1 00:00:02,560 --> 00:00:07,400 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,480 Speaker 2: The Stock Mover's Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,240 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,680 Speaker 2: Let's take a look at some stocks on the move today. 5 00:00:18,720 --> 00:00:22,279 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel on what's 6 00:00:22,280 --> 00:00:24,320 Speaker 3: turned out to be a pretty busy morning when it 7 00:00:24,360 --> 00:00:29,400 Speaker 3: comes to earnings. Starting with Target this morning, Valerie getting 8 00:00:29,800 --> 00:00:30,960 Speaker 3: crushed pre market. 9 00:00:31,000 --> 00:00:34,320 Speaker 1: Good morning, Yeah, getting crushed pre market? Should I say? 10 00:00:34,400 --> 00:00:37,720 Speaker 1: Down over nine percent for Target after they announced a 11 00:00:37,800 --> 00:00:41,960 Speaker 1: c suite change naming a new CEO, a longtime executive 12 00:00:41,960 --> 00:00:45,600 Speaker 1: and current COO Michael Fedelk, to take over the CEO 13 00:00:45,720 --> 00:00:49,360 Speaker 1: seat in February. Perhaps this is Target betting that an 14 00:00:49,400 --> 00:00:52,640 Speaker 1: insider who actually started as an intern at the company 15 00:00:52,960 --> 00:00:55,640 Speaker 1: at twenty years ago will rejuvenate sales and help the 16 00:00:55,680 --> 00:00:59,720 Speaker 1: storied retailer regain its footing. This new CEO will face 17 00:00:59,800 --> 00:01:03,240 Speaker 1: a challenge of reversing an extended streak of weak performance 18 00:01:03,280 --> 00:01:06,040 Speaker 1: and loss of market share to competitors such as Walmart 19 00:01:06,480 --> 00:01:09,240 Speaker 1: and Amazon. The earnings, though did show slightly better than 20 00:01:09,280 --> 00:01:12,399 Speaker 1: expected when it came down to sales, but the stock 21 00:01:12,520 --> 00:01:15,200 Speaker 1: is down nine and a half percent on this announcement 22 00:01:15,200 --> 00:01:16,959 Speaker 1: of a C suite change. Maybe it starts to beg 23 00:01:17,000 --> 00:01:20,319 Speaker 1: some questions on a wider strategy change coming afoot. 24 00:01:20,640 --> 00:01:23,280 Speaker 3: Well, it's a much different story this morning for LOWS 25 00:01:23,319 --> 00:01:24,320 Speaker 3: following their earnings. 26 00:01:24,520 --> 00:01:27,399 Speaker 1: Yeah, they boosted their full year outlook. LOWS shares are 27 00:01:27,520 --> 00:01:30,839 Speaker 1: up three point four percent in pre market, shrugging off 28 00:01:30,880 --> 00:01:34,319 Speaker 1: a weaker DIY demand from a slow housing market. When 29 00:01:34,319 --> 00:01:37,040 Speaker 1: it came to their earnings, their net sales also met 30 00:01:37,200 --> 00:01:39,839 Speaker 1: estimates and they raised their sales guidance for the full 31 00:01:39,920 --> 00:01:43,720 Speaker 1: year twenty twenty five. They've also announced an acquisition. They're 32 00:01:43,720 --> 00:01:46,600 Speaker 1: going to be buying a Foundation Building Materials. This is 33 00:01:46,640 --> 00:01:49,920 Speaker 1: a company that is a North American distributor of interior 34 00:01:49,960 --> 00:01:53,920 Speaker 1: building projects in both new construction projects for residential and 35 00:01:54,000 --> 00:01:57,520 Speaker 1: commercial projects. So that's a big move for Low's maybe 36 00:01:57,520 --> 00:02:00,440 Speaker 1: getting into more of the commercial building space. They are 37 00:02:00,480 --> 00:02:02,960 