Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: This is the closing bell on this stock movers report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenovak, Romaine Bostik, and Scarlet flu.
Speaker 3: All right, so let's get to the S and P
Speaker 3: five hundred folks, now that we are at the close.
Speaker 3: In terms of the market averages, Christine, we're looking at
Speaker 3: more names actually hired today. Wasn't that way earlier in
Speaker 3: the session? Three hundred and eighty nine names in the
Speaker 3: S and P five hundred gaining ground on this Friday
Speaker 3: on hundred and twelve to the downside to unchanged.
Speaker 1: Well, Carol, I'm looking at the sectors again that have
Speaker 1: led us and liked us in this equity session. I
Speaker 1: mentioned earlier in for tech of course a biggest loser today,
Speaker 1: but you know, the biggest winners energy sector, and look
Speaker 1: at that, so that is up currently being led by
Speaker 1: eggs on world seeing of course oil prices up today,
Speaker 1: so you know, that's kind of helping a cushion some
Speaker 1: of those declines in the SB furn that we're seeing
Speaker 1: earlier and again, as Carl mentioned, you know we've paired
Speaker 1: some of those losses already because of potential hope that
Speaker 1: we might see the beginning of the end of the shutdown.
Speaker 1: If we do, in fact see our lawmakers grabbing some
Speaker 1: martinis somewhere in DC this weekend, one can hope.
Speaker 3: What are the odds something like that?
Speaker 1: Right?
Speaker 3: All right, so we can keep our fingers crossed. Hey,
Speaker 3: so a lot of green. So let's get to some
Speaker 3: of the individual gainers. Got to mention Expedia, it's your
Speaker 3: number one gainer in the S and P five hundred.
Speaker 3: The stock finishing with a rise of about seventeen and
Speaker 3: a half percent. It is now up about forty percent
Speaker 3: year to date. The company raising its full year gross
Speaker 3: bookings and revenue outlook. Its signaled that strong travel trends
Speaker 3: are continuing into the holiday quarter, so revenue this year
Speaker 3: now expected to increase six point five percent at the midpoint,
Speaker 3: gross bookings are expected to grow seven percent. That's both
Speaker 3: ahead of estimates and Expedia's previous guidance. I should point
Speaker 3: out the outlook not into account the US government shut down,
Speaker 3: and the company has yet to see an impact. Just
Speaker 3: over a month and according to the company's CEO. All right,
Speaker 3: over to Monster beverage. We go this one number two
Speaker 3: gainer in the Nasdaq one hundred to gain a five
Speaker 3: point two percent here after the Energy Drinks Companies third
Speaker 3: quarter results topped expectations. Analysts pretty positive about the company's
Speaker 3: gross margins and sales following the recent price hikes. And
Speaker 3: this one too is up about thirty two percent here
Speaker 3: in twenty twenty five. And one more for you. We're
Speaker 3: talking about top golf callaway. That one up about fourteen
Speaker 3: point three docent. Yeah right, I guess people are golfing.
Speaker 4: Yeah, I guess.
Speaker 5: Remember we thought it got it, It got revived during
Speaker 5: the pandemic, and it has been building on that.
Speaker 3: Since exactly so again a good number here. The company
Speaker 3: came out boosted its net revenue guidance for the full
Speaker 3: year as football fans took some extra time out for golf.
Speaker 3: Glad to hear that's happening. The company expects annual revenue
Speaker 3: of three point nine to two billion at the midpoint.
Speaker 3: That's up from the previous expected three point eighty six billion.
Speaker 3: This was also above Wall Street's estimate of three point
Speaker 3: eight nine billion. Stock up more than thirty percent year
Speaker 3: to date, about ten percent of the float is short,
Speaker 3: but I'm going to say that's kind of how I
Speaker 3: grew up. My family went from golfing to football golfing.
Speaker 5: It's got to get on from the couch every once
Speaker 5: in a while. Yeah, exactly what.
Speaker 3: We did, go out and play a lot of golf.
Speaker 3: I should say that today at least to get off
Speaker 3: the couch on that one.
Speaker 4: Hey, you got the gainers, I got the decliners today.
Speaker 4: I want to start with the shares of the meat
Speaker 4: processing company JBS falling three point six four percent. Shares
Speaker 4: just dove late in the trading session at about three
Speaker 4: point thirty eight PM. This after the President said in
Speaker 4: a social media post that he's told the Justice Department
Speaker 4: to probe meat packing companies. Here's what the President said,
Speaker 4: in part, quote, I've asked the DOJ to immediately begin
Speaker 4: an investigation into the meat packing companies who are driving
Speaker 4: up the price of beef through illicit collusion, price fixing,
Speaker 4: and price manipulation. We will always protect our American ranchers,
Speaker 4: and they're being blamed for what is being done by
Speaker 4: majority foreign owned meat packers. End quote. In part he
Speaker 4: goes on to say more, we should note there are
Speaker 4: a host of reasons why beef prices in the United
Speaker 4: States have gone up. We've typically imported quite a bit
Speaker 4: from Brazil, but then tariffs on Brazil helped put an
Speaker 4: end to that. We were hoping well. The US was
Speaker 4: hoping to import from Argentina as well, but that's politically
Speaker 4: difficult when it affects the price of beef for American ranchers,
Speaker 4: many of whom did support the president in his last election.
