Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: All right, I just take a look at some of
Speaker 2: the stocks on the move today. I'm Paul Sweeney alongside
Speaker 2: and Or Melinda, and we're joined by Bloomberg's Alexis Christopher. So, Alexis,
Speaker 2: what are you looking at? I'm looking at retail stocks
Speaker 2: because you know, we get the January retail sales report
Speaker 2: on Friday, same day as we get the jobs report.
Speaker 2: But I wanted to zone in on Best Buy because
Speaker 2: it's soaring eight percent here in the pre market. And
Speaker 2: this is even though sales and full year outlook disappointed.
Speaker 2: In fact, they fell short of even low expectations. So
Speaker 2: what are investors focusing on here? Profit last quarter surprisingly
Speaker 2: rose above expectations, and even though the stock already had
Speaker 2: a relatively high dividendield, Best Buy lifted its quarterly dividend
Speaker 2: by one percent. CEO Corey Barry pointing out a few
Speaker 2: of the positives here in this report that investors seemed
Speaker 2: to be clinging to. This morning, he said market share
Speaker 2: was at least flat despite the decline in holiday sales,
Speaker 2: comparable sales for the year returned to growth after three
Speaker 2: years of decline. So that's a big deal. And the
Speaker 2: company's advertising business was pretty strong. And I just want
Speaker 2: to also point out Target this morning looks like signs
Speaker 2: of a turnaround. There finally starting to yield some results.
Speaker 2: We've got Target up about three and a half percent.
Speaker 2: It forecasts better than expected profit for the full year.
Speaker 2: It expects a small increase in comparable sales for the
Speaker 2: year and net sales to grow about two percent. We
Speaker 2: know it's been struggling, right with these and sales go.
Speaker 1: I go to a Target. It's got everything.
Speaker 2: I feel like, can I tell you, I can never
Speaker 2: find somebody on the floor, and I feel like I
Speaker 2: feel like the inventory just hasn't been where it needs
Speaker 2: to be.
Speaker 1: Okay, that's fair.
Speaker 2: So you're trying to refresh the stores, improve merchandise, use tech.
Speaker 2: Of course, who isn't all right. Let's get to pinterest.
Speaker 2: It was down thirty two percent this year, but it
Speaker 2: is rallying today. Activist investor Elliott Investment Management investing a
Speaker 2: billion dollars in Pinterest to help fund the company's efforts
Speaker 2: to buy back shares. Yeah. The latest repurchases will be
Speaker 2: carried out as part of a new three and a
Speaker 2: half billion dollar program authorized by pinterest board this morning.
Speaker 2: Pinterest is also going to buy back as much as
Speaker 2: five hundred million dollars in additional shares from cash on hand.
Speaker 2: Are you guys on Pinterest? I try to be. It
Speaker 2: doesn't work for me. I don't understand it. I used
Speaker 2: to be on there all the time just for food
Speaker 2: recipes and whatnot. It is good for that, for that
Speaker 2: kind of stuff. Yeah, now there's what TikTok.
Speaker 1: Yeah, I'm chatchipt.
Speaker 2: But what's what's pin supposed to be? What's the same
Speaker 2: You're supposed to like a sematic board, you know, pin
Speaker 2: things too virtually, Okay, a fashion board. If you want
Speaker 2: to get profits, here you go. The thing is can
Speaker 2: you pays off Pinterest? I know that's a great question.
Speaker 2: I think it can link to other websites potentially if
Speaker 2: the person who posted the board has hyper linked it.
Speaker 2: That's where I hit the brick wall. I'm like, you
Speaker 2: know what, if I can't find out where to buy
Speaker 2: this thing, I'm out. And that's where you're doing. I'm out.
Speaker 2: Pinterest also, by the way, just a reminder, it cut
Speaker 2: hundreds of jobs last month. It makes all of its
Speaker 2: revenue from advertising, and it said it was hurt by
Speaker 2: President Trump's tariffs. I mean you think about how would
Speaker 2: Pinterests be hurt by the tariffs. It does a lot
Speaker 2: with furniture, and because of those furniture, the tariffs hitting furniture,
Speaker 2: it said, you know, it was hurt. But pinterest today,
Speaker 2: by the way, up five and a half percent, and
Speaker 2: I have time for one more mail. Okay. Battalion Oil.
Speaker 2: It may not have heard of this company, but the
Speaker 2: stock is up one hundred and thirty five percent this morning.
Speaker 2: It's a smaller US exploration and production company, has a
Speaker 2: market cap of just under two hundred million. Highly sensitive
Speaker 2: to swings in crude prices, and we're seeing them spike,
Speaker 2: of course, so analysts are saying the move up, this
Speaker 2: big move up in Battalion Oil sort of reflects the
Speaker 2: expectations that any prolonged disruption near the Strait of Hormuz
Speaker 2: would tighten global supply and improve cash flow for companies
Speaker 2: like Battalion who get a lot of their revenue from shale.
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