Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data. Let's take a look
Speaker 1: at some stocks on the move today.
Speaker 2: Alexis Christopher's all right, let's get to it and start
Speaker 2: with three M, the maker of Scotch tape post it
Speaker 2: notes Scotch guard and a whole bunch of other things,
Speaker 2: including roofing, granulars, and electronic materials. This stock is down
Speaker 2: three percent today, twenty percent though here to date. Here's
Speaker 2: the story. Three MS adjusted earnings beat expectations through the quarter.
Speaker 2: It's also standing by financial guidance for the year despite
Speaker 2: what it calls a volatile environment, which includes rising costs
Speaker 2: and impacts from the war in Iran. Here's what's tripping
Speaker 2: up investors, organic sales at three M growth at three
Speaker 2: M disappointing investors. Organic sales growth coming in short of
Speaker 2: that two percent growth that the Wall Street Wall Street
Speaker 2: was looking for. All So three M is dealing with
Speaker 2: litigation ongoing litigation over its use of those forever chemicals
Speaker 2: and also defective combat arms earplugs, so they're having to
Speaker 2: set aside money for that litigation. Taking a look now
Speaker 2: at shares of United Health, they are rallying this morning,
Speaker 2: up about seven percent here in the pre market. It
Speaker 2: reported a two percent increase in revenue in the first
Speaker 2: quarter of this year and increased its earnings guidance for
Speaker 2: the year. United Health's stock surging also on news that
Speaker 2: they had expectedly unexpectedly strong first quarter results. And we're
Speaker 2: also seeing something called medical cost ratio. This was up
Speaker 2: eighty four percent in the first quarter at United Health.
Speaker 2: That is the lowest rate reported in two years. They
Speaker 2: say that's due to strong medical cost management. So shares
Speaker 2: of United Health having a good time of it this morning.
Speaker 2: And tractor supply that is with Tennessee Yeah, down five
Speaker 2: and a half percent this morning. First quarter net income
Speaker 2: fell because it's pet spending showed signs of slowing that
Speaker 2: this pet division and people are spending less on the
Speaker 2: pet including farm animals.
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