WEBVTT - Campbell's Sinks, Sable Offshore Skyrockets, Petco Surges 

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers report your roundup of companies making moves

0:00:12.480 --> 0:00:16.280
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.680 --> 0:00:19.160
<v Speaker 3>I'm Tim Stenebeck along with Carol Masser. Let's take a

0:00:19.200 --> 0:00:21.600
<v Speaker 3>look at some stocks on the move. We are joined

0:00:21.600 --> 0:00:25.960
<v Speaker 3>by Nora Melinda. She has Bloomberg TV Markets correspondent Nour

0:00:26.720 --> 0:00:28.319
<v Speaker 3>a lot to choose from, although we did see some

0:00:28.360 --> 0:00:29.320
<v Speaker 3>buying late in the session.

0:00:29.440 --> 0:00:31.159
<v Speaker 4>We did see some buying late in the session, But

0:00:31.440 --> 0:00:33.360
<v Speaker 4>one of the names that actually ended up down at

0:00:33.360 --> 0:00:37.480
<v Speaker 4>the closing bell was Campbell's. Take our CPB down about

0:00:37.520 --> 0:00:39.880
<v Speaker 4>seven percent. This is the lowest level that we saw

0:00:39.920 --> 0:00:42.960
<v Speaker 4>for the stock in twenty three years, this after it

0:00:43.000 --> 0:00:46.240
<v Speaker 4>cut its profit outlook, we know that they're essentially talking

0:00:46.280 --> 0:00:49.199
<v Speaker 4>about consumers not really buying pretzels and chips.

0:00:49.280 --> 0:00:52.120
<v Speaker 5>I used to love their chickennittle soup.

0:00:52.120 --> 0:00:54.720
<v Speaker 3>But everybody used to love her chicken forever and.

0:00:54.760 --> 0:00:57.680
<v Speaker 5>Needed sometimes today. But I don't make a homemade soup

0:00:57.800 --> 0:00:58.760
<v Speaker 5>or my husband.

0:00:58.920 --> 0:01:01.440
<v Speaker 4>You might go a goat to I just like the chickens.

0:01:01.840 --> 0:01:05.520
<v Speaker 3>I think a lot of people grew up eating that, right. Yeah,

0:01:05.560 --> 0:01:08.200
<v Speaker 3>and maybe consumer preferences changed I.

0:01:08.200 --> 0:01:10.640
<v Speaker 4>Think essentially, because I do remember when I used to

0:01:10.640 --> 0:01:12.679
<v Speaker 4>eat that I switched over to progress, So I believe

0:01:12.680 --> 0:01:15.040
<v Speaker 4>because they had like a lower sodium alternative.

0:01:15.160 --> 0:01:16.840
<v Speaker 5>I do look at the sodium, so some people.

0:01:16.640 --> 0:01:19.479
<v Speaker 4>Looking at the health elements as well. But it does

0:01:19.520 --> 0:01:21.840
<v Speaker 4>seem as though, sorry to me, just holding up.

0:01:22.760 --> 0:01:25.000
<v Speaker 5>We all remember that having the flu, sitting on the

0:01:25.000 --> 0:01:27.560
<v Speaker 5>couch and you're like, there's some gimbo and I have

0:01:27.640 --> 0:01:29.560
<v Speaker 5>some fleas anyway.

0:01:29.200 --> 0:01:30.800
<v Speaker 3>Now, and now your husband makes you the soup.

0:01:30.880 --> 0:01:33.200
<v Speaker 5>Yeah, and I see, Larry go to be fair, my

0:01:33.280 --> 0:01:35.000
<v Speaker 5>mom made a lot of homemade soup. But every once

0:01:35.040 --> 0:01:37.320
<v Speaker 5>in a while it was like, okay, a nice somebody

0:01:37.319 --> 0:01:38.880
<v Speaker 5>got sick all of a sudden, and you know, you

0:01:38.920 --> 0:01:40.360
<v Speaker 5>just had to take a can of soup. So they're

0:01:40.400 --> 0:01:41.080
<v Speaker 5>having problems.

0:01:41.120 --> 0:01:43.160
<v Speaker 4>They are having problems. One of the names that wasn't

0:01:43.160 --> 0:01:46.279
<v Speaker 4>having a problem today say Sable Offshore. This is Sticker

0:01:46.400 --> 0:01:49.880
<v Speaker 4>sc the stock surging and p about fifteen percent on

0:01:49.920 --> 0:01:52.600
<v Speaker 4>the day, the highest level since October. This is, of course,

0:01:52.600 --> 0:01:55.440
<v Speaker 4>after a Bloomberg exclusive reporting that Trump is preparing to

0:01:55.520 --> 0:01:58.800
<v Speaker 4>invoke Cold War era powers to pave the way for

0:01:58.920 --> 0:02:02.920
<v Speaker 4>renewed oil production off the southern California coast. So this

0:02:02.960 --> 0:02:05.880
<v Speaker 4>will be using the Defense Production Act, and essentially Trump

0:02:05.960 --> 0:02:08.800
<v Speaker 4>wants to ease some of the permitting for sable Offshore

0:02:09.120 --> 0:02:11.200
<v Speaker 4>to restart production over there. When we think about the

0:02:11.240 --> 0:02:15.360
<v Speaker 4>cluster of offshore platforms in California, so that really booyed

0:02:15.360 --> 0:02:17.320
<v Speaker 4>the stock hire at the closing bell.

