Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market harnessing the power of Bloomberg data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Tom Keen with Bos Sweeny and Bloomberg's Alexis kristaf Well.
Speaker 4: How lovely because my first stock is Dell, and the
Speaker 4: stock is soaring here in the pre market. It's up
Speaker 4: thirty four percent. But guess what it was doing better
Speaker 4: even earlier when it was up forty percent. So after
Speaker 4: yesterday's closing, Bell Dell came out with earnings and sales
Speaker 4: that were much better than expected. In fact, sales were
Speaker 4: up eighty eight percent year over year growth. I think
Speaker 4: that's the best sales year since the company went public
Speaker 4: again remember that back in twenty eighteen. Now, Dell also
Speaker 4: out with an annual sales outlook that far surpassed analyst estimates.
Speaker 4: And you know what's fueling it because when I think Dell,
Speaker 4: I don't know about you, but I think PCs right, Nope,
Speaker 4: servers that are firing up AI. So even Dell is
Speaker 4: now an artificial intelligence play.
Speaker 3: My brother is a big shot in this and he said,
Speaker 3: the single biggest thing is you must by computing power.
Speaker 4: Oh yeah, to be in the game.
Speaker 3: Every house at the SaaS our house. They're buying three
Speaker 3: Apple products this month.
Speaker 1: I'm a stranger to compute Tom. I me and we
Speaker 1: have a lot of different devices around and I think
Speaker 1: I'm paying for like half of I don't know whatever.
Speaker 4: Between that and the streaming services.
Speaker 3: I don't know exact.
Speaker 4: Okay, let's go to Gap, shall we? Because not a
Speaker 4: great day for Gap shareholders. The stock is down about
Speaker 4: sixteen percent. I remember, it's much more than just Gap.
Speaker 4: And by the way, it's not the Gap. And people go,
Speaker 4: I'm going to go to the Gap. It's Gap fall
Speaker 4: into the Gap. Remember that campaign.
Speaker 3: We call it the Gap?
Speaker 4: All right? You know I like to be correct. So
Speaker 4: our Gap owns Banana Republic, Old Navy an Athleta. And
Speaker 4: the problem here has been Old Navy revenue outlook one
Speaker 4: to two percent growth after sales and the Old Navy
Speaker 4: brand slowed down. They said people are just not connecting
Speaker 4: with a lot of the merchandise. They thought there would
Speaker 4: be better sales of some of its spring and addresses
Speaker 4: that is not happening, and also Athleta, that's that ath
Speaker 4: leisure retailer. Sales there down eleven percent last quarter. Gap
Speaker 4: itself actually saw sales jump ten percent and been out
Speaker 4: a republic doing okay for the company, But overall Old
Speaker 4: Navy continues to be a drag on a GAP and
Speaker 4: we're seeing that in the stock price today. Stock is
Speaker 4: also down about two percent year to date.
Speaker 1: I see right now. Yeah, shares of competitor, American Ego
Speaker 1: Outfitters has also just had a double dig drop, so
Speaker 1: I guess it's kind of spreading out into the wise.
Speaker 4: Yeah, the earnings were just not spectacular from these companies.
Speaker 4: All right, Let's move over back to tech net app
Speaker 4: rallying twenty percent. This is the data storage provider reported
Speaker 4: its latest earnings with a strong print showing strong growth.
Speaker 4: The stock jumped after the enterprise data storage company reported
Speaker 4: results that were better not only on the top and
Speaker 4: bottom lines, but also it's outlook and that's really right.
Speaker 4: What we're what we're always focusing on is what are
Speaker 4: you going to do for me in the future? And
Speaker 4: that's also strong.
Speaker 3: It's up forty percent. Is the red Sox one three
Speaker 3: in a row. I mean, I can't I just can't
Speaker 3: keep up. Good morning, San Jose, eleven thousand, seven hundred, Like,
Speaker 3: what's their starting salary? Like three hundred thousand a year.
Speaker 1: It's got to be something crazy.
Speaker 3: It's like it's got George Curry and rob Shift net App.
Speaker 3: I love that you do this, Alexis, I mean the
Speaker 3: net App. I mean the bottom line is this is
Speaker 3: what our guests are talking about. What do you do
Speaker 3: after you own the top seven stocks?
Speaker 1: I mean?
Speaker 3: Right?
Speaker 4: And a lot of people are saying this thing, this
Speaker 4: rally needs to broaden out. But just really quick on
Speaker 4: net app. Earnings up twenty six percent year over year,
Speaker 4: sales up twelve percent, and it expects sales of one
Speaker 4: point eight billion in the current quarter. So enviable position
Speaker 4: there for net app. Do you want one more suck? Autodesk?
Speaker 1: All right?
Speaker 4: Autodesk down seven percent. It's an engineering software maker. It
Speaker 4: agreed to buy maintain X. This is a cash deal
Speaker 4: worth three point six billion dollars. They're going to use
Speaker 4: about one point six billion in cash and then borrow
Speaker 4: the rest. But Wall Street says, look, it's an expensive deal,
Speaker 4: but this is a strong strategic move for Autodesk.
Speaker 2: This stock movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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