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Speaker 1: Bloomberg Audio Studios, Podcasts, radio news, The Stock Movers Report,

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Speaker 1: your roundup of companies making moves in the stock market,

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Speaker 1: harnessing the power of Bloomberg Data.

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Speaker 2: Stock's on the move today, we can do that. Paul

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Speaker 2: swing alongside normal Linda. We're joined by Bloomberg's the Donna Hirich.

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Speaker 2: She's processor reporter and team leader as a July for

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Speaker 2: Bloomberg News. The Donna, thanks so much for joine yus.

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Speaker 2: What are you looking at today?

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Speaker 3: Yeah, thanks so much for having me. I'm looking as

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Speaker 3: Charlie was at Chairs of Meta Platforms. That's ticker m

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Speaker 3: E t A a ticker they actually got from an

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Speaker 3: ETF company. Fun fact, really we all remember during the

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Speaker 3: pandemic when they changed their ticker. There was this big

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Speaker 3: project to start focusing on the metaverse. And now we

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Speaker 3: have shares rising as much as five point seven worked on.

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Speaker 2: The IPO and we part of the team that came

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Speaker 2: up with the FB.

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Speaker 1: How about That's good?

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Speaker 3: It was a change revam, yes, but shares are up

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Speaker 3: today following a Bloomberg report that the company is expected

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Speaker 3: to meaningfully cut resources for building the so called metaverse,

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Speaker 3: an effort that Mark Zuckerberg wants framed as the future

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Speaker 3: of the company, and as Charlie said, the reason for

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Speaker 3: changing its name, I.

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Speaker 2: Don't get it. I mean, I think it's a shareholders saying, yeah,

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Speaker 2: spend the money anywhere else but the metaverse. I think.

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Speaker 4: Yeah. I fink if people were kind of thinking it

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Speaker 4: was catchy the four letter name in Eta. But it

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Speaker 4: seems as though with the metaverse not really working out,

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Speaker 4: it starts to make me wonder.

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Speaker 3: Once the last time anybody has talked about the metaverse.

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Speaker 2: I think your cash flow. Actually more than one hundred

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Speaker 2: percent of cash flow comes from Facebook.

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Speaker 3: Okay, five below, five below that's ticker five shares up

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Speaker 3: as much as three point five percent today, but flat

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Speaker 3: right now as we're talking. And the company did raise

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Speaker 3: its profit outlook for the third time in the fiscal year,

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Speaker 3: lifted by demand for budget friendly goods, and so we

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Speaker 3: know this is happening as US consumers sent is sort

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Speaker 3: of waning amid high prices and a weaker labor market.

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Speaker 3: The company sees comp sales rising about nine point four

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Speaker 3: percent to ten point one percent in the physical year,

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Speaker 3: and that's up from what it was previously saying would

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Speaker 3: be about five to seven percent, so adjusted earnings per

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Speaker 3: share now forecast to be higher than the previous guidance

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Speaker 3: as well. And so this is really interesting to me

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Speaker 3: because you know, it's interesting to see where consumers are

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Speaker 3: actually flocking to what types of products they're buying. We

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Speaker 3: also have at the same time today a peer a

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Speaker 3: five below peer Dollar Tree ticker DLT are also reporting

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Speaker 3: better than expected results and raising its outlook in its

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Speaker 3: report this week, signaling that discountry jailers are seeing a

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Speaker 3: rise and spending from really stretched consumers.

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Speaker 4: Yeah, you're seeing everybody trading down, everyone looking for some

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Speaker 4: sort of budget. So we are seeing shares of five

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Speaker 4: below tick our five up about fifty six percent so

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Speaker 4: far this year, so some really strong gains there. You're

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Speaker 4: also looking at shares of Kroger right.

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Speaker 3: That company shares are only up about one percent so

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Speaker 3: far this year, really lagging the broader market. That's secret.

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Speaker 3: K are shares down as much as eight percent today

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Speaker 3: after it lowered the top end of its full year

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Speaker 3: sales forecast, and that to analysts, suggesting that competition is

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Speaker 3: intensifying among food sellers. For those discerning consumers we were

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Speaker 3: just talking about, Kroger is the nation's largest supermarket operator,

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Speaker 3: and it now sees comp sales growing between two percent

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Speaker 3: to three percent minus fuel, versus previous guidance of two

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Speaker 3: point seven percent to three point four percent increase. So again,

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Speaker 3: going back to that consumer picture, what consumers are going toward,

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Speaker 3: where they're shopping, and how they're spending their dollars.

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Speaker 4: Do we even have some Kroger's up north here? I mean,

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Speaker 4: I know we had a ton in Virginia, but have

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Speaker 4: you guys been doing a Kurger?

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Speaker 2: No, they're around here, not up here.

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Speaker 3: But I'm waiting for Wegmans to open.

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Speaker 1: Up closer to my That would be good.

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Speaker 3: Not that.

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Speaker 1: Absolutely you know what they're doing.

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Speaker 2: I mean you go in there and you're just blown away. Yes,

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Speaker 2: and there's so many people helping you. I don't know

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Speaker 2: how they make money. I don't know how the I

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Speaker 2: guess it's always.

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Speaker 1: The Stock Movers Report from Bloomberg Radio. Check back with

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Speaker 1: us throughout the day for the latest roundup of companies

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