1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:16,079 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,119 Speaker 2: It's got to look at some of the stocks on 5 00:00:18,239 --> 00:00:21,160 Speaker 2: the move today. We can do that with Bloomberg's Carmen Reinikey, 6 00:00:21,280 --> 00:00:23,919 Speaker 2: Deputy team leader for US Equities. Carmer, what are you 7 00:00:23,920 --> 00:00:24,439 Speaker 2: looking at today? 8 00:00:24,640 --> 00:00:26,160 Speaker 3: Yeah, So the first one I think we're all looking 9 00:00:26,200 --> 00:00:28,800 Speaker 3: at is Meta ticker m ETA. So the stock is 10 00:00:28,840 --> 00:00:30,720 Speaker 3: at about four and a half percent right now. This 11 00:00:30,880 --> 00:00:34,320 Speaker 3: is the best day since July, end of July and 12 00:00:34,400 --> 00:00:37,320 Speaker 3: the highest since October thirty first. So obviously this is 13 00:00:37,400 --> 00:00:40,720 Speaker 3: happening because Zuckerberg said they're going to cut resources for 14 00:00:40,800 --> 00:00:43,839 Speaker 3: building the metaverse. I think investors have for sort of 15 00:00:43,880 --> 00:00:45,960 Speaker 3: a long time been critical of the metaverse and the 16 00:00:46,000 --> 00:00:49,320 Speaker 3: spending there. So this being met with some with some buying. 17 00:00:49,680 --> 00:00:51,720 Speaker 3: And also, you know, a really nice day for Meta. 18 00:00:51,760 --> 00:00:54,560 Speaker 3: It's had a pretty significant draw down. I was looking 19 00:00:54,600 --> 00:00:57,000 Speaker 3: and it was, you know, earlier this month, down twenty 20 00:00:57,080 --> 00:01:00,760 Speaker 3: five percent from its peak. So seeing some nice green 21 00:01:00,840 --> 00:01:01,000 Speaker 3: on this. 22 00:01:01,080 --> 00:01:04,120 Speaker 2: And this was a this is a green bee, which 23 00:01:04,200 --> 00:01:06,800 Speaker 2: means that is an exclusive We broke the broke the 24 00:01:06,920 --> 00:01:11,200 Speaker 2: news Kurt Wagner Bloomberg News, breaking this news, moving the 25 00:01:11,319 --> 00:01:14,240 Speaker 2: stock here with some big news which I think people 26 00:01:14,480 --> 00:01:16,600 Speaker 2: if you're I think if you're from a Facebook slash 27 00:01:16,680 --> 00:01:19,040 Speaker 2: meta investor, you're like, I'm just not sure about the 28 00:01:19,120 --> 00:01:22,360 Speaker 2: return on investment on this metaverse. So extend you can 29 00:01:22,440 --> 00:01:24,600 Speaker 2: scale it back, that's a good thing. And we're seeing 30 00:01:24,640 --> 00:01:26,200 Speaker 2: that with move in the stock today. I think I 31 00:01:26,240 --> 00:01:27,560 Speaker 2: think that's what the stock's telling us. 32 00:01:27,920 --> 00:01:28,480 Speaker 1: What else you got? 33 00:01:28,760 --> 00:01:31,920 Speaker 3: Yeah, So also looking at some earnings here, So looking 34 00:01:31,959 --> 00:01:36,000 Speaker 3: at Snowflake, this is ticker snow shares are down almost 35 00:01:36,040 --> 00:01:37,800 Speaker 3: ten percent right now. This is actually the worst day 36 00:01:37,920 --> 00:01:41,319 Speaker 3: since April fourth, so you know our Liberation Day sell off. 37 00:01:42,080 --> 00:01:45,400 Speaker 3: The software company gave an outlook for operating margin that 38 00:01:45,560 --> 00:01:48,800 Speaker 3: was short of analystic expectations, and I mean this has 39 00:01:48,840 --> 00:01:50,800 Speaker 3: actually been a big sort of point and a lot 40 00:01:50,840 --> 00:01:54,840 Speaker 3: of these tech stocks, you know, profitability is important. Investors 41 00:01:54,880 --> 00:01:57,200 Speaker 3: want to make sure these companies aren't overspending and that 42 00:01:57,280 --> 00:01:59,120 Speaker 3: it's not eating into the profits. So we're seeing this 43 00:01:59,200 --> 00:02:02,400 Speaker 3: a little bit with with Snowflake. Companies still up really 44 00:02:02,480 --> 00:02:05,160 Speaker 3: strongly though fifty five percent you're to date. 45 00:02:05,320 --> 00:02:08,080 Speaker 4: Yeah, really see some interesting moves there, but we are 46 00:02:08,120 --> 00:02:10,840 Speaker 4: seeing double digit losses, as you called out as we speak. 47 00:02:11,200 --> 00:02:12,400 Speaker 4: What else you have your eyes on, Carmen. 48 00:02:12,560 --> 00:02:14,239 Speaker 3: Yeah, so looking a little bit at the health of 49 00:02:14,280 --> 00:02:17,919 Speaker 3: the consumer working a Dollar General, so that's ticker. DG 50 00:02:18,280 --> 00:02:20,840 Speaker 3: shares are up almost nine percent right now. This is 51 00:02:20,880 --> 00:02:23,400 Speaker 3: the best day since June and the highest since the 52 00:02:23,480 --> 00:02:27,720 Speaker 3: end of August. So they boosted their outlook on their 53 00:02:27,760 --> 00:02:30,640 Speaker 3: own earnings and basically they say that, you know, value 54 00:02:30,680 --> 00:02:35,200 Speaker 3: focused retailers are winning over consumers. So we're seeing sort 55 00:02:35,200 --> 00:02:38,280 Speaker 3: of the consumer trade down look for more value in 56 00:02:38,320 --> 00:02:41,280 Speaker 3: their shopping and so companies like Dollar General are really 57 00:02:41,320 --> 00:02:42,040 Speaker 3: benefiting from that. 58 00:02:42,360 --> 00:02:44,040 Speaker 4: And it's interesting how we've really been seeing that just 59 00:02:44,080 --> 00:02:46,679 Speaker 4: across the board, both the lower end consumer and the 60 00:02:46,800 --> 00:02:49,960 Speaker 4: higher end consumers trading down. So I mean, we are 61 00:02:49,960 --> 00:02:52,720 Speaker 4: still also seeing that consumer resilience, whether it's Macy's or 62 00:02:52,880 --> 00:02:53,519 Speaker 4: Dollar General. 63 00:02:53,680 --> 00:02:55,960 Speaker 3: Really interesting story, but a really important, you know, point 64 00:02:56,040 --> 00:02:58,079 Speaker 3: on the health of the consumer and the economy. 65 00:02:59,440 --> 00:03:03,640 Speaker 1: The Stockmover's Report from Bloomberg Radio. Check back with us 66 00:03:03,720 --> 00:03:06,480 Speaker 1: throughout the day for the latest roundup of companies making 67 00:03:06,600 --> 00:03:10,160 Speaker 1: news on Wall Street and for the latest market moving headlines. 68 00:03:10,400 --> 00:03:14,399 Speaker 1: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg 69 00:03:14,480 --> 00:03:17,519 Speaker 1: dot com, and on Applecarplay and Android Auto with the 70 00:03:17,560 --> 00:03:18,880 Speaker 1: Bloomberg Business app.