WEBVTT - Shake Shack Plunges, DataDog Soars, Citigroup Drops on ‘Underwhelming’ New Profitability Target 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>Let's second look at what are the some of the

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<v Speaker 2>stocks are moving today. We can do that with Carmen Ryanicky,

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<v Speaker 2>Deputy team leader for US Equities, joined us here in studio. Carmen,

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<v Speaker 2>what are you looking at? Yeah? So the first one

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<v Speaker 2>we're looking at today, A really incredible drop here is

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<v Speaker 2>shake Shack. So this is ticker shak shares our down

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<v Speaker 2>about thirty percent right now. This is the largest drop

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<v Speaker 2>on record for the company, and it's bringing the stock

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<v Speaker 2>to the lowest level since early in twenty twenty four,

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<v Speaker 2>So really significant here. So the company had earnings this morning.

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<v Speaker 2>It reported first quarter revenue. The missed expectations and the

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<v Speaker 2>reasons why I think are interesting here. So it is

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<v Speaker 2>higher costs of beef for rising beef costs and inclement weather,

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<v Speaker 2>so huge impact. Actually, I guess if weather is bad,

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<v Speaker 2>people are just not going out to eat hicksheck, but

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<v Speaker 2>they'll go to other places like McDonald's, which is doing

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<v Speaker 2>just fine. Right. I don't know, it's just that shake

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<v Speaker 2>Check well, McDonald's has a drive through.

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<v Speaker 1>All right, right, So that's that's right.

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<v Speaker 2>What else we got? All right? So speaking of AI,

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<v Speaker 2>great segue, let's talk about Data Dog ticker. DDOG shares

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<v Speaker 2>are up thirty one percent right now. This is the

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<v Speaker 2>most since November twenty twenty three. This company also had

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<v Speaker 2>earnings this morning, so it raised its fullier outlook for

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<v Speaker 2>sales and earnings, much ahead of Wall Street's expectations. And

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<v Speaker 2>it looks like one of the things here is that

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<v Speaker 2>they are injecting AI. Data Dog sales cloud based platforms

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<v Speaker 2>that helps companies, it teams monitor their systems. So this

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<v Speaker 2>is interesting because we've seen such you know, software takes

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<v Speaker 2>such a hit in a lot of the first part

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<v Speaker 2>of this year here, and so Data Dog has gotten

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<v Speaker 2>sort of swept back up in the uptick that we've

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<v Speaker 2>seen in sort of all these AI stocks since really

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<v Speaker 2>like March thirtieth. But obviously seeing a really incredible game

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<v Speaker 2>today from this really bullish.

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<v Speaker 1>Outlook software AI higher. That's all we need to know

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<v Speaker 1>about that name.

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<v Speaker 2>Yep.

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<v Speaker 1>It looks like City Group is holding some kind of

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<v Speaker 1>investor day.

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<v Speaker 2>Yep, they're holding an investor day today. So the stock

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<v Speaker 2>is up about a quarter of a percent right now.

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<v Speaker 2>It was down earlier this morning. It's been bouncing around

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<v Speaker 2>a lot. Initially, investors were reacting to the the bank

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<v Speaker 2>issuing a new guidance, saying that it would take the

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<v Speaker 2>lender more time to catch up to Wall Street peers.

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<v Speaker 2>So this is ticker c. Also, it seems like there

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<v Speaker 2>also might be some dip buying here, as you mentioned

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<v Speaker 2>there is the company does have a conference today, also

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<v Speaker 2>noted so our banking reporter on the equities team flag

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<v Speaker 2>to that. Mike Mayo, Wells Fargo analyst said that he'd

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<v Speaker 2>be a buyer on weakness in shares of City Group.

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<v Speaker 2>He's a bull on this name. So we're seeing the

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<v Speaker 2>stock bounce around a little bit, but obviously a really

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<v Speaker 2>important name to watch in if that supor.

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<v Speaker 1>The stockmovers report from Bloomberg Radio. Check back with us

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