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 take a look at some stocks in the move today.
Speaker 3: Alexis Koso, all right, we always do. Let's start with Peloton.
Speaker 3: Some of you might be on your Peloton bike right
Speaker 3: now listening to us, but the stock is down more
Speaker 3: than ten percent pre market. Another setback here for the
Speaker 3: fitness tech company, a revenue forecast for the fiscal year
Speaker 3: twenty twenty seven coming in well below estimates. Peloton CEO
Speaker 3: says that expected revenue decline, though, is due to churn
Speaker 3: created by recent subscription price hikes, and the company now
Speaker 3: expects hardware subscriptions to fall ten percent this quarter on
Speaker 3: an annual basis, while overall Peloton memberships fell about nine
Speaker 3: percent in the fourth quarter to about five and a
Speaker 3: half million users. Remember when this company was absolutely on
Speaker 3: fire during the pandemic, the lockdowns.
Speaker 1: They hooked me. I got my one hundred rides, got
Speaker 1: my T shirt. Well good for you, yeah, But then
Speaker 1: when I went back to work, I was Okay, I'll
Speaker 1: go back to my old habit.
Speaker 3: But you still you say you still use it though, No,
Speaker 3: I don't.
Speaker 1: Karen from the Jersey Shore does like a maniac. I don't.
Speaker 1: I haven't been on it since I came back to work.
Speaker 3: Good for you, Karen. So there are going to be
Speaker 3: some new consumer offerings this calendar year. They didn't get
Speaker 3: specific as to what those are. But it's not helping
Speaker 3: the stock much. Let's move on to Zillo, The ticker
Speaker 3: symbol z taking a hit down twelve percent pre market.
Speaker 3: It is down forty seven percent so far this year.
Speaker 3: Zillo swung to a second quarter loss of four million
Speaker 3: dollars thanks to restructuring costs that weighed on its bottom line,
Speaker 3: despite an eighteen percent jump in revenue. Zillo was calling
Speaker 3: the rental market a bright spot rentals for homes and apartments.
Speaker 3: They say more property managers are placing their listings on Zillo.
Speaker 3: It now expects the third quarter revenue to come in
Speaker 3: below estimates. They say it reflects a decline or an
Speaker 3: anticipated client in mortgage originations, because we know the housing
Speaker 3: market continues to be a challenging one, and we're just
Speaker 3: talking about interest rates. Mortgage rates this week going to
Speaker 3: six point eight one percent now that's the highest and
Speaker 3: more than a year.
Speaker 1: I love the Zillo because you can drive by a
Speaker 1: house and say, well, that's a nice house. I wonder
Speaker 1: what it's worth, and then you go right on the
Speaker 1: Zilla and.
Speaker 3: Guilty, Guilty as charged.
Speaker 1: Christ is accurate, I think there.
Speaker 3: I think they are. Yeah, oh yeah, they give estimates,
Speaker 3: but then they also tell you what they sold for.
Speaker 1: Yeah, so that's good stuff.
Speaker 3: Okay, it's a little voyeurism, you know, with this whole
Speaker 3: big time. Okay, six Flags the ticker symbol fun. It's
Speaker 3: not a lot of fun today because the stock is
Speaker 3: down six percent. It's quarterly lost, widened, falling attendance, fewer
Speaker 3: people going to this amusement park. So six Flags also
Speaker 3: sold seven non core parks to EPR properties. It also
Speaker 3: closed another park in Maryland. Remember last year attendance felled
Speaker 3: to about thirteen point one million, down from more than
Speaker 3: fourteen million.
Speaker 1: A year ago.
Speaker 3: So that's a pretty big loss there.
Speaker 4: And they see some weakness yeh, Comcast, which owns one
Speaker 4: all the Warner parks, they saw Universal right Orlando or
Speaker 4: the University parks. But then Disney came out and said
Speaker 4: the Orlando business was strong.
Speaker 1: So it's I don't know.
Speaker 3: And the park prices have been going up at Disney.
Speaker 1: It is actually christ people right, It's just like baseball.
Speaker 1: It's no different.
Speaker 3: You can't bring your family to a baseball game or Disney.
Speaker 1: It's not funny. It's like really really, really difficult.
Speaker 3: Can I squeeze one more in please quick? Legal Zoom
Speaker 3: I have to talk about it because it's down twenty
Speaker 3: three percent, the firm's third quarter and full year revenue
Speaker 3: missing estimates. There's a lot of concern here about AI
Speaker 3: and what it means to traffic at Legal Zoom.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
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