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: Let's see where some individual stocks are on the move today.
Speaker 3: We can do that. We're joined by Bloomberg's Avalon for now,
Speaker 3: she's an equity quorter for Bloomberg News.
Speaker 2: Avalon.
Speaker 3: What are you looking at today?
Speaker 1: We have to start off with Adobe that's currently falling
Speaker 1: about eight point or rather six point seven percent now
Speaker 1: to hit its lowest interday level since twenty eighteen. That's
Speaker 1: ticker ADB, and that's after the company announce a departure
Speaker 1: of its CFO, just months after the CEO also announced
Speaker 1: plans to step aside. The news also comes as Adobe
Speaker 1: reported a second quarter beat, but gave a full year
Speaker 1: forecast that fell a little short of expectations, and as
Speaker 1: you can imagine, the update led to a slew of
Speaker 1: downgrades in price target cuts as Wall Street analysts really
Speaker 1: question the path forward amid this transition. Evercore writing that
Speaker 1: the sentiment is unlikely to turn positive until a new
Speaker 1: management team is in place. Oh boy, so we could
Speaker 1: be waiting for a while there Okay, next up Lenard
Speaker 1: that's ticker l e N, currently dipping about three point
Speaker 1: seven percent. That's after the home builder's delivery forecast for
Speaker 1: the third quarter fell short of expectations, Management again calling
Speaker 1: out to continuing pressure from high interest rates in geopolitical uncertainty,
Speaker 1: which is obviously spurring some customers to hold back on purchases.
Speaker 1: Truists also writing that while the results were fairly disappointing,
Speaker 1: it was somewhat encouraging that the results did not include
Speaker 1: a margin breakdown. Also worth noting that their peer KB
Speaker 1: Home called out to similar concerns last quarter and they
Speaker 1: will be reporting June twenty third.
Speaker 3: I mean interest rates higher. You know, the thirty or
Speaker 3: more riage is that can't be helping six and a
Speaker 3: half percent for thirty or morgage exactly. All right, So
Speaker 3: there you go. I'm not refinancing the mortgage on the
Speaker 3: Jersey Shore compound yet. Give us one more here.
Speaker 1: Medline md LN currently slipping about two point three percent.
Speaker 1: That's after the medical supplier suffered another setback from a
Speaker 1: fire at a distribution facility. Lyrinc expecting some short term
Speaker 1: financial impacts since at a minimum, this is going to
Speaker 1: be taking a distribution facility offline. But that's not the
Speaker 1: only hardship that Medline has faced recently. Just last week,
Speaker 1: the FDA sent them a warning letter for several contamination
Speaker 1: incidents at a manufacturing facility, and now that company stock
Speaker 1: is down about twelve percent since its debut as last
Speaker 1: year's biggest ibo.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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