WEBVTT - Wingstop Jumps on Earnings; Analog Devices Beats Estimates; Bayer Shares Plunge

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data. Let's take a look

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<v Speaker 1>at some stocks on the move today.

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<v Speaker 2>Maybe Alexis will do better than I did.

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<v Speaker 1>Thank you.

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<v Speaker 2>Well, how about a little Chicken Wings, which I had

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<v Speaker 2>some Wingstop for you, because the stock is up this

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<v Speaker 2>morning fourteen percent, biggest rally in about six months. Here's

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<v Speaker 2>a good example of beating an already lowered bar. Because

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<v Speaker 2>Wall Street's basically happy that things weren't as bad as expected.

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<v Speaker 2>So Wingstop said same store sales fell five point eight percent,

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<v Speaker 2>but that was better than the six point seven percent

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<v Speaker 2>decline that was expected. Wingstop still seeing weakness in spending

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<v Speaker 2>from their calling out the Hispanic community and low income consumers.

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<v Speaker 2>It did guide though, for flat to low single digit

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<v Speaker 2>a same store sales growth for this year, and that

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<v Speaker 2>was actually better than expected. But we continue to see

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<v Speaker 2>a wide range of these chains right saying that consumers

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<v Speaker 2>are pulling back fewer trips, smaller purchases.

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<v Speaker 1>I get that as well.

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<v Speaker 2>What is this West Coast?

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<v Speaker 1>I've never been I've never been killed.

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<v Speaker 2>We do have we I have not either, actually for

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<v Speaker 2>as much as I'm talking about it this morning, but

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<v Speaker 2>we do have some here in the Northeast.

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<v Speaker 1>I'm going I'm going to them.

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<v Speaker 2>I'm on the website now, going to the locator. See

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<v Speaker 2>if I can find you can build you three way boneless. Yeah, well,

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<v Speaker 2>they just had their big We.

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<v Speaker 1>Have them in New York.

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<v Speaker 2>We have an area they had there for the Super

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<v Speaker 2>Bowl and stuff. People love it. So thanks. All right,

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<v Speaker 2>what have we got? Oh boy, We've got a lot

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<v Speaker 2>of stocks on the move here today. Analog Devices Okay,

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<v Speaker 2>up five percent, cashing in on the AI boom. Everybody

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<v Speaker 2>reported higher fiscal first quarter profit bookings growth, driven by

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<v Speaker 2>strength in its industrial and data center businesses, revenue up

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<v Speaker 2>thirty percent, communications revenue up sixty three percent, and it

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<v Speaker 2>guided for second quarter revenue of three and a half

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<v Speaker 2>a billion, also better than expected. And look the CFO

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<v Speaker 2>here of Analog Devices, he said on the call. The

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<v Speaker 2>macro and geopolitical backdrop remains challenging, and the revenue outlook

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<v Speaker 2>reflects a new high water mark for the company. But

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<v Speaker 2>investors seemed to like it. Like I said, stock up

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<v Speaker 2>five percent, one year return fifty three percent, and it

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<v Speaker 2>had really a bang up start to the year, up

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<v Speaker 2>twenty four percent ahead of that earnings report today. So

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<v Speaker 2>analog devices on your screen also want to point out

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<v Speaker 2>Bayar down eleven percent. So there's uncertainty around its attempts

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<v Speaker 2>to settle these lawsuits that are tied to the roundup

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<v Speaker 2>weed killer. This has been going on for years.

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<v Speaker 1>Years.

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<v Speaker 2>Yeah, sous younger when we were all younger. A Bear

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<v Speaker 2>has agreed to pay more than seven billion dollars seven

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<v Speaker 2>billion dollars to resolve current and future cancer lawsuits. But

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<v Speaker 2>this still needs to be signed off on. They're saying

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<v Speaker 2>that we might see some plaintiffs opt out, which leads

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<v Speaker 2>them to you know, leaves them open to more liability.

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<v Speaker 2>And Barkley says that proposed payout is actually bigger than anticipated.

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<v Speaker 2>All right, now for the bit, I hope we have

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<v Speaker 2>time for this real quick. Madison Square Garden Sports got

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<v Speaker 2>to talk about it up ten percent. Companies that it's

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<v Speaker 2>bored unanimously approving a plan to explore. So not a

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<v Speaker 2>done deal yet, but they're thinking about possibly spinning off

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<v Speaker 2>the New York Knicks from the New York Rangers, creating

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<v Speaker 2>two distinct publicly traded companies. The transaction would be structured

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<v Speaker 2>as a tax free spinoff. If it goes forward, it

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<v Speaker 2>expects holders to receive pro rade a distribution of one

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<v Speaker 2>hundred percent of common stock in the newly created public company.

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<v Speaker 1>Yeah. I'm still in the wingstop menu. I've been doing

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<v Speaker 1>that the whole time. I haven't heard a word. You said,

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<v Speaker 1>there's a lot of good stuff there.

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<v Speaker 2>Well, you can get your Wingstop and go to MSD

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<v Speaker 2>and watch the next hopefully win this stock mover's report

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<v Speaker 2>from Bloomberg Radio.

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<v Speaker 1>Check back with us throughout the day for the latest

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<v Speaker 1>roundup of companies making news on Wall Street and for

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<v Speaker 1>the latest market moving headlines. Listen to Bloomberg Radio Live,

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