Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg data. Let's take a look
Speaker 1: at some stocks on the move today.
Speaker 2: Maybe Alexis will do better than I did.
Speaker 1: Thank you.
Speaker 2: Well, how about a little Chicken Wings, which I had
Speaker 2: some Wingstop for you, because the stock is up this
Speaker 2: morning fourteen percent, biggest rally in about six months. Here's
Speaker 2: a good example of beating an already lowered bar. Because
Speaker 2: Wall Street's basically happy that things weren't as bad as expected.
Speaker 2: So Wingstop said same store sales fell five point eight percent,
Speaker 2: but that was better than the six point seven percent
Speaker 2: decline that was expected. Wingstop still seeing weakness in spending
Speaker 2: from their calling out the Hispanic community and low income consumers.
Speaker 2: It did guide though, for flat to low single digit
Speaker 2: a same store sales growth for this year, and that
Speaker 2: was actually better than expected. But we continue to see
Speaker 2: a wide range of these chains right saying that consumers
Speaker 2: are pulling back fewer trips, smaller purchases.
Speaker 1: I get that as well.
Speaker 2: What is this West Coast?
Speaker 1: I've never been I've never been killed.
Speaker 2: We do have we I have not either, actually for
Speaker 2: as much as I'm talking about it this morning, but
Speaker 2: we do have some here in the Northeast.
Speaker 1: I'm going I'm going to them.
Speaker 2: I'm on the website now, going to the locator. See
Speaker 2: if I can find you can build you three way boneless. Yeah, well,
Speaker 2: they just had their big We.
Speaker 1: Have them in New York.
Speaker 2: We have an area they had there for the Super
Speaker 2: Bowl and stuff. People love it. So thanks. All right,
Speaker 2: what have we got? Oh boy, We've got a lot
Speaker 2: of stocks on the move here today. Analog Devices Okay,
Speaker 2: up five percent, cashing in on the AI boom. Everybody
Speaker 2: reported higher fiscal first quarter profit bookings growth, driven by
Speaker 2: strength in its industrial and data center businesses, revenue up
Speaker 2: thirty percent, communications revenue up sixty three percent, and it
Speaker 2: guided for second quarter revenue of three and a half
Speaker 2: a billion, also better than expected. And look the CFO
Speaker 2: here of Analog Devices, he said on the call. The
Speaker 2: macro and geopolitical backdrop remains challenging, and the revenue outlook
Speaker 2: reflects a new high water mark for the company. But
Speaker 2: investors seemed to like it. Like I said, stock up
Speaker 2: five percent, one year return fifty three percent, and it
Speaker 2: had really a bang up start to the year, up
Speaker 2: twenty four percent ahead of that earnings report today. So
Speaker 2: analog devices on your screen also want to point out
Speaker 2: Bayar down eleven percent. So there's uncertainty around its attempts
Speaker 2: to settle these lawsuits that are tied to the roundup
Speaker 2: weed killer. This has been going on for years.
Speaker 1: Years.
Speaker 2: Yeah, sous younger when we were all younger. A Bear
Speaker 2: has agreed to pay more than seven billion dollars seven
Speaker 2: billion dollars to resolve current and future cancer lawsuits. But
Speaker 2: this still needs to be signed off on. They're saying
Speaker 2: that we might see some plaintiffs opt out, which leads
Speaker 2: them to you know, leaves them open to more liability.
Speaker 2: And Barkley says that proposed payout is actually bigger than anticipated.
Speaker 2: All right, now for the bit, I hope we have
Speaker 2: time for this real quick. Madison Square Garden Sports got
Speaker 2: to talk about it up ten percent. Companies that it's
Speaker 2: bored unanimously approving a plan to explore. So not a
Speaker 2: done deal yet, but they're thinking about possibly spinning off
Speaker 2: the New York Knicks from the New York Rangers, creating
Speaker 2: two distinct publicly traded companies. The transaction would be structured
Speaker 2: as a tax free spinoff. If it goes forward, it
Speaker 2: expects holders to receive pro rade a distribution of one
Speaker 2: hundred percent of common stock in the newly created public company.
Speaker 1: Yeah. I'm still in the wingstop menu. I've been doing
Speaker 1: that the whole time. I haven't heard a word. You said,
Speaker 1: there's a lot of good stuff there.
Speaker 2: Well, you can get your Wingstop and go to MSD
Speaker 2: and watch the next hopefully win this stock mover's report
Speaker 2: from Bloomberg Radio.
Speaker 1: Check back with us throughout the day for the latest
Speaker 1: roundup of companies making news on Wall Street and for
Speaker 1: the latest market moving headlines. Listen to Bloomberg Radio Live,
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