WEBVTT - Eli Lilly Rises, Shake Shack Declines, Abercrombie & Fitch Sinks

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.640 --> 0:00:18.720
<v Speaker 3>Let's take a look at some stocks on the move today.

0:00:18.760 --> 0:00:21.440
<v Speaker 3>I'm Emi Grafeo with Tim Senovic, and we're joined by

0:00:21.440 --> 0:00:27.440
<v Speaker 3>Bloomberg News Equities reporter Alex Semonova. Let's start with healthcare stocks.

0:00:27.760 --> 0:00:30.400
<v Speaker 4>We obviously have a lot of developments coming out of

0:00:30.480 --> 0:00:34.600
<v Speaker 4>the JP Morgan Healthcare conference and guys, unsurprisingly a hot

0:00:34.640 --> 0:00:39.040
<v Speaker 4>topic there is GLP one drugs. We have Eli Lilly's

0:00:39.080 --> 0:00:42.600
<v Speaker 4>CEO talking with our own Katie Greifeld, saying that the

0:00:42.640 --> 0:00:46.840
<v Speaker 4>company expects its highly anticipated pill version of its GLP

0:00:46.960 --> 0:00:50.360
<v Speaker 4>one drug to get regulatory approval as early as the

0:00:50.440 --> 0:00:54.240
<v Speaker 4>second quarter of this year. That is slightly later than

0:00:54.280 --> 0:00:57.800
<v Speaker 4>it signaled. However, there still is a lot of enthusiasm

0:00:58.120 --> 0:01:00.960
<v Speaker 4>for this version of the drug. It makes more accessible

0:01:01.240 --> 0:01:03.680
<v Speaker 4>to people who are afraid of needles, and that's also

0:01:03.800 --> 0:01:08.200
<v Speaker 4>something that Novo Nordisk gets competitor touted. It said that

0:01:08.319 --> 0:01:13.240
<v Speaker 4>its pill is also going to hit the markets and

0:01:13.680 --> 0:01:16.600
<v Speaker 4>what this will do is give you know, more people

0:01:17.160 --> 0:01:20.520
<v Speaker 4>the option to take GLP ones. Novo and Eli Lilly

0:01:20.600 --> 0:01:23.320
<v Speaker 4>together right now, are selling those drugs to round ten

0:01:23.720 --> 0:01:27.880
<v Speaker 4>to fifteen million people in the US. The total number

0:01:27.959 --> 0:01:30.479
<v Speaker 4>of people living with obesity in the country is actually

0:01:30.480 --> 0:01:33.640
<v Speaker 4>expected to be estimated to be one hundred and ten million,

0:01:33.800 --> 0:01:38.280
<v Speaker 4>so perhaps these developments will make everyone be able to

0:01:38.319 --> 0:01:39.319
<v Speaker 4>take them well.

0:01:39.360 --> 0:01:42.479
<v Speaker 1>Speaking of GLP ones, let's talk about hamburgers.

0:01:42.880 --> 0:01:47.039
<v Speaker 4>Yeah, good transition, Thank you. Funny enough I.

0:01:47.000 --> 0:01:48.800
<v Speaker 1>Got to do that. I was like, can I talk

0:01:48.800 --> 0:01:49.640
<v Speaker 1>about hamburgers?

0:01:49.680 --> 0:01:53.800
<v Speaker 4>It was perfect, It was perfect. Hamburgers are not doing

0:01:53.800 --> 0:01:54.280
<v Speaker 4>that well.

0:01:54.520 --> 0:01:55.880
<v Speaker 1>Is it because of GLP ones?

