WEBVTT - Closing Bell: Meta Gains, GE Vernova Price Target Raised, Intel Shelves Networking Spin-Off 0:00:02.520 --> 0:00:07.040 Bloomberg Audio Studios, Podcasts, radio news. 0:00:09.880 --> 0:00:13.320 This is the closing bell on this stock movers report 0:00:13.560 --> 0:00:16.520 the company's making moves at the close of US trading 0:00:16.760 --> 0:00:21.360 with Carol Masser, Tim Stenovak, Romain Bostic and Scarlet Food. 0:00:22.440 --> 0:00:24.480 All right, S ANDV five two hundred and fifty two 0:00:24.560 --> 0:00:26.800 names to the upside folks. You've got two hundred and 0:00:26.800 --> 0:00:29.600 forty nine losing ground too unchanged. 0:00:30.040 --> 0:00:31.960 And we take a look at the imap, the circle 0:00:32.000 --> 0:00:34.559 as Katie Greifeld will call it here, and it gets 0:00:34.600 --> 0:00:36.800 to this idea here of the rotation that we've seen 0:00:36.880 --> 0:00:39.320 over the past few sessions, this idea that it is 0:00:39.400 --> 0:00:42.280 industrials and it is energy and financials that have been 0:00:42.360 --> 0:00:44.240 leading the charge. Tech did get a bit in there, 0:00:44.240 --> 0:00:46.279 bullshit point out A big part of the reason why 0:00:46.320 --> 0:00:48.360 you see Tech in the green today is because of 0:00:48.400 --> 0:00:50.240 that big push up by Meta. 0:00:50.400 --> 0:00:52.040 All Right, so let's go there because that is my 0:00:52.120 --> 0:00:54.640 number one gainer. You can see it playing out. It 0:00:54.680 --> 0:00:56.360 is the number one gainer in fact in the Nasdaq 0:00:56.400 --> 0:00:59.120 one hundred stock finishing off its highs that its TIES 0:00:59.200 --> 0:01:01.800 was up about five point seven percent, but finishing with 0:01:01.880 --> 0:01:03.480 a gain of about three and a half percent for 0:01:03.520 --> 0:01:07.000 the Thursday Trade that exclusive by our own Kurt Wagner 0:01:07.240 --> 0:01:10.119 on how Mark Zuckerberg is expected to cut resources when 0:01:10.160 --> 0:01:12.560 it comes to building out the Metaverse. Remember back in 0:01:12.600 --> 0:01:14.840 twenty twenty one, that's what it was all about. They 0:01:14.920 --> 0:01:17.840 changed the company name. It was going to be the 0:01:17.840 --> 0:01:20.520 future of the company. Sounds like they are dialing that back. 0:01:20.640 --> 0:01:24.119 Executives have apparently discussed potential budget cuts as much as 0:01:24.160 --> 0:01:26.880 thirty percent for the Metaverse group next year, and that could. 0:01:26.959 --> 0:01:28.960 Just see the joke online. Now everybody's trying to buy 0:01:29.040 --> 0:01:31.280 up domain names that they think Meta's going to them 0:01:31.280 --> 0:01:33.080 when they change their name to something ai. 0:01:33.319 --> 0:01:34.080 Has it occurred? 0:01:34.120 --> 0:01:35.800 Do you think it's going to be Meta AI? And 0:01:35.840 --> 0:01:37.240 he's like, I don't even know why not. 0:01:37.520 --> 0:01:39.320 I've cost a couple hundred bucks and may make a 0:01:39.360 --> 0:01:39.840 few million. 0:01:40.120 --> 0:01:40.880 I love, I love. 0:01:40.920 --> 0:01:43.479 All right, let's go to Dollar General. As you mentioned, Romaine, 0:01:43.480 --> 0:01:45.080 we are still getting earnings. We got a lot of 0:01:45.080 --> 0:01:48.040 that from the retail community this week. This talk pretty 0:01:48.080 --> 0:01:49.840 much finishing at its best levels of the day of 0:01:49.960 --> 0:01:52.120 fourteen percent, number one gainer in the S and P 0:01:52.280 --> 0:01:55.800 five hundred dollar General raising it's full your outlook, highlighting 0:01:55.920 --> 0:01:59.040 value focused retailers are winning over consumers hunting for deals. 