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 Carol Master along with Tim Stanevik. We do want
Speaker 3: to get to some stocks on the move with us
Speaker 3: as Noura Melinda Bloomberg TV Markets correspondent, and she's going
Speaker 3: to start with Sweet Green, which did report after the
Speaker 3: close today.
Speaker 4: It's struggling in the post market, shares of the company
Speaker 4: down about fifteen percent ticker on that as SG now
Speaker 4: the company slash its annual guide. But apart from that,
Speaker 4: everyone's essentially been looking at the whole cyclost spora situation
Speaker 4: and that's really been impacting Sweet Green and a lot
Speaker 4: of other restaurants that serve any sort of lettuce. But
Speaker 4: I will say that Sweet Green has been adamant about
Speaker 4: the fact that they actually don't have any issues in
Speaker 4: their supply chain. But you are still seeing diners really
Speaker 4: apprehensive as to whether or not they want to spend
Speaker 4: what fifteen plus dollars on salad bowl from Sweet Green,
Speaker 4: not knowing whether or not they'll get sick, even though
Speaker 4: it may be you know, partially some of a bit
Speaker 4: of a misunderstanding, but generally the company's really been struggling
Speaker 4: with the fact that prices still remain high in consumers
Speaker 4: are a bit strapped.
Speaker 1: A double whemmy if you will. For Sweet Green, I
Speaker 1: mean the company specifically and its press release calling out
Speaker 1: this updated outlook reflecting reduced consumer demand for fresh prepared
Speaker 1: foods due to the multi state outbreak of cyclospore asis
Speaker 1: since mid July. Yeah, we specifically are saying it's as
Speaker 1: a result of that.
Speaker 3: Yeah, reduce consumer demand, right, I get it. You know,
Speaker 3: if you think about it. We've had these conversations trying
Speaker 3: to figure it out, you know, buying let us in
Speaker 3: a supermarket or so on and so forth, and a
Speaker 3: lot of us are saying, well, we're deleting Greens. But
Speaker 3: if you are even a little nervous, you might say,
Speaker 3: you know what, I'm just going to back off for
Speaker 3: a while.
Speaker 4: I've been to so many lunches and dinners where you know,
Speaker 4: you might be interested in a Caesar salad or any
Speaker 4: sort of salad, and folks are just saying, no, let's
Speaker 4: skip it.
Speaker 3: I just want to add cases of cyclospora parasite infections
Speaker 3: in Michigan are declining. People can resume normal consumption of
Speaker 3: leafy greens. That's according to the state's health department putting
Speaker 3: a report out, and they just see a downward trend
Speaker 3: in the number of related emergency department visits.
Speaker 1: I would love to just I don't know if this
Speaker 1: even would exist or could exist because of liability, but
Speaker 1: I would just love to see sort of a central
Speaker 1: hub like, Okay, avoid this and you'll be fine, right,
Speaker 1: Like we have traced it, you know what I mean.
Speaker 3: Yeah, I think that's part of the scare, right.
Speaker 1: The hard part is that, like I said, scientists have
Speaker 1: a difficult time tracing this because lettuce is so perishable,
Speaker 1: so it doesn't live for very long in the lab
Speaker 1: in order to try to replicate the conditions of where
Speaker 1: this worder could occur, and.
Speaker 3: I did mention Michigan because that's where we saw that
Speaker 3: initial large cluster of infections in the Midwest, all right
Speaker 3: from Sweet Green to where do We Go?
Speaker 4: Trade Desk also down double digits in the postmarket. Trade
Speaker 4: take Our TTD down about twenty two percent. Now, this
Speaker 4: is after the company reported second quarter earnings and a
Speaker 4: third quarter four or cast that both missed expectations. You
Speaker 4: see you know it on the Bloomberg from Bloomberg Intelligence,
Speaker 4: saying that the turnaround plan for this company still remains elusive.
Speaker 4: Shares of the company have really been struggling this year.
Speaker 4: The stock is down about fifty three percent so far
Speaker 4: for twenty twenty six. So we'll have to see whether
Speaker 4: or not this shifts in the morning. But as for
Speaker 4: the post market, investors are not liking this.
Speaker 1: Programmatic ad placement. Yeah, it's been lough.
Speaker 3: Yeah, hey thirty seconds on Airbnb.
Speaker 2: Yeah.
Speaker 4: So Airbnb shares are up about eight percent in the
Speaker 4: post market trading. This is essentially after it lifted his
Speaker 4: twenty twenty six outlook again in the US and also
Speaker 4: cited some demand in Europe.
Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
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Speaker 3: Yeah