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: Let's bring in Lisa Matteo. Hi, Lisa, Hi, So good
Speaker 1: to see you in the office here in studio. Usually,
Speaker 1: of course she's on Bloomberg this weekend, so she's prepping
Speaker 1: madly for the.
Speaker 3: Upcoming shows for the show.
Speaker 1: Yes, but you are also doing us a favor and
Speaker 1: telling us about some stocks that are on the move
Speaker 1: this morning.
Speaker 3: Yeah, I'll start in the what's down first. We'll start
Speaker 3: on the downside, all right, So fast food sal chain
Speaker 3: Sweet Green. I love a good salad, but it's hard
Speaker 3: when you're under a cyclost or outbreak. And that's what
Speaker 3: their problem is right now. Their shares were down as
Speaker 3: much as thirteen percent, but they cut their annual outlook.
Speaker 3: They expect full year sales at their locations to fall
Speaker 3: as much as eight percent this year, and that's compared
Speaker 3: to a drop as much as four percent off for
Speaker 3: comparable sales. So decrease command, yes, because of the outbreak,
Speaker 3: but also the stock nearly twenty seven percent of its
Speaker 3: value after that surge of cases. They say their supply
Speaker 3: chain is not affected by the outbreak because restaurants don't
Speaker 3: serve iceberg lettuce, and that's what this is affecting, is
Speaker 3: the iceberg lettuce. But now there's another issue with jalapenos,
Speaker 3: So that's the issue. Remove the jalapenos from the supplier
Speaker 3: that was tied to a salmonella outbreak. So it's it's
Speaker 3: a tough go for them. Chipotle Codoba they also of
Speaker 3: course remove those peppers. But the bigger picture, I mean,
Speaker 3: the company was already dealing with the declining traffic. They
Speaker 3: were trying to do cheaper options. They were trying bigger
Speaker 3: portion sizes, limited time offers, you know, doing all the things.
Speaker 3: They even reduced the number of restaurant openings. But the
Speaker 3: CEO said, the results are just not where they need
Speaker 3: to be. What else are you looking at this morning, Lisa,
Speaker 3: I'll give you another downer. Sorry morning. You know it
Speaker 3: is under armor, okay, tick? Are you aa? Their shares
Speaker 3: were down as much as about seven percent, so basically,
Speaker 3: they forecast a sharper revenue decline than expected. They expect
Speaker 3: sales to fall by mid single digits digital rate per year.
Speaker 3: It was just softer man and key regions, particularly in
Speaker 3: North America. You had Asia Pacific as well, Europe, the
Speaker 3: Middle East. It's CEO is saying the company's dealing with
Speaker 3: just challenging consumer demand environment. That's what they're saying. They've
Speaker 3: been trying to kind of turn the business around after
Speaker 3: declines in sales continue to decline. They've been cutting down
Speaker 3: their product offering, reducing discounts, doing things like that. But
Speaker 3: what's also adding pressure to them is the impact of tariffs.
Speaker 3: We've been talking a lot about that. And the big
Speaker 3: thing too is that separation from NBA star Steph Curry.
Speaker 3: They had this twelve year partnership and now you know
Speaker 3: what he's going on to other things, and that was
Speaker 3: a big downturn for them.
Speaker 1: Absolutely, last talk on your list.
Speaker 3: Yeah, really quickly, Maple Bear doing business as instacarticker cart.
Speaker 3: Their shares jumped as much as eleven percent of the
Speaker 3: open That was the most since February, So this is
Speaker 3: on the upside. Shares were up as much as ten
Speaker 3: percent since then. Forecasts for third quarter gross transaction value
Speaker 3: beat estimates, and what analysts are saying, I'll just point
Speaker 3: to morgansty quickly. They said strengthen user growth. Spend per
Speaker 3: user is a notable indicator of a healthy and growing
Speaker 3: online grocery market. I don't use my instacar, but my
Speaker 3: sister loves it and she uses it all the time.
Speaker 2: I am a fan, you are. I am a fan.
Speaker 1: I am a fan of not paying extra fees, so.
Speaker 2: I don't use it too. Thank you. The Stock Movers
Speaker 2: Report from Bloomberg Radio. Check back with us throughout the
Speaker 2: day for the latest roundup of companies making news on
Speaker 2: Wall Street and for the latest market moving headlines. Listen
Speaker 2: to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com,
Speaker 2: and on Applecarplay and Android Auto with the Bloomberg Business app.