0:01:59.080 --> 0:02:02.480 So interesting when you see people looking for deals, maybe 0:02:02.480 --> 0:02:05.000 trading down even at a dollar. General they did cite 0:02:05.000 --> 0:02:08.240 some share gains in both its consumable and non consumable categories, 0:02:08.240 --> 0:02:12.760 suggesting its low cost groceries are winning over customers. And 0:02:12.760 --> 0:02:15.920 then one more something a little different, ge Veranova. This 0:02:16.080 --> 0:02:18.160 was a top gainer in the S and P five hundred, 0:02:18.520 --> 0:02:21.480 up about four and a half percent. Barklay's analyst coming 0:02:21.480 --> 0:02:25.400 out maintaining an overweight, raising the price target from seven 0:02:25.480 --> 0:02:28.640 ten to seven twenty. Some company news they won a 0:02:28.720 --> 0:02:31.840 repeat wind turbine order from Greenvilt in Romania. I just 0:02:31.880 --> 0:02:35.080 thought i'd throw that in a little extra Stuck is 0:02:35.160 --> 0:02:39.040 up about ninety three percent year today, So talk about 0:02:39.040 --> 0:02:40.440 some outperformance here. 0:02:40.720 --> 0:02:43.839 Yeah, well, how about a little underperformance because I'm looking 0:02:43.880 --> 0:02:46.840 at the decliners. Intel leading the pack there for the 0:02:46.880 --> 0:02:48.160 S and P five hundred to day. Not a great 0:02:48.200 --> 0:02:50.359 day for Intel investors. Stock off about seven and a 0:02:50.400 --> 0:02:52.720 half percent, but you know what, it's still up about 0:02:52.720 --> 0:02:55.280 one hundred percent year to date, coming off a strong 0:02:55.560 --> 0:02:57.720 Q three numbers. But Intel says it's going to keep 0:02:57.760 --> 0:03:01.079 its networking division in House, So this reverses plans that 0:03:01.120 --> 0:03:02.840 it had to spin it off or sell a stake. 0:03:02.880 --> 0:03:05.640 And it also has ended talks with ericson which we 0:03:05.680 --> 0:03:08.600 know had been exploring a potential investment in the network 0:03:08.600 --> 0:03:12.240 and edge group there at Intel. So Intel down more 0:03:12.240 --> 0:03:15.840 than seven percent today. Also among the big decliners, Win 0:03:16.680 --> 0:03:19.320 not really winning today when Resorts there was a warning 0:03:19.320 --> 0:03:22.079 actually from Marriott earlier today. They were at a conference 0:03:22.120 --> 0:03:24.600 and Marriott was talking about possible weakness in the US 0:03:24.720 --> 0:03:28.560 market that sort of dragged travel related stocks down. Win 0:03:28.760 --> 0:03:31.800 was one of them. But also when Resorts told investors 0:03:31.840 --> 0:03:34.840 that almost ninety percent of revenue from its new UAE 0:03:35.120 --> 0:03:38.320 project could come from gambling. So I don't know if 0:03:38.360 --> 0:03:40.680 people love the fact that so much of it, so 0:03:40.760 --> 0:03:42.240 much of revenue is going to be you. 0:03:42.160 --> 0:03:43.360 Know, everybody loves gambling. 0:03:43.400 --> 0:03:46.080 It seems we're getting casinos here in New York. So yeah, 0:03:46.080 --> 0:03:47.760 I think you're right by the way. So when off 0:03:47.800 --> 0:03:50.080 more than four percent on the day. Also down about 0:03:50.120 --> 0:03:54.560 four percent Kroger today, it cut its sales guidance. Shoppers 0:03:54.600 --> 0:03:57.680 get choosier. We keep hearing this theme increase competition from 0:03:57.680 --> 0:03:59.840 places like Walmart. Also, they're going to go back to 0:04:00.040 --> 0:04:03.080 paper coupons at Kroger, and they're also going to expand 0:04:03.080 --> 0:04:04.240 their private lys. 0:04:04.280 --> 0:04:08.160 We repeat that I missed that part of dark. That's 0:04:08.200 --> 0:04:08.680 the future. 