WEBVTT - Garmin Rises, MSG Sports Jumps, Wingstop Rises on Better Than Expected Sales

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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.

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<v Speaker 3>Data to look at some of the stocks on the

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<v Speaker 3>move today. We're joined by Bloomberg's Equities reporter Bailey Lipschoaltz Billy,

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<v Speaker 3>what are you looking at today?

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<v Speaker 1>I want to start with the best performer in the

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<v Speaker 1>S and P five hundred. That is, none are other

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<v Speaker 1>than Garmin, Tick or gr MN, mostly well known for

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<v Speaker 1>their smart watches, competitors to Apple Apple Watches. I'm an

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<v Speaker 1>Apple Watch user, though they do have some products for

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<v Speaker 1>sports and fitness.

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<v Speaker 4>Car one of time it was the GPS, Yes, it

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<v Speaker 4>was the GPS firm.

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<v Speaker 1>Then they re kind of invigorated themselves. They actually kind

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<v Speaker 1>of do have a broader suite of platform products, ranging

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<v Speaker 1>from workout products to things that operate with marines, so

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<v Speaker 1>like if you are on a boat, you use that

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<v Speaker 1>to help kind of steer find out where you are.

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<v Speaker 1>GPS except et cetera. Soccer right now up sixteen percent,

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<v Speaker 1>so best performing the SP five hundred, biggest jump on

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<v Speaker 1>an intra day basis since October twenty twenty four, beating

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<v Speaker 1>estimates on the top and bottom line, introducing a guidance

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<v Speaker 1>well above Wall Street. As I had mentioned, they have

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<v Speaker 1>a number of suites, so fitness net sales beat expectations,

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<v Speaker 1>as did their outdoor unit, same with aviation and marine.

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<v Speaker 1>They also have auto sales products as well, which beat expectations.

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<v Speaker 1>So really kind of every business unit performing relative to

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<v Speaker 1>what Wall Street was looking for.

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<v Speaker 4>All right, second company on your radar, This is for you, Scarlett,

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<v Speaker 4>because you are wearing the yes, the jacket I wear

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<v Speaker 4>these most days.

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<v Speaker 2>Tho too.

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<v Speaker 1>Okay, okay, it is there. It is exactly New York Rangers.

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<v Speaker 1>Madison Square Garden Sports, not to be confused with the

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<v Speaker 1>Network in Entertainment MSGS is the ticker right now up

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<v Speaker 1>about sixteen percent, trading at the record high since twenty fifteen.

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<v Speaker 1>This does come after news that the company's board approved

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<v Speaker 1>of potentially spinning off the Knicks as well as the Rangers.

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<v Speaker 1>When you look at the Sportico value X estimations, those

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<v Speaker 1>two companies would be or two teams and franchises would

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<v Speaker 1>combine to be north of thirteen billion dollars, which compares

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<v Speaker 1>to their enterprise value of about nine point two billion would

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<v Speaker 1>you buy the shares? Would you be a proud owner?

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<v Speaker 4>I don't know that they're making it available to retail investorors, yes,

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<v Speaker 4>or Joe superfan, you know.

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<v Speaker 1>Once they're probably traded though. If they're separate, well.

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<v Speaker 4>There's argument to be made by ms now.

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<v Speaker 1>Yeah, you can try both.

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<v Speaker 3>Bym now.

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<v Speaker 4>So you want a direct stick, you know in the Rangers. Actually,

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<v Speaker 4>i'd wait for this restructuring period to end the rebuild period.

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<v Speaker 3>I would argue, I'm glad you quoted the enterprise value

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<v Speaker 3>of let's call it roughly ten billion dollars, and maybe

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<v Speaker 3>Sportico thanks to the assets, are worth thirteen. That's a

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<v Speaker 3>public market discount. I don't know if that's so great

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<v Speaker 3>to take it to split them on I don't know,

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<v Speaker 3>but the bankers are looking for feesa.