Speaker 1: buying that company for eight point eight billion dollars and 38 00:02:03,040 --> 00:02:05,960 Speaker 1: expect it to add to adjusted EPs in the first 39 00:02:06,040 --> 00:02:08,360 Speaker 1: full year. So Loew's doing quite well this morning at 40 00:02:08,400 --> 00:02:09,600 Speaker 1: three point four percent, and. 41 00:02:09,600 --> 00:02:12,200 Speaker 3: We're also seeing a big move but not doing so 42 00:02:12,360 --> 00:02:15,440 Speaker 3: well when it comes to s Day Ladder following their 43 00:02:15,480 --> 00:02:16,520 Speaker 3: earnings this morning. 44 00:02:16,720 --> 00:02:19,919 Speaker 1: Yeah, S Day Louder disappointing down seven percent. The stock 45 00:02:19,960 --> 00:02:23,040 Speaker 1: was actually down at one point fourteen percent after their 46 00:02:23,040 --> 00:02:27,079 Speaker 1: full year guidance disappointed market expectations. There was also in 47 00:02:27,080 --> 00:02:31,359 Speaker 1: an organic sales decline for the previous quarter that was 48 00:02:31,400 --> 00:02:34,840 Speaker 1: slightly worse than expected. The company also said they were 49 00:02:34,840 --> 00:02:37,360 Speaker 1: going to be booking one hundred million dollar loss of 50 00:02:37,440 --> 00:02:40,880 Speaker 1: from tariffs for the year, and Sday Louder is currently 51 00:02:41,080 --> 00:02:44,760 Speaker 1: evaluating ways to mitigate potential tariff risks as its supply 52 00:02:44,840 --> 00:02:48,320 Speaker 1: chain is highly exposed to China trade. So Esday Louder 53 00:02:48,360 --> 00:02:51,440 Speaker 1: bit of a disappointment, down seven percent, A bit of. 54 00:02:51,440 --> 00:02:55,520 Speaker 3: A disappointment, maybe an understatement. When it comes to home builders, 55 00:02:55,720 --> 00:03:00,600 Speaker 3: the US traded shares of James Hardy are the biggest 56 00:03:00,840 --> 00:03:02,280 Speaker 3: losers this morning. 57 00:03:02,560 --> 00:03:04,720 Speaker 1: Yeah, not looking good for James Hardy. This is the 58 00:03:05,120 --> 00:03:09,480 Speaker 1: building materials maker, down over twenty seven percent in the 59 00:03:09,480 --> 00:03:12,640 Speaker 1: pre market trade after it warned of weak demand for 60 00:03:12,760 --> 00:03:16,640 Speaker 1: repairs and new construction across North of America. Look, you 61 00:03:16,680 --> 00:03:19,440 Speaker 1: combine that with what we heard from Toll Brothers, who 62 00:03:19,520 --> 00:03:22,440 Speaker 1: is the luxury home builder. They cut their home deliveries 63 00:03:22,480 --> 00:03:25,799 Speaker 1: guidance for the full year. Those shares are down nearly 64 00:03:25,840 --> 00:03:28,240 Speaker 1: three percent in pre market trade. This really points to 65 00:03:28,320 --> 00:03:32,880 Speaker 1: softness in new construction a challenging soft housing market for 66 00:03:32,960 --> 00:03:34,920 Speaker 1: the US. That's what that picture of both of those 67 00:03:34,960 --> 00:03:35,560 Speaker 1: paints together. 68 00:03:36,680 --> 00:03:40,680 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 69 00:03:40,800 --> 00:03:43,360 Speaker 2: us throughout the day for the latest roundup of companies 70 00:03:43,440 --> 00:03:46,520 Speaker 2: making news on Wall Street and for the latest market 71 00:03:46,560 --> 00:03:51,040 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 72 00:03:51,120 --> 00:03:54,600 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 73 00:03:54,680 --> 00:03:56,200 Speaker 2: the Bloomberg Business app.