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.
Speaker 3: Data to look at some of the stocks on the
Speaker 3: move today. We're joined by Bloomberg's Equities reporter Bailey Lipschoaltz Billy,
Speaker 3: what are you looking at today?
Speaker 1: I want to start with the best performer in the
Speaker 1: S and P five hundred. That is, none are other
Speaker 1: than Garmin, Tick or gr MN, mostly well known for
Speaker 1: their smart watches, competitors to Apple Apple Watches. I'm an
Speaker 1: Apple Watch user, though they do have some products for
Speaker 1: sports and fitness.
Speaker 4: Car one of time it was the GPS, Yes, it
Speaker 4: was the GPS firm.
Speaker 1: Then they re kind of invigorated themselves. They actually kind
Speaker 1: of do have a broader suite of platform products, ranging
Speaker 1: from workout products to things that operate with marines, so
Speaker 1: like if you are on a boat, you use that
Speaker 1: to help kind of steer find out where you are.
Speaker 1: GPS except et cetera. Soccer right now up sixteen percent,
Speaker 1: so best performing the SP five hundred, biggest jump on
Speaker 1: an intra day basis since October twenty twenty four, beating
Speaker 1: estimates on the top and bottom line, introducing a guidance
Speaker 1: well above Wall Street. As I had mentioned, they have
Speaker 1: a number of suites, so fitness net sales beat expectations,
Speaker 1: as did their outdoor unit, same with aviation and marine.
Speaker 1: They also have auto sales products as well, which beat expectations.
Speaker 1: So really kind of every business unit performing relative to
Speaker 1: what Wall Street was looking for.
Speaker 4: All right, second company on your radar, This is for you, Scarlett,
Speaker 4: because you are wearing the yes, the jacket I wear
Speaker 4: these most days.
Speaker 2: Tho too.
Speaker 1: Okay, okay, it is there. It is exactly New York Rangers.
Speaker 1: Madison Square Garden Sports, not to be confused with the
Speaker 1: Network in Entertainment MSGS is the ticker right now up
Speaker 1: about sixteen percent, trading at the record high since twenty fifteen.
Speaker 1: This does come after news that the company's board approved
Speaker 1: of potentially spinning off the Knicks as well as the Rangers.
Speaker 1: When you look at the Sportico value X estimations, those
Speaker 1: two companies would be or two teams and franchises would
Speaker 1: combine to be north of thirteen billion dollars, which compares
Speaker 1: to their enterprise value of about nine point two billion would
Speaker 1: you buy the shares? Would you be a proud owner?
Speaker 4: I don't know that they're making it available to retail investorors, yes,
Speaker 4: or Joe superfan, you know.
Speaker 1: Once they're probably traded though. If they're separate, well.
Speaker 4: There's argument to be made by ms now.
Speaker 1: Yeah, you can try both.
Speaker 3: Bym now.
Speaker 4: So you want a direct stick, you know in the Rangers. Actually,
Speaker 4: i'd wait for this restructuring period to end the rebuild period.
Speaker 3: I would argue, I'm glad you quoted the enterprise value
Speaker 3: of let's call it roughly ten billion dollars, and maybe
Speaker 3: Sportico thanks to the assets, are worth thirteen. That's a
Speaker 3: public market discount. I don't know if that's so great
Speaker 3: to take it to split them on I don't know,
Speaker 3: but the bankers are looking for feesa.
Speaker 1: The thing to me that's interesting is the Knicks are
Speaker 1: second or third in the East and the Rangers at
Speaker 1: the bottom of the table on hockey. So it's like,
Speaker 1: are you benefiting from people getting indoors playoff tickets gate?
Speaker 2: I don't know.
Speaker 3: I mean, it's just it's I guess they're worth more.
Speaker 3: But the question is, you know, do you want to
Speaker 3: have them separate and do all that, and do you
Speaker 3: think you'll get that much value.
Speaker 4: Creationd Well, maybe there are other institutional investors who do
Speaker 4: want to buy the teams, but they want to buy
Speaker 4: one specific team, and this would be a cleaner way
Speaker 4: to allow that to happen.
Speaker 3: If you look at the shareholders, and I've covered the
Speaker 3: stock for years and it's nobody cares. They just want
Speaker 3: to we know what the value of the teams are.
Speaker 3: We'll put it a public market discount just to get
Speaker 3: access to it. And that's it. So if you think
Speaker 3: the discount's too great because the Lakers just traded it
Speaker 3: some monster number, okay, but over time at all, I
Speaker 3: think it's just another deal for Jimmy Dolan. He likes
Speaker 3: to do stuff, all right, what's the next he.
Speaker 1: Likes to do stuff.
Speaker 3: Hey as a banker, great client.
Speaker 4: Hey you're happy to have that kind of clip.
Speaker 1: With the company raising capital?
Speaker 3: Push you together again, Promidal one are Times?
Speaker 1: Look at you? Well, we're pivoting away from New York.
Speaker 1: New York Times was the initial pick. But then the
Speaker 1: stock right now is pretty much flat, so we skip
Speaker 1: that through. The sock was up on buffet steak. We
Speaker 1: are facing now on wing stop ticker wing one of
Speaker 1: the better tickers in my view of sixteen percent better
Speaker 1: than feared comp sales, laying out expectations for their restaurant
Speaker 1: chain numbers to actually go up more than some analysts
Speaker 1: on Wall Street had been expecting. There's been a lot
Speaker 1: of debate around how Wingstop and some of these other
Speaker 1: peers could benefit or lose out based on the state
Speaker 1: of the US economy and US consumer laying those issues,
Speaker 1: but again really only moving back to where it was
Speaker 1: earlier this year, which compares with the likes of McDonald's
Speaker 1: and some others that have been on quite a bit
Speaker 1: of a tear.
Speaker 4: Catas for Wingstop, the Super bowls over, well.
Speaker 3: We were the surveillance team earlier, we were o for
Speaker 3: the studio. No one had been to a wing Stop really, Yes,
Speaker 3: so you've been to wing Stop.
Speaker 1: I've ordered wingstock, but I've never been inside. Okay, I
Speaker 1: don't know if that counts.
Speaker 3: I don't like chicken wings, so oh yes, that would
Speaker 3: be a problem.
Speaker 1: Yeah like wings, Yeah, tenders.
Speaker 4: I like chickens with bones.
Speaker 2: This is very to me.
Speaker 4: So I don't want to eat chickens with bones. Maybe
Speaker 4: it's messy, but so you'd be.
Speaker 1: Like a Tenders fan or like a Nuggets. Well they
Speaker 1: have they have they bonus.
Speaker 3: What they have them and then they have the classic
Speaker 3: with the bone in exactly is how I roll.
Speaker 1: You get the flats the best value.
Speaker 3: Yeah, I totally missed a whole segment of the Surveillance
Speaker 3: Show because I was in deep into the menu of
Speaker 3: the Yes, I got.
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