WEBVTT - Whirlpool, Shake Shack, and Beyond Meat Slide

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data. Let's take a look

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<v Speaker 1>at some stocks in the move today.

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<v Speaker 2>I'm Tom Keen with bol Sweeney and Bloomberg's Alexis Crystal.

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<v Speaker 2>All right, thanks, guys. I'm going to start with Whirlpool,

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<v Speaker 2>you know, the iconic appliance maker washers, dryers, dishwashers. That

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<v Speaker 2>stock is down twenty one and a half percent right now.

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<v Speaker 2>It is warning that the war in Iran has triggered

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<v Speaker 2>a severe downturn, and I guess it's just underscoring the

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<v Speaker 2>sharply higher fuel prices that we're seeing. We're also seeing

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<v Speaker 2>a drop in consumer confidence. All of this sort of

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<v Speaker 2>playing out now with these big ticket items in fact

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<v Speaker 2>in their earnings filing. This is a direct quote from

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<v Speaker 2>that filing. War in Iran resulted in recession level industry

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<v Speaker 2>declines in the US, that's what they're saying. So Whirlpool

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<v Speaker 2>is slashing us full your earnings guidance in half and

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<v Speaker 2>suspending its dividend as it prioritizes paying down debt. We've

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<v Speaker 2>got an analyst over at JP Morgan, saying that the

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<v Speaker 2>lower earnings outlook driven by higher raw material inflation, tariff impact,

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<v Speaker 2>and a weaker price and product mix benefit. But you

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<v Speaker 2>know what people are spending on services and travel, right.

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<v Speaker 2>Luber Disney out with strong earnings, but get an appliance

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<v Speaker 2>maker here taking a big head.

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<v Speaker 1>Only has a market cap of three and a half

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<v Speaker 1>billion dollars.

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<v Speaker 2>If you had asked me about Whirlpool, I would have

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<v Speaker 2>said thirty billion, forty billion.

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<v Speaker 1>Yeah, that's a spate company.

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<v Speaker 2>Okay, let's move over to food, shall we Let's do that.

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<v Speaker 2>It's always on my mind. Shake Shack plunging twenty three

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<v Speaker 2>percent here this morning, reporting a first quarter higher first

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<v Speaker 2>quarter revenue, but it swung to a loss as the

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<v Speaker 2>restaurant chain made investments in marketing and tech, and it

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<v Speaker 2>also faced higher beef costs. We've been taught, we talk

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<v Speaker 2>a lot of the show about these high beef costs. Also,

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<v Speaker 2>unfavorable weather, they said, cut into profits. Despite this, though,

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<v Speaker 2>the company CEO said underlying sales and traffic and momentum

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<v Speaker 2>remained strong. Also, Shakeshack appointing a new CFO, Michelle Hook,

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<v Speaker 2>comes from the food chain Portillo she's going to start

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<v Speaker 2>in May, and also Shakeshack's going to open up more

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<v Speaker 2>company operated stores. And first thought this year they were

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<v Speaker 2>guiding around fifty five to sixty. Now it's more like

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<v Speaker 2>sixty to sixty five. But this is the Danny Meyer

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<v Speaker 2>founded restaurant chain.

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<v Speaker 1>YEP losing a little luster down twenty percent pre market trading. Wow,

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<v Speaker 1>I just there was a sign somebody had.

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<v Speaker 2>Eric Culprit I think headed out on Twitter today. He's

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<v Speaker 2>gotten stronger because now he can live up. He can

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<v Speaker 2>lift up with his arm. One hundred dollars at groceries.

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<v Speaker 2>Oh there you go, because like literally, what's a bag

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<v Speaker 2>of groceries? It's true, you go, you go to this is.

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<v Speaker 1>What I left sixty dollars.

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<v Speaker 2>Yeah, it's tough, particularly with protein on the bottom. Yeah,

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<v Speaker 2>it's just this is not fun. Next, this leads me

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<v Speaker 2>to my next stock, which is Beyond Meat, sliding eleven

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<v Speaker 2>and a half percent. It posted a double digit decline

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<v Speaker 2>in revenue, and if you're keeping trackets, it's four disappointing

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<v Speaker 2>quarter of revenue disappointments. There are sales of its alternative

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<v Speaker 2>meat products continuing to wan. Fifteen percent decline in revenue

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<v Speaker 2>driven by lower sales of burger and chicken products to

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<v Speaker 2>quick serve restaurants, especially internationally. It also incurred three point

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<v Speaker 2>seven million in expenses related to convertible debt. But it's

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<v Speaker 2>been struggling, you know, with these lower sales. They did

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<v Speaker 2>release a slew of new products this year. New flavored

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<v Speaker 2>chicken pieces, O Love protein drink. Okay.

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