00:00Estee Lauder. This stock is now up today. Investors are applauding the collapse of
00:05merger talks with the Spanish beauty brand Pooch. And by the way, you do pronounce it
00:10Pooch, even though it's spelled P-U-I-G. Okay. In the music business, he's Puig. He's a guy that
00:17mixes records. Okay. Well, this is different. Puig is Pooch. Pooch. Yeah. So it's up 11.6%
00:24Estee Lauder. So this news had caught Wall Street by surprise because these two sides had been
00:29talking since March. They thought they were progressing towards a deal. It would have
00:33created one of the world's largest fragrance and skincare companies. Why did it fall apart?
00:37We don't know for sure. The two sides aren't saying. But Bloomberg is reporting that the
00:41makeup artist Charlotte Tilbury was demanding certain compensation in this deal. That was
00:46one of the sticking points. Tilbury actually sold her brand to Pooch back in 2020, but still has a
00:51bit of a stake in the company. So now what happens to Estee Lauder? Well, the CEO there is left
00:56with
00:56still trying to revive the brand. It's reported three years of annual sales drops. So there are
01:01challenges ahead, but a lot of people on Wall Street didn't quite understand this deal. They
01:05didn't know how Estee Lauder would integrate Pooch's products during this time.
01:09Where do they fit in across the street at Bloomingdale's? Where does Estee Lauder fit in
01:16when I'm looking at the futurist hydroplump tinted lip balm, $38?
01:21And that's one of the challenges, you know, is trying to lure the younger skincare product folks
01:27because that's really what they're after right now. Are they from your enemy of Sephora?
01:31Estee Lauder? Yeah. I don't feel like I see them in there. And I don't know. Don't start
01:35writing and telling me Estee Lauder. I thought they shifted a lot of their
01:37focused online, if I'm not mistaken, right? I mean, I think they, you know, Amazon and the TikTok
01:41shops, I mean, they're selling lower priced items to younger buyers. I remember my, like, for
01:45instance, really, honestly, I think of my grandmother when I think of Estee Lauder and her scent.
01:48I mean, that's their challenge. That's the smartest thing I've heard. Next.
01:52All right. IMAX soaring 14%. The Wall Street Journal has a story saying that this is the
01:58large screen theater company. It's exploring a sale. It's already approached some entertainment
02:02companies for as potential buyers. Get this. The stock is up 40% since last summer, but it is down
02:097% so far this year. It got a market cap of about $1.8 billion. I didn't realize this,
02:15but premium
02:15screens, including IMAX, accounted for more than 5% of domestic box office sales last year. It's
02:21taking a bigger share of the box office. I have to tell you, the last movie I saw was an
02:26IMAX,
02:26and I do not go to the theater very often. But is the sphere in Las Vegas the new IMAX?
02:31That's the question. That is the question. I don't know. I mean, Sweeney's more up to it.
02:35Where's Sweeney? I don't know. He's got to be golfing. I don't think he's at an IMAX,
02:39but you never know. He's probably on the Vespa, you know, having a morning beverage and
02:45listening to us on his Bloomberg. We had these radios years ago with one radio station.
02:50He's hanging on every word. I remember those days. I still have one.
02:53You still have the Bloomberg 11th row? I actually do. I don't think it works anymore.
02:56Mr. Bloomberg has it. He told me the other day. That's how he listens. Do you know what
03:00Mr. Bloomberg said to me? I was listening to you this morning, Tom, and I can't remember a thing
03:05you said. I said, thank you, Mr. Bloomberg. I have one more here for Mr. Bloomberg.
03:11Ross Stores up 5%. This stock is up 20.5% so far this year, raising its sales and profit
03:17guidance after first quarter results beat the street, aided by, get this, strong customer
03:22traffic among younger shoppers aged 18 to 24. What is Ross Stores doing right? This is the
03:28off-price retailer, meaning it sells brand names, designer merchandise for less. It said that same
03:34store sales growth was the best in the company's history, up 17% last quarter. And Ross's CEO
03:40on the call said, the company is outperforming virtually every other retailer that they can
03:46track when it comes to younger customers. Wow. Quite the statement.
03:51Yeah, I know. I see comp sales blow out first quarter. Everyone loves it. Truist City, Jefferies,
03:55everyone's a bye-bye-bye.
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