Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, the Stock Movers podcast.
Speaker 1: This is your roundup of companies making news on Wall
Speaker 1: Street and beyond. Harnessing the power of Bloomberg Data. Let's
Speaker 1: take a look at some of the stocks on the
Speaker 1: move today, and with that, here's Bloomberg News Equities reporter
Speaker 1: Billy Lipsheltz with Thursday's stock Movers. Where shall we begin, Bailly.
Speaker 2: You'll start with the center, maybe a little bit of
Speaker 2: calling out some doge cuts underperforming this morning and throughout
Speaker 2: the day after really talking down thereforeward looking at expectations
Speaker 2: in how the government really trying to tighten spending. Elon
Speaker 2: Musk going in there and cutting jobs and forcing people
Speaker 2: to justify why they're working and why if you're a
Speaker 2: consultant you actually are going to get paid. That's something
Speaker 2: that the management team really sounded the alarm on some analysts,
Speaker 2: maybe a bit more bullish or saying this is kind
Speaker 2: of the tone we've seen and heard for call it
Speaker 2: three or four weeks from the company and from the industry,
Speaker 2: but one of the worst performers in the SP five hundred,
Speaker 2: worst day since March of twenty twenty four, closing at
Speaker 2: the lowest level since sometime last year, So really seeing
Speaker 2: investors kind of look and say, now that I think
Speaker 2: about it, in what's been a choppy day, trappy market,
Speaker 2: maybe we avoid a company that is talking down there
Speaker 2: forward looking at expectations. And that's really been one of
Speaker 2: the trends from a broader perspective that we've been keeping
Speaker 2: an eye on so far as we wind through the
Speaker 2: final stragglers of earning season and get ready for Deltay
Speaker 2: too loudly big bank earnings in about two weeks now.
Speaker 3: Yeah, I can't believe we're already there, Carol, the end
Speaker 3: of this quarter, so we're going to start to hear soon,
Speaker 3: but we're still hearing from some companies. Interesting, Bailey, to
Speaker 3: also see companies talk about the effects of dog and
Speaker 3: government cost cutting. You've also got your eye on the
Speaker 3: restaurant space today. What's happened in there?
Speaker 2: Garden Garden brands trading at one point on pace for
Speaker 2: looking like what would be an all time high. This
Speaker 2: is the owner of Texas Roadhouse, the owner of all
Speaker 2: of Garden really beating expectations, and guys, I thought it
Speaker 2: was quite interesting that Uber Eats is a big driver
Speaker 2: of why they're bullish on the outlook, why they had
Speaker 2: a strong quarter, really rolling that out that being one
Speaker 2: of the growth levers that the company can pull. So
Speaker 2: I don't know about you, I personally wouldn't really get
Speaker 2: posted to go to be delivered, nor would I do
Speaker 2: that with a steak. But looking at the earnings beating expectations,
Speaker 2: talking up their ability to expand margins, that partnership with
Speaker 2: Uber potentially continuing to be a creative for the company.
Speaker 2: And another thing that analysts really called out was kind
Speaker 2: of the broader offerings that they're rolling out at their restaurants.
Speaker 2: Those are the two most well known franchises, and they've
Speaker 2: really been ramping up what they can bring to a
Speaker 2: consumer that, broadly speaking, is still feeling quite a pinch
Speaker 2: here in the US.
Speaker 3: All right, and there's another name, is it QXO that
Speaker 3: you have on kind of your watch list.
Speaker 2: UXO Beacon roofing QXO announcing that they have agreed to
Speaker 2: acquire Beacon. So this is a saga that started earlier
Speaker 2: this year. QXOS. Brad Jacobs kind of roll up machine,
Speaker 2: if you will. He kind of created a company with
Speaker 2: the goal of raising money to buy companies in kind
Speaker 2: of the supply chain housing management, if you will, to
Speaker 2: roll them up and be more efficient, saying that the
Speaker 2: supply chain is weak. They're finally going to Beacon at
Speaker 2: about eleven billion dollars total price tag. This is again
Speaker 2: a deal that we've been talking about for a couple months.
Speaker 2: At this point, would it have to go the hostile route?
Speaker 2: How could Beacon protect protect itself if it wanted to,
Speaker 2: And it does seem like they actually have the boards
Speaker 2: aligned reading through some of the filings. This as a
Speaker 2: company that was approached back in November, So when we
Speaker 2: saw the initial announcement laid out, Beacon basically said they
Speaker 2: were getting taken advantage of for being in a choppy
Speaker 2: back drop from a market perspective with the uncertainty around tariffs. Well,
Speaker 2: they changed their tune. They're agreeing to that deal. Both
Speaker 2: shares closing in the green. It does seem like a
Speaker 2: kind of saga that we were worried could linger on
Speaker 2: for quite some time is going to be wrapped up
Speaker 2: pretty efficiently.
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