1 00:00:02,560 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,480 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 00:00:16,800 --> 00:00:19,680 Speaker 1: I'm Jim Stativik along with Nora Melinda. Let's take a 5 00:00:19,720 --> 00:00:22,120 Speaker 1: look at some stocks on the move today. We're joined 6 00:00:22,160 --> 00:00:26,440 Speaker 1: by Bloomberg News Deputy team leader for US Equities, Jess Menton. Jess, 7 00:00:26,440 --> 00:00:29,720 Speaker 1: if you're looking at stocks that are moving lower. 8 00:00:30,080 --> 00:00:31,920 Speaker 3: Wow, you got a lot to choose from. 9 00:00:32,040 --> 00:00:34,000 Speaker 4: There is a lot today, and of course I have 10 00:00:34,120 --> 00:00:36,920 Speaker 4: to talk about Walmart, just given its among some of 11 00:00:36,960 --> 00:00:39,120 Speaker 4: the top decliners in the S and P five hundred 12 00:00:39,200 --> 00:00:41,839 Speaker 4: also a doubt component, so that's why you've seen that 13 00:00:41,880 --> 00:00:44,240 Speaker 4: weighing on that. So that stalks it down about five 14 00:00:44,360 --> 00:00:47,839 Speaker 4: percent on pace for its worst day since February twentieth. 15 00:00:47,880 --> 00:00:50,400 Speaker 4: It's an interesting story here because when it comes to Walmart, 16 00:00:50,400 --> 00:00:53,199 Speaker 4: retailer is a big tell on the consumer. So it 17 00:00:53,240 --> 00:00:56,280 Speaker 4: did have a rare profit miss and it was actually 18 00:00:56,320 --> 00:00:58,760 Speaker 4: the first time in three years, so that did overshadow 19 00:00:58,880 --> 00:01:00,840 Speaker 4: some of the strength we saw when it came to 20 00:01:01,040 --> 00:01:03,920 Speaker 4: higher sales growth. But I wanted to point out actually 21 00:01:03,920 --> 00:01:06,360 Speaker 4: coming into this year, Walmart was trading more like a 22 00:01:06,360 --> 00:01:10,600 Speaker 4: growth stock rather than a value stock before it reported 23 00:01:10,640 --> 00:01:12,720 Speaker 4: its earnings back in February. If you looked over like 24 00:01:12,720 --> 00:01:15,600 Speaker 4: a twelve month basis, it was up around seventy percent. 25 00:01:15,600 --> 00:01:18,080 Speaker 4: So there's only two other mag seven stocks that didn't 26 00:01:18,080 --> 00:01:20,240 Speaker 4: outperform at that time. It was like a Video and Tesla. 27 00:01:20,360 --> 00:01:23,039 Speaker 4: So it's an interesting story just given words valuation was 28 00:01:23,360 --> 00:01:25,919 Speaker 4: coming into this year, and obviously back to school shopping 29 00:01:26,000 --> 00:01:29,399 Speaker 4: seasons second most important for retailers, ahead of course the 30 00:01:29,440 --> 00:01:32,800 Speaker 4: holiday shopping season. So looking at that, but even though 31 00:01:32,840 --> 00:01:35,480 Speaker 4: you saw some of this rare profit miss and some 32 00:01:35,520 --> 00:01:38,040 Speaker 4: of those higher claims, there still was a bright spot 33 00:01:38,080 --> 00:01:40,720 Speaker 4: when it came to sales. But again we'll still have 34 00:01:40,840 --> 00:01:43,520 Speaker 4: others raw stores reporting after the bell. We heard from 35 00:01:43,520 --> 00:01:46,800 Speaker 4: Target earlier this week, and so keeping a close eye 36 00:01:46,840 --> 00:01:49,240 Speaker 4: on that. And obviously it's grocery business and how important 37 00:01:49,240 --> 00:01:52,560 Speaker 4: that is when you're those ties to inflation and with 38 00:01:52,680 --> 00:01:55,040 Speaker 4: even some of the tariff issues there, those still are 39 00:01:55,040 --> 00:01:56,360 Speaker 4: going to take a while for a lot of that 40 00:01:56,400 --> 00:01:58,080 Speaker 4: to show up in the company's report. 