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: This Stock Mover's 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 00:00:16,600 --> 00:00:18,759 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:19,040 --> 00:00:22,120 Speaker 1: Alexis Christopher is just in the phone trying to land 6 00:00:22,239 --> 00:00:26,120 Speaker 1: some Amazon debt. So she's back on the equity watch 7 00:00:26,200 --> 00:00:27,840 Speaker 1: right now, what do you have? It's a podcast? 8 00:00:27,960 --> 00:00:31,040 Speaker 3: All right, I've got Coles. This stock now down about 9 00:00:31,120 --> 00:00:33,199 Speaker 3: one point six percent, but you know, earlier it was 10 00:00:33,280 --> 00:00:36,400 Speaker 3: down like twelve percent, so it's really come off its lows, 11 00:00:36,479 --> 00:00:38,720 Speaker 3: but still been a rough start to the year. Coles 12 00:00:38,760 --> 00:00:42,360 Speaker 3: is down twenty seven percent. Here's the story. Sales missed 13 00:00:42,560 --> 00:00:45,560 Speaker 3: estimates last quarter. We know this company has been trying 14 00:00:45,560 --> 00:00:47,920 Speaker 3: to turn things around for a while. They had a 15 00:00:47,960 --> 00:00:53,559 Speaker 3: really volatile year a last year when their CEO was 16 00:00:53,600 --> 00:00:56,480 Speaker 3: directing millions of dollars of business to someone who he 17 00:00:56,600 --> 00:00:58,960 Speaker 3: had an undisclosed personal relationship with. 18 00:00:59,120 --> 00:01:00,920 Speaker 1: So that it seems to be there right now. 19 00:01:01,280 --> 00:01:02,800 Speaker 3: Yeah, you mean that trend. 20 00:01:03,280 --> 00:01:05,760 Speaker 1: Yeah, it's like in the news. Ohio State was in 21 00:01:05,800 --> 00:01:09,759 Speaker 1: the news. That's right, that's four hours. 22 00:01:08,680 --> 00:01:11,080 Speaker 3: Very true. So now they've got their chairman Michael Bender 23 00:01:11,760 --> 00:01:14,000 Speaker 3: as their new CEO. But basically they said, look, we 24 00:01:14,120 --> 00:01:16,640 Speaker 3: lost the competitive ground during all the high traffic shopping 25 00:01:16,680 --> 00:01:20,320 Speaker 3: windows Black Friday, Cyber Monday, Christmas, so Cole's trying to 26 00:01:20,360 --> 00:01:22,440 Speaker 3: turn it around. They say there is a more value 27 00:01:22,440 --> 00:01:24,880 Speaker 3: conscious shopper out there. We've known that for a long time, 28 00:01:24,920 --> 00:01:28,720 Speaker 3: but apparently they're not seeing that value at Cole's. So 29 00:01:29,080 --> 00:01:31,280 Speaker 3: that's Oh and also, wait, I just want to tell 30 00:01:31,280 --> 00:01:34,400 Speaker 3: you about comparable same store sales. This is important because 31 00:01:34,520 --> 00:01:36,400 Speaker 3: those are the sales that stores open at least a year, 32 00:01:36,440 --> 00:01:38,399 Speaker 3: and it's really seen as a benchmark. They slid two 33 00:01:38,440 --> 00:01:41,240 Speaker 3: point eight percent, more than double what Wall Street was 34 00:01:41,280 --> 00:01:43,280 Speaker 3: looking for. So they've got their were cut out for them. 35 00:01:43,319 --> 00:01:47,319 Speaker 3: Over at Coles taking a look at Lint. That's the 36 00:01:47,400 --> 00:01:48,560 Speaker 3: Swiss chocolate company. 37 00:01:50,000 --> 00:01:53,760 Speaker 1: Yes, yes, I make my charitable contribution. 