WEBVTT - Chewy Slumps, Costco Climbs, Crowdstrike Mixed

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>The Stock Movers report your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Tim Staneveek along with Alex Samonova. Let's take a

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<v Speaker 1>look at some stocks on the move today. We are

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<v Speaker 1>joined by Bloomberg News reporter Judy LaGrue. Judy, welcome, what's

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<v Speaker 1>on your radar?

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<v Speaker 3>Listen? I'm so curious. Do either of you shop at Costco?

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<v Speaker 1>You know, I'm so glad you asked so, Yes and no.

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<v Speaker 1>We went to Costco once. Have you been to Costco

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<v Speaker 1>in Brooklyn?

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<v Speaker 4>Alex, No, but not recently. My parents used to take

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<v Speaker 4>me there for the samples.

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<v Speaker 1>Well, they had the right, they had the right, they

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<v Speaker 1>had the right thinking because now it's too crowded to go.

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<v Speaker 1>So we went once and we didn't even make it inside.

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<v Speaker 3>Wow.

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<v Speaker 1>But we order Costco a few times a year, so

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<v Speaker 1>it's still worth it to us to be members, even

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<v Speaker 1>though it's a little more expensive to do the ordering

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<v Speaker 1>because it is so crowded on the weekends that it's

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<v Speaker 1>just a zoo. But their delivery, they've really beefed up

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<v Speaker 1>delivery's They partner with Instacart now absolutely.

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<v Speaker 5>I mean that is the crux of the reason why

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<v Speaker 5>Costco stock has reached an all time high as a

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<v Speaker 5>close today, So the stock is up twenty seven percent

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<v Speaker 5>year to date. And what a lot of analysts are

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<v Speaker 5>saying is that despite the high gas prices that we're seeing,

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<v Speaker 5>shoppers are really looking for bargains on essentials and Costco

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<v Speaker 5>is really really taking.

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<v Speaker 3>Off as a result of that.

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<v Speaker 5>And Tim, as you mentioned, we're seeing just a lot

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<v Speaker 5>of growth not only internationally with Costco but also with

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<v Speaker 5>their e commerce, and that's really fueling their growth.

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<v Speaker 1>I do feel like the part you miss out on

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<v Speaker 1>Costco with when you do order is like just randomly

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<v Speaker 1>running into stuff that's like a good deal for a

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<v Speaker 1>limited time at Costco. That was my experience growing up.

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<v Speaker 1>Is like, you know, you load the minivan with the coolers,

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<v Speaker 1>and you know there was there was in a Costco

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<v Speaker 1>close to us, Like we would drive a half hour

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<v Speaker 1>to go to a Costco.

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<v Speaker 4>You see something and you're like, wow, I didn't know

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<v Speaker 4>that this exists in bulk, and I have to have it.

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<v Speaker 1>Now exactly, And that's what that's what we did. So

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<v Speaker 1>now we're just you know, maybe maybe one day we'll

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<v Speaker 1>figure out a time to go. I hear eight am

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<v Speaker 1>or whatever, nine am or whatever. Saturday mornings is the time.

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<v Speaker 1>But that's just too early for me, at least in Brooklyn.

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<v Speaker 3>Oh truly.

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<v Speaker 1>All right, let's talk a little bit about cybersecurity. CrowdStrike

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<v Speaker 1>is also on your radar.

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<v Speaker 3>Today, definitely.

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<v Speaker 5>I think there's a really interesting larger story that's emerging

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<v Speaker 5>about AI and how it's really bifurcating between sort of

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<v Speaker 5>AI as it touches software and AI as it touches

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<v Speaker 5>chip making. Where CrowdStrike really sort of has its own

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<v Speaker 5>Niche is within cybersecurity as it pertains to AI, and

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<v Speaker 5>as AI grows and develops, a lot of businesses are like,

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<v Speaker 5>we've got to protect this. And so CrowdStrike had an

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<v Speaker 5>all time intry day high but came off of it

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<v Speaker 5>before close today. So just a lot of really good movement,

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<v Speaker 5>up about thirty two percent on the year. And again,

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<v Speaker 5>I think it's really indicative of what seeing with AI

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<v Speaker 5>and how that's really changing and morphing right in front

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<v Speaker 5>of our very eyes.

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<v Speaker 1>Yeah, CrowdStrike ticker CRWD. I am shocked. I had no

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<v Speaker 1>idea that this was not a victim of the SaaS apocalypse.

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<v Speaker 3>Really interesting, very much as face send.

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<v Speaker 1>You all time high. That's amazing.

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<v Speaker 4>I think it might have been for a little bit

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<v Speaker 4>and then investor has bought into it.

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<v Speaker 1>They were like, Okay, this actually will work in an

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<v Speaker 1>AI world.

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<v Speaker 4>Yeah, because that's what happens when these companies still have

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<v Speaker 4>pretty solid earnings.

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<v Speaker 1>Yes, Crowdstrig trading at six hundred and fourteen dollars a

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<v Speaker 1>share right now, what else are you watching?

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<v Speaker 4>Chewy?

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<v Speaker 5>Like anyone else today and especially anybody with an animal

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<v Speaker 5>at home a dog for me, the.

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<v Speaker 3>Chewy story is really really fascinating.

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<v Speaker 5>So Chewy close down about ten percent today and a

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<v Speaker 5>lot of it was as we had heard in earlier

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<v Speaker 5>sort of news, the comments that the CEO made about

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<v Speaker 5>the stretched consumer that they've seen since the beginning of

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<v Speaker 5>the year. And I find this a really interesting sort

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<v Speaker 5>of consumer angle. That is pets, right, the one of

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<v Speaker 5>the most emotional purchases that we make really is to

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<v Speaker 5>sort of care for and really make sure to pamper

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<v Speaker 5>our pets. And so again, very fascinating to see sort

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<v Speaker 5>of how consumer sentiment really operates within the pet sector

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<v Speaker 5>in light of everything going on macroeconomically. So we've heard

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<v Speaker 5>time in and time again macro uncertainty, oil prices, and

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<v Speaker 5>so forth. But again, I think this is a really

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<v Speaker 5>interesting space to watch as those elements continue to impact

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<v Speaker 5>both in consumers and the market as a whole.

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<v Speaker 4>People always say that their love for their pets is

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<v Speaker 4>recession proof.

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<v Speaker 3>That's right.

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<v Speaker 1>I'm just going to use this as the opportunity that

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<v Speaker 1>I always do to remind everybody to please pick up

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<v Speaker 1>after their pets.

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<v Speaker 4>There's a big campaign that New York City is doing.

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<v Speaker 1>Yeah, well, I mean when it gets to Brooklyn, because

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<v Speaker 1>there's some people who don't necessarily do that that's been

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<v Speaker 1>on this high horse before.

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