1 00:00:02,520 --> 00:00:09,959 Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,400 --> 00:00:17,599 Speaker 2: All right, I just take a look at some of 5 00:00:17,600 --> 00:00:20,360 Speaker 2: the stocks on the move today. I'm Paul Sweeney alongside 6 00:00:20,360 --> 00:00:24,520 Speaker 2: and Or Melinda, and we're joined by Bloomberg's Alexis Christopher. So, Alexis, 7 00:00:24,520 --> 00:00:26,560 Speaker 2: what are you looking at? I'm looking at retail stocks 8 00:00:26,560 --> 00:00:28,960 Speaker 2: because you know, we get the January retail sales report 9 00:00:29,000 --> 00:00:31,160 Speaker 2: on Friday, same day as we get the jobs report. 10 00:00:31,760 --> 00:00:34,440 Speaker 2: But I wanted to zone in on Best Buy because 11 00:00:34,440 --> 00:00:37,040 Speaker 2: it's soaring eight percent here in the pre market. And 12 00:00:37,080 --> 00:00:40,960 Speaker 2: this is even though sales and full year outlook disappointed. 13 00:00:41,000 --> 00:00:43,919 Speaker 2: In fact, they fell short of even low expectations. So 14 00:00:43,920 --> 00:00:48,120 Speaker 2: what are investors focusing on here? Profit last quarter surprisingly 15 00:00:48,440 --> 00:00:52,720 Speaker 2: rose above expectations, and even though the stock already had 16 00:00:52,720 --> 00:00:56,160 Speaker 2: a relatively high dividendield, Best Buy lifted its quarterly dividend 17 00:00:56,440 --> 00:01:00,240 Speaker 2: by one percent. CEO Corey Barry pointing out a few 18 00:01:00,280 --> 00:01:03,240 Speaker 2: of the positives here in this report that investors seemed 19 00:01:03,240 --> 00:01:05,240 Speaker 2: to be clinging to. This morning, he said market share 20 00:01:05,280 --> 00:01:08,520 Speaker 2: was at least flat despite the decline in holiday sales, 21 00:01:08,600 --> 00:01:11,600 Speaker 2: comparable sales for the year returned to growth after three 22 00:01:11,680 --> 00:01:13,600 Speaker 2: years of decline. So that's a big deal. And the 23 00:01:13,640 --> 00:01:17,360 Speaker 2: company's advertising business was pretty strong. And I just want 24 00:01:17,400 --> 00:01:21,080 Speaker 2: to also point out Target this morning looks like signs 25 00:01:21,160 --> 00:01:24,039 Speaker 2: of a turnaround. There finally starting to yield some results. 26 00:01:24,040 --> 00:01:25,759 Speaker 2: We've got Target up about three and a half percent. 27 00:01:26,120 --> 00:01:28,720 Speaker 2: It forecasts better than expected profit for the full year. 28 00:01:28,959 --> 00:01:31,800 Speaker 2: It expects a small increase in comparable sales for the 29 00:01:31,880 --> 00:01:34,560 Speaker 2: year and net sales to grow about two percent. We 30 00:01:34,600 --> 00:01:38,240 Speaker 2: know it's been struggling, right with these and sales go. 31 00:01:38,280 --> 00:01:39,880 Speaker 1: I go to a Target. It's got everything. 32 00:01:40,160 --> 00:01:42,200 Speaker 2: I feel like, can I tell you, I can never 33 00:01:42,240 --> 00:01:45,440 Speaker 2: find somebody on the floor, and I feel like I 34 00:01:45,480 --> 00:01:47,520 Speaker 2: feel like the inventory just hasn't been where it needs 35 00:01:47,560 --> 00:01:47,840 Speaker 2: to be. 36 00:01:47,920 --> 00:01:48,640 Speaker 1: Okay, that's fair. 37 00:01:48,760 --> 00:01:51,880 Speaker 2: So you're trying to refresh the stores, improve merchandise, use tech. 38 00:01:51,920 --> 00:01:54,600 Speaker 2: Of course, who isn't all right. Let's get to pinterest. 39 00:01:55,480 --> 00:01:57,760 Speaker 2: It was down thirty two percent this year, but it 40 00:01:57,840 --> 00:02:01,920 Speaker 2: is rallying today. Activist investor Elliott Investment Management investing a 41 00:02:02,000 --> 00:02:05,720 Speaker 2: billion dollars in Pinterest to help fund the company's efforts 42 00:02:05,760 --> 00:02:09,800 Speaker 2: to buy back shares. Yeah. The latest repurchases will be 43 00:02:09,800 --> 00:02:11,639 Speaker 2: carried out as part of a new three and a 44 00:02:11,680 --> 00:02:15,400 Speaker 2: half billion dollar program authorized by pinterest board this morning. 