Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stockmovers Report, your
Speaker 1: roundup of companies making moves in the stock market, harnessing
Speaker 1: the power of Bloomberg Data. Let's take a look at
Speaker 1: some stocks on the move today. I'm Tom Keen with
Speaker 1: Paul Sweeney and Bloomberg's Alexis Christofferser's Stockmovers. It's a pod.
Speaker 2: I am a little preoccupied because that little parade going
Speaker 2: on downtown, but I want to start with the most
Speaker 2: actively traded stock this morning, and that is Intel. It
Speaker 2: is up nearly nine percent in the pre market. It's
Speaker 2: on pace for hitting an all time high today. And
Speaker 2: here's what's behind it. President Trump said that Apple has
Speaker 2: agreed to work with Intel to design and build semiconductors
Speaker 2: right here in the US. And so this is a
Speaker 2: big deal for Intel, landing Apple as a customer. It's
Speaker 2: a massive win for the company and could potentially attract
Speaker 2: other businesses to do the same thing it's been trying to.
Speaker 2: It's it's a key piece of the company's comeback plan.
Speaker 2: Really well, we heard from President Trump on this correct,
Speaker 2: that is correct. Be in a cell side analyst as well,
Speaker 2: But wait a minute, is he an owner of this
Speaker 2: well exactly right there, Tom Keane. The US owns ten
Speaker 2: percent of Intel. They did that deal last year. So yeah,
Speaker 2: the stock is all.
Speaker 1: Do our Texas go down because we made a pop
Speaker 1: on Intel?
Speaker 2: I would think I'd like that. Stocks up year to
Speaker 2: date two hundred and thirty percent over the trail and
Speaker 2: twelve months up four hundred and sixty percent.
Speaker 1: This is detail.
Speaker 2: I mean, does my congestion pricing fee go away in
Speaker 2: mid toiw Manhassan because of this? I'd like that. Next.
Speaker 2: All right, let's go to Kroger's supermarket change sales YEP
Speaker 2: stock is taking a beating today, though it's down about
Speaker 2: eight percent right now and really hasn't done much of
Speaker 2: anything lately. It's down about one percent year to date.
Speaker 2: Sales beat expectations just barely last quarter, again showing that
Speaker 2: shoppers are prioritizing groceries, buying those BA sick necessities as
Speaker 2: they continue to you know, look closely at their household budgets.
Speaker 2: So Kroger said same store sales grew one percent. That's
Speaker 2: excluding a gas fuel prices you know, or fuel sales.
Speaker 2: That was slightly better than expected. Wall Street is also
Speaker 2: looking to gain market share here under its new CEO,
Speaker 2: Greg Foran, and he was here at Bloomberg last month,
Speaker 2: and he said that Kroger's is going to implement their
Speaker 2: largest price cut in years to be more competitive with
Speaker 2: rivals such as Walmart, Costco on Amazon. Of course, Wall
Speaker 2: Street doesn't love that idea. Got to cut the prices.
Speaker 2: So they also maintain their full year guidance, though they
Speaker 2: said profits were squeezed by higher transportation costs. So again
Speaker 2: those fuel costs playing their price cuts. Those planned price
Speaker 2: cuts and lower egg prices actually hurt profits at Kroger's. Hey,
Speaker 2: they fancy eggs haven't come down. What are your fancy eggs?
Speaker 1: They're hand picked, carry out, Give me one more.
Speaker 2: We're going to do hard, turn and talk. Smith and
Speaker 2: Wesson the ticker symbol SWBI. The stock is up nearly
Speaker 2: fifteen percent and rallying nearly four percent year to date.
Speaker 2: The gun maker posting a twenty seven percent jump in
Speaker 2: revenue last quarter, new products, especially handguns, helping the company
Speaker 2: gain market share here. Now, Smith and Wesson expects around
Speaker 2: fifteen to twenty percent revenue growth in the first quarter,
Speaker 2: mid single digit revenue growth for the full year, and
Speaker 2: new products made up almost thirty eight percent of the
Speaker 2: company's fourth quarter shipments. They also entered new categories such
Speaker 2: as hunting. I would have thought they were already in
Speaker 2: that Yeah, and sales remained strong. Inventory levels decline even
Speaker 2: as the company raised prices, so even Smith and Wesson
Speaker 2: is raising prices. They also paid down their debt. Wall
Speaker 2: Street likes that as well. They ended the year with
Speaker 2: twenty million in debt compared with eighty million.
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