Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look. Now, it's some stocks making news
Speaker 1: in the week ahead. I'm Nathan Hager with Bloomberg Equities.
Speaker 1: Reported in Italia Kanijevich, and it looks like this Wednesday
Speaker 1: is going to be the day we see a lot
Speaker 1: of news with a bunch of companies reporting, including Broadcom.
Speaker 1: More of the software story to be told, eh, Natalia.
Speaker 3: That's right, So yes, Broadcom reports earnings on dun third
Speaker 3: the tickets avgo. You know, lots of expectations, of course
Speaker 3: for this earnings report, because we've heard from CEO who
Speaker 3: said that the company expects to see sales above one
Speaker 3: hundred billion dollars next year. They also said that AI
Speaker 3: Chip revenue will be at around ten point seven billion dollars.
Speaker 3: And then if we look back at the latest earnings report,
Speaker 3: we saw that the company posted better than expected quarterly outlook.
Speaker 3: They also announced a pretty solid stock buyback program of
Speaker 3: as much as ten billion dollars. We know that companies
Speaker 3: have been buying back their own stocks pretty aggressively this year.
Speaker 3: Analysts are of course, really excited by the company's AI
Speaker 3: related revenue. We know that Broadcom expanded agreements with companies
Speaker 3: like Google and Anthropic, and it's also you know, a
Speaker 3: good addition to multi year visibility and contracts. And we
Speaker 3: also saw you know, some optimism across Wall Street analysts
Speaker 3: because on Thursday, Susquehanna analysts also erased the price target
Speaker 3: on Broadcom to four hundred and ninety from four hundred
Speaker 3: and fifty dollars. And the stock has doing really well
Speaker 3: this year. On the year today basis as of Thursday,
Speaker 3: the stock was up by twenty three percent, so it's
Speaker 3: a pretty solid run.
Speaker 1: Yeah, a nice little run there for that stock. So
Speaker 1: we'll be definitely keeping an eye on that one, along
Speaker 1: with another pretty big tech name that's had an even
Speaker 1: better run. This is CrowdStrike, also reporting Wednesday.
Speaker 3: That's right, Yes, CrowdStrike valuation of course have searched this year,
Speaker 3: helped by deals to make custom chips for companies like
Speaker 3: open Ai and Anthropic. And again I'm going to cite
Speaker 3: the latest Earnix report because CrowdStrike shares kind of fluctuated
Speaker 3: a little bit, but the software company reported results that
Speaker 3: were in line with expectations. And we know that this stock,
Speaker 3: among other software peers, were really volatile this year because
Speaker 3: investors were debating potential disruptions coming from AI. Cybersecurity stocks
Speaker 3: in particular, really volatile because Anthropic announced features in its
Speaker 3: cloud AI model that can scan different codes for vulnerabilities.
Speaker 3: So lots of debates about the sustainability of the software
Speaker 3: sector here in the United States. Nevertheless, we also see
Speaker 3: some optimism on Wall Street. On May twenty seventh, web
Speaker 3: Bush analyst Dan Ives raised the price target to crowd
Speaker 3: Strike Hollings to seven one hundred dollars from five hundred
Speaker 3: and fifty. He maintained outperform rating, and as of Thursday,
Speaker 3: as you mentioned, the stock has been doing really well
Speaker 3: this year. The stock was up by about forty three percent,
Speaker 3: so definitely outperforming broader markets.
Speaker 1: Yeah, well, we know how bullish Dan Ives of Webbush
Speaker 1: is across the AI story, so his perspective definitely one
Speaker 1: to pay attention to. Now, before these tech and software
Speaker 1: companies report, we're going to hear from a big name
Speaker 1: in retail before the bell on Wednesday in Macy's how
Speaker 1: are things at Harold Square these days to Talia.
Speaker 3: Yes, so you know, I actually also go to mass
Speaker 3: pretty regularly. When you go to the department store, it's
Speaker 3: very crowded, no signs of you know, any consumer concerns
Speaker 3: or recession, but the stock is flat year to date.
Speaker 3: We of course keep an eye on Maces because it's
Speaker 3: also a bell weather because it's such a huge presence
Speaker 3: across the United States. So Bloomberg Intelligence analysts expect that
Speaker 3: sales may meet consensus based on transaction data, comparable sales
Speaker 3: could be somewhere at around one point three percent EPs
Speaker 3: could top expectations. Now Bloomingdale Sales, which is around the
Speaker 3: corner from Bloomberg office, yes, yes, so they expected that
Speaker 3: sales have risen to low to smid single digits on
Speaker 3: the earning skull. Of course, people will be watching whatever
Speaker 3: macy says about the progress because they including two hundred
Speaker 3: revitalized stores, all things on consumer trends, luxury spending, teriff
Speaker 3: free funds, and of course the outlook. You know, it's
Speaker 3: interesting because Macy's management also introduced a new letter for
Speaker 3: the shape of US economic growth. They expect e shaped
Speaker 3: economic recovery where you know, wealthy consumers are doing well,
Speaker 3: middle income consumers hanging in and lower income consumers are struggling.
Speaker 3: So anyway, Late Stars report. By the way, it was
Speaker 3: really good. The company reported better than expected results, but
Speaker 3: it did not help the stock price. Maybe there are
Speaker 3: lots of concerns about consumer trends going forward, maybe something
Speaker 3: that we have not seen yet.
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