38 00:01:54,840 --> 00:01:57,559 Speaker 3: Nice to know. Well, they can use it today because 39 00:01:57,600 --> 00:02:00,400 Speaker 3: this dock is melting down more than eleven percent, the 40 00:02:00,440 --> 00:02:04,200 Speaker 3: most in almost twenty years. So Lint lowered its full 41 00:02:04,280 --> 00:02:08,520 Speaker 3: year sales guidance. It's actually citing geopolitical turmoil. It says 42 00:02:08,560 --> 00:02:12,240 Speaker 3: the war in the Gulf region will affect transportation and packaging, 43 00:02:12,639 --> 00:02:15,560 Speaker 3: and it might also further depress consumer sentiment in the 44 00:02:15,680 --> 00:02:20,160 Speaker 3: US and Europe. They had a price hikes last year 45 00:02:20,160 --> 00:02:22,720 Speaker 3: of almost twenty percent. That didn't do it didn't cover 46 00:02:22,800 --> 00:02:25,840 Speaker 3: the cost of increasing ingredients because remember, coco has been 47 00:02:25,880 --> 00:02:28,400 Speaker 3: at a near record high. So Lint now dealing with 48 00:02:28,440 --> 00:02:30,920 Speaker 3: things on two fronts, the Warren Irun and of course 49 00:02:31,000 --> 00:02:33,720 Speaker 3: these higher cocoa prices, which have come off their highs, 50 00:02:33,720 --> 00:02:36,720 Speaker 3: but still an issue for companies like Lint. All right, 51 00:02:36,800 --> 00:02:39,400 Speaker 3: I've got this one for you, beyond meat. You know, 52 00:02:39,440 --> 00:02:42,000 Speaker 3: it's hard to believe beyond meat. Back in twenty nineteen, 53 00:02:42,040 --> 00:02:43,840 Speaker 3: it was a two hundred and thirty five dollars stock. 54 00:02:44,040 --> 00:02:47,640 Speaker 3: It is now trading at seventy six cents and maybe 55 00:02:47,800 --> 00:02:52,360 Speaker 3: delisted from the Nasdaq. So they're trying everything now, dropping 56 00:02:52,400 --> 00:02:57,240 Speaker 3: the word meat from their title, which, by the way, 57 00:02:57,240 --> 00:02:58,919 Speaker 3: they're not a meat company to begin with, right, They're 58 00:02:58,919 --> 00:03:02,919 Speaker 3: a plant based protein company. Really, yeah, So the company 59 00:03:03,120 --> 00:03:05,560 Speaker 3: is going to now come out with new products like 60 00:03:05,840 --> 00:03:10,200 Speaker 3: plant based protein beverages and a bar. 61 00:03:10,520 --> 00:03:14,079 Speaker 1: At some degrees. I'm at the Bloomberg summer party, okay, 62 00:03:14,520 --> 00:03:17,120 Speaker 1: and I go up and somebody in the family says, 63 00:03:17,280 --> 00:03:20,840 Speaker 1: try one of those burgers. So I took a bite, 64 00:03:21,200 --> 00:03:24,520 Speaker 1: and the whole securities analysis community should have just listened 65 00:03:24,520 --> 00:03:26,560 Speaker 1: to me. I took a bite. 66 00:03:26,680 --> 00:03:30,200 Speaker 3: You want your real meat. Got one more Yeah, Veil Resorts, 67 00:03:30,440 --> 00:03:34,600 Speaker 3: thank you, ticker MT and I likes yeah they I mean, 68 00:03:35,440 --> 00:03:39,520 Speaker 3: total ski visitors down about twelve percent at North American resorts. Basically, 69 00:03:39,600 --> 00:03:43,120 Speaker 3: mother nature didn't come to play. They didn't get enough snow. 70 00:03:43,480 --> 00:03:46,360 Speaker 3: So now Veil Resorts is going to introduce new pricing initiatives. 71 00:03:46,360 --> 00:03:49,040 Speaker 3: They're going to discount lift tickets and give a twenty 72 00:03:49,120 --> 00:03:52,040 Speaker 3: percent cut for next year's epic pass. That's for younger 73 00:03:52,080 --> 00:03:54,280 Speaker 3: people as they try to drive younger people there to 74 00:03:54,320 --> 00:03:57,040 Speaker 3: the mountain. But again, the weather really did a number 75 00:03:57,080 --> 00:03:59,600 Speaker 3: on Veil all in all ski resorts really this year. 76 00:04:00,560 --> 00:04:04,800 Speaker 2: The Stockmovers Report from Bloomberg Radio. 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