Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I want to take some look now at stock's on
Speaker 3: the move today. I'm Alexis Christophers along with Lisa Matteo.
Speaker 3: We're joined by Christina Quino. She is back to look
Speaker 3: at what's moving and maybe a little early for beers
Speaker 3: for some, maybe not, but the maker of Medello Corona
Speaker 3: beers Consolation brands in the news today.
Speaker 1: That's right, Alexi. I mean, you know it's five pm
Speaker 1: somewhere right here you go, but yes, Constellation Brands ticker
Speaker 1: STZ not doing so hot today, shared it down more
Speaker 1: than two percent, and I was extending some of those
Speaker 1: earlier opening declines here. And that is because a City
Speaker 1: opened a negative thirty day catalyst watch on the company
Speaker 1: before its investor conference presentation on September second, So that's
Speaker 1: going to be after Labor Day weekend, and so City
Speaker 1: analyst Filippo Falorni is expecting the company to use the
Speaker 1: conference to lower guidance targets for twenty twenty six, particularly
Speaker 1: for the beer business. Now we know that that business
Speaker 1: has been struggling because of lower consumer demand because of
Speaker 1: the tariffs on aluminum cans. In July, they did report
Speaker 1: first quarter results that trailed expectations, and so analysts are
Speaker 1: expecting that there's going to be bad news next week
Speaker 1: from this company. All right, we go from Consolation Brands
Speaker 1: to Olaplex. So explain who this company is what they
Speaker 1: do nex Yeah, well, you know, they make fancy shampoos
Speaker 1: and they're very famous among TikTok influencers. You know, I've
Speaker 1: ever heard of a olaplex, but like that. This is
Speaker 1: how they they became part of the ze guys.
Speaker 2: But the.
Speaker 3: She keeps us young. I like this, Christine.
Speaker 1: Yeah, let's let's have a look at that later. But yes,
Speaker 1: Oliplex ticker o lp X so shares are down at
Speaker 1: the moment, and that is because, you know, we did
Speaker 1: get announcement of acquisition for this company, per Vala Bioscience,
Speaker 1: So Olipex acquiring this Boston based biotech company that develops
Speaker 1: health and beauty products for the hair and skin. Investors
Speaker 1: are not particularly liking that they've actually extended the declines
Speaker 1: into shares two point six percent now, so not landing
Speaker 1: well with investors. But you know, we have seen a
Speaker 1: lot of volatility in their revenue trends since their IPO
Speaker 1: in twenty twenty one. But you know, we did get
Speaker 1: good news from Olipex Earlier this week. We had analysts
Speaker 1: from Caniqord turning bullish in a company citing their quote
Speaker 1: brand reinvigoration. So I'm sure the TikTok push is part
Speaker 1: of that, but it's not quite landing with investors today
Speaker 1: with shares.
Speaker 3: Down and you've got Semtech, that's what I'm hearing tech Sumtech.
Speaker 1: Yeah, so that's a semiconductor company ticker SMTC. Shares are
Speaker 1: roaring Alexis. They're up more than sixteen percent now, so
Speaker 1: more than doubling some of their opening games there. So
Speaker 1: they reported second quarter results a just a EPs of
Speaker 1: forty one cents, above the consensus forecasts and also way
Speaker 1: above their year and ear of eleven cents. And they're
Speaker 1: also forecasting a third quarter EPs in line with Bloomberg expectations.
Speaker 1: Our Bloomberg Intelligence analysts are saying that their results and
Speaker 1: outlooks suggests quote robust smartphone related revenue growth, so and
Speaker 1: particularly citing strong MyPhone sales. So good news all around
Speaker 1: for a sumtach.
Speaker 2: Here the Stock Movers Report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto with the Bloomberg Business app.