WEBVTT - Eli Lilly Drops, CarMax Falls, Jabil Slides After Earnings

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today. Paul Sween alongside Scarlet fuh and we're

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<v Speaker 3>joined by Bloomberg's Bailly Lipstaltz Billy. What are looking on?

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<v Speaker 3>Let's start with Eli Lilly, the drugmaker, down about one percent,

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<v Speaker 3>so modestly underperforming the S and P five hundred and

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<v Speaker 3>though not one of the worst performers. This comes after

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<v Speaker 3>news that the company halted a study of an experimental

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<v Speaker 3>drug that would be done in combination with one of

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<v Speaker 3>its weight loss drugs to help prevent obese patients from

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<v Speaker 3>losing too much muscle. This has been a long debate

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<v Speaker 3>for these companies, Eli Lilly, Novo Nordisk leading the charge

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<v Speaker 3>there with patients who are going on zep bound Munjaro

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<v Speaker 3>oro zepic and are actually eating less and consuming less,

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<v Speaker 3>but therefore losing not only fat but muscle and other weight.

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<v Speaker 3>So this coming a bit surprising court to some analyst

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<v Speaker 3>that the company would hold its trial, though it's spokesperson

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<v Speaker 3>pointed to the fact that they re evaluate these drugs

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<v Speaker 3>trials on a regular basis. So ticker Lly down again

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<v Speaker 3>about one percent right now in the morning session. Not

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<v Speaker 3>a sharp move lower though really only trading at the

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<v Speaker 3>lowest level in a few weeks.

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<v Speaker 1>I'm also looking at the auto sector doing pretty badly

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<v Speaker 1>this morning, and of course within the SMP five hundred,

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<v Speaker 1>you're really talking about for a testline General Motors, but

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<v Speaker 1>you've got a car or auto adjacent company that's given

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<v Speaker 1>some disappointing results. Yeah.

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<v Speaker 3>Worst performer in the S and P five hundred this

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<v Speaker 3>morning by a large margin is CarMax ticker KMX Scarlett.

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<v Speaker 3>This is coming after earnings that significantly missed analyst estimates,

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<v Speaker 3>truest describing it as quote miss across the board with

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<v Speaker 3>nothing good to see here, which is brutal From the

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<v Speaker 3>cell side. You're supposed to be playing in curring favor

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<v Speaker 3>unless to the companies, unless you're hold rated. Though Scott

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<v Speaker 3>Siccarelli maybe reevaluate that price target of seventy four bucks.

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<v Speaker 3>The stock is below forty four trading Scarlet and Paul

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<v Speaker 3>at the lowest level since the pandemic March twenty twenty,

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<v Speaker 3>so CarMax under pressure. We're keeping an eye on AutoNation,

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<v Speaker 3>Carvon and pretty much anything in the ecosystem. Again, after

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<v Speaker 3>not only did total used units come in well below estimates,

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<v Speaker 3>analysts really saying that those weaker trends have continued so

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<v Speaker 3>far into this current quarter. So does seem pretty dire

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<v Speaker 3>out there.

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<v Speaker 1>You know, speaking of things being dire, Robert Bosch over

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<v Speaker 1>in Germany cutting about thirteen thousand additional jobs at it's

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<v Speaker 1>autoparts business because you've got to slug yourh European car

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<v Speaker 1>market as well. So not good across the world.

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<v Speaker 3>But hey, the markets are trading near all time highs,

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<v Speaker 3>so it's all totally fine. Just ignore the consumer and

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<v Speaker 3>want to wrap up with Jabel ticker JBL, the second

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<v Speaker 3>worst performer, only down seven percent to Carmax's twenty four percent,

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<v Speaker 3>though that is the worst drop for that company since

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<v Speaker 3>the summer. Jabel is a company in the supply chain

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<v Speaker 3>ecosystem within tech, so some of their big clients are Amazon, Apple, Tesla,

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<v Speaker 3>you name it. So they reported results that mostly missed

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<v Speaker 3>analyst expectations vital Knowledge calling out pressure on margins in

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<v Speaker 3>their AI segments, so certainly something to keep an eye on,

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<v Speaker 3>but probably speaking when you look at their forecaster first

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<v Speaker 3>quarter net revenue better than expected, as was core EPs,

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<v Speaker 3>so this could be just one of those moves for

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<v Speaker 3>a company that's moved pretty sharp to the upside in

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<v Speaker 3>the last little bit. Right now, trade around two hundred

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<v Speaker 3>and nine bucks a share a year ago was close

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<v Speaker 3>to do one hundred and thirteen dollars, so giving back

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<v Speaker 3>some of those games, but still a pretty ugly performance

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<v Speaker 3>on a one day kind of basis for Jable again

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<v Speaker 3>ticker JBL.

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