0:01:55.920 --> 0:01:59.080
<v Speaker 4>Well, allegedly, according to the CEO, it is not. It

0:01:59.120 --> 0:02:02.800
<v Speaker 4>is because of in clement weather. They were saying that

0:02:03.120 --> 0:02:07.480
<v Speaker 4>a lot fewer people were going to their store, to

0:02:07.520 --> 0:02:11.120
<v Speaker 4>their restaurants rather, and they weren't buying hamburgers. I'm thinking

0:02:11.160 --> 0:02:14.040
<v Speaker 4>that it's part of a broader shift away from some

0:02:14.080 --> 0:02:17.120
<v Speaker 4>of these meals we've seen it. Consumers are kind of

0:02:17.160 --> 0:02:20.520
<v Speaker 4>downsizing what they're eatings and also eating. And also some

0:02:20.600 --> 0:02:24.920
<v Speaker 4>of these fast casual restaurants have been struggling a lot. Chipotle, Kava,

0:02:25.000 --> 0:02:27.320
<v Speaker 4>Sweet Green. People are just not into those pops.

0:02:27.320 --> 0:02:30.640
<v Speaker 1>Hold on, hold on, do we put Shakeshack in the

0:02:31.320 --> 0:02:35.280
<v Speaker 1>fast casual category of like Kava, sweet Green, dig those things.

0:02:35.639 --> 0:02:38.480
<v Speaker 1>I feel like Shakeshacks like sort of like a dinner

0:02:38.600 --> 0:02:40.120
<v Speaker 1>indulger with I.

0:02:40.120 --> 0:02:43.840
<v Speaker 4>Think investors do, but we clearly don't. I feel like

0:02:44.240 --> 0:02:48.200
<v Speaker 4>sweet Green is for your sad bowl, sad desk bowl

0:02:48.200 --> 0:02:50.920
<v Speaker 4>that you eat for lunch when you're in the office.

0:02:51.080 --> 0:02:53.040
<v Speaker 4>Shack is like a treat. It brings you joy, it

0:02:53.040 --> 0:02:53.880
<v Speaker 4>makes you excited.

0:02:54.040 --> 0:02:54.680
<v Speaker 1>Yeah, I agree.

0:02:55.000 --> 0:02:57.880
<v Speaker 3>I think I go to the air to eat Shakeshack.

0:02:57.960 --> 0:03:01.880
<v Speaker 3>So maybe there's some signal about people traveling less.

0:03:02.240 --> 0:03:05.080
<v Speaker 4>That's a good Everything is an economic indicator.

0:03:05.320 --> 0:03:08.520
<v Speaker 3>I I'll be honest. I initially laughed at that inclement weather,

0:03:08.840 --> 0:03:12.200
<v Speaker 3>but the more I thought about it, Shakeshack doesn't travel well.

0:03:12.360 --> 0:03:14.400
<v Speaker 3>You know, like it wouldn't be good to order that

0:03:14.639 --> 0:03:17.440
<v Speaker 3>yeah Uber Eats because it's like it's a burger, it's.

0:03:17.360 --> 0:03:19.320
<v Speaker 4>Gonna be all it'll be all soggy.

0:03:19.400 --> 0:03:22.200
<v Speaker 3>Yeah, Whereas like you could probably get away with a

0:03:22.320 --> 0:03:25.359
<v Speaker 3>Chipotle door dash order right.

0:03:25.520 --> 0:03:30.800
<v Speaker 1>Delta and Shakeshack last year announced this expanded partnership first

0:03:30.840 --> 0:03:33.320
<v Speaker 1>class flights out of Atlanta, LA, New York and some

0:03:33.360 --> 0:03:36.400
<v Speaker 1>others with Shakeshack. Okay, so they're trying to like make

0:03:36.440 --> 0:03:37.640
<v Speaker 1>the shakeshack on the plane.

0:03:38.000 --> 0:03:40.400
<v Speaker 4>I saw an influencer post on Instagram that she was

0:03:40.400 --> 0:03:42.760
<v Speaker 4>having shakeshack on her adulta flight. I was very jealous.

0:03:42.880 --> 0:03:45.120
<v Speaker 3>Yes, but you pay like two thousand dollars for a

0:03:45.200 --> 0:03:48.360
<v Speaker 3>first class and then served a hamburger.

