Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Emily Grifeo and with us is Bloomberg Television Markets
Speaker 1: correspondent Nora Melinda. All Right, Noura, We're going to start
Speaker 1: with a consumer company on the move.
Speaker 3: Yeah, let's look at shares of McDonald's. This is take
Speaker 3: our MCD. We're seeing shares up about two point six
Speaker 3: percent right now, and this is after they actually saw
Speaker 3: some customers really feeling enticed by their discounts. I mean,
Speaker 3: the McDonald's really been throwing a lot of discounts out there,
Speaker 3: trying to make it easier for a lot of these
Speaker 3: consumers to grapple with the higher tear of environment, and
Speaker 3: that seems to apparently be paying off here as we
Speaker 3: really are seeing consumers doing you know, a lot of
Speaker 3: these fast food restaurants doing okay with consumers still willing
Speaker 3: to go there. But you are seeing fash casual restaurants
Speaker 3: like Kava for instance, Ticker Cava and others like Chipotle,
Speaker 3: a lot of those fast casual restaurants, it seems as
Speaker 3: though consumers are not really willing to pay as much anymore.
Speaker 1: Interesting and in McDonald's here though, this is a sign
Speaker 1: then that people are trading down. People who may have
Speaker 1: been going to a more expensive restaurant are now turning
Speaker 1: towards a cheaper option, right, And of course we do
Speaker 1: know that when you think about the lower income consumer.
Speaker 3: Of course McDonald's tends to be in the rotation if
Speaker 3: you think about where you'd like to get food and
Speaker 3: places where you can kind of get it on a budget.
Speaker 3: But I mean, I do think that you are seeing
Speaker 3: even McDonald's, which has been known to be more affordable,
Speaker 3: actually having this gale back and can create prices that
Speaker 3: are lower, more reasonable for the consumer to essentially, you know,
Speaker 3: to meet them where they are, if you will, and
Speaker 3: to continue to entice them here because it's not really
Speaker 3: working out for the likes of Kava for instance, where
Speaker 3: you are seeing consumers not wanting to pay as much
Speaker 3: for fast casual restaurants. Yeah, Kava bowl a slot bowl,
Speaker 3: if we can call it that, it's expensive now. They're
Speaker 3: pricey fifteen sixteen dollars, especially here in New York City.
Speaker 3: Of course ours are priced a bit higher, but you're
Speaker 3: starting to see people saying, hey, I'm not willing to
Speaker 3: spend this type of money on of course food and
Speaker 3: essential but if you think about fast casual a discretionary
Speaker 3: item here, So you are seeing a lot of people
Speaker 3: starting to trade now and you're definitely seeing McDonald's benefiting
Speaker 3: from that. Okay, and then.
Speaker 1: Kava ticker Cava, that stock was down as much as
Speaker 1: four percent, but it's about flat right now, Where did
Speaker 1: we learn from that move?
Speaker 3: Today? Hearing its decline, but still the stock has really
Speaker 3: had a rough year. Here's are down about fifty four
Speaker 3: percent so for a year to date, and this is
Speaker 3: of course the company slashing its full year sales growth target.
Speaker 3: They're saying that foot traffic has stalled in the third
Speaker 3: quarter and they're really seeing cost consumers that are financially
Speaker 3: squeezed here really foregoing a lot of the fast casual restaurants.
Speaker 3: As we've been discussing here, I mean we heard from Shakeshack,
Speaker 3: I mean we heard from Chipotle. We've been hearing from
Speaker 3: a lot of those in the fast casual space, and
Speaker 3: it seems to be the same read through here consumers
Speaker 3: struggling right now?
Speaker 1: What is the Nora Melinda Bloomberg, Television Markets correspondent, lunch order.
Speaker 3: I'm not at Covex, you're not at com I have
Speaker 3: to run over to Chipotle, which I know is one
Speaker 3: of your favorites.
Speaker 1: EMLA, Yes, I do like Chipotle. I recently discovered the
Speaker 1: Chipotle hack. You can order from the kids menu now
Speaker 1: and you can save money.
Speaker 3: I don't know if there you go.
Speaker 1: I don't know what the read into the consumer outlook.
Speaker 1: There is that love the kids right ordering from the
Speaker 1: kids menu? But yeah, I mean everything's getting more expensive.
Speaker 1: Speaking of expenses, tickets are expensive, going to concerts are expensive.
Speaker 1: What's Live Nation doing right?
Speaker 3: Are we still doing that right? People still going to concerts? Well,
Speaker 3: we are seeing we did see a sales miss for
Speaker 3: Live Nation here. That's sicker LYV and An. It's really
Speaker 3: saying this is a good but not great reports. They
Speaker 3: do see long term prospects that still remain promising. But
Speaker 3: in terms of this current time period, you are seeing
Speaker 3: a lot of consumers not spending on concerts. Of course
Speaker 3: another discretionary items. We're seeing shares of Live Nation down
Speaker 3: about eight and a half percent, right, now as we speak,
Speaker 3: but earlier Plunch looking for their worst day since twenty
Speaker 3: twenty three, down as much as ten percent. But the
Speaker 3: company did also talk about some income tax pressure, particularly
Speaker 3: from the Trump Tax and Spending bill. But really what's
Speaker 3: being underscored here is the consumer that we're still keeping
Speaker 3: a very close eye on.
Speaker 1: Interesting right, and so Live Nation missing on revenue and
Speaker 1: concerts revenue. So the revenue's eight point five billion versus
Speaker 1: estimates about eight point six one Northlinda, thank you for
Speaker 1: joining us. Next Live Nation lyv.
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