
Speaker 5: I used to love their chickennittle soup.

17
00:00:52,120 --> 00:00:54,720
Speaker 3: But everybody used to love her chicken forever and.

18
00:00:54,760 --> 00:00:57,680
Speaker 5: Needed sometimes today. But I don't make a homemade soup

19
00:00:57,800 --> 00:00:58,760
Speaker 5: or my husband.

20
00:00:58,920 --> 00:01:01,440
Speaker 4: You might go a goat to I just like the chickens.

21
00:01:01,840 --> 00:01:05,520
Speaker 3: I think a lot of people grew up eating that, right. Yeah,

22
00:01:05,560 --> 00:01:08,200
Speaker 3: and maybe consumer preferences changed I.

23
00:01:08,200 --> 00:01:10,640
Speaker 4: Think essentially, because I do remember when I used to

24
00:01:10,640 --> 00:01:12,679
Speaker 4: eat that I switched over to progress, So I believe

25
00:01:12,680 --> 00:01:15,040
Speaker 4: because they had like a lower sodium alternative.

26
00:01:15,160 --> 00:01:16,840
Speaker 5: I do look at the sodium, so some people.

27
00:01:16,640 --> 00:01:19,479
Speaker 4: Looking at the health elements as well. But it does

28
00:01:19,520 --> 00:01:21,840
Speaker 4: seem as though, sorry to me, just holding up.

29
00:01:22,760 --> 00:01:25,000
Speaker 5: We all remember that having the flu, sitting on the

30
00:01:25,000 --> 00:01:27,560
Speaker 5: couch and you're like, there's some gimbo and I have

31
00:01:27,640 --> 00:01:29,560
Speaker 5: some fleas anyway.

32
00:01:29,200 --> 00:01:30,800
Speaker 3: Now, and now your husband makes you the soup.

33
00:01:30,880 --> 00:01:33,200
Speaker 5: Yeah, and I see, Larry go to be fair, my

34
00:01:33,280 --> 00:01:35,000
Speaker 5: mom made a lot of homemade soup. But every once

35
00:01:35,040 --> 00:01:37,320
Speaker 5: in a while it was like, okay, a nice somebody

36
00:01:37,319 --> 00:01:38,880
Speaker 5: got sick all of a sudden, and you know, you

37
00:01:38,920 --> 00:01:40,360
Speaker 5: just had to take a can of soup. So they're

38
00:01:40,400 --> 00:01:41,080
Speaker 5: having problems.

39
00:01:41,120 --> 00:01:43,160
Speaker 4: They are having problems. One of the names that wasn't

40
00:01:43,160 --> 00:01:46,279
Speaker 4: having a problem today say Sable Offshore. This is Sticker

41
00:01:46,400 --> 00:01:49,880
Speaker 4: sc the stock surging and p about fifteen percent on

42
00:01:49,920 --> 00:01:52,600
Speaker 4: the day, the highest level since October. This is, of course,

43
00:01:52,600 --> 00:01:55,440
Speaker 4: after a Bloomberg exclusive reporting that Trump is preparing to

44
00:01:55,520 --> 00:01:58,800
Speaker 4: invoke Cold War era powers to pave the way for

45
00:01:58,920 --> 00:02:02,920
Speaker 4: renewed oil production off the southern California coast. So this

46
00:02:02,960 --> 00:02:05,880
Speaker 4: will be using the Defense Production Act, and essentially Trump

47
00:02:05,960 --> 00:02:08,800
Speaker 4: wants to ease some of the permitting for sable Offshore

48
00:02:09,120 --> 00:02:11,200
Speaker 4: to restart production over there. When we think about the

49
00:02:11,240 --> 00:02:15,360
Speaker 4: cluster of offshore platforms in California, so that really booyed

50
00:02:15,360 --> 00:02:17,320
Speaker 4: the stock hire at the closing bell.

51
00:02:17,760 --> 00:02:20,280
Speaker 3: Yeah, these platforms right off the coast of Santa Barbara.

52
00:02:20,400 --> 00:02:23,200
Speaker 3: So it's a little south of the Central Coast, just

53
00:02:23,240 --> 00:02:26,000
Speaker 3: north of LA And anyone who's driven on the one.

54
00:02:25,919 --> 00:02:27,560
Speaker 5: On one can mom and dad see them.

55
00:02:28,240 --> 00:02:29,880
Speaker 3: Well, if they're driving south, they can see.

