1
00:00:02,520 --> 00:00:09,960
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

2
00:00:10,280 --> 00:00:13,400
Speaker 1: your roundup of companies making moves in the stock market,

3
00:00:13,680 --> 00:00:15,880
Speaker 1: harnessing the power of Bloomberg Data.

4
00:00:16,480 --> 00:00:17,080
Speaker 2: Let's take a.

5
00:00:17,000 --> 00:00:20,239
Speaker 1: Look at some stocks in the move today with Alexis Christopher's.

6
00:00:20,320 --> 00:00:22,280
Speaker 3: Well, thank you, sir. I just before we get to stocks,

7
00:00:22,320 --> 00:00:23,959
Speaker 3: I have to say we have these little mini cheese

8
00:00:24,040 --> 00:00:27,280
Speaker 3: danishes upstairs today. I just had one during the commercial break.

9
00:00:27,800 --> 00:00:28,640
Speaker 3: It was really tasty.

10
00:00:28,760 --> 00:00:30,960
Speaker 2: You brought in the surveillance.

11
00:00:30,440 --> 00:00:33,760
Speaker 3: Trade for us, so shout out to our food folks.

12
00:00:33,800 --> 00:00:35,879
Speaker 3: I want to start with Stilantis. So you know this

13
00:00:36,159 --> 00:00:41,080
Speaker 3: carmaker that makes Jeep got yes, So yeah, they Chrysler

14
00:00:41,120 --> 00:00:44,720
Speaker 3: exactly exactly down twenty three percent. So get this, It

15
00:00:44,760 --> 00:00:47,880
Speaker 3: is taking a twenty six billion dollar charge. This is

16
00:00:47,960 --> 00:00:51,960
Speaker 3: mainly links to reversing course on its electric vehicle strategy.

17
00:00:52,000 --> 00:00:55,240
Speaker 3: This is much more than what four GM Porsche announced.

18
00:00:55,560 --> 00:00:58,360
Speaker 3: So it's going to cover the cost of canceling evs

19
00:00:58,440 --> 00:01:00,200
Speaker 3: and compensating.

20
00:01:00,760 --> 00:01:04,640
Speaker 2: Bracton Brackton Patriots or Seahawks Patrios Patriots.

21
00:01:04,640 --> 00:01:06,320
Speaker 1: Oh yeah, cause it continues.

22
00:01:06,360 --> 00:01:09,280
Speaker 3: It's done so Stillantro's we know, got a new CEO

23
00:01:09,400 --> 00:01:12,280
Speaker 3: last year and he is blaming his predecessor for all

24
00:01:12,319 --> 00:01:14,760
Speaker 3: of this. He's saying he went all in on EV's

25
00:01:15,319 --> 00:01:19,120
Speaker 3: it wasn't a good idea. Hindsight's twenty twenty. So the

26
00:01:19,160 --> 00:01:21,720
Speaker 3: stock is it's been going through it down twenty six

27
00:01:21,800 --> 00:01:24,640
Speaker 3: percent in the past year. And when you look, I

28
00:01:25,000 --> 00:01:27,760
Speaker 3: took a look at its rivals Ford and GM quite

29
00:01:27,800 --> 00:01:30,000
Speaker 3: a different story. Ford up forty eight percent in the

30
00:01:30,040 --> 00:01:33,160
Speaker 3: past year and GM, I didn't realize this, up seventy

31
00:01:33,280 --> 00:01:33,960
Speaker 3: four percent.

32
00:01:34,080 --> 00:01:36,919
Speaker 2: And the reason they're up is because they have pulled

33
00:01:36,959 --> 00:01:40,440
Speaker 2: back from the EV commitment, soonest censight, and that's what

34
00:01:40,480 --> 00:01:42,120
Speaker 2: the market wants to see. They don't want to see

35
00:01:42,319 --> 00:01:45,839
Speaker 2: these companies throwing all this money into an unproven technology,

36
00:01:46,080 --> 00:01:48,200
Speaker 2: take its slow approaches kind of what I'm hearing. But

37
00:01:48,760 --> 00:01:52,400
Speaker 2: EV's growing. I'm getting in more EV cars, That's what

38
00:01:52,480 --> 00:01:52,760
Speaker 2: I know.

39
00:01:53,440 --> 00:01:55,640
Speaker 3: And there are more charging stations, which I guess will

40
00:01:55,640 --> 00:01:56,760
Speaker 3: help to Harris.

41
00:01:56,800 --> 00:01:59,000
Speaker 1: I must admit it was really cool, like on a

42
00:01:59,000 --> 00:02:01,320
Speaker 1: lot of streets to see a lot of charging stations.

43
00:02:01,400 --> 00:02:04,120
Speaker 3: Yeah, it serves ahead of us on that where's the

44
00:02:04,120 --> 00:02:06,400
Speaker 3: world is? Yeah, even though they have older infrastructure. Okay,

45
00:02:06,440 --> 00:02:10,920
Speaker 3: let's move up. Molina Healthcare Shares plunging thirty one percent.

