1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,680 --> 00:00:19,520 Speaker 3: Now, let's take a look at some of the stocks 5 00:00:19,560 --> 00:00:23,120 Speaker 3: on the move today, joining us Bloomberg's Alex Semonova. Got 6 00:00:23,160 --> 00:00:26,439 Speaker 3: to begin with media stocks, specifically Netflix and the Walt 7 00:00:26,480 --> 00:00:29,479 Speaker 3: Disney Company. This after President and Trump announced that he 8 00:00:29,520 --> 00:00:33,599 Speaker 3: plans to impose a one hundred percent tariff on films 9 00:00:33,840 --> 00:00:37,919 Speaker 3: produced overseas. What happened to those stocks? Where do they 10 00:00:37,920 --> 00:00:38,760 Speaker 3: wind up closing? 11 00:00:39,040 --> 00:00:42,440 Speaker 1: Hey, Charlie, precisely, this is the latest industry to get 12 00:00:42,440 --> 00:00:46,239 Speaker 1: whipsawd by tariff headlines. Stocks in that segment had been 13 00:00:46,280 --> 00:00:49,400 Speaker 1: falling today after that announcement from President Trump on Sunday 14 00:00:49,400 --> 00:00:52,199 Speaker 1: that he plans to impose one hundred percent tariff on 15 00:00:52,360 --> 00:00:57,800 Speaker 1: films produced overseas. This extends his restrictive trade policies to 16 00:00:57,920 --> 00:01:01,080 Speaker 1: this industry for the first timefl was down one point 17 00:01:01,160 --> 00:01:04,240 Speaker 1: nine percent today. Disney not too bad, just slightly lower 18 00:01:04,319 --> 00:01:07,280 Speaker 1: about zero point four percent. But it seems like a 19 00:01:07,319 --> 00:01:10,319 Speaker 1: lot of people in the film and entertainment industry trying 20 00:01:10,360 --> 00:01:12,920 Speaker 1: to figure out what exactly he means by this. He 21 00:01:12,959 --> 00:01:15,160 Speaker 1: said that he would meet with executives later on to 22 00:01:15,240 --> 00:01:18,000 Speaker 1: provide a little bit more clarity, because again this came 23 00:01:18,000 --> 00:01:20,240 Speaker 1: from one of his posts on truth social and a 24 00:01:20,240 --> 00:01:22,360 Speaker 1: lot of people were trying to figure out what he 25 00:01:22,440 --> 00:01:23,480 Speaker 1: was talking about. Here. 26 00:01:23,560 --> 00:01:26,160 Speaker 3: There are some stories you see coming, there are other 27 00:01:26,280 --> 00:01:29,120 Speaker 3: stories you don't. I'm going to put this in the 28 00:01:29,160 --> 00:01:31,600 Speaker 3: category of didn't see that one coming. 29 00:01:31,720 --> 00:01:36,440 Speaker 1: Absolutely, like many of these terriff announcements that we've gotten another. 30 00:01:36,319 --> 00:01:40,440 Speaker 3: Big announcement over the weekend, Warren Buffett Berkshire Hathaway. The 31 00:01:40,560 --> 00:01:44,120 Speaker 3: stock declined today. What's happening with Berkshire? 32 00:01:44,280 --> 00:01:47,360 Speaker 1: Yeah, so Warren Buffett, in the final minute of his 33 00:01:47,520 --> 00:01:51,080 Speaker 1: sixtieth shareholder meeting, said that he was stepping down. He is, 34 00:01:51,120 --> 00:01:54,760 Speaker 1: of course, the architect and face of Berkshire Hathaway, retiring 35 00:01:54,800 --> 00:01:57,560 Speaker 1: at the young age of ninety four. Greg Abel is 36 00:01:57,840 --> 00:02:00,920 Speaker 1: his successor, and apparently greg Abel will isn't even aware 37 00:02:01,200 --> 00:02:03,040 Speaker 1: that his time had come. A lot of people were 38 00:02:03,080 --> 00:02:05,920 Speaker 1: really surprised by this announcement. They knew that Abel would 39 00:02:05,920 --> 00:02:09,080 Speaker 1: be the successor, but they didn't really expect for Warren 40 00:02:09,120 --> 00:02:12,359 Speaker 1: Buffett to say that at the time. So Abel is 41 00:02:12,400 --> 00:02:15,520 Speaker 1: inheriting a one point two trillion dollar company. He's going 42 00:02:15,560 --> 00:02:18,040 Speaker 1: to be managing this portfolio of stocks such as Apple, 43 00:02:18,080 --> 00:02:22,200 Speaker 1: American Express, also at insurance companies, energy companies, a whole 44 00:02:22,200 --> 00:02:24,800 Speaker 1: lot going on there, and of course the three hundred 45 00:02:24,840 --> 00:02:28,240 Speaker 1: and fifty billion dollar cash pile that Warren Buffett is leaving, and. 46 00:02:28,360 --> 00:02:30,800 Speaker 3: The big job for somebody and worth pointing out too 47 00:02:30,840 --> 00:02:32,760 Speaker 3: in the headline. I had to double check when I 48 00:02:32,760 --> 00:02:39,000 Speaker 3: saw the initial headline. Berkshire's return since inception five and 49 00:02:39,040 --> 00:02:41,720 Speaker 3: a half million percent. 