WEBVTT - Tapestry Falls, Deere Slides, Cisco Drops After Cautious Forecast

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

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<v Speaker 2>The Stock Movers Report, 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 3>Let's take a look at some of the stocks that

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<v Speaker 3>are on the move today on Paul Sweeney alongside Lisa Matteo.

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<v Speaker 3>We're joined by Bloomberg Red Brown Red. What are you

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<v Speaker 3>looking at today?

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<v Speaker 1>Yeah, and first on my radar today is a Tapestry.

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<v Speaker 1>They are the worst performing stock in the SP five

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<v Speaker 1>hundred right now. That's the owner of Coach and Kate

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<v Speaker 1>Spade shares her down around seventeen percent, and that's the

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<v Speaker 1>steepest inter day drop since August of twenty twenty three.

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<v Speaker 1>So that's really coming off the back of company issuing

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<v Speaker 1>a new annual earnings per share forecast that came in

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<v Speaker 1>below the high end the high end, excuse me haying

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<v Speaker 1>below what with consentences was expecting. That new outlook includes

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<v Speaker 1>sixty sixty cent per share impact from tariffs, probably a

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<v Speaker 1>little bit more than what Wall Street was expecting. Company

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<v Speaker 1>is doing. It has had a great year, up around

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<v Speaker 1>seventy percent prior to today, but this kind of backs

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<v Speaker 1>it down below the fifty percent range now for the

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<v Speaker 1>year date returns, and.

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<v Speaker 3>It was like Kate Spade was not doing well for

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<v Speaker 3>at all.

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<v Speaker 1>Okay, let's go to the world biggest farm machinery maker, Deer. Yes, Deer,

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<v Speaker 1>another one in the red this morning, another one due

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<v Speaker 1>to the lowered full year outlook for profits falling around

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<v Speaker 1>six percent right now. At the moment was down around

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<v Speaker 1>eight percent, so pairing a little bit of the losses.

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<v Speaker 1>It's the worst inter day move since earlier this year,

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<v Speaker 1>since April, so around the time when we first got

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<v Speaker 1>the tariffs announced, and that is kind of a still

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<v Speaker 1>kind of a lingering issue for the company, but this

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<v Speaker 1>time it's just impacting the way that farmers are buying machinery.

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<v Speaker 1>There's just this kind of lower sentiment among farmers right

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<v Speaker 1>now that is having them delay and be cautious around

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<v Speaker 1>some of these bigger expenses for them. Add on that,

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<v Speaker 1>some of the pricing that's falling for for grain, livestock

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<v Speaker 1>prices are down and that's really weighing on the demand

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<v Speaker 1>for some of Deer's bigger equipment at the moment, and that.

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<v Speaker 3>Liigns with what we heard yesterday on this program. We

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<v Speaker 3>spoke to Brian Hefti, who is a farmer in South Dakota,

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<v Speaker 3>and we're talking to him just about the state of

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<v Speaker 3>the farmer, and he says it's tough out there because

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<v Speaker 3>crop prices are down, commodity prices are down, but his

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<v Speaker 3>costs arising, fertilizer, labor costs, even the interest rates hurt

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<v Speaker 3>because they're all indebted. So tough times out there for

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<v Speaker 3>the American farmer. Hopefully commodity prices will turn turn around here.

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<v Speaker 3>How about Cisco.

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<v Speaker 1>Yeah, Cisco the kind of the big one for today.

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<v Speaker 1>It is kind of flat at the moment. Shares word

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<v Speaker 1>down around four percent at the open. The move comes

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<v Speaker 1>after the you know, it offered its new official year

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<v Speaker 1>revenue guidance looking around sixty billion dollars at the high

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<v Speaker 1>end for the full year, and some analysts we're looking

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<v Speaker 1>around for sixty one billion. I think, you know, with

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<v Speaker 1>any company that has you know, mentioned that it will

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<v Speaker 1>have some AI exposure that becomes a little bit increased expectations,

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<v Speaker 1>higher optimism. So this may be just disappointed slightly. Again,

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<v Speaker 1>shares are kind of flat at the moment, so we'll

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<v Speaker 1>see how this plays out. It did report that they

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<v Speaker 1>had one billion dollars in sales related to AI for

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<v Speaker 1>last year. Maybe that's not enough for some people to

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<v Speaker 1>kind of jump into the stock at the moment.

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<v Speaker 3>You know.

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<v Speaker 1>Couple that with a little bit of concerns around how

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<v Speaker 1>competitive the space is becoming a broadcom Culett Packard also

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<v Speaker 1>kind of taking aim in the same markets, and maybe

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<v Speaker 1>that that has kind of dampered some of the optimism

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<v Speaker 1>around Cisco.

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<v Speaker 2>This Stock Movers report from Bloomberg Radio. Check back with

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