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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 stocks on the move. I'mmli Grafeo jumping ahead of Carol Masser here, and we're joined by Bloomberg News cross As reporter Tanitza Sikova. Okay, let's go to retailers.
Yeah, we're talking about uncertainty in the economy, and what a better place to start than Walmart. Walmart had a pretty rough day yesterday and today's down about two percent. The ticker, of course, is WMT. The firm forecasted less earnings growth than analysts are expecting. Of course, we know Walmart is always on the conservative sides when it comes to earning sestimates, but still we're seeing some concerns because even HSBC cut their recommendation for the retailer from buy
two hold, So clearly the analysts are taking seriously. What is happening is obviously the economy is expanding at a fast pace, but there aren't too many jobs being aut it, so clearly that's case shape recovery or whatever. You call. It is definitely weighing on the company. The number everyone is worried about is are they expect earnings to rise from two doors seventy five cents to two doors eighty five cents And the street was actually expecting nearly three doors,
so pretty big gap that clearly is worrying investors. The stock is of more than nine percent year to day, so needless to say, there is just kind of a short term thing.
It's also been on a tear, I mean more than what SEV twenty four, up about twenty three percent last year.
For sure, and it's coming from a very strong rally well, and I.
Think a lot of people like what they've been doing right in terms of some of the shifts and a lot of stress on digital.
This show has been a big revenue for them or one of the grows fastest growing parts of the business for sure.
All right, I ordered anything from Walmart though, yeah, I just think, like, I.
Mean Amazon, I wouldn't think of it. Yeah right, you said Amazon. But Amazon is actually displaced Walmart as the company with the largest revenue today.
But does that include a WS I think so. Yeah, So it's not apples to Apple, it's not like retail. The retail I've been looking.
At ignore it's agnoment.
All right.
My understanding is Walmart is still the biggest physical retailer, like physical store retailers, like there's a distinction, right, all right, Amazon, I was thinking about We're going to go somewhere, but I'm thinking about your credit world. Yes, have you been talking a lot about Blue Owl.
Yes, that's been the big focus right now, and in fact it's one of the most red stories on the Bloomberg terminal for today. It might even hit the most read for the week as well. Yes, we're closing out the week, but so much focus here on private credit and what it means for retail getting into private credit. Tell us about blue Owl stock. This is interesting because we get a public look to how this sector is performed.
Yeah, for sure, BBC's it's something we've been looking for the rest of the time. Yeah, there was the whole conversation about cocroaches. But what we're seeing now is a lot of the funds that kind of appeared in the last few years, the whole exposure to retail. There's like Evergreen funds, interval funds. There was just like a slew of vehicles that now allow retails investors to access the space are under pressure. And blue Out is the example that is happening this week. The ticker is all WL.
The stock is down about six percent now here today it's down twenty seven percent. And it's not only blue Out. We have rs, we have Apollo, we have black songe KKR, all those names in the private credit and private equity space are under a lot of pressure. What happened is there was a decision to restrict with drawers from one of its private credit funds, and of course those withdrawers were already quarterly. It's not like this is not atf
you can all just go and withdraw your money. But now there is more and more pressure, and clearly investors are very jittery about down twenty seven percent year to date, and everyone has been looking for cracks when it comes to private credit, and fundraising has been really slowing down for private credit. So in terms of what's happening in the future, we're definitely seeing investor worry.
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