WEBVTT - Peloton Slides; Zillow and Six Flags Drop

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

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

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

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<v Speaker 1>Let's take a look at some stocks in the move today.

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<v Speaker 3>Alexis Koso, all right, we always do. Let's start with Peloton.

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<v Speaker 3>Some of you might be on your Peloton bike right

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<v Speaker 3>now listening to us, but the stock is down more

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<v Speaker 3>than ten percent pre market. Another setback here for the

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<v Speaker 3>fitness tech company, a revenue forecast for the fiscal year

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<v Speaker 3>twenty twenty seven coming in well below estimates. Peloton CEO

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<v Speaker 3>says that expected revenue decline, though, is due to churn

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<v Speaker 3>created by recent subscription price hikes, and the company now

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<v Speaker 3>expects hardware subscriptions to fall ten percent this quarter on

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<v Speaker 3>an annual basis, while overall Peloton memberships fell about nine

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<v Speaker 3>percent in the fourth quarter to about five and a

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<v Speaker 3>half million users. Remember when this company was absolutely on

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<v Speaker 3>fire during the pandemic, the lockdowns.

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<v Speaker 1>They hooked me. I got my one hundred rides, got

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<v Speaker 1>my T shirt. Well good for you, yeah, But then

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<v Speaker 1>when I went back to work, I was Okay, I'll

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<v Speaker 1>go back to my old habit.

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<v Speaker 3>But you still you say you still use it though, No,

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<v Speaker 3>I don't.

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<v Speaker 1>Karen from the Jersey Shore does like a maniac. I don't.

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<v Speaker 1>I haven't been on it since I came back to work.

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<v Speaker 3>Good for you, Karen. So there are going to be

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<v Speaker 3>some new consumer offerings this calendar year. They didn't get

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<v Speaker 3>specific as to what those are. But it's not helping

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<v Speaker 3>the stock much. Let's move on to Zillo, The ticker

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<v Speaker 3>symbol z taking a hit down twelve percent pre market.

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<v Speaker 3>It is down forty seven percent so far this year.

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<v Speaker 3>Zillo swung to a second quarter loss of four million

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<v Speaker 3>dollars thanks to restructuring costs that weighed on its bottom line,

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<v Speaker 3>despite an eighteen percent jump in revenue. Zillo was calling

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<v Speaker 3>the rental market a bright spot rentals for homes and apartments.

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<v Speaker 3>They say more property managers are placing their listings on Zillo.

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<v Speaker 3>It now expects the third quarter revenue to come in

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<v Speaker 3>below estimates. They say it reflects a decline or an

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<v Speaker 3>anticipated client in mortgage originations, because we know the housing

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<v Speaker 3>market continues to be a challenging one, and we're just

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<v Speaker 3>talking about interest rates. Mortgage rates this week going to

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<v Speaker 3>six point eight one percent now that's the highest and

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<v Speaker 3>more than a year.

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<v Speaker 1>I love the Zillo because you can drive by a

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<v Speaker 1>house and say, well, that's a nice house. I wonder

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<v Speaker 1>what it's worth, and then you go right on the

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<v Speaker 1>Zilla and.

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<v Speaker 3>Guilty, Guilty as charged.

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<v Speaker 1>Christ is accurate, I think there.

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<v Speaker 3>I think they are. Yeah, oh yeah, they give estimates,

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<v Speaker 3>but then they also tell you what they sold for.

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<v Speaker 1>Yeah, so that's good stuff.

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<v Speaker 3>Okay, it's a little voyeurism, you know, with this whole

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<v Speaker 3>big time. Okay, six Flags the ticker symbol fun. It's

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<v Speaker 3>not a lot of fun today because the stock is

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<v Speaker 3>down six percent. It's quarterly lost, widened, falling attendance, fewer

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<v Speaker 3>people going to this amusement park. So six Flags also

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<v Speaker 3>sold seven non core parks to EPR properties. It also

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<v Speaker 3>closed another park in Maryland. Remember last year attendance felled

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<v Speaker 3>to about thirteen point one million, down from more than

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<v Speaker 3>fourteen million.

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<v Speaker 1>A year ago.

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<v Speaker 3>So that's a pretty big loss there.

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<v Speaker 4>And they see some weakness yeh, Comcast, which owns one

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<v Speaker 4>all the Warner parks, they saw Universal right Orlando or

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<v Speaker 4>the University parks. But then Disney came out and said

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<v Speaker 4>the Orlando business was strong.

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<v Speaker 1>So it's I don't know.

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<v Speaker 3>And the park prices have been going up at Disney.

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<v Speaker 1>It is actually christ people right, It's just like baseball.

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<v Speaker 1>It's no different.

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<v Speaker 3>You can't bring your family to a baseball game or Disney.

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<v Speaker 1>It's not funny. It's like really really, really difficult.

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<v Speaker 3>Can I squeeze one more in please quick? Legal Zoom

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<v Speaker 3>I have to talk about it because it's down twenty

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<v Speaker 3>three percent, the firm's third quarter and full year revenue

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<v Speaker 3>missing estimates. There's a lot of concern here about AI

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<v Speaker 3>and what it means to traffic at Legal Zoom.

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