Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, watching not
Speaker 1: just stocks on Wall Street, but stocks in Seoul after
Speaker 1: that historic sell off for the COSPY in South Korea.
Speaker 3: Good morning Dan, Good morning Nathan. That's right. So the
Speaker 3: COSTP fell over twelve percent for to worst day on record,
Speaker 3: and I'm watching a lot of those Korean names because
Speaker 3: that pain is continuing into the US pre market. So
Speaker 3: companies like LG Display, which is take our LPL is
Speaker 3: down ten percent, Korea Electric Power k EP down seven
Speaker 3: and a half percent, alongside POSTCOPKX. Those are also down
Speaker 3: seven and a half percent. So Korea got hit really hard.
Speaker 3: Eight hundred of the eighty thirty of the eight hundred
Speaker 3: and thirty six stocks in that index fell, But because
Speaker 3: it's been up so much, even after the twelve percent drop,
Speaker 3: the index is up twenty percent year to date. Compare
Speaker 3: that to the S and B five hundred, which is
Speaker 3: about flat on the year, and the two largest companies
Speaker 3: in that index Samsung sk Heinix, those memory chip companies
Speaker 3: are about forty percent of the index. That's been a
Speaker 3: big draw to the costb so that's really come back
Speaker 3: down today.
Speaker 1: Are we seeing a read through dan for some of
Speaker 1: those companies competitors in the US?
Speaker 3: No, So, sand Disk is up three percent, Micron is
Speaker 3: up three percent as well. In the US pre market,
Speaker 3: Memory has been somewhat somewhat protected from the selloff, even
Speaker 3: Samsung s k Heinix, the two members that I just
Speaker 3: mentioned in Korea, those rebounded after the creating close in
Speaker 3: late trading. So Memory hasn't died with the Korea rollover.
Speaker 3: It's just been some price at price taking out of
Speaker 3: Korea this morning after the massive climb.
Speaker 1: Okay keeping things overseas. Then I see Adidas or Audios
Speaker 1: or Power we're saying it now is on your list
Speaker 1: as well? What's happening with the apparel retailer. I'll go
Speaker 1: with Audi d Austince. I've been living in London for
Speaker 1: a few years, so that's going enough. I mean, that's
Speaker 1: just how I say it now. I guess yeah, So
Speaker 1: that stock is at a three year low. In German trading.
Speaker 1: The shares are down six percent. The company is projecting
Speaker 1: operating profit two point three billion euros that's about two
Speaker 1: point seven billion dollars for the year, well below estimates.
Speaker 3: It has a history of setting low bar for earnings,
Speaker 3: so some analysts are saying that might be overly pessimistic
Speaker 3: and that they may actually come out a little bit stronger.
Speaker 3: But that's really weighing on shares this morning. The company,
Speaker 3: trying to convey some security, has extended the contract with
Speaker 3: the CEO. He's the architect, the architect of the company's revamp.
Speaker 3: He's been at the helm for four years, so they're
Speaker 3: giving them more time to work on the turnaround. As
Speaker 3: the general sportswear industry is under law skepticism around growth.
Speaker 1: And you got your eye on GitLab as well. What's
Speaker 1: going on with that company.
Speaker 3: Yeah, so get Lab shares ticker GTLB down six percent
Speaker 3: in pre market. The software company developing company forecast for
Speaker 3: the current fiscal year. Earnings were below estimates. The company
Speaker 3: sees about eighty cents per share. The estimate was one
Speaker 3: oh six, so those shares are falling six percent. That's
Speaker 3: as we've seen a lot of weakness in the software space.
Speaker 3: Get Lab said bookings growth, that's potential revenue has not
Speaker 3: scaled with actual realized revenue, and so that's part of
Speaker 3: the reason that those forecasts are weaker than expected.
Speaker 1: Now, let's close things out dan with rass stores, because
Speaker 1: those stock, that stock's still moving after their earnings.
Speaker 3: That's right. So raw stare stores those that came out
Speaker 3: last night, but those shares are up in the pre
Speaker 3: market right now seven percent. Earnings per share came at
Speaker 3: two dollars versus a dollar eighty roughly. Estimate sales also stronger.
Speaker 3: Those shares are getting a nice bounce and create.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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