WEBVTT - Meta Soars, eBay Gains, Shake Shack Plunges

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.600
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:17.040 --> 0:00:19.560
<v Speaker 1>I'm Carol Messer along with Tim Stanevik. Let's get though

0:00:19.640 --> 0:00:22.520
<v Speaker 1>to some particular stocks on the move with us as

0:00:22.520 --> 0:00:26.960
<v Speaker 1>Bloomberg News process A reporter Danitza Sokova. Meta gotta talk

0:00:26.960 --> 0:00:27.520
<v Speaker 1>about Meta.

0:00:27.600 --> 0:00:29.480
<v Speaker 3>It is just soaring.

0:00:30.000 --> 0:00:31.040
<v Speaker 1>It's unbelievable.

0:00:31.240 --> 0:00:35.240
<v Speaker 4>It's incredible. Gainsurfading, but definitely Meta is holding. Of course,

0:00:35.280 --> 0:00:36.839
<v Speaker 4>the degree is m ETA.

0:00:36.960 --> 0:00:39.360
<v Speaker 3>It's some nearly twelve percent. We saw so many of

0:00:39.360 --> 0:00:40.519
<v Speaker 3>the names that were up.

0:00:40.600 --> 0:00:43.280
<v Speaker 4>Kind of felt a lot of pressure, but Metal is

0:00:43.280 --> 0:00:46.520
<v Speaker 4>still soaring it Chris expectations, of course, is coming off

0:00:46.640 --> 0:00:49.239
<v Speaker 4>the earnings report. There was so much excitement. There were

0:00:49.280 --> 0:00:52.080
<v Speaker 4>so many upgrades. I cannot even keep up with the numbers.

0:00:52.080 --> 0:00:54.840
<v Speaker 4>We have JP Morgan, we have AGESBC and we're not

0:00:54.920 --> 0:00:57.840
<v Speaker 4>talking about like a small price target of grade like

0:00:58.080 --> 0:01:02.320
<v Speaker 4>HSBC upgraded from six hundred and ten dollars to nine hundred,

0:01:02.800 --> 0:01:05.440
<v Speaker 4>So things are moving very fast. Obviously, you had good

0:01:05.480 --> 0:01:10.640
<v Speaker 4>reports from Microsoft. It hit four tritium first for some time,

0:01:10.720 --> 0:01:15.120
<v Speaker 4>so incredible incredible optimism there. Of course, all those big

0:01:15.160 --> 0:01:18.560
<v Speaker 4>tech companies, including Meta, including Microsoft, they're relying on their

0:01:18.920 --> 0:01:23.280
<v Speaker 4>legacy businesses to fund their pursuits of AI, and that's

0:01:23.319 --> 0:01:26.679
<v Speaker 4>paying off, but also operating margins rows to forty three

0:01:26.720 --> 0:01:28.320
<v Speaker 4>percent in Meta.

0:01:27.800 --> 0:01:29.400
<v Speaker 3>So we're seeing some profitability.

0:01:29.440 --> 0:01:32.399
<v Speaker 4>It's not just about AI spending, and it's paying off.

0:01:32.440 --> 0:01:36.040
<v Speaker 4>The companies up thirty three percent year today. Incredible, right,

0:01:36.040 --> 0:01:37.120
<v Speaker 4>it's unbelievable.

0:01:37.240 --> 0:01:40.360
<v Speaker 1>Rosenblat Security is I looked at some of the what

0:01:40.440 --> 0:01:44.080
<v Speaker 1>the analyst price targets were. Rosenblood Security has the street

0:01:44.160 --> 0:01:47.840
<v Speaker 1>high according to Bloomberg Data of one thousand eighty six

0:01:48.040 --> 0:01:51.400
<v Speaker 1>dollars a share, and Meta right now at around seven

0:01:51.520 --> 0:01:53.240
<v Speaker 1>seven seven a share.

