Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
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 of the stocks on the move today.
Speaker 2: I'm Paul Studios, Michael Reagan, and we're joined by bloomberg'st
Speaker 2: Least my tay it all right, So I want to
Speaker 2: start with shares of gunmaker Smith and Wesson. That's ticker SWBI.
Speaker 2: Their shares have been down as much as nineteen percent.
Speaker 2: It's saying thirteen percent after the close yesterday. It's really
Speaker 2: looking at another challenging year. Right, Customers have been cutting
Speaker 2: back there spending on firearms. It posted lower quarterly profit
Speaker 2: in sales some of the specifics. So it posted profit
Speaker 2: of eight point six million compared with twenty seven point
Speaker 2: three million a year earlier. So that's a big difference.
Speaker 2: And it also pointed in factors like inflation, interest rates.
Speaker 2: It said tariffs on steel could drive up their costs.
Speaker 2: And it's CFO really put into perspectives that the company
Speaker 2: expects demand for firearms and fiscal twenty twenty six to
Speaker 2: be similar to what they saw in fiscal twenty twenty five.
Speaker 2: Management didn't provide any guidance because of uncertainty with tariffs.
Speaker 2: But what it's doing differently to deal with the slower demand,
Speaker 2: and that is it's limiting its inventory. So its CEO said,
Speaker 2: several market smaller on firearm manufacturers, they're also struggling to
Speaker 2: stay afloat because of the slowing demand, and they're also
Speaker 2: starting to exit the market too.
Speaker 1: I thought this was a bigger company market cap of
Speaker 1: only three hundred and eighty seven million dollars.
Speaker 2: Okay, I got it. Maryville, Tennessee is where they're based,
Speaker 2: fifteen hundred employees.
Speaker 1: What else you got?
Speaker 2: All right, so we got Kroger that's the nation's largest
Speaker 2: supermarket operator. Yes, ticker k r IT shares rose more
Speaker 2: than eight percent. That's actually the highest intra day since
Speaker 2: March of twenty twenty four. Reported a beat on sales,
Speaker 2: steady grocery spending, comparable sales when you take fuel kind
Speaker 2: of out of the picture. It rose three point two percent.
Speaker 2: That was better than what Wall Street expected. They also
Speaker 2: raised full of your sales guidance. They said it saw
Speaker 2: one hundred million dollar impairment charge that was due to
Speaker 2: its plans to close about sixty stores over the next
Speaker 2: eighteen months, so they do plan to close some stores
Speaker 2: when it comes to tariffs. They said, you know what,
Speaker 2: it's not going to bother us too much because a
Speaker 2: big part of our products are sourced domestically. But it
Speaker 2: still faces a few challenges, Paul, I know, this is
Speaker 2: one that you've talked about. Shoppers kind of buying the
Speaker 2: cheaper products, you know, like going in the stars.
Speaker 1: Yeah, going to.
Speaker 2: The cheaper products, or they're getting more items on sale too,
Speaker 2: and it really needs to spark growth because it had
Speaker 2: that failed deal with Albertson, so that it's also dealing
Speaker 2: with that too on top of it.
Speaker 1: But they're not They're not around here, are they. They're
Speaker 1: not in the Jersey area, Rover, We're not too much.
Speaker 2: But if you look at shares, like for other ones
Speaker 2: that are in the area, like a Walmart and a Costco,
Speaker 2: their shares are higher too because of this news.
Speaker 1: Interesting all right.
Speaker 2: And then finally is Building Products Distributor GMS. It's ticker, Yes, GMS.
Speaker 2: It's shares are up as much as twenty five cents,
Speaker 2: so really sparking the reason why it's this Wall Street
Speaker 2: Journal report that Home Depot made an offer for the company,
Speaker 2: no word on the price, and that would possibly set
Speaker 2: off this bidding war with QXO because they offered to
Speaker 2: buy a GMS for about five billion dollars earlier this week,
Speaker 2: and GMS said its board is reviewing that offer from QXO.
Speaker 2: But the big appeal with GMS, like what's so appealing
Speaker 2: about it is that home Depot in QXO, they're they're
Speaker 2: looking to expand right their share for market construction supplies
Speaker 2: and tools, and they're hoping that that bigger entity like
Speaker 2: GMS is going to help pull in business for more
Speaker 2: contractors and that's what they're needing. So QXO they're up
Speaker 2: about five percent. Home Depot has been up as much
Speaker 2: as half a percent.
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