Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: This is the closing bell on this stock movers report
Speaker 2: the company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenovak, Romain Bostik, and Scarlet Fool.
Speaker 3: All right, folks, you already have some earnings crossing the Bloomberg.
Speaker 3: Ternal'll just quickly go to at avis budget third quarter
Speaker 3: revenue slight b three and a half billion dollars. Street
Speaker 3: estimate was for three point forty five billion, and then
Speaker 3: just talking about third quarter, America's per unit fleet costs
Speaker 3: down twenty percent, so basically revenue meeting estimates. Let me
Speaker 3: just see what else we got. Yeah, that looks like
Speaker 3: what we've got so far. And we're looking at the
Speaker 3: stock unchanged here in the aftermarkets, so we'll keep an
Speaker 3: eye on it. Hey, S and P five hundred, let's
Speaker 3: go back there, record on Wall Street highs finishing near
Speaker 3: our highs of the session, Katie, three hundred and twenty
Speaker 3: two names in the S and P five hundred actually
Speaker 3: gaininground today one hundred and seventy eight to the downside.
Speaker 4: Three unchanged, And certainly when you take a look at
Speaker 4: the sectors, you saw that strong breadth as well. Nine
Speaker 4: sectors in the green that circle almost totally green. Two
Speaker 4: sectors in the red communication services, big tech, consumer discretionary.
Speaker 4: Those are some of your biggest gainers. When it comes
Speaker 4: to the sectors consumer staples and materials your loan. Two
Speaker 4: sectors in the red really points to this risk on
Speaker 4: appetite that enveloped this Monday session. As Romaine pointed out,
Speaker 4: materials being down could point to optimism over US China
Speaker 4: trade talks and consumer staples lower on the day being
Speaker 4: your biggest loser certainly bullish as well.
Speaker 3: All Right, lots agreeing there, So let's get to some
Speaker 3: individual gainers. Got to talk about Qualcom. Everybody talking about Qualcom,
Speaker 3: number one gainer in the S and P five hundred
Speaker 3: NASDAQ one hundred today up as much as almost twenty
Speaker 3: two percent intra day, finishing the day with a gain
Speaker 3: of eleven percent. Largest maker of smartphone processors, unveiling chips
Speaker 3: and computers for the lucrative AI data center market, and
Speaker 3: they really are looking to challenge Nvidia in the fastest
Speaker 3: growing part of the industry. So that definitely caught investors' attention.
Speaker 3: We got some more earnings from Maine.
Speaker 1: Yeah, let's just Cayden, since we're talking about chips, a
Speaker 1: big software design company used by a lot of the
Speaker 1: folks in the chip space. Here, EPs in the most
Speaker 1: recent quarter did beat a dollar ninety three the street
Speaker 1: was looking for a dollar seventy nine. Revenue in the
Speaker 1: most recent quarter also beat one point three to four billion,
Speaker 1: the street was looking for one point three two billion.
Speaker 1: And more importantly, here we talk about the growth in
Speaker 1: this company ten percent revenue growth on the top line,
Speaker 1: the bottom line decent growth there as well, about seventeen percent,
Speaker 1: and a widening of the operating margins to about forty
Speaker 1: seven point six percent. Here though, the shares are moving
Speaker 1: lower in the after hours trade, and here's why we're
Speaker 1: now taking a look at the guidance going forward for
Speaker 1: the full year. The company says it expects five point
Speaker 1: twenty six to five point twenty nine billion. It previously
Speaker 1: had a range a five point two to one to
Speaker 1: five point two seven billion. We'll try to get you
Speaker 1: some more details on this and try to explain why
Speaker 1: such a negative market reaction.
Speaker 4: Let's quickly get over to bed bath and beyond also
Speaker 4: reporting earnings as well. You can see the stock is
Speaker 4: moving higher after hours. That is because when it comes
Speaker 4: to third quarter net revenue that came in at two
Speaker 4: hundred and fifty seven point two million dollars, that is
Speaker 4: actually just shy of estimates, which had been for around
Speaker 4: two hundred and sixty million dollars. But then you take
Speaker 4: a look at the third quarter adjusted EBIT a loss
Speaker 4: that came in at four dollars and nine point ninety
Speaker 4: four million. The estimated loss had been for ten point
Speaker 4: five million dollars, so much better than expected when it
Speaker 4: comes to the expected loss, the third quarter adjusted EBIT
Speaker 4: a loss, and you can see shares flying right now.
Speaker 4: Carol now up ten percent after hours.