0:04:08.840 --> 0:04:10.360 Yeah, I don't get your scissors out. 0:04:10.520 --> 0:04:11.760 Everything old is new again. 0:04:11.880 --> 0:04:16.080 I guess, okay, well, I guess my grandmother's charting. All right, 0:04:16.240 --> 0:04:18.880 let's take a quick look at yields. Another move higher 0:04:19.040 --> 0:04:20.880 pretty much across the curve today. I guess you could 0:04:20.920 --> 0:04:22.720 kind of call it a parallel shift three to four 0:04:22.760 --> 0:04:25.200 basis points pretty much from top to bottom. And I think, 0:04:25.200 --> 0:04:27.000 Alexis you kind of hit it on the head a 0:04:27.040 --> 0:04:29.159 little bit earlier, this idea that this is a market 0:04:29.200 --> 0:04:32.040 right now, kind of in waiting for next week, next Wednesday, 0:04:32.040 --> 0:04:34.359 where we do get that FED decision almost near certainty, 0:04:34.520 --> 0:04:36.880 we get a twenty five basis point cut. But more importantly, 0:04:37.040 --> 0:04:39.280 what comes after that, not just with RAKE cuts, but 0:04:39.360 --> 0:04:40.560 of course with FED leadership. 0:04:40.560 --> 0:04:42.560 All right, let's go to some earnings crossing again. The 0:04:42.560 --> 0:04:48.000 retailers continue to report. I think this is where Romain shops. 0:04:48.320 --> 0:04:50.839 Zoomies up about eight and a quarter percent. 0:04:51.080 --> 0:04:54.560 My dog loves just saying they're hoodies. You know, they're 0:04:54.600 --> 0:04:55.400 all from Zoomies. 0:04:56.400 --> 0:04:58.279 I just want to quickly say third quarter net sales 0:04:58.279 --> 0:05:02.640 beating estimates, and so investors definitely running into this one remain. 0:05:02.480 --> 0:05:04.840 Stitch Fix Alta also crossing the wire right now, so 0:05:05.240 --> 0:05:08.479 too is Hewlett Packard Enterprise. The share is moving higher 0:05:08.520 --> 0:05:11.240 the knee jerk reaction after the release of the results, 0:05:11.320 --> 0:05:13.920 up about three percent. The company says that in its 0:05:13.960 --> 0:05:17.360 most recent quarter adsed DPS beat pretty handily sixty two 0:05:17.400 --> 0:05:19.720 cents of share. The street was looking for fifty eight cents. 0:05:19.920 --> 0:05:22.240 Server revenue a key metric that everybody has been keeping 0:05:22.240 --> 0:05:24.800 eye on coming in light four point four to six billion. 0:05:24.920 --> 0:05:27.800 The street was looking for four point seven billion if 0:05:27.800 --> 0:05:30.400 you round up now. Going forward, the company says that 0:05:30.480 --> 0:05:32.760 for the full fiscal year, this is the current year 0:05:32.800 --> 0:05:35.520 that we're in right now, it is raising that guidance 0:05:35.560 --> 0:05:39.120 four fiscal twenty twenty six here says ASTEDDPS will be 0:05:39.160 --> 0:05:41.279 in a range of two twenty five to two forty five. 0:05:41.560 --> 0:05:44.120 Had previously seen two twenty to two forty so basically 0:05:44.279 --> 0:05:47.320 raising that range by a nickel on both ends. As 0:05:47.320 --> 0:05:50.360 for revenue, nine to nine point four billion, and that 0:05:51.200 --> 0:05:54.480 actually is below street estimates. Nine billion to nine point 0:05:54.520 --> 0:05:57.040 four billion is the range that they're giving four revenue 0:05:57.080 --> 0:05:59.440 for the full year the street David was looking for 0:05:59.560 --> 0:06:00.440 nine point nine. 0:06:00.640 --> 0:06:03.279 All right, we've got Heulid Packard Enterprise just down about 0:06:03.320 --> 0:06:05.200 four ten seven percent. Let's go to Alta, which is 0:06:05.240 --> 0:06:07.680 up about one point six percent here in the after market. 