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 --> 00:00:17,200 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,400 --> 00:00:19,640 Speaker 3: I'm Tim Stinebeck along with Carol Master. Let's take a 5 00:00:19,680 --> 00:00:22,599 Speaker 3: look at some stocks on the move today. Bloomberg News 6 00:00:22,600 --> 00:00:26,480 Speaker 3: cross asset reporter Isabelle Lee is with us right now. 7 00:00:26,560 --> 00:00:28,000 Speaker 4: You had a lot to choose from. 8 00:00:27,840 --> 00:00:30,920 Speaker 1: Isabelle A lot, so that was tough. But I'm going 9 00:00:30,960 --> 00:00:33,920 Speaker 1: in strong with lows. So it's edging lower by two percent, 10 00:00:34,840 --> 00:00:37,160 Speaker 1: edged lower by two percent. We are in market close now. 11 00:00:37,320 --> 00:00:40,000 Speaker 1: So I have comparable sales beating expectations last quarter, and 12 00:00:40,040 --> 00:00:44,320 Speaker 1: that's really as choppers maintained home spending despite this macroeconomic 13 00:00:44,400 --> 00:00:47,720 Speaker 1: environment and just weakening consumer sentiment in general. But they 14 00:00:47,760 --> 00:00:50,800 Speaker 1: did see a one point seven percent dip in comparable sales, 15 00:00:50,800 --> 00:00:52,879 Speaker 1: which came amid bad weather. So I think that's what 16 00:00:53,000 --> 00:00:55,480 Speaker 1: soured sentiment a little bit. So what does this tell 17 00:00:55,560 --> 00:00:59,520 Speaker 1: us that American shoppers are really still pursuing smaller ones 18 00:00:59,560 --> 00:01:02,720 Speaker 1: even though they're differring bigger projects. And I can attest 19 00:01:02,720 --> 00:01:06,160 Speaker 1: that pursuing smaller ones. I hung some little frames in 20 00:01:06,160 --> 00:01:09,880 Speaker 1: my home would the thicket because I'm a renter. But honestly, 21 00:01:09,959 --> 00:01:12,520 Speaker 1: results of Flow and Home Depot, the main competitors, suggests 22 00:01:12,520 --> 00:01:15,240 Speaker 1: that US consumers really have yet to make any changes 23 00:01:15,360 --> 00:01:16,160 Speaker 1: to their spending. 24 00:01:16,280 --> 00:01:17,560 Speaker 5: You know, I feel like we saw this in so 25 00:01:17,600 --> 00:01:20,640 Speaker 5: many names today because we saw this stock kicking around 26 00:01:20,840 --> 00:01:23,040 Speaker 5: a bit higher at one point, down. 27 00:01:22,959 --> 00:01:25,640 Speaker 1: At one point, and then yes, you're finishing. 28 00:01:25,240 --> 00:01:28,080 Speaker 5: The day down about one point seven percent here right STU. 29 00:01:28,319 --> 00:01:31,640 Speaker 4: Pressure to get you know, get yeah, get some love. 30 00:01:32,080 --> 00:01:34,080 Speaker 5: I don't know, but it's I agree with you. Like 31 00:01:34,480 --> 00:01:37,039 Speaker 5: you know, I'm going to buy some plants like those 32 00:01:37,040 --> 00:01:40,399 Speaker 5: are the things that into some garbage, some soil, some 33 00:01:40,480 --> 00:01:43,280 Speaker 5: snowy kitchen renovation or any Yeah, you know, I don't know, 34 00:01:43,319 --> 00:01:44,399 Speaker 5: waiting for those prices to do. 35 00:01:44,560 --> 00:01:45,520 Speaker 4: I need the pandemic. 36 00:01:45,640 --> 00:01:46,240 Speaker 1: What do you need? 37 00:01:46,400 --> 00:01:51,240 Speaker 3: I need gloves to pull poison ivy away from a fence. 38 00:01:51,280 --> 00:01:51,920 Speaker 5: Are you serious? 39 00:01:52,000 --> 00:01:53,960 Speaker 4: Yeah? Did you go buy them? No? I'm going to 40 00:01:54,000 --> 00:01:54,320 Speaker 4: buy them. 41 00:01:54,320 --> 00:01:56,960 Speaker 3: But I asked chat GPT if it was poison ivy. 42 00:01:57,480 --> 00:02:00,200 Speaker 3: I took pictures and chat GPT said it was. I 43 00:02:00,200 --> 00:02:02,840 Speaker 3: didn't believe chat GBT, so I uploaded the same pictures 44 00:02:02,880 --> 00:02:04,360 Speaker 3: to Claude. 