WEBVTT - Datadog Outlook Surges, Tapestry Declines with Eye on Q4, & Whirlpool Tumbles with Consumer Demand

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Jim Statovec along with Carol Mass. Let's take a

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<v Speaker 3>look at some stocks on the move today. We are

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<v Speaker 3>joined by Bloomberg News. Acuis reporter Avalon Pernell. Earnings still

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<v Speaker 3>coming in big, and we're seeing big moves as a

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<v Speaker 3>result of these earnings.

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<v Speaker 1>We are Data Dog that is ticker d Dog jumping

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<v Speaker 1>now currently about thirty percent most of your day since

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<v Speaker 1>twenty twenty three. That's after to software as a service

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<v Speaker 1>company's first quarter results blue pass expectations, and they also

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<v Speaker 1>boosted their full year guidance. I thought it was really

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<v Speaker 1>interesting that Evercore also had a great note out saying

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<v Speaker 1>that the forecast implies a healthy outlook for the second

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<v Speaker 1>half of the year, which I feel like we haven't

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<v Speaker 1>been hearing that as much for software as a service companies.

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<v Speaker 1>But Data Dog is definitely doing well.

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<v Speaker 3>The stock has been getting really beat up. If you

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<v Speaker 3>look at where it was earlier this month, it was

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<v Speaker 3>down close to fifty percent from highs just back in November.

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<v Speaker 3>But now with today's increase, it's at the highest levels

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<v Speaker 3>going back to last year to November, so it's actually

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<v Speaker 3>getting closer to that high of last year.

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<v Speaker 1>You know.

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<v Speaker 4>I'm always like, well, okay, besides having a rough, rough

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<v Speaker 4>good name, they're a cloud based platform. They help companies

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<v Speaker 4>monitor and analyze activity on their network. So this plays

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<v Speaker 4>into as more AI tools are adopted, right, Folks need

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<v Speaker 4>these kinds of systems to kind of keep a track

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<v Speaker 4>of it all. So yeah, it's just like all these

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<v Speaker 4>ancillary you know that a Doug Yeah, real rough, I know,

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<v Speaker 4>there we go, We're shall we go next.

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<v Speaker 1>Tapestry, let's tick your TPR. Not as great news there.

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<v Speaker 1>It's currently falling about eleven percent right now most interday

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<v Speaker 1>since November. That's after the parent company of brands like

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<v Speaker 1>Coach and Kate Spade gave a full year guidance at

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<v Speaker 1>disappointed investors. Good point to mention that they just released

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<v Speaker 1>their third quarter results, so now it's had like an

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<v Speaker 1>implied fourth quarter question and Evercore says that the fourth

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<v Speaker 1>quarter guidance implied shows that there could be a slight

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<v Speaker 1>slow down at Coach, which we know coaches really been

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<v Speaker 1>powering a lot of their gains and strength the less,

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<v Speaker 1>so consumers not buy that's the question. I mean, if

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<v Speaker 1>you look to like the management, they said, the commentary

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<v Speaker 1>looks very differently. We're saying, no, gen z and younger

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<v Speaker 1>millennials are still buying our products. But the fourth quarter, implied,

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<v Speaker 1>seems a little bit conservative right.

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<v Speaker 4>Now, Yeah, it does indeed. All right, off to the

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<v Speaker 4>third choice, we go a company we love talking to, Whirlpool.

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<v Speaker 1>Yes, that is ticker WHR currently down about twelve percent

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<v Speaker 1>to hit the lowest inter day level since twenty eleven.

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<v Speaker 1>That's after a household appliances manufacturers slashed its full year

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<v Speaker 1>guidance and also disappointed generally speaking across the print management

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<v Speaker 1>set at the war in Iran resulted in recession level

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<v Speaker 1>industry decline in the US as consumers kind of look

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<v Speaker 1>elsewhere or just choose to not upgrade their appliances. So

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<v Speaker 1>definitely something to keep an eye on.

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<v Speaker 3>Markets are the company we spoken in quite a bit

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<v Speaker 3>over the past few years, he said.

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<v Speaker 1>Quote.

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<v Speaker 3>The combination of dropping consumer sentiment, decline of consumer demand,

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<v Speaker 3>and the irrational industry pricing created an almost perfect storm

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<v Speaker 3>during this first quarter.

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<v Speaker 4>That's a lot. Yeah, that's pretty hefty. Especially when you

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<v Speaker 4>have so many folks. I feel like you get enthusiasm

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<v Speaker 4>from market watchers saying the economic numbers look good, things

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<v Speaker 4>look good, and yet this is speaking really clearly to

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<v Speaker 4>where consumers are not really.

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<v Speaker 3>I mean, you look at this chart over the last

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<v Speaker 3>five years, and it's just been a steady move down

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<v Speaker 3>following the high of twelve of the end of the

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<v Speaker 3>year of twenty twenty one. So since the beginning of

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<v Speaker 3>twenty twenty two, stock is down seventy four percent.

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<v Speaker 2>Yeah.

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<v Speaker 4>I don't know if this is indicative, but I just

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<v Speaker 4>makeup room today and just all of us were talking

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<v Speaker 4>about shelter costs. Folks who don't do spend money on healthcare.

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<v Speaker 4>They're younger, but they're just like you know, maybe you know,

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<v Speaker 4>but I just have to make choices. Car payments that

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<v Speaker 4>are on average six or seven hundred dollars. You know,

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<v Speaker 4>you throw insurance on top of it. It's really tricky

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<v Speaker 4>for a lot of households. So an interesting swath of

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<v Speaker 4>stocks right in terms of what's going on in our world. Avalon,

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<v Speaker 4>thank you, always appreciate Avalon Pronounce's Bloomberg News Equities reporter.

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<v Speaker 3>With today's stockmovers for more conversations like this. Check out

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<v Speaker 4>You know they're called Stockmovers. Chris, there's stocks on the Move.

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<v Speaker 3>Yeah, it's a really good name for the show. It

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<v Speaker 3>kind of tells you what you're getting.

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<v Speaker 2>the bloom Berg Business app. Mm hmm