1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,360 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:17,440 Speaker 1: harnessing the power of Bloomberg data. Let's take a look 4 00:00:17,480 --> 00:00:18,920 Speaker 1: at some stocks on the move today. 5 00:00:19,160 --> 00:00:20,960 Speaker 2: Maybe Alexis will do better than I did. 6 00:00:21,200 --> 00:00:21,439 Speaker 1: Thank you. 7 00:00:22,040 --> 00:00:23,920 Speaker 2: Well, how about a little Chicken Wings, which I had 8 00:00:23,920 --> 00:00:26,520 Speaker 2: some Wingstop for you, because the stock is up this 9 00:00:26,600 --> 00:00:30,200 Speaker 2: morning fourteen percent, biggest rally in about six months. Here's 10 00:00:30,240 --> 00:00:33,880 Speaker 2: a good example of beating an already lowered bar. Because 11 00:00:33,920 --> 00:00:36,920 Speaker 2: Wall Street's basically happy that things weren't as bad as expected. 12 00:00:37,240 --> 00:00:40,720 Speaker 2: So Wingstop said same store sales fell five point eight percent, 13 00:00:40,800 --> 00:00:43,080 Speaker 2: but that was better than the six point seven percent 14 00:00:43,120 --> 00:00:47,519 Speaker 2: decline that was expected. Wingstop still seeing weakness in spending 15 00:00:47,560 --> 00:00:51,519 Speaker 2: from their calling out the Hispanic community and low income consumers. 16 00:00:51,840 --> 00:00:55,000 Speaker 2: It did guide though, for flat to low single digit 17 00:00:55,200 --> 00:00:57,600 Speaker 2: a same store sales growth for this year, and that 18 00:00:57,760 --> 00:01:01,000 Speaker 2: was actually better than expected. But we continue to see 19 00:01:01,000 --> 00:01:04,920 Speaker 2: a wide range of these chains right saying that consumers 20 00:01:04,920 --> 00:01:07,840 Speaker 2: are pulling back fewer trips, smaller purchases. 21 00:01:08,560 --> 00:01:09,679 Speaker 1: I get that as well. 22 00:01:10,400 --> 00:01:11,600 Speaker 2: What is this West Coast? 23 00:01:11,640 --> 00:01:13,000 Speaker 1: I've never been I've never been killed. 24 00:01:13,319 --> 00:01:15,600 Speaker 2: We do have we I have not either, actually for 25 00:01:15,640 --> 00:01:17,160 Speaker 2: as much as I'm talking about it this morning, but 26 00:01:17,240 --> 00:01:18,880 Speaker 2: we do have some here in the Northeast. 27 00:01:19,200 --> 00:01:20,399 Speaker 1: I'm going I'm going to them. 28 00:01:20,400 --> 00:01:22,679 Speaker 2: I'm on the website now, going to the locator. See 29 00:01:22,680 --> 00:01:27,399 Speaker 2: if I can find you can build you three way boneless. Yeah, well, 30 00:01:27,400 --> 00:01:28,479 Speaker 2: they just had their big We. 31 00:01:28,440 --> 00:01:29,000 Speaker 1: Have them in New York. 32 00:01:29,040 --> 00:01:31,080 Speaker 2: We have an area they had there for the Super 33 00:01:31,080 --> 00:01:34,039 Speaker 2: Bowl and stuff. People love it. So thanks. All right, 34 00:01:34,120 --> 00:01:35,840 Speaker 2: what have we got? Oh boy, We've got a lot 35 00:01:35,840 --> 00:01:38,759 Speaker 2: of stocks on the move here today. Analog Devices Okay, 36 00:01:38,880 --> 00:01:42,800 Speaker 2: up five percent, cashing in on the AI boom. Everybody 37 00:01:43,040 --> 00:01:47,040 Speaker 2: reported higher fiscal first quarter profit bookings growth, driven by 38 00:01:47,080 --> 00:01:51,600 Speaker 2: strength in its industrial and data center businesses, revenue up 39 00:01:51,720 --> 00:01:57,360 Speaker 2: thirty percent, communications revenue up sixty three percent, and it 40 00:01:57,440 --> 00:01:59,520 Speaker 2: guided for second quarter revenue of three and a half 41 00:01:59,560 --> 00:02:02,760 Speaker 2: a billion, also better than expected. And look the CFO 42 00:02:02,840 --> 00:02:05,200 Speaker 2: here of Analog Devices, he said on the call. The 