WEBVTT - Under Armour Miss; eBay Rejects GameStop; On Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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

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

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis, as we

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<v Speaker 1>watch breaking earnings headlines crossing the Bloomberg terminal from under Armor, Dan,

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<v Speaker 1>what are you seeing? Good morning, Good morning.

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<v Speaker 3>Shares of under Armour ticker you AA are down about

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<v Speaker 3>twelve percent in the pre market. They're hopping around. We've

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<v Speaker 3>seen down five percent to down fifteen percent in this

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<v Speaker 3>pre market volatility. That's as fourth quarter net revenue matches estimates.

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<v Speaker 3>But that's coming with weakness in North America, that seven

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<v Speaker 3>percent drop year over year in the region, that revenue

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<v Speaker 3>figure coming in slightly below estimates. Some other regions seeing

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<v Speaker 3>a bit more strength. MEA revenue up seven percent, APAC

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<v Speaker 3>revenue up thirteen percent, and Latin revenue up twenty two percent.

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<v Speaker 3>But that core US domestic revenue that is negative and

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<v Speaker 3>that is setting the shares down. We're settling down around

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<v Speaker 3>about thirteen percent down in the pre market.

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<v Speaker 1>Okay, So while we watched those headlines continue to cross

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<v Speaker 1>and check the investor reaction. If there's anything that's the

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<v Speaker 1>opposite of a merger Monday, I guess that's what Tuesday

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<v Speaker 1>is for eBay and game Stop.

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<v Speaker 3>That's right, no merger here. So eBay has rejected Gamestop's

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<v Speaker 3>fifty six billion dollar dollar offer, the CEO calling it

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<v Speaker 3>quote neither credible nor attractive. Game Stop shares are down

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<v Speaker 3>four percent in the pre market. eBay shares are down

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<v Speaker 3>about one percent in the pre market. The offer was

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<v Speaker 3>initially met with skepticism from markets, as GameStop has a

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<v Speaker 3>market value of about ten billion dollars. That's less than

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<v Speaker 3>a quarter of Ebays, so GameStop was trying to buy

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<v Speaker 3>a much bigger company. The CEO of GameStop, Ryan Cohen,

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<v Speaker 3>also hasn't fully explained how he'd pay for the acquisition.

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<v Speaker 3>Going into this, eBay was all a volatile Yesterday we

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<v Speaker 3>got some cryptic social media posts from Keith Gill aka

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<v Speaker 3>Roaring Kitty. He was the key voice behind twenty twenty

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<v Speaker 3>one meme rally that sent chairs up and down in

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<v Speaker 3>postmarket pre market. So we've had a lot of volatility

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<v Speaker 3>into this name come in with this news and GameStop

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<v Speaker 3>eBay doesn't look like it will happen.

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<v Speaker 1>Yeah, it doesn't look like it for sure. Turning back

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<v Speaker 1>to some earning stories here, we've got a pretty positive

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<v Speaker 1>result I think we can say for on Holdings. Is

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<v Speaker 1>that right?

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<v Speaker 3>That's right. It's a footwear company backed by Roger Federer.

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<v Speaker 3>The ticker is o N and those shares are up

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<v Speaker 3>one percent in the pre market, and that company is

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<v Speaker 3>raising its profit outlook for the year. The company is

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<v Speaker 3>benefiting from higher demand, including its new one hundred and

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<v Speaker 3>seventy dollars cloud Tilt Remix, a lifestyle sneaker designed to

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<v Speaker 3>target younger consumers. First quarter sales rose twenty six percent,

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<v Speaker 3>and that was adjusting for currency impact. And again, just

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<v Speaker 3>like we saw in under Armour, strong demand from APAC

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<v Speaker 3>except on Holding seeing a sixty one percent jump there.

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<v Speaker 3>The apparel business also helping growth with a fifty eight

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<v Speaker 3>percent rise. So those shares are up off the back

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<v Speaker 3>of that.

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<v Speaker 1>And another earning story has led to the biggest decliner

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<v Speaker 1>in the pre market this morning. That's Hymns and Hers.

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<v Speaker 3>Tims and Hers ticker HIMS. Those shares are down fifteen

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<v Speaker 3>percent after our first quarter loss and sales that missed estimates.

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<v Speaker 3>Lost for the quarter came in at forty cents ago.

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<v Speaker 3>That's first a profit of twenty cents a share a

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<v Speaker 3>year ago. The company is switching strategies. It's now prioritizing

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<v Speaker 3>partnership with Nova Nordisk and Eli Lilly to offer their

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<v Speaker 3>weight loss drugs, and that's eating into profit compared to

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<v Speaker 3>the generics the company is moving away from hims and

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<v Speaker 3>Hers said that the pivot is resulting in a thirty

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<v Speaker 3>five thirty three and a half million dollar restructuring charge.

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<v Speaker 3>Investors not appreciating that.

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<v Speaker 2>This morning this stock Mover's report from Bloomberg Radio. Check

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<v Speaker 2>back with us throughout the day for the latest roundup

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<v Speaker 2>of companies making news on Wall Street and for the

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