1
00:00:02,520 --> 00:00:10,440
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

2
00:00:10,800 --> 00:00:14,080
Speaker 1: your roundup of companies making moves in the stock market,

3
00:00:14,240 --> 00:00:16,480
Speaker 1: harnessing the power of Bloomberg Data.

4
00:00:17,160 --> 00:00:18,920
Speaker 2: Let's take a look at some of the stocks on

5
00:00:19,120 --> 00:00:22,440
Speaker 2: the move today. I'm Paul Sweeney along with Lisa Matteo

6
00:00:22,520 --> 00:00:25,200
Speaker 2: and Alex Steele. Lisa, what do you have for us?

7
00:00:25,280 --> 00:00:27,760
Speaker 3: Okay, I want to start with Tesla. Take her Tsla.

8
00:00:27,840 --> 00:00:29,680
Speaker 3: Shar has been up as much as two percent, sometimes

9
00:00:29,720 --> 00:00:32,159
Speaker 3: two and a half percent, So a few things going on.

10
00:00:32,200 --> 00:00:34,560
Speaker 3: Elon Musk said, Tesla said, June twenty second is this

11
00:00:34,680 --> 00:00:37,360
Speaker 3: tentative launch date to start the Robotaxi. He made this

12
00:00:37,440 --> 00:00:40,240
Speaker 3: post on x They posted they've been promoting this video

13
00:00:40,320 --> 00:00:42,400
Speaker 3: that show is one of the vehicles driving in Austin,

14
00:00:42,479 --> 00:00:44,240
Speaker 3: no one behind the wheel, so it's kind of hinting

15
00:00:44,320 --> 00:00:47,880
Speaker 3: that it's close to launching there in Austin. He also

16
00:00:47,920 --> 00:00:51,159
Speaker 3: said it plans to autonomously deliver a vehicle from the

17
00:00:51,240 --> 00:00:53,920
Speaker 3: factory to a customer's house on June twenty eighth, which

18
00:00:53,960 --> 00:00:56,520
Speaker 3: is actually my birthday too. On top of that, but

19
00:00:56,680 --> 00:00:59,279
Speaker 3: the second thing is that he said he regrets those

20
00:00:59,280 --> 00:01:02,080
Speaker 3: social media puts been battling back and forth with President

21
00:01:02,120 --> 00:01:05,039
Speaker 3: Donald Trump. He said he went too far. But the debate,

22
00:01:05,080 --> 00:01:06,760
Speaker 3: you know, it started with the opposition to the tax

23
00:01:06,800 --> 00:01:08,600
Speaker 3: cut bill and then went just went on from there.

24
00:01:08,640 --> 00:01:11,200
Speaker 3: But he says, you know what, I just went too far,

25
00:01:11,959 --> 00:01:13,839
Speaker 3: and then from there, I want to go to Lockheed Martin.

26
00:01:13,880 --> 00:01:17,240
Speaker 3: Their ticker l MT. It's down two percent. It's really

27
00:01:17,280 --> 00:01:19,600
Speaker 3: facing this setback. So you had the US Air Force,

28
00:01:19,640 --> 00:01:21,760
Speaker 3: they have their F thirty five requests to Congress to

29
00:01:21,880 --> 00:01:24,600
Speaker 3: twenty four jets. That's down from forty eight that was

30
00:01:24,640 --> 00:01:27,640
Speaker 3: forecast last year. And the Air Force is the largest

31
00:01:27,640 --> 00:01:30,720
Speaker 3: customer right for the world's biggest weapons program. The problem

32
00:01:30,800 --> 00:01:33,919
Speaker 3: is that the F thirty five program, it's faced some criticism,

33
00:01:34,040 --> 00:01:36,800
Speaker 3: especially from people like Elon Musk would say, well, why

34
00:01:36,880 --> 00:01:38,800
Speaker 3: do we need all these fighter jets when we have drones?

35
00:01:39,000 --> 00:01:41,280
Speaker 3: You know, So that's their kind of thinking behind it.

36
00:01:41,959 --> 00:01:42,559
Speaker 2: But it just.

37
00:01:42,480 --> 00:01:46,440
Speaker 3: Shows that they're kind of revising, you know, the funding

38
00:01:46,720 --> 00:01:47,480
Speaker 3: because we thought.

39
00:01:47,280 --> 00:01:49,280
Speaker 4: That like defense spending was going to be the sure

40
00:01:49,320 --> 00:01:51,600
Speaker 4: thing no matter what, so right that this is obviously

41
00:01:51,680 --> 00:01:53,200
Speaker 4: hitting the market a little bit by surprise.

42
00:01:53,320 --> 00:01:55,080
Speaker 3: Yeah, because they're trying to reduced by eight percent the

43
00:01:55,520 --> 00:01:58,680
Speaker 3: defense spending over the next five years. So we have that,

44
00:01:58,760 --> 00:02:02,000
Speaker 3: we'll go to game Stop that's sick her gme down

45
00:02:02,120 --> 00:02:05,200
Speaker 3: six percent, swung to a profit for the first quarter,

46
00:02:05,240 --> 00:02:08,079
Speaker 3: but it also reported falling sales at the same time,

47
00:02:08,440 --> 00:02:11,800
Speaker 3: so you had sales of both software hardware accessories category

48
00:02:11,840 --> 00:02:14,840
Speaker 3: that fell during the quarter. The collectible's business that was

49
00:02:14,880 --> 00:02:19,160
Speaker 3: actually the only segment to record growth. But it's really

50
00:02:19,200 --> 00:02:21,520
Speaker 3: a setback because the sharer spike. Do you remember back

51
00:02:21,560 --> 00:02:25,040
Speaker 3: in May, it'said it purchased like four seven hundred ten bitcoin, right,

52
00:02:25,080 --> 00:02:28,040
Speaker 3: that's equal to about half a billion dollars at the time.

