Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some of the stocks on
Speaker 1: the move today again. I'm Isabell Lee with Alexis. Christopher
Speaker 1: is sitting in for Carol Masser and Tim Stenevik, and
Speaker 1: we are joined by Bloomberg News Equities reporter Avalon Parnell.
Speaker 1: So thank you for joining us here in the studio. Avalon,
Speaker 1: what are you looking at?
Speaker 3: I think Alta, Yes, Alta Beauty that's ticker Alta currently
Speaker 3: down about five point three percent most intra day since March,
Speaker 3: and that's after the beauty retailer's outlook implied a slightly
Speaker 3: weaker than expected second half of the year. Jeffrey's writing
Speaker 3: that the conservative setup could leave room for upside as
Speaker 3: management remains cautious, especially as the war and Iran continues.
Speaker 1: You know, Alexis, I don't know if I should admit this,
Speaker 1: but I've never been to an Alta. Yeah, kind, I
Speaker 1: just always today towards Sephora.
Speaker 4: We I don't know, well, you know, Sophora is right
Speaker 4: across from most of your investry in Midtown, but there
Speaker 4: are quite a few Altars a lot, yes, and that
Speaker 4: both stores have a different vibe, I must say. But
Speaker 4: I have to say, though avalon Altas report, I mean,
Speaker 4: all the fundamentals that you want to see were there.
Speaker 4: So I'm a little surprised the stock is selling off
Speaker 4: the way that it is today.
Speaker 3: Yes, you're absolutely right. It is also important to point
Speaker 3: out that May tends to be a down month, and
Speaker 3: so that's just what happens in the industry, whether you're
Speaker 3: a Sephora, whether you're Alta, and so some analysts did
Speaker 3: also point out to that that people are expecting it
Speaker 3: to be slightly lower at least for this month.
Speaker 4: All right, you know what it is is these companies
Speaker 4: have such high bars that they must now you know,
Speaker 4: jump over that is getting harder and harder to sort
Speaker 4: of beat on the high end of the of the estimates.
Speaker 4: All right, let's move on to Game Stop a winner
Speaker 4: today and a huge buyback.
Speaker 3: Yes, that's ticker GME talking about something that is slightly
Speaker 3: MEMI currently rising about nearly seven percent now most inter
Speaker 3: day in a month, and that's aten a video game
Speaker 3: retailer reported its highest profit ever selling more collectible items,
Speaker 3: and also mention that Pokemon cards those action figures are
Speaker 3: actually playing a slightly bigger role than the video games
Speaker 3: now since people are kind of going more towards online
Speaker 3: to buy those things. And also, as you mentioned, the
Speaker 3: board did okay a two billion dollar buy back? Wow?
Speaker 4: Talking about confidence in your own stock? I yes, But
Speaker 4: are game stop stores still around? There used to be
Speaker 4: one not too far from me. They closed up, So
Speaker 4: are they moving more towards digital?
Speaker 3: They still have a couple of stores. I actually one
Speaker 3: of my coworkers he just bought like a Pokemon thing.
Speaker 1: Really, I feel like GameStop just never leaves the headlines,
Speaker 1: like it just I guess it's what's meme stage?
Speaker 4: Because remember when this was, you know, sort of almost
Speaker 4: the poster trial for meme stock.
Speaker 1: Me me as as you said, I love that.
Speaker 3: Yeah, I mean it also tried to buy eBay, So yes,
Speaker 3: I feel like it still has to be kind of
Speaker 3: in the meme sphere when you're trying to buy such
Speaker 3: a big company.
Speaker 1: I know. I mean they're climbing really a lot higher today,
Speaker 1: So I'm grateful you talked about that stock. What about Medtronic,
Speaker 1: I think that's a medical devices maker.
Speaker 3: Yes, that's ticker MDT, currently gaining about five point five percent,
Speaker 3: one of the top gainers on the S and P
Speaker 3: five hundred today and up most inter day since last November.
Speaker 3: That's after the medical device is maker reported revenue for
Speaker 3: the fourth quarter. That's past expectations. There's a lot of
Speaker 3: really great notes out Needum writing that those new products
Speaker 3: that they had this past quarter really drove metronics strongest
Speaker 3: organic growth in a decade.
Speaker 4: All right, well, you know, I just want to get
Speaker 4: back to GameStop for a minute, because do they I'm
Speaker 4: just looking this up right now. Do they sell those
Speaker 4: Magic Gathering Magic the Gathering cards.
Speaker 1: That's a huge I don't know.
Speaker 4: Magic the Gathering cards. That's a huge thing too. And
Speaker 4: I have to think that that's also adding to this
Speaker 4: Pokemon which seems to be a resurgence for Pokemon.
Speaker 3: Yes, yes, I would say anything retro at this point
Speaker 3: very much something that people are going for.
Speaker 1: I grew up playing with Pokemons, even watching it or
Speaker 1: having the cards. My favorite was jigle Puff because she's
Speaker 1: pink and that is my favorite color. And I'm memris.
Speaker 1: All one hundred and fifty plus characters so I thought
Speaker 1: that was behind me. But then my brothers now it's
Speaker 1: all one hundred and fifty characters. I think so. But
Speaker 1: then my brother now loves Pokemon again, and he's going
Speaker 1: to our attic and getting the old cards and he
Speaker 1: said that they're valuable.
Speaker 4: Right, they are valuable, aren't they They are They're going.
Speaker 4: They're going for a lot of money, I guess on
Speaker 4: on eBay. And you know, you have to wonder when
Speaker 4: game Stop CEO talked about wanting to buy eBay, a
Speaker 4: much larger company than GameStop in terms of market cap,
Speaker 4: sort of came out of nowhere. But did it do
Speaker 4: what he intended, which is get game Stop back into
Speaker 4: the zeitgeist?
Speaker 3: I mean Twitter would say yeaes sir sorry, formerly known
Speaker 3: as Twitter.
Speaker 1: X would say yes.
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