1
00:00:02,520 --> 00:00:07,000
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:09,880 --> 00:00:13,320
Speaker 2: This is the closing bell on this stock mover's report.

3
00:00:13,560 --> 00:00:16,520
Speaker 2: The company's making moves at the close of US trading

4
00:00:16,760 --> 00:00:21,319
Speaker 2: with Carol Master, Tim Stenebeck, Romaine Bostick, and Scarlett Food.

5
00:00:22,440 --> 00:00:25,000
Speaker 1: The Federal Reserve here in the United States has finally

6
00:00:25,079 --> 00:00:29,080
Speaker 1: lifted the asset cap restriction on Wells Fargo. This, of

7
00:00:29,200 --> 00:00:31,800
Speaker 1: course has been in place four years, and we're seeing

8
00:00:31,800 --> 00:00:33,880
Speaker 1: a big pop in the shares in the after hours,

9
00:00:33,960 --> 00:00:35,000
Speaker 1: up by about six percent.

10
00:00:35,040 --> 00:00:37,000
Speaker 3: Hey, I'm just going to piggyback on that that cap

11
00:00:37,040 --> 00:00:39,080
Speaker 3: and welcome too, has been in place for.

12
00:00:39,000 --> 00:00:40,479
Speaker 4: More than seven years.

13
00:00:40,520 --> 00:00:42,960
Speaker 3: We know that it went through a really tricky time

14
00:00:43,680 --> 00:00:45,400
Speaker 3: with a lot of issues and a lot of different

15
00:00:45,400 --> 00:00:48,040
Speaker 3: problems that caused that cap to be there. But now

16
00:00:48,080 --> 00:00:50,000
Speaker 3: you've got what the removal of that cap allowing the

17
00:00:50,040 --> 00:00:53,240
Speaker 3: bank essentially to pursue growth again, closing the door nearly

18
00:00:53,280 --> 00:00:57,440
Speaker 3: a decade of scandals and marks a major major win

19
00:00:57,520 --> 00:01:00,240
Speaker 3: for the company's CEO, Charlie Sharf and as remained and said,

20
00:01:00,280 --> 00:01:02,880
Speaker 3: we're seeing it pop certainly in the aftermath.

21
00:01:02,520 --> 00:01:03,440
Speaker 5: And I just dressed real quickly.

22
00:01:03,440 --> 00:01:05,039
Speaker 1: I just want to stay on this for just one second,

23
00:01:05,040 --> 00:01:06,800
Speaker 1: so the statement from Michael Barr. Of course, the FED

24
00:01:06,840 --> 00:01:09,839
Speaker 1: Governor kind of oversees all of the banking supervision, saying

25
00:01:09,840 --> 00:01:13,120
Speaker 1: that the removal of that asset cap does represent quote

26
00:01:13,160 --> 00:01:18,240
Speaker 1: successful remediation to the required standard based on focus, management leadership,

27
00:01:18,280 --> 00:01:22,280
Speaker 1: strongboard oversight, and strict supervision holding the firm accountable. Of course,

28
00:01:22,280 --> 00:01:24,680
Speaker 1: we've talked a lot with the CFO on this program

29
00:01:24,760 --> 00:01:27,360
Speaker 1: every earning season. Every earning season we ask about this

30
00:01:27,480 --> 00:01:30,280
Speaker 1: asset cap. This has been a huge constraint on the

31
00:01:30,280 --> 00:01:32,600
Speaker 1: company's ability to grow, and of course that means a

32
00:01:32,640 --> 00:01:33,679
Speaker 1: constraint on the shares.

33
00:01:33,840 --> 00:01:36,279
Speaker 5: That constraint, at least for right now, has been lifted.

34
00:01:36,360 --> 00:01:38,559
Speaker 3: Yeah, and you can see it with investors right moving

35
00:01:38,560 --> 00:01:41,480
Speaker 3: into it in a big way in the aftermarket. All right, guys,

36
00:01:41,520 --> 00:01:43,880
Speaker 3: let's get to some of the individual gainers. As you said, Katie,

37
00:01:44,240 --> 00:01:46,800
Speaker 3: a lot of winners in today's session. Hey, a lot

38
00:01:46,840 --> 00:01:50,280
Speaker 3: of names in the nuclear energy space, definitely gaining in

39
00:01:50,320 --> 00:01:50,960
Speaker 3: today's session.

40
00:01:51,000 --> 00:01:51,880
Speaker 4: Not everybody, though.

