1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on the Stock Mover's report 3 00:00:13,600 --> 00:00:16,560 Speaker 2: the companies making moves at the close of US trading, 4 00:00:16,800 --> 00:00:21,279 Speaker 2: with Carol Master, Tim Stenebeck, Romain Bostik, and Scarlett Foo. 5 00:00:22,440 --> 00:00:25,400 Speaker 3: The worst performer fair Isaac. We also had a tough 6 00:00:25,440 --> 00:00:29,280 Speaker 3: day yesterday. Right, it's down another sixteen percent in today's session. 7 00:00:29,400 --> 00:00:31,800 Speaker 3: Best performing name, it's gonna be one of my gainers, guys, 8 00:00:31,840 --> 00:00:34,240 Speaker 3: it's Alphabet, but oh deep t take it away, Scarlett. 9 00:00:34,240 --> 00:00:35,879 Speaker 4: All right, let's take a look at the imapp A 10 00:00:35,920 --> 00:00:38,720 Speaker 4: lot of red there. You mentioned Alphabet, Carol and Alphabet 11 00:00:38,960 --> 00:00:42,280 Speaker 4: as well as Netflix, but just bareley are basically supporting 12 00:00:42,280 --> 00:00:44,800 Speaker 4: the communications services sector. And you can see that's the 13 00:00:44,840 --> 00:00:47,360 Speaker 4: one loan slice of the pie that is green. That 14 00:00:47,400 --> 00:00:49,120 Speaker 4: group is up about two thirds of one percent, and 15 00:00:49,159 --> 00:00:52,000 Speaker 4: you have three sectors down at least two percent. Two 16 00:00:52,040 --> 00:00:55,320 Speaker 4: of them are rate sensitive reads and financials and healthcare 17 00:00:55,520 --> 00:00:57,640 Speaker 4: losing two point four percent because of United Health. 18 00:00:57,640 --> 00:01:01,279 Speaker 3: All right, guys, there were a few gainers, as Scarlet 19 00:01:01,360 --> 00:01:04,000 Speaker 3: just mentioned, Alphabet certainly among them, up as much as 20 00:01:04,040 --> 00:01:05,640 Speaker 3: five and a half percent, and it's highs finishing the 21 00:01:05,720 --> 00:01:07,760 Speaker 3: day of the two point eight percent gain. It was 22 00:01:08,040 --> 00:01:09,640 Speaker 3: pretty much your biggest gainer in the S and P 23 00:01:09,680 --> 00:01:12,240 Speaker 3: five hundred Nasdaq one hundred. What happened is the company 24 00:01:12,280 --> 00:01:15,320 Speaker 3: said it will offer AI mode in search to all 25 00:01:15,480 --> 00:01:19,759 Speaker 3: US users, so kind of AI mode terbo mode, Like. 26 00:01:19,800 --> 00:01:24,360 Speaker 5: Exactly, yeah, I pay for it, but okay. 27 00:01:23,160 --> 00:01:26,679 Speaker 3: Hey, it's show gets commitment to redesigning it's core business 28 00:01:26,680 --> 00:01:28,040 Speaker 3: to keep pace with its new rivals. 29 00:01:28,360 --> 00:01:29,240 Speaker 6: You know, AI mode. 30 00:01:29,280 --> 00:01:31,280 Speaker 3: You do anything with AI and everybody gets excited. But 31 00:01:31,360 --> 00:01:33,040 Speaker 3: right as Alex said, you're gonna have to pay for it. 32 00:01:33,400 --> 00:01:36,240 Speaker 3: Defied development folks. A small market cap for NDER thirty 33 00:01:36,280 --> 00:01:39,000 Speaker 3: eight million, but it was up forty percent here pretty 34 00:01:39,040 --> 00:01:42,399 Speaker 3: much at its highs, all time highs a blockchain developer. 35 00:01:42,720 --> 00:01:46,839 Speaker 3: And this is after Solana said it instituted a seven 36 00:01:46,880 --> 00:01:49,600 Speaker 3: for one forward stock split today. So we saw this 37 00:01:49,680 --> 00:01:53,080 Speaker 3: one also benefiting in the trade. And here's another one 38 00:01:53,080 --> 00:01:55,080 Speaker 3: I don't really talk about it, and a lot dey 39 00:01:55,160 --> 00:01:58,280 Speaker 3: is the ticker di Com Industries six and a half 40 00:01:58,320 --> 00:02:02,200 Speaker 3: billion dollar market cap. Bill fiber optic systems for cable 41 00:02:02,240 --> 00:02:05,840 Speaker 3: TV operators boosted it to your forecast for contract revenue growth, 42 00:02:06,080 --> 00:02:07,760 Speaker 3: and so this one definitely an app performer. 