WEBVTT - Ulta Slips, GameStop Climbs, Medtronic Gains

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.120
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.440 --> 0:00:17.840
<v Speaker 1>Let's take a look at some of the stocks on

0:00:17.880 --> 0:00:20.640
<v Speaker 1>the move today again. I'm Isabell Lee with Alexis. Christopher

0:00:20.680 --> 0:00:23.119
<v Speaker 1>is sitting in for Carol Masser and Tim Stenevik, and

0:00:23.160 --> 0:00:26.320
<v Speaker 1>we are joined by Bloomberg News Equities reporter Avalon Parnell.

0:00:26.440 --> 0:00:28.920
<v Speaker 1>So thank you for joining us here in the studio. Avalon,

0:00:29.040 --> 0:00:29.960
<v Speaker 1>what are you looking at?

0:00:30.200 --> 0:00:33.800
<v Speaker 3>I think Alta, Yes, Alta Beauty that's ticker Alta currently

0:00:33.840 --> 0:00:36.960
<v Speaker 3>down about five point three percent most intra day since March,

0:00:37.159 --> 0:00:40.159
<v Speaker 3>and that's after the beauty retailer's outlook implied a slightly

0:00:40.240 --> 0:00:43.320
<v Speaker 3>weaker than expected second half of the year. Jeffrey's writing

0:00:43.360 --> 0:00:46.080
<v Speaker 3>that the conservative setup could leave room for upside as

0:00:46.159 --> 0:00:49.960
<v Speaker 3>management remains cautious, especially as the war and Iran continues.

0:00:50.240 --> 0:00:51.960
<v Speaker 1>You know, Alexis, I don't know if I should admit this,

0:00:52.040 --> 0:00:54.880
<v Speaker 1>but I've never been to an Alta. Yeah, kind, I

0:00:54.960 --> 0:00:56.440
<v Speaker 1>just always today towards Sephora.

0:00:56.640 --> 0:00:58.560
<v Speaker 4>We I don't know, well, you know, Sophora is right

0:00:58.560 --> 0:01:01.200
<v Speaker 4>across from most of your investry in Midtown, but there

0:01:01.200 --> 0:01:03.280
<v Speaker 4>are quite a few Altars a lot, yes, and that

0:01:03.400 --> 0:01:05.800
<v Speaker 4>both stores have a different vibe, I must say. But

0:01:06.120 --> 0:01:08.920
<v Speaker 4>I have to say, though avalon Altas report, I mean,

0:01:09.600 --> 0:01:11.400
<v Speaker 4>all the fundamentals that you want to see were there.

0:01:11.400 --> 0:01:13.280
<v Speaker 4>So I'm a little surprised the stock is selling off

0:01:13.280 --> 0:01:14.240
<v Speaker 4>the way that it is today.

0:01:14.560 --> 0:01:17.160
<v Speaker 3>Yes, you're absolutely right. It is also important to point

0:01:17.200 --> 0:01:19.640
<v Speaker 3>out that May tends to be a down month, and

0:01:19.680 --> 0:01:21.720
<v Speaker 3>so that's just what happens in the industry, whether you're

0:01:21.720 --> 0:01:24.520
<v Speaker 3>a Sephora, whether you're Alta, and so some analysts did

0:01:24.560 --> 0:01:26.640
<v Speaker 3>also point out to that that people are expecting it

0:01:26.680 --> 0:01:28.800
<v Speaker 3>to be slightly lower at least for this month.

0:01:28.880 --> 0:01:30.440
<v Speaker 4>All right, you know what it is is these companies

0:01:30.480 --> 0:01:32.759
<v Speaker 4>have such high bars that they must now you know,

0:01:33.000 --> 0:01:35.960
<v Speaker 4>jump over that is getting harder and harder to sort

0:01:35.959 --> 0:01:39.120
<v Speaker 4>of beat on the high end of the of the estimates.

