Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
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Speaker 2: It's got to look at some of the stocks on
Speaker 2: the move today. We can do that with Bloomberg's Carmen Reinikey,
Speaker 2: Deputy team leader for US Equities. Carmer, what are you
Speaker 2: looking at today?
Speaker 3: Yeah, So the first one I think we're all looking
Speaker 3: at is Meta ticker m ETA. So the stock is
Speaker 3: at about four and a half percent right now. This
Speaker 3: is the best day since July, end of July and
Speaker 3: the highest since October thirty first. So obviously this is
Speaker 3: happening because Zuckerberg said they're going to cut resources for
Speaker 3: building the metaverse. I think investors have for sort of
Speaker 3: a long time been critical of the metaverse and the
Speaker 3: spending there. So this being met with some with some buying.
Speaker 3: And also, you know, a really nice day for Meta.
Speaker 3: It's had a pretty significant draw down. I was looking
Speaker 3: and it was, you know, earlier this month, down twenty
Speaker 3: five percent from its peak. So seeing some nice green
Speaker 3: on this.
Speaker 2: And this was a this is a green bee, which
Speaker 2: means that is an exclusive We broke the broke the
Speaker 2: news Kurt Wagner Bloomberg News, breaking this news, moving the
Speaker 2: stock here with some big news which I think people
Speaker 2: if you're I think if you're from a Facebook slash
Speaker 2: meta investor, you're like, I'm just not sure about the
Speaker 2: return on investment on this metaverse. So extend you can
Speaker 2: scale it back, that's a good thing. And we're seeing
Speaker 2: that with move in the stock today. I think I
Speaker 2: think that's what the stock's telling us.
Speaker 1: What else you got?
Speaker 3: Yeah, So also looking at some earnings here, So looking
Speaker 3: at Snowflake, this is ticker snow shares are down almost
Speaker 3: ten percent right now. This is actually the worst day
Speaker 3: since April fourth, so you know our Liberation Day sell off.
Speaker 3: The software company gave an outlook for operating margin that
Speaker 3: was short of analystic expectations, and I mean this has
Speaker 3: actually been a big sort of point and a lot
Speaker 3: of these tech stocks, you know, profitability is important. Investors
Speaker 3: want to make sure these companies aren't overspending and that
Speaker 3: it's not eating into the profits. So we're seeing this
Speaker 3: a little bit with with Snowflake. Companies still up really
Speaker 3: strongly though fifty five percent you're to date.
Speaker 4: Yeah, really see some interesting moves there, but we are
Speaker 4: seeing double digit losses, as you called out as we speak.
Speaker 4: What else you have your eyes on, Carmen.
Speaker 3: Yeah, so looking a little bit at the health of
Speaker 3: the consumer working a Dollar General, so that's ticker. DG
Speaker 3: shares are up almost nine percent right now. This is
Speaker 3: the best day since June and the highest since the
Speaker 3: end of August. So they boosted their outlook on their
Speaker 3: own earnings and basically they say that, you know, value
Speaker 3: focused retailers are winning over consumers. So we're seeing sort
Speaker 3: of the consumer trade down look for more value in
Speaker 3: their shopping and so companies like Dollar General are really
Speaker 3: benefiting from that.
Speaker 4: And it's interesting how we've really been seeing that just
Speaker 4: across the board, both the lower end consumer and the
Speaker 4: higher end consumers trading down. So I mean, we are
Speaker 4: still also seeing that consumer resilience, whether it's Macy's or
Speaker 4: Dollar General.
Speaker 3: Really interesting story, but a really important, you know, point
Speaker 3: on the health of the consumer and the economy.
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