1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,680 Speaker 3: Let's take a look at what are some of the 5 00:00:18,720 --> 00:00:21,360 Speaker 3: stocks on the move today? On Paul Swenia alongside Scarlet Food. 6 00:00:21,160 --> 00:00:23,400 Speaker 1: Weren't joined by Bloomberg's Christina Kino. Christine, what are you 7 00:00:23,400 --> 00:00:26,599 Speaker 1: looking at today? I'm looking at Beer Paul, which is 8 00:00:26,640 --> 00:00:29,680 Speaker 1: a little early. I was just gonna say, but literally, 9 00:00:29,880 --> 00:00:33,120 Speaker 1: but we got somewhere exactly. We got to talk about 10 00:00:33,159 --> 00:00:37,959 Speaker 1: it though. It's Constellation Brands, the ticker STZ, and that 11 00:00:38,120 --> 00:00:41,440 Speaker 1: stock has just been extending, declined all morning. It's now 12 00:00:41,479 --> 00:00:44,120 Speaker 1: done more than two percent after starting to day a 13 00:00:44,200 --> 00:00:46,199 Speaker 1: little on the back foot, but it's a lot more 14 00:00:46,200 --> 00:00:49,720 Speaker 1: on the backfoot, and that's because it's a day after 15 00:00:50,240 --> 00:00:53,440 Speaker 1: they reported a cut to its fiscal guidance in twenty 16 00:00:53,520 --> 00:00:56,240 Speaker 1: twenty six. Because if we consumer demand, and of course 17 00:00:56,240 --> 00:00:59,080 Speaker 1: we have a number of banks and brokerages giving it 18 00:00:59,120 --> 00:01:01,760 Speaker 1: a downgrade price, Stargard was cut to one hundred and 19 00:01:01,760 --> 00:01:04,280 Speaker 1: fifty eight dollars from one hundred eighty two previously at 20 00:01:04,319 --> 00:01:08,520 Speaker 1: Deutsche Bank BNP Power but eggsay is cutting it to underperform, 21 00:01:08,959 --> 00:01:13,400 Speaker 1: and it's also getting price Stargard cuts two oh nine 22 00:01:13,720 --> 00:01:17,440 Speaker 1: from to thirty nine percy at another shop. So yeah, 23 00:01:17,480 --> 00:01:20,399 Speaker 1: a lot of price Stargard cuts for this stock now. 24 00:01:20,560 --> 00:01:26,040 Speaker 1: President and CEO Bill Newland's yesterday speaking about this poor 25 00:01:26,080 --> 00:01:29,000 Speaker 1: outlook and saying that it is primarily because of a 26 00:01:29,120 --> 00:01:32,360 Speaker 1: notable decline in purchases of high end beer among his 27 00:01:32,440 --> 00:01:35,040 Speaker 1: Panic consumers. So, as we know, Constellation Brands of course 28 00:01:35,040 --> 00:01:37,759 Speaker 1: owns Modello and Corona, so that's really hurt their business, 29 00:01:37,959 --> 00:01:38,679 Speaker 1: all right, So we're. 30 00:01:38,600 --> 00:01:41,080 Speaker 3: Keeping an eye on that one. Lulu Lemon will be 31 00:01:41,160 --> 00:01:44,880 Speaker 3: reporting earnings, I believe tomorrow after the market close, right, 32 00:01:45,160 --> 00:01:48,280 Speaker 3: But the company really is defining itself not in the 33 00:01:48,360 --> 00:01:51,280 Speaker 3: moment because leggings are only for boomers, according to a 34 00:01:51,320 --> 00:01:55,400 Speaker 3: recent Wall Street Turnable article. Everyone else wears loose pans. 35 00:01:55,440 --> 00:01:59,120 Speaker 1: We've moved on from leggings as a society. But yeah, 36 00:01:59,120 --> 00:02:02,040 Speaker 1: that's absolutely right, Garla, And so yeah, we'll get more 37 00:02:02,120 --> 00:02:05,760 Speaker 1: thoughts obviously from the company on their recent port performance. 38 00:02:05,760 --> 00:02:08,359 Speaker 1: But yeah, lou Lemon tacker l U l U shares 39 00:02:08,400 --> 00:02:11,680 Speaker 1: at the moment down one tenth of one percent, ahead 40 00:02:11,960 --> 00:02:14,000 Speaker 1: of those earnings of course, where we're just kind of 41 00:02:14,040 --> 00:02:17,000 Speaker 1: we got an interview with their chief marketing officer just 42 00:02:17,040 --> 00:02:19,760 Speaker 1: taught taking a look at their big marketing shift. So 43 00:02:19,840 --> 00:02:22,880 Speaker 1: really the strategy appears to be now emulating the success 44 00:02:22,919 --> 00:02:27,160 Speaker 1: of Nike, right, like trying to tap endorsements from sports stars. 