1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,320 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,640 --> 00:00:18,600 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:18,640 --> 00:00:21,720 Speaker 3: move today. I'm Emli GRIFFEO with Tim Stenovic, and we're 6 00:00:21,760 --> 00:00:25,880 Speaker 3: joined by Bloomberg News Equities reporter Carmen Reinikey okay. Target. 7 00:00:26,120 --> 00:00:29,960 Speaker 3: That was like the big the Big Earth was bonanza. 8 00:00:30,000 --> 00:00:32,120 Speaker 3: Everyone was supposed to be watching it and what happened. 9 00:00:32,200 --> 00:00:36,839 Speaker 4: Yeah, So shares of Target ticker TGT. They ended the 10 00:00:36,920 --> 00:00:39,360 Speaker 4: day down six point three percent. This is the worst 11 00:00:39,440 --> 00:00:43,760 Speaker 4: day since April had early tariff trough. So really wasn't 12 00:00:43,760 --> 00:00:46,680 Speaker 4: even about the earnings the reason that the stock sold 13 00:00:46,720 --> 00:00:49,879 Speaker 4: off so much today. So Target's been in sort of 14 00:00:49,880 --> 00:00:52,440 Speaker 4: the midst of a turnaround for some time, and they 15 00:00:52,560 --> 00:00:56,880 Speaker 4: are replacing their CEO in their naming their current COO, 16 00:00:57,120 --> 00:01:03,960 Speaker 4: Michael Fiddlekey to succeed. And investors and analysts were clearly 17 00:01:04,000 --> 00:01:07,440 Speaker 4: hoping for an outsider here. They think that someone who's, 18 00:01:07,520 --> 00:01:09,400 Speaker 4: you know, an insider to the company who's been there 19 00:01:09,440 --> 00:01:11,080 Speaker 4: for a long time. I think he's been there over 20 00:01:11,160 --> 00:01:15,920 Speaker 4: twenty years. They think that there won't be as quick 21 00:01:16,040 --> 00:01:18,800 Speaker 4: of a catalyst for change as some people were hoping. 22 00:01:18,880 --> 00:01:21,360 Speaker 4: So I think that really was what drove more of 23 00:01:21,400 --> 00:01:23,840 Speaker 4: the stock sell off today than the actual workings report. 24 00:01:24,319 --> 00:01:26,800 Speaker 1: On his part, fiddle Key said in an internal meeting 25 00:01:26,800 --> 00:01:29,080 Speaker 1: on Wednesday, shortly after he was announced as the company's 26 00:01:29,080 --> 00:01:32,400 Speaker 1: next leader, quote, there are no shortage of critics out 27 00:01:32,440 --> 00:01:35,399 Speaker 1: there today. The way to prove those critics wrong is 28 00:01:35,440 --> 00:01:38,560 Speaker 1: with action that leads to results. He's got a tough 29 00:01:38,560 --> 00:01:39,319 Speaker 1: task ahead of him. 30 00:01:39,400 --> 00:01:41,560 Speaker 4: Yeah, he really does. And I mean we've seen a 31 00:01:41,600 --> 00:01:44,800 Speaker 4: lot of I think, like CEOs being moved around this year. 32 00:01:44,840 --> 00:01:47,040 Speaker 4: There was a great piece out I think today or 33 00:01:47,120 --> 00:01:50,520 Speaker 4: yesterday about the price of you know, having a new CEO. 34 00:01:50,560 --> 00:01:52,600 Speaker 1: So yeah, Matt Boyle and the team writing that story, 35 00:01:52,600 --> 00:01:54,040 Speaker 1: I encourage you to check it out on the Bloomberg 36 00:01:54,120 --> 00:01:55,559 Speaker 1: terminal and at Bloomberg dot com. 37 00:01:55,560 --> 00:01:57,680 Speaker 4: Something we're all watching and think thinking about a lot. 38 00:01:57,960 --> 00:02:00,000 Speaker 3: Maybe he'll bring the popcorn back a target. 39 00:02:00,080 --> 00:02:02,000 Speaker 1: Remember when they know I have no idea what you're 40 00:02:02,040 --> 00:02:02,440 Speaker 1: talking about. 41 00:02:02,440 --> 00:02:03,440 Speaker 4: We didn't have this at my target. 42 00:02:04,120 --> 00:02:06,000 Speaker 1: Oh really, are you sure you're talking about Target and 43 00:02:06,040 --> 00:02:07,720 Speaker 1: not like the local Ace hardware store. 44 00:02:07,760 --> 00:02:14,680 Speaker 3: Because that is very Connecticut. Target used to have oh, Stanford, Connecticut. 45 00:02:14,720 --> 00:02:16,280 Speaker 1: Okay, that makes. 