Speaker 1: Bloomberg Audio Studios.
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Speaker 2: The Stock Movers Report. Your roundup of companies making moves
Speaker 2: in the stock market. Harnessing the power of Bloomberg data.
Speaker 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Tim Stenevek with Lisa Mateo. We're joined by Bloomberg
Speaker 3: News U.S. equities reporter Matthew Griffin.
Speaker 4: Hey, Matt. Hey, Tim, how's it going?
Speaker 1: Good. So far, so good. How are the stocks looking today?
Speaker 4: Well, we can start off with one that's doing pretty well.
Speaker 4: That is Salesforce ticker CRM. It's actually up 22% and
Speaker 4: trading at levels not seen since January after the company
Speaker 4: gave investors a couple things to chew on that are
Speaker 4: soothing these AI disruption fears. So you had Their revenue
Speaker 4: outlook for the current quarter, $ 11. 5 billion, was above expectations.
Speaker 4: You also have this deal with Anthropic to integrate Salesforce's
Speaker 4: products into the Cloud Chatbot. And then another thing, you
Speaker 4: have the expectation for $ 1. 5 billion of revenue from the
Speaker 4: AgentForce AI tool this year. It all adds up to soothe, again,
Speaker 4: some of these what... we sometimes call the SaaSpocalypse fears.
Speaker 4: And their CEO, Mark Benioff, actually spoke to this on
Speaker 4: the earnings call. He got right into it. He said,
Speaker 4: the SaaSpocalypse is nonsense. Now, I don't think investors are
Speaker 4: fully giving him the benefit of the doubt on that yet.
Speaker 4: Shares are still down on a year-to-date basis, but this
Speaker 4: definitely helps.
Speaker 2: I saw the SaaSpocalypse.
Speaker 1: I was like, how do you say that?
Speaker 2: Thank you for that.
Speaker 1: I think that's right. You cleared it up for me.
Speaker 1: I have a feeling you're going to stay on the
Speaker 1: AI theme with HPQ.
Speaker 4: Yes, and here we're seeing maybe one of the dark
Speaker 4: sides of the AI rally in the broader market, which
Speaker 4: is these higher memory prices, because there's so much demand
Speaker 4: for memory chips. And today, HP Inc., that's ticker HPQ,
Speaker 4: down 4.5% after they.
Speaker 4: Reported that their unit shipments had fallen 16% in the
Speaker 4: PC business. The connection there is they've had to raise
Speaker 4: their prices in conjunction with those memory chips going up
Speaker 4: in price. And so even as revenue grew overall in
Speaker 4: the PC business, even as they gave generally good overall
Speaker 4: results and an outlook, investors are worried about what those
Speaker 4: higher prices are going to mean in.
Speaker 1: The long run.
Speaker 3: Yeah, I mean, if we think about it just from
Speaker 3: the consumer perspective, it means higher prices for us for
Speaker 3: certain products. I mean, look no further than what Apple
Speaker 3: announced earlier this summer. that they're going to be raising
Speaker 3: prices and they have raised prices on certain products. We'll
Speaker 3: wait to see what the new iPhone tells us in
Speaker 3: September when we expect that to be unveiled and the
Speaker 3: price there, but yeah, prices are going up because this,
Speaker 3: these components are going up.
Speaker 1: They are.
Speaker 4: And I've been thinking about getting a new phone and
Speaker 4: just kind of waiting nervously to see what happens.
Speaker 2: Yeah.
Speaker 3: I'm due for a new one. So I'm going to be,
Speaker 3: I know I'm going to be paying up. I probably
Speaker 3: have an older one than you, Matt.
Speaker 1: So I don't know. I kind of hold onto these
Speaker 1: things for a long time. All right. Uh, are we
Speaker 1: going to get a burger? What's going on here?
Speaker 4: Well, investors in Wendy's, indeed, they might need a hamburger
Speaker 4: to cheer them up. That's ticker W-E-N, down 14% after
Speaker 4: a report from Reuters that Nelson Peltz's Tryon Fund Management
Speaker 4: currently has no plans to make a bid for the
Speaker 4: fast food chain. The reason that matters is there had
Speaker 4: been a report earlier this month that Tryon was planning
Speaker 4: a bid in.
Speaker 4: Coordination with some other investors. And now that you don't
Speaker 4: have that sort of takeout premium floor in the valuation,
Speaker 4: investors have to focus on the fundamentals here. That's six
Speaker 4: straight quarters of declining comparable sales. That's analyst expectations for
Speaker 4: those declines to continue. They do have a new CEO.
Speaker 4: We'll see if they can turn things around on their own.
Speaker 4: But right now, investors are not happy. And didn't the
Speaker 4: shares kind of spike up earlier in August because they
Speaker 4: thought this was going to happen?
Speaker 2: They did.
Speaker 4: I mean, this looked like a relatively attractive takeout target,
Speaker 4: kind of beleaguered stock. And again, now they're kind of
Speaker 4: on their own. Bloomberg Intelligence actually said that... Those same
Speaker 4: store sales metrics, they could improve under the new leadership team,
Speaker 4: even without a bid. But this stock, it had been
Speaker 4: green year to date after that, the earlier report. And
Speaker 4: now today, back in the red, down 6% in 2026.
Speaker 3: An entire discussion of Wendy's and no mention of a
Speaker 3: square burger patty.
Speaker 1: Okay, we'll do it. Square burger over at Wendy's. Matthew Griffin, U.S.
Speaker 1: equities reporter for Bloomberg News.
Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
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