1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,880 --> 00:00:19,720 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:19,720 --> 00:00:23,639 Speaker 3: I'm Nathan Hager and we're joined by Bloomberg's Valerie Titel 6 00:00:23,800 --> 00:00:26,960 Speaker 3: taking a look at some individual movers. With the broader 7 00:00:27,040 --> 00:00:29,880 Speaker 3: market not moving a whole lot this morning. But what's 8 00:00:29,920 --> 00:00:32,479 Speaker 3: going on with Planet Labs? Why is that on your 9 00:00:32,560 --> 00:00:33,200 Speaker 3: radar this morning? 10 00:00:33,240 --> 00:00:37,480 Speaker 1: Oh, it is jumping on strong demand of twenty four 11 00:00:37,600 --> 00:00:40,520 Speaker 1: percent pre market for Planet Labs. This is the Earth 12 00:00:40,600 --> 00:00:45,440 Speaker 1: imaging company. It saw its profit beat expectations, mostly due 13 00:00:45,640 --> 00:00:49,000 Speaker 1: to Europe hiking its defense spending in response to the 14 00:00:49,120 --> 00:00:52,560 Speaker 1: US pulling back from the continent. Earnings were one point 15 00:00:52,600 --> 00:00:55,640 Speaker 1: two million dollars in the first quarter. It's second profitable 16 00:00:55,720 --> 00:00:57,959 Speaker 1: quarter in a row, and came in better than analysts 17 00:00:57,960 --> 00:01:00,680 Speaker 1: had expected with a three million dollar loss. So a 18 00:01:00,720 --> 00:01:03,320 Speaker 1: big shock there on the earnings number. To the upside. 19 00:01:03,400 --> 00:01:06,520 Speaker 1: European demand first satellite data is higher now than it 20 00:01:06,640 --> 00:01:08,920 Speaker 1: was at the outset of the war in the Ukraine, 21 00:01:08,959 --> 00:01:11,920 Speaker 1: the CEO said in an interview. So that's Planet Labs. 22 00:01:12,120 --> 00:01:15,280 Speaker 1: That stock is up twenty four percent on strong earnings. 23 00:01:15,480 --> 00:01:17,880 Speaker 3: And we're seeing a big move to the downside for 24 00:01:18,120 --> 00:01:20,240 Speaker 3: the owner of Calvin Klein this morning. 25 00:01:20,480 --> 00:01:24,400 Speaker 1: Yeah, this is PVH down eight percent pre market trade. 26 00:01:24,400 --> 00:01:27,800 Speaker 1: The owner of Calvin Kline and Tommy Hill Figure cut 27 00:01:27,800 --> 00:01:31,280 Speaker 1: its annual profit outlook, citing the impact of tariffs on 28 00:01:31,400 --> 00:01:34,440 Speaker 1: shipments heading into the US, saying it face is an 29 00:01:34,560 --> 00:01:38,600 Speaker 1: estimated sixty five million dollar hit from tariffs. Its price 30 00:01:38,640 --> 00:01:42,240 Speaker 1: target was also lowered by Wills Fargo and BMO, with 31 00:01:42,319 --> 00:01:45,600 Speaker 1: some analysts seeing issues likely to persist through the first 32 00:01:45,680 --> 00:01:48,480 Speaker 1: half of twenty twenty six. That's PVH. The Calvin Kline 33 00:01:48,480 --> 00:01:50,760 Speaker 1: and Tommy Hill Figure parent down eight percent. 34 00:01:51,280 --> 00:01:54,160 Speaker 3: Well, it's not just Calvin Klein. This has kind of 35 00:01:54,160 --> 00:01:57,360 Speaker 3: been the week of low end retail earnings. We heard 36 00:01:57,360 --> 00:01:59,920 Speaker 3: from a Dollar General Dollar Tree this week and now 37 00:02:00,280 --> 00:02:01,720 Speaker 3: five below five. 38 00:02:01,640 --> 00:02:04,360 Speaker 1: Below those shares are up this morning, up six percent 39 00:02:04,840 --> 00:02:08,320 Speaker 1: on a first quarter beaten strong sales guidance. The discount 40 00:02:08,400 --> 00:02:11,880 Speaker 1: retailer posted better than expected quarterly results across the board, 41 00:02:12,240 --> 00:02:15,000 Speaker 1: and it asks this chorus of its peers. Both Dollar 42 00:02:15,080 --> 00:02:18,520 Speaker 1: General and Dollar Tree earlier this week said that they 43 00:02:18,560 --> 00:02:22,519 Speaker 1: had an influx of middle and upper income customers boosting 44 