43 00:02:07,840 --> 00:02:09,160 Speaker 6: And the stacks up about thirty percent. 44 00:02:09,160 --> 00:02:12,600 Speaker 3: There's a few other honorable mentions like Canada, Goose and Corwy, but. 45 00:02:13,240 --> 00:02:14,640 Speaker 6: I'll just have to go to the Bloomberg to check 46 00:02:14,680 --> 00:02:14,959 Speaker 6: that out. 47 00:02:15,040 --> 00:02:18,880 Speaker 7: Okay, nice tease, Yeah, hey, easy job for me today 48 00:02:18,880 --> 00:02:20,360 Speaker 7: with the decliners, I do want to start with shares 49 00:02:20,400 --> 00:02:22,880 Speaker 7: Apple falling two point three percent. It was the biggest 50 00:02:22,919 --> 00:02:25,560 Speaker 7: decliner on a points basis in the S and P 51 00:02:25,680 --> 00:02:30,280 Speaker 7: five hundred shares fell right when we learned about open 52 00:02:30,320 --> 00:02:33,080 Speaker 7: Ai acquiring the AI device startup co founded by Apple 53 00:02:33,160 --> 00:02:35,360 Speaker 7: veteran Johnny Ive in this nearly six and a half 54 00:02:35,400 --> 00:02:38,520 Speaker 7: billion dollar all stock deal. But that was also the 55 00:02:38,600 --> 00:02:40,799 Speaker 7: time that we got that soft twenty year auction that 56 00:02:40,880 --> 00:02:44,160 Speaker 7: led yields to spike, So worth noting not necessarily those 57 00:02:44,200 --> 00:02:46,880 Speaker 7: two things correlated, But you can't talk about Johnny I 58 00:02:46,919 --> 00:02:48,680 Speaker 7: without talking about his history at Apple and the way 59 00:02:48,680 --> 00:02:50,920 Speaker 7: that Apple has missed out on the AI boom over 60 00:02:50,960 --> 00:02:53,120 Speaker 7: the last couple of years. Check out mark Erman's reporting 61 00:02:53,520 --> 00:02:56,799 Speaker 7: for that also shares a target down by two five 62 00:02:56,840 --> 00:02:59,280 Speaker 7: point two percent today, excuse me. Shares fell close to 63 00:02:59,320 --> 00:03:01,280 Speaker 7: eight percent at one one point in the day, the 64 00:03:01,320 --> 00:03:03,959 Speaker 7: company cut its sales forecast following a sharp pullback and 65 00:03:04,000 --> 00:03:07,359 Speaker 7: consumer spending and ahead from tariffs and boycotts. A little 66 00:03:07,400 --> 00:03:09,680 Speaker 7: different than what we saw from Walmart last week for 67 00:03:09,720 --> 00:03:11,960 Speaker 7: a couple reasons. One of them has to do with 68 00:03:12,040 --> 00:03:15,400 Speaker 7: the fact that Target sells more discretionary items to consumers 69 00:03:15,800 --> 00:03:18,480 Speaker 7: rather than groceries, whereas Walmart has about fifty percent of 70 00:03:18,480 --> 00:03:21,959 Speaker 7: its sales as groceries, so those are not discretionary items. 71 00:03:21,960 --> 00:03:24,160 Speaker 7: Consumers have to buy those things, so it buffers in 72 00:03:24,160 --> 00:03:27,519 Speaker 7: an environment such as this. Target said Wednesday it expects 73 00:03:27,560 --> 00:03:30,440 Speaker 7: net sales to decline by a low single digit this year, 74 00:03:30,440 --> 00:03:33,400 Speaker 7: down from previous guidance for an increase of about one percent. 75 00:03:33,520 --> 00:03:36,160 Speaker 7: Questions also being raised about Brian Cornell's tenure at the. 76 00:03:36,080 --> 00:03:38,440 Speaker 6: Company and the turnaround here. What's that? What's going on 77 00:03:38,480 --> 00:03:39,240 Speaker 6: by Brian Cornell? 