41 00:01:57,960 --> 00:02:00,520 Speaker 5: Right, and you really are seeing some weakness here. Walmart 42 00:02:00,520 --> 00:02:03,080 Speaker 5: shares down as much as four or five point five 43 00:02:03,120 --> 00:02:05,480 Speaker 5: percent in trading today. But when look at Wall Street, 44 00:02:05,520 --> 00:02:08,520 Speaker 5: we are still seeing forty three buys, one hold and 45 00:02:08,600 --> 00:02:10,720 Speaker 5: one sell. So it doesn't seem as though it's too 46 00:02:10,840 --> 00:02:14,000 Speaker 5: much of a negative shock here quite yet. Talk to 47 00:02:14,080 --> 00:02:15,880 Speaker 5: us about Cody. You're also keeping an eye there. 48 00:02:15,880 --> 00:02:16,280 Speaker 3: Adjusts. 49 00:02:16,680 --> 00:02:19,200 Speaker 4: This is quite the drop, so it's down over twenty 50 00:02:19,400 --> 00:02:23,040 Speaker 4: one percent. The taker symbol on this is Cooty and 51 00:02:23,160 --> 00:02:25,720 Speaker 4: also of course it's on Paceport, its worst day actually 52 00:02:25,800 --> 00:02:28,800 Speaker 4: since March of twenty twenty. So this is an important 53 00:02:28,800 --> 00:02:32,160 Speaker 4: company because it is also in the consumer type of 54 00:02:32,200 --> 00:02:35,360 Speaker 4: retail space, so beauty and sense type of company. So 55 00:02:35,720 --> 00:02:38,640 Speaker 4: to put into context for how it's tied to some 56 00:02:38,680 --> 00:02:42,079 Speaker 4: of these, it's the Rimmel owner, and it actually posted 57 00:02:42,160 --> 00:02:45,680 Speaker 4: a unexpected quarterly adjusted loss of five cents per share. 58 00:02:46,040 --> 00:02:48,880 Speaker 4: Analysts over at Deutsche Bank though they were flagging out 59 00:02:48,880 --> 00:02:52,519 Speaker 4: that company also faces some transitions here and setbacks from 60 00:02:52,560 --> 00:02:56,040 Speaker 4: internal executive challenges, but they think that the company can 61 00:02:56,160 --> 00:02:58,640 Speaker 4: kind of get over potentially that hurdle. But it was 62 00:02:58,960 --> 00:03:02,080 Speaker 4: of course a setback and indisputable there. But that is 63 00:03:02,120 --> 00:03:05,360 Speaker 4: one of those stocks really getting pummeled, actually down twenty 64 00:03:05,400 --> 00:03:06,359 Speaker 4: one point five percent. 65 00:03:06,440 --> 00:03:09,079 Speaker 1: Right now, we got to save some time for cracker Barrel. 66 00:03:10,280 --> 00:03:14,239 Speaker 1: I don't understand. I don't understand the discourse here around 67 00:03:14,919 --> 00:03:17,560 Speaker 1: this logo change, which is just has hit the stock 68 00:03:17,680 --> 00:03:18,080 Speaker 1: so hard. 69 00:03:18,160 --> 00:03:20,079 Speaker 4: It really hasn't. I mean, I'm from the South, I've 70 00:03:20,080 --> 00:03:22,160 Speaker 4: lived there years. 71 00:03:22,040 --> 00:03:24,960 Speaker 1: Or emblematic of the world we live in when like 72 00:03:25,400 --> 00:03:28,480 Speaker 1: you know, offspring of politicians are getting involved in this 73 00:03:28,720 --> 00:03:30,280 Speaker 1: logo dispute with the company. 