WEBVTT - Constellation Brands Drops, Olaplex Tumble, Semtech Rises After Earnings

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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

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<v Speaker 3>I want to take some look now at stock's on

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<v Speaker 3>the move today. I'm Alexis Christophers along with Lisa Matteo.

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<v Speaker 3>We're joined by Christina Quino. She is back to look

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<v Speaker 3>at what's moving and maybe a little early for beers

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<v Speaker 3>for some, maybe not, but the maker of Medello Corona

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<v Speaker 3>beers Consolation brands in the news today.

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<v Speaker 1>That's right, Alexi. I mean, you know it's five pm

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<v Speaker 1>somewhere right here you go, but yes, Constellation Brands ticker

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<v Speaker 1>STZ not doing so hot today, shared it down more

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<v Speaker 1>than two percent, and I was extending some of those

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<v Speaker 1>earlier opening declines here. And that is because a City

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<v Speaker 1>opened a negative thirty day catalyst watch on the company

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<v Speaker 1>before its investor conference presentation on September second, So that's

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<v Speaker 1>going to be after Labor Day weekend, and so City

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<v Speaker 1>analyst Filippo Falorni is expecting the company to use the

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<v Speaker 1>conference to lower guidance targets for twenty twenty six, particularly

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<v Speaker 1>for the beer business. Now we know that that business

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<v Speaker 1>has been struggling because of lower consumer demand because of

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<v Speaker 1>the tariffs on aluminum cans. In July, they did report

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<v Speaker 1>first quarter results that trailed expectations, and so analysts are

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<v Speaker 1>expecting that there's going to be bad news next week

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<v Speaker 1>from this company. All right, we go from Consolation Brands

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<v Speaker 1>to Olaplex. So explain who this company is what they

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<v Speaker 1>do nex Yeah, well, you know, they make fancy shampoos

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<v Speaker 1>and they're very famous among TikTok influencers. You know, I've

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<v Speaker 1>ever heard of a olaplex, but like that. This is

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<v Speaker 1>how they they became part of the ze guys.

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<v Speaker 2>But the.

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<v Speaker 3>She keeps us young. I like this, Christine.

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<v Speaker 1>Yeah, let's let's have a look at that later. But yes,

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<v Speaker 1>Oliplex ticker o lp X so shares are down at

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<v Speaker 1>the moment, and that is because, you know, we did

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<v Speaker 1>get announcement of acquisition for this company, per Vala Bioscience,

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<v Speaker 1>So Olipex acquiring this Boston based biotech company that develops

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<v Speaker 1>health and beauty products for the hair and skin. Investors

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<v Speaker 1>are not particularly liking that they've actually extended the declines

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<v Speaker 1>into shares two point six percent now, so not landing

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<v Speaker 1>well with investors. But you know, we have seen a

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<v Speaker 1>lot of volatility in their revenue trends since their IPO

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<v Speaker 1>in twenty twenty one. But you know, we did get

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<v Speaker 1>good news from Olipex Earlier this week. We had analysts

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<v Speaker 1>from Caniqord turning bullish in a company citing their quote

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<v Speaker 1>brand reinvigoration. So I'm sure the TikTok push is part

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<v Speaker 1>of that, but it's not quite landing with investors today

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<v Speaker 1>with shares.

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<v Speaker 3>Down and you've got Semtech, that's what I'm hearing tech Sumtech.

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<v Speaker 1>Yeah, so that's a semiconductor company ticker SMTC. Shares are

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<v Speaker 1>roaring Alexis. They're up more than sixteen percent now, so

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<v Speaker 1>more than doubling some of their opening games there. So

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<v Speaker 1>they reported second quarter results a just a EPs of

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<v Speaker 1>forty one cents, above the consensus forecasts and also way

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<v Speaker 1>above their year and ear of eleven cents. And they're

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<v Speaker 1>also forecasting a third quarter EPs in line with Bloomberg expectations.

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<v Speaker 1>Our Bloomberg Intelligence analysts are saying that their results and

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<v Speaker 1>outlooks suggests quote robust smartphone related revenue growth, so and

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<v Speaker 1>particularly citing strong MyPhone sales. So good news all around

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<v Speaker 1>for a sumtach.

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