43 00:02:05,240 --> 00:02:09,240 Speaker 2: macro and geopolitical backdrop remains challenging, and the revenue outlook 44 00:02:09,320 --> 00:02:12,760 Speaker 2: reflects a new high water mark for the company. But 45 00:02:12,880 --> 00:02:14,880 Speaker 2: investors seemed to like it. Like I said, stock up 46 00:02:14,880 --> 00:02:17,960 Speaker 2: five percent, one year return fifty three percent, and it 47 00:02:18,040 --> 00:02:20,720 Speaker 2: had really a bang up start to the year, up 48 00:02:20,760 --> 00:02:24,160 Speaker 2: twenty four percent ahead of that earnings report today. So 49 00:02:24,639 --> 00:02:28,040 Speaker 2: analog devices on your screen also want to point out 50 00:02:28,120 --> 00:02:33,880 Speaker 2: Bayar down eleven percent. So there's uncertainty around its attempts 51 00:02:33,919 --> 00:02:36,560 Speaker 2: to settle these lawsuits that are tied to the roundup 52 00:02:36,720 --> 00:02:38,919 Speaker 2: weed killer. This has been going on for years. 53 00:02:39,120 --> 00:02:39,480 Speaker 1: Years. 54 00:02:39,680 --> 00:02:45,000 Speaker 2: Yeah, sous younger when we were all younger. A Bear 55 00:02:45,040 --> 00:02:48,120 Speaker 2: has agreed to pay more than seven billion dollars seven 56 00:02:48,200 --> 00:02:51,400 Speaker 2: billion dollars to resolve current and future cancer lawsuits. But 57 00:02:52,160 --> 00:02:54,400 Speaker 2: this still needs to be signed off on. They're saying 58 00:02:54,440 --> 00:02:58,080 Speaker 2: that we might see some plaintiffs opt out, which leads 59 00:02:58,080 --> 00:03:01,440 Speaker 2: them to you know, leaves them open to more liability. 60 00:03:01,480 --> 00:03:05,640 Speaker 2: And Barkley says that proposed payout is actually bigger than anticipated. 61 00:03:06,200 --> 00:03:07,680 Speaker 2: All right, now for the bit, I hope we have 62 00:03:07,720 --> 00:03:10,120 Speaker 2: time for this real quick. Madison Square Garden Sports got 63 00:03:10,160 --> 00:03:13,320 Speaker 2: to talk about it up ten percent. Companies that it's 64 00:03:13,360 --> 00:03:16,440 Speaker 2: bored unanimously approving a plan to explore. So not a 65 00:03:16,480 --> 00:03:19,440 Speaker 2: done deal yet, but they're thinking about possibly spinning off 66 00:03:20,520 --> 00:03:22,920 Speaker 2: the New York Knicks from the New York Rangers, creating 67 00:03:22,960 --> 00:03:27,520 Speaker 2: two distinct publicly traded companies. The transaction would be structured 68 00:03:27,560 --> 00:03:30,280 Speaker 2: as a tax free spinoff. If it goes forward, it 69 00:03:30,320 --> 00:03:32,920 Speaker 2: expects holders to receive pro rade a distribution of one 70 00:03:33,000 --> 00:03:36,880 Speaker 2: hundred percent of common stock in the newly created public company. 71 00:03:37,000 --> 00:03:40,440 Speaker 1: Yeah. I'm still in the wingstop menu. I've been doing 72 00:03:40,520 --> 00:03:42,120 Speaker 1: that the whole time. I haven't heard a word. You said, 73 00:03:42,160 --> 00:03:43,560 Speaker 1: there's a lot of good stuff there. 74 00:03:43,840 --> 00:03:45,560 Speaker 2: Well, you can get your Wingstop and go to MSD 75 00:03:45,680 --> 00:03:49,920 Speaker 2: and watch the next hopefully win this stock mover's report 76 00:03:50,200 --> 00:03:51,440 Speaker 2: from Bloomberg Radio. 77 00:03:51,960 --> 00:03:54,080 Speaker 1: Check back with us throughout the day for the latest 78 00:03:54,160 --> 00:03:57,360 Speaker 1: roundup of companies making news on Wall Street and for 79 00:03:57,440 --> 00:04:01,360 Speaker 1: the latest market moving headlines. Listen to Bloomberg Radio Live, 80 00:04:01,800 --> 00:04:05,360 Speaker 1: catch us on YouTube, Bloomberg dot com, and on Applecarplay 81 00:04:05,400 --> 00:04:08,000 Speaker 1: and Android Auto with the Bloomberg Business app.