0:01:53.680 --> 0:01:56.000
<v Speaker 3>It's just off and running, off and running.

0:01:56.800 --> 0:02:01.440
<v Speaker 5>It looks like investors at this point areding the increase

0:02:01.560 --> 0:02:06.000
<v Speaker 5>in spend on capex, the paying big money for that

0:02:06.080 --> 0:02:08.880
<v Speaker 5>AI talent, and then also all the investments that they're

0:02:08.919 --> 0:02:11.560
<v Speaker 5>making in AI, even though, as man Deep Sing of

0:02:11.560 --> 0:02:15.960
<v Speaker 5>Bloomberg Intelligence has explained, we're still not necessarily seeing the

0:02:16.000 --> 0:02:17.600
<v Speaker 5>results of that spend at this point.

0:02:17.800 --> 0:02:20.080
<v Speaker 3>For sure, it's just the beginning, but they're happy to

0:02:20.120 --> 0:02:20.520
<v Speaker 3>pay up.

0:02:21.120 --> 0:02:24.280
<v Speaker 1>I would really a shameless plug, I can be like

0:02:24.280 --> 0:02:26.600
<v Speaker 1>Matt Miller, I would highly recommend everybody check out our

0:02:26.639 --> 0:02:28.520
<v Speaker 1>podcast feed and some of the conversations we had with

0:02:28.600 --> 0:02:31.920
<v Speaker 1>Mandep yesterday after the earnings, and then of course in

0:02:31.960 --> 0:02:35.320
<v Speaker 1>today's trade, because really killer, what's really interesting is the

0:02:35.400 --> 0:02:37.200
<v Speaker 1>number one gainer in the S and P five hundred

0:02:37.400 --> 0:02:39.880
<v Speaker 1>is not Meta, it's eBay.

0:02:40.040 --> 0:02:42.080
<v Speaker 3>Talk to us about eBay. Ticker, of course is the

0:02:42.120 --> 0:02:42.760
<v Speaker 3>company's name.

0:02:43.000 --> 0:02:46.720
<v Speaker 4>Yeah, obviously company with a much smaller scale, but a

0:02:46.960 --> 0:02:50.120
<v Speaker 4>very important one showing us a lot about what's happening

0:02:50.120 --> 0:02:50.919
<v Speaker 4>with consumers.

0:02:51.120 --> 0:02:52.880
<v Speaker 3>Shares jumped nineteen percent.

0:02:52.960 --> 0:02:57.120
<v Speaker 4>The company projected sales that top analyst estimates. If we

0:02:57.120 --> 0:03:00.080
<v Speaker 4>look at the second quarter profit, pretty good number. There

0:03:00.160 --> 0:03:02.920
<v Speaker 4>was one door thirty seven a share, which is seven

0:03:03.000 --> 0:03:07.080
<v Speaker 4>cents the more the treat expected. We're seeing some optimism

0:03:07.200 --> 0:03:10.880
<v Speaker 4>for consumer resilience all The one metric that did particularly

0:03:10.880 --> 0:03:14.200
<v Speaker 4>well was the sale of used and refurbished goods, which

0:03:14.240 --> 0:03:17.120
<v Speaker 4>you can argue that it is not necessarily the healthy

0:03:17.120 --> 0:03:18.080
<v Speaker 4>assigns for consumer.

0:03:18.120 --> 0:03:20.200
<v Speaker 3>Clearly there is some caution there.

0:03:20.240 --> 0:03:24.720
<v Speaker 4>Purchasing power from US consumers grew and helped offset demand

0:03:24.800 --> 0:03:28.359
<v Speaker 4>from European market, so clearly maybe the US consumer is

0:03:28.360 --> 0:03:31.040
<v Speaker 4>a little bit stronger than when we're seeing overseas. When

0:03:31.080 --> 0:03:32.919
<v Speaker 4>we look at the stock, it has gained more than

0:03:32.960 --> 0:03:34.239
<v Speaker 4>forty percent this year.