45 00:02:15,800 --> 00:02:17,720 Speaker 2: Pinterest is also going to buy back as much as 46 00:02:17,720 --> 00:02:21,959 Speaker 2: five hundred million dollars in additional shares from cash on hand. 47 00:02:22,240 --> 00:02:25,240 Speaker 2: Are you guys on Pinterest? I try to be. It 48 00:02:25,240 --> 00:02:28,000 Speaker 2: doesn't work for me. I don't understand it. I used 49 00:02:28,000 --> 00:02:29,720 Speaker 2: to be on there all the time just for food 50 00:02:29,720 --> 00:02:31,640 Speaker 2: recipes and whatnot. It is good for that, for that 51 00:02:31,720 --> 00:02:33,840 Speaker 2: kind of stuff. Yeah, now there's what TikTok. 52 00:02:34,360 --> 00:02:35,440 Speaker 1: Yeah, I'm chatchipt. 53 00:02:35,720 --> 00:02:38,359 Speaker 2: But what's what's pin supposed to be? What's the same 54 00:02:38,440 --> 00:02:41,359 Speaker 2: You're supposed to like a sematic board, you know, pin 55 00:02:41,480 --> 00:02:44,720 Speaker 2: things too virtually, Okay, a fashion board. If you want 56 00:02:44,760 --> 00:02:47,680 Speaker 2: to get profits, here you go. The thing is can 57 00:02:47,720 --> 00:02:50,280 Speaker 2: you pays off Pinterest? I know that's a great question. 58 00:02:50,320 --> 00:02:52,880 Speaker 2: I think it can link to other websites potentially if 59 00:02:52,880 --> 00:02:55,560 Speaker 2: the person who posted the board has hyper linked it. 60 00:02:55,680 --> 00:02:57,400 Speaker 2: That's where I hit the brick wall. I'm like, you 61 00:02:57,400 --> 00:02:58,760 Speaker 2: know what, if I can't find out where to buy 62 00:02:58,800 --> 00:03:00,560 Speaker 2: this thing, I'm out. And that's where you're doing. I'm out. 63 00:03:01,040 --> 00:03:03,200 Speaker 2: Pinterest also, by the way, just a reminder, it cut 64 00:03:03,280 --> 00:03:06,639 Speaker 2: hundreds of jobs last month. It makes all of its 65 00:03:06,639 --> 00:03:09,320 Speaker 2: revenue from advertising, and it said it was hurt by 66 00:03:09,320 --> 00:03:11,520 Speaker 2: President Trump's tariffs. I mean you think about how would 67 00:03:11,639 --> 00:03:14,359 Speaker 2: Pinterests be hurt by the tariffs. It does a lot 68 00:03:14,360 --> 00:03:17,760 Speaker 2: with furniture, and because of those furniture, the tariffs hitting furniture, 69 00:03:17,760 --> 00:03:19,600 Speaker 2: it said, you know, it was hurt. But pinterest today, 70 00:03:19,600 --> 00:03:22,280 Speaker 2: by the way, up five and a half percent, and 71 00:03:23,440 --> 00:03:26,840 Speaker 2: I have time for one more mail. Okay. Battalion Oil. 72 00:03:27,440 --> 00:03:29,120 Speaker 2: It may not have heard of this company, but the 73 00:03:29,120 --> 00:03:32,480 Speaker 2: stock is up one hundred and thirty five percent this morning. 74 00:03:32,760 --> 00:03:36,160 Speaker 2: It's a smaller US exploration and production company, has a 75 00:03:36,160 --> 00:03:39,320 Speaker 2: market cap of just under two hundred million. Highly sensitive 76 00:03:39,320 --> 00:03:41,960 Speaker 2: to swings in crude prices, and we're seeing them spike, 77 00:03:42,040 --> 00:03:44,800 Speaker 2: of course, so analysts are saying the move up, this 78 00:03:44,880 --> 00:03:47,840 Speaker 2: big move up in Battalion Oil sort of reflects the 79 00:03:47,920 --> 00:03:51,760 Speaker 2: expectations that any prolonged disruption near the Strait of Hormuz 80 00:03:51,960 --> 00:03:56,160 Speaker 2: would tighten global supply and improve cash flow for companies 81 00:03:56,200 --> 00:04:00,160 Speaker 2: like Battalion who get a lot of their revenue from shale. 82 00:04:00,400 --> 00:04:04,640 Speaker 1: The stockmover's report from Bloomberg Radio Check back with us 83 00:04:04,640 --> 00:04:07,440 Speaker 1: throughout the day for the latest roundup of companies making 84 00:04:07,520 --> 00:04:11,120 Speaker 1: news on Wall Street, and for the latest market moving headlines. 85 00:04:11,360 --> 00:04:15,360 Speaker 1: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 86 00:04:15,400 --> 00:04:18,479 Speaker 1: dot com, and on Applecarplay and Android Auto with the 87 00:04:18,520 --> 00:04:19,880 Speaker 1: Bloomberg Business app.