WEBVTT - Celsius Slumps, SoundHound Soars, MetLife Jumps on Underwriting, Volume Growth

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg Data, Let's.

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<v Speaker 1>Take a look at some of the stocks on the

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<v Speaker 1>move today. We can do that with Judyl Group. She's

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<v Speaker 1>Aquae reporter for Bloomberg News. Join us live here in studio, Judy,

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<v Speaker 1>what are you looking at today? Good morning? Have you

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<v Speaker 1>had a Celsius energy drink lately? Absolutely? Not? Okay? I

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<v Speaker 1>also do not consume energy drinks, but Celsius Holdings is

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<v Speaker 1>on our list ticker CELH. The stock is down as

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<v Speaker 1>much as seventeen percent in today's trading. It is on

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<v Speaker 1>track for its biggest drop since November and its lowest

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<v Speaker 1>priced since last March. And this is coming as the

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<v Speaker 1>maker of energy drinks like Celsius Rockstar and they're fast

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<v Speaker 1>growing women focus energy drink called a Lotty. News reports

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<v Speaker 1>there a second quarter revenue and adjusted EPs that came

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<v Speaker 1>in below expectations as competition really hurt this company's sales. So,

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<v Speaker 1>for example, Celsius sales growth was reported at eleven percent,

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<v Speaker 1>but the consensus was at eighteen percent. In addition, Costco

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<v Speaker 1>who was once a big retailer of Celsius energy drinks,

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<v Speaker 1>came up with their own line of energy drinks, which

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<v Speaker 1>the CEO noted on the earnings call put pressure on

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<v Speaker 1>Celsius's sales. GP Morgan analysts wrote also that quote voluntility

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<v Speaker 1>and often disappointment between the retail performance and the company's

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<v Speaker 1>P and L remains frustrating and difficult to forecast. So

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<v Speaker 1>bad day for Celsius, all right, Keeping an eye on

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<v Speaker 1>Celsius going forward and all the other companies that sell

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<v Speaker 1>those energy drinks. Next up on your list. Soundownd Ai,

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<v Speaker 1>the speech recognition software companies, shares are soaring today as

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<v Speaker 1>much as twenty seven percent, and it is on track

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<v Speaker 1>for its highest jump percentage wise in about a year.

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<v Speaker 1>The company shares, however, are down about twenty three percent

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<v Speaker 1>year to date, and this is coming after the software

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<v Speaker 1>company reported better than expected second quarter revenue and raised

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<v Speaker 1>its full year revenue guidance above Wall Street estimates. And

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<v Speaker 1>the rally might have been fueled by some short interest.

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<v Speaker 1>So what we are seeing on the terminal is that

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<v Speaker 1>about forty three percent of Soundhound's public float, or about

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<v Speaker 1>one hundred and seventy million shares have been sold short

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<v Speaker 1>and so this sort of movement here we're seeing. Also

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<v Speaker 1>possibly a large number of investors who bet against the

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<v Speaker 1>stock are being forced to cover their positions right now.

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<v Speaker 1>So definitely interesting movement there for Soundtown Dai. All right,

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<v Speaker 1>one more sure, So MetLife today reached a record high

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<v Speaker 1>priced since you know they went public back in two thousand,

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<v Speaker 1>if my records are correctly, Tickert shares our climbing as

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<v Speaker 1>much as the four point nine percent on the day,

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<v Speaker 1>and this is after the company's second quarter earnings that

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<v Speaker 1>were released post market yesterday surpass expectations, boosted by strong

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<v Speaker 1>underwriting volume growth and the success of their own five

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<v Speaker 1>year plan, with Piper Sandler analyst writing that the beat

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<v Speaker 1>was really driven by group benefits and Latin America where

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<v Speaker 1>the companies experiencing strong growth, and Jeffreys and Tdcowan analysts

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<v Speaker 1>also pointed to Asia growth as impacting their earning speed

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<v Speaker 1>as well.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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