WEBVTT - Target Falls, Cava Rises, Hasbro Slides

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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 1>I'm Jim Stanovec along with Emily Graffeo. Let's take a

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<v Speaker 1>look at some stocks on the move today. We are

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<v Speaker 1>joined by Bloomberg News cross asset reporter Tanitsa Soakova.

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<v Speaker 2>Hi.

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<v Speaker 3>There one stock that is not having a great day

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<v Speaker 3>to day's target. It actually had a pretty strong earnings report,

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<v Speaker 3>but it was about the earnings call. The company shoued

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<v Speaker 3>more concious tone about the coming months, and investors are

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<v Speaker 3>having a pretty bad reaction. After earnings report came to

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<v Speaker 3>stock actually rose, but now the stock is down more

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<v Speaker 3>than six percent. The ticker, of course is t GT.

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<v Speaker 3>We looked at the report, comparable sales jumped five part

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<v Speaker 3>six percent, biggest increase since the end of twenty twenty one.

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<v Speaker 3>We look at the annual revenue guidance that was up

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<v Speaker 3>by two percentage points. So the earning supports was really

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<v Speaker 3>really strong. But what happened on the earning scores is

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<v Speaker 3>that the company weren't about different comparisons in the current quarter.

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<v Speaker 3>More challenges ahead and that the benefits of the tax

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<v Speaker 3>refunds are fading, so kind of a triple threat. Just

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<v Speaker 3>as investors were excited, the company is up still more

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<v Speaker 3>than twenty percent. This is a very competitive space. We're

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<v Speaker 3>seeing the pressure of consumers. We've seen all those inflation concerns,

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<v Speaker 3>and of course we have Walmart and Costco taking some

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<v Speaker 3>of that share and really expanding their online shopping. So

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<v Speaker 3>it's very competitive, and you know, you can see investors

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<v Speaker 3>are punishing it just because of the earnings.

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<v Speaker 1>Yeah, Target TGT the stock up twenty two percent this year. Yeah,

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<v Speaker 1>getting a little punished today. It has just been beaten

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<v Speaker 1>up though over the last years. I mean, if you

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<v Speaker 1>think of those post COVID highs back in June of

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<v Speaker 1>twenty twenty one, it's still down forty three percent exactly.

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<v Speaker 3>Yeah, the COVID story was their big boom, and they

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<v Speaker 3>kind of never went back to that place. But this

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<v Speaker 3>year was a good example. They were doing quite well

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<v Speaker 3>until today.

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<v Speaker 1>So maybe the new CEOs still has some runway.

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<v Speaker 3>Yes, yeah, there's some good science.

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<v Speaker 4>Okay. Another stock that was hot during the pandemic and

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<v Speaker 4>actually is still hot today, Tania Kava, one of our

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<v Speaker 4>favorite slop bowls.

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<v Speaker 3>It's a great slow bowl And what came in the

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<v Speaker 3>earning support is that they're affordable. So ball I actually

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<v Speaker 3>found that pretty instinct. They say their chicken and falaffo

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<v Speaker 3>bowls are less than twelve percent on average across the US.

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<v Speaker 3>So I'll take that to you if you think less

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<v Speaker 3>than how much less than twelve.

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<v Speaker 1>Doors on that outside of New York City, US. So,

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<v Speaker 1>I don't know.

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<v Speaker 3>I don't know if it's a far about, but the

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<v Speaker 3>stock is of about four percent and a nearly forty

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<v Speaker 3>percent here today. It came off the company raising its

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<v Speaker 3>annual sales outlook, it's clearly people love it. You know

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<v Speaker 3>what they really like their sites. They have those limited

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<v Speaker 3>time sites. They have white sweet potatoes, sour cream, onion,

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<v Speaker 3>pia chips and stuff like that, which the CEO says

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<v Speaker 3>apparently is really helping. I guess it really adds up.

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<v Speaker 3>Even if your average meal is not as expensive with

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<v Speaker 3>some other change, when you have the sites, it probably

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<v Speaker 3>comes to a pretty hefty price and consumers are happy

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<v Speaker 3>they're getting something limited.

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<v Speaker 1>This was also a company that you know, in the

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<v Speaker 1>last few years is down from recent highs like January thirtieth,

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<v Speaker 1>twenty or no, I should say December of twenty twenty four. Yes,

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<v Speaker 1>the stock was at what one hundred and fifty oh

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<v Speaker 1>yeah dollars a share, now down to eighty one dollars

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<v Speaker 1>a share, So yes, again having you know, a good

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<v Speaker 1>few months, but a far cry from what it was

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<v Speaker 1>when everybody's like, wow, is Cobba overvalued?

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<v Speaker 3>Yeah, it's been a really tough time for all those changes.

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<v Speaker 3>We've been talking about Sweet Green, We've been talking about

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<v Speaker 3>all those bull that was kind of abundant during the

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<v Speaker 3>pandemic past pandemic, and there was such a boom and

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<v Speaker 3>now definitely investors are judging it a lot more rigorously,

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<v Speaker 3>but nevertheless pretty strongly for Cava.

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<v Speaker 4>All right, And so in the last minute here danitza

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<v Speaker 4>one more company, a toy company.

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<v Speaker 3>Yes, Hasbro is down more than seven percent on Wednesday.

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<v Speaker 3>The company maintained a sales forecast for the year that

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<v Speaker 3>was on the low end that pretty much disappointed analyst.

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<v Speaker 3>What we're seeing is like they're attracting a lot of

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<v Speaker 3>older consumers and adults with their board games, card games,

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<v Speaker 3>like one popular game is Magic the Gathering. So they've

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<v Speaker 3>been tracking this for some time. It's been a successful strategy.

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<v Speaker 1>You know why it's attracting adults because when I was

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<v Speaker 1>in fourth grade, people played Magic the Gathering, And now

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<v Speaker 1>those fourth graders are in their forties, forties, and now

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<v Speaker 1>they're buying.

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<v Speaker 3>I was going to ask, I feel, so you played

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<v Speaker 3>that game.

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<v Speaker 1>Yeah, I don't remember like how to play it, but

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<v Speaker 1>it's just shocking to me that this is still you know,

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<v Speaker 1>a thing, So for sure, for.

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<v Speaker 2>Sure, this stock Movers report from Bloomberg Radio. Check back

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