WEBVTT - Closing Bell: Cracker Barrel Soars, Super Micro Plunges, Oracle Earnings

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:10.080 --> 0:00:13.520
<v Speaker 2>This is the closing bell on the stock movers report

0:00:13.760 --> 0:00:16.720
<v Speaker 2>the company's making moves at the close of US trading

0:00:16.880 --> 0:00:21.400
<v Speaker 2>with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greyfell.

0:00:22.360 --> 0:00:26.160
<v Speaker 1>Let's get to some of the gainers in today's session.

0:00:26.239 --> 0:00:29.640
<v Speaker 1>Gotta start with Cracker Barrel, a record gain Eat your Day,

0:00:29.720 --> 0:00:31.840
<v Speaker 1>highest in nearly eight months. One point your Day. The

0:00:31.840 --> 0:00:33.920
<v Speaker 1>stock was up as much as thirty five percent here

0:00:33.920 --> 0:00:37.120
<v Speaker 1>at the close. It's a gain of just shy of

0:00:37.159 --> 0:00:42.680
<v Speaker 1>twenty three percent. Logo and restaurant designed scandal be gone instead.

0:00:43.000 --> 0:00:43.959
<v Speaker 2>We's country Ham.

0:00:44.040 --> 0:00:44.680
<v Speaker 3>Can't believe it.

0:00:44.640 --> 0:00:47.800
<v Speaker 1>I know salt and pepper shakers, America shakers. That's days

0:00:48.280 --> 0:00:50.440
<v Speaker 1>twenty twenty. I know how many times do you go

0:00:50.520 --> 0:00:51.560
<v Speaker 1>there all the time?

0:00:51.840 --> 0:00:54.520
<v Speaker 2>I love Crackers one Clinton, New Jersey.

0:00:55.240 --> 0:00:59.440
<v Speaker 1>Good to know anyway, Definitely a different song on Wall

0:00:59.480 --> 0:01:01.520
<v Speaker 1>Street here for this one. A different tune when it

0:01:01.520 --> 0:01:04.919
<v Speaker 1>comes to investors. Restaur Unchain raised its full year revenue

0:01:04.920 --> 0:01:08.360
<v Speaker 1>guidance and said declines in store traffic are moderating. It's

0:01:08.480 --> 0:01:11.319
<v Speaker 1>now up about eighty percent year to date. Twenty seven

0:01:11.319 --> 0:01:12.959
<v Speaker 1>percent of the float is short, though so just keep

0:01:13.000 --> 0:01:15.800
<v Speaker 1>that in mind. In terms of sentiment. Hey, I got

0:01:15.800 --> 0:01:17.880
<v Speaker 1>to go to what is the number one gainer in

0:01:17.920 --> 0:01:20.360
<v Speaker 1>the S and P five hundred, and that is Casey's

0:01:20.360 --> 0:01:24.120
<v Speaker 1>General Stores shares rallying after the convenience store chain reported

0:01:24.160 --> 0:01:26.160
<v Speaker 1>revenue for the fourth quarter that did beat the average

0:01:26.200 --> 0:01:29.520
<v Speaker 1>analyst estimate. And there was one standout stat. There are

0:01:29.520 --> 0:01:31.199
<v Speaker 1>a bunch of stats you could go over, but fuel

0:01:31.240 --> 0:01:34.600
<v Speaker 1>revenue two point eight eight billion dollars up eighteen percent

0:01:34.680 --> 0:01:37.680
<v Speaker 1>year over year, easily beating the estimate on the street

0:01:37.680 --> 0:01:39.680
<v Speaker 1>of two point sixty six billion. That certainly helped the

0:01:39.680 --> 0:01:42.800
<v Speaker 1>company out. Stock is up nearly sixty percent year to date.

0:01:43.240 --> 0:01:45.280
<v Speaker 1>Only about four percent of the float is short. And

0:01:45.319 --> 0:01:46.960
<v Speaker 1>then I just want to go real quickly too. And

0:01:47.120 --> 0:01:51.560
<v Speaker 1>IPO today Parabilus Medicines. I'm hopefully saying it correct. I

0:01:51.560 --> 0:01:56.559
<v Speaker 1>don't know if I am PBLS biopharmaceutical and clinical stage

0:01:56.600 --> 0:01:59.560
<v Speaker 1>cancer drug company raised nearly seven hundred and forty five

0:01:59.560 --> 0:02:03.280
<v Speaker 1>million dollar. It was an upsized IPO, pricing above its

0:02:03.280 --> 0:02:06.960
<v Speaker 1>marketed range and a private placement. One existing investor are

0:02:07.000 --> 0:02:09.760
<v Speaker 1>a capital taking more than half of the shares in

0:02:09.760 --> 0:02:12.080
<v Speaker 1>that IPO. That's according to people familiar with the matter.

0:02:12.120 --> 0:02:16.000
<v Speaker 1>But that's stock closing up fifty eight percent, so pretty successful.

0:02:16.000 --> 0:02:18.880
<v Speaker 3>IPO here, okay, not all IPOs good today, And I'll

0:02:18.919 --> 0:02:20.480
<v Speaker 3>get to one of those a little later. Before we

0:02:20.520 --> 0:02:22.640
<v Speaker 3>do that, though, I want to get to super Micro,

0:02:23.080 --> 0:02:25.400
<v Speaker 3>the worst performer in the s and P five hundred

0:02:25.440 --> 0:02:28.560
<v Speaker 3>by a long shot. Today fell twenty eight percent. It

0:02:28.600 --> 0:02:31.640
<v Speaker 3>was the biggest drop going all the way back to March.

