WEBVTT - Once Upon a Farm Tumbles, Ulta Beauty Sinks, Adobe Falls After CEO Steps Down

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I want to take a look now at some stocks

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<v Speaker 3>on the move. I'm Alexis Christophus along with Isabell Lay.

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<v Speaker 3>We are in for Paul Sweety and Scarlett Food holding

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<v Speaker 3>down the fort here at Bloomberg headquarters, and we are

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<v Speaker 3>joined by Bloomberg's Avalon Pernell for a look at some

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<v Speaker 3>of those stocks on the move. Once upon a Farm,

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<v Speaker 3>so this is the company that actress Jennifer Garner is involved.

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<v Speaker 3>But she co founded it, didn't she.

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<v Speaker 1>Yes, she did. She co founded it in twenty seventeen

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<v Speaker 1>to offer healthier baby food which once upon a time

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<v Speaker 1>that's ticker OFRM. It's down about fourteen percent today. That's

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<v Speaker 1>after the snack company forecast sales growth for the year

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<v Speaker 1>that was a little bit slower than expected in its

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<v Speaker 1>first earnings report as a public company. And JP Morgan's

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<v Speaker 1>also saying that while the gross margins did come in

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<v Speaker 1>a little bit light, sure on the stock may actually

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<v Speaker 1>be more because of like a reflection of greater confidence

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<v Speaker 1>in the food space. More specifically, earlier this week, we

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<v Speaker 1>saw Campbell's hit its lowest level since.

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<v Speaker 3>Two thousand and three.

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<v Speaker 1>APT Yeah, a delayed snack recovery could also be hitting

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<v Speaker 1>other companies like Once upon a Farm.

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<v Speaker 2>What's going on in Alta?

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<v Speaker 1>You know, I've only been to Alta at least once

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<v Speaker 1>in my life, I think.

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<v Speaker 3>Really only once everywhere in the city. John Hucker's been

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<v Speaker 3>in there more than you.

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<v Speaker 2>I've been more. Yeah, it's just like I'm always I

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<v Speaker 2>was dragged in. I didn't go in for mylos entirely

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<v Speaker 2>or not.

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<v Speaker 1>Yes, you've been more than me.

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<v Speaker 2>What's going on with the stock?

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<v Speaker 1>Yes, Alta beauty ticker ALTA falling about nine point seven

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<v Speaker 1>percent today, most inter day since twenty twenty four, making

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<v Speaker 1>it one of the worst performers on the S and

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<v Speaker 1>P five hundred today. That's after it reported earnings per

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<v Speaker 1>share for the fourth quarter that was a little bit

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<v Speaker 1>short of expectations and also the midpoint of its full

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<v Speaker 1>year EPs forecast also miss estimates. That being said, the

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<v Speaker 1>expectations were really high. The stock has been up nearly

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<v Speaker 1>one hundred percent in the last year as of yesterday's close.

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<v Speaker 1>So Tdcohen said their shares were most likely just held

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<v Speaker 1>back as investors digested a slightly softered and expected for

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<v Speaker 1>your guidance, but important to recognize that they're known for

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<v Speaker 1>having guidance. It's slightly more conservative at the start of

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<v Speaker 1>the year.

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<v Speaker 3>Okay, good to know. And also Adobe change of the

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<v Speaker 3>guard there at the top. They're longtime CEO stepping down.

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<v Speaker 3>I don't think Wall Street likes it.

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<v Speaker 1>You're right. Adobe ticker ADB sliding about six point two

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<v Speaker 1>percent right now. That's after the maker of software for

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<v Speaker 1>creative professionals said that one as you mentioned, the CEO

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<v Speaker 1>will resign. And also there's just across the board a

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<v Speaker 1>lot of skepticism about how the company will survive amid

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<v Speaker 1>this AI era. What will that look like? Adobe's spin

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<v Speaker 1>hit by a lot of questions, especially like other software

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<v Speaker 1>developers looking at Salesforce as an example, how will they survive?

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<v Speaker 1>We don't quite know yet, and it seems like investors

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<v Speaker 1>remain skeptical.

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

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