1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:18,239 --> 00:00:20,640 Speaker 1: That's Carol Masser. I'm Tim Sanovic. Let's take a look 5 00:00:20,640 --> 00:00:22,520 Speaker 1: at some stocks that are on the move today. We 6 00:00:22,560 --> 00:00:27,000 Speaker 1: are joined by Bloomberg News Aquadi's reporter Carmen Rhyanicky Carmen, 7 00:00:27,120 --> 00:00:29,720 Speaker 1: no shortage of stock to choose from today. 8 00:00:30,040 --> 00:00:32,320 Speaker 3: Yeah, Tim, that's definitely true. And the first one that 9 00:00:32,360 --> 00:00:36,280 Speaker 3: I was looking at today was Smucker ticker SJM. Shares 10 00:00:36,320 --> 00:00:38,800 Speaker 3: fell sixteen percent. This was the worst one day drop 11 00:00:38,840 --> 00:00:42,519 Speaker 3: since at least nineteen eighty eight. The company reported it 12 00:00:42,680 --> 00:00:46,199 Speaker 3: that US tariffs are increasing costs in its coffee business. 13 00:00:46,360 --> 00:00:51,519 Speaker 3: It owns Folgers and Cafe Bustello, and the company generated 14 00:00:51,520 --> 00:00:53,800 Speaker 3: about a third of its revenue from coffee in the 15 00:00:53,880 --> 00:00:58,240 Speaker 3: last fiscal year, so increasing costs are hurting the business. 16 00:00:58,560 --> 00:01:02,440 Speaker 3: It's already increase it's coffee prices three times since last 17 00:01:02,520 --> 00:01:05,920 Speaker 3: June and expects to have to raise them again in August. 18 00:01:06,120 --> 00:01:10,000 Speaker 3: So demand is likely to take a hit from that. 19 00:01:10,080 --> 00:01:12,160 Speaker 3: And this really sent shares tumbling. 20 00:01:13,800 --> 00:01:15,640 Speaker 4: Down sixteen percent. 21 00:01:16,800 --> 00:01:19,320 Speaker 1: John Tucker described it as smuckers being in a jam. 22 00:01:21,080 --> 00:01:21,959 Speaker 1: I don't know if you heard that. 23 00:01:22,160 --> 00:01:24,880 Speaker 4: I missed that, but I think they also talked is 24 00:01:24,920 --> 00:01:26,560 Speaker 4: it Smuckers that does Folgers or yeah? 25 00:01:26,600 --> 00:01:27,800 Speaker 1: Folders and Kathy Bustello. 26 00:01:27,959 --> 00:01:30,280 Speaker 4: I heard Alex Steele some really. 27 00:01:30,800 --> 00:01:35,000 Speaker 1: Yeah, she said her grandma drinks. Alex lives in Brooklyn though, 28 00:01:35,000 --> 00:01:38,040 Speaker 1: where Cafe Bustello used to be like a hipster saving 29 00:01:38,120 --> 00:01:39,959 Speaker 1: totally dissed. Yeah, I don't know. 30 00:01:40,120 --> 00:01:42,000 Speaker 4: I have to say, Okay, maybe I'm gonna date myself. 31 00:01:42,000 --> 00:01:43,720 Speaker 4: But in college I used a lot of it. It 32 00:01:43,760 --> 00:01:46,840 Speaker 4: was just it wasn't a huge coffee maker. I mean, 33 00:01:46,880 --> 00:01:49,880 Speaker 4: coffee has become an institution, all right, Carmen, we digressed. 34 00:01:50,200 --> 00:01:53,400 Speaker 1: I say, I was going to say poor Carmon's. Yeah, okay, 35 00:01:53,400 --> 00:01:57,880 Speaker 1: well let's move on to McDonald's. Carmen another consumable, Yeah donald's. 36 00:01:58,320 --> 00:02:01,600 Speaker 3: McDonald's chairs were down just over one percent today, but 37 00:02:02,200 --> 00:02:05,480 Speaker 3: the had falling for the seventh consecutive day in a row, 38 00:02:05,520 --> 00:02:09,000 Speaker 3: which is the worst streak of losses since twenty thirteen 39 00:02:09,040 --> 00:02:12,720 Speaker 3: for the stock. And what happened was this morning analysts 40 00:02:12,840 --> 00:02:19,000 Speaker 3: at Redburn Atlantic downgraded the stock to sell from buy, 41 00:02:19,080 --> 00:02:24,120 Speaker 3: so there was a double downgrade, basically saying that shifting 42 00:02:24,520 --> 00:02:27,960 Speaker 3: consumer patterns due to weight loss, drugs, so GLP ones 43 00:02:28,240 --> 00:02:31,200 Speaker 3: and inflation are caused for concern for the burger chain. 44 00:02:32,320 --> 00:02:35,200 Speaker 3: This is I think the first or the only buy 45 00:02:35,320 --> 00:02:38,480 Speaker 3: rate or sorry, the only celerating the McDonald's currently has. 46 00:02:38,600 --> 00:02:41,880 Speaker 3: It's generally really loved by Wall Street and it's also 47 00:02:41,880 --> 00:02:44,840 Speaker 3: certainly one to watch if you're thinking about, you know, 48 00:02:45,400 --> 00:02:48,960 Speaker 3: consumers and how they're spending. 49 00:02:51,440 --> 00:02:53,960 Speaker 4: People were concerned that that might start to play out. 50 00:02:54,280 --> 00:02:56,600 Speaker 4: I will say I recently had some McDonald's fries. I 51 00:02:56,680 --> 00:02:59,600 Speaker 4: was kind of on the road. I was late for dinner. 52 00:03:00,040 --> 00:03:01,480 Speaker 1: You've been on the road for the last month ago, 53 00:03:01,680 --> 00:03:05,960 Speaker 1: right now, Carmen, this is on our radar today. 54 00:03:05,840 --> 00:03:08,600 Speaker 3: So our reporting is, you know what is moving the 55 00:03:08,639 --> 00:03:11,360 Speaker 3: market today. So new Core has extended its gains and 56 00:03:11,440 --> 00:03:15,240 Speaker 3: after hours trading the stock is down now more than 57 00:03:15,280 --> 00:03:19,520 Speaker 3: six percent after the report that US in Mexico are 58 00:03:19,639 --> 00:03:23,760 Speaker 3: near nearing a deal to cut steel duties and cap imports. 59 00:03:24,360 --> 00:03:27,200 Speaker 3: Shares of Cleveland Cliffs have also really extended gains. They're 60 00:03:27,280 --> 00:03:31,240 Speaker 3: down more than nine percent here in after hours. I mean, 61 00:03:31,280 --> 00:03:33,360 Speaker 3: both of these companies stocks are down here to date, 62 00:03:33,400 --> 00:03:38,000 Speaker 3: They've gotten really beat up this year. I think with 63 00:03:38,080 --> 00:03:41,000 Speaker 3: all of the trade war back and forth and are really, 64 00:03:41,160 --> 00:03:44,640 Speaker 3: you know, investors are really responding negatively to this news, 65 00:03:44,640 --> 00:03:47,520 Speaker 3: although I think it's still kind of uncertain, so definitely 66 00:03:47,520 --> 00:03:49,760 Speaker 3: one that we'll still be watching in the morning. 67 00:03:51,240 --> 00:03:55,360 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 68 00:03:55,440 --> 00:03:58,200 Speaker 2: us throughout the day for the latest roundup of companies 69 00:03:58,240 --> 00:04:01,280 Speaker 2: making news on Wall Street and for the latest market 70 00:04:01,320 --> 00:04:05,680 Speaker 2: moving headlines. 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