41
00:01:52,160 --> 00:01:54,040
Speaker 3: If you take a look at Constellation Energy, we did

42
00:01:54,120 --> 00:01:57,240
Speaker 3: see initially a pop, but it lost a lot of

43
00:01:57,240 --> 00:01:59,000
Speaker 3: that and I think all of it by the end

44
00:01:59,040 --> 00:02:02,160
Speaker 3: of the close, though, did hold on to most of

45
00:02:02,200 --> 00:02:04,440
Speaker 3: its gain up about five percent. That's a fifty nine

46
00:02:04,720 --> 00:02:07,600
Speaker 3: billion dollar power generation company that's up about thirty percent

47
00:02:07,640 --> 00:02:08,120
Speaker 3: year today.

48
00:02:08,120 --> 00:02:10,080
Speaker 4: But again, the big reason we've been.

49
00:02:09,960 --> 00:02:12,480
Speaker 3: Talking about this sector today has to do with Consolation

50
00:02:12,760 --> 00:02:16,040
Speaker 3: Energy agreeing to sell a bunch of power from one

51
00:02:16,080 --> 00:02:20,160
Speaker 3: of its operating nuclear power plants in Illinois to meta platforms.

52
00:02:20,160 --> 00:02:21,880
Speaker 4: So again we're thinking about AI.

53
00:02:21,680 --> 00:02:24,560
Speaker 3: Demand, we're thinking about how we power and nuclear tends

54
00:02:24,600 --> 00:02:28,800
Speaker 3: to increasingly be the way forward. I mentioned semiconductors. I

55
00:02:28,840 --> 00:02:32,000
Speaker 3: think all thirty names in the socks we're up today,

56
00:02:32,040 --> 00:02:34,800
Speaker 3: and that includes Broadcom up about two point nine percent

57
00:02:34,840 --> 00:02:37,519
Speaker 3: here at the close. The company began shipping a new

58
00:02:37,600 --> 00:02:40,160
Speaker 3: version of its data centers switch chips that.

59
00:02:40,160 --> 00:02:41,480
Speaker 4: Can boost the efficiency of.

60
00:02:41,480 --> 00:02:43,880
Speaker 3: AI accelerators, aiming to take a bigger role in the

61
00:02:43,919 --> 00:02:47,440
Speaker 3: booming market for AI computing. So yeah, all eyes on

62
00:02:47,480 --> 00:02:51,519
Speaker 3: broad Keep in mind that it does report after market close.

63
00:02:51,600 --> 00:02:53,959
Speaker 3: That happens on June fifth, so a little bit later

64
00:02:54,000 --> 00:02:56,200
Speaker 3: this week. Dollar general, I think this is the number

65
00:02:56,200 --> 00:02:58,480
Speaker 3: one gainer YEP in the s and P five hundred,

66
00:02:58,480 --> 00:03:01,760
Speaker 3: finishing the day up more than sixteen percent, its highest

67
00:03:01,800 --> 00:03:02,600
Speaker 3: intra day ever.

68
00:03:02,800 --> 00:03:06,239
Speaker 4: As well, began I should point out. We talked about

69
00:03:06,240 --> 00:03:06,760
Speaker 4: this earlier.

70
00:03:07,480 --> 00:03:11,080
Speaker 3: The company reported first quarter profit and sales that topped expectations,

71
00:03:11,080 --> 00:03:14,040
Speaker 3: and management also boosted its comparable sales forecast for the

72
00:03:14,080 --> 00:03:15,799
Speaker 3: full year, as well as the low end of its

73
00:03:15,840 --> 00:03:18,800
Speaker 3: EPs target, and tim of course, gave some more color

74
00:03:19,080 --> 00:03:22,160
Speaker 3: into a Dollar General about kind of richer consumers, wealthier

75
00:03:22,160 --> 00:03:24,160
Speaker 3: consumers maybe trading.

76
00:03:23,800 --> 00:03:26,000
Speaker 4: Down in this environment. So we wonder what that'll mean.

77
00:03:26,040 --> 00:03:28,280
Speaker 5: Have you ever been in a Dollar General, Carol, I've

78
00:03:28,280 --> 00:03:28,600
Speaker 5: been in.

79
00:03:29,320 --> 00:03:32,120
Speaker 4: Some kind of dollar store at some point. What are

80
00:03:32,120 --> 00:03:34,040
Speaker 4: you saying? Have you ever been in?

81
00:03:34,240 --> 00:03:38,400
Speaker 5: Of course not, you know, I'm a snob. Wow, No,

82
00:03:38,920 --> 00:03:39,280
Speaker 5: I can.

83
00:03:40,320 --> 00:03:42,240
Speaker 6: I'm just gonna I'm going to move on. I'm going

84
00:03:42,320 --> 00:03:43,240
Speaker 6: to move you guys on.

85
00:03:43,320 --> 00:03:43,680
Speaker 2: How's that?

