1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:17,840 Speaker 2: the stock market, harnessing the power of Bloomberg data. Let's 4 00:00:18,079 --> 00:00:20,040 Speaker 2: get a look at some stocks on the move today 5 00:00:20,079 --> 00:00:21,520 Speaker 2: with Bloomberg's Isabelle Lee. 6 00:00:21,560 --> 00:00:24,160 Speaker 3: Hey, guys, we're looking at Crowdstrek first, So ticker there 7 00:00:24,280 --> 00:00:29,160 Speaker 3: is CRWD. We see shares falling by around seven percent, 8 00:00:29,400 --> 00:00:33,120 Speaker 3: So that's after the cybersecurity company posted disappointing first quarter 9 00:00:33,479 --> 00:00:37,160 Speaker 3: subscription revenue, so it's second quarter sales forecast also underwhelmed, 10 00:00:37,360 --> 00:00:39,479 Speaker 3: while an unchanged view on the full year revenue was 11 00:00:39,520 --> 00:00:42,400 Speaker 3: seen as negative by some analysts. We have Evercore can 12 00:00:42,400 --> 00:00:46,880 Speaker 3: Accord downgrading the stock. So Crowdstrek declined despite really beating 13 00:00:46,960 --> 00:00:49,839 Speaker 3: earnings expectations. And again we see that investors are more 14 00:00:49,880 --> 00:00:52,600 Speaker 3: focused on the forward outlook. So the company also reported 15 00:00:52,600 --> 00:00:55,240 Speaker 3: annual recurring revenue for the quarter that was just in 16 00:00:55,280 --> 00:00:57,640 Speaker 3: line with estimates. And of course, in May, recall that 17 00:00:57,720 --> 00:01:00,640 Speaker 3: Crowdstrek announced that it would cut about five hundred employees 18 00:01:00,880 --> 00:01:03,840 Speaker 3: and at that time shares dropped because Wall Street questioned 19 00:01:03,840 --> 00:01:07,200 Speaker 3: whether companies move came from a place of weakness or 20 00:01:07,240 --> 00:01:09,320 Speaker 3: strength so sometimes you feel like you just really can't 21 00:01:09,319 --> 00:01:10,360 Speaker 3: please these investors. 22 00:01:10,480 --> 00:01:13,960 Speaker 1: Well, ain't that the truth? Interesting too, because cybersecurity feels 23 00:01:14,040 --> 00:01:15,640 Speaker 1: like a. 24 00:01:15,000 --> 00:01:18,760 Speaker 3: Resilient place within the economy, but you know, maybe there's 25 00:01:18,760 --> 00:01:20,040 Speaker 3: some individual issues there. 26 00:01:20,080 --> 00:01:23,280 Speaker 1: Okay, let's also go to where my Dollar Tree. This 27 00:01:23,360 --> 00:01:26,240 Speaker 1: is so interesting because the dollar stores really diverge on 28 00:01:26,280 --> 00:01:27,200 Speaker 1: this exactly. 29 00:01:27,240 --> 00:01:30,600 Speaker 3: So Dollar Tree DLTR, not to be confused with Dollar General, 30 00:01:30,640 --> 00:01:31,160 Speaker 3: which is DG. 31 00:01:31,280 --> 00:01:31,839 Speaker 1: We're talking about. 32 00:01:31,840 --> 00:01:34,840 Speaker 3: Dollar Tree shares are falling almost ten percent because we 33 00:01:34,880 --> 00:01:38,400 Speaker 3: have in the company warning investors that second quarter profit 34 00:01:38,680 --> 00:01:41,280 Speaker 3: could be down as much as fifty percent from Marieogo 35 00:01:41,280 --> 00:01:43,720 Speaker 3: and that's of course related to tire related costs. So 36 00:01:44,080 --> 00:01:46,800 Speaker 3: we have Dollar Tree saying that the timing of expenses 37 00:01:47,040 --> 00:01:49,880 Speaker 3: will weigh on adjusted EPs, and that includes a one 38 00:01:49,960 --> 00:01:52,640 Speaker 3: hundred and forty five percent payout on levees because they 39 00:01:52,680 --> 00:01:54,960 Speaker 3: have a lot of products coming from China. So Dollar 40 00:01:55,000 --> 00:01:58,000 Speaker 3: Tree said they expect profits