WEBVTT - Salesforce Jumps on Outlook, HP Falls on PC Demand Concerns, Wendy's Sinks 

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<v Speaker 1>Bloomberg Audio Studios.

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<v Speaker 3>News.

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<v Speaker 2>The Stock Movers Report. Your roundup of companies making moves

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<v Speaker 2>in the stock market. Harnessing the power of Bloomberg data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Tim Stenevek with Lisa Mateo. We're joined by Bloomberg

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<v Speaker 3>News U.S. equities reporter Matthew Griffin.

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<v Speaker 4>Hey, Matt. Hey, Tim, how's it going?

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<v Speaker 1>Good. So far, so good. How are the stocks looking today?

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<v Speaker 4>Well, we can start off with one that's doing pretty well.

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<v Speaker 4>That is Salesforce ticker CRM. It's actually up 22% and

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<v Speaker 4>trading at levels not seen since January after the company

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<v Speaker 4>gave investors a couple things to chew on that are

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<v Speaker 4>soothing these AI disruption fears. So you had Their revenue

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<v Speaker 4>outlook for the current quarter, $ 11. 5 billion, was above expectations.

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<v Speaker 4>You also have this deal with Anthropic to integrate Salesforce's

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<v Speaker 4>products into the Cloud Chatbot. And then another thing, you

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<v Speaker 4>have the expectation for $ 1. 5 billion of revenue from the

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<v Speaker 4>AgentForce AI tool this year. It all adds up to soothe, again,

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<v Speaker 4>some of these what... we sometimes call the SaaSpocalypse fears.

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<v Speaker 4>And their CEO, Mark Benioff, actually spoke to this on

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<v Speaker 4>the earnings call. He got right into it. He said,

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<v Speaker 4>the SaaSpocalypse is nonsense. Now, I don't think investors are

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<v Speaker 4>fully giving him the benefit of the doubt on that yet.

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<v Speaker 4>Shares are still down on a year-to-date basis, but this

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<v Speaker 4>definitely helps.

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<v Speaker 2>I saw the SaaSpocalypse.

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<v Speaker 1>I was like, how do you say that?

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<v Speaker 2>Thank you for that.

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<v Speaker 1>I think that's right. You cleared it up for me.

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<v Speaker 1>I have a feeling you're going to stay on the

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<v Speaker 1>AI theme with HPQ.

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