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: I'm Jim Stanovec along with Emily Graffeo. Let's take a
Speaker 1: look at some stocks on the move today. We are
Speaker 1: joined by Bloomberg News cross asset reporter Tanitsa Soakova.
Speaker 2: Hi.
Speaker 3: There one stock that is not having a great day
Speaker 3: to day's target. It actually had a pretty strong earnings report,
Speaker 3: but it was about the earnings call. The company shoued
Speaker 3: more concious tone about the coming months, and investors are
Speaker 3: having a pretty bad reaction. After earnings report came to
Speaker 3: stock actually rose, but now the stock is down more
Speaker 3: than six percent. The ticker, of course is t GT.
Speaker 3: We looked at the report, comparable sales jumped five part
Speaker 3: six percent, biggest increase since the end of twenty twenty one.
Speaker 3: We look at the annual revenue guidance that was up
Speaker 3: by two percentage points. So the earning supports was really
Speaker 3: really strong. But what happened on the earning scores is
Speaker 3: that the company weren't about different comparisons in the current quarter.
Speaker 3: More challenges ahead and that the benefits of the tax
Speaker 3: refunds are fading, so kind of a triple threat. Just
Speaker 3: as investors were excited, the company is up still more
Speaker 3: than twenty percent. This is a very competitive space. We're
Speaker 3: seeing the pressure of consumers. We've seen all those inflation concerns,
Speaker 3: and of course we have Walmart and Costco taking some
Speaker 3: of that share and really expanding their online shopping. So
Speaker 3: it's very competitive, and you know, you can see investors
Speaker 3: are punishing it just because of the earnings.
Speaker 1: Yeah, Target TGT the stock up twenty two percent this year. Yeah,
Speaker 1: getting a little punished today. It has just been beaten
Speaker 1: up though over the last years. I mean, if you
Speaker 1: think of those post COVID highs back in June of
Speaker 1: twenty twenty one, it's still down forty three percent exactly.
Speaker 3: Yeah, the COVID story was their big boom, and they
Speaker 3: kind of never went back to that place. But this
Speaker 3: year was a good example. They were doing quite well
Speaker 3: until today.
Speaker 1: So maybe the new CEOs still has some runway.
Speaker 3: Yes, yeah, there's some good science.
Speaker 4: Okay. Another stock that was hot during the pandemic and
Speaker 4: actually is still hot today, Tania Kava, one of our
Speaker 4: favorite slop bowls.
Speaker 3: It's a great slow bowl And what came in the
Speaker 3: earning support is that they're affordable. So ball I actually
Speaker 3: found that pretty instinct. They say their chicken and falaffo
Speaker 3: bowls are less than twelve percent on average across the US.
Speaker 3: So I'll take that to you if you think less
Speaker 3: than how much less than twelve.
Speaker 1: Doors on that outside of New York City, US. So,
Speaker 1: I don't know.
Speaker 3: I don't know if it's a far about, but the
Speaker 3: stock is of about four percent and a nearly forty
Speaker 3: percent here today. It came off the company raising its
Speaker 3: annual sales outlook, it's clearly people love it. You know
Speaker 3: what they really like their sites. They have those limited
Speaker 3: time sites. They have white sweet potatoes, sour cream, onion,
Speaker 3: pia chips and stuff like that, which the CEO says
Speaker 3: apparently is really helping. I guess it really adds up.
Speaker 3: Even if your average meal is not as expensive with
Speaker 3: some other change, when you have the sites, it probably
Speaker 3: comes to a pretty hefty price and consumers are happy
Speaker 3: they're getting something limited.
Speaker 1: This was also a company that you know, in the
Speaker 1: last few years is down from recent highs like January thirtieth,
Speaker 1: twenty or no, I should say December of twenty twenty four. Yes,
Speaker 1: the stock was at what one hundred and fifty oh
Speaker 1: yeah dollars a share, now down to eighty one dollars
Speaker 1: a share, So yes, again having you know, a good
Speaker 1: few months, but a far cry from what it was
Speaker 1: when everybody's like, wow, is Cobba overvalued?
Speaker 3: Yeah, it's been a really tough time for all those changes.
Speaker 3: We've been talking about Sweet Green, We've been talking about
Speaker 3: all those bull that was kind of abundant during the
Speaker 3: pandemic past pandemic, and there was such a boom and
Speaker 3: now definitely investors are judging it a lot more rigorously,
Speaker 3: but nevertheless pretty strongly for Cava.
Speaker 4: All right, And so in the last minute here danitza
Speaker 4: one more company, a toy company.
Speaker 3: Yes, Hasbro is down more than seven percent on Wednesday.
Speaker 3: The company maintained a sales forecast for the year that
Speaker 3: was on the low end that pretty much disappointed analyst.
Speaker 3: What we're seeing is like they're attracting a lot of
Speaker 3: older consumers and adults with their board games, card games,
Speaker 3: like one popular game is Magic the Gathering. So they've
Speaker 3: been tracking this for some time. It's been a successful strategy.
Speaker 1: You know why it's attracting adults because when I was
Speaker 1: in fourth grade, people played Magic the Gathering, And now
Speaker 1: those fourth graders are in their forties, forties, and now
Speaker 1: they're buying.
Speaker 3: I was going to ask, I feel, so you played
Speaker 3: that game.
Speaker 1: Yeah, I don't remember like how to play it, but
Speaker 1: it's just shocking to me that this is still you know,
Speaker 1: a thing, So for sure, for.
Speaker 2: Sure, this stock Movers report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
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