86
00:03:43,960 --> 00:03:45,200
Speaker 6: I want to start with ken View. It was the

87
00:03:45,200 --> 00:03:48,480
Speaker 6: worst performer in the S and pleny percent of base

88
00:03:49,120 --> 00:03:51,960
Speaker 6: six point two percent today, following the most intra day

89
00:03:52,000 --> 00:03:55,000
Speaker 6: in more than a year, comes after the company's CEO

90
00:03:55,480 --> 00:03:58,680
Speaker 6: one that seasonal demand is behind last year and behind

91
00:03:58,720 --> 00:04:01,480
Speaker 6: ken View's own expectation. Here's what he said. Quote, it's

92
00:04:01,520 --> 00:04:03,280
Speaker 6: not a great year so far for allergy, and the

93
00:04:03,320 --> 00:04:06,000
Speaker 6: sun category is more or less the same. He said,

94
00:04:06,000 --> 00:04:08,560
Speaker 6: A longer winter season push spring later into the second quarter,

95
00:04:08,600 --> 00:04:10,880
Speaker 6: it caused allergy products to see it later start to

96
00:04:10,920 --> 00:04:13,320
Speaker 6: the season. He also said, we definitely see that the

97
00:04:13,320 --> 00:04:16,520
Speaker 6: consumer continues to be under pressure, regardless of the geography.

98
00:04:16,560 --> 00:04:19,359
Speaker 5: For slightly got to interrupt. You got an interrupt you

99
00:04:19,360 --> 00:04:19,840
Speaker 5: to him. Sorry.

100
00:04:19,920 --> 00:04:23,560
Speaker 1: Heli Packard Enterprises reporting earnings right now for their fiscal

101
00:04:23,600 --> 00:04:26,080
Speaker 1: second quarter. The company says revenue coming in at about

102
00:04:26,120 --> 00:04:28,760
Speaker 1: seven point six three billion dollars. The street was looking

103
00:04:28,800 --> 00:04:30,960
Speaker 1: for seven point four to six, so that is a

104
00:04:31,000 --> 00:04:34,279
Speaker 1: beat on the top line. On the bottom line, just

105
00:04:34,320 --> 00:04:36,400
Speaker 1: ADPs at thirty eight cents a share, the street was

106
00:04:36,400 --> 00:04:39,120
Speaker 1: looking for thirty three cents. That's also a beat. Here's

107
00:04:39,160 --> 00:04:41,000
Speaker 1: your guidance. I'm going to start with the quarter. For

108
00:04:41,120 --> 00:04:43,719
Speaker 1: the quarter, the third quarter, which is the quarter in

109
00:04:43,800 --> 00:04:45,839
Speaker 1: right now, eight point two to eight point five billion

110
00:04:45,839 --> 00:04:47,880
Speaker 1: dollars is the range they're giving. The low end of

111
00:04:47,880 --> 00:04:51,039
Speaker 1: that range is above the average of street estimates. On

112
00:04:51,120 --> 00:04:53,719
Speaker 1: the bottom line for the quarter, forty cents to forty

113
00:04:53,760 --> 00:04:56,080
Speaker 1: five cents, the street on average was looking for forty

114
00:04:56,080 --> 00:04:58,560
Speaker 1: two cents. And the company says that for the full year,

115
00:04:58,800 --> 00:05:01,279
Speaker 1: it still sees free cap flow of about one point

116
00:05:01,320 --> 00:05:04,559
Speaker 1: billion one billion dollars the street looking for one point

117
00:05:04,560 --> 00:05:06,479
Speaker 1: four billion dollars. So it looks like a beat on

118
00:05:06,480 --> 00:05:08,279
Speaker 1: the top and the bottom line, and the guidance on

119
00:05:08,360 --> 00:05:10,920
Speaker 1: both the top and the bottom line just around what

120
00:05:10,960 --> 00:05:11,800
Speaker 1: the street was looking for.

121
00:05:11,800 --> 00:05:13,440
Speaker 4: All right, guys, let's get to CrowdStrike. Man.

122
00:05:13,480 --> 00:05:15,520
Speaker 3: This stock has been on a tear this year, up

123
00:05:15,560 --> 00:05:16,400
Speaker 3: about forty.

124
00:05:16,120 --> 00:05:16,760
Speaker 4: Percent or so.

125
00:05:17,400 --> 00:05:21,839
Speaker 3: The company out in terms of first quarter revenue matching estimates.

126
00:05:21,839 --> 00:05:24,320
Speaker 3: But let's get to actually the outlook. Because the company

127
00:05:24,360 --> 00:05:27,200
Speaker 3: sees second quarter just ADPs from eighty two to eighty

128
00:05:27,200 --> 00:05:30,280
Speaker 3: four CENTSUS share. Street estimate is eighty two cents a share.

129
00:05:30,360 --> 00:05:33,320
Speaker 3: Also sees fiscal year just at EPs of three dollars

130
00:05:33,360 --> 00:05:36,559
Speaker 3: forty four cents to three dollars fifty six cents a share.

