1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,920 --> 00:00:19,200 Speaker 1: I'm Carol Master along with Tim Steeneviick. Let's get to 5 00:00:19,400 --> 00:00:21,720 Speaker 1: some of the stocks on the move at this hour. 6 00:00:21,760 --> 00:00:24,720 Speaker 1: Bloomberg News process at Reporter Emily Garfeo is in the 7 00:00:24,800 --> 00:00:27,360 Speaker 1: house and she's starting with one that we're talking about 8 00:00:27,400 --> 00:00:27,960 Speaker 1: a lot today. 9 00:00:28,080 --> 00:00:30,280 Speaker 3: Yeah, I know you guys have probably talked about Tesla, 10 00:00:30,560 --> 00:00:33,000 Speaker 3: okay many times today and also after the bell, but 11 00:00:33,080 --> 00:00:35,720 Speaker 3: it's a big story because not only is it a 12 00:00:35,840 --> 00:00:39,600 Speaker 3: massive company, but it's a really big stock move. Today 13 00:00:39,640 --> 00:00:43,279 Speaker 3: it's down nine percent, biggest drop since June, wiping out 14 00:00:43,320 --> 00:00:45,840 Speaker 3: about ninety billion dollars in market cap. 15 00:00:46,120 --> 00:00:46,600 Speaker 1: That's real. 16 00:00:46,800 --> 00:00:50,240 Speaker 3: These losses hold into the clothes. What it was really 17 00:00:50,280 --> 00:00:53,160 Speaker 3: about was this warning for a Musk that there's going 18 00:00:53,240 --> 00:00:56,040 Speaker 3: to be hard times ahead for the company. But then 19 00:00:56,080 --> 00:00:58,440 Speaker 3: when you actually look at the numbers, revenue is down 20 00:00:58,480 --> 00:01:03,360 Speaker 3: twelve percent year over year, missed estimates adjusted EPs missed. 21 00:01:03,880 --> 00:01:07,679 Speaker 3: But again, typically investors kind of have looked at Tesla 22 00:01:07,720 --> 00:01:09,720 Speaker 3: and they've looked at the promises that Musk has made 23 00:01:09,760 --> 00:01:13,640 Speaker 3: on robo taxis and AI and sometimes they're able to 24 00:01:13,680 --> 00:01:17,320 Speaker 3: overlook maybe a sales slump. This quarter it was not 25 00:01:17,480 --> 00:01:19,080 Speaker 3: the case. So we have a lot of kind of 26 00:01:19,120 --> 00:01:21,000 Speaker 3: Wall Street people weighing in. I know you guys have 27 00:01:21,080 --> 00:01:24,480 Speaker 3: interviewed some people that are long the stock and are 28 00:01:24,600 --> 00:01:27,319 Speaker 3: kind of questioning, now, how much longer do you hold on? 29 00:01:27,920 --> 00:01:30,280 Speaker 3: It's interesting when you look at the year to date declines. 30 00:01:30,319 --> 00:01:33,959 Speaker 3: It's down about twenty five percent this year. If you 31 00:01:34,000 --> 00:01:36,360 Speaker 3: look over the last twelve months, it's still up about 32 00:01:36,360 --> 00:01:38,800 Speaker 3: forty percent, which is actually outperforming the S and P 33 00:01:38,880 --> 00:01:41,360 Speaker 3: five hundred in that timeframe. So depending on when you 34 00:01:41,880 --> 00:01:44,400 Speaker 3: like get in, you might still be. 35 00:01:44,920 --> 00:01:46,280 Speaker 1: Yeah, like up. 36 00:01:46,400 --> 00:01:50,440 Speaker 4: But this has been a volatile stock. Yeah, you know, 37 00:01:50,840 --> 00:01:53,840 Speaker 4: a big move such as this, it's obviously big in 38 00:01:53,880 --> 00:01:55,720 Speaker 4: the you know, what did you say, ninety billion dollars 39 00:01:55,760 --> 00:01:57,960 Speaker 4: in market cabs market cap move today in a day 40 00:01:58,000 --> 00:02:00,000 Speaker 4: we have even a long term shareholder, you used to 41 00:02:00,200 --> 00:02:01,040 Speaker 4: the ups and downs of times. 