0:01:39.120 --> 0:01:42.720
<v Speaker 4>All right, let's move on to Game Stop a winner

0:01:42.760 --> 0:01:44.319
<v Speaker 4>today and a huge buyback.

0:01:44.760 --> 0:01:48.440
<v Speaker 3>Yes, that's ticker GME talking about something that is slightly

0:01:48.480 --> 0:01:52.240
<v Speaker 3>MEMI currently rising about nearly seven percent now most inter

0:01:52.360 --> 0:01:54.360
<v Speaker 3>day in a month, and that's aten a video game

0:01:54.400 --> 0:01:59.000
<v Speaker 3>retailer reported its highest profit ever selling more collectible items,

0:01:59.040 --> 0:02:02.800
<v Speaker 3>and also mention that Pokemon cards those action figures are

0:02:02.800 --> 0:02:05.240
<v Speaker 3>actually playing a slightly bigger role than the video games

0:02:05.280 --> 0:02:07.960
<v Speaker 3>now since people are kind of going more towards online

0:02:08.080 --> 0:02:10.320
<v Speaker 3>to buy those things. And also, as you mentioned, the

0:02:10.320 --> 0:02:13.800
<v Speaker 3>board did okay a two billion dollar buy back? Wow?

0:02:14.280 --> 0:02:16.800
<v Speaker 4>Talking about confidence in your own stock? I yes, But

0:02:16.960 --> 0:02:19.320
<v Speaker 4>are game stop stores still around? There used to be

0:02:19.320 --> 0:02:21.920
<v Speaker 4>one not too far from me. They closed up, So

0:02:21.960 --> 0:02:24.440
<v Speaker 4>are they moving more towards digital?

0:02:24.800 --> 0:02:26.840
<v Speaker 3>They still have a couple of stores. I actually one

0:02:26.880 --> 0:02:29.680
<v Speaker 3>of my coworkers he just bought like a Pokemon thing.

0:02:29.880 --> 0:02:33.720
<v Speaker 1>Really, I feel like GameStop just never leaves the headlines,

0:02:33.800 --> 0:02:37.720
<v Speaker 1>like it just I guess it's what's meme stage?

0:02:37.720 --> 0:02:39.760
<v Speaker 4>Because remember when this was, you know, sort of almost

0:02:39.800 --> 0:02:41.200
<v Speaker 4>the poster trial for meme stock.

0:02:41.080 --> 0:02:42.840
<v Speaker 1>Me me as as you said, I love that.

0:02:42.919 --> 0:02:45.600
<v Speaker 3>Yeah, I mean it also tried to buy eBay, So yes,

0:02:45.680 --> 0:02:47.560
<v Speaker 3>I feel like it still has to be kind of

0:02:47.600 --> 0:02:49.799
<v Speaker 3>in the meme sphere when you're trying to buy such

0:02:49.800 --> 0:02:51.400
<v Speaker 3>a big company.

0:02:51.480 --> 0:02:54.200
<v Speaker 1>I know. I mean they're climbing really a lot higher today,

0:02:54.240 --> 0:02:58.040
<v Speaker 1>So I'm grateful you talked about that stock. What about Medtronic,

0:02:58.200 --> 0:03:00.360
<v Speaker 1>I think that's a medical devices maker.

0:03:00.600 --> 0:03:04.000
<v Speaker 3>Yes, that's ticker MDT, currently gaining about five point five percent,

0:03:04.080 --> 0:03:05.400
<v Speaker 3>one of the top gainers on the S and P

0:03:05.520 --> 0:03:09.200
<v Speaker 3>five hundred today and up most inter day since last November.

0:03:09.320 --> 0:03:11.960
<v Speaker 3>That's after the medical device is maker reported revenue for

0:03:12.000 --> 0:03:15.280
<v Speaker 3>the fourth quarter. That's past expectations. There's a lot of

0:03:15.280 --> 0:03:18.160
<v Speaker 3>really great notes out Needum writing that those new products

0:03:18.160 --> 0:03:21.400
<v Speaker 3>that they had this past quarter really drove metronics strongest

0:03:21.480 --> 0:03:23.239
<v Speaker 3>organic growth in a decade.

