Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: This Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: This is Charlie Pelp. Let's take a look at some
Speaker 3: of the stocks on the move today. We are joined
Speaker 3: now by Christina Quino, Managing editor for the Market's Live
Speaker 3: blog for Bloomberg News. Got to begin with a major
Speaker 3: story involving eBay. We've got Ryan Cohen at it again.
Speaker 3: He's the Canadian entrepreneur turned activist investor. What is it
Speaker 3: that he is trying to buy and how much of
Speaker 3: a surprise was this for markets?
Speaker 1: Well, Charlie, based on the movers on the eBay shares
Speaker 1: today more than five percent by the end of the
Speaker 1: regular trading session, there's a big surprise there for investors.
Speaker 1: Games up apparently making a fifty six billion dollar bid
Speaker 1: for eBay and they are offering one hundred and twenty
Speaker 1: five dollars per share in cash and stock. So eBay
Speaker 1: apparently did not know about this prior to the move
Speaker 1: and is now saying that will review the offer quote
Speaker 1: with a focus on the value to be delivered to shareholders,
Speaker 1: including the value of game Stop stocks. Very interesting, and
Speaker 1: we also had Michael Burry, by the way of Big
Speaker 1: Short Fame, apparently saying that he's going sold or he
Speaker 1: sold his entire position in gamesof after news of the
Speaker 1: offer came out, So very interesting that does Michael Burry
Speaker 1: know something that investors don't know? That is the big question,
Speaker 1: isn't it you have any.
Speaker 3: Questions about financing for this thing?
Speaker 1: I mean absolutely, I think that is going to be
Speaker 1: the focus, Charlie, because at this moment, you know, there's
Speaker 1: little clarity in terms of how gamesof is going to
Speaker 1: make this purchase potentially and as part of a reason
Speaker 1: probably why the likes of Michael Burry opting to kind
Speaker 1: of excuse himself from the narrative, shall we say, from
Speaker 1: this And so I think that's suddenly one of the
Speaker 1: things that eBay investors in the board will want to
Speaker 1: dig into is the structure of such a deal and
Speaker 1: whether it is something that GameStop can follow through given
Speaker 1: the volatility that we've seen in game Stop stairs over
Speaker 1: the last few years.
Speaker 3: Indeed, certainly a story we're going to be watching in
Speaker 3: the next couple of days, possibly the next few weeks.
Speaker 3: Game Stop lower today eBay Hire. Our earning season upon
Speaker 3: us and we have got a busy week for earnings.
Speaker 3: Last week was all about texts and I want to
Speaker 3: switch gears. I want to move over to protein, meat
Speaker 3: and chicken. We heard from Tyson this morning, Tyson shares
Speaker 3: surging today by eight percent. What happened in the quarter?
Speaker 1: Yeah, absolutely, Charlie, I mean, very good results from the
Speaker 1: looks of it. So Tyson, of course the largest US
Speaker 1: meat packer, raising its full your profit outlook, and they're
Speaker 1: specifically citing strong demand for protein as the driver of
Speaker 1: that move. They said the adjusted operating income will be
Speaker 1: between two point two billion dollars and two point four
Speaker 1: billion dollars in a full fiscal year, which is one
Speaker 1: hundred million dollars more from the prior range. Now not
Speaker 1: all good news though for the company. They did see
Speaker 1: a wider loss in its beef operations. That's expected to
Speaker 1: lose three hundred and fifty million to five hundred million
Speaker 1: dollars for the full year of twenty twenty six. But
Speaker 1: clearly what they're seeing in terms of protein demand in
Speaker 1: general more than offsets that loss in beef, which is
Speaker 1: probably that's probably driven by higher costs of beef than
Speaker 1: anything else.
Speaker 3: Yeah, so it doesn't necessarily come down to chicken versus beef.
Speaker 3: This is other factors at play.
Speaker 1: Yeah, it looks like it for sure, Charlie. But you know,
Speaker 1: I mean, chicken over the last few years, just in general,
Speaker 1: has been becoming more popular precisely because it is a
Speaker 1: cheaper source of protein versus beef. And so we've seen
Speaker 1: a number of restaurants, for instance, kind of leaning into
Speaker 1: the demand for chicken wings and things like that. And
Speaker 1: so that's probably something that is benefiting Tyson Foods as well,
Speaker 1: helping it hold up in general despite the higher cost
Speaker 1: of beef in the wider loss that's seen in that segment.
Speaker 3: And the chairs up today by eight percent on Tyson Foods.
Speaker 3: Let's move on now to a wild story involving delivery companies,
Speaker 3: specifically the package delivery companies FedEx and UPS. Those shares
Speaker 3: got hit hard today and this involves I'll let you
Speaker 3: identify the company. It involves Amazon.
Speaker 1: Who else? Right? Who else is big enough to rival
Speaker 1: these established, well known carriers in the US. But that's
Speaker 1: exactly why UPS shares down more than ten percent today.
Speaker 1: That is because Amazon announced expanded logistics offerings that will
Speaker 1: turn it into a major competitor for parcel carriers and
Speaker 1: air freight companies such as FedEx and UPS, and so
Speaker 1: investors really worried about how this is going to turn
Speaker 1: Amazon into a more direct competitor. At the moment. There's
Speaker 1: a bit of a symbiotic relationship here, right because Amazon,
Speaker 1: you know, as primarily an online retailer, still tends to
Speaker 1: rely in some respects on UPS and FedEx services. I
Speaker 1: know personally that I've received Amazon packages delivered via FedEx.
Speaker 1: But now that Amazon is kind of really diving into
Speaker 1: the space, there is potential for the retailer to become
Speaker 1: a one stop shop retailer and also a delivery company.
Speaker 3: And again, FedEx down nine percent, worse day in more
Speaker 3: than a year.
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