WEBVTT - Chewy Sinks, DoorDash Drops, Relay Therapeutics Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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

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

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<v Speaker 3>Let's take a look at some stocks on the move.

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<v Speaker 3>I'm Carl Masser along with Tim Stenovik. Let's get to

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<v Speaker 3>Bloomberg News Equities reporter Avalon Purnell.

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<v Speaker 4>You can go ahead, get started with Chewy. That's ticker

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<v Speaker 4>c HWY. It's currently falling about nine point one percent. Today.

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<v Speaker 4>It hit its lowest inter day level since twenty twenty four,

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<v Speaker 4>and that's after the pet foods company CEO offered some

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<v Speaker 4>fairly cautious commentary at a JP Morgan conference earlier today.

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<v Speaker 4>He said that while the company still expects its pet

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<v Speaker 4>segment to remain resilient, the company is seeing a more

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<v Speaker 4>stretched consumer currently. And I feel like it's been the

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<v Speaker 4>type of thing that we've been hearing from a lot

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<v Speaker 4>of consumer companies lately.

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<v Speaker 3>We're not buying as many toys. They definitely get their food,

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<v Speaker 3>they get their breath, fashioners and his stiff but puppies

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<v Speaker 3>here's a stick. I'm just gonna say, they're well loved.

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<v Speaker 3>They're well love. Let's move on over from dogs to DoorDash.

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<v Speaker 4>Yes, keeping us badge exactly. It's also falling about three

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<v Speaker 4>point nine percent today. That's after Business Insider reported that

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<v Speaker 4>Walmart's Spark which I wasn't previously aware of. It's their

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<v Speaker 4>delivery service, is now delivering food from restaurants like McDonald's.

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<v Speaker 4>So the delivery space has been really competitive with like

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<v Speaker 4>Uber Eats, grub Hub, and now Walmart is also stepping in.

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<v Speaker 4>So investors are a little bit curious about what exactly

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<v Speaker 4>that will mean for companies like DoorDash.

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<v Speaker 1>Yeah, I didn't know about Spark driver.

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<v Speaker 4>Yeah, it just news to me today as well, maybe

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<v Speaker 4>not as big a news that makes the.

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<v Speaker 3>Three of us, right, yeah, so maybe it's just elsewhere.

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<v Speaker 3>Let's go to a name we don't always talk a

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<v Speaker 3>lot about, but the tickers are lay Yes.

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<v Speaker 4>Relay Therapeutics a much more exciting move earlier. Today, it's

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<v Speaker 4>now only up about eight tenths of a percentage point,

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<v Speaker 4>though earlier it was up as much as thirteen percent.

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<v Speaker 4>That's after a drug maker released data from a midstage

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<v Speaker 4>trial that was quite positive, showing that it's experimental drugs

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<v Speaker 4>it seems to be helping those patients that have a

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<v Speaker 4>rare genetic disorder that impacts their blood vessels development Tdcowen,

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<v Speaker 4>writing that the update is a home run and that

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<v Speaker 4>it could actually mean that there is a new opportunity

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<v Speaker 4>for this drug to treat a very lucrative market.

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<v Speaker 1>All right, So two decliners and a gainer, Yes, all right,

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<v Speaker 1>there we go.

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<v Speaker 3>Are you feeling kind of down today? So going more

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<v Speaker 3>to claims?

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<v Speaker 4>So many decliners in the.

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<v Speaker 1>Market, I know, And that's what's frustrating to me is

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<v Speaker 1>that I'm on gainers today and I got no good stories.

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<v Speaker 1>I'm so sorry. Yeah, it's okay.

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