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 stocks in the move today.
I'm Tom Keen with bol Sweeney and Bloomberg's Alexis Crystal. All right, thanks, guys. I'm going to start with Whirlpool, you know, the iconic appliance maker washers, dryers, dishwashers. That stock is down twenty one and a half percent right now. It is warning that the war in Iran has triggered a severe downturn, and I guess it's just underscoring the sharply higher fuel prices that we're seeing. We're also seeing
a drop in consumer confidence. All of this sort of playing out now with these big ticket items in fact in their earnings filing. This is a direct quote from that filing. War in Iran resulted in recession level industry declines in the US, that's what they're saying. So Whirlpool is slashing us full your earnings guidance in half and
suspending its dividend as it prioritizes paying down debt. We've got an analyst over at JP Morgan, saying that the lower earnings outlook driven by higher raw material inflation, tariff impact, and a weaker price and product mix benefit. But you know what people are spending on services and travel, right. Luber Disney out with strong earnings, but get an appliance maker here taking a big head.
Only has a market cap of three and a half billion dollars.
If you had asked me about Whirlpool, I would have said thirty billion, forty billion.
Yeah, that's a spate company.
Okay, let's move over to food, shall we Let's do that. It's always on my mind. Shake Shack plunging twenty three percent here this morning, reporting a first quarter higher first quarter revenue, but it swung to a loss as the restaurant chain made investments in marketing and tech, and it also faced higher beef costs. We've been taught, we talk a lot of the show about these high beef costs. Also,
unfavorable weather, they said, cut into profits. Despite this, though, the company CEO said underlying sales and traffic and momentum remained strong. Also, Shakeshack appointing a new CFO, Michelle Hook, comes from the food chain Portillo she's going to start in May, and also Shakeshack's going to open up more company operated stores. And first thought this year they were guiding around fifty five to sixty. Now it's more like
sixty to sixty five. But this is the Danny Meyer founded restaurant chain.
YEP losing a little luster down twenty percent pre market trading. Wow, I just there was a sign somebody had.
Eric Culprit I think headed out on Twitter today. He's gotten stronger because now he can live up. He can lift up with his arm. One hundred dollars at groceries. Oh there you go, because like literally, what's a bag of groceries? It's true, you go, you go to this is.
What I left sixty dollars.
Yeah, it's tough, particularly with protein on the bottom. Yeah, it's just this is not fun. Next, this leads me to my next stock, which is Beyond Meat, sliding eleven and a half percent. It posted a double digit decline in revenue, and if you're keeping trackets, it's four disappointing quarter of revenue disappointments. There are sales of its alternative meat products continuing to wan. Fifteen percent decline in revenue driven by lower sales of burger and chicken products to
quick serve restaurants, especially internationally. It also incurred three point seven million in expenses related to convertible debt. But it's been struggling, you know, with these lower sales. They did release a slew of new products this year. New flavored chicken pieces, O Love protein drink. Okay.
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