45 00:02:27,160 --> 00:02:30,000 Speaker 1: So they've got American tennis star of course, Francis Tfo, 46 00:02:30,080 --> 00:02:33,440 Speaker 1: who wore lou Lemon apparel at the US Open. Well 47 00:02:33,480 --> 00:02:37,960 Speaker 1: you probably saw that they also signed a Formula One champion, 48 00:02:38,360 --> 00:02:41,720 Speaker 1: Lewis Hamilton, and this is because their stock has fallen 49 00:02:41,800 --> 00:02:44,160 Speaker 1: fifty percent this year, so they got to do something right. 50 00:02:44,520 --> 00:02:48,400 Speaker 1: And of course their CEO, Calvin McDonald's still targeting twelve 51 00:02:48,440 --> 00:02:50,720 Speaker 1: point five billion in sales by the end of twenty 52 00:02:50,760 --> 00:02:53,640 Speaker 1: twenty six, so that's a lofty goal and a lot 53 00:02:53,680 --> 00:02:56,800 Speaker 1: of analysts are predicting that they will fall five hundred 54 00:02:56,840 --> 00:02:59,200 Speaker 1: million dollars short of that goal, and so they're trying 55 00:02:59,240 --> 00:03:01,600 Speaker 1: to mix it up do something new. So we'll probably 56 00:03:01,680 --> 00:03:06,000 Speaker 1: hear more about that when they report and Tesla Tesla 57 00:03:06,120 --> 00:03:09,280 Speaker 1: to current Tsla of course, that's back in the news 58 00:03:09,280 --> 00:03:12,760 Speaker 1: after we heard of from co Elon Musk earlier in 59 00:03:12,840 --> 00:03:15,280 Speaker 1: the week talking about his new Grand Plan shares are 60 00:03:15,400 --> 00:03:18,400 Speaker 1: up three point eight percent this morning, and that comes 61 00:03:18,800 --> 00:03:22,600 Speaker 1: even after we got the latest data from its Europe sales. 62 00:03:22,639 --> 00:03:26,320 Speaker 1: So that's data from the Federal Motor Transport Authority saying 63 00:03:26,360 --> 00:03:30,120 Speaker 1: that it's sales slump across almost all of your's biggest 64 00:03:30,160 --> 00:03:35,080 Speaker 1: electric vehicle markets just continues. So apparently in Germany, new 65 00:03:35,120 --> 00:03:39,440 Speaker 1: Tesla vehicle registrations dropped thirty nine percent last month, plunge 66 00:03:39,480 --> 00:03:41,800 Speaker 1: fifty six percent through the first eight months of the year. 67 00:03:42,040 --> 00:03:47,400 Speaker 1: There's also seeing steep declines for August in France, Belgium, Denmark, Sweden. 68 00:03:47,440 --> 00:03:50,920 Speaker 1: A lot of big EV markets just really not going 69 00:03:50,920 --> 00:03:53,839 Speaker 1: for Tesla. The one exception, of course is Norway, where 70 00:03:53,880 --> 00:03:57,000 Speaker 1: it did rise. So very interesting though, because it seems 71 00:03:57,040 --> 00:04:00,160 Speaker 1: like investors are not focusing a lot. They're focusing on 72 00:04:00,560 --> 00:04:04,160 Speaker 1: comments from Elon Musk earlier this week saying that well, 73 00:04:04,240 --> 00:04:06,720 Speaker 1: essentially he was trying to take focus away from their 74 00:04:06,760 --> 00:04:07,640 Speaker 1: poor car sales. 75 00:04:08,600 --> 00:04:12,640 Speaker 2: The stock Moover's report from Bloomberg Radio. Check back with 76 00:04:12,720 --> 00:04:15,280 Speaker 2: us throughout the day for the latest roundup of companies 77 00:04:15,360 --> 00:04:18,480 Speaker 2: making news on Wall Street and for the latest market 78 00:04:18,480 --> 00:04:22,960 Speaker 2: moving headlines. Listen to Bloomberg Radio Live Catch us on YouTube, 79 00:04:23,040 --> 00:04:26,560 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 80 00:04:26,640 --> 00:04:28,119 Speaker 2: the Bloomberg Business app.