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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market. Harnessing the power of Bloomberg Data.

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Speaker 3: It's time to take a look at some of the

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Speaker 3: stocks on the move today. We are joined by Bloomberg's

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Speaker 3: Valerie Titel. Valerie, thanks for joining me. I'm a big

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Speaker 3: week for retail earnings. Today we have Home Depot. Not

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Speaker 3: the best news from them, huh.

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Speaker 1: Yeah, not the best news for home Depot. The shares

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Speaker 1: actually fell as much as five percent in pre market

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Speaker 1: trade and after the release of these earnings, but they're

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Speaker 1: now traded basically back to flat, only down two tenths

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Speaker 1: of one percent. The sales number fell short of expectations,

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Speaker 1: and the reason why was Home Depot said that there

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Speaker 1: were soft demand for big ticket items. The CFO said

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Speaker 1: that they are seeing larger projects remain on hold as

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Speaker 1: economic uncertainty persist. Now these customers, he's saying, they're not

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Speaker 1: postponing projects. Sorry, they're post cosponing projects, not canceling them entirely,

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Speaker 1: as some customers wait for lower interest rates. So maybe

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Speaker 1: there's some hope on the horizon that if the FED

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Speaker 1: does cut interest rates and mortgage rates do decline that

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Speaker 1: there'll be a big boom in big ticket item sales

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Speaker 1: for Home Depot, but the company was able to maintain

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Speaker 1: pricing levels because most of its imported goods arrived before

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Speaker 1: the new tariffs. The CFO did warn that later in

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Speaker 1: the year some items will get more expensive, so perhaps

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Speaker 1: an inflation warning from the world's largest home improvement retailer.

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Speaker 4: That's Home Depot. It's now down four tenths of one percent.

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Speaker 3: So you tell me I need to make a home

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Speaker 3: Depot run.

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Speaker 4: Quick because I have some projects to take on.

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Speaker 3: We have some executive moves at Medtronic.

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Speaker 4: Who is this company and what's going on? It's a

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Speaker 4: medical device maker.

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Speaker 1: Have become a new target for active investor Elliott. Now,

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Speaker 1: the stock has been all over the place this morning.

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Speaker 1: When it was announced that Elliott did take this stake,

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Speaker 1: it was reported originally by the Wall Street Journal.

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Speaker 4: The stock jumped nine percent.

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Speaker 1: It's now in the red, down one and a half

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Speaker 1: after earnings, but it came with those earnings. Medtronic did

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Speaker 1: announce that they've named two new board members after Elliott

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Speaker 1: Investment Management became one.

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Speaker 4: Of its largest shareholders.

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Speaker 1: Elliott and the company have been holding talks about how

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Speaker 1: to boost the company's valuation, including new committees to focus

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Speaker 1: on M and A and divesting some assets. As per

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Speaker 1: the Wall Street Journal, the exact size of Elliott's steak

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Speaker 1: is unclear, but it marks another endeavor into the healthcare

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Speaker 1: space for Elliott, who previously focused more on technology and

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Speaker 1: energy companies.

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Speaker 3: And we also have a few headlines surrounding Intel that

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Speaker 3: has shares hire.

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Speaker 1: Shares Hire another positive catalyst for Intel. Shares are up

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Speaker 1: five point eight percent. SoftBank making a surprise bet on

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Speaker 1: Intel's revival, agreeing to purchase two billion dollars worth of

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Speaker 1: Intel stock to boost SoftBank's own chip ambitions. The Japanese

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Speaker 1: company also has Navidia and TSMC and its investment portfolio.

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Speaker 1: But the investment delivers a strong vote of confidence for

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Speaker 1: Intel and comes a day after Bloomberg reported that the

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Speaker 1: Trump administration is weighing turning it's Chip Act funding for

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Speaker 1: Intel into a ten percent equity stake in the business.

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Speaker 1: If you include the pre market move today, we have

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Speaker 1: now seen a twenty five percent rise in Intel since

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Speaker 1: the CEO met with Trump last Monday in the White House.

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Speaker 3: Wow, Valerie, thank you and finally the war in Ukraine

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Speaker 3: pushing up dronestocks.

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Speaker 1: Yeah, dronestocks are given a big boost this morning. AeroVironment

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Speaker 1: up three percent, Dragonfly up nearly four percent. Now, this

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Speaker 1: is on the back of an FT report that on

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Speaker 1: the back of these security guarantees that the US and

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Speaker 1: Ukraine are looking at a fifteen or sorry, a fifty

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Speaker 1: five zero billion dollar deal aiming to boost drone production

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Speaker 1: in Ukraine. So we're seeing the likes of these dronestocks

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Speaker 1: trade quite positively off.

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Speaker 4: The back of the geopolitical developments.

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Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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