Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today. Paul Sween alongside Scarlet fuh and we're
Speaker 3: joined by Bloomberg's Bailly Lipstaltz Billy. What are looking on?
Speaker 3: Let's start with Eli Lilly, the drugmaker, down about one percent,
Speaker 3: so modestly underperforming the S and P five hundred and
Speaker 3: though not one of the worst performers. This comes after
Speaker 3: news that the company halted a study of an experimental
Speaker 3: drug that would be done in combination with one of
Speaker 3: its weight loss drugs to help prevent obese patients from
Speaker 3: losing too much muscle. This has been a long debate
Speaker 3: for these companies, Eli Lilly, Novo Nordisk leading the charge
Speaker 3: there with patients who are going on zep bound Munjaro
Speaker 3: oro zepic and are actually eating less and consuming less,
Speaker 3: but therefore losing not only fat but muscle and other weight.
Speaker 3: So this coming a bit surprising court to some analyst
Speaker 3: that the company would hold its trial, though it's spokesperson
Speaker 3: pointed to the fact that they re evaluate these drugs
Speaker 3: trials on a regular basis. So ticker Lly down again
Speaker 3: about one percent right now in the morning session. Not
Speaker 3: a sharp move lower though really only trading at the
Speaker 3: lowest level in a few weeks.
Speaker 1: I'm also looking at the auto sector doing pretty badly
Speaker 1: this morning, and of course within the SMP five hundred,
Speaker 1: you're really talking about for a testline General Motors, but
Speaker 1: you've got a car or auto adjacent company that's given
Speaker 1: some disappointing results. Yeah.
Speaker 3: Worst performer in the S and P five hundred this
Speaker 3: morning by a large margin is CarMax ticker KMX Scarlett.
Speaker 3: This is coming after earnings that significantly missed analyst estimates,
Speaker 3: truest describing it as quote miss across the board with
Speaker 3: nothing good to see here, which is brutal From the
Speaker 3: cell side. You're supposed to be playing in curring favor
Speaker 3: unless to the companies, unless you're hold rated. Though Scott
Speaker 3: Siccarelli maybe reevaluate that price target of seventy four bucks.
Speaker 3: The stock is below forty four trading Scarlet and Paul
Speaker 3: at the lowest level since the pandemic March twenty twenty,
Speaker 3: so CarMax under pressure. We're keeping an eye on AutoNation,
Speaker 3: Carvon and pretty much anything in the ecosystem. Again, after
Speaker 3: not only did total used units come in well below estimates,
Speaker 3: analysts really saying that those weaker trends have continued so
Speaker 3: far into this current quarter. So does seem pretty dire
Speaker 3: out there.
Speaker 1: You know, speaking of things being dire, Robert Bosch over
Speaker 1: in Germany cutting about thirteen thousand additional jobs at it's
Speaker 1: autoparts business because you've got to slug yourh European car
Speaker 1: market as well. So not good across the world.
Speaker 3: But hey, the markets are trading near all time highs,
Speaker 3: so it's all totally fine. Just ignore the consumer and
Speaker 3: want to wrap up with Jabel ticker JBL, the second
Speaker 3: worst performer, only down seven percent to Carmax's twenty four percent,
Speaker 3: though that is the worst drop for that company since
Speaker 3: the summer. Jabel is a company in the supply chain
Speaker 3: ecosystem within tech, so some of their big clients are Amazon, Apple, Tesla,
Speaker 3: you name it. So they reported results that mostly missed
Speaker 3: analyst expectations vital Knowledge calling out pressure on margins in
Speaker 3: their AI segments, so certainly something to keep an eye on,
Speaker 3: but probably speaking when you look at their forecaster first
Speaker 3: quarter net revenue better than expected, as was core EPs,
Speaker 3: so this could be just one of those moves for
Speaker 3: a company that's moved pretty sharp to the upside in
Speaker 3: the last little bit. Right now, trade around two hundred
Speaker 3: and nine bucks a share a year ago was close
Speaker 3: to do one hundred and thirteen dollars, so giving back
Speaker 3: some of those games, but still a pretty ugly performance
Speaker 3: on a one day kind of basis for Jable again
Speaker 3: ticker JBL.
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