WEBVTT - Snowflake, Dollar Tree, Ford All Jump

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Eight weeks in a row of consecutive gains for the

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<v Speaker 3>Benchmark index is another record after record after record this week,

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<v Speaker 3>and it looks like we could put in the ninth

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<v Speaker 3>week of games now and some of the stocks that

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<v Speaker 3>we're following for you have been soaring.

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<v Speaker 4>Soaring, yeah, into the stratosphere.

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<v Speaker 3>Let's talk about that with Isabelle, Bloomberg News Cross Asset

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<v Speaker 3>reporter and my good friend, I tell you what I

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<v Speaker 3>overnight was thinking about Snowflake, and this morning it has

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<v Speaker 3>been one of the most important stories because the narrative

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<v Speaker 3>over the last year has been that AI is going

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<v Speaker 3>to eat software's lunch, and this company has has been

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<v Speaker 3>hit with those fears. But now it turns out AI

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<v Speaker 3>is going to push it into the stratospheres, become an

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<v Speaker 3>absolute tailwind. And because of the deal with Amazon, they

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<v Speaker 3>were off like what forty percent today.

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<v Speaker 1>Almost forty percent. The pie is getting bigger met But

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<v Speaker 1>why were you thinking of Snowflake?

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<v Speaker 4>That's what I wonder.

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<v Speaker 1>Why are you super your dedication to this job.

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<v Speaker 3>Because the producer Talia sends us notes that show notes

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<v Speaker 3>the night before and she included the Snowflake.

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<v Speaker 2>Story and I was like, wow, that's awesome.

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<v Speaker 1>Okay, so the Snowflake ticker snow They also won there,

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<v Speaker 1>They're up forty percent. They led a broad rally of

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<v Speaker 1>software companies. They reported results that beat estimates and raised

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<v Speaker 1>the full year forecast. So that's the most in five years.

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<v Speaker 1>And Snowflake is a maker of software that helps organize, analyze,

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<v Speaker 1>store corporate data. I feel like maybe you don't encounter

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<v Speaker 1>with day to day, but it's a very important company

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<v Speaker 1>on the back end. And you're right, the company gave

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<v Speaker 1>us wronger than expected outlook. Product rebelinue will increase thirty

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<v Speaker 1>one percent. That's an increase from previous outlook. Product sales

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<v Speaker 1>makeup about ninety percent of the company's total revenue. And

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<v Speaker 1>they also made a commitment to spending and additional six

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<v Speaker 1>billion dollars to Amazon US. You alluded, so lots of

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<v Speaker 1>good news there. They're really writing the tailwinds. I think

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<v Speaker 1>the pies getting bigger. It's not just the Magnificent seven

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<v Speaker 1>who's going to benefit.

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<v Speaker 3>One of the silliest names though, don't.

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<v Speaker 4>Yeah it is, but you know what you remember it,

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<v Speaker 4>so I see smart marketing.

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<v Speaker 3>It's an insult to call someone a snowflake, right, that's

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<v Speaker 3>in They're trying.

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<v Speaker 4>To change that narrative out there, Matt, I mean Mongo dB. Yeah,

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<v Speaker 4>there is a name, is a worse name.

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<v Speaker 1>We come on, poor Mongo dB.

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<v Speaker 4>They chose that name for themselves, we did. All right,

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<v Speaker 4>let's go to Dollar Tree because really, Matt and I

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<v Speaker 4>were talking earlier, their name doesn't really hold true anymore

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<v Speaker 4>to what they do because a lot of their products

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<v Speaker 4>that they sell are not for a dollar or not.

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<v Speaker 1>For a dollar anymore. The stock is up by around

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<v Speaker 1>eighteen percent. Company also reported better than expected result and

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<v Speaker 1>boosted EPs guidance. But yes, they shifted away from a

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<v Speaker 1>dollar items. Honestly, where can you find that. I was

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<v Speaker 1>just talking about a dollar pizza yesterday, and if you

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<v Speaker 1>gave me a pizza worth a dollar, I would not

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<v Speaker 1>eat it.

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<v Speaker 4>It should because something's wrong.

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<v Speaker 3>Y d LTR is the multi dollar Tree.

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<v Speaker 1>Yeah, DLTR is the ticker.

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<v Speaker 4>But I guess that's part of the deal. Now they're

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<v Speaker 4>selling items for more, yes, so each basket is bringing

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<v Speaker 4>in more money.

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<v Speaker 1>Yes, and they're looking to attract wealthier customers looking for

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<v Speaker 1>deals at a time of economic uncertainty. I mean, if

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<v Speaker 1>you're wealthy and your shop and Dollar Tree, I mean

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<v Speaker 1>there's really something up there. And I feel like, again

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<v Speaker 1>it's the k shape economy, right, the wealthy is spending

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<v Speaker 1>the lower income or not. But this actually, I guess

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<v Speaker 1>contrast that narrative because again, why would you be shopping

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<v Speaker 1>a Dollar Tree.

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<v Speaker 4>But still because they saw a decline in customer traffic,

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<v Speaker 4>but they're getting shoppers to spend more. Right, that's the

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<v Speaker 4>bottom for.

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<v Speaker 3>Come entry less often, but spend more money when you

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<v Speaker 3>do come on each visit. You must shop occasionally at

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<v Speaker 3>discount change just for fun. Right Do you never go

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<v Speaker 3>into like TJ Max and just go through.

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<v Speaker 4>I've gone to a family is it family Dollar? Gone

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<v Speaker 4>into a family Dollars? Sometimes they have such a neglected

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<v Speaker 4>group of products. You can almost find anything these stores.

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<v Speaker 1>I give Jeff Bezos all my money. Everything is delivered.

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<v Speaker 1>So Dollar Tree they've shifted away from one dollar. They're

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<v Speaker 1>now three to five dollars, so it's still affordable, but

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<v Speaker 1>definitely not a Dollar Tree brand anymore. They have a

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<v Speaker 1>lot of toys and party supplies. I don't even think

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<v Speaker 1>I've been to a Dollar Tree, even if they're nine

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<v Speaker 1>thousand locations.

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<v Speaker 4>Nope, I've never been to one either.

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<v Speaker 3>But I wouldn't not go in. You know.

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<v Speaker 2>Yeah.

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<v Speaker 4>What I'm not here is we're going to do the show.

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<v Speaker 4>We're going to do the show from a Dollar Tree

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<v Speaker 4>one day.

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<v Speaker 3>I just have a field trip much more of my

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<v Speaker 3>money with the Ford Motor Company, and they have had

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<v Speaker 3>a stellar run, not because of the cars and trucks

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<v Speaker 3>that I buy, but because of big batteries.

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<v Speaker 1>I know, I chose this for you because I knew

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<v Speaker 1>you would be here.

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<v Speaker 4>I knew she did that.

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<v Speaker 1>Doc is up five percent, seventh straight day of gains.

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<v Speaker 1>That's longest stretch since July twenty twenty four, and it's

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<v Speaker 1>outperformed Tesla.

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<v Speaker 2>This stock Movers report from Bloomberg Radio. Check back with

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