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. I'm Tom Keen
Speaker 1: with Paul Sweeny and Bloomberg's Lisa Matteo.
Speaker 2: It's a podcast, Lisa, what do you think? All right?
Speaker 2: We got to start with Macy's, right, because their shares
Speaker 2: have been all over the map this morning, ticker M
Speaker 2: So the news seem good right off the started top
Speaker 2: third quarter earnings expectations, posted strongest same store sales growth
Speaker 2: in thirteen quarters. Boosted, it's full of your guidance for
Speaker 2: just as earnings per share. Right, it's net sales at
Speaker 2: Bloomingdale's rose, and that's actually gaining share from SAS Global,
Speaker 2: where sales are falling by double digits. It's bloom Mercury
Speaker 2: net sales rose. So the CEO said they're well positioned
Speaker 2: to enter the holiday season. But I think that's the issue.
Speaker 2: Investors wanted a little more from the holiday quarter. There
Speaker 2: were also a lot of positive reports back right, you
Speaker 2: know before this, so the bars up high. I'm done
Speaker 2: what's blue mercury, Blue mercury. Oh, that has all different
Speaker 2: things like perfumes and different smell stuff. Yes, okay, things
Speaker 2: like But that's the reason for that their shares are
Speaker 2: down more than seven percent. Of that because the bar
Speaker 2: was set so high because of these past earnings reports
Speaker 2: from other retailers. So that's why we've seen their shares
Speaker 2: start this morning higher and now they're back down down
Speaker 2: as much as seven percent. I want to stick with
Speaker 2: retail and go to American Eagle Outfitters. That's ticker AEO.
Speaker 2: Their shares have been up as much as twelve percent
Speaker 2: before they're open. They raise their comparable sales guidance, reported
Speaker 2: net revenue third quarter top estimate estimates American Eagle. They
Speaker 2: also own the Airy the Intimates brand too, so that
Speaker 2: that's part of them. They had a few changes, right,
Speaker 2: They revamped their apparel offering. They had this flashy advertising
Speaker 2: remember that, you know, campaign with actress Sidney Sweeney no
Speaker 2: relation to Paul Yes, oh Sidney Sweeney, yes, yeah, yeah,
Speaker 2: no relation, no relations. They also had a campaign with
Speaker 2: NFL star Travis Kelsey. So you know, they've had a
Speaker 2: couple things to kind of boost it and they needed
Speaker 2: the turnaround because it's moving away from this weakness earlier
Speaker 2: this year. I mean they pulled there full of your
Speaker 2: guidance back in May because of discounts and also that
Speaker 2: right down in inventory. So we covered retail. I want
Speaker 2: to get to technology a little. We'll move to Marvell
Speaker 2: Technology MRVL. Their shares up as much as fifteen percent,
Speaker 2: so who is Marvel?
Speaker 1: Right?
Speaker 2: So they help cloud computing companies like Amazon design custom
Speaker 2: chips to handle AI. That's what they do. Basically. The
Speaker 2: company announced plans to acquire startup Celestial AI for at
Speaker 2: least three and a quarter billion dollars, so that was
Speaker 2: good news there. It also posted strong quarterly results it's
Speaker 2: forecast so you add that together and that's why those
Speaker 2: shares have been a lot higher. They also reassort investor
Speaker 2: custom chip design is going to win repeat orders, so
Speaker 2: they kind of would you know this whole hoorah. They
Speaker 2: were pushing and saying that custom hip sales are going
Speaker 2: to increase twenty percent. You have one more he can bitcoin.
Speaker 2: I just want to touch on quickly ABTC. The reason
Speaker 2: I'm touching upon this is because yes, it's a cryptominer right,
Speaker 2: co founded by Eric Trump Yesterday, their shares dropped fifty
Speaker 2: one percent in twenty six minutes before the open. Though
Speaker 2: they're starting to recover and that's a story. Today, their
Speaker 2: shares are up about nine percent.
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