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.
Speaker 2: Let's take a look at some of the stocks on
Speaker 2: the move today. I'm Paul Sweeney alongside Scarlet Film. We're
Speaker 2: joined by Bloomberg's Touchanna Daria, Touchana. What are you looking at?
Speaker 3: Well? Kicking it off with A robot shares a big
Speaker 3: move here today, down seventy three percent. The company that
Speaker 3: makes a robot vacuum cleaner's file for bankruptcy propose handling
Speaker 3: control to its Chinese supplier, Sends and Robotics. This was
Speaker 3: somewhat expected, as they warn't about a potential back see
Speaker 3: earlier this month, but the company has been struggling ever
Speaker 3: since its post COVID era. When shares spike there, it's
Speaker 3: hit by supply chain issues as well as cheaper competitors. Also,
Speaker 3: in twenty twenty two, they saw a deal from Amazon,
Speaker 3: who made an offer that would have turned the company's fortunes,
Speaker 3: but it apsed over a clash with EU competition authorities.
Speaker 3: So series of unfortunate events here leading to the downfall
Speaker 3: of I Robot and shares are down seventy three percent.
Speaker 3: Right now, all right, tell Yana, what's next? Next is
Speaker 3: a service?
Speaker 1: Now?
Speaker 3: The company shares are down ten percent. Tickers and W
Speaker 3: Bloomberg reports the enterprise software Companies and Advanced talks to
Speaker 3: buy a sub security startup Armies and, a deal that
Speaker 3: may be valued as much as seven billion dollars and
Speaker 3: would represent the tech company's largest acquisition to date. It's
Speaker 3: worth noting that representatives from both companies either declined or
Speaker 3: do not respond to comments. But analysts here are debating
Speaker 3: this deal. They see the benefits. However, they are calling
Speaker 3: the price tag quite pricey.
Speaker 2: I mean a tech analyst calling anything pricey, It's like,
Speaker 2: come on, you kidding me. We don't even quote it
Speaker 2: in multiples of earnings or ebithots multiples of revenue and
Speaker 2: seven to eight times revenue. Big deal?
Speaker 1: All right?
Speaker 3: One more and Costco is the final one. The shares
Speaker 3: are down two percent after Rawth Capital Partners cut the
Speaker 3: company's shares to sell from neutral. This caught my attention
Speaker 3: as we rarely see accelerating on anything these days, and
Speaker 3: the company has twenty four buys and fifteen holds. The
Speaker 3: analyst there saying that despite an earnings beat, he flags
Speaker 3: several underlying metrics are concerning, like renewal rates fading, paid
Speaker 3: members slowing, and store traffic decelerating on a year to
Speaker 3: year basis. And this is quite interesting given that we've
Speaker 3: seen sort of, you know, more value oriented consumers. But
Speaker 3: apparently it's also a factor of competition with the Sam's Club,
Speaker 3: BJ's Wholesale also seeing a lot more new business, and
Speaker 3: they see downside to seven hundred and sixty nine dollars,
Speaker 3: which would represent quite a big decline more than ten
Speaker 3: percent from where we're trading currently at eight hundred and
Speaker 3: sixty nine dollars this year.
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