to quote re accelerate in 41 00:01:58,040 --> 00:02:00,440 Speaker 3: the remainder of the year. But still the outlook, to 42 00:02:00,480 --> 00:02:03,880 Speaker 3: Alex's point, really pales in comparison to its rival Dollar General, 43 00:02:04,120 --> 00:02:06,560 Speaker 3: because on Tuesday, the stocks search to the most on 44 00:02:06,640 --> 00:02:09,840 Speaker 3: record after raising its sales profit and guidance. So both 45 00:02:09,880 --> 00:02:13,240 Speaker 3: are dollar chains, but they're different because Dollar General generates 46 00:02:13,280 --> 00:02:16,320 Speaker 3: around eighty percent of sales from food and consumable goods. 47 00:02:16,040 --> 00:02:18,600 Speaker 1: So this means that they're less reliant on importans. 48 00:02:19,000 --> 00:02:22,960 Speaker 3: Dollar Tree gets just half of its revenue from these categories, 49 00:02:23,120 --> 00:02:26,040 Speaker 3: making them more reliable on inputs. And add to that, 50 00:02:26,320 --> 00:02:30,240 Speaker 3: most of their majority of their directly imported products are 51 00:02:30,320 --> 00:02:31,519 Speaker 3: imported from China. 52 00:02:31,560 --> 00:02:33,200 Speaker 1: And we know what's happening there in the tit for 53 00:02:33,320 --> 00:02:35,600 Speaker 1: tat trade war. All right, what else we got, Snowflake? 54 00:02:35,600 --> 00:02:36,120 Speaker 2: What do you get there? 55 00:02:36,600 --> 00:02:39,320 Speaker 3: Snowflake is a different story because we're seeing some green there, 56 00:02:39,320 --> 00:02:41,519 Speaker 3: but really just five tens of one percent. The ticker 57 00:02:41,600 --> 00:02:45,320 Speaker 3: is snow Snow. So the stock is rising after UBS 58 00:02:45,400 --> 00:02:48,000 Speaker 3: raised the stock to buy. They say that the company 59 00:02:48,040 --> 00:02:50,760 Speaker 3: is early in the multi year data investment cycle, so 60 00:02:50,840 --> 00:02:53,560 Speaker 3: the price target is now two hundred and sixty five dollars. 61 00:02:53,600 --> 00:02:56,160 Speaker 3: That's up from two hundred and ten dollars. They also 62 00:02:56,200 --> 00:02:58,920 Speaker 3: had a big summit and from that event, UBS said 63 00:02:58,919 --> 00:03:01,840 Speaker 3: that they're becoming increase recently confident in the prospect that 64 00:03:01,919 --> 00:03:04,520 Speaker 3: were just a few quarters away for this whole multi 65 00:03:04,600 --> 00:03:08,080 Speaker 3: year enterprise. Evercore also said that there were no major 66 00:03:08,080 --> 00:03:11,720 Speaker 3: financial updates. There were no major financial updates at the event, Yes, 67 00:03:11,800 --> 00:03:14,080 Speaker 3: but it's clear that AI has hit a tipping point. 68 00:03:14,160 --> 00:03:16,280 Speaker 3: And td coown also had good words. They said that 69 00:03:16,600 --> 00:03:19,440 Speaker 3: Snowflake is bleaning into an accelerated product roadmap. 70 00:03:19,480 --> 00:03:21,079 Speaker 1: So lots of good words there in the. 71 00:03:21,000 --> 00:03:23,320 Speaker 3: Summit, which is I guess the best news you can 72 00:03:23,360 --> 00:03:24,839 Speaker 3: ask for when you hold one. 73 00:03:25,680 --> 00:03:29,800 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 74 00:03:29,880 --> 00:03:32,639 Speaker 2: us throughout the day for the latest roundup of companies 75 00:03:32,680 --> 00:03:35,720 Speaker 2: making news on Wall Street and for the latest market 76 00:03:35,760 --> 00:03:40,160 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 77 00:03:40,160 --> 00:03:43,440 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 78 00:03:43,480 --> 00:03:44,960 Speaker 2: the Bloomberg Business app.