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 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,880 --> 00:00:20,080 Speaker 1: I'm Carol Messer along with Alexis Christophers in for Tim 5 00:00:20,160 --> 00:00:21,880 Speaker 1: on this Thursday. Let's take look at some stocks in 6 00:00:21,920 --> 00:00:24,239 Speaker 1: the move today, and with us is Bloomberg News Equities 7 00:00:24,239 --> 00:00:28,640 Speaker 1: reporter at Alexandra Semenova alex Retailers. They've been front and center 8 00:00:28,680 --> 00:00:31,240 Speaker 1: for the last couple of weeks reporting earnings. Dollar General 9 00:00:31,360 --> 00:00:32,360 Speaker 1: at today, and. 10 00:00:32,320 --> 00:00:35,560 Speaker 3: We're learning something about the macro picture with this stock, 11 00:00:35,840 --> 00:00:39,120 Speaker 3: that consumers are hunting for bargain, so perhaps they're not 12 00:00:39,159 --> 00:00:41,360 Speaker 3: doing as well as we're hearing at the headline level. 13 00:00:41,680 --> 00:00:44,680 Speaker 3: Dollar General raised its full year outlook, a showing that 14 00:00:45,080 --> 00:00:48,639 Speaker 3: value focused retailers are doing very well as people are 15 00:00:48,680 --> 00:00:51,640 Speaker 3: looking for cheaper items. Their stock is rallying about twelve 16 00:00:51,720 --> 00:00:54,400 Speaker 3: percent right now, so good for the company, but a 17 00:00:54,520 --> 00:00:58,320 Speaker 3: sign that perhaps people are struggling with still very high costs. 18 00:00:58,440 --> 00:00:59,760 Speaker 1: I think it's interest to you when you're looking for 19 00:01:00,040 --> 00:01:02,520 Speaker 1: value and good deals at Dollar General, exactly. 20 00:01:03,080 --> 00:01:05,680 Speaker 4: Dollar Tree yesterday came out with very good earnings and 21 00:01:06,280 --> 00:01:09,880 Speaker 4: raised guidance and aren't they seeing higher income earners? 22 00:01:10,160 --> 00:01:10,560 Speaker 2: They are? 23 00:01:10,760 --> 00:01:13,360 Speaker 3: Yeah, And there another company that is kind of telling 24 00:01:13,440 --> 00:01:16,240 Speaker 3: us something is Walmart. There was a really good point 25 00:01:16,280 --> 00:01:18,880 Speaker 3: made today by Jim Paulson, veteran strategists. He said that 26 00:01:19,160 --> 00:01:23,319 Speaker 3: when Walmart outperforms global luxury retailers, that's a sign that 27 00:01:23,440 --> 00:01:27,480 Speaker 3: typically US consumption is not doing very well, and typically 28 00:01:27,560 --> 00:01:31,280 Speaker 3: it proceeds slower GDP growth. So perhaps some of these 29 00:01:32,160 --> 00:01:35,319 Speaker 3: low income focused names are a sign that maybe the 30 00:01:35,360 --> 00:01:35,920 Speaker 3: economy is in. 31 00:01:35,959 --> 00:01:37,800 Speaker 4: A little bit of Trump Tea leaves there. 32 00:01:37,720 --> 00:01:40,520 Speaker 1: Exactly, all right, So Dollar General DG down twelve percent. 33 00:01:40,560 --> 00:01:41,600 Speaker 1: I'm just taking a look at Walmart. 34 00:01:41,600 --> 00:01:42,360 Speaker 4: It's flat today. 35 00:01:42,400 --> 00:01:45,120 Speaker 1: But yeah, it's interesting to see that. In terms of 36 00:01:45,120 --> 00:01:47,840 Speaker 1: the narrative, I want to go media. 37 00:01:48,080 --> 00:01:50,920 Speaker 4: I mean, this bidding war for Warner Brothers Discovery is 38 00:01:50,960 --> 00:01:55,200 Speaker 4: getting confusing, it's getting ugly. Paramount sky Dance now has 39 00:01:55,240 --> 00:01:57,560 Speaker 4: something to say. They're accusing them right of not playing fair. 40 00:01:57,880 --> 00:02:02,160 Speaker 3: Yeah, alex is getting ugly, is right, it's really contentious now. Paramount, 41 00:02:02,280 --> 00:02:05,160 Speaker 3: one of the buyers buying for Warner Brothers, accused it 42 00:02:05,200 --> 00:02:08,120 Speaker 3: of failing to conduct a fair auction. They sent a 43 00:02:08,240 --> 00:02:11,520 Speaker 3: letter to CEO David Zaslov, saying that the company is 44 00:02:11,520 --> 00:02:14,720 Speaker 3: not acting in shareholders best interests. Look at the stock today, 45 00:02:14,720 --> 00:02:18,000 Speaker 3: it's down about one percent. In a response, Warner Brothers 46 00:02:18,040 --> 00:02:21,480 Speaker 3: said it had shared the Paramount letter with its board. 47 00:02:21,520 --> 00:02:24,440 Speaker 3: As we know, it has been officially put on sale 48 00:02:24,760 --> 00:02:28,720 Speaker 3: in October after receiving an offer from p Paramount. It 49 00:02:28,840 --> 00:02:33,200 Speaker 3: also has interest from Netflix, it has interest from comcasts. 50 00:02:33,240 --> 00:02:36,639 Speaker 3: So it's been really heated and people are. 51 00:02:36,560 --> 00:02:38,200 Speaker 4: And some are saying the Netflix is now the front 52 00:02:38,280 --> 00:02:40,200 Speaker 4: runner and mostly cash, but we don't know for how 53 00:02:40,280 --> 00:02:43,079 Speaker 4: much it apparently it is for the Paramount. 