0:03:48.480 --> 0:03:52.000
<v Speaker 1>Okay, okay, so wait, I have one more comment on

0:03:52.000 --> 0:03:52.800
<v Speaker 1>on shakeshack.

0:03:53.160 --> 0:03:53.480
<v Speaker 4>What's that?

0:03:53.800 --> 0:03:53.920
<v Speaker 2>Uh?

0:03:55.320 --> 0:03:56.680
<v Speaker 1>I forgot it? So I don't have it?

0:03:56.920 --> 0:03:59.160
<v Speaker 3>All right? We have one more consumer name to get

0:03:59.160 --> 0:04:00.280
<v Speaker 3>to a n f and.

0:04:00.560 --> 0:04:03.680
<v Speaker 4>F Abercromine Fitch. This one is a throwback. I was

0:04:03.800 --> 0:04:07.280
<v Speaker 4>a big fan back in middle school. It had a

0:04:07.360 --> 0:04:09.960
<v Speaker 4>nice revival in the past couple of years, but it

0:04:10.200 --> 0:04:15.200
<v Speaker 4>sank today eighteen percent after holiday sales disappointed investors. That

0:04:15.360 --> 0:04:20.360
<v Speaker 4>also sparked a retail sell off, seeing companies like Urban

0:04:20.400 --> 0:04:24.359
<v Speaker 4>Outfitters also falling. It had jumped ninety percent since the

0:04:24.360 --> 0:04:27.760
<v Speaker 4>company reported strong third quarter results in November, which is

0:04:27.800 --> 0:04:31.919
<v Speaker 4>a pretty incredible run, but they plummeted eighteen percent today,

0:04:31.960 --> 0:04:34.159
<v Speaker 4>So perhaps the bar was just really high going into

0:04:34.200 --> 0:04:38.239
<v Speaker 4>this earning season. And also people were hoping that holiday

0:04:38.240 --> 0:04:40.760
<v Speaker 4>shoppers would give a boost to some of the retail stocks,

0:04:40.760 --> 0:04:42.560
<v Speaker 4>and that was kind of a signal that it didn't.

0:04:42.640 --> 0:04:45.000
<v Speaker 1>We going from six percent to five percent, that's not nothing.

0:04:45.880 --> 0:04:47.800
<v Speaker 1>And like you said, I feel like you said, the

0:04:47.800 --> 0:04:50.240
<v Speaker 1>bar was really high. Where are we in sort of

0:04:50.279 --> 0:04:53.000
<v Speaker 1>like Emily was explaining this to me a little earlier,

0:04:53.000 --> 0:04:55.920
<v Speaker 1>but like just in twenty seconds, where where does Abercrombie

0:04:55.960 --> 0:04:59.520
<v Speaker 1>kind of live in the retail and fashion world right now?

0:05:00.040 --> 0:05:02.560
<v Speaker 4>It's kind of, I guess a mixed bag. When you

0:05:02.600 --> 0:05:05.520
<v Speaker 4>look at retail stock's broadly. Lululemon, for example, which has

0:05:05.560 --> 0:05:09.080
<v Speaker 4>been struggling, saw a revival. Abercrombie has been a hit.

0:05:09.120 --> 0:05:11.480
<v Speaker 4>There's been a revival in the Y two K style.

0:05:12.200 --> 0:05:14.880
<v Speaker 4>The stock has been doing well. But we'll see maybe

0:05:15.040 --> 0:05:17.720
<v Speaker 4>some of the losers of last year becoming winners this year,

0:05:17.760 --> 0:05:19.280
<v Speaker 4>and vice versa.

0:05:20.000 --> 0:05:24.040
<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

0:05:24.120 --> 0:05:26.680
<v Speaker 2>us throughout the day for the latest roundup of companies

0:05:26.760 --> 0:05:29.880
<v Speaker 2>making news on Wall Street and for the latest market

0:05:29.880 --> 0:05:34.360
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:05:34.440 --> 0:05:37.960
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:05:38.000 --> 0:05:39.520
<v Speaker 2>the Bloomberg Business app.