46 00:02:16,040 --> 00:02:18,959 Speaker 3: Sense, Like the whole Target smell like popcorn, and I 47 00:02:18,960 --> 00:02:22,360 Speaker 3: don't know that was a while ago. Okay, Well, TJ Max, 48 00:02:22,800 --> 00:02:24,720 Speaker 3: they don't have popworn or I can't believe it. 49 00:02:24,800 --> 00:02:25,640 Speaker 1: No, we didn't have that. 50 00:02:25,639 --> 00:02:28,800 Speaker 3: That was like a effect. I guess. Okay, TJ Max, 51 00:02:28,840 --> 00:02:30,560 Speaker 3: take your ts JX. 52 00:02:30,560 --> 00:02:34,120 Speaker 4: So the tale of two consumer stocks today. TJ Max 53 00:02:35,200 --> 00:02:37,360 Speaker 4: ended the day up two point seven percent. This is 54 00:02:37,440 --> 00:02:42,119 Speaker 4: the highest sense nineteen eighty probably on record for the company. Basically, 55 00:02:42,240 --> 00:02:46,040 Speaker 4: they they saw that, you know, a more cautious consumer 56 00:02:46,240 --> 00:02:49,320 Speaker 4: is boosting you know, sort of their their sales because 57 00:02:49,320 --> 00:02:52,240 Speaker 4: they're a discount retailer. So this this company owns both 58 00:02:52,280 --> 00:02:56,960 Speaker 4: TJ Max and Marshalls. They raised their fullyer earnings per 59 00:02:56,960 --> 00:02:59,679 Speaker 4: share outlook and people liked it. 60 00:03:00,320 --> 00:03:06,120 Speaker 3: And people are maybe going and hard hunting for bargains. 61 00:03:04,720 --> 00:03:06,840 Speaker 1: Not popcorn popcorn. 62 00:03:07,240 --> 00:03:10,040 Speaker 3: Maybe you can get discount of popcorn. It TJ Max. 63 00:03:10,480 --> 00:03:13,920 Speaker 1: There's another company, a retailer out with earnings after the 64 00:03:14,120 --> 00:03:16,960 Speaker 1: bell today. Well, I guess I can't say retailer, but 65 00:03:17,040 --> 00:03:20,160 Speaker 1: retail adjacent, provider adjacent. 66 00:03:20,200 --> 00:03:22,200 Speaker 4: So what we're talking about is cot tick er c 67 00:03:22,440 --> 00:03:25,240 Speaker 4: o t Y shares are down twelve percent and after 68 00:03:25,320 --> 00:03:29,800 Speaker 4: hours trading today, they just released their earnings report. Basically, 69 00:03:29,880 --> 00:03:33,360 Speaker 4: they reported a wider than expected loss, so an adjusta 70 00:03:33,400 --> 00:03:35,840 Speaker 4: lost per share of five cents, where the expectation was 71 00:03:35,960 --> 00:03:40,480 Speaker 4: for a profit of over a one cent. So Cody 72 00:03:40,560 --> 00:03:42,960 Speaker 4: owns like a bunch of makeup brands. So the one 73 00:03:42,960 --> 00:03:45,160 Speaker 4: that I really know is Kylie Cosmetics, but then they 74 00:03:45,200 --> 00:03:49,200 Speaker 4: also have a lot of sort of like luxury brands 75 00:03:49,200 --> 00:03:52,200 Speaker 4: like Gucci, I think, Escada, and then some I think 76 00:03:52,240 --> 00:03:52,800 Speaker 4: some more. 77 00:03:52,640 --> 00:03:56,520 Speaker 3: Like cover Girl, Yeah, exact stort brands too. Yeah, so. 78 00:03:58,720 --> 00:04:03,680 Speaker 4: I think what they're seeing they also actually highlighted tariffs 79 00:04:04,000 --> 00:04:07,400 Speaker 4: that they're seeing a more cautious consumer. They also think 80 00:04:07,440 --> 00:04:12,200 Speaker 4: are trying to sell off their high end perfume brands. 81 00:04:12,200 --> 00:04:13,920 Speaker 4: So they're sort of in the middle of a lot 82 00:04:14,200 --> 00:04:14,560 Speaker 4: right now. 83 00:04:14,560 --> 00:04:17,240 Speaker 1: At KOT, I was in an airport last week. I 84 00:04:17,240 --> 00:04:19,280 Speaker 1: don't even I took a lot of flights last week, 85 00:04:19,279 --> 00:04:21,359 Speaker 1: so I don't even know which airport it was. It 86 00:04:21,360 --> 00:04:23,560 Speaker 1: could have been Atlanta, could have been New York. There 87 00:04:23,600 --> 00:04:26,760 Speaker 1: was a Highlie Cosmetics vending machine in the airport. 88 00:04:26,839 --> 00:04:29,600 Speaker 3: I've seen photos of that. Yeah, this has actually been 89 00:04:29,600 --> 00:04:29,920 Speaker 3: a thing. 90 00:04:29,839 --> 00:04:30,479 Speaker 4: For a long time. 91 00:04:30,560 --> 00:04:34,719 Speaker 1: Oh okay, look through my phone when I'm at the airport, 92 00:04:34,839 --> 00:04:35,680 Speaker 1: purchased from one. 93 00:04:35,720 --> 00:04:37,159 Speaker 4: But yeah, you do see them. 94 00:04:37,400 --> 00:04:39,080 Speaker 3: I guess you're in the airport you're like, oh my god, 95 00:04:39,360 --> 00:04:42,400 Speaker 3: I need a lipliner right now to get on the plane. 96 00:04:42,839 --> 00:04:46,080 Speaker 4: Maybe they took it from you at you know, at 97 00:04:46,080 --> 00:04:46,800 Speaker 4: the sity. 98 00:04:47,000 --> 00:04:48,360 Speaker 3: They're like, I need it. 99 00:04:51,120 --> 00:04:55,160 Speaker 2: The Stock Mover's report from Bloomberg Radio. 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