WEBVTT - Best Buy Surges; Target Climbs; Pinterest Jumps

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>All right, I just take a look at some of

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<v Speaker 2>the stocks on the move today. I'm Paul Sweeney alongside

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<v Speaker 2>and Or Melinda, and we're joined by Bloomberg's Alexis Christopher. So, Alexis,

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<v Speaker 2>what are you looking at? I'm looking at retail stocks

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<v Speaker 2>because you know, we get the January retail sales report

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<v Speaker 2>on Friday, same day as we get the jobs report.

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<v Speaker 2>But I wanted to zone in on Best Buy because

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<v Speaker 2>it's soaring eight percent here in the pre market. And

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<v Speaker 2>this is even though sales and full year outlook disappointed.

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<v Speaker 2>In fact, they fell short of even low expectations. So

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<v Speaker 2>what are investors focusing on here? Profit last quarter surprisingly

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<v Speaker 2>rose above expectations, and even though the stock already had

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<v Speaker 2>a relatively high dividendield, Best Buy lifted its quarterly dividend

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<v Speaker 2>by one percent. CEO Corey Barry pointing out a few

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<v Speaker 2>of the positives here in this report that investors seemed

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<v Speaker 2>to be clinging to. This morning, he said market share

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<v Speaker 2>was at least flat despite the decline in holiday sales,

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<v Speaker 2>comparable sales for the year returned to growth after three

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<v Speaker 2>years of decline. So that's a big deal. And the

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<v Speaker 2>company's advertising business was pretty strong. And I just want

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<v Speaker 2>to also point out Target this morning looks like signs

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<v Speaker 2>of a turnaround. There finally starting to yield some results.

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<v Speaker 2>We've got Target up about three and a half percent.

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<v Speaker 2>It forecasts better than expected profit for the full year.

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<v Speaker 2>It expects a small increase in comparable sales for the

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<v Speaker 2>year and net sales to grow about two percent. We

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<v Speaker 2>know it's been struggling, right with these and sales go.

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<v Speaker 1>I go to a Target. It's got everything.

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<v Speaker 2>I feel like, can I tell you, I can never

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<v Speaker 2>find somebody on the floor, and I feel like I

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<v Speaker 2>feel like the inventory just hasn't been where it needs

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<v Speaker 2>to be.

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<v Speaker 1>Okay, that's fair.

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<v Speaker 2>So you're trying to refresh the stores, improve merchandise, use tech.

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<v Speaker 2>Of course, who isn't all right. Let's get to pinterest.

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<v Speaker 2>It was down thirty two percent this year, but it

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<v Speaker 2>is rallying today. Activist investor Elliott Investment Management investing a

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<v Speaker 2>billion dollars in Pinterest to help fund the company's efforts

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<v Speaker 2>to buy back shares. Yeah. The latest repurchases will be

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<v Speaker 2>carried out as part of a new three and a

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<v Speaker 2>half billion dollar program authorized by pinterest board this morning.

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<v Speaker 2>Pinterest is also going to buy back as much as

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<v Speaker 2>five hundred million dollars in additional shares from cash on hand.

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<v Speaker 2>Are you guys on Pinterest? I try to be. It

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<v Speaker 2>doesn't work for me. I don't understand it. I used

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<v Speaker 2>to be on there all the time just for food

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<v Speaker 2>recipes and whatnot. It is good for that, for that

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<v Speaker 2>kind of stuff. Yeah, now there's what TikTok.

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<v Speaker 1>Yeah, I'm chatchipt.

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<v Speaker 2>But what's what's pin supposed to be? What's the same

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<v Speaker 2>You're supposed to like a sematic board, you know, pin

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<v Speaker 2>things too virtually, Okay, a fashion board. If you want

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<v Speaker 2>to get profits, here you go. The thing is can

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<v Speaker 2>you pays off Pinterest? I know that's a great question.

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<v Speaker 2>I think it can link to other websites potentially if

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<v Speaker 2>the person who posted the board has hyper linked it.

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<v Speaker 2>That's where I hit the brick wall. I'm like, you

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<v Speaker 2>know what, if I can't find out where to buy

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<v Speaker 2>this thing, I'm out. And that's where you're doing. I'm out.

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<v Speaker 2>Pinterest also, by the way, just a reminder, it cut

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<v Speaker 2>hundreds of jobs last month. It makes all of its

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<v Speaker 2>revenue from advertising, and it said it was hurt by

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<v Speaker 2>President Trump's tariffs. I mean you think about how would

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<v Speaker 2>Pinterests be hurt by the tariffs. It does a lot

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<v Speaker 2>with furniture, and because of those furniture, the tariffs hitting furniture,

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<v Speaker 2>it said, you know, it was hurt. But pinterest today,

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<v Speaker 2>by the way, up five and a half percent, and

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<v Speaker 2>I have time for one more mail. Okay. Battalion Oil.

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<v Speaker 2>It may not have heard of this company, but the

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<v Speaker 2>stock is up one hundred and thirty five percent this morning.

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<v Speaker 2>It's a smaller US exploration and production company, has a

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<v Speaker 2>market cap of just under two hundred million. Highly sensitive

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<v Speaker 2>to swings in crude prices, and we're seeing them spike,

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<v Speaker 2>of course, so analysts are saying the move up, this

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<v Speaker 2>big move up in Battalion Oil sort of reflects the

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<v Speaker 2>expectations that any prolonged disruption near the Strait of Hormuz

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<v Speaker 2>would tighten global supply and improve cash flow for companies

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<v Speaker 2>like Battalion who get a lot of their revenue from shale.

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