00:02:22,720 --> 00:02:24,760 Speaker 1: their sales. So it does seem like this trend of 45 00:02:24,800 --> 00:02:29,800 Speaker 1: consumers trading down to cheaper discount retailers is being seen 46 00:02:29,880 --> 00:02:33,840 Speaker 1: across the discount industry. They are expecting a profit squeeze 47 00:02:33,880 --> 00:02:37,239 Speaker 1: on the second half due to tariffs, but it seems 48 00:02:37,280 --> 00:02:40,320 Speaker 1: like the market didn't necessarily mind that comment. The price 49 00:02:40,400 --> 00:02:43,560 Speaker 1: target was raised at both JP Morgan and Wells Fargo 50 00:02:43,760 --> 00:02:47,360 Speaker 1: after results. That's the discount Realer five discount Retailer five 51 00:02:47,400 --> 00:02:49,800 Speaker 1: below up six percent pre market. 52 00:02:49,720 --> 00:02:52,120 Speaker 3: And we're seeing a move in Tesla shares to the 53 00:02:52,160 --> 00:02:55,280 Speaker 3: downside this morning. Course, we've been talking a lot about 54 00:02:55,320 --> 00:02:58,840 Speaker 3: Elon Musk for reasons other than Tesla. Could that be 55 00:02:58,880 --> 00:02:59,799 Speaker 3: part of the move here. 56 00:03:00,160 --> 00:03:02,320 Speaker 1: Yeah, that's right. I mean it could be, Nathan that 57 00:03:02,360 --> 00:03:05,160 Speaker 1: the shares are underperforming the broader market. The broader market 58 00:03:05,240 --> 00:03:08,920 Speaker 1: is unchanged. Tesla shares are down one point seven percent today, 59 00:03:09,000 --> 00:03:12,120 Speaker 1: putting it on track for its fourth loss in five days. 60 00:03:12,440 --> 00:03:15,200 Speaker 1: The Tesla share did decline a lot yesterday. It was 61 00:03:15,240 --> 00:03:18,960 Speaker 1: down three point six percent, falling disappointing sales data in 62 00:03:19,120 --> 00:03:22,000 Speaker 1: China and Germany also weighing on that stock. Is what 63 00:03:22,040 --> 00:03:25,600 Speaker 1: you mentioned the growing split between Tesla CEO Elon Musk 64 00:03:25,639 --> 00:03:28,920 Speaker 1: and President Donald Trump, especially around the spending in this 65 00:03:29,040 --> 00:03:31,480 Speaker 1: tax bill. He has been quite vocal on Twitter in 66 00:03:31,480 --> 00:03:34,519 Speaker 1: the last a few days. That's Tesla shares underperforming down 67 00:03:34,520 --> 00:03:35,560 Speaker 1: one point seven percent. 68 00:03:35,760 --> 00:03:37,840 Speaker 3: And just quickly, what's going on with lands End that 69 00:03:37,960 --> 00:03:38,800 Speaker 3: sucks popping? 70 00:03:39,560 --> 00:03:42,480 Speaker 1: You know, that is a great question. This lands End 71 00:03:42,560 --> 00:03:45,160 Speaker 1: is up nearly eight percent, even though they just came 72 00:03:45,200 --> 00:03:49,480 Speaker 1: out with earnings at saul revenue miss and they also 73 00:03:49,720 --> 00:03:52,000 Speaker 1: was a slight mess on EPs, so I need to 74 00:03:52,000 --> 00:03:54,120 Speaker 1: dig into the story on that when Nathan and parsed 75 00:03:54,120 --> 00:03:56,680 Speaker 1: through those earnings details. So that's lands End up nearly 76 00:03:56,720 --> 00:03:57,240 Speaker 1: eight percent. 77 00:03:57,440 --> 00:03:58,880 Speaker 3: All right, Well, we'll look forward to that in the 78 00:03:58,880 --> 00:03:59,840 Speaker 3: next Stock with ers con. 79 00:04:00,440 --> 00:04:05,160 Speaker 2: Thank you for this the Stockmovers podcast from Bloomberg Radio. 80 00:04:05,560 --> 00:04:07,920 Speaker 2: Check back with us throughout the day for the latest 81 00:04:07,960 --> 00:04:11,120 Speaker 2: roundup of companies making news on Wall Street and for 82 00:04:11,160 --> 00:04:15,040 Speaker 2: the latest market moving headlines. Listen to Bloomberg Radio Live, 83 00:04:15,480 --> 00:04:18,760 Speaker 2: catch us on YouTube, Bloomberg dot com, and on Applecarplay 84 00:04:18,760 --> 00:04:21,320 Speaker 2: and Android Auto with the Bloomberg Business app.