1
00:00:02,520 --> 00:00:08,720
Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.

2
00:00:08,720 --> 00:00:12,560
Speaker 2: Stock Movers Report, your roundup of companies making moves in

3
00:00:12,600 --> 00:00:15,880
Speaker 2: the stock market, harnessing the power of Bloomberg Data.

4
00:00:17,000 --> 00:00:18,319
Speaker 3: Let's take a look at some of the stocks on

5
00:00:18,320 --> 00:00:21,160
Speaker 3: the move today. Paul Sween alongside Scarlet fuh and we're

6
00:00:21,200 --> 00:00:24,119
Speaker 3: joined by Bloomberg's Bailly Lipstaltz Billy. What are looking on?

7
00:00:24,400 --> 00:00:27,840
Speaker 3: Let's start with Eli Lilly, the drugmaker, down about one percent,

8
00:00:27,960 --> 00:00:30,360
Speaker 3: so modestly underperforming the S and P five hundred and

9
00:00:30,400 --> 00:00:33,280
Speaker 3: though not one of the worst performers. This comes after

10
00:00:33,360 --> 00:00:36,400
Speaker 3: news that the company halted a study of an experimental

11
00:00:36,479 --> 00:00:40,360
Speaker 3: drug that would be done in combination with one of

12
00:00:40,360 --> 00:00:43,199
Speaker 3: its weight loss drugs to help prevent obese patients from

13
00:00:43,240 --> 00:00:45,520
Speaker 3: losing too much muscle. This has been a long debate

14
00:00:45,840 --> 00:00:48,680
Speaker 3: for these companies, Eli Lilly, Novo Nordisk leading the charge

15
00:00:48,680 --> 00:00:52,080
Speaker 3: there with patients who are going on zep bound Munjaro

16
00:00:52,720 --> 00:00:55,680
Speaker 3: oro zepic and are actually eating less and consuming less,

17
00:00:55,720 --> 00:00:58,720
Speaker 3: but therefore losing not only fat but muscle and other weight.

18
00:00:58,920 --> 00:01:01,880
Speaker 3: So this coming a bit surprising court to some analyst

19
00:01:02,120 --> 00:01:04,200
Speaker 3: that the company would hold its trial, though it's spokesperson

20
00:01:04,240 --> 00:01:07,520
Speaker 3: pointed to the fact that they re evaluate these drugs

21
00:01:07,560 --> 00:01:11,000
Speaker 3: trials on a regular basis. So ticker Lly down again

22
00:01:11,360 --> 00:01:14,280
Speaker 3: about one percent right now in the morning session. Not

23
00:01:14,319 --> 00:01:16,600
Speaker 3: a sharp move lower though really only trading at the

24
00:01:16,640 --> 00:01:17,880
Speaker 3: lowest level in a few weeks.

25
00:01:18,280 --> 00:01:21,679
Speaker 1: I'm also looking at the auto sector doing pretty badly

26
00:01:21,760 --> 00:01:24,119
Speaker 1: this morning, and of course within the SMP five hundred,

27
00:01:24,160 --> 00:01:27,000
Speaker 1: you're really talking about for a testline General Motors, but

28
00:01:27,160 --> 00:01:31,480
Speaker 1: you've got a car or auto adjacent company that's given

29
00:01:31,520 --> 00:01:32,760
Speaker 1: some disappointing results. Yeah.

30
00:01:32,840 --> 00:01:34,720
Speaker 3: Worst performer in the S and P five hundred this

31
00:01:34,840 --> 00:01:39,039
Speaker 3: morning by a large margin is CarMax ticker KMX Scarlett.

32
00:01:39,040 --> 00:01:42,960
Speaker 3: This is coming after earnings that significantly missed analyst estimates,

33
00:01:43,000 --> 00:01:46,680
Speaker 3: truest describing it as quote miss across the board with

34
00:01:46,880 --> 00:01:50,080
Speaker 3: nothing good to see here, which is brutal From the

35
00:01:50,080 --> 00:01:52,560
Speaker 3: cell side. You're supposed to be playing in curring favor

36
00:01:52,640 --> 00:01:56,480
Speaker 3: unless to the companies, unless you're hold rated. Though Scott

37
00:01:56,480 --> 00:02:00,080
Speaker 3: Siccarelli maybe reevaluate that price target of seventy four bucks.