Speaker 3: Yeah, speaking of stocks flying in the aftermarket, I want
Speaker 3: to go back to AVS because that stock is up
Speaker 3: about nine percent here in the aftermarket. So investors liking
Speaker 3: some of what we got from the company, specifically third
Speaker 3: quarter adjusted EBIT really surpassing Wall Street estimates. We're looking
Speaker 3: at five hundred and fifty nine million dollars, up eleven
Speaker 3: percent year over year. Estimate was for five hundred and thirty
Speaker 3: eight point seven million, So we're seeing some strong numbers
Speaker 3: from that company and we're seeing it certainly move higher
Speaker 3: in the aftermarket. I'm going to go back to some
Speaker 3: individual gainers as we wait for some more earnings. Curig
Speaker 3: Doctor Pepper have to mention up seven point six percent
Speaker 3: of the close among your top gainers in both the
Speaker 3: S and P and the NASDAQ one hundred. Curig Doctor
Speaker 3: Pepper raising seven billion from Apollo and KKR to help
Speaker 3: finance its acquisition of JdE Petez MV, so you know,
Speaker 3: the company's planning to separate its beverage and coffee businesses
Speaker 3: by the end of twenty twenty six. Also reported their
Speaker 3: quarter sales of four point three billion, and then Cadence
Speaker 3: Bank just quickly a four point four percent here in
Speaker 3: today's session, that after Huntington Bank Shares agreed to buy
Speaker 3: the bank for seven point four billion. So we continue
Speaker 3: to see consolidation certainly among the regional banks out there.
Speaker 5: All right, Tim, over to you, well, if can go ahead.
Speaker 1: Sorry, just there was some news crossing the wire right now, Caryl.
Speaker 1: We talk about Citizens Bank first, Citizens excuse me, and
Speaker 1: Park National Bank a tie up there. That headline just
Speaker 1: crossing the wire.
Speaker 5: Every one of my movers to the downside this afternoon
Speaker 5: has to do with M and A or potential m
Speaker 5: and A here, I want to start with Newmont shares
Speaker 5: following today. This is the of course, the gold, copper, silver, zinc,
Speaker 5: and minor mining company down five point seven percent on
Speaker 5: the day. Gold declined today, Yes, down about eight point
Speaker 5: four percent from those all time highs earlier this month.
Speaker 5: But also Numan is studying a potential deal to gain
Speaker 5: control of rival Barrack Mining's Nevada gold assets that, according
Speaker 5: to people with knowledge of the matter, once again shares
Speaker 5: down at five point seven percent. I know, Romaine, we
Speaker 5: got some more earnings.
Speaker 1: Yeah, Whirlpool earnings out The company reporting net sales that
Speaker 1: looks like coming in above expectations about four point zero
Speaker 1: three billion dollars. The street was looking for three point
Speaker 1: nine to three ongoing EPs basically on a continuing basis
Speaker 1: two dollars and nine cents a share. The street on
Speaker 1: average was looking for about one point four dollars forty
Speaker 1: cents excuse me per share. Here, the company also says
Speaker 1: that for the full year it does see EPs of
Speaker 1: about seven dollars per shear. It had previously provided guidance
Speaker 1: of six to eight dollars per year, so basically now
Speaker 1: hitting in the middle of that guidance. In the middle
Speaker 1: of that guidance as seven dollars per share is higher
Speaker 1: than the average street estimates, which we're looking for about
Speaker 1: six dollars and forty one cents. You see a one
Speaker 1: percent pop here, Tim in the after hour straight.
Speaker 5: Yeah, I'm just looking through the press release looking for
Speaker 5: commentary from Mark Bitzer, somebody who I know you guys
Speaker 5: have spoken to quite a bit. We've spoken to him
Speaker 5: as well. He said that the fundamentals of the business
Speaker 5: remain strong. There's confident that the newly announced investment in
Speaker 5: our US based laundry facilities will continue to fuel our
Speaker 5: future growth. Jim Peters, though the CFO, saying that the
Speaker 5: third quarter results continue to be impacted by the inventory
Speaker 5: loading from Asia competitors. Though they're focusing on what is
Speaker 5: within our control and delivered cost takeout in line with expectations,
Speaker 5: puttingus on track to achieve approximately two hundred million dollars
Speaker 5: of cost takeout in twenty twenty five.
Speaker 4: Katie, Yeah, really interested to see some of the details
Speaker 4: coming from that earnings call, specifically a lot of different
Speaker 4: angles in which Whirlpool is interesting when it comes to
Speaker 4: consumer sentiment, but also when it comes to this company
Speaker 4: how they're managing that inventory. I will say you take
Speaker 4: a look at the shares down about thirty two percent
Speaker 4: through the close year to date, and then over the
Speaker 4: five year basis down fifty two percent. This is certainly
Speaker 4: a company that has had a rough golment.
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