Shopify Slides; Lattice Semiconductor Soars; Yum Brands Rises

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0:06 News.

0:08 The Stock Movers Report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data.

0:16 Let's take a look at some stocks on the move today.

0:19 Let's start with Shopify. S-H-O-P. Stock taking it on the chin here. I'm taking a look. Ooh, down 16% at the moment. This is the e-commerce platform. Quarterly revenue, missing expectations for the first time in four years. Weaker than expected subscription solutions revenue. This weighed on results as merchant solutions.

0:40 That's its largest unit was roughly in line. Gross merchandise volume also trailing expectations here. I didn't realize Shopify is based in Ottawa. Just throwing that out there.

0:50 Do you use Shopify? I don't. Me neither. I really, maybe I should.

0:56 I mean, revenue growth has exceeded 30% for six consecutive quarters. And it's a pace it expects to maintain in the fourth quarter, but that's not helping the stock right now. All right, let's move on to Lattice Semiconductor. You know, I remember when I used to talk about this company.

1:10 Exactly.

1:11 LSCC, ticker symbol. It is up 10% today, delivering one of the strongest beat and raise quarters so far this earnings season. Record quarterly revenue up about 120%. Better than expected forecast for Q4. Yeah. It's also saying it's going to see at least 60% revenue growth. Implying revenue of at least $ 1. 6 billion, 18% above estimates. Lattice Semiconductor.

1:38 Based in Hillsborough, Oregon. Never heard. Didn't know that either. Yeah. It's out by Idaho, by Micron.

1:43 Oh, okay.

1:44 Is that right? Okay. Sort of the way it rolls. I mean, I look at Micron here. I guess it's sort of kind of like Lattice. The PE is 11.

1:55 Yeah.

1:55 I know. I just I'm not skilled at this. What do you do with a P.E.

2:00 11?

2:00 I don't know. You bid it up 10 percent. I don't know.

2:03 After the after better than expected earnings. Free cash flow, by the way, slipped at Lattice, but it's not getting the stock down. Yum Brands. So this stock is up about 2 percent here year to date. Bigger than expected hit from this summer's cyclospora outbreak. Remember when we were talking about the parasitic iceberg, the iceberg lettuce outbreak? Related to Taco Bell.

2:25 Yeah.

2:25 So now they're saying the numbers are out. They're saying that same store sales in July and August really took a hit at Taco Bell. That hurt overall sales at Yum. But they say since then, sales have come back.

2:37 Yep.

2:37 At Taco Bell. Can I open this up to a discussion here? Please. Yum Brands. Sounds like it was made by a committee of MBAs. Yeah, probably. Probably at a bar somewhere in Manhattan. They own names like KFC.

2:51 Yep.

2:52 La Belle de Toc. Yep. Pizza Hut. Habit Burger and Grill. Are they missing it by not in their name like Pepsi or Coca-Cola or McDonald's saying Pepsi? We're Taco Bell or we're. What is it?

3:08 People don't know what the umbrella brand is.

3:11 Yeah.

3:11 You know, and what does it even stand for? Because it's not an acronym for any of its businesses. But I have to point out they did divest themselves completely.

3:18 Of Pizza Hut.

3:19 Yeah. Last quarter. So now they're leaning even more heavily on Taco Bell because it's a big part of the business now.

3:26 I love Taco Bell. Do you? Solid. Always. Always. All right.

3:31 Yeah.

3:31 Three beef tacos.

3:32 If I go Mexican, I go Chipotle.

3:34 But I went Chipotle yesterday. They opened up on recently on Lexington Avenue.

3:38 They did.

3:39 They did.

3:40 They did.

3:40 I was surprised to see it. All right. Do we have time for Palantir real quick? Software developer stock is down 6 percent. Potential slowdown in sales growth also has a huge valuation, about 390 billion. So some are worried again. Sustainability. What's it all about? Are they going to continue things at Palantir?

3:59 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.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.