42 00:02:01,160 --> 00:02:02,400 Speaker 3: That's what Roys Gerber. 43 00:02:02,080 --> 00:02:04,760 Speaker 1: Said, he's you know, who's been selling, But he said 44 00:02:04,800 --> 00:02:06,960 Speaker 1: he's got some investors who bought the stock when it 45 00:02:07,000 --> 00:02:10,200 Speaker 1: was two dollars a share, and so they still kind 46 00:02:10,200 --> 00:02:12,840 Speaker 1: of want to be in it because she just don't know. Well, 47 00:02:12,840 --> 00:02:14,720 Speaker 1: there's also capital gains so that they're worried about at 48 00:02:14,760 --> 00:02:15,120 Speaker 1: this point. 49 00:02:15,400 --> 00:02:17,400 Speaker 3: But anyway, Yeah, I mean people have a lot of 50 00:02:17,440 --> 00:02:20,040 Speaker 3: thoughts about Tesla, so it definitely gets a lot of tension. 51 00:02:20,120 --> 00:02:22,440 Speaker 3: But I think it's worthy just to look at the 52 00:02:23,000 --> 00:02:25,720 Speaker 3: magnitude of the straw. 53 00:02:25,520 --> 00:02:27,480 Speaker 1: To United Health. Why are you looking at this one? 54 00:02:27,639 --> 00:02:30,919 Speaker 3: So this stock is down right now, it's down about 55 00:02:30,960 --> 00:02:34,960 Speaker 3: four percent. It's hitting its lowest level since May sixteen. 56 00:02:35,040 --> 00:02:38,680 Speaker 3: There's been not a lot of positive headlines when it 57 00:02:38,720 --> 00:02:41,680 Speaker 3: comes to United Health. Today, the health insurance said that 58 00:02:41,720 --> 00:02:46,240 Speaker 3: it's responding to criminal and civil requests from the DOJ 59 00:02:46,480 --> 00:02:50,040 Speaker 3: about its medicare practices. Basically what they're doing. The news 60 00:02:50,040 --> 00:02:52,920 Speaker 3: today is that they had confirmed reports of probes that 61 00:02:52,960 --> 00:02:56,119 Speaker 3: had been surfacing over the last two years. They said 62 00:02:56,120 --> 00:02:59,320 Speaker 3: they're cooperating with the company. But nevertheless, it's not really 63 00:02:59,400 --> 00:03:03,880 Speaker 3: something investors want to deal with, and it's really just 64 00:03:03,919 --> 00:03:07,799 Speaker 3: adding to the mounting troubles at the insurer. They had 65 00:03:07,840 --> 00:03:11,359 Speaker 3: withdrawn their guidance, as we've seen a lot of companies 66 00:03:11,400 --> 00:03:14,000 Speaker 3: do during this time of economic uncertainty. It has been 67 00:03:14,000 --> 00:03:16,760 Speaker 3: a rough year, but Yeah, they had replaced a top exec. 68 00:03:17,320 --> 00:03:18,800 Speaker 3: So this is kind of just weighing on the stock 69 00:03:18,840 --> 00:03:19,840 Speaker 3: even further down. 70 00:03:19,760 --> 00:03:22,760 Speaker 1: Forty year to date. So yeah, out out. 71 00:03:22,680 --> 00:03:24,600 Speaker 4: Out, every one of your stocks that you brought us 72 00:03:24,919 --> 00:03:26,800 Speaker 4: is a decliner, is a decliner, and also like a 73 00:03:26,840 --> 00:03:30,280 Speaker 4: decliner by quite a bit so negative. 74 00:03:31,880 --> 00:03:33,960 Speaker 3: I wanted to keep it exciting, right, Well you did 75 00:03:33,960 --> 00:03:34,600 Speaker 3: with Chipotle. 76 00:03:34,639 --> 00:03:35,600 Speaker 4: What's going on with Chipole? 