1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,360 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,840 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,200 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:18,200 --> 00:00:21,160 Speaker 2: I'm Nathan Hager, joined by Bloomberg's Isabelle Lee. On a 6 00:00:21,200 --> 00:00:24,000 Speaker 2: positive morning for the broader market, but not so for 7 00:00:24,120 --> 00:00:28,640 Speaker 2: the latest companies to report earnings, including Nike. A big 8 00:00:28,680 --> 00:00:31,360 Speaker 2: swush to the downside is a bel good morning. 9 00:00:32,000 --> 00:00:34,839 Speaker 3: Definitely a big swush, down by almost ten percent in 10 00:00:34,920 --> 00:00:37,800 Speaker 3: pre market trading. So the company said it expects revenue 11 00:00:37,800 --> 00:00:40,320 Speaker 3: for the fourth quarter to be down some two to 12 00:00:40,360 --> 00:00:42,879 Speaker 3: four percent and it will be lower in the low 13 00:00:42,960 --> 00:00:45,479 Speaker 3: digits for the rest of the calendar year. So this 14 00:00:45,640 --> 00:00:49,760 Speaker 3: is actually very surprisingly gloomy. It's an outlook that I 15 00:00:49,760 --> 00:00:52,120 Speaker 3: think surprised a lot of analysts because Nike has been 16 00:00:52,159 --> 00:00:55,600 Speaker 3: trying to regain market dominance after a sales slump, but 17 00:00:55,720 --> 00:00:58,240 Speaker 3: now it's facing a lot of challenges, and of course 18 00:00:58,280 --> 00:01:00,880 Speaker 3: it's really hard to ignore the in the Middle East, 19 00:01:00,880 --> 00:01:02,880 Speaker 3: and they did say that, they said the company is 20 00:01:02,880 --> 00:01:06,040 Speaker 3: seeing a lot of inventories in Europe and the Middle East, 21 00:01:06,200 --> 00:01:08,600 Speaker 3: and of course you have the traffic disruption from the war, 22 00:01:08,760 --> 00:01:11,640 Speaker 3: so that could lead to more volatility in the business. 23 00:01:11,640 --> 00:01:14,600 Speaker 3: So even if we saw really strong results in North America, 24 00:01:14,720 --> 00:01:16,720 Speaker 3: of course we know that it was the holidays a 25 00:01:16,760 --> 00:01:19,840 Speaker 3: lot of people shop. Those challenges in the Middle East 26 00:01:19,920 --> 00:01:22,600 Speaker 3: as well as the weakness, the continued weakness in China 27 00:01:23,000 --> 00:01:26,440 Speaker 3: really overshadowed the strong results we saw in North American 28 00:01:26,480 --> 00:01:29,520 Speaker 3: region and through to this Clothes the stock has dropped 29 00:01:29,600 --> 00:01:33,000 Speaker 3: some seventeen percent this year. The ten around plan really 30 00:01:33,200 --> 00:01:36,440 Speaker 3: is taking longer than originally planned, especially under the CEO 31 00:01:36,560 --> 00:01:37,280 Speaker 3: Elliott Hills. 32 00:01:37,520 --> 00:01:41,240 Speaker 2: Yeah, longer than a lot of investors were really hoping for. 33 00:01:41,440 --> 00:01:44,400 Speaker 2: With Elliott Hill returning to the helmet Nike and even 34 00:01:44,560 --> 00:01:48,880 Speaker 2: bigger decline this morning for our Ah the furniture maker. 