0:06:07.720 --> 0:06:10.240 This company's been outperforming this year, up about twenty three 0:06:10.240 --> 0:06:13.359 percent year to date. Here's why investors are enthused in 0:06:13.400 --> 0:06:16.880 the after market. Alta sees fiscal year comp sales up 0:06:16.920 --> 0:06:19.280 four point four percent to four point seven percent. It 0:06:19.360 --> 0:06:21.640 had seen a rise of two and a half to 0:06:21.680 --> 0:06:24.200 three and a half percent, so that is certainly an 0:06:24.240 --> 0:06:27.200 upbeat forecast. Also sees fiscal year net sales of twelve 0:06:27.200 --> 0:06:30.279 point three billion. It had seen twelve billion to twelve 0:06:30.279 --> 0:06:32.960 point one, so, again upping its forecasts for fiscal year 0:06:33.000 --> 0:06:36.000 net sales, company says it sees fiscal year net news 0:06:36.040 --> 0:06:39.520 stores up sixty two point six percent. Had seen about 0:06:39.520 --> 0:06:42.599 sixty three percent. That sixty two point six smack in 0:06:42.680 --> 0:06:45.240 line with what the street's expecting. And just going back 0:06:45.279 --> 0:06:48.120 to third quarter third quarter EPs, big beat five to 0:06:48.160 --> 0:06:50.400 fourteen versus an estimate of four to sixty one. Third 0:06:50.440 --> 0:06:55.040 quarter net sales also beat two eighty six billion versus 0:06:55.080 --> 0:06:57.239 the estimate of two point seven to one billion. And guys, 0:06:57.240 --> 0:06:59.400 we've got Alta up about three point four percent. This 0:06:59.520 --> 0:07:01.760 was a subject to have a Bloomberg BusinessWeek cover story. Yes, 0:07:01.839 --> 0:07:03.599 they've been firing on all cylinders. 0:07:03.839 --> 0:07:05.839 All right, let's stay in the retail space. Stitch Fix, 0:07:05.960 --> 0:07:08.200 much smaller company out the sharezo get in a nice 0:07:08.200 --> 0:07:10.800 little pop. In the most recent quarter. The company still 0:07:10.840 --> 0:07:14.240 posting a loss, but revenue did come in slightly above expectations. 0:07:14.440 --> 0:07:16.960 As far as the forecast goes, the company says expect 0:07:17.280 --> 0:07:20.920 a first quarter loss. Excuse me. For the second quarter, 0:07:21.160 --> 0:07:23.080 the company is saying that it will actually flip that 0:07:23.200 --> 0:07:26.160 loss to a profit on a continuing basis. Also says 0:07:26.160 --> 0:07:28.920 that it sees revenue in the current fiscal second quarter 0:07:29.080 --> 0:07:31.080 of three thirty five to three hundred and forty the 0:07:31.120 --> 0:07:33.240 low end of that range, well above the average of 0:07:33.240 --> 0:07:33.880 street estimates. 0:07:33.920 --> 0:07:35.920 It's a huge week for retail earnings. And I think 0:07:36.120 --> 0:07:37.680 at a moment, we don't have a whole lot of data. 0:07:37.680 --> 0:07:40.160 We're getting data data as it comes in here. This 0:07:40.280 --> 0:07:42.720 inside that we get into the consumer is just fascinating. 0:07:42.760 --> 0:07:45.280 And again from both this company and from Ulti Beauty, 0:07:45.320 --> 0:07:47.640 you see that there is still willingness, it seems, among 0:07:47.680 --> 0:07:49.559 a lot of consumers to go out and buy stuff 0:07:49.600 --> 0:07:51.960 despite all uncertainting. Concerned about the economy. 0:07:52.840 --> 0:07:56.880 This stock mover's report from Bloomberg Radio. Check back with 0:07:56.960 --> 0:07:59.520 us throughout the day for the latest roundup of companies 0:07:59.600 --> 0:08:02.680 making news on Wall Street and for the latest market 0:08:02.720 --> 0:08:07.160 moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 0:08:07.280 --> 0:08:10.760 Bloomberg dot com, and on Applecarplay and Android Auto with 0:08:10.840 --> 0:08:12.320 the Bloomberg Business app.