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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'm Jim Stanovec along with Emily Graffeo. Let's take a look at some stocks on the move today. We are joined by Bloomberg News cross asset reporter Tanitsa Soakova.
Hi.
There one stock that is not having a great day to day's target. It actually had a pretty strong earnings report, but it was about the earnings call. The company shoued more concious tone about the coming months, and investors are having a pretty bad reaction. After earnings report came to stock actually rose, but now the stock is down more than six percent. The ticker, of course is t GT.
We looked at the report, comparable sales jumped five part six percent, biggest increase since the end of twenty twenty one. We look at the annual revenue guidance that was up by two percentage points. So the earning supports was really really strong. But what happened on the earning scores is that the company weren't about different comparisons in the current quarter. More challenges ahead and that the benefits of the tax
refunds are fading, so kind of a triple threat. Just as investors were excited, the company is up still more than twenty percent. This is a very competitive space. We're seeing the pressure of consumers. We've seen all those inflation concerns, and of course we have Walmart and Costco taking some of that share and really expanding their online shopping. So it's very competitive, and you know, you can see investors are punishing it just because of the earnings.
Yeah, Target TGT the stock up twenty two percent this year. Yeah, getting a little punished today. It has just been beaten up though over the last years. I mean, if you think of those post COVID highs back in June of twenty twenty one, it's still down forty three percent exactly.
Yeah, the COVID story was their big boom, and they kind of never went back to that place. But this year was a good example. They were doing quite well until today.
So maybe the new CEOs still has some runway.
Yes, yeah, there's some good science.
Okay. Another stock that was hot during the pandemic and actually is still hot today, Tania Kava, one of our favorite slop bowls.
It's a great slow bowl And what came in the earning support is that they're affordable. So ball I actually found that pretty instinct. They say their chicken and falaffo bowls are less than twelve percent on average across the US. So I'll take that to you if you think less than how much less than twelve.
Doors on that outside of New York City, US. So, I don't know.
I don't know if it's a far about, but the stock is of about four percent and a nearly forty percent here today. It came off the company raising its annual sales outlook, it's clearly people love it. You know what they really like their sites. They have those limited time sites. They have white sweet potatoes, sour cream, onion, pia chips and stuff like that, which the CEO says apparently is really helping. I guess it really adds up.
Even if your average meal is not as expensive with some other change, when you have the sites, it probably comes to a pretty hefty price and consumers are happy they're getting something limited.
This was also a company that you know, in the last few years is down from recent highs like January thirtieth, twenty or no, I should say December of twenty twenty four. Yes, the stock was at what one hundred and fifty oh yeah dollars a share, now down to eighty one dollars a share, So yes, again having you know, a good few months, but a far cry from what it was when everybody's like, wow, is Cobba overvalued?
Yeah, it's been a really tough time for all those changes. We've been talking about Sweet Green, We've been talking about all those bull that was kind of abundant during the pandemic past pandemic, and there was such a boom and now definitely investors are judging it a lot more rigorously, but nevertheless pretty strongly for Cava.
All right, And so in the last minute here danitza one more company, a toy company.
Yes, Hasbro is down more than seven percent on Wednesday. The company maintained a sales forecast for the year that was on the low end that pretty much disappointed analyst. What we're seeing is like they're attracting a lot of older consumers and adults with their board games, card games, like one popular game is Magic the Gathering. So they've been tracking this for some time. It's been a successful strategy.
You know why it's attracting adults because when I was in fourth grade, people played Magic the Gathering, And now those fourth graders are in their forties, forties, and now they're buying.
I was going to ask, I feel, so you played that game.
Yeah, I don't remember like how to play it, but it's just shocking to me that this is still you know, a thing, So for sure, for.
Sure, this 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.