46
00:02:11,080 --> 00:02:14,600
Speaker 3: So the health insurer forecasting annual profit that was less

47
00:02:14,600 --> 00:02:18,600
Speaker 3: than expected, and it's adjusted earnings of at least five

48
00:02:18,639 --> 00:02:21,240
Speaker 3: dollars a share well below what was expected, which was

49
00:02:21,280 --> 00:02:24,920
Speaker 3: nearly fourteen dollars a share. The story here is Molina

50
00:02:25,040 --> 00:02:28,840
Speaker 3: is going to stop offering Medicare advantage prescription drug plans

51
00:02:28,880 --> 00:02:34,280
Speaker 3: for twenty twenty seven, and mostly Molina's mostly selling Medicaid plans,

52
00:02:34,480 --> 00:02:37,880
Speaker 3: so that's the way it generates most of its revenue. Look,

53
00:02:37,919 --> 00:02:40,080
Speaker 3: a lot of these insurers are struggling right now right

54
00:02:40,080 --> 00:02:42,600
Speaker 3: because high medical costs are making it hard for them

55
00:02:42,880 --> 00:02:46,440
Speaker 3: to price plans at affordable levels and still generate the

56
00:02:46,440 --> 00:02:48,960
Speaker 3: profits that investors have come to expect. So Molina is

57
00:02:48,960 --> 00:02:52,520
Speaker 3: getting punished today. Stock down thirty eight percent in the

58
00:02:52,520 --> 00:02:57,079
Speaker 3: past year because it struggled with forecasting lower revenue last year.

59
00:02:57,200 --> 00:02:59,040
Speaker 3: So it's been in a funk. It just can't seem

60
00:02:59,040 --> 00:02:59,560
Speaker 3: to get out of it.

61
00:03:00,000 --> 00:03:04,320
Speaker 2: Reading the Bloomberg intelligence instant react, it's all about management, credibility.

62
00:03:04,680 --> 00:03:06,399
Speaker 2: Management just lost all their credibility.

63
00:03:06,440 --> 00:03:07,720
Speaker 1: It's gonna take a while to get that back.

64
00:03:07,800 --> 00:03:11,120
Speaker 3: Yeah, that's a slow build there, all right, Then let's

65
00:03:11,120 --> 00:03:13,520
Speaker 3: talk about a company we all know, we might not

66
00:03:13,600 --> 00:03:15,360
Speaker 3: all be wearing it, and that's part of the problem.

67
00:03:15,520 --> 00:03:19,160
Speaker 3: Under Armour. The stock is up though, three percent right now,

68
00:03:19,520 --> 00:03:22,040
Speaker 3: the CEO trying to spin it here, saying the turnaround

69
00:03:22,040 --> 00:03:24,720
Speaker 3: slowly taking shape, and it certainly cannot come fast enough

70
00:03:24,720 --> 00:03:28,400
Speaker 3: for investors because Under Armour stock down seventeen percent over

71
00:03:28,440 --> 00:03:32,240
Speaker 3: the past year. It says, despite continuing headwinds, including those

72
00:03:32,520 --> 00:03:36,680
Speaker 3: Heski tariffs, it has managed to exceed analyst expectations in

73
00:03:36,720 --> 00:03:40,400
Speaker 3: the third quarter and raise its profit guidance for the

74
00:03:40,440 --> 00:03:43,680
Speaker 3: fiscal year. But you know what, North American demand for

75
00:03:43,800 --> 00:03:46,960
Speaker 3: under Armour products down ten percent. That's a major market,

76
00:03:48,120 --> 00:03:50,320
Speaker 3: you know, and so it continues to lose market share

77
00:03:50,520 --> 00:03:53,680
Speaker 3: to companies like Nike. Maybe there's an opportunity there with

78
00:03:53,760 --> 00:03:56,480
Speaker 3: Lulu Lemon, because we know Lulu Lemon's been losing growth.

79
00:03:56,560 --> 00:03:58,320
Speaker 1: In competition with Lulu Lemon.

80
00:03:58,480 --> 00:03:59,840
Speaker 3: Yeah, in some ways in on some of the eth

81
00:04:00,320 --> 00:04:04,240
Speaker 3: where I would say they are at leisure, at leisure.

82
00:04:04,040 --> 00:04:09,280
Speaker 1: Right the Stockmovers Report from Bloomberg Radio. Check back with

83
00:04:09,360 --> 00:04:11,920
Speaker 1: us throughout the day for the latest roundup of companies

84
00:04:12,000 --> 00:04:15,120
Speaker 1: making news on Wall Street and for the latest market

85
00:04:15,160 --> 00:04:19,599
Speaker 1: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube,

86
00:04:19,720 --> 00:04:23,200
Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with

87
00:04:23,279 --> 00:04:24,760
Speaker 1: the Bloomberg Business app.