1
00:00:02,520 --> 00:00:10,440
Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

2
00:00:10,800 --> 00:00:14,080
Speaker 1: your roundup of companies making moves in the stock market

3
00:00:14,240 --> 00:00:18,120
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look

4
00:00:18,120 --> 00:00:20,280
Speaker 1: at some of the stocks on the move today. I'm

5
00:00:20,320 --> 00:00:22,800
Speaker 1: Paul swinging along with Alex Steale and rejoined by Bloomberg's

6
00:00:23,239 --> 00:00:24,599
Speaker 1: Normal Linda Norm. What are you looking at?

7
00:00:24,800 --> 00:00:26,279
Speaker 2: A couple of names that I'm keeping an eye on

8
00:00:26,320 --> 00:00:29,760
Speaker 2: this morning. I'm looking at shares of Bumble, that's ticker BMBL.

9
00:00:29,840 --> 00:00:33,000
Speaker 2: We're seeing shares searching for double digit gains up as

10
00:00:33,080 --> 00:00:36,120
Speaker 2: much as twenty seven percent. Now, this is the highest

11
00:00:36,240 --> 00:00:38,720
Speaker 2: level since February, and this is after it reported adjusted

12
00:00:38,720 --> 00:00:43,200
Speaker 2: EBITA forecast that was they boosted that there and also

13
00:00:43,320 --> 00:00:45,040
Speaker 2: that was for the guidance for the second quarter. But

14
00:00:45,320 --> 00:00:46,920
Speaker 2: one thing that I really am looking at here for

15
00:00:46,960 --> 00:00:49,400
Speaker 2: the company is that it announced thirty percent job cuts

16
00:00:49,520 --> 00:00:52,479
Speaker 2: as it additionally raises that quarterly outlook that we were

17
00:00:52,520 --> 00:00:54,840
Speaker 2: just talking about, and so it'll actually be slashing about

18
00:00:54,880 --> 00:00:56,960
Speaker 2: one third of its staff. And we're really seeing a

19
00:00:56,960 --> 00:00:59,440
Speaker 2: lot of these dating apps really just trying to figure

20
00:00:59,440 --> 00:01:02,000
Speaker 2: out how to mark market to some of the younger users.

21
00:01:02,000 --> 00:01:04,320
Speaker 2: And what the dating environment is like right now. So

22
00:01:04,360 --> 00:01:06,520
Speaker 2: we are seeing the company down about twenty five percent

23
00:01:06,600 --> 00:01:08,880
Speaker 2: year to date, but of course the street is really

24
00:01:08,959 --> 00:01:11,240
Speaker 2: celebrating the fact that they're trying to make some strategic

25
00:01:11,400 --> 00:01:12,200
Speaker 2: developments here.

26
00:01:12,280 --> 00:01:14,640
Speaker 3: This is literally apropos of nothing. But I feel like

27
00:01:14,800 --> 00:01:16,640
Speaker 3: I know a lot of younger people now in their

28
00:01:16,640 --> 00:01:19,800
Speaker 3: twenties who are like dating and marrying before thirty, which

29
00:01:19,880 --> 00:01:22,039
Speaker 3: is totally different than my generation. So like they don't

30
00:01:22,040 --> 00:01:24,080
Speaker 3: even make it to a dating app because they've already

31
00:01:24,240 --> 00:01:26,840
Speaker 3: found the person in a person or something. Yeah, I

32
00:01:26,880 --> 00:01:29,680
Speaker 3: mean this is you know whatever. Anyway, moving on FedEx,

33
00:01:29,720 --> 00:01:32,360
Speaker 3: different story. Ede's definitely a different story here. Let's take

34
00:01:32,360 --> 00:01:34,240
Speaker 3: our FDx. This has really been a name that's been

35
00:01:34,280 --> 00:01:36,120
Speaker 3: focused throughout the day. A lot of people consider this

36
00:01:36,160 --> 00:01:38,440
Speaker 3: to be a bell weather of the economy. We're seeing

37
00:01:38,440 --> 00:01:40,520
Speaker 3: shares of the company down as much as five point

