Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on the stock movers report
Speaker 2: the company's making moves at the close of US trading,
Speaker 2: with Carol Masser, Tim stenovek Romain Bostik, and Katie Greyfell.
Speaker 3: All right, let's get to some of the individual gainers,
Speaker 3: if I may, in today's session. So let's look at
Speaker 3: some of the stocks that actually were momentum performers as
Speaker 3: of late.
Speaker 1: And so take a look.
Speaker 3: You've got Western Digital, a high flyer last year, up
Speaker 3: another ten percent. You also had Seagate Technology that was
Speaker 3: up eight percent in today's session. You have Micron up
Speaker 3: almost nine percent. That was another one that gained almost
Speaker 3: two hundred and forty percent last year. And so just
Speaker 3: looking through some of the right through, especially when it
Speaker 3: comes to something like Western Digital and a few others.
Speaker 3: I did see a note by Evercore II actually was
Speaker 3: I think Investor's Business Daily pointing this out. We believe
Speaker 3: AI driven data demand remains fundamentally robust, providing a durable
Speaker 3: tail wind for the HDD market. Again, this is Evercore
Speaker 3: ISI writing in a note today. Crucially, the transition from
Speaker 3: AI training to inference could create a structural opening for HDDs,
Speaker 3: So nonetheless, I don't know momentum players getting some love
Speaker 3: on this Wednesday also getting love Intel This too was
Speaker 3: top in the S and P five hundred and the
Speaker 3: Nasdaq one hundred, again of just shy of nine percent.
Speaker 3: The chipmaker greed to pay fourteen point two billion to
Speaker 3: buy back half of a plant in Ireland, DA Davidson
Speaker 3: writing that the move bodes well for the company's turnaround story.
Speaker 3: Transaction financed with cash on hand and the issuance of
Speaker 3: about six and a half billion dollars in new debt.
Speaker 3: It is expected to add to the chip maker's earnings
Speaker 3: per share and kind of reflects Intel's growing confidence in
Speaker 3: its business and it's belief that its products can play
Speaker 3: a bigger role in the boom and spending on AI infrastructure.
Speaker 3: You probably don't do a deal like that unless you
Speaker 3: have some confidence that year outlook. And then here's an
Speaker 3: interesting AI data center play, kind of unexpected. THH is
Speaker 3: the ticker the company's target hospitality up about thirty six
Speaker 3: percent there staring as much as forty three percent intra day.
Speaker 3: It's a one point two billion dollar market cap provider
Speaker 3: of workforce, lodging and hospitality services, and they secured a
Speaker 3: multi year contract worth over five hundred and fifty million
Speaker 3: dollars to construct and provide comprehensive facility and hospitality services
Speaker 3: for a top five hyperscalers data center development in North Texas.
Speaker 3: So I guess they're going to be providing food and lodging.
Speaker 4: You got to feed the data center.
Speaker 2: Let's go to We've.
Speaker 3: Talked to workplace our housing people right who are doing
Speaker 3: workplace housing where like all this stuff is going on
Speaker 3: because workers need places to live. Anyway, there you go,
Speaker 3: big big mover.
Speaker 4: Had you had a lot of gainers to choose from.
Speaker 4: I had some decliners that stayed in the red all
Speaker 4: day today, which is great. I do want to start
Speaker 4: with shares a Nike falling today by more than fifteen percent.
Speaker 4: Late yesterday, the company gave this gloomy outlook for the
Speaker 4: year ahead. Revenue expected to decline two to four percent
Speaker 4: in the current quarter. Headwinds include all the stuff that
Speaker 4: we've talked about for years at this point, elevated inventories
Speaker 4: in Europe, in the Middle East, weakness in Greater China.
Speaker 4: Ni You CEO Elliott Hill said, the direction is clear
Speaker 4: and the foundation is getting stronger, but acknowledged that parts
Speaker 4: of the turnaround are taking longer than expected. We got
Speaker 4: a great story on the Bloomberg, lillly Meyer writing it
Speaker 4: up about getting a recording of a call that Elliott
Speaker 4: Hill had with staff yesterday and really trying to rally
Speaker 4: the troops, given that shares of this company are at
Speaker 4: lowe's not seen in more than a decade at this point,
Speaker 4: so trying to get some excitement and trying to get
Speaker 4: them to win, and also expressing his own frustration.
Speaker 2: Yeah, that was a.
Speaker 1: Great piece of reporting. I mean, if you have to
Speaker 1: imagine that, you know, if you're constantly in a state
Speaker 1: of turnaround and it doesn't seem like it's getting traction,
Speaker 1: especially when you take a look at the share price,
Speaker 1: that has to be a pretty killer for morale of
Speaker 1: the employees at that company.