56
00:02:30,760 --> 00:02:33,520
Speaker 1: You can't miss these their massive Oh yeah, there's a

57
00:02:33,560 --> 00:02:36,640
Speaker 1: park just out just like right by Santa Barbara where

58
00:02:36,720 --> 00:02:41,440
Speaker 1: if you're driving on the highway there's there's so much oil.

59
00:02:41,280 --> 00:02:43,639
Speaker 3: Activity, is it really oh that yeah? Yeah, And it's

60
00:02:43,680 --> 00:02:46,600
Speaker 3: and the highway goes right through it all right. Sometimes

61
00:02:46,600 --> 00:02:49,919
Speaker 3: at night you can see the flaring too, not offshore,

62
00:02:50,040 --> 00:02:51,880
Speaker 3: on shore, you see the flaring. So you're like driving

63
00:02:51,880 --> 00:02:55,120
Speaker 3: at night and you can see the the flames coming

64
00:02:55,120 --> 00:02:56,800
Speaker 3: from significant landmark.

65
00:02:56,440 --> 00:03:00,639
Speaker 5: There definitely popped into session.

66
00:03:01,520 --> 00:03:04,160
Speaker 4: You gotta say the ticker, I know, favorite ticker. Honestly,

67
00:03:04,200 --> 00:03:04,880
Speaker 4: I loved saying this.

68
00:03:05,120 --> 00:03:08,520
Speaker 5: I couldn't I know, we couldn't get plastic. He was like, w.

69
00:03:10,200 --> 00:03:13,519
Speaker 4: Well, Wolf is the ticker woof the stock down and

70
00:03:13,600 --> 00:03:16,560
Speaker 4: post sorry higher in post market, trading up about twenty

71
00:03:16,680 --> 00:03:19,720
Speaker 4: percent after the closing bell. Is a pretty cheap stock though,

72
00:03:19,760 --> 00:03:21,840
Speaker 4: I mean I'm looking at it's just about two dollars

73
00:03:21,919 --> 00:03:24,079
Speaker 4: at the closing bell today. But this, of course is

74
00:03:24,080 --> 00:03:28,480
Speaker 4: after its forecast annual earnings came in above analyst expectations.

75
00:03:28,480 --> 00:03:31,280
Speaker 4: So this is essentially signaling that consumer pet spending it's

76
00:03:31,280 --> 00:03:33,920
Speaker 4: still remaining durable despite a lot of the uncertainty that

77
00:03:33,960 --> 00:03:37,120
Speaker 4: people had as it relates to the tariff trade. So

78
00:03:37,520 --> 00:03:39,720
Speaker 4: this stock is doing pretty well as it looks like it.

79
00:03:40,440 --> 00:03:43,600
Speaker 5: Yeah, it is so way down. I'm going back. I mean,

80
00:03:43,600 --> 00:03:47,240
Speaker 5: everybody was spending on their pets during COVID, but I

81
00:03:47,280 --> 00:03:50,040
Speaker 5: mean at one point, going back to twenty twenty one,

82
00:03:50,120 --> 00:03:52,640
Speaker 5: early twenty twenty one, right, it was about almost a

83
00:03:52,680 --> 00:03:53,800
Speaker 5: thirty dollars stock.

84
00:03:53,760 --> 00:03:56,480
Speaker 4: I know, and down about eighty nine percent over that

85
00:03:56,520 --> 00:03:57,640
Speaker 4: five year time period.

86
00:03:57,800 --> 00:04:00,800
Speaker 5: All Right, we thank you so much, Melinda. Check out

87
00:04:00,840 --> 00:04:03,400
Speaker 5: our Stockmovers podcast. You can find it on Apple, Spotify,

88
00:04:03,480 --> 00:04:05,160
Speaker 5: or anywhere you get your podcasts.

89
00:04:06,320 --> 00:04:10,560
Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us

90
00:04:10,600 --> 00:04:13,400
Speaker 2: throughout the day for the latest roundup of companies making

91
00:04:13,480 --> 00:04:17,080
Speaker 2: news on Wall Street, and for the latest market moving headlines.

92
00:04:17,279 --> 00:04:21,320
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

93
00:04:21,360 --> 00:04:24,440
Speaker 2: dot com, and on Applecarplay and Android Auto with the

94
00:04:24,440 --> 00:04:25,839
Speaker 2: Bloomberg Business app.