35 00:01:49,600 --> 00:01:52,120 Speaker 3: I know we're really getting gloomy. Here are a run 36 00:01:52,640 --> 00:01:55,920 Speaker 3: almost twenty percent. This is a home furnishing company. The 37 00:01:55,960 --> 00:01:59,360 Speaker 3: revenue forecast for the first quarter missed the average estimates 38 00:02:00,120 --> 00:02:03,600 Speaker 3: are saying that the forecast is pressured by execution and 39 00:02:03,720 --> 00:02:07,080 Speaker 3: again supply chain disruptions. It's giving us flashback to the 40 00:02:07,080 --> 00:02:11,320 Speaker 3: COVID days. Bloomberg Intelligence analysts Lindsay Dutch saying that the 41 00:02:11,360 --> 00:02:14,119 Speaker 3: outlook for our Age is for a two to four 42 00:02:14,160 --> 00:02:17,480 Speaker 3: percent decline in the first quarter for revenue, and that's 43 00:02:17,520 --> 00:02:20,639 Speaker 3: after following a fourth quarter miss. So this point is 44 00:02:20,880 --> 00:02:23,560 Speaker 3: really just a sharp job in demand that could extend 45 00:02:23,960 --> 00:02:26,440 Speaker 3: beyond the first quarter. And we saw actually a couple 46 00:02:26,440 --> 00:02:29,600 Speaker 3: of price cuts from Stifo and Barclays. It's not looking 47 00:02:29,639 --> 00:02:32,280 Speaker 3: good for our Age and it looks to be It 48 00:02:32,320 --> 00:02:35,959 Speaker 3: looks to point to an open and the reds for 49 00:02:36,080 --> 00:02:36,960 Speaker 3: our Age. Well. 50 00:02:37,000 --> 00:02:39,560 Speaker 2: Of course, on a mostly positive morning, we got to 51 00:02:39,600 --> 00:02:42,480 Speaker 2: talk about some stocks in the green. One of those 52 00:02:42,520 --> 00:02:44,480 Speaker 2: includes the Walt Disney Company. 53 00:02:44,639 --> 00:02:46,200 Speaker 1: Of all companies, isn't well. 54 00:02:46,880 --> 00:02:48,679 Speaker 3: We have to end it on a positive note, be 55 00:02:48,760 --> 00:02:51,680 Speaker 3: trying to be positive. Walt Disney tick our Ds. The 56 00:02:51,680 --> 00:02:53,680 Speaker 3: stock is up some one and a half percent in 57 00:02:53,760 --> 00:02:56,840 Speaker 3: pre market rate. We have Raymond Jims upgrading the stock 58 00:02:56,880 --> 00:03:00,480 Speaker 3: to outperform from market perform. They really just cited an 59 00:03:00,480 --> 00:03:03,359 Speaker 3: attractive entry point for the stock. So the analyst there 60 00:03:03,480 --> 00:03:07,640 Speaker 3: said that the current macro backdrop and international visitation headwinds 61 00:03:08,160 --> 00:03:12,280 Speaker 3: are the reasons for this. It's an opportunity to opportunity 62 00:03:12,440 --> 00:03:15,680 Speaker 3: to invest at an attractive valuation. So they set the 63 00:03:16,000 --> 00:03:19,320 Speaker 3: price target to one hundred and fifteen dollars per share. 64 00:03:19,720 --> 00:03:24,480 Speaker 3: In related news, Disneyland Paris unbuilt an expansion dedicated to 65 00:03:24,520 --> 00:03:27,359 Speaker 3: the world of Frozen. So this is no princess that 66 00:03:27,520 --> 00:03:30,000 Speaker 3: a lot of kids love. This is a key part 67 00:03:30,080 --> 00:03:33,639 Speaker 3: of really a billion dollar effort to boost visits at 68 00:03:33,639 --> 00:03:38,840 Speaker 3: the Team Park, which is really facing intense competition in Europe. 69 00:03:39,000 --> 00:03:41,400 Speaker 3: And so Na said, how many steam parks do you 70 00:03:41,400 --> 00:03:42,680 Speaker 3: think Disney has? 71 00:03:42,800 --> 00:03:43,440 Speaker 1: Oh, you're going to. 72 00:03:43,480 --> 00:03:46,360 Speaker 2: Put me on a trivia course to agree. I'm going 73 00:03:46,440 --> 00:03:47,400 Speaker 2: to go with ten. 74 00:03:48,520 --> 00:03:53,040 Speaker 3: Okay, there are six independent operated Disney Resorts locations, but 75 00:03:53,200 --> 00:03:57,280 Speaker 3: twelve individual steam parks. Wow, friend lead missions to try 76 00:03:57,280 --> 00:03:58,680 Speaker 3: to go to all the parks in. 77 00:04:00,120 --> 00:04:04,360 Speaker 1: The stockmover's report from Bloomberg Radio. 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