Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: 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, as we
Speaker 1: watch breaking earnings headlines crossing the Bloomberg terminal from under Armor, Dan,
Speaker 1: what are you seeing? Good morning, Good morning.
Speaker 3: Shares of under Armour ticker you AA are down about
Speaker 3: twelve percent in the pre market. They're hopping around. We've
Speaker 3: seen down five percent to down fifteen percent in this
Speaker 3: pre market volatility. That's as fourth quarter net revenue matches estimates.
Speaker 3: But that's coming with weakness in North America, that seven
Speaker 3: percent drop year over year in the region, that revenue
Speaker 3: figure coming in slightly below estimates. Some other regions seeing
Speaker 3: a bit more strength. MEA revenue up seven percent, APAC
Speaker 3: revenue up thirteen percent, and Latin revenue up twenty two percent.
Speaker 3: But that core US domestic revenue that is negative and
Speaker 3: that is setting the shares down. We're settling down around
Speaker 3: about thirteen percent down in the pre market.
Speaker 1: Okay, So while we watched those headlines continue to cross
Speaker 1: and check the investor reaction. If there's anything that's the
Speaker 1: opposite of a merger Monday, I guess that's what Tuesday
Speaker 1: is for eBay and game Stop.
Speaker 3: That's right, no merger here. So eBay has rejected Gamestop's
Speaker 3: fifty six billion dollar dollar offer, the CEO calling it
Speaker 3: quote neither credible nor attractive. Game Stop shares are down
Speaker 3: four percent in the pre market. eBay shares are down
Speaker 3: about one percent in the pre market. The offer was
Speaker 3: initially met with skepticism from markets, as GameStop has a
Speaker 3: market value of about ten billion dollars. That's less than
Speaker 3: a quarter of Ebays, so GameStop was trying to buy
Speaker 3: a much bigger company. The CEO of GameStop, Ryan Cohen,
Speaker 3: also hasn't fully explained how he'd pay for the acquisition.
Speaker 3: Going into this, eBay was all a volatile Yesterday we
Speaker 3: got some cryptic social media posts from Keith Gill aka
Speaker 3: Roaring Kitty. He was the key voice behind twenty twenty
Speaker 3: one meme rally that sent chairs up and down in
Speaker 3: postmarket pre market. So we've had a lot of volatility
Speaker 3: into this name come in with this news and GameStop
Speaker 3: eBay doesn't look like it will happen.
Speaker 1: Yeah, it doesn't look like it for sure. Turning back
Speaker 1: to some earning stories here, we've got a pretty positive
Speaker 1: result I think we can say for on Holdings. Is
Speaker 1: that right?
Speaker 3: That's right. It's a footwear company backed by Roger Federer.
Speaker 3: The ticker is o N and those shares are up
Speaker 3: one percent in the pre market, and that company is
Speaker 3: raising its profit outlook for the year. The company is
Speaker 3: benefiting from higher demand, including its new one hundred and
Speaker 3: seventy dollars cloud Tilt Remix, a lifestyle sneaker designed to
Speaker 3: target younger consumers. First quarter sales rose twenty six percent,
Speaker 3: and that was adjusting for currency impact. And again, just
Speaker 3: like we saw in under Armour, strong demand from APAC
Speaker 3: except on Holding seeing a sixty one percent jump there.
Speaker 3: The apparel business also helping growth with a fifty eight
Speaker 3: percent rise. So those shares are up off the back
Speaker 3: of that.
Speaker 1: And another earning story has led to the biggest decliner
Speaker 1: in the pre market this morning. That's Hymns and Hers.
Speaker 3: Tims and Hers ticker HIMS. Those shares are down fifteen
Speaker 3: percent after our first quarter loss and sales that missed estimates.
Speaker 3: Lost for the quarter came in at forty cents ago.
Speaker 3: That's first a profit of twenty cents a share a
Speaker 3: year ago. The company is switching strategies. It's now prioritizing
Speaker 3: partnership with Nova Nordisk and Eli Lilly to offer their
Speaker 3: weight loss drugs, and that's eating into profit compared to
Speaker 3: the generics the company is moving away from hims and
Speaker 3: Hers said that the pivot is resulting in a thirty
Speaker 3: five thirty three and a half million dollar restructuring charge.
Speaker 3: Investors not appreciating that.
Speaker 2: This morning this stock Mover's report from Bloomberg Radio. Check
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