1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Mover's Podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:17,120 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:17,360 --> 00:00:19,440 Speaker 1: Time to take a look at stock's on the move today. 5 00:00:19,520 --> 00:00:23,400 Speaker 1: I'm Nathan Hager, joined by Bloomberg's KRITTI Goopta Kritty. Good morning. 6 00:00:23,400 --> 00:00:25,560 Speaker 1: You look at the broader indexes, you think, not a 7 00:00:25,560 --> 00:00:28,160 Speaker 1: whole lot's going on, But wow, look at the biggest 8 00:00:28,240 --> 00:00:30,920 Speaker 1: downside mover in the pre market. Tell us what's going 9 00:00:30,960 --> 00:00:34,240 Speaker 1: on with Senten. Good morning, Good morning, Nathan. 10 00:00:34,280 --> 00:00:36,640 Speaker 3: It's the ripple effect from Centen that's catching my eye 11 00:00:36,640 --> 00:00:39,680 Speaker 3: of really fascinating when Centen is a health ensurer that 12 00:00:39,880 --> 00:00:43,480 Speaker 3: is really taking some heat because they pulled their guidance. 13 00:00:43,960 --> 00:00:46,960 Speaker 3: They're talking about weak trends. The company has really taken 14 00:00:47,000 --> 00:00:48,479 Speaker 3: a hit in the pre market to the tune of 15 00:00:48,560 --> 00:00:52,080 Speaker 3: something likes twenty six percent this morning. But of course 16 00:00:52,080 --> 00:00:54,000 Speaker 3: it is not a part of the S and P 17 00:00:54,120 --> 00:00:58,160 Speaker 3: five hundred. Instead, Elevant's Health, which is one of their competitors, 18 00:00:58,640 --> 00:01:00,840 Speaker 3: is and so the biggest mover to the downside in 19 00:01:00,880 --> 00:01:03,360 Speaker 3: the S and P five hundred is Elevin's Health. The 20 00:01:03,400 --> 00:01:06,680 Speaker 3: tickers ELV trading down by about four and a half 21 00:01:06,760 --> 00:01:09,399 Speaker 3: percent this morning at about three hundred and seventy eight 22 00:01:09,480 --> 00:01:11,560 Speaker 3: dollars a share. Now, again, this is one of those 23 00:01:11,560 --> 00:01:14,000 Speaker 3: stocks that trades on sympathy with the news out of 24 00:01:14,000 --> 00:01:15,319 Speaker 3: cent teens. So let me bring it right back to 25 00:01:15,319 --> 00:01:18,040 Speaker 3: that story. They pulled their guides initially because they said 26 00:01:18,040 --> 00:01:21,679 Speaker 3: there's weaker than expected market trends. They're expecting headwinds of 27 00:01:21,720 --> 00:01:24,399 Speaker 3: get this, as much as one point eight billion dollars, 28 00:01:24,680 --> 00:01:26,920 Speaker 3: and even the analyst commentary on the back of that 29 00:01:27,200 --> 00:01:30,959 Speaker 3: are saying that this is a clearly negative trajectory and 30 00:01:31,000 --> 00:01:34,160 Speaker 3: it's not a company specific story. It's an industry specific story, 31 00:01:34,200 --> 00:01:36,280 Speaker 3: which is why you're seeing this ripple effect in the 32 00:01:36,400 --> 00:01:38,480 Speaker 3: likes of eleven's health. So that's one kind of a 33 00:01:38,560 --> 00:01:41,399 Speaker 3: doomsday mover to talk about this morning in terms of 34 00:01:41,440 --> 00:01:44,200 Speaker 3: some of this market action. There's a couple of others 35 00:01:44,240 --> 00:01:47,400 Speaker 3: though as well. This Rent Systems. Again, this is not 36 00:01:47,440 --> 00:01:49,920 Speaker 3: a company we talk about very often, but getting some 37 00:01:50,080 --> 00:01:54,520 Speaker 3: interest from Toma Bravo, the major private equity player said 38 00:01:54,520 --> 00:01:57,760 Speaker 3: to be in talks, according to Bloomberg, reporting to acquire 39 00:01:57,960 --> 00:02:01,120 Speaker 3: variant systems. It's a maker of call center software. We 40 00:02:01,200 --> 00:02:03,200 Speaker 3: know Tom Bravo has been on a string of making 41 00:02:03,400 --> 00:02:05,320 Speaker 3: a series of big tech deals as well, so this 42 00:02:05,360 --> 00:02:07,920 Speaker 3: is probably in line with some of that as well. Look, 43 00:02:07,960 --> 00:02:10,400 Speaker 3: this deal has not been confirmed. Tom Bravo has not 44 00:02:11,080 --> 00:02:13,960 Speaker 3: confirmed this by any means, but the speculation is enough 45 00:02:14,240 --> 00:02:17,760 Speaker 3: to move the market, as we well know. So VRNT 46 00:02:18,520 --> 00:02:20,920 Speaker 3: is your ticker in terms of pre market story. It 47 00:02:21,040 --> 00:02:23,600 Speaker 3: was higher at least when the news initially floated, by 48 00:02:23,600 --> 00:02:26,079 Speaker 3: as much as sixteen percent in late trading yesterday. This 49 00:02:26,200 --> 00:02:29,600 Speaker 3: was after the closing bell, higher by about thirteen percent 50 00:02:29,680 --> 00:02:32,160 Speaker 3: in the pre market trading meethan trading about twenty your 51 00:02:32,160 --> 00:02:36,160 Speaker 3: shift twenty one dollars a share. VRNT is the ticker there. 