38
00:01:40,520 --> 00:01:43,720
Speaker 3: eight percent, that's the most since April tenth. But of

39
00:01:43,760 --> 00:01:45,919
Speaker 3: course this is after the company so that it warned

40
00:01:45,920 --> 00:01:48,520
Speaker 3: that its profit would be worse than expected this year,

41
00:01:48,920 --> 00:01:51,400
Speaker 3: and it also opted out of offering guidance for the

42
00:01:51,440 --> 00:01:53,840
Speaker 3: rest of the year, essentially saying that they don't really

43
00:01:53,840 --> 00:01:55,320
Speaker 3: know what it'll look like. But I mean, I think

44
00:01:55,320 --> 00:01:57,160
Speaker 3: a lot of people are expecting this, especially as we

45
00:01:57,200 --> 00:02:00,600
Speaker 3: see a lot of these companies citing tear as being

46
00:02:00,600 --> 00:02:03,640
Speaker 3: a concern given the uncertainty there. But they also did

47
00:02:03,680 --> 00:02:07,400
Speaker 3: talk about, of course, the trade war and US China shipments.

48
00:02:07,440 --> 00:02:11,240
Speaker 2: That's you're reading sharply just last month. So lots of

49
00:02:11,280 --> 00:02:13,720
Speaker 2: action happening right now in the space. But we're seeing

50
00:02:13,760 --> 00:02:16,280
Speaker 2: shares down about twenty percent year to day.

51
00:02:17,200 --> 00:02:19,240
Speaker 1: BlackBerry I didn't even know was still a thing.

52
00:02:19,320 --> 00:02:20,920
Speaker 3: See, I know every existed.

53
00:02:20,960 --> 00:02:22,880
Speaker 2: That's why I had to bring it up, like we

54
00:02:22,960 --> 00:02:23,440
Speaker 2: have to talk.

55
00:02:23,680 --> 00:02:26,960
Speaker 3: The ticker was RIM anyway, a certain motion. No, you're

56
00:02:27,000 --> 00:02:29,160
Speaker 3: too young for that, remember that. See I missed that one.

57
00:02:29,160 --> 00:02:31,960
Speaker 2: I missed that one. But ticker today is BB. Here

58
00:02:32,240 --> 00:02:36,560
Speaker 2: we're seeing shares jumping as much as twenty sorry, thirty percent,

59
00:02:36,639 --> 00:02:39,320
Speaker 2: seeing the best day of the year right now, really

60
00:02:39,400 --> 00:02:42,359
Speaker 2: seeing a jump here, But of course this is after

61
00:02:42,400 --> 00:02:45,040
Speaker 2: it boosted its revenue forecast for the full year. We're

62
00:02:45,040 --> 00:02:48,320
Speaker 2: seeing some analysts that are positive about the company's forecast,

63
00:02:48,360 --> 00:02:50,799
Speaker 2: and they even hiked some of their price targets on

64
00:02:50,800 --> 00:02:53,160
Speaker 2: this talk. But I'm looking at RBC saying that the

65
00:02:53,200 --> 00:02:56,360
Speaker 2: outlook still seems to be a bit conservative, but it

66
00:02:56,360 --> 00:03:00,760
Speaker 2: assumes an uncertain auto macro environment. But about thirty percent

67
00:03:00,760 --> 00:03:02,680
Speaker 2: this year, but if you look over the past twelve months,

68
00:03:02,800 --> 00:03:04,720
Speaker 2: this stock is up one hundred and twenty two percent.

69
00:03:06,160 --> 00:03:10,520
Speaker 1: The Stockmovers podcast from Bloomberg Radio. Check back with us

70
00:03:10,560 --> 00:03:13,480
Speaker 1: throughout the day for the latest roundup of companies making

71
00:03:13,560 --> 00:03:17,120
Speaker 1: news on Wall Street and for the latest market moving headlines.

72
00:03:17,280 --> 00:03:21,200
Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

73
00:03:21,240 --> 00:03:24,080
Speaker 1: dot com, and on Applecarplay and Android Auto with the

74
00:03:24,080 --> 00:03:25,440
Speaker 1: Bloomberg Business app.