45 00:02:04,520 --> 00:02:07,920 Speaker 5: Be very careful as you do this though, because you 46 00:02:07,960 --> 00:02:09,960 Speaker 5: don't want to like if stuff moves around. 47 00:02:10,080 --> 00:02:13,120 Speaker 3: Oh, I fully plan on. He's trying to get somebody 48 00:02:13,160 --> 00:02:16,360 Speaker 3: else to do this in my life. Oh yeah, this 49 00:02:16,440 --> 00:02:18,880 Speaker 3: is the type of thing where I will gladly pay somebody. 50 00:02:18,720 --> 00:02:20,240 Speaker 5: To I sued from head to toe. 51 00:02:20,400 --> 00:02:24,400 Speaker 3: No, I've had some bad experiences with poison oak in 52 00:02:24,440 --> 00:02:25,880 Speaker 3: my past, so I have no interest in. 53 00:02:25,960 --> 00:02:28,400 Speaker 1: But okay, the poison ivy didn't even strip me. What 54 00:02:28,480 --> 00:02:30,320 Speaker 1: struck me was that you have a fence. So that's 55 00:02:30,360 --> 00:02:32,280 Speaker 1: a low key flex that you have a fence. 56 00:02:32,360 --> 00:02:35,840 Speaker 4: Oh right, all right there it is, all. 57 00:02:35,800 --> 00:02:36,840 Speaker 5: Right, let's go to Maderna. 58 00:02:37,240 --> 00:02:39,239 Speaker 1: This one is we saw a big fault today to 59 00:02:39,280 --> 00:02:41,959 Speaker 1: stop closed lower by nearly eight percent. So Moderna said 60 00:02:41,960 --> 00:02:45,799 Speaker 1: it voluntarily through its application for regulatory approval for its 61 00:02:45,880 --> 00:02:49,359 Speaker 1: combination COVID and FLU shot for people over fifty years old. 62 00:02:49,600 --> 00:02:52,400 Speaker 1: Moderna said it made a decision after consulting with the FDA. 63 00:02:52,680 --> 00:02:55,200 Speaker 1: It did add that it tends to resubmit the application 64 00:02:55,320 --> 00:02:57,040 Speaker 1: later this year. So this is a setback for the 65 00:02:57,080 --> 00:02:59,600 Speaker 1: company because they've really been trying to boost their strategy. 66 00:03:00,120 --> 00:03:02,640 Speaker 1: No one's really taking COVID shots anymore, but everyone still 67 00:03:02,680 --> 00:03:05,280 Speaker 1: takes flu shot. I'm lucky. We're all lucky. We work 68 00:03:05,280 --> 00:03:07,160 Speaker 1: at a company like Bloombergs. When I get the email 69 00:03:07,240 --> 00:03:09,880 Speaker 1: time to take your flu shots, so entirely just go down. 70 00:03:10,040 --> 00:03:12,360 Speaker 1: But I actually haven't taken through a COVID shot, So 71 00:03:12,360 --> 00:03:15,160 Speaker 1: they thought this two in one thing would actually result 72 00:03:15,160 --> 00:03:18,840 Speaker 1: a higher uptick. But they did see the potential approval 73 00:03:18,840 --> 00:03:21,200 Speaker 1: in twenty twenty six, So actually when I first read this, 74 00:03:21,320 --> 00:03:23,400 Speaker 1: I was like, a two in one shot, I would definitely 75 00:03:23,840 --> 00:03:24,440 Speaker 1: consider that. 76 00:03:24,520 --> 00:03:27,360 Speaker 5: What's interesting too, is we've seen the vaccine makers on 77 00:03:27,400 --> 00:03:30,120 Speaker 5: a tear like this one was up three days in 78 00:03:30,160 --> 00:03:33,600 Speaker 5: a row, a total of I think about eighteen percent 79 00:03:33,720 --> 00:03:36,520 Speaker 5: here between Friday and Tuesday, because some of the things 80 00:03:36,520 --> 00:03:39,080 Speaker 5: that were coming down right from the government that okay, 81 00:03:39,120 --> 00:03:41,480 Speaker 5: maybe it wasn't going to be so onerous in terms 82 00:03:41,480 --> 00:03:44,440 Speaker 5: of vaccines that there were going to prove some or 83 00:03:44,480 --> 00:03:48,320 Speaker 5: the testing wasn't so complicated to get things through. So 84 00:03:48,400 --> 00:03:51,480 Speaker 5: interesting to see that that switcheroo today in the. 85 00:03:51,400 --> 00:03:54,280 Speaker 1: Pressure, but I think it's it's a step back to 86 00:03:54,360 --> 00:03:57,440 Speaker 1: their broader plan. Maybe investors early cling on to that hope. 87 00:03:57,440 --> 00:03:59,720 Speaker 1: I mean, you have to admit it's kind of creative. 