0:02:32.280 --> 0:02:34.760
<v Speaker 3>That's the stock of super Micro over the last couple

0:02:34.800 --> 0:02:37.400
<v Speaker 3>of years, very volatile. The company announced this plan to

0:02:37.480 --> 0:02:39.760
<v Speaker 3>raise seven billion dollars through a package of equity offering

0:02:39.760 --> 0:02:42.359
<v Speaker 3>in stall pay for the production of more AI servers.

0:02:42.440 --> 0:02:45.239
<v Speaker 3>Investors did not like the sound of that. The financing

0:02:45.240 --> 0:02:47.880
<v Speaker 3>plan expected to dilute near term earnings, but also signals

0:02:47.880 --> 0:02:50.959
<v Speaker 3>that AI demand could lift fiscal twenty twenty seven revenue

0:02:50.960 --> 0:02:53.639
<v Speaker 3>above the fifty billion dollar consensus. Once again, super Micro

0:02:53.720 --> 0:02:56.320
<v Speaker 3>shares falling twenty eight percent. What is the stock in

0:02:56.320 --> 0:02:58.799
<v Speaker 3>the SMP five hundred, Well, it was, and then it wasn't,

0:02:58.840 --> 0:03:01.800
<v Speaker 3>and then it was again out Yeah, Like I don't know.

0:03:01.880 --> 0:03:03.680
<v Speaker 3>I mean, you're gonna have to ask the group of

0:03:04.520 --> 0:03:07.440
<v Speaker 3>people who make that decision, right, maybe while you're at it,

0:03:07.480 --> 0:03:09.480
<v Speaker 3>you can ask them some questions about SpaceX. I was

0:03:09.520 --> 0:03:10.880
<v Speaker 3>going to say, I feel like we all care about

0:03:10.880 --> 0:03:14.840
<v Speaker 3>index methodology more than we ever have. Is a beautiful

0:03:14.840 --> 0:03:17.400
<v Speaker 3>thing we do. We spoke to the CEO of Wealth Front,

0:03:17.480 --> 0:03:21.400
<v Speaker 3>David Fortunado a little earlier about how you know after

0:03:21.440 --> 0:03:25.400
<v Speaker 3>maybe four or five days SpaceX will be in VTI. Yeah,

0:03:25.400 --> 0:03:27.800
<v Speaker 3>and how you know they had a blog post on

0:03:27.840 --> 0:03:31.080
<v Speaker 3>their website so people can include or exclude it from

0:03:31.120 --> 0:03:33.840
<v Speaker 3>the portfolio. It's been a very polarizing stock, as you

0:03:33.880 --> 0:03:38.200
<v Speaker 3>guys know, We've encountered it. Yeah, you've encountered this. Let's

0:03:38.200 --> 0:03:43.800
<v Speaker 3>talk about some less than truckload companies LTL. Speaking in

0:03:43.920 --> 0:03:46.960
<v Speaker 3>Romain's language, I knew that Romaine would love this story.

0:03:47.240 --> 0:03:49.560
<v Speaker 3>Look at this was on the all morning about this

0:03:49.640 --> 0:03:53.280
<v Speaker 3>old Dominion down five percent, FedEx Freight down seven percent,

0:03:54.200 --> 0:03:56.200
<v Speaker 3>sayah down three point three percent.

0:03:56.920 --> 0:03:57.720
<v Speaker 1>What does that say?

0:03:58.200 --> 0:04:02.000
<v Speaker 3>It says that Amazon is getting into their territory. Amazon

0:04:02.040 --> 0:04:04.440
<v Speaker 3>announce an expansion of its own shipping service. It includes

0:04:04.520 --> 0:04:08.240
<v Speaker 3>less than truckload offerings to destinations across the US. It's

0:04:08.280 --> 0:04:12.000
<v Speaker 3>part of the Amazon supply chain. Services Suite analysts have

0:04:12.040 --> 0:04:15.560
<v Speaker 3>a mixed view on the impact, but there are some

0:04:15.600 --> 0:04:18.480
<v Speaker 3>concerns about legacy carriers such as these taking a hit

0:04:18.520 --> 0:04:21.000
<v Speaker 3>as a result of Amazon getting in their territory. I

0:04:21.040 --> 0:04:22.840
<v Speaker 3>was on the highway yesterday. I actually saw an Uber

0:04:22.960 --> 0:04:26.159
<v Speaker 3>freight truck. Huh, which is not something that you see

0:04:26.200 --> 0:04:26.600
<v Speaker 3>every day.

0:04:27.640 --> 0:04:31.680
<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

0:04:31.760 --> 0:04:34.320
<v Speaker 2>us throughout the day for the latest roundup of companies

0:04:34.400 --> 0:04:37.480
<v Speaker 2>making news on Wall Street and for the latest market

0:04:37.520 --> 0:04:42.000
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:04:42.080 --> 0:04:45.599
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:04:45.640 --> 0:04:47.159
<v Speaker 2>the Bloomberg Business app.