1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:18,079 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:18,239 --> 00:00:20,720 Speaker 3: I'm Tim Stenebeck. Let's take a look at some stocks 5 00:00:20,800 --> 00:00:22,439 Speaker 3: that are on the move today. It's a Belle Leah's 6 00:00:22,440 --> 00:00:27,080 Speaker 3: Bloomberg News cross asset reporter Isabelle. You got a lot 7 00:00:27,080 --> 00:00:30,040 Speaker 3: to choose from today. We should start with the dating app. 8 00:00:30,040 --> 00:00:33,240 Speaker 1: I think the dating app. It's down by seven percent, 9 00:00:33,360 --> 00:00:36,680 Speaker 1: so Bumble shares fell after Jpmorkan downgraded the stock to 10 00:00:36,800 --> 00:00:39,920 Speaker 1: underbrate from neutral. We have analysts Corey Carpenter saying that 11 00:00:40,200 --> 00:00:42,920 Speaker 1: shares me I have rallied some fifty percent since Donald Trump's 12 00:00:42,920 --> 00:00:46,800 Speaker 1: Liberation Day tariff announcement, but he's still struggling to justify 13 00:00:46,840 --> 00:00:50,559 Speaker 1: the price target given expectation for revenue and PARADI clients 14 00:00:50,560 --> 00:00:53,840 Speaker 1: to accelerate. And he also adds that online dating category 15 00:00:53,880 --> 00:00:57,920 Speaker 1: remains challenged with gen Z product fit issues, So I 16 00:00:57,920 --> 00:01:00,920 Speaker 1: don't know what the gen zs are doing. You were 17 00:01:01,000 --> 00:01:01,360 Speaker 1: gen Z. 18 00:01:01,520 --> 00:01:02,760 Speaker 3: I thought you were a gen Z. I was gonna 19 00:01:02,800 --> 00:01:04,560 Speaker 3: ask you, like, what the deal is? What doesn't mean 20 00:01:04,600 --> 00:01:06,280 Speaker 3: that it's not a product category fit. By the way, 21 00:01:06,280 --> 00:01:10,360 Speaker 3: we're talking about bumble BMBL is the TIPPERL was. This 22 00:01:10,400 --> 00:01:12,600 Speaker 3: is Corey Carpenter over at JP Morgan. I was looking 23 00:01:12,600 --> 00:01:15,360 Speaker 3: at this one as well today. So Corey Carpenter says, 24 00:01:15,440 --> 00:01:18,360 Speaker 3: quote online dating category remains challenged with gen Z product 25 00:01:18,360 --> 00:01:21,520 Speaker 3: market fit issues. Does that mean that the youngs don't 26 00:01:21,800 --> 00:01:25,200 Speaker 3: use the apps? I one of the youngs. I don't know. 27 00:01:25,319 --> 00:01:29,640 Speaker 1: No, I'm a millennial, same or charged. There are just 28 00:01:29,720 --> 00:01:32,240 Speaker 1: more apps every time. I mean, Hinge is one of 29 00:01:32,240 --> 00:01:34,880 Speaker 1: the most famous. Tinder used to be old school, but 30 00:01:34,959 --> 00:01:36,880 Speaker 1: now I hear a lot of other apps that I 31 00:01:37,000 --> 00:01:39,360 Speaker 1: haven't heard before, So I think it could be that. 32 00:01:39,720 --> 00:01:42,600 Speaker 3: Okay, so maybe they're still using apps, but they're not necessarily. 33 00:01:43,040 --> 00:01:45,240 Speaker 1: Or maybe I mean, you know how every time I 34 00:01:45,240 --> 00:01:46,960 Speaker 1: look at a gen Z person, I'm like, that's what 35 00:01:47,000 --> 00:01:49,440 Speaker 1: I wore when I was in high school. Maybe they're 36 00:01:49,480 --> 00:01:52,480 Speaker 1: returning to meeting in person meet cutes. 37 00:01:52,400 --> 00:01:55,400 Speaker 3: You know one. I'm only speaking anecdotally here on one 38 00:01:55,400 --> 00:01:57,680 Speaker 3: of my friends who uses one of these apps has 39 00:01:57,720 --> 00:02:01,080 Speaker 3: complained to me, and look, he's in a slightly he's 40 00:02:01,080 --> 00:02:05,559 Speaker 3: not gen Z's millennial. But you know, the apps only 41 00:02:05,640 --> 00:02:08,680 Speaker 3: work the apps the incentive for the app is like, 42 00:02:08,760 --> 00:02:10,280 Speaker 3: you know, you meet somebody and you go get off 43 00:02:10,280 --> 00:02:12,919 Speaker 3: the app, You're done, right, Yes, so that inherently isn't 44 00:02:12,919 --> 00:02:17,920 Speaker 3: necessarily aligned with a company that wants to keep customers. 