52 00:02:36,200 --> 00:02:38,120 Speaker 3: So I think those are probably the non traditional stocks 53 00:02:38,800 --> 00:02:40,799 Speaker 3: out of the way. Let's talk about the more traditional ones. 54 00:02:40,800 --> 00:02:43,240 Speaker 3: Apple shares getting a bit of a boost this morning. 55 00:02:43,280 --> 00:02:46,280 Speaker 3: AAPL is your ticker. It looks like it's getting an 56 00:02:46,400 --> 00:02:48,840 Speaker 3: upgrade actually, which is a rarity. Wall Street has been 57 00:02:48,840 --> 00:02:51,480 Speaker 3: pretty tough on the stock lately. Hire by seven tons 58 00:02:51,480 --> 00:02:53,960 Speaker 3: of one percent this morning, trading at two hundred and 59 00:02:54,120 --> 00:02:56,200 Speaker 3: nine dollars a share. Remember this is a company that's 60 00:02:56,240 --> 00:02:58,960 Speaker 3: been roiled by all the Apple headlines also getting us 61 00:02:58,960 --> 00:03:02,240 Speaker 3: some news at Fox Come is pulling Chinese staff from India, 62 00:03:02,520 --> 00:03:05,440 Speaker 3: which will, of course really hits their supply chain as well. Nevertheless, 63 00:03:05,440 --> 00:03:08,920 Speaker 3: the stock is up higher because it's getting an upgrade 64 00:03:09,240 --> 00:03:11,680 Speaker 3: this time over at you'll just give me a minute 65 00:03:11,760 --> 00:03:15,400 Speaker 3: over Jeffrey's giving an upgrade from a hold to a 66 00:03:15,480 --> 00:03:18,520 Speaker 3: hold from an underperform, basically saying that those trends from 67 00:03:18,600 --> 00:03:21,120 Speaker 3: China and those supply chain stories are changing and that 68 00:03:21,200 --> 00:03:24,200 Speaker 3: might be a positive for the stock higher by seven 69 00:03:24,240 --> 00:03:27,880 Speaker 3: tenths of one percent. Nathan, let's talk about some drinking. 70 00:03:28,040 --> 00:03:29,280 Speaker 3: I think is much's do it? 71 00:03:29,280 --> 00:03:31,080 Speaker 1: It's it's it's almost the fourth one. 72 00:03:31,160 --> 00:03:33,160 Speaker 3: It's almost it's almost the fourth. It's almost the end 73 00:03:33,200 --> 00:03:35,520 Speaker 3: of my day here in London, might as well, which 74 00:03:35,560 --> 00:03:40,640 Speaker 3: brings me to Constellation Brands STZ is your ticker down 75 00:03:40,680 --> 00:03:43,000 Speaker 3: about six tenths of one percent this morning, trading just 76 00:03:43,040 --> 00:03:46,440 Speaker 3: shy of one hundred and sixty six dollars a share. Now, 77 00:03:46,480 --> 00:03:48,120 Speaker 3: they actually came in with some of their earnings or 78 00:03:48,160 --> 00:03:52,160 Speaker 3: EPs missing on soft beer sales. They're saying that thereir 79 00:03:52,280 --> 00:03:54,720 Speaker 3: softer demand for wine and spirits. I don't know where 80 00:03:54,720 --> 00:03:57,760 Speaker 3: they're getting their information from. But not from this radio booth. 81 00:03:57,840 --> 00:04:00,680 Speaker 1: Nathan Well, I don't know if you heard the story 82 00:04:00,680 --> 00:04:03,760 Speaker 1: from Lisa Matteo that gen Z is drinking more compared 83 00:04:03,800 --> 00:04:06,800 Speaker 1: to baby boomers, So wait to keep up with the trend. 84 00:04:06,880 --> 00:04:12,880 Speaker 2: Well done the Stockmovers podcast from Bloomberg Radio. Check back 85 00:04:12,880 --> 00:04:15,320 Speaker 2: with us throughout the day for the latest roundup of 86 00:04:15,360 --> 00:04:18,560 Speaker 2: companies making news on Wall Street and for the latest 87 00:04:18,600 --> 00:04:22,760 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us 88 00:04:22,760 --> 00:04:26,120 Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android 89 00:04:26,160 --> 00:04:28,159 Speaker 2: Auto with the Bloomberg Business app.