50 00:02:41,760 --> 00:02:45,799 Speaker 1: Really just phenomenal, and that probably explains why the stock 51 00:02:45,880 --> 00:02:47,160 Speaker 1: is down today. If you look at some of the 52 00:02:47,200 --> 00:02:51,080 Speaker 1: analyst reactions, they were pretty positive. Abel is ready for this. 53 00:02:51,520 --> 00:02:54,160 Speaker 1: Bloomberg Intelligence even said that this will bring a fresh 54 00:02:54,240 --> 00:02:57,320 Speaker 1: approach to capital management. But the thing is, people are 55 00:02:57,360 --> 00:02:59,480 Speaker 1: so used to Warren Buffett being the face of the company, 56 00:02:59,520 --> 00:03:01,280 Speaker 1: so I think they were a bit kind of thrown 57 00:03:01,320 --> 00:03:03,600 Speaker 1: off by the announcement, trying to make sense of what 58 00:03:03,680 --> 00:03:05,920 Speaker 1: it will look like. And so the stock was down 59 00:03:06,480 --> 00:03:08,359 Speaker 1: about four point nine percent today. 60 00:03:08,560 --> 00:03:11,320 Speaker 3: All right, now let's move on to another company. We've 61 00:03:11,360 --> 00:03:16,560 Speaker 3: all heard of Berkshire, Hathaway, Disney, Netflix, but another company 62 00:03:16,560 --> 00:03:20,320 Speaker 3: that doesn't pop up that often on our screens. Fresh Pet. 63 00:03:20,520 --> 00:03:23,880 Speaker 3: They are out of Secaucus, New Jersey. I saw the 64 00:03:23,919 --> 00:03:27,320 Speaker 3: headline there was a forecast cut, but the stock moved higher. 65 00:03:27,560 --> 00:03:30,320 Speaker 1: Yeah, so really interesting. This is kind of an outlier 66 00:03:30,360 --> 00:03:34,320 Speaker 1: this earning season, Charlie, because even though the earnings were solid, 67 00:03:34,680 --> 00:03:37,280 Speaker 1: the forecast cut should have been enough to spook investors. 68 00:03:37,320 --> 00:03:39,560 Speaker 1: That's what has been happening with a lot of companies, 69 00:03:39,800 --> 00:03:42,880 Speaker 1: even companies that have been reporting good earnings. Anytime that 70 00:03:42,920 --> 00:03:46,080 Speaker 1: they've issued any kind of warnings about their outlook and 71 00:03:46,080 --> 00:03:48,840 Speaker 1: what their expectations are, the stocks have been punished. But 72 00:03:48,880 --> 00:03:51,480 Speaker 1: this time, actually it looks like you know, Fresh Pet 73 00:03:51,560 --> 00:03:53,800 Speaker 1: was up today at rose three point six percent, so 74 00:03:53,840 --> 00:03:56,720 Speaker 1: investors kind of shrugged that off. They posted a first 75 00:03:56,800 --> 00:04:00,640 Speaker 1: quarter revenue and adjusted EBITA that beat estimates. They also 76 00:04:00,760 --> 00:04:03,520 Speaker 1: said that they still expect the company will be free 77 00:04:03,600 --> 00:04:06,080 Speaker 1: cash flow positive in twenty twenty six, so I guess 78 00:04:06,080 --> 00:04:08,560 Speaker 1: that's where some of the optimism comes in here. However, 79 00:04:08,640 --> 00:04:11,760 Speaker 1: their CEO said that growth here today was slower than 80 00:04:11,760 --> 00:04:14,680 Speaker 1: they expected and it was pretty abrupt after what happened 81 00:04:14,720 --> 00:04:15,440 Speaker 1: in the past quarter. 82 00:04:17,080 --> 00:04:21,200 Speaker 2: The Stock Movers podcast from Bloomberg Radio check Back with 83 00:04:21,279 --> 00:04:24,040 Speaker 2: us throughout the day. For the latest roundup of companies 84 00:04:24,080 --> 00:04:27,120 Speaker 2: making news on Wall Street, and for the latest market 85 00:04:27,160 --> 00:04:31,560 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 86 00:04:31,560 --> 00:04:34,839 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 87 00:04:34,880 --> 00:04:36,359 Speaker 2: the Bloomberg Business app.