78 00:03:39,320 --> 00:03:41,040 Speaker 7: Well, look, in twenty twenty two, they said he'd be 79 00:03:41,040 --> 00:03:44,640 Speaker 7: there for at least three more years, and he's had 80 00:03:44,640 --> 00:03:46,800 Speaker 7: many years. He's been there since twenty fourteen. He's a 81 00:03:46,880 --> 00:03:48,720 Speaker 7: veteran of Walmart. He was the head of Sam's Club 82 00:03:48,800 --> 00:03:52,320 Speaker 7: at Walmart. He's at PEPSI also got a great pedigree 83 00:03:52,360 --> 00:03:55,240 Speaker 7: he did. Have you looked at Don't you feel like 84 00:03:55,320 --> 00:03:58,360 Speaker 7: I've been having this story of this conversation about Target's 85 00:03:58,360 --> 00:03:59,120 Speaker 7: turnaround for years. 86 00:03:59,160 --> 00:04:01,080 Speaker 6: At this point, yes, do one percent. 87 00:04:01,600 --> 00:04:04,000 Speaker 5: I had inventory issues in COVID, then it was the 88 00:04:04,040 --> 00:04:07,240 Speaker 5: DEI issues. There's been some issue after issue that's Target 89 00:04:07,320 --> 00:04:10,000 Speaker 5: specific in many ways, and then not the macro, which 90 00:04:10,040 --> 00:04:10,880 Speaker 5: is also a problem. 91 00:04:10,960 --> 00:04:12,360 Speaker 6: I just want to put this into perspective. 92 00:04:12,400 --> 00:04:15,480 Speaker 1: Over the last twelve months, share the down forty percent, 93 00:04:15,840 --> 00:04:18,760 Speaker 1: Walmart shares are up forty eight percent. You go, you've 94 00:04:18,800 --> 00:04:20,720 Speaker 1: picked any sort of their other competitors, where at it's 95 00:04:20,720 --> 00:04:25,000 Speaker 1: the dollar stores, BJ's Costco. You also see similar extreme 96 00:04:25,600 --> 00:04:27,200 Speaker 1: underperformance relative to some of those. 97 00:04:27,240 --> 00:04:29,480 Speaker 7: You can't say it's all because the discretionaries not having 98 00:04:29,480 --> 00:04:30,120 Speaker 7: growth exact right. 99 00:04:30,360 --> 00:04:31,600 Speaker 6: I don't think it's cool anymore. 100 00:04:31,680 --> 00:04:32,839 Speaker 3: I used to love when it used to do the 101 00:04:32,880 --> 00:04:35,080 Speaker 3: designer collaborations, and it was kind of fun and they 102 00:04:35,080 --> 00:04:37,400 Speaker 3: would have people line up ye hours. 103 00:04:37,640 --> 00:04:38,560 Speaker 6: They just I don't know. 104 00:04:38,600 --> 00:04:39,960 Speaker 3: I go in there and I feel like it's the 105 00:04:40,000 --> 00:04:41,160 Speaker 3: same old stuff. 106 00:04:41,880 --> 00:04:43,640 Speaker 5: Yeah, and just maybe a little bit more expensive. 107 00:04:43,760 --> 00:04:46,000 Speaker 6: I was just going to say that you get more expensive, 108 00:04:46,040 --> 00:04:46,440 Speaker 6: you never. 109 00:04:46,400 --> 00:04:48,240 Speaker 3: Leave Target without at least spending one hundred hundred and 110 00:04:48,240 --> 00:04:48,720 Speaker 3: fifty dollars. 111 00:04:48,760 --> 00:04:50,960 Speaker 6: True, you want to hit yields alex oh, I do 112 00:04:51,080 --> 00:04:51,920 Speaker 6: yes yields. 113 00:04:52,080 --> 00:04:53,600 Speaker 5: They moved higher. It was the big story of the 114 00:04:53,680 --> 00:04:55,839 Speaker 5: day that twenty year failed auction. They were already trading 115 00:04:55,839 --> 00:04:58,039 Speaker 5: heavy on the back end before the auction, but after 116 00:04:58,080 --> 00:05:00,719 Speaker 5: that auction, you definitely saw a I hired the thirty 117 00:05:00,760 --> 00:05:02,760 Speaker 5: year yield now the highest levelce in October of twenty 118 00:05:02,760 --> 00:05:05,240 Speaker 5: twenty three. Did not see buyers come in once the 119 00:05:05,279 --> 00:05:06,719 Speaker 5: thirty year breached the five percent. 