38
00:02:00,080 --> 00:02:02,960
Speaker 3: The stock is below forty four trading Scarlet and Paul

39
00:02:03,000 --> 00:02:06,480
Speaker 3: at the lowest level since the pandemic March twenty twenty,

40
00:02:06,640 --> 00:02:09,160
Speaker 3: so CarMax under pressure. We're keeping an eye on AutoNation,

41
00:02:10,040 --> 00:02:12,800
Speaker 3: Carvon and pretty much anything in the ecosystem. Again, after

42
00:02:13,000 --> 00:02:16,000
Speaker 3: not only did total used units come in well below estimates,

43
00:02:16,520 --> 00:02:19,160
Speaker 3: analysts really saying that those weaker trends have continued so

44
00:02:19,320 --> 00:02:22,520
Speaker 3: far into this current quarter. So does seem pretty dire

45
00:02:22,560 --> 00:02:23,120
Speaker 3: out there.

46
00:02:23,000 --> 00:02:25,959
Speaker 1: You know, speaking of things being dire, Robert Bosch over

47
00:02:26,080 --> 00:02:28,760
Speaker 1: in Germany cutting about thirteen thousand additional jobs at it's

48
00:02:28,760 --> 00:02:31,640
Speaker 1: autoparts business because you've got to slug yourh European car

49
00:02:31,680 --> 00:02:34,160
Speaker 1: market as well. So not good across the world.

50
00:02:34,200 --> 00:02:36,200
Speaker 3: But hey, the markets are trading near all time highs,

51
00:02:36,200 --> 00:02:38,680
Speaker 3: so it's all totally fine. Just ignore the consumer and

52
00:02:38,720 --> 00:02:41,880
Speaker 3: want to wrap up with Jabel ticker JBL, the second

53
00:02:41,880 --> 00:02:45,600
Speaker 3: worst performer, only down seven percent to Carmax's twenty four percent,

54
00:02:45,840 --> 00:02:48,200
Speaker 3: though that is the worst drop for that company since

55
00:02:48,240 --> 00:02:50,880
Speaker 3: the summer. Jabel is a company in the supply chain

56
00:02:51,480 --> 00:02:55,440
Speaker 3: ecosystem within tech, so some of their big clients are Amazon, Apple, Tesla,

57
00:02:55,520 --> 00:02:58,360
Speaker 3: you name it. So they reported results that mostly missed

58
00:02:58,360 --> 00:03:02,880
Speaker 3: analyst expectations vital Knowledge calling out pressure on margins in

59
00:03:02,919 --> 00:03:05,760
Speaker 3: their AI segments, so certainly something to keep an eye on,

60
00:03:05,919 --> 00:03:08,600
Speaker 3: but probably speaking when you look at their forecaster first

61
00:03:08,680 --> 00:03:12,240
Speaker 3: quarter net revenue better than expected, as was core EPs,

62
00:03:12,240 --> 00:03:14,000
Speaker 3: so this could be just one of those moves for

63
00:03:14,040 --> 00:03:17,120
Speaker 3: a company that's moved pretty sharp to the upside in

64
00:03:17,160 --> 00:03:19,680
Speaker 3: the last little bit. Right now, trade around two hundred

65
00:03:19,680 --> 00:03:22,360
Speaker 3: and nine bucks a share a year ago was close

66
00:03:22,440 --> 00:03:25,000
Speaker 3: to do one hundred and thirteen dollars, so giving back

67
00:03:25,040 --> 00:03:28,320
Speaker 3: some of those games, but still a pretty ugly performance

68
00:03:28,360 --> 00:03:30,760
Speaker 3: on a one day kind of basis for Jable again

69
00:03:30,840 --> 00:03:31,600
Speaker 3: ticker JBL.

70
00:03:32,720 --> 00:03:36,760
Speaker 2: This stock movers report from Bloomberg Radio. Check back with

71
00:03:36,840 --> 00:03:39,440
Speaker 2: us throughout the day for the latest roundup of companies

72
00:03:39,480 --> 00:03:42,600
Speaker 2: making news on Wall Street and for the latest market

73
00:03:42,640 --> 00:03:47,080
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

74
00:03:47,200 --> 00:03:50,680
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with

75
00:03:50,760 --> 00:03:52,240
Speaker 2: the Bloomberg Business app.