WEBVTT - Delta Pulls Guidance; Pharma Stocks Hit; Walmart Pushes Higher

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<v Speaker 1>Bloomberg Audio Studios podcasts, radio news, The Stock Movers podcast,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>Let's look at some stocks on the move today. We

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<v Speaker 2>are joined by Bloomberg's Critty Gupta on a choppy pre

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<v Speaker 2>market session for stocks as a whole creaty. That is

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<v Speaker 2>certainly what we are seeing at the micro level. For Delta,

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<v Speaker 2>they just reported earnings. What's the stock doing?

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<v Speaker 3>Good morning, Good morning, Nathan. We are getting the very

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<v Speaker 3>first inclination of companies starting to suspend their guidance. This

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<v Speaker 3>is a really big deal. I'm having a little bit

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<v Speaker 3>of COVID deja vous here because when you look at

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<v Speaker 3>some of these numbers, the earnings revisions are key to

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<v Speaker 3>that chart. You've seen massive numbers, massive hits to the

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<v Speaker 3>tech valuations. A lot of that is only if you

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<v Speaker 3>do indeed get those earnings revisions from these companies, or

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<v Speaker 3>like in COVID, you do get a suspension of the

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<v Speaker 3>guid of guidance there as well. So Delta DAL is

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<v Speaker 3>your ticker this morning, actually coming out of the gates

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<v Speaker 3>hire by about three percent. The market is buying this,

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<v Speaker 3>which is non traditional giving that they're withdrawing they're full

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<v Speaker 3>your guidance, calling it given current uncertainty. They're saying that

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<v Speaker 3>growth has largely stalled. But when you look at their

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<v Speaker 3>first quarter numbers, they are actually coming in line with expectation.

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<v Speaker 3>So the markets buying even just that is quite something

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<v Speaker 3>to witness because again, a very non traditional reaction for

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<v Speaker 3>really any company that would be suspending it's guidance. Let's

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<v Speaker 3>talk about some of the other weights in this market.

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<v Speaker 3>I think the story of the morning. Your pharma stocks

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<v Speaker 3>are taking the biggest beating this morning. I'm just going

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<v Speaker 3>to run through the laundry list of names this morning, Nathan,

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<v Speaker 3>if i can. Abby is top of that list.

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<v Speaker 1>ABBV is your.

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<v Speaker 3>Ticker down just shy of four percent this morning, one

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<v Speaker 3>hundred and sixty nine dollars to share, Abbot right on

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<v Speaker 3>its heels. ABT down about the same margin, trading at

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<v Speaker 3>one hundred and nineteen dollars a share.

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<v Speaker 1>There.

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<v Speaker 3>Then you've got Giliad Sciences as well, GILD down about

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<v Speaker 3>three percent. I'm seeing that their bonds are selling off

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<v Speaker 3>in a very big way this morning. Really keep an

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<v Speaker 3>eye on a on a stock simply because or some

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<v Speaker 3>of the kind of bonds that are trading. Credit seems

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<v Speaker 3>to be leading this equity market, So anything that has

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<v Speaker 3>a massive corporate bond hit is going to be magnified

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<v Speaker 3>in the equity market. You're seeing that with gilliad Sciences,

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<v Speaker 3>like I said, Gild down about three percent, Bristol Meyers

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<v Speaker 3>squib as well, Bmy down about three percent, trading at

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<v Speaker 3>fifty one dollars a share, and some of our favorites

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<v Speaker 3>there Pfizer PFE down a whopping three percent, trading at

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<v Speaker 3>twenty one dollars share. Nathan, I could go on and on.

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<v Speaker 3>The message this morning is if you are a pharmaceutical hit,

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<v Speaker 3>you are taking a massive hit when it comes to

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<v Speaker 3>your stock. And a lot of those lead actually by

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<v Speaker 3>some of the pain you've seen right here in Europe

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<v Speaker 3>as well. The likes of Nova Nordisks, for example, have

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<v Speaker 3>really been selling off this morning in Europe, alongside Roche

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<v Speaker 3>and Santa Fee as well. Nova Nordisk, I should mention

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<v Speaker 3>the ADRs also are available in the United States Envo

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<v Speaker 3>for that ticker, trading at about sixty dollars and change

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<v Speaker 3>down about one point two percent. I'll just mention that

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<v Speaker 3>about sixty percent of Nova Nordisk's revenue comes from the

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<v Speaker 3>United States, so this is a really great spot to

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<v Speaker 3>look at when you're talking about some of the movement

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<v Speaker 3>there in the pharmaceutical space. We're also getting some numbers

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<v Speaker 3>coming out of Walmart, several comments coming from the CEO

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<v Speaker 3>and the last twenty four hours thing that they're being

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<v Speaker 3>focused on keeping price as low, prices as low as

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<v Speaker 3>they possibly can, and really looking at some cost cutting measures.

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<v Speaker 3>They're reaffirming their first quarter sales guidance. In their full

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<v Speaker 3>year twenty twenty six guidance remains unchanged, so that's going

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<v Speaker 3>to be again another major one to watch, Nathan. For me,

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<v Speaker 3>Walmart's WMT is the tell those shares hire by two

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<v Speaker 3>percent this morning.

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<v Speaker 1>The Stock Movers podcast from Bloomberg Radio. Check back with

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