0:03:24.320 --> 0:03:26.119
<v Speaker 4>All right, well, you know, I just want to get

0:03:26.120 --> 0:03:29.680
<v Speaker 4>back to GameStop for a minute, because do they I'm

0:03:29.720 --> 0:03:31.640
<v Speaker 4>just looking this up right now. Do they sell those

0:03:31.720 --> 0:03:34.760
<v Speaker 4>Magic Gathering Magic the Gathering cards.

0:03:34.920 --> 0:03:36.200
<v Speaker 1>That's a huge I don't know.

0:03:36.680 --> 0:03:39.000
<v Speaker 4>Magic the Gathering cards. That's a huge thing too. And

0:03:39.040 --> 0:03:40.840
<v Speaker 4>I have to think that that's also adding to this

0:03:41.160 --> 0:03:45.000
<v Speaker 4>Pokemon which seems to be a resurgence for Pokemon.

0:03:45.520 --> 0:03:48.400
<v Speaker 3>Yes, yes, I would say anything retro at this point

0:03:48.520 --> 0:03:50.520
<v Speaker 3>very much something that people are going for.

0:03:51.080 --> 0:03:55.120
<v Speaker 1>I grew up playing with Pokemons, even watching it or

0:03:55.160 --> 0:03:57.680
<v Speaker 1>having the cards. My favorite was jigle Puff because she's

0:03:57.880 --> 0:04:00.360
<v Speaker 1>pink and that is my favorite color. And I'm memris.

0:04:00.360 --> 0:04:02.480
<v Speaker 1>All one hundred and fifty plus characters so I thought

0:04:02.520 --> 0:04:04.640
<v Speaker 1>that was behind me. But then my brothers now it's

0:04:04.680 --> 0:04:06.680
<v Speaker 1>all one hundred and fifty characters. I think so. But

0:04:06.720 --> 0:04:10.440
<v Speaker 1>then my brother now loves Pokemon again, and he's going

0:04:10.640 --> 0:04:13.000
<v Speaker 1>to our attic and getting the old cards and he

0:04:13.040 --> 0:04:14.440
<v Speaker 1>said that they're valuable.

0:04:14.080 --> 0:04:16.719
<v Speaker 4>Right, they are valuable, aren't they They are They're going.

0:04:16.720 --> 0:04:18.240
<v Speaker 4>They're going for a lot of money, I guess on

0:04:18.240 --> 0:04:20.880
<v Speaker 4>on eBay. And you know, you have to wonder when

0:04:20.880 --> 0:04:25.159
<v Speaker 4>game Stop CEO talked about wanting to buy eBay, a

0:04:25.240 --> 0:04:28.799
<v Speaker 4>much larger company than GameStop in terms of market cap,

0:04:28.880 --> 0:04:31.279
<v Speaker 4>sort of came out of nowhere. But did it do

0:04:31.360 --> 0:04:34.840
<v Speaker 4>what he intended, which is get game Stop back into

0:04:34.839 --> 0:04:35.560
<v Speaker 4>the zeitgeist?

0:04:36.000 --> 0:04:38.560
<v Speaker 3>I mean Twitter would say yeaes sir sorry, formerly known

0:04:38.560 --> 0:04:39.240
<v Speaker 3>as Twitter.

0:04:39.080 --> 0:04:39.840
<v Speaker 1>X would say yes.

0:04:41.120 --> 0:04:45.120
<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

0:04:45.200 --> 0:04:47.800
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:47.880 --> 0:04:50.960
<v Speaker 2>making news on Wall Street and for the latest market

0:04:51.000 --> 0:04:55.480
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:55.560 --> 0:04:59.039
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:59.120 --> 0:05:05.279
<v Speaker 2>the Bloomberg Busines in this app. MHM