0:02:17.760 --> 0:02:20.280
<v Speaker 3>Yeah, these platforms right off the coast of Santa Barbara.

0:02:20.400 --> 0:02:23.200
<v Speaker 3>So it's a little south of the Central Coast, just

0:02:23.240 --> 0:02:26.000
<v Speaker 3>north of LA And anyone who's driven on the one.

0:02:25.919 --> 0:02:27.560
<v Speaker 5>On one can mom and dad see them.

0:02:28.240 --> 0:02:29.880
<v Speaker 3>Well, if they're driving south, they can see.

0:02:30.760 --> 0:02:33.520
<v Speaker 1>You can't miss these their massive Oh yeah, there's a

0:02:33.560 --> 0:02:36.640
<v Speaker 1>park just out just like right by Santa Barbara where

0:02:36.720 --> 0:02:41.440
<v Speaker 1>if you're driving on the highway there's there's so much oil.

0:02:41.280 --> 0:02:43.639
<v Speaker 3>Activity, is it really oh that yeah? Yeah, And it's

0:02:43.680 --> 0:02:46.600
<v Speaker 3>and the highway goes right through it all right. Sometimes

0:02:46.600 --> 0:02:49.919
<v Speaker 3>at night you can see the flaring too, not offshore,

0:02:50.040 --> 0:02:51.880
<v Speaker 3>on shore, you see the flaring. So you're like driving

0:02:51.880 --> 0:02:55.120
<v Speaker 3>at night and you can see the the flames coming

0:02:55.120 --> 0:02:56.800
<v Speaker 3>from significant landmark.

0:02:56.440 --> 0:03:00.639
<v Speaker 5>There definitely popped into session.

0:03:01.520 --> 0:03:04.160
<v Speaker 4>You gotta say the ticker, I know, favorite ticker. Honestly,

0:03:04.200 --> 0:03:04.880
<v Speaker 4>I loved saying this.

0:03:05.120 --> 0:03:08.520
<v Speaker 5>I couldn't I know, we couldn't get plastic. He was like, w.

0:03:10.200 --> 0:03:13.519
<v Speaker 4>Well, Wolf is the ticker woof the stock down and

0:03:13.600 --> 0:03:16.560
<v Speaker 4>post sorry higher in post market, trading up about twenty

0:03:16.680 --> 0:03:19.720
<v Speaker 4>percent after the closing bell. Is a pretty cheap stock though,

0:03:19.760 --> 0:03:21.840
<v Speaker 4>I mean I'm looking at it's just about two dollars

0:03:21.919 --> 0:03:24.079
<v Speaker 4>at the closing bell today. But this, of course is

0:03:24.080 --> 0:03:28.480
<v Speaker 4>after its forecast annual earnings came in above analyst expectations.

0:03:28.480 --> 0:03:31.280
<v Speaker 4>So this is essentially signaling that consumer pet spending it's

0:03:31.280 --> 0:03:33.920
<v Speaker 4>still remaining durable despite a lot of the uncertainty that

0:03:33.960 --> 0:03:37.120
<v Speaker 4>people had as it relates to the tariff trade. So

0:03:37.520 --> 0:03:39.720
<v Speaker 4>this stock is doing pretty well as it looks like it.

0:03:40.440 --> 0:03:43.600
<v Speaker 5>Yeah, it is so way down. I'm going back. I mean,

0:03:43.600 --> 0:03:47.240
<v Speaker 5>everybody was spending on their pets during COVID, but I

0:03:47.280 --> 0:03:50.040
<v Speaker 5>mean at one point, going back to twenty twenty one,

0:03:50.120 --> 0:03:52.640
<v Speaker 5>early twenty twenty one, right, it was about almost a

0:03:52.680 --> 0:03:53.800
<v Speaker 5>thirty dollars stock.

0:03:53.760 --> 0:03:56.480
<v Speaker 4>I know, and down about eighty nine percent over that

0:03:56.520 --> 0:03:57.640
<v Speaker 4>five year time period.

0:03:57.800 --> 0:04:00.800
<v Speaker 5>All Right, we thank you so much, Melinda. Check out

0:04:00.840 --> 0:04:03.400
<v Speaker 5>our Stockmovers podcast. You can find it on Apple, Spotify,

0:04:03.480 --> 0:04:05.160
<v Speaker 5>or anywhere you get your podcasts.

0:04:06.320 --> 0:04:10.560
<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

0:04:10.600 --> 0:04:13.400
<v Speaker 2>throughout the day for the latest roundup of companies making

0:04:13.480 --> 0:04:17.080
<v Speaker 2>news on Wall Street, and for the latest market moving headlines.

0:04:17.279 --> 0:04:21.320
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:04:21.360 --> 0:04:24.440
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:04:24.440 --> 0:04:25.839
<v Speaker 2>Bloomberg Business app.