WEBVTT - Constellation Brands Dips; Centene Lower; Verint Possible Acquisition

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers podcast, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg data.

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<v Speaker 1>Well stock Movers, it's a podcast. Here is Lisa Mantail.

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<v Speaker 3>All right, I want to start with Constellation Brands. It's

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<v Speaker 3>Sticker Stz. Their shares have been down as much as

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<v Speaker 3>one percent before the bell A couple things, weaker demand

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<v Speaker 3>for alcohol, higher costs from aluminum tariffs, beer margins. They

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<v Speaker 3>were hit by the twenty five percent tariffs on imported aluminum.

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<v Speaker 3>Think of Modelo right, Corona Wines and spirits, labels like

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<v Speaker 3>Kim Crawford, Cosan, Noble Tequila. They had sales fall by

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<v Speaker 3>twenty eight percent in the quarter. So the company said

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<v Speaker 3>they did a few things. They slowed shipments to kind

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<v Speaker 3>of deal with that week or demand. They also this

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<v Speaker 3>is interesting here, they also decided to pull back among

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<v Speaker 3>Hispanic consumers and they make up more than half of

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<v Speaker 3>Modello drinkers, which I thought was interesting because they have

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<v Speaker 3>concerned about inflation, immigration, job security. So what Consolation is

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<v Speaker 3>trying to do. They're ramping up their marketing to non

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<v Speaker 3>hispatic audiences.

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<v Speaker 1>Is this. I don't mean to interrupt. So you know,

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<v Speaker 1>I was talking to Riley from Saint Louis. She's a

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<v Speaker 1>big fan and she she has the cute little girl cans.

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<v Speaker 1>They're in a refrigerator. Okay, what are they called?

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<v Speaker 3>The little spirits like the Selzer's Selzer's, Yes, that's it.

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<v Speaker 1>Are they that? What's really going on?

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<v Speaker 3>That's also people are drinking Selzer's and said, but they're

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<v Speaker 3>also drinking non more non alcoholic, especially the younger generation,

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<v Speaker 3>and they're turning to alternatives. Some are going to cannabis

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<v Speaker 3>infuse drinks too, instead of the alcohol altogether. And that's

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<v Speaker 3>a big trend. A lot of those alcohol companies that

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<v Speaker 3>have been switching to cannabis. I know, you got to

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<v Speaker 3>get on the train, you know.

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<v Speaker 1>I'm remember Jack Daniels. Sure, how quaint jets.

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<v Speaker 3>Jack and Coke.

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<v Speaker 2>There you go.

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<v Speaker 3>Health insurer Senteen really taking a hit. Their shares have

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<v Speaker 3>been down as much as twenty seven percent. It's ticker

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<v Speaker 3>C and C. So the thing is they pulled their

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<v Speaker 3>twenty twenty five guidance. They said it was due to

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<v Speaker 3>insurance market trends. It's threatening. It's one point eight billion

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<v Speaker 3>dollars in revenue. One particular thing they did mention is

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<v Speaker 3>the adjustment to compensate insurance for taking on seecret patments.

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<v Speaker 3>That actually fell short of what they expected, so that

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<v Speaker 3>was an issue. They also reported a step up in

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<v Speaker 3>Medicaid costs, and they said that's going to increase, you know,

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<v Speaker 3>their medical expenses in the second quarter. But this is

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<v Speaker 3>the second time we've seen this, right, a large insurer

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<v Speaker 3>pulling their forecast. Remember United Health with drew their guidance

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<v Speaker 3>in May. Some analysts said, you know what, we saw

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<v Speaker 3>the writing on the wall with Centen. Jeffries said it

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<v Speaker 3>in an earlier note. You had Barclay's analysts who are

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<v Speaker 3>suggesting that this move suggests, you know, the Affordable Care

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<v Speaker 3>Act marketplace could spiral in twenty twenty six. But it's

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<v Speaker 3>also pushing shares of other health insurance like Evin's Health

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<v Speaker 3>Oscar Health. They're also lower this morning too. On top

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<v Speaker 3>of that new more I do really quickly, I'm call

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<v Speaker 3>center software maker Barrant Warrant Yes take a vr NTVV

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<v Speaker 3>yes V with the V yes take a VRNT. Their

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<v Speaker 3>shares are up nine percents, but yesterday they jumped as

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<v Speaker 3>much as sixteen percent. Bloomberg came out with the story,

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<v Speaker 3>reported that that buyo from Tomorrow Bravos and talks to

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<v Speaker 3>acquire the company, sources saying there's no certainty that this

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<v Speaker 3>will even happen, but both sides didn't say anything, but

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<v Speaker 3>the news does have those shares edging a little bit higher.

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<v Speaker 3>This morning, a Long Island company, Melville Yeah, Melville Yeah. Melville,

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<v Speaker 3>New York based firm.

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