54 00:02:43,120 --> 00:02:46,320 Speaker 3: See. Yeah, but apparently Paramount clearly disappointed here. They feel 55 00:02:46,360 --> 00:02:46,960 Speaker 3: like they're not getting a. 56 00:02:46,960 --> 00:02:48,440 Speaker 1: Fair when you brought up to you, like on our 57 00:02:48,480 --> 00:02:51,359 Speaker 1: morning call, like do we know what the prices are? 58 00:02:51,639 --> 00:02:53,360 Speaker 1: We don't know completely. 59 00:02:52,960 --> 00:02:57,360 Speaker 4: There second numbers out, I mean, sixty billion was like 60 00:02:57,360 --> 00:02:59,359 Speaker 4: the last thing I saw publicly, So it's going to 61 00:02:59,400 --> 00:03:01,280 Speaker 4: be you would think worth of sixty billion exactly. 62 00:03:01,280 --> 00:03:04,400 Speaker 3: It's changing every day. And also point out that Paramount 63 00:03:04,440 --> 00:03:06,680 Speaker 3: is the only one of them that is actually trying 64 00:03:06,680 --> 00:03:09,320 Speaker 3: to take over the entire company, so it wants to 65 00:03:09,400 --> 00:03:14,600 Speaker 3: buy it's CNN exactly. 66 00:03:14,840 --> 00:03:17,359 Speaker 1: Yeah, let's remind everybody Warner Brothers Discovery right now is 67 00:03:17,440 --> 00:03:19,600 Speaker 1: a sixty billion dollar market cap company. 68 00:03:19,320 --> 00:03:21,600 Speaker 4: So they're looking for a little premium. Give them some 69 00:03:21,639 --> 00:03:26,040 Speaker 4: premium paramount. Also raised the breakup fee to five billion 70 00:03:26,120 --> 00:03:28,320 Speaker 4: dollars from a billion, so they're basically saying, look, we 71 00:03:28,360 --> 00:03:30,519 Speaker 4: think we're going to get regulatory approval if you guys 72 00:03:30,600 --> 00:03:31,000 Speaker 4: choose us. 73 00:03:31,040 --> 00:03:32,000 Speaker 3: Yeah, lots of big numbers. 74 00:03:32,120 --> 00:03:34,519 Speaker 1: Yeah, all right, MENA certainly a company we've been talking 75 00:03:34,520 --> 00:03:35,920 Speaker 1: about a lot today and it's higher. 76 00:03:36,120 --> 00:03:39,240 Speaker 3: This one is interesting because, as we know, Facebook rebranded 77 00:03:39,280 --> 00:03:41,880 Speaker 3: to be meta platforms, and here they are saying that 78 00:03:41,920 --> 00:03:44,520 Speaker 3: they're going to cut resources for building out the so 79 00:03:44,640 --> 00:03:48,880 Speaker 3: called metaverse that hasn't served them well. Where Zuckerberg seems 80 00:03:48,920 --> 00:03:52,080 Speaker 3: to want to scale back on this business endeavor. He 81 00:03:52,160 --> 00:03:54,680 Speaker 3: once framed this as the future of the company. It 82 00:03:54,720 --> 00:03:56,480 Speaker 3: was all about the metaverse, and then we kind of 83 00:03:56,520 --> 00:03:59,520 Speaker 3: stopped hearing about it in the last few years. Executives 84 00:03:59,560 --> 00:04:02,720 Speaker 3: are a parent only a considering potential budget cuts of 85 00:04:02,760 --> 00:04:06,000 Speaker 3: as high as thirty percent for this part of the business, 86 00:04:06,120 --> 00:04:09,640 Speaker 3: and they could see layoffs as soon as January. Apparently, 87 00:04:09,720 --> 00:04:13,480 Speaker 3: these discussions were had in a closed meeting at Mark 88 00:04:13,640 --> 00:04:17,279 Speaker 3: Zuckerberg's compound in Hawaii as they were deciding budget plans. 89 00:04:17,279 --> 00:04:18,880 Speaker 1: You're going to have a meeting, why not do it there? 90 00:04:19,160 --> 00:04:22,680 Speaker 3: I mean sign me up investors feels a little Yeah, 91 00:04:22,839 --> 00:04:25,400 Speaker 3: investors clearly like the news. Do The stock is up 92 00:04:25,680 --> 00:04:27,320 Speaker 3: three point five percent right now. 93 00:04:27,600 --> 00:04:30,080 Speaker 1: Got to say an incredible scoop and exclusive by our 94 00:04:30,120 --> 00:04:30,919 Speaker 1: own Kurt Wagner. 95 00:04:31,000 --> 00:04:34,239 Speaker 3: It's incredibly good story. But it's something we talked. 96 00:04:34,040 --> 00:04:36,520 Speaker 1: About too that you know, investors in analysts have kind 97 00:04:36,520 --> 00:04:37,360 Speaker 1: of wanted this. 98 00:04:37,560 --> 00:04:42,640 Speaker 3: So it's the companies say, maybe really generating much for them, So. 99 00:04:42,640 --> 00:04:44,720 Speaker 4: It's anything they thought it was a drag on resources. 100 00:04:44,800 --> 00:04:46,520 Speaker 4: But I guess in a coup for Meta yesterday they 101 00:04:47,279 --> 00:04:50,640 Speaker 4: stole away an Apple design exec. Right. 102 00:04:50,760 --> 00:04:53,200 Speaker 3: Yeah, that's another interesting to see some of the hiring 103 00:04:53,240 --> 00:04:56,599 Speaker 3: going on between these Mac seven companies just poaching talent. 104 00:04:58,040 --> 00:05:02,040 Speaker 2: The stock Mover's report from Bloomberg Radio. 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