0:03:34.400 --> 0:03:39.040
<v Speaker 3>Just incredible rally. Yeah, it keeps going. Yeah, it's pretty incredible.

0:03:39.320 --> 0:03:42.600
<v Speaker 5>I like the sort of macroeconomic look there and maybe

0:03:42.720 --> 0:03:46.560
<v Speaker 5>using it as an indicator. Okay, finally, Shakeshack, let's talk burgers.

0:03:46.720 --> 0:03:49.960
<v Speaker 3>That's probably the opposite economic. It's again the consumer. But

0:03:50.040 --> 0:03:52.520
<v Speaker 3>we saw shake shackslum fourteen percent.

0:03:53.160 --> 0:03:56.560
<v Speaker 4>It forked us a third quarter revenue that failblo expectation,

0:03:57.200 --> 0:04:00.920
<v Speaker 4>and we're talking about inflation and we're talking about diners.

0:04:00.920 --> 0:04:05.320
<v Speaker 4>The ticker, of course is Shak. The company has pledged

0:04:05.440 --> 0:04:07.720
<v Speaker 4>rump up. Piece of new product launches. We have some

0:04:07.800 --> 0:04:10.640
<v Speaker 4>interesting one wach Fried pickles. I don't know how bullish

0:04:10.640 --> 0:04:12.920
<v Speaker 4>I am on that. But they also have a Dubai

0:04:13.760 --> 0:04:15.720
<v Speaker 4>chocolate shake which was very popular.

0:04:16.520 --> 0:04:17.360
<v Speaker 3>That said, that's.

0:04:17.440 --> 0:04:19.200
<v Speaker 1>Buy chocolate is everywhere.

0:04:19.279 --> 0:04:22.600
<v Speaker 3>It's so big. It's not the world trade. It's oh

0:04:22.640 --> 0:04:22.880
<v Speaker 3>my god.

0:04:22.880 --> 0:04:25.200
<v Speaker 1>There's a BusinessWeek story on it. You should check it out.

0:04:25.480 --> 0:04:26.440
<v Speaker 1>Do you buy chocolate?

0:04:26.600 --> 0:04:29.520
<v Speaker 3>I'd like to eat some chocolate next time?

0:04:29.640 --> 0:04:30.279
<v Speaker 1>Yeah, next time.

0:04:30.279 --> 0:04:32.080
<v Speaker 3>Sorry, sacud prices are going to continue.

0:04:32.160 --> 0:04:32.520
<v Speaker 1>Sorry.

0:04:32.640 --> 0:04:35.440
<v Speaker 3>The company said that its effort our showing promise.

0:04:35.800 --> 0:04:38.680
<v Speaker 4>They're trying to keep lists on costs, but clearly that's

0:04:38.720 --> 0:04:40.640
<v Speaker 4>not enough to lift sentiment.

0:04:40.720 --> 0:04:43.080
<v Speaker 3>One metric that clearly is weighing it.

0:04:43.200 --> 0:04:46.919
<v Speaker 4>Sales at established restaurant climb less than what Alice are respecting.

0:04:47.080 --> 0:04:48.440
<v Speaker 3>Shake Check is down five percent.

0:04:48.480 --> 0:04:53.800
<v Speaker 2>Here today the Stock Mover's report from Bloomberg Radio. Check

0:04:53.839 --> 0:04:56.200
<v Speaker 2>back with us throughout the day for the latest roundup

0:04:56.240 --> 0:04:59.159
<v Speaker 2>of companies making news on Wall Street and for the

0:04:59.240 --> 0:05:03.680
<v Speaker 2>latest market moving headlines. Listen to Bloomberg Radio Live, catch

0:05:03.760 --> 0:05:07.240
<v Speaker 2>us on YouTube, Bloomberg dot com, and on Applecarplay and

0:05:07.240 --> 0:05:09.640
<v Speaker 2>Android Auto with the Bloomberg Business app.