131
00:05:37,040 --> 00:05:39,560
Speaker 3: It looks like it's upping it that estimate because it

132
00:05:39,640 --> 00:05:41,680
Speaker 3: had seen three thirty three to three forty five. I'm

133
00:05:41,680 --> 00:05:45,440
Speaker 3: looking at crowds CrowdStrike excuse me, though, down about six

134
00:05:45,520 --> 00:05:48,680
Speaker 3: percent here in the aftermarket, so it looks like some

135
00:05:48,760 --> 00:05:52,960
Speaker 3: investor disappointment. I'm just looking through first quarter revenue that

136
00:05:53,240 --> 00:05:55,880
Speaker 3: was one point one billion the estimate that was smack

137
00:05:56,400 --> 00:05:58,240
Speaker 3: in line in terms of what the street was expecting,

138
00:05:58,240 --> 00:06:00,400
Speaker 3: and first quarter just ADPs seventy three and that was

139
00:06:00,400 --> 00:06:03,039
Speaker 3: a beat of about seven cents a share.

140
00:06:03,120 --> 00:06:05,560
Speaker 4: So maybe some concern.

141
00:06:05,200 --> 00:06:08,279
Speaker 3: Potentially about the outlook in the range, but we'll see.

142
00:06:08,400 --> 00:06:11,320
Speaker 6: I'm looking at shares of the enterprise software company ASAUA.

143
00:06:11,320 --> 00:06:13,880
Speaker 6: They're shooting higher in the after hours, down from about

144
00:06:13,880 --> 00:06:17,400
Speaker 6: twenty percent higher moments ago, up about fourteen percent in

145
00:06:17,440 --> 00:06:21,080
Speaker 6: the aftermarket. The company posted first quarter revenue that came

146
00:06:21,080 --> 00:06:23,600
Speaker 6: in above the average analyst estimates at one hundred and

147
00:06:23,640 --> 00:06:27,160
Speaker 6: eighty seven point three million dollars, first quarter adjusted at

148
00:06:27,160 --> 00:06:30,600
Speaker 6: basic EPs coming in at five dollars five cents versus

149
00:06:30,600 --> 00:06:33,320
Speaker 6: a loss per share of six cents. So obviously investors

150
00:06:33,520 --> 00:06:36,119
Speaker 6: like to see that shares jumping in the after hours

151
00:06:36,160 --> 00:06:37,839
Speaker 6: right now, hired by about fourteen percent.

152
00:06:38,160 --> 00:06:38,680
Speaker 4: I want to go.

153
00:06:38,680 --> 00:06:41,400
Speaker 7: Back to CrowdStrike because you're seeing losses deepen in the

154
00:06:41,440 --> 00:06:45,040
Speaker 7: post market right now. CrowdStrike shares currently down almost six

155
00:06:45,160 --> 00:06:47,839
Speaker 7: percent right now. And Carol, you had mentioned it that

156
00:06:48,080 --> 00:06:50,640
Speaker 7: this stock has been on a tear. Expectations were certainly high,

157
00:06:50,680 --> 00:06:53,760
Speaker 7: with a stock up forty three percent year to date,

158
00:06:53,800 --> 00:06:57,840
Speaker 7: but it's that outlook that didn't quite exceed expectations second

159
00:06:57,920 --> 00:07:00,960
Speaker 7: quarter add just at EPs, just reiterate at eighty two

160
00:07:01,000 --> 00:07:03,400
Speaker 7: cents to eighty four cents. The estimate had been for

161
00:07:03,480 --> 00:07:06,240
Speaker 7: eighty two cents. So you think, with the stakes that high,

162
00:07:06,320 --> 00:07:09,200
Speaker 7: maybe a little bit of disappointment, and that's certainly what

163
00:07:09,200 --> 00:07:10,640
Speaker 7: you're seeing in the shares right now, Carol.

164
00:07:10,760 --> 00:07:13,480
Speaker 3: Right you also do have CrowdStrike reporting a share buy

165
00:07:13,480 --> 00:07:15,960
Speaker 3: back authorization of up to a billion dollars, but that's

166
00:07:16,000 --> 00:07:18,120
Speaker 3: not certainly getting investors excited again.

167
00:07:18,200 --> 00:07:19,720
Speaker 4: The stock down six point three percent.

168
00:07:21,040 --> 00:07:25,080
Speaker 2: This Stock Movers report from Bloomberg Radio. Check back with

169
00:07:25,160 --> 00:07:27,720
Speaker 2: us throughout the day for the latest roundup of companies

170
00:07:27,800 --> 00:07:30,880
Speaker 2: making news on Wall Street and for the latest market

171
00:07:30,920 --> 00:07:35,400
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

172
00:07:35,480 --> 00:07:39,000
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with

173
00:07:39,040 --> 00:07:40,560
Speaker 2: the Bloomberg Business app.