Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today. I'm Paul Sweeney alongside Scarlet Film. We're joined by Bloomberg's Touchanna Daria, Touchana. What are you looking at?
Well? Kicking it off with A robot shares a big move here today, down seventy three percent. The company that makes a robot vacuum cleaner's file for bankruptcy propose handling control to its Chinese supplier, Sends and Robotics. This was somewhat expected, as they warn't about a potential back see earlier this month, but the company has been struggling ever since its post COVID era. When shares spike there, it's
hit by supply chain issues as well as cheaper competitors. Also, in twenty twenty two, they saw a deal from Amazon, who made an offer that would have turned the company's fortunes, but it apsed over a clash with EU competition authorities. So series of unfortunate events here leading to the downfall of I Robot and shares are down seventy three percent. Right now, all right, tell Yana, what's next? Next is a service?
Now?
The company shares are down ten percent. Tickers and W Bloomberg reports the enterprise software Companies and Advanced talks to buy a sub security startup Armies and, a deal that may be valued as much as seven billion dollars and would represent the tech company's largest acquisition to date. It's worth noting that representatives from both companies either declined or do not respond to comments. But analysts here are debating
this deal. They see the benefits. However, they are calling the price tag quite pricey.
I mean a tech analyst calling anything pricey, It's like, come on, you kidding me. We don't even quote it in multiples of earnings or ebithots multiples of revenue and seven to eight times revenue. Big deal?
All right?
One more and Costco is the final one. The shares are down two percent after Rawth Capital Partners cut the company's shares to sell from neutral. This caught my attention as we rarely see accelerating on anything these days, and the company has twenty four buys and fifteen holds. The analyst there saying that despite an earnings beat, he flags several underlying metrics are concerning, like renewal rates fading, paid members slowing, and store traffic decelerating on a year to
year basis. And this is quite interesting given that we've seen sort of, you know, more value oriented consumers. But apparently it's also a factor of competition with the Sam's Club, BJ's Wholesale also seeing a lot more new business, and they see downside to seven hundred and sixty nine dollars, which would represent quite a big decline more than ten percent from where we're trading currently at eight hundred and sixty nine dollars this year.
The Stock Mover's Report from Bloomberg Radio. Check back with us throughout the for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.