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: Let's take a look at some of the stocks that
Speaker 3: are on the move today on Paul Sweeney alongside Lisa Matteo.
Speaker 3: We're joined by Bloomberg Red Brown Red. What are you
Speaker 3: looking at today?
Speaker 1: Yeah, and first on my radar today is a Tapestry.
Speaker 1: They are the worst performing stock in the SP five
Speaker 1: hundred right now. That's the owner of Coach and Kate
Speaker 1: Spade shares her down around seventeen percent, and that's the
Speaker 1: steepest inter day drop since August of twenty twenty three.
Speaker 1: So that's really coming off the back of company issuing
Speaker 1: a new annual earnings per share forecast that came in
Speaker 1: below the high end the high end, excuse me haying
Speaker 1: below what with consentences was expecting. That new outlook includes
Speaker 1: sixty sixty cent per share impact from tariffs, probably a
Speaker 1: little bit more than what Wall Street was expecting. Company
Speaker 1: is doing. It has had a great year, up around
Speaker 1: seventy percent prior to today, but this kind of backs
Speaker 1: it down below the fifty percent range now for the
Speaker 1: year date returns, and.
Speaker 3: It was like Kate Spade was not doing well for
Speaker 3: at all.
Speaker 1: Okay, let's go to the world biggest farm machinery maker, Deer. Yes, Deer,
Speaker 1: another one in the red this morning, another one due
Speaker 1: to the lowered full year outlook for profits falling around
Speaker 1: six percent right now. At the moment was down around
Speaker 1: eight percent, so pairing a little bit of the losses.
Speaker 1: It's the worst inter day move since earlier this year,
Speaker 1: since April, so around the time when we first got
Speaker 1: the tariffs announced, and that is kind of a still
Speaker 1: kind of a lingering issue for the company, but this
Speaker 1: time it's just impacting the way that farmers are buying machinery.
Speaker 1: There's just this kind of lower sentiment among farmers right
Speaker 1: now that is having them delay and be cautious around
Speaker 1: some of these bigger expenses for them. Add on that,
Speaker 1: some of the pricing that's falling for for grain, livestock
Speaker 1: prices are down and that's really weighing on the demand
Speaker 1: for some of Deer's bigger equipment at the moment, and that.
Speaker 3: Liigns with what we heard yesterday on this program. We
Speaker 3: spoke to Brian Hefti, who is a farmer in South Dakota,
Speaker 3: and we're talking to him just about the state of
Speaker 3: the farmer, and he says it's tough out there because
Speaker 3: crop prices are down, commodity prices are down, but his
Speaker 3: costs arising, fertilizer, labor costs, even the interest rates hurt
Speaker 3: because they're all indebted. So tough times out there for
Speaker 3: the American farmer. Hopefully commodity prices will turn turn around here.
Speaker 3: How about Cisco.
Speaker 1: Yeah, Cisco the kind of the big one for today.
Speaker 1: It is kind of flat at the moment. Shares word
Speaker 1: down around four percent at the open. The move comes
Speaker 1: after the you know, it offered its new official year
Speaker 1: revenue guidance looking around sixty billion dollars at the high
Speaker 1: end for the full year, and some analysts we're looking
Speaker 1: around for sixty one billion. I think, you know, with
Speaker 1: any company that has you know, mentioned that it will
Speaker 1: have some AI exposure that becomes a little bit increased expectations,
Speaker 1: higher optimism. So this may be just disappointed slightly. Again,
Speaker 1: shares are kind of flat at the moment, so we'll
Speaker 1: see how this plays out. It did report that they
Speaker 1: had one billion dollars in sales related to AI for
Speaker 1: last year. Maybe that's not enough for some people to
Speaker 1: kind of jump into the stock at the moment.
Speaker 3: You know.
Speaker 1: Couple that with a little bit of concerns around how
Speaker 1: competitive the space is becoming a broadcom Culett Packard also
Speaker 1: kind of taking aim in the same markets, and maybe
Speaker 1: that that has kind of dampered some of the optimism
Speaker 1: around Cisco.
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