WEBVTT - Cracker Barrel Drops, GameStop Slides, PepsiCo Rises on Ratings Upgrade 

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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 see what's happening in the stock market here some

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<v Speaker 3>stock movers. We do that with Isabelle Lee Isabell. What

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<v Speaker 3>you got for us?

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<v Speaker 1>We'll talk about Crackle Barrel. So ticker is CBRL and

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<v Speaker 1>the stock is fluctuating. It was down as much as

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<v Speaker 1>six percent than it was in the green then now

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<v Speaker 1>it's lower by nearly two percent. So the company expects

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<v Speaker 1>sales to fall faster than forecasts now between three point

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<v Speaker 1>two billion dollars to three point three billion dollars in

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<v Speaker 1>the current fiscal year. So what does this mean? I mean,

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<v Speaker 1>remember earlier this year when the restaurant chain unveiled their

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<v Speaker 1>new logo, and really social media folks were unhappy with it.

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<v Speaker 1>They were saying that they were erasing elements of traditional

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<v Speaker 1>American culture and it was all about Uncle Herschel, who

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<v Speaker 1>I really didn't know who he was. I haven't eaten

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<v Speaker 1>in a cracker barrel.

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<v Speaker 3>See she never wants she think about is well, she

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<v Speaker 3>never gets off this rock of Manhattan and when she does,

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<v Speaker 3>it's the India or the Philippines. I mean none. You

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<v Speaker 3>got to go to get out there and see the country.

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<v Speaker 3>I will try maybe go to a Cracker Brough.

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<v Speaker 1>We can have a field trip.

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<v Speaker 3>Yes, we can do that.

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<v Speaker 1>The company planned updated to dining rooms to give them

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<v Speaker 1>a more modern field maybe just in time for my visit.

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<v Speaker 1>The company posted a loss, including some items. But yes,

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<v Speaker 1>it's Cracker Bill's first loss since the pandemic. So that's

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<v Speaker 1>probably why the stock is now down by two percent.

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<v Speaker 3>Okay, what else we got here?

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<v Speaker 1>Game Stop ticker is GME. So Gameshop recorded lower revenue.

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<v Speaker 1>That's as hardware, accessories and software as sales declined. And

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<v Speaker 1>you know what surge collectibles. I didn't know that GameStop

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<v Speaker 1>had collectibles. I had to google and they're really they

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<v Speaker 1>look like action figures. So they actually increase by fifty percent,

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<v Speaker 1>and they now make up when I say they it's

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<v Speaker 1>collectibles just a third of the overall revenue of game

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<v Speaker 1>Stop and that's up twenty percent from the year prior.

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<v Speaker 1>And we know that game Stop is the original meme stock.

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<v Speaker 1>And now of course they had to buy bitcoin also,

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<v Speaker 1>they bought four thy seven hundred in May and June,

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<v Speaker 1>and they were valued at five hundred million dollars. So

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<v Speaker 1>there is that for a game stop. I feel like

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<v Speaker 1>we've stopped talking about games. I wonder if they regret

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<v Speaker 1>the bitcoin purchase now though, because the few money. Maybe,

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<v Speaker 1>but it depends on your horizon. A lot of the

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<v Speaker 1>people who Buybitclenner, Hoddles, hoddle Earth, hold on to your life,

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<v Speaker 1>hold on to their life.

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<v Speaker 2>Paul the Stock Movers report from Bloomberg Radio. Check back

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<v Speaker 2>companies making news on Wall Street and for the latest

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<v Speaker 2>market moving headlines. Listen to Bloomberg Radio Live, catch us

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