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 1: Let's take a look at some stocks on the move today.
Speaker 1: Alexis christoffers looking a myriad of earnings today.
Speaker 3: Myriad is the right word for it. I want to
Speaker 3: start with what I called earlier our loser DuJour, which
Speaker 3: is Mattel. Sorry, Barbie, but this stock is now down
Speaker 3: twenty nine percent pre market. It's price target was lowered
Speaker 3: over at Jeffreys this morning, down to nineteen dollars from
Speaker 3: twenty five dollars a share. So the holiday period, the
Speaker 3: bread and butter right for these companies was disappointing. For Mattel.
Speaker 3: A lot of retailers also offered big promotions that squeezed margins.
Speaker 3: But I think what really is getting investors down is
Speaker 3: its full year guidance. It is considerably lower than expected.
Speaker 3: Remember we had Hasbro a few day is ago. Much
Speaker 3: different story, Yes, uh, you know, much better than expected,
Speaker 3: actually better than next.
Speaker 4: The digital games their house. I think David bigger games.
Speaker 4: That's what I learned yesterday. We spoke to the toy analyst.
Speaker 1: Learning they're moving from Rhode Island. They're moving from Rhode
Speaker 1: Island up to Boston, really okay, and they want to
Speaker 1: get closer to Durgan Parks. The problem here, alexis you
Speaker 1: don't remember this because I grew up in a Barbie
Speaker 1: thon with with with my kids, particularly the middle child.
Speaker 1: And what's important here is Barbie on the go sled
Speaker 1: toboggan was a must have in the house, okay. And
Speaker 1: that's a precursor for Barbie luge. So maybe they'll bounce
Speaker 1: back after the Olympics.
Speaker 3: She's in the Olympics. I didn't I didn't realize, but yeah,
Speaker 3: I used to step on, you know, Barbie heads and
Speaker 3: arms and what have you in my house. And apparently
Speaker 3: that you know, sales are slumping.
Speaker 1: In Mattapoisse at Massachusetts. There's a drive by. It's a
Speaker 1: house where the entire front lawn is Barbie now all year,
Speaker 1: where the snow's piled up. They don't care.
Speaker 3: Mittel loves them.
Speaker 1: It's first good.
Speaker 3: Maybe that they'll send them some free Barbies next, all right,
Speaker 3: lift Oh yes, oh my gosh. Down sixteen percent right now.
Speaker 3: Disappointing forecast A surprise revenue miss. It's still going to
Speaker 3: buy back though a billion dollars up its own stock,
Speaker 3: So confidence I guess in the company there. But it's
Speaker 3: got this global expansion, new product offerings. We saw the
Speaker 3: same thing over at Uber when they're moving away from
Speaker 3: their core business. It seems that investors don't love it,
Speaker 3: and so they're punishing the stock as a result.
Speaker 4: This is a case study for me Uber and lyft
Speaker 4: Ipel about the same time. At that time they were
Speaker 4: kind of the same companies. Boy had those passp diverged.
Speaker 4: Since the IPO lift is six seven eight nine million
Speaker 4: and one hundred plus billion market capture, the revenues eight
Speaker 4: times fifty ish gazillion, it lift is six gazillion. Yeah,
Speaker 4: it's just crazy. I mean, it's like talk about it's
Speaker 4: the version there. All right, Well, so do you.
Speaker 3: Have one more for us?
Speaker 4: I do.
Speaker 3: We've got to talk craft times right down nearly eight
Speaker 3: percent right now. That's on top of its one year
Speaker 3: return of minus sixteen percent. So it's going to pause
Speaker 3: that propose split into two separate companies. Remember it wanted
Speaker 3: to take like its its grocery store staples business. Oscar
Speaker 3: Myers meets lunchables, it wanted to cut that off from
Speaker 3: its faster growing sauces and seasonings business. Warren Buffett didn't
Speaker 3: like that. He actually called the breakup disappointing. Remember he's
Speaker 3: the one who brought the two together in twenty fifteen.
Speaker 3: So Kraft Times as a new CEO, he says he
Speaker 3: sees opportunities ahead. That's CEO speak for Craft Times, where
Speaker 3: he wants to keep them together until he can make
Speaker 3: them strong enough to separate. So he's going to invest
Speaker 3: six hundred million dollars to turn the group around. Of course,
Speaker 3: this is the company behind Hines Ketchup and Philadelphia Cream Cheese,
Speaker 3: so we'll see if it works. But there's an analyst
Speaker 3: over at td cowan Robert Moscow. He says this indicates
Speaker 3: the business not strong enough to operate on a standalone basis,
Speaker 3: so we'll have to see when investors get on board
Speaker 3: with this planned to split into two.
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