77 00:03:35,720 --> 00:03:37,880 Speaker 3: So I picked Chipotle because this was a pretty like 78 00:03:38,320 --> 00:03:40,920 Speaker 3: large move and I know it's a it's a company 79 00:03:40,960 --> 00:03:43,800 Speaker 3: that obviously we're all familiar with, at least I am. 80 00:03:43,840 --> 00:03:46,280 Speaker 3: I e Chipotle probably a couple times a day, not 81 00:03:46,320 --> 00:03:48,440 Speaker 3: a couple times a day, Oh my gosh, a couple 82 00:03:48,480 --> 00:03:52,680 Speaker 3: of times a month. Right now, it's down fourteen percent. 83 00:03:53,440 --> 00:03:56,200 Speaker 3: They cut their annual outlook for the second time this year. 84 00:03:57,840 --> 00:04:02,600 Speaker 3: Apparently their honey chicken wasn't enough to offset a traffic slump. Again, 85 00:04:02,640 --> 00:04:04,280 Speaker 3: I said, I eat Chipotle. 86 00:04:04,400 --> 00:04:07,680 Speaker 4: Not four times a day, do the honey chicken. 87 00:04:08,040 --> 00:04:11,240 Speaker 3: I tried the honey chicken once, personally did not like it. Okay, 88 00:04:11,640 --> 00:04:14,080 Speaker 3: I thought it was like to too much. Have you 89 00:04:14,160 --> 00:04:14,680 Speaker 3: guys had that? 90 00:04:14,800 --> 00:04:15,160 Speaker 2: I haven't. 91 00:04:15,160 --> 00:04:17,000 Speaker 4: I'm just thinking, do you need sweet chicken. 92 00:04:17,560 --> 00:04:21,320 Speaker 3: In a little already, and then they also so they 93 00:04:21,320 --> 00:04:25,239 Speaker 3: had a comparable sales decline of four percent in the quarter. 94 00:04:25,440 --> 00:04:28,839 Speaker 3: Usually this is a company right, Usually they're they're in 95 00:04:28,920 --> 00:04:31,560 Speaker 3: a positive territory for that number. So that missed estimates. 96 00:04:31,560 --> 00:04:33,279 Speaker 3: But also it's just not a good sign to see 97 00:04:33,440 --> 00:04:36,800 Speaker 3: a sales decline. In an interview with Bloomberg, the CEO 98 00:04:36,920 --> 00:04:41,839 Speaker 3: cited economic volatility weighing on lower income consumers, those people 99 00:04:41,839 --> 00:04:44,279 Speaker 3: pulling back, and that being one reason why the sales 100 00:04:44,279 --> 00:04:45,000 Speaker 3: were declining. 101 00:04:45,240 --> 00:04:47,359 Speaker 1: What does this mean? The company set did cite a 102 00:04:47,400 --> 00:04:52,200 Speaker 1: boost from a strong plant to laps brisket to lap brisket. 103 00:04:54,120 --> 00:04:55,360 Speaker 1: What the heck does that? We're going to have to 104 00:04:55,360 --> 00:04:57,680 Speaker 1: go into a wight be some brisket, But I'm not 105 00:04:57,760 --> 00:04:58,839 Speaker 1: in September. 106 00:05:00,080 --> 00:05:01,840 Speaker 2: Up brisk it. I don't know. 107 00:05:02,520 --> 00:05:07,280 Speaker 1: I'm not sure, folks, briss at X. Feel free to 108 00:05:07,360 --> 00:05:08,200 Speaker 1: let me know what that is. 109 00:05:08,760 --> 00:05:12,680 Speaker 4: Send me burritos, send Carol commentary. What that means? 110 00:05:12,720 --> 00:05:16,320 Speaker 1: What that means? All right? CMG though down certainly in 111 00:05:16,320 --> 00:05:19,080 Speaker 1: today's session, It's down almost twenty five percent here to date. 112 00:05:19,120 --> 00:05:22,560 Speaker 3: Yep biggest inter day decline since March twenty twenty. 113 00:05:23,440 --> 00:05:27,440 Speaker 2: The stock Mover's report from Bloomberg Radio. Check back with 114 00:05:27,520 --> 00:05:30,120 Speaker 2: us throughout the day for the latest roundup of companies 115 00:05:30,200 --> 00:05:33,279 Speaker 2: making news on Wall Street and for the latest market 116 00:05:33,320 --> 00:05:37,800 Speaker 2: moving headlines. 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