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 3: I'm Tim Statobek along with Carol Masser. Let's take a
Speaker 3: look at the stocks on the move. We've got Matthew
Speaker 3: Griffin with us Bloomberg News, us acuts reporter with today's
Speaker 3: stock movers.
Speaker 4: Hey Matthew, Hey Tim, how are you doing at the
Speaker 4: end of the week.
Speaker 3: Yeah, I mean we got here kinda. We're on our
Speaker 3: way there. I'll tell you in about two and a
Speaker 3: half hours.
Speaker 1: Let's talk about some of the stocks on the move.
Speaker 1: We had some big moves this week, even in today's session.
Speaker 1: We're gonna kick it off with that last CN.
Speaker 2: Yes.
Speaker 4: Well, Carol ed Lassian is one of the biggest movers today.
Speaker 4: That stock ticker team up about thirty six percent, now
Speaker 4: actually having its best day ever. The software company gave
Speaker 4: a revenue outlook for the current quarter that was better
Speaker 4: than Wall Street expected. That's for revenue of as much
Speaker 4: as one point seven two billion dollars analysts looking for
Speaker 4: just one point sixty seven and as is usually the
Speaker 4: case with software companies, that's being interpreted in the context
Speaker 4: of the AI story, the SaaS apocalypse story, what it
Speaker 4: says about the future. Seems like that number is comforting
Speaker 4: investors a little bit about at Lassian's place in the
Speaker 4: age of AI, maybe even some of the benefits they'll
Speaker 4: get from software that works with AI.
Speaker 3: I'm really glad you went there, because if you look
Speaker 3: at a longer term chart for this company, I mean,
Speaker 3: this was a stock that was about four hundred and
Speaker 3: fifty dollars a share. It hit a high of in
Speaker 3: twenty twenty one of four to fifty eight. It's now
Speaker 3: training at one fifty a share. So it's still down
Speaker 3: about sixty seven percent from that high back in twenty
Speaker 3: twenty one. So if even with today's move of what
Speaker 3: thirty six percent right now, thirty seven percent of the upside, Yeah,
Speaker 3: it's got a long way to go to get back there.
Speaker 1: Yeah, still down seven percent here to date and you've
Speaker 1: got eleven percent of the float short. So the sentiment
Speaker 1: on a name like this Matthew right, you know, it's
Speaker 1: it's a negative sentiment, but we understand what's been going
Speaker 1: on in this space. But definitely an outperformer in today's
Speaker 1: session I might steal it from my gainers.
Speaker 3: Absolutely, I haven't kind of I looked over there and
Speaker 3: saw you taking notes on what he was saying.
Speaker 1: I haven't done my list yet, but this may make
Speaker 1: it all right. Let's flip it on over to also
Speaker 1: another high flyer today, and we're talking about Airbnb.
Speaker 4: Yes, and Airbnb also in tech, but we've got a
Speaker 4: different reason here, which is travel demand is really strong
Speaker 4: and it's very resilient. That stock ticker AB and B
Speaker 4: up fifteen percent right now. After Airbnb raised its revenue
Speaker 4: outlook for the second time this year. They now see
Speaker 4: at least a mid teens percentage increase in revenue for
Speaker 4: the full year. That prior outlook was for low to
Speaker 4: mid teens demand. They said, strong in North America, strong
Speaker 4: in other important markets like the UK, like Australia. One
Speaker 4: thing I thought was interesting they have this kind of
Speaker 4: newer business of renting out boutique hotel rooms.
Speaker 1: That this is fascinating.
Speaker 4: Go. Yeah, they got into that, or at least really
Speaker 4: expanded it because cities were putting restrictions on short term rentals,
Speaker 4: but it has proven to be such a strong growth driver,
Speaker 4: growing multiple times the rate of their core you know,
Speaker 4: renting out homes business that they're expanding it into other
Speaker 4: cities that don't have this kind of restriction. It's a
Speaker 4: small part of the business right now, but really contributing
Speaker 4: to those growth numbers.
Speaker 3: That's so interesting.
Speaker 4: Yeah.
Speaker 1: Yeah, So it's like basically, I guess a hotel like
Speaker 1: just yeah, they're on their website right as New York, Paris.
Speaker 3: London, Madrid. The services business. It's also begun selling resort
Speaker 3: passes to give guess access to amenities at hotels. So
Speaker 3: better a one stop shop.
Speaker 1: Yeah, better than right for a hotel, like it's staying empty, right,
Speaker 1: so you get some revenue.
Speaker 3: Speaking of empty, I went to Sweet Green today and
Speaker 3: it was empty.
Speaker 4: Truly.
Speaker 3: I couldn't believe it on a granted it's a Friday,
Speaker 3: but tell us what the stock is doing quickly?
Speaker 4: Yeah, well, consumers, they're wary. That stock ticker SG down
Speaker 4: almost nine percent. They cut a full year outlook for
Speaker 4: sales at established restaurant now see that down as much
Speaker 4: as eight percent because of this cyclospora parasite outbreak. They
Speaker 4: haven't been personally affected. They don't even sell Iceberg lettuce,
Speaker 4: which is you know what's been connected to it by
Speaker 4: health authorities, but they say consumers are very cautious right now.
Speaker 1: Yeah, it's it's kind of tough, and I get it, Like,
Speaker 1: if you're a consumer, you just kind of are going
Speaker 1: to be careful. I know how you doing there, buddy, How.
Speaker 3: Are you feeling.
Speaker 1: How's your telling me?
Speaker 3: It's great?
Speaker 1: All right, We're going to keep an eye on him,
Speaker 1: all right, and we'll see.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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Speaker 2: making news on Wall Street and for the latest market
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