120 00:05:06,839 --> 00:05:09,720 Speaker 1: All right, well, speaking of a spike, Hire Shares a snowflake, 121 00:05:09,920 --> 00:05:12,200 Speaker 1: the enterprise software company that's been trying to turn itself 122 00:05:12,200 --> 00:05:14,520 Speaker 1: into an AI company up three percent in the after 123 00:05:14,560 --> 00:05:17,840 Speaker 1: hours trade after just reporting earnings. First quarter revenue did 124 00:05:17,880 --> 00:05:20,480 Speaker 1: beat at about one point oh four billion. First quarter 125 00:05:20,520 --> 00:05:23,400 Speaker 1: adjusted diluted EPs also beat at about twenty four cents 126 00:05:23,400 --> 00:05:25,920 Speaker 1: a share. The company says that for the second quarter 127 00:05:26,279 --> 00:05:28,760 Speaker 1: it is expecting revenue in the range basically a one 128 00:05:28,760 --> 00:05:30,760 Speaker 1: point oh four so no real range here, but that 129 00:05:30,920 --> 00:05:34,520 Speaker 1: is above the average of analyst estimates by just a here. 130 00:05:34,760 --> 00:05:37,159 Speaker 1: The company also saying that for the full year it 131 00:05:37,240 --> 00:05:40,160 Speaker 1: expects its product revenue to be four point three to 132 00:05:40,160 --> 00:05:43,080 Speaker 1: three billion. That's an upgrade from its previous forecast a 133 00:05:43,120 --> 00:05:45,720 Speaker 1: four point two eight billion and above street estimates of 134 00:05:45,800 --> 00:05:48,360 Speaker 1: four point two nine. The shares now well six percent 135 00:05:48,400 --> 00:05:49,360 Speaker 1: in the after hours trade. 136 00:05:49,400 --> 00:05:52,760 Speaker 4: All right, let's look at Urban Outfitters, the specialty apparel company. 137 00:05:53,040 --> 00:05:55,440 Speaker 4: Net sales for the first quarter beat analyst estimates, and 138 00:05:55,440 --> 00:05:57,839 Speaker 4: if you look at the two biggest brands, Urban Outfitters 139 00:05:57,839 --> 00:06:01,080 Speaker 4: itself and Anthropology, those numbers also coming in better than 140 00:06:01,120 --> 00:06:05,560 Speaker 4: anticipated segment sales, so comparable sales up two point one 141 00:06:05,560 --> 00:06:08,839 Speaker 4: percent when analysts were looking for a drop. No indication 142 00:06:08,960 --> 00:06:11,359 Speaker 4: yet of the outlook, so that'll be perhaps in the 143 00:06:11,360 --> 00:06:14,039 Speaker 4: earnings call with any kind of commentary about tariffs and 144 00:06:14,080 --> 00:06:14,440 Speaker 4: all of that. 145 00:06:14,520 --> 00:06:17,120 Speaker 3: All right, one more before we bail out. Here, I 146 00:06:17,200 --> 00:06:20,080 Speaker 3: got Zoom Communications. It's bouncing around the aftermarket up about 147 00:06:20,080 --> 00:06:22,480 Speaker 3: one and a half percent here. This after the company 148 00:06:22,480 --> 00:06:25,120 Speaker 3: came out and boosted its revenue guidance for the full year, 149 00:06:25,160 --> 00:06:28,400 Speaker 3: the guidance beating the average analyst estimate, and it also 150 00:06:28,480 --> 00:06:30,360 Speaker 3: sees a just a dps five fifty six to five 151 00:06:30,480 --> 00:06:32,760 Speaker 3: fifty nine. Had seen five thirty four to five thirty 152 00:06:32,800 --> 00:06:34,080 Speaker 3: seven estimates five thirty six. 153 00:06:34,200 --> 00:06:36,760 Speaker 6: So that's bouncing around up about two percent, and just 154 00:06:36,760 --> 00:06:37,880 Speaker 6: real quickly before you go. 155 00:06:38,080 --> 00:06:41,360 Speaker 1: Keryl Luhman shares right now smiking more than twenty percent. Here, 156 00:06:41,440 --> 00:06:43,640 Speaker 1: the main headline at and T is going to buy 157 00:06:43,720 --> 00:06:45,880 Speaker 1: Lumen's mass markets fiber business. 158 00:06:45,960 --> 00:06:47,400 Speaker 6: OH shares a lot more than twenty percent. 159 00:06:48,560 --> 00:06:52,600 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 160 00:06:52,680 --> 00:06:55,240 Speaker 2: us throughout the day for the latest roundup of companies 161 00:06:55,320 --> 00:06:58,400 Speaker 2: making news on Wall Street and for the latest market 162 00:06:58,440 --> 00:07:02,880 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 163 00:07:03,000 --> 00:07:06,480 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 164 00:07:06,560 --> 00:07:08,039 Speaker 2: the Bloomberg Business app.