Speaker 4: Once again, shares a JBS down three point six percent.
Speaker 4: We'll continue following this story. Also among the worst performers
Speaker 4: in the S and P five hundred and any percentage basis.
Speaker 4: Shares of the company formerly known as Square now called
Speaker 4: blockdown seven point seven percent. The company did raise its
Speaker 4: full year profit forecast and posted strong growth in consumer banking,
Speaker 4: though it's third quarter revenues fell short of Wall Street's estimates.
Speaker 4: The company added three hundred thousand new primary banking users
Speaker 4: in the quarter, and the number of monthly active users
Speaker 4: in the cash app ticked up slightly to fifty eight million. Also, finally,
Speaker 4: Sweet Green shares hitting a record low today, down seven
Speaker 4: point five percent. The restaurant chain cut its revenue guidance
Speaker 4: for the full year, missed the average analyst estimate. Red Brown,
Speaker 4: a consumer reporter for Bloomberg News, says, a great piece
Speaker 4: out on the terminal today. I encourage everybody to go
Speaker 4: read it. It's about how the pricing menu add ons
Speaker 4: that were added over the last few months have misfired.
Speaker 4: The Ripple fries that were made with hand cut potatoes
Speaker 4: and air fried and avocado oil were removed from the
Speaker 4: menu just after five months due to being too complicated
Speaker 4: to make, and they were not.
Speaker 3: Ripple a really bad mummers. Huh is it ripple a
Speaker 3: really bad drink?
Speaker 4: I don't know the drink I think so.
Speaker 5: Sweekeren and fries just are strange myths overall, you know,
Speaker 5: all right, quick glance at yields, you could see little
Speaker 5: change right now. They were up, they were down, they're
Speaker 5: up again, and now they're kind of I mean, they're
Speaker 5: just all over the place. But we do have a big,
Speaker 5: big week in terms of issuance next week, one hundred
Speaker 5: and fifty billion dollars of threes, tens, and thirties, which
Speaker 5: will be shortened next week because of Veterans Day. So
Speaker 5: there's a lot of supply to absorb next week. Just
Speaker 5: something to keep in mind here because there's no official
Speaker 5: data that we're dealing with right now. We also have
Speaker 5: headlines coming out with Israel's outlook revised to stable from
Speaker 5: negative by SMP. And so if you look at the
Speaker 5: Israeli shekel, the dollar sinking to its session lows versus
Speaker 5: that currency. So the shekel is at its session highs
Speaker 5: in terms of strength, the dollars at session lows versus
Speaker 5: the shekel. So we'll continue to keep an eye on that.
Speaker 3: Carol, Oh, thank you so much.
Speaker 1: Carla.
Speaker 3: Hey, let's get to some stories that definitely have caught
Speaker 3: our attention. So as we are in the longest government
Speaker 3: shutdown thirty eight days in counting, we'll see whether or not,
Speaker 3: like we did see some movement today, but we'll see
Speaker 3: whether or not it comes to an end sooner rather
Speaker 3: than later.
Speaker 5: We are looking at.
Speaker 3: Different statistics to figure out what's going on in the economy.
Speaker 3: And here's an interesting story. A slump in cardboard box sales,
Speaker 3: stoking fears of weak holiday retail shopping season. US corrugated
Speaker 3: box shipments fell to the lowest third quarter reading since
Speaker 3: twenty fifteen. This according to data from the Fiber Box Association. Yes,
Speaker 3: there is one Factioning companies have warned that economic uncertainty
Speaker 3: is weighing on retailers and consumers, with box plants reporting
Speaker 3: tim flat or below normal orders in the month of October.
Speaker 4: Yeah events of corugated cardboard can serve as a demand
Speaker 4: indicator for food and consumer goods this time of year,
Speaker 4: though critical for the box industry because shipment's typically peaking
Speaker 4: October as retailers prepare for the holidays. So it gives
Speaker 4: us a good idea of or potentially could give us
Speaker 4: a good idea of, what demand could look like in
Speaker 4: the holiday season.
Speaker 2: This Stockmovers report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg
Speaker 2: dot com, and on Applecarplay and Android Auto with the
Speaker 2: Bloomberg Business app.