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.
Speaker 2: Well, let's take a look at some of the stocks
Speaker 2: on the move today in the pre market. We can
Speaker 2: do that with Alexis Christockers. What are you looking at, Alexis.
Speaker 3: I'm looking at a stock that hasn't done much of
Speaker 3: anything for months now, Paul, but today it's having a
Speaker 3: great day. I'm talking about Lazyboy, the furniture company. The
Speaker 3: stock is up seventeen percent here pre market. A year
Speaker 3: to date, it was down six percent. So this is
Speaker 3: after reporting better than expected Q four financial results. Also,
Speaker 3: the company authorized a three hundred million dollars shared by back,
Speaker 3: so that sort of always helps. Adjusted earnings of a
Speaker 3: dollar twenty six a share that beat expectations. And they're
Speaker 3: also saying that they reiterated guidance for the fiscal year.
Speaker 3: So earlier in the year they had talked about bad
Speaker 3: weather maybe hurting sales at the furniture stores, but apparently,
Speaker 3: according to these numbers, you know, that really didn't come
Speaker 3: to fruition. They also said that they are growing their
Speaker 3: business by opening new stores acquiring independent stores. So lazy
Speaker 3: Boy now owns two hundred and thirty stores across North America,
Speaker 3: which accounts for more than sixty percent of its total network.
Speaker 2: It's funny. I didn't even you know. I didn't even
Speaker 2: know this was a publicly traded company. I just love
Speaker 2: some part, some conglomerate you would think. Based in Monroe, Michigan,
Speaker 2: ten thousand, two hundred employees, got a market cap of
Speaker 2: one point four billion dollars.
Speaker 3: I mean that's a substantial company. Way to go, lazy Boy.
Speaker 3: Good for them, all, right, stock not lazy today. Let's
Speaker 3: move on to CarMax ticker symbol. They're KMX having a
Speaker 3: good morning as well. Up right now about one point
Speaker 3: eight percent. And it's been having a good year because
Speaker 3: CarMax is up thirty five percent. Fiscal first quarter sales climbed.
Speaker 3: This is the used car retailer sold more vehicles and
Speaker 3: said it's turnaround strategy appears to be taking hold. So
Speaker 3: net sales operating revenue at Carmacks climbing six point two percent.
Speaker 3: But the company posted a profit of one hundred and
Speaker 3: eighty six million dollars, but that was actually down compared
Speaker 3: to a year ago, and they attributed that lower profit
Speaker 3: in part to lower prices. They basically said they had
Speaker 3: to cut prices to stay competitive and to move cars
Speaker 3: off lots. Comparable sales slipped eight tenths of a percent,
Speaker 3: not as steep as the two percent decline that analysts
Speaker 3: were looking at, but still a decline nonetheless. Moving forward, though,
Speaker 3: Carmack's CEO said the company is going to continue to
Speaker 3: implement its turnaround strategies and such as ensuring that its
Speaker 3: cars remain priced competitively. I think that's the trick.
Speaker 2: What I didn't know is I think the average age
Speaker 2: of a car in the US on it, it's like
Speaker 2: fourteen years, former fourteen years. I mean, it's like I
Speaker 2: didn't know that. But I mean, so if you're CarMax,
Speaker 2: that's your bread and butter right there.
Speaker 3: People are holding onto their cars much much more, and
Speaker 3: I think cars are just holding up better in general.
Speaker 2: Yeah, they're better made, and Carmacks stocks up a little
Speaker 2: bit today. It's up thirty five percent year to date,
Speaker 2: so I guess that turnaround is taking taking hold there.
Speaker 2: What else, Yeah, for sure.
Speaker 3: And then I want to move over to the manufacturing
Speaker 3: sector with Jabel out with earnings here before the before
Speaker 3: the open, the stock is up two point six percent.
Speaker 3: Jabil raised its full year outlook after logging higher profit
Speaker 3: and a jump in revenue last quarter. Demand for artificial
Speaker 3: intelligence infrastructure remains robust, according to the company. Jabel's outlook
Speaker 3: for AI related revenue for the year is now meaningfully
Speaker 3: higher on what the company CEO called extremely strong demand.
Speaker 3: So the manufacturing company now expects adjusted earnings of twelve
Speaker 3: seventy a share on revenue about thirty five billion for
Speaker 3: the year, and that is up from its previous forecast.
Speaker 3: So Wall Street likes what it's hearing from Jbill, and
Speaker 3: again the stock up better than two and a half
Speaker 3: percent here in the pre market.
Speaker 2: I mean, here's just another company I don't know anything about.
Speaker 2: I mean Jabel, Yeah, yeah, and it's huge. It's a
Speaker 2: you know, forty billion dollar market cap company based in
Speaker 2: Saint Petersburg, Florida. Okay, one hundred and thirty five thousand employees. Again,
Speaker 2: how I've been on a Wall Street for forty years,
Speaker 2: I've never heard it.
Speaker 3: I mean, these maybe they weren't part of a big,
Speaker 3: a huge m and A deal. This is why you
Speaker 3: don't know yes, but I'm just taking a look at them.
Speaker 3: Jabil up sixty five percent year to date, so stock's
Speaker 3: been a nice performer for its shareholders.
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