Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data. Let's take a look
Speaker 1: at some stocks in the move today.
Speaker 2: I'm Tom Keen with bol Sweeney and Bloomberg's Alexis Crystal.
Speaker 2: All right, thanks, guys. I'm going to start with Whirlpool,
Speaker 2: you know, the iconic appliance maker washers, dryers, dishwashers. That
Speaker 2: stock is down twenty one and a half percent right now.
Speaker 2: It is warning that the war in Iran has triggered
Speaker 2: a severe downturn, and I guess it's just underscoring the
Speaker 2: sharply higher fuel prices that we're seeing. We're also seeing
Speaker 2: a drop in consumer confidence. All of this sort of
Speaker 2: playing out now with these big ticket items in fact
Speaker 2: in their earnings filing. This is a direct quote from
Speaker 2: that filing. War in Iran resulted in recession level industry
Speaker 2: declines in the US, that's what they're saying. So Whirlpool
Speaker 2: is slashing us full your earnings guidance in half and
Speaker 2: suspending its dividend as it prioritizes paying down debt. We've
Speaker 2: got an analyst over at JP Morgan, saying that the
Speaker 2: lower earnings outlook driven by higher raw material inflation, tariff impact,
Speaker 2: and a weaker price and product mix benefit. But you
Speaker 2: know what people are spending on services and travel, right.
Speaker 2: Luber Disney out with strong earnings, but get an appliance
Speaker 2: maker here taking a big head.
Speaker 1: Only has a market cap of three and a half
Speaker 1: billion dollars.
Speaker 2: If you had asked me about Whirlpool, I would have
Speaker 2: said thirty billion, forty billion.
Speaker 1: Yeah, that's a spate company.
Speaker 2: Okay, let's move over to food, shall we Let's do that.
Speaker 2: It's always on my mind. Shake Shack plunging twenty three
Speaker 2: percent here this morning, reporting a first quarter higher first
Speaker 2: quarter revenue, but it swung to a loss as the
Speaker 2: restaurant chain made investments in marketing and tech, and it
Speaker 2: also faced higher beef costs. We've been taught, we talk
Speaker 2: a lot of the show about these high beef costs. Also,
Speaker 2: unfavorable weather, they said, cut into profits. Despite this, though,
Speaker 2: the company CEO said underlying sales and traffic and momentum
Speaker 2: remained strong. Also, Shakeshack appointing a new CFO, Michelle Hook,
Speaker 2: comes from the food chain Portillo she's going to start
Speaker 2: in May, and also Shakeshack's going to open up more
Speaker 2: company operated stores. And first thought this year they were
Speaker 2: guiding around fifty five to sixty. Now it's more like
Speaker 2: sixty to sixty five. But this is the Danny Meyer
Speaker 2: founded restaurant chain.
Speaker 1: YEP losing a little luster down twenty percent pre market trading. Wow,
Speaker 1: I just there was a sign somebody had.
Speaker 2: Eric Culprit I think headed out on Twitter today. He's
Speaker 2: gotten stronger because now he can live up. He can
Speaker 2: lift up with his arm. One hundred dollars at groceries.
Speaker 2: Oh there you go, because like literally, what's a bag
Speaker 2: of groceries? It's true, you go, you go to this is.
Speaker 1: What I left sixty dollars.
Speaker 2: Yeah, it's tough, particularly with protein on the bottom. Yeah,
Speaker 2: it's just this is not fun. Next, this leads me
Speaker 2: to my next stock, which is Beyond Meat, sliding eleven
Speaker 2: and a half percent. It posted a double digit decline
Speaker 2: in revenue, and if you're keeping trackets, it's four disappointing
Speaker 2: quarter of revenue disappointments. There are sales of its alternative
Speaker 2: meat products continuing to wan. Fifteen percent decline in revenue
Speaker 2: driven by lower sales of burger and chicken products to
Speaker 2: quick serve restaurants, especially internationally. It also incurred three point
Speaker 2: seven million in expenses related to convertible debt. But it's
Speaker 2: been struggling, you know, with these lower sales. They did
Speaker 2: release a slew of new products this year. New flavored
Speaker 2: chicken pieces, O Love protein drink. Okay.
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