74 00:03:30,360 --> 00:03:32,079 Speaker 4: It's true, and I always thought about, you know what 75 00:03:32,200 --> 00:03:34,800 Speaker 4: it'd be in the highways in Texas where you'd see 76 00:03:34,880 --> 00:03:38,560 Speaker 4: kind of the uh rolling, sort of the chairs they 77 00:03:38,600 --> 00:03:42,560 Speaker 4: had outside the business. Same in Virginia, right exactly, but 78 00:03:42,680 --> 00:03:45,680 Speaker 4: you did see this so specifically the ticker symbol for 79 00:03:45,760 --> 00:03:49,000 Speaker 4: a cracker barrel c b RL on this and it's 80 00:03:49,080 --> 00:03:51,680 Speaker 4: down actually eight percent right now, on pace for its 81 00:03:51,680 --> 00:03:54,360 Speaker 4: worst day since June tenth. But also it's been on 82 00:03:54,440 --> 00:03:58,440 Speaker 4: a string of losses right now. So EXTIMUUS declines to 83 00:03:58,480 --> 00:04:01,040 Speaker 4: a fifth straight day, So there's a wave. Of course, 84 00:04:01,080 --> 00:04:03,320 Speaker 4: Tim was talking about that wave of social media post 85 00:04:03,320 --> 00:04:06,640 Speaker 4: surrounding that recent logo change there and really kind of 86 00:04:06,640 --> 00:04:09,000 Speaker 4: disrupting a lot of this. So the restaurant operator actually 87 00:04:09,040 --> 00:04:12,400 Speaker 4: issued a statement back on August nineteenth, so that would 88 00:04:12,400 --> 00:04:15,440 Speaker 4: have been on Tuesday announcing that it would be launching 89 00:04:15,440 --> 00:04:19,680 Speaker 4: a new campaign featuring country music per performer Jordan Davis. 90 00:04:19,720 --> 00:04:22,080 Speaker 4: So while also tweaking its logo, so a little bit 91 00:04:22,120 --> 00:04:25,320 Speaker 4: different here, probably unexpected for people, to Tim's point, a 92 00:04:25,320 --> 00:04:27,360 Speaker 4: lot of people jumping in on this, and then Cracker 93 00:04:27,400 --> 00:04:30,280 Speaker 4: Barrel actually was one of the top trading tickers on 94 00:04:30,640 --> 00:04:34,000 Speaker 4: stock twits, so my belief of the retail crowd as 95 00:04:34,040 --> 00:04:38,360 Speaker 4: well talking about this. So Cracker Barrel didn't immediately reply 96 00:04:38,480 --> 00:04:40,359 Speaker 4: to a request for comments for reporters that are on 97 00:04:40,400 --> 00:04:42,920 Speaker 4: that story right now, But it's an interesting move here, 98 00:04:42,960 --> 00:04:45,720 Speaker 4: and especially just given not even just today's losses, but 99 00:04:46,279 --> 00:04:48,080 Speaker 4: the stream that it's been on for a while. 100 00:04:48,000 --> 00:04:48,479 Speaker 3: I will say. 101 00:04:48,480 --> 00:04:51,320 Speaker 1: Michael Halen of Bloomberg Intelligence, he's a senior analyst. He 102 00:04:51,360 --> 00:04:53,880 Speaker 1: says he does not expect Cracker Barrel to experience a 103 00:04:53,920 --> 00:04:57,640 Speaker 1: prolonged negative reaction, worries that the misinformation on social media 104 00:04:57,680 --> 00:05:00,520 Speaker 1: and concern about the post will result in such similar 105 00:05:00,520 --> 00:05:01,440 Speaker 1: to what happened with bud Light. 106 00:05:01,760 --> 00:05:05,240 Speaker 3: Our quote unfounded. According to a recent note that he wrote. 107 00:05:06,760 --> 00:05:11,000 Speaker 2: The Stockmover's report from Bloomberg Radio check back with us 108 00:05:11,040 --> 00:05:13,839 Speaker 2: throughout the day for the latest roundup of companies making 109 00:05:13,920 --> 00:05:17,520 Speaker 2: news on Wall Street, and for the latest market moving headlines. 110 00:05:17,720 --> 00:05:21,760 Speaker 2: Listen to Bloomberg Radio Live. 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