Speaker 5: Well, also, Tim, were you what shoes were you wearing
Speaker 5: in October twenty four fourteen, the last time.
Speaker 2: The stock was this low?
Speaker 4: I don't even remember, good what was I don't even know, Like,
Speaker 4: what were they? I don't even know, Bailey, what were
Speaker 4: the nikes in twenty fourteen?
Speaker 1: I'm trying to think.
Speaker 5: I was probably in college. I was in college. He
Speaker 5: was also in college, so that was probably I wore
Speaker 5: spare in advance.
Speaker 4: That's another two out of you too. All right, we're
Speaker 4: going to keep going here. What else do we got
Speaker 4: on the decliner's menu today? How about a little more retail.
Speaker 4: Let's talk about our age. The company, formerly known as
Speaker 4: Restoration Hardware Ships felt today by more than nineteen percent.
Speaker 4: They were down as much as twenty three percent. They
Speaker 4: closed at their lowest levels going back to April of
Speaker 4: twenty twenty. Remember what happened then was we were in
Speaker 4: the demand shock of the COVID pandemic. We're in the
Speaker 4: depths of that. The company forecast revenue for their first
Speaker 4: quarter that missed the average analyst estimate. Analysts out and
Speaker 4: said that the forecast was pressured by execution supply chain disruptions. Also,
Speaker 4: an interesting note from an analyst over a City said
Speaker 4: the company lags peers in the home furnishings industry, and
Speaker 4: it also reflects a weaker European consumer demand environment. It'll
Speaker 4: be interesting to hear from more companies as we do
Speaker 4: get into the next quarter. Like I don't know the
Speaker 4: banks in a couple of weeks about what the demand
Speaker 4: environment is looking like in the United States. And finally,
Speaker 4: how about some French fries or potatoes that go to
Speaker 4: French fries. This is a Lamb Weston Holdings. They make
Speaker 4: frozen French fries from potatoes.
Speaker 5: Biggest customer McDonald's, Right, I had McDonald's for lunch.
Speaker 1: I tried that.
Speaker 4: The biggest customers making Grace shares felt to the lowest level.
Speaker 4: Going back to twenty seventeen, the company's full your forecast
Speaker 4: implied weaker than expected fourth quarter performance. They don't have
Speaker 4: your Did you get fries with that daily?
Speaker 1: I did?
Speaker 5: I got a medium fried. It was like five bucks, though,
Speaker 5: But I will say I tried the Arch. It's a
Speaker 5: ten dollars burger worth every penny it was.
Speaker 1: Was that the one that the COEO eight.
Speaker 4: I was just gonna say, should do an Instagram video
Speaker 4: about it? Basy next time?
Speaker 1: Maybe next time I'll do it.
Speaker 5: Tim.
Speaker 4: I'll get you one too, Thank you.
Speaker 1: Beautiful Tim. I don't know if he would eat an Arch.
Speaker 1: It doesn't seem like I had Chick fil A for
Speaker 1: the third day in a row. No one asked, but
Speaker 1: I'll tell you anyway. Let's talk about the bond market
Speaker 1: and what happened there. It was pretty quiet. Once again,
Speaker 1: you're seeing fireworks to the upside when it comes to
Speaker 1: the equity market. Can't say the same for the bond market.
Speaker 1: It's been kind of nonplus over the past two days.
Speaker 1: But nevertheless, the two year treasure yield, which barey highlighted earlier,
Speaker 1: arising CI about one basis point here, But then you
Speaker 1: take a look at the rest of the curve and
Speaker 1: there you go. The twenty year yield now unchanged as well,
Speaker 1: in addition to the thirty year yield, and I think
Speaker 1: you can go ahead and call the ten year treasure
Speaker 1: yield unchanged as well, though we are looking at fairly
Speaker 1: high absolute levels.
Speaker 3: Two quarter pound, four ounds, one hundred percent beef patties.
Speaker 5: That's March.
Speaker 3: That's a lot of beef.
Speaker 5: It's over one thousand calories, so I kind of felt
Speaker 5: a little bloated, but I walked around.
Speaker 3: They say it's thirteen heavy.
Speaker 1: Nothing like eating one thousand calories and then going on air.
Speaker 3: Oh, we can't talk about twelve metris Okay, I guess
Speaker 3: we can't talk about twelve metric tons of stolen Kitcat bars.
Speaker 3: Speaking of maybe we save it for tomorrow ahead of
Speaker 3: a big meal the holiday weekend.
Speaker 1: A lot of kickats going to be eaten over Easter weekend.
Speaker 2: And then sum This stockmover's report from Bloomberg Radio. Check
Speaker 2: back with us throughout the day for the latest roundup
Speaker 2: of companies making news on Wall Street and for the
Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch
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