88 00:04:00,000 --> 00:04:00,720 Speaker 1: Two in one shot. 89 00:04:00,960 --> 00:04:02,760 Speaker 5: Yeah, exactly, I'll take it. 90 00:04:02,920 --> 00:04:04,600 Speaker 4: More retail is what I want to talk about. 91 00:04:04,760 --> 00:04:08,320 Speaker 1: Yeah, so VF Corp. Because yeah, here do you shove here? 92 00:04:09,160 --> 00:04:12,240 Speaker 4: They own they own some Let's see what do they own? 93 00:04:12,320 --> 00:04:15,440 Speaker 1: The timber Lands and Vans, vaf core brands. I don't 94 00:04:15,440 --> 00:04:18,520 Speaker 1: know where those north Face men people do? Yes, north Face. 95 00:04:18,800 --> 00:04:22,359 Speaker 1: So they're down by sixteen percent. The company projected a 96 00:04:22,360 --> 00:04:25,200 Speaker 1: bigger than expected loss, and they warned investors that they've 97 00:04:25,240 --> 00:04:27,680 Speaker 1: really been rushing to beat the ninety day window of 98 00:04:27,720 --> 00:04:30,159 Speaker 1: tire of process from the Trump administration. That's something around 99 00:04:30,240 --> 00:04:32,880 Speaker 1: July eighth. I think somewhere in July, who knows if 100 00:04:32,880 --> 00:04:37,159 Speaker 1: we'll see another extension or even I don't know actually 101 00:04:37,200 --> 00:04:39,320 Speaker 1: what we'll see. But so far this year, Destoker has 102 00:04:39,320 --> 00:04:41,760 Speaker 1: already declined more than thirty percent, and that's really as 103 00:04:41,800 --> 00:04:45,600 Speaker 1: the company struggled with costs and just lower consumer sentiment. 104 00:04:45,640 --> 00:04:47,960 Speaker 1: I mean, if you're feeling a little pinch on your wallet, 105 00:04:47,960 --> 00:04:51,599 Speaker 1: you won't really buy an extra pair of sneakers. But actually, 106 00:04:51,600 --> 00:04:53,240 Speaker 1: if you have said, eighty five percent of its products 107 00:04:53,240 --> 00:04:56,640 Speaker 1: are imported from Southeast Asia, South American, Central America, and 108 00:04:56,680 --> 00:04:59,000 Speaker 1: only two percent come from China. So I guess that's 109 00:04:59,000 --> 00:05:00,800 Speaker 1: a little bit of a I'd been there, but still 110 00:05:00,960 --> 00:05:03,240 Speaker 1: we have more both by many of the Wall Street banks. 111 00:05:03,240 --> 00:05:05,840 Speaker 3: They also an Icebreaker and smart Wall I'm fans of 112 00:05:06,160 --> 00:05:09,600 Speaker 3: the really wol socks. Yeah, oh yeah, oh yeah, great 113 00:05:09,600 --> 00:05:12,480 Speaker 3: Wolf socks, ice Breaker, good Wolf shirts too, great travel shirts. 114 00:05:12,520 --> 00:05:13,520 Speaker 4: Back when I used to travel. 115 00:05:14,000 --> 00:05:16,480 Speaker 1: Oh good to know. Yeah, back when the economy was great. 116 00:05:16,680 --> 00:05:17,719 Speaker 4: No, when I didn't have kids. 117 00:05:19,720 --> 00:05:22,000 Speaker 5: That's the thing that changes your spending patterns. You still 118 00:05:22,040 --> 00:05:23,640 Speaker 5: spend money, you just spend it differently. 119 00:05:23,680 --> 00:05:27,000 Speaker 4: Yeah, it's on them childcare, which I'm happy to do. 120 00:05:28,520 --> 00:05:32,560 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 121 00:05:32,640 --> 00:05:35,200 Speaker 2: us throughout the day for the latest roundup of companies 122 00:05:35,279 --> 00:05:38,360 Speaker 2: making news on Wall Street and for the latest market 123 00:05:38,400 --> 00:05:42,839 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 124 00:05:42,960 --> 00:05:46,479 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 125 00:05:46,520 --> 00:05:48,000 Speaker 2: the Bloomberg Business app.