WEBVTT - Take-Two Drops, Apple Falls, Five Below Jumps on Positive Forecasts

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers podcast, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data. Let's

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<v Speaker 2>take it.

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<v Speaker 1>We'll get some of the stocks on the move today.

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<v Speaker 1>For that, we're joined by Bloomberg's Carmen Ranicky. Let's start

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<v Speaker 1>with Take two. So, I mean, first of all, do

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<v Speaker 1>we really need a Grand Theft Auto six? Can I

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<v Speaker 1>shay that out loud?

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<v Speaker 2>Oh?

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<v Speaker 1>No, email's coming in.

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<v Speaker 3>I don't know a lot about video games. It's like

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<v Speaker 3>part of childhood that I just completely missed out on.

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<v Speaker 3>But I know Grand Theft Auto on. You know, it's

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<v Speaker 3>super popular and everyone's.

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<v Speaker 2>Treasure shoot out to hijack a car. Sure.

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<v Speaker 1>Cool.

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<v Speaker 3>But so Take two ticker t t wo shares are

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<v Speaker 3>down seven percent. Is like the worst intra date drop

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<v Speaker 3>since early April. Basically, yeah, they delayed the release of

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<v Speaker 3>this game. It was supposed to be in the fall,

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<v Speaker 3>and now it looks like it will be in May

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<v Speaker 3>twenty six. So Wall Street analysts were actually pretty positive

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<v Speaker 3>on this. Some said that now that there's actually a date,

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<v Speaker 3>they feel a lot better about it. Until there was

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<v Speaker 3>a you know, actual solid date on the calendar. They

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<v Speaker 3>felt that like further delays were always possible. So even

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<v Speaker 3>though stock is down there, most of the analysts were

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<v Speaker 3>still pretty positive on it. Take two and yeah, I

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<v Speaker 3>think the public's really really waiting for GTA six.

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<v Speaker 1>I remember back in my day, I did I think

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<v Speaker 1>it was granted at that Botto something, And I did

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<v Speaker 1>the whole overnight thing with the line outside some game

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<v Speaker 1>stop in the middle of midtown with a camera talking

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<v Speaker 1>to people man on the street, bringing back those memories gamer.

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<v Speaker 2>No I was doing for work? Oh for work?

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<v Speaker 1>Yeah? No, god no, no, I was at the camera

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<v Speaker 1>talking to people, doing man on the street stuff for that.

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<v Speaker 2>Yeah, there we go.

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<v Speaker 1>Let's also hit Apple here. So we're looking at a

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<v Speaker 1>couple downgrades.

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<v Speaker 3>Yeah, so there are two downgrades this morning for Apple.

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<v Speaker 3>The first was from Jeffreys, which cut its rating to underperform,

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<v Speaker 3>which is a rare perish view on the stuff. I

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<v Speaker 3>think it has at least to underperform or sort of

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<v Speaker 3>sell ratings. The rest of the street is, you know,

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<v Speaker 3>rather bullish on shares of Apple. Rosenblat Securities also cut

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<v Speaker 3>its rating from buy to neutral. Basically, this comes after

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<v Speaker 3>earnings that just weren't enough to sort of asswitche some

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<v Speaker 3>of like investors' fears around the escalating tariff situation and

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<v Speaker 3>a slow down in growth in China. Apple said that

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<v Speaker 3>it expects the tariffs to boost costs by nine hundred

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<v Speaker 3>million in the current period, and analysts really pushed Tim

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<v Speaker 3>Cook on the call for any indication beyond the current period,

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<v Speaker 3>which he really would not give. So there's a big

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<v Speaker 3>question mark there as to, you know, how much it

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<v Speaker 3>could hurt Apple if if the tariffs sort of escalate

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<v Speaker 3>and continue, and how long that goes on. So two

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<v Speaker 3>downgrades is pretty pretty big deal for Apple. Shares are

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<v Speaker 3>down more than four percent today.

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<v Speaker 1>And let's go to five below. So if we take

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<v Speaker 1>a look at Bloomberg intelligen Is tariff matrix, five below

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<v Speaker 1>was one of the companies that got hit the hardest

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<v Speaker 1>in terms of getting having to pass on cost increases.

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<v Speaker 3>What do we learned today though, Yeah, so they gave

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<v Speaker 3>preliminary earnings shares about more than six and a half

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<v Speaker 3>percent the best in about a week. They raised their

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<v Speaker 3>forecast for first quarter sales and profit, which really goes

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<v Speaker 3>against sort of this idea that they're going to get

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<v Speaker 3>hit super hard. By tariff, so they'll obviously the quarter

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<v Speaker 3>reflects sort of before when the tariffs are really getting going. Basically,

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<v Speaker 3>it seems like a strong Easter holiday, which fell in

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<v Speaker 3>April this year, is going to help out five below,

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<v Speaker 3>as well as actually consumers pulling forward some of their

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<v Speaker 3>spending because they're anticipating price increases because of tariff. So

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<v Speaker 3>I think that's really interesting that, you know, they're they're

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<v Speaker 3>expecting people to kind of stock up ahead of time.

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<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the latest market

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