45 00:02:17,400 --> 00:02:20,880 Speaker 1: Right, That's exactly right. There's an app ad actually that 46 00:02:21,000 --> 00:02:23,800 Speaker 1: says it's the app that this that is designed to 47 00:02:23,840 --> 00:02:24,400 Speaker 1: be deleted. 48 00:02:24,760 --> 00:02:29,160 Speaker 3: Oh okay, yeah, there is that. Okay, So bumble shares 49 00:02:29,760 --> 00:02:32,160 Speaker 3: that was the stock on the move today move into 50 00:02:32,200 --> 00:02:35,360 Speaker 3: a bigger category a retailer. We heard some commentary from 51 00:02:35,400 --> 00:02:36,160 Speaker 3: the CEO today. 52 00:02:36,320 --> 00:02:38,720 Speaker 1: Yes, this is Dollar General and it's jumped to the 53 00:02:38,720 --> 00:02:42,360 Speaker 1: most on record, and that's after raising their annual guidance, 54 00:02:42,400 --> 00:02:45,040 Speaker 1: which is really helped by luring more higher income shoppers 55 00:02:45,080 --> 00:02:47,360 Speaker 1: looking for a deal. So the discount chain said it 56 00:02:47,440 --> 00:02:50,560 Speaker 1: also expects to really mitigate a significant amount of tires 57 00:02:50,639 --> 00:02:54,880 Speaker 1: currently in place. So shares of Dollar General, which is DG, 58 00:02:55,520 --> 00:02:58,720 Speaker 1: surge at a record on Tuesday, gaining sixteen percent, and 59 00:02:58,760 --> 00:03:01,800 Speaker 1: the stock has jumped for eight percent this year. So 60 00:03:01,880 --> 00:03:04,480 Speaker 1: this is really interesting because we know that Dollar Generals, 61 00:03:04,560 --> 00:03:07,600 Speaker 1: low income shoppers have been really feeling the squeeze of inflation. 62 00:03:07,680 --> 00:03:10,240 Speaker 1: We have the CEO earlier this year warning that they're 63 00:03:10,280 --> 00:03:14,800 Speaker 1: skimping on necessities. So this is great news for the company. 64 00:03:14,800 --> 00:03:17,480 Speaker 1: We have same store sales gaining up to two and 65 00:03:17,520 --> 00:03:19,680 Speaker 1: a half percent this fiscal year, which is higher than 66 00:03:19,720 --> 00:03:21,000 Speaker 1: their previous forecasts. 67 00:03:21,160 --> 00:03:23,680 Speaker 3: So I thought the commentary from Todd Vassos, the CEO, 68 00:03:23,880 --> 00:03:26,480 Speaker 3: was really interesting. You said, quote, our core customer remains 69 00:03:26,520 --> 00:03:30,840 Speaker 3: financially constrained, but what they're also seeing is that more 70 00:03:30,880 --> 00:03:34,600 Speaker 3: middle and high income consumers are trading down. It's a 71 00:03:34,600 --> 00:03:36,720 Speaker 3: sign that even wealthier shoppers are looking for deals in 72 00:03:36,760 --> 00:03:37,760 Speaker 3: midweakening sentiments. 73 00:03:37,760 --> 00:03:40,680 Speaker 1: So which could be a recessionary indicator, because why will 74 00:03:40,760 --> 00:03:44,640 Speaker 1: you go to Dollar General if you have discretionary budget? 75 00:03:44,720 --> 00:03:44,880 Speaker 1: You know. 76 00:03:45,320 --> 00:03:46,560 Speaker 3: Yeah, I think that's a really good point. I mean, 77 00:03:46,600 --> 00:03:49,000 Speaker 3: we heard from some of the bigger retailers earlier this year, 78 00:03:49,680 --> 00:03:53,040 Speaker 3: or look like last month, right, Target, Walmart, and others. Yes, 79 00:03:53,720 --> 00:03:55,920 Speaker 3: Target got hit pretty hard. There were a few reasons. 80 00:03:55,920 --> 00:03:58,480 Speaker 3: But I'm wondering if some of those customers are instead 81 00:03:58,480 --> 00:04:00,840 Speaker 3: of shopping at Target, maybe they're going to do General exactly. 82 00:04:00,840 --> 00:04:04,000 Speaker 1: And the same story sales is also interesting because that's 83 00:04:04,280 --> 00:04:07,440 Speaker 1: not really the trend that we're seeing now. So keep 84 00:04:07,440 --> 00:04:09,600 Speaker 1: an eye out on Dollar General. Oh my gosh, maybe 85 00:04:09,600 --> 00:04:11,080 Speaker 1: you and I should miss a Dollar General. 