53
00:02:28,160 --> 00:02:30,240
Speaker 3: So this is a little bit stuff back, and that's

54
00:02:30,280 --> 00:02:30,520
Speaker 3: why the.

55
00:02:30,520 --> 00:02:32,359
Speaker 4: Shares are lower because game Stop kind of wants to

56
00:02:32,400 --> 00:02:34,959
Speaker 4: become what micro strategy or just strategy. It is like

57
00:02:35,000 --> 00:02:37,720
Speaker 4: they want to be a bitcoin player, a crypto player.

58
00:02:38,240 --> 00:02:40,800
Speaker 4: Not necessarily the story that we all remember going into

59
00:02:40,880 --> 00:02:42,960
Speaker 4: to get something for your gamer.

60
00:02:42,840 --> 00:02:46,000
Speaker 2: Ran because I think most of the games now are online, right,

61
00:02:46,040 --> 00:02:47,959
Speaker 2: I mean, yes, no, yes.

62
00:02:47,760 --> 00:02:49,440
Speaker 4: That's what I was just doing. My daughter asked for

63
00:02:49,480 --> 00:02:51,639
Speaker 4: something for her graduation. I was like, Okay, I guess

64
00:02:51,639 --> 00:02:53,359
Speaker 4: I better go to Amazon and look up that game

65
00:02:53,400 --> 00:02:55,240
Speaker 4: and go So there you go, all.

66
00:02:55,240 --> 00:02:58,360
Speaker 3: Right, wrapping up Chewy, Yeah, Chewy down six percent, okay,

67
00:02:58,639 --> 00:03:02,360
Speaker 3: gross margin, free cashual off short of expectations. Also, it

68
00:03:02,440 --> 00:03:05,480
Speaker 3: reiterated to annual sales at target. But after saying, you

69
00:03:05,520 --> 00:03:08,120
Speaker 3: know what, the report just not strong enough to justify

70
00:03:08,200 --> 00:03:11,120
Speaker 3: the recent strength in the shares. So you had Baird

71
00:03:11,120 --> 00:03:13,360
Speaker 3: who said, you know, a solid print, but it's likely

72
00:03:13,600 --> 00:03:16,880
Speaker 3: not enough given this high bar that has and City

73
00:03:16,919 --> 00:03:18,720
Speaker 3: said they just didn't like the fact that their full

74
00:03:18,800 --> 00:03:22,400
Speaker 3: year guidance was just not raised, so their shares are lower,

75
00:03:22,440 --> 00:03:23,239
Speaker 3: down six percent.

76
00:03:23,280 --> 00:03:25,120
Speaker 2: This morning, all right, we got the doll coming to

77
00:03:25,160 --> 00:03:28,240
Speaker 2: the Sweeney household, so we went to our local like

78
00:03:28,360 --> 00:03:30,360
Speaker 2: tex store, just to check it out and make sure

79
00:03:30,400 --> 00:03:34,000
Speaker 2: they got the stuff that we need, and they got everything.

80
00:03:34,160 --> 00:03:37,520
Speaker 4: Is this like a pet coot Chewy or well, I don't.

81
00:03:37,400 --> 00:03:40,040
Speaker 2: Think it was pet Co, but they've got everything that's

82
00:03:40,080 --> 00:03:42,360
Speaker 2: on our little list to get for this mutt, and

83
00:03:42,600 --> 00:03:47,080
Speaker 2: including the dog groomer. You know, doll groomer's back taking

84
00:03:47,120 --> 00:03:47,560
Speaker 2: care of it.

85
00:03:47,680 --> 00:03:49,440
Speaker 3: But do you think you'll do it more online and

86
00:03:49,480 --> 00:03:50,960
Speaker 3: just make it easier and have the box show up

87
00:03:50,960 --> 00:03:51,600
Speaker 3: on your doorstep.

88
00:03:51,880 --> 00:03:54,680
Speaker 2: I don't know. I'm not in charge, but I'm going

89
00:03:54,720 --> 00:03:55,400
Speaker 2: to be a good owner.

90
00:03:55,440 --> 00:03:57,560
Speaker 4: I don't think so. I think it's going to be

91
00:03:57,600 --> 00:04:00,400
Speaker 4: like a trip, the trip in the experience with the

92
00:04:00,440 --> 00:04:02,000
Speaker 4: dog in the star. I'm just saying, I don't know.

93
00:04:02,240 --> 00:04:03,280
Speaker 4: That's what putting it out there.

94
00:04:04,200 --> 00:04:08,560
Speaker 1: The Stockmovers podcast from Bloomberg Radio. Check back with us

95
00:04:08,600 --> 00:04:11,520
Speaker 1: throughout the day for the latest roundup of companies making

96
00:04:11,600 --> 00:04:15,160
Speaker 1: news on Wall Street and for the latest market moving headlines.

97
00:04:15,320 --> 00:04:19,240
Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

98
00:04:19,279 --> 00:04:22,120
Speaker 1: dot com, and on Applecarplay and Android Auto with the

99
00:04:22,120 --> 00:04:23,479
Speaker 1: Bloomberg Business app.