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: Well, let's take a look at some stocks on the
Speaker 3: move today. I'm Emli GRIFFEO with Tim Stenovic, and we're
Speaker 3: joined by Bloomberg News Equities reporter Carmen Reinikey okay. Target.
Speaker 3: That was like the big the Big Earth was bonanza.
Speaker 3: Everyone was supposed to be watching it and what happened.
Speaker 4: Yeah, So shares of Target ticker TGT. They ended the
Speaker 4: day down six point three percent. This is the worst
Speaker 4: day since April had early tariff trough. So really wasn't
Speaker 4: even about the earnings the reason that the stock sold
Speaker 4: off so much today. So Target's been in sort of
Speaker 4: the midst of a turnaround for some time, and they
Speaker 4: are replacing their CEO in their naming their current COO,
Speaker 4: Michael Fiddlekey to succeed. And investors and analysts were clearly
Speaker 4: hoping for an outsider here. They think that someone who's,
Speaker 4: you know, an insider to the company who's been there
Speaker 4: for a long time. I think he's been there over
Speaker 4: twenty years. They think that there won't be as quick
Speaker 4: of a catalyst for change as some people were hoping.
Speaker 4: So I think that really was what drove more of
Speaker 4: the stock sell off today than the actual workings report.
Speaker 1: On his part, fiddle Key said in an internal meeting
Speaker 1: on Wednesday, shortly after he was announced as the company's
Speaker 1: next leader, quote, there are no shortage of critics out
Speaker 1: there today. The way to prove those critics wrong is
Speaker 1: with action that leads to results. He's got a tough
Speaker 1: task ahead of him.
Speaker 4: Yeah, he really does. And I mean we've seen a
Speaker 4: lot of I think, like CEOs being moved around this year.
Speaker 4: There was a great piece out I think today or
Speaker 4: yesterday about the price of you know, having a new CEO.
Speaker 1: So yeah, Matt Boyle and the team writing that story,
Speaker 1: I encourage you to check it out on the Bloomberg
Speaker 1: terminal and at Bloomberg dot com.
Speaker 4: Something we're all watching and think thinking about a lot.
Speaker 3: Maybe he'll bring the popcorn back a target.
Speaker 1: Remember when they know I have no idea what you're
Speaker 1: talking about.
Speaker 4: We didn't have this at my target.
Speaker 1: Oh really, are you sure you're talking about Target and
Speaker 1: not like the local Ace hardware store.
Speaker 3: Because that is very Connecticut. Target used to have oh, Stanford, Connecticut.
Speaker 1: Okay, that makes.
Speaker 3: Sense, Like the whole Target smell like popcorn, and I
Speaker 3: don't know that was a while ago. Okay, Well, TJ Max,
Speaker 3: they don't have popworn or I can't believe it.
Speaker 1: No, we didn't have that.
Speaker 3: That was like a effect. I guess. Okay, TJ Max,
Speaker 3: take your ts JX.
Speaker 4: So the tale of two consumer stocks today. TJ Max
Speaker 4: ended the day up two point seven percent. This is
Speaker 4: the highest sense nineteen eighty probably on record for the company. Basically,
Speaker 4: they they saw that, you know, a more cautious consumer
Speaker 4: is boosting you know, sort of their their sales because
Speaker 4: they're a discount retailer. So this this company owns both
Speaker 4: TJ Max and Marshalls. They raised their fullyer earnings per
Speaker 4: share outlook and people liked it.
Speaker 3: And people are maybe going and hard hunting for bargains.
Speaker 1: Not popcorn popcorn.
Speaker 3: Maybe you can get discount of popcorn. It TJ Max.
Speaker 1: There's another company, a retailer out with earnings after the
Speaker 1: bell today. Well, I guess I can't say retailer, but
Speaker 1: retail adjacent, provider adjacent.
Speaker 4: So what we're talking about is cot tick er c
Speaker 4: o t Y shares are down twelve percent and after
Speaker 4: hours trading today, they just released their earnings report. Basically,
Speaker 4: they reported a wider than expected loss, so an adjusta
Speaker 4: lost per share of five cents, where the expectation was
Speaker 4: for a profit of over a one cent. So Cody
Speaker 4: owns like a bunch of makeup brands. So the one
Speaker 4: that I really know is Kylie Cosmetics, but then they
Speaker 4: also have a lot of sort of like luxury brands
Speaker 4: like Gucci, I think, Escada, and then some I think
Speaker 4: some more.
Speaker 3: Like cover Girl, Yeah, exact stort brands too. Yeah, so.
Speaker 4: I think what they're seeing they also actually highlighted tariffs
Speaker 4: that they're seeing a more cautious consumer. They also think
Speaker 4: are trying to sell off their high end perfume brands.
Speaker 4: So they're sort of in the middle of a lot
Speaker 4: right now.
Speaker 1: At KOT, I was in an airport last week. I
Speaker 1: don't even I took a lot of flights last week,
Speaker 1: so I don't even know which airport it was. It
Speaker 1: could have been Atlanta, could have been New York. There
Speaker 1: was a Highlie Cosmetics vending machine in the airport.
Speaker 3: I've seen photos of that. Yeah, this has actually been
Speaker 3: a thing.
Speaker 4: For a long time.
Speaker 1: Oh okay, look through my phone when I'm at the airport,
Speaker 1: purchased from one.
Speaker 4: But yeah, you do see them.
Speaker 3: I guess you're in the airport you're like, oh my god,
Speaker 3: I need a lipliner right now to get on the plane.
Speaker 4: Maybe they took it from you at you know, at
Speaker 4: the sity.
Speaker 3: They're like, I need it.
Speaker 2: The Stock Mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.