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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I want to take a look now at some stocks on the move. I'm Alexis Christophus along with Isabell Lay. We are in for Paul Sweety and Scarlett Food holding down the fort here at Bloomberg headquarters, and we are joined by Bloomberg's Avalon Pernell for a look at some of those stocks on the move. Once upon a Farm, so this is the company that actress Jennifer Garner is involved. But she co founded it, didn't she.
Yes, she did. She co founded it in twenty seventeen to offer healthier baby food which once upon a time that's ticker OFRM. It's down about fourteen percent today. That's after the snack company forecast sales growth for the year that was a little bit slower than expected in its
first earnings report as a public company. And JP Morgan's also saying that while the gross margins did come in a little bit light, sure on the stock may actually be more because of like a reflection of greater confidence in the food space. More specifically, earlier this week, we saw Campbell's hit its lowest level since.
Two thousand and three.
APT Yeah, a delayed snack recovery could also be hitting other companies like Once upon a Farm.
What's going on in Alta?
You know, I've only been to Alta at least once in my life, I think.
Really only once everywhere in the city. John Hucker's been in there more than you.
I've been more. Yeah, it's just like I'm always I was dragged in. I didn't go in for mylos entirely or not.
Yes, you've been more than me.
What's going on with the stock?
Yes, Alta beauty ticker ALTA falling about nine point seven percent today, most inter day since twenty twenty four, making it one of the worst performers on the S and P five hundred today. That's after it reported earnings per share for the fourth quarter that was a little bit short of expectations and also the midpoint of its full year EPs forecast also miss estimates. That being said, the
expectations were really high. The stock has been up nearly one hundred percent in the last year as of yesterday's close. So Tdcohen said their shares were most likely just held back as investors digested a slightly softered and expected for your guidance, but important to recognize that they're known for having guidance. It's slightly more conservative at the start of the year.
Okay, good to know. And also Adobe change of the guard there at the top. They're longtime CEO stepping down. I don't think Wall Street likes it.
You're right. Adobe ticker ADB sliding about six point two percent right now. That's after the maker of software for creative professionals said that one as you mentioned, the CEO will resign. And also there's just across the board a lot of skepticism about how the company will survive amid this AI era. What will that look like? Adobe's spin hit by a lot of questions, especially like other software developers looking at Salesforce as an example, how will they survive?
We don't quite know yet, and it seems like investors remain skeptical.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day 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.