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: Eight weeks in a row of consecutive gains for the
Speaker 3: Benchmark index is another record after record after record this week,
Speaker 3: and it looks like we could put in the ninth
Speaker 3: week of games now and some of the stocks that
Speaker 3: we're following for you have been soaring.
Speaker 4: Soaring, yeah, into the stratosphere.
Speaker 3: Let's talk about that with Isabelle, Bloomberg News Cross Asset
Speaker 3: reporter and my good friend, I tell you what I
Speaker 3: overnight was thinking about Snowflake, and this morning it has
Speaker 3: been one of the most important stories because the narrative
Speaker 3: over the last year has been that AI is going
Speaker 3: to eat software's lunch, and this company has has been
Speaker 3: hit with those fears. But now it turns out AI
Speaker 3: is going to push it into the stratospheres, become an
Speaker 3: absolute tailwind. And because of the deal with Amazon, they
Speaker 3: were off like what forty percent today.
Speaker 1: Almost forty percent. The pie is getting bigger met But
Speaker 1: why were you thinking of Snowflake?
Speaker 4: That's what I wonder.
Speaker 1: Why are you super your dedication to this job.
Speaker 3: Because the producer Talia sends us notes that show notes
Speaker 3: the night before and she included the Snowflake.
Speaker 2: Story and I was like, wow, that's awesome.
Speaker 1: Okay, so the Snowflake ticker snow They also won there,
Speaker 1: They're up forty percent. They led a broad rally of
Speaker 1: software companies. They reported results that beat estimates and raised
Speaker 1: the full year forecast. So that's the most in five years.
Speaker 1: And Snowflake is a maker of software that helps organize, analyze,
Speaker 1: store corporate data. I feel like maybe you don't encounter
Speaker 1: with day to day, but it's a very important company
Speaker 1: on the back end. And you're right, the company gave
Speaker 1: us wronger than expected outlook. Product rebelinue will increase thirty
Speaker 1: one percent. That's an increase from previous outlook. Product sales
Speaker 1: makeup about ninety percent of the company's total revenue. And
Speaker 1: they also made a commitment to spending and additional six
Speaker 1: billion dollars to Amazon US. You alluded, so lots of
Speaker 1: good news there. They're really writing the tailwinds. I think
Speaker 1: the pies getting bigger. It's not just the Magnificent seven
Speaker 1: who's going to benefit.
Speaker 3: One of the silliest names though, don't.
Speaker 4: Yeah it is, but you know what you remember it,
Speaker 4: so I see smart marketing.
Speaker 3: It's an insult to call someone a snowflake, right, that's
Speaker 3: in They're trying.
Speaker 4: To change that narrative out there, Matt, I mean Mongo dB. Yeah,
Speaker 4: there is a name, is a worse name.
Speaker 1: We come on, poor Mongo dB.
Speaker 4: They chose that name for themselves, we did. All right,
Speaker 4: let's go to Dollar Tree because really, Matt and I
Speaker 4: were talking earlier, their name doesn't really hold true anymore
Speaker 4: to what they do because a lot of their products
Speaker 4: that they sell are not for a dollar or not.
Speaker 1: For a dollar anymore. The stock is up by around
Speaker 1: eighteen percent. Company also reported better than expected result and
Speaker 1: boosted EPs guidance. But yes, they shifted away from a
Speaker 1: dollar items. Honestly, where can you find that. I was
Speaker 1: just talking about a dollar pizza yesterday, and if you
Speaker 1: gave me a pizza worth a dollar, I would not
Speaker 1: eat it.
Speaker 4: It should because something's wrong.
Speaker 3: Y d LTR is the multi dollar Tree.
Speaker 1: Yeah, DLTR is the ticker.
Speaker 4: But I guess that's part of the deal. Now they're
Speaker 4: selling items for more, yes, so each basket is bringing
Speaker 4: in more money.
Speaker 1: Yes, and they're looking to attract wealthier customers looking for
Speaker 1: deals at a time of economic uncertainty. I mean, if
Speaker 1: you're wealthy and your shop and Dollar Tree, I mean
Speaker 1: there's really something up there. And I feel like, again
Speaker 1: it's the k shape economy, right, the wealthy is spending
Speaker 1: the lower income or not. But this actually, I guess
Speaker 1: contrast that narrative because again, why would you be shopping
Speaker 1: a Dollar Tree.
Speaker 4: But still because they saw a decline in customer traffic,
Speaker 4: but they're getting shoppers to spend more. Right, that's the
Speaker 4: bottom for.
Speaker 3: Come entry less often, but spend more money when you
Speaker 3: do come on each visit. You must shop occasionally at
Speaker 3: discount change just for fun. Right Do you never go
Speaker 3: into like TJ Max and just go through.
Speaker 4: I've gone to a family is it family Dollar? Gone
Speaker 4: into a family Dollars? Sometimes they have such a neglected
Speaker 4: group of products. You can almost find anything these stores.
Speaker 1: I give Jeff Bezos all my money. Everything is delivered.
Speaker 1: So Dollar Tree they've shifted away from one dollar. They're
Speaker 1: now three to five dollars, so it's still affordable, but
Speaker 1: definitely not a Dollar Tree brand anymore. They have a
Speaker 1: lot of toys and party supplies. I don't even think
Speaker 1: I've been to a Dollar Tree, even if they're nine
Speaker 1: thousand locations.
Speaker 4: Nope, I've never been to one either.
Speaker 3: But I wouldn't not go in. You know.
Speaker 2: Yeah.
Speaker 4: What I'm not here is we're going to do the show.
Speaker 4: We're going to do the show from a Dollar Tree
Speaker 4: one day.
Speaker 3: I just have a field trip much more of my
Speaker 3: money with the Ford Motor Company, and they have had
Speaker 3: a stellar run, not because of the cars and trucks
Speaker 3: that I buy, but because of big batteries.
Speaker 1: I know, I chose this for you because I knew
Speaker 1: you would be here.
Speaker 4: I knew she did that.
Speaker 1: Doc is up five percent, seventh straight day of gains.
Speaker 1: That's longest stretch since July twenty twenty four, and it's
Speaker 1: outperformed Tesla.
Speaker 2: This stock Movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to bloom Berg Radio Live, catch us
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