86 00:04:11,400 --> 00:04:12,640 Speaker 3: Yeah, I don't know if there are any in New 87 00:04:12,680 --> 00:04:14,480 Speaker 3: York City areas I've been to. I've been to a 88 00:04:14,520 --> 00:04:17,240 Speaker 3: few Dollar Generals I haven't been to. You've never been 89 00:04:17,320 --> 00:04:19,080 Speaker 3: because you've been there like a city, Yeah, you've stayed 90 00:04:19,080 --> 00:04:20,920 Speaker 3: in the city. They're all over the country. In some 91 00:04:21,000 --> 00:04:24,680 Speaker 3: places they're like the only place you can actually get 92 00:04:25,600 --> 00:04:27,520 Speaker 3: a lot of goods. I've been as parts of Texas 93 00:04:27,560 --> 00:04:29,760 Speaker 3: where a Dollar General was like the only store you 94 00:04:29,760 --> 00:04:32,640 Speaker 3: could go to. Another dollar store as well. Yeah, there 95 00:04:32,640 --> 00:04:35,800 Speaker 3: are communities that are like that, as we've seen people 96 00:04:35,880 --> 00:04:37,320 Speaker 3: migrate out of certain areas. 97 00:04:37,920 --> 00:04:39,599 Speaker 1: So I think is a dollar there. 98 00:04:39,720 --> 00:04:43,320 Speaker 3: That is a very good point. There's also this survey 99 00:04:43,360 --> 00:04:45,560 Speaker 3: that Dollar Generals shared twenty five percent of the retailer's 100 00:04:45,600 --> 00:04:48,760 Speaker 3: customers have less income than last year. So that's certainly 101 00:04:49,000 --> 00:04:51,159 Speaker 3: I think something to keep an eye on. Should we 102 00:04:51,160 --> 00:04:52,080 Speaker 3: go social media? 103 00:04:53,000 --> 00:04:56,800 Speaker 1: So this is pinterest shares ed higher by around four percent, 104 00:04:56,960 --> 00:04:59,920 Speaker 1: so JP Morgan raise their rating to overweight from neutral. 105 00:05:00,080 --> 00:05:02,800 Speaker 1: We have analyst dog and With saying that their versification 106 00:05:02,920 --> 00:05:06,279 Speaker 1: of its ad platform is supporting further revenue. So pinterest 107 00:05:06,320 --> 00:05:08,719 Speaker 1: is also driving solid growth. We have eighty five percent 108 00:05:08,720 --> 00:05:11,880 Speaker 1: of its monthly active users coming directly to the mobile app. 109 00:05:11,920 --> 00:05:14,840 Speaker 1: And do you know I still use Pinterest on my desktop? 110 00:05:15,000 --> 00:05:16,359 Speaker 3: What do you what do you use it for? 111 00:05:16,839 --> 00:05:19,320 Speaker 1: I actually haven't visited it in a while. When I 112 00:05:19,360 --> 00:05:21,160 Speaker 1: was in college, you know, i'd use it for desktop 113 00:05:21,160 --> 00:05:25,720 Speaker 1: when you look at the room inspirations or party inspirations. 114 00:05:25,720 --> 00:05:27,279 Speaker 1: But I haven't been to in a while. And I 115 00:05:27,320 --> 00:05:29,760 Speaker 1: actually don't have the app, but I will download the 116 00:05:29,800 --> 00:05:32,239 Speaker 1: app when I get home. Maybe it's also but maybe 117 00:05:32,240 --> 00:05:34,480 Speaker 1: I shouldn't because I'm going to be addicted to more 118 00:05:34,520 --> 00:05:35,960 Speaker 1: and more apps. Do you have it? 119 00:05:36,200 --> 00:05:38,480 Speaker 3: I don't. We use Pinterest a little bit when planning 120 00:05:38,520 --> 00:05:39,120 Speaker 3: our wedding and. 121 00:05:39,400 --> 00:05:40,960 Speaker 1: Exactly it's a wedding or that was. 122 00:05:40,960 --> 00:05:43,200 Speaker 3: A long that was a long time ago. Yeah, there 123 00:05:43,240 --> 00:05:44,840 Speaker 3: was definitely not an app then that we were using. 124 00:05:44,920 --> 00:05:47,440 Speaker 1: Yeah. So price target has been raised to forty from 125 00:05:47,480 --> 00:05:50,120 Speaker 1: thirty five. So good news from Pinterest. I mean, honestly, 126 00:05:50,160 --> 00:05:52,600 Speaker 1: there's just so many things online that it's easy to 127 00:05:52,680 --> 00:05:54,880 Speaker 1: be addicted to your phone. 128 00:05:55,520 --> 00:05:59,599 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 129 00:05:59,680 --> 00:06:02,520 Speaker 2: us out the day for the latest roundup of companies 130 00:06:02,560 --> 00:06:05,600 Speaker 2: making news on Wall Street and for the latest market 131 00:06:05,640 --> 00:06:09,960 Speaker 2: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, 132 00:06:10,040 --> 00:06:13,279 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 133 00:06:13,360 --> 00:06:14,800 Speaker 2: the Bloomberg Business app.