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<v Speaker 1>The thing to me that's interesting is the Knicks are

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<v Speaker 1>second or third in the East and the Rangers at

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<v Speaker 1>the bottom of the table on hockey. So it's like,

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<v Speaker 1>are you benefiting from people getting indoors playoff tickets gate?

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<v Speaker 2>I don't know.

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<v Speaker 3>I mean, it's just it's I guess they're worth more.

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<v Speaker 3>But the question is, you know, do you want to

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<v Speaker 3>have them separate and do all that, and do you

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<v Speaker 3>think you'll get that much value.

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<v Speaker 4>Creationd Well, maybe there are other institutional investors who do

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<v Speaker 4>want to buy the teams, but they want to buy

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<v Speaker 4>one specific team, and this would be a cleaner way

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<v Speaker 4>to allow that to happen.

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<v Speaker 3>If you look at the shareholders, and I've covered the

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<v Speaker 3>stock for years and it's nobody cares. They just want

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<v Speaker 3>to we know what the value of the teams are.

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<v Speaker 3>We'll put it a public market discount just to get

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<v Speaker 3>access to it. And that's it. So if you think

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<v Speaker 3>the discount's too great because the Lakers just traded it

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<v Speaker 3>some monster number, okay, but over time at all, I

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<v Speaker 3>think it's just another deal for Jimmy Dolan. He likes

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<v Speaker 3>to do stuff, all right, what's the next he.

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<v Speaker 1>Likes to do stuff.

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<v Speaker 3>Hey as a banker, great client.

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<v Speaker 4>Hey you're happy to have that kind of clip.

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<v Speaker 1>With the company raising capital?

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<v Speaker 3>Push you together again, Promidal one are Times?

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<v Speaker 1>Look at you? Well, we're pivoting away from New York.

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<v Speaker 1>New York Times was the initial pick. But then the

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<v Speaker 1>stock right now is pretty much flat, so we skip

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<v Speaker 1>that through. The sock was up on buffet steak. We

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<v Speaker 1>are facing now on wing stop ticker wing one of

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<v Speaker 1>the better tickers in my view of sixteen percent better

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<v Speaker 1>than feared comp sales, laying out expectations for their restaurant

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<v Speaker 1>chain numbers to actually go up more than some analysts

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<v Speaker 1>on Wall Street had been expecting. There's been a lot

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<v Speaker 1>of debate around how Wingstop and some of these other

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<v Speaker 1>peers could benefit or lose out based on the state

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<v Speaker 1>of the US economy and US consumer laying those issues,

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<v Speaker 1>but again really only moving back to where it was

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<v Speaker 1>earlier this year, which compares with the likes of McDonald's

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<v Speaker 1>and some others that have been on quite a bit

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<v Speaker 1>of a tear.

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<v Speaker 4>Catas for Wingstop, the Super bowls over, well.

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<v Speaker 3>We were the surveillance team earlier, we were o for

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<v Speaker 3>the studio. No one had been to a wing Stop really, Yes,

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<v Speaker 3>so you've been to wing Stop.

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<v Speaker 1>I've ordered wingstock, but I've never been inside. Okay, I

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<v Speaker 1>don't know if that counts.

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<v Speaker 3>I don't like chicken wings, so oh yes, that would

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<v Speaker 3>be a problem.

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<v Speaker 1>Yeah like wings, Yeah, tenders.

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<v Speaker 4>I like chickens with bones.

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<v Speaker 2>This is very to me.

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<v Speaker 4>So I don't want to eat chickens with bones. Maybe

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<v Speaker 4>it's messy, but so you'd be.

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<v Speaker 1>Like a Tenders fan or like a Nuggets. Well they

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<v Speaker 1>have they have they bonus.

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<v Speaker 3>What they have them and then they have the classic

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<v Speaker 3>with the bone in exactly is how I roll.

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<v Speaker 1>You get the flats the best value.

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<v Speaker 3>Yeah, I totally missed a whole segment of the Surveillance

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<v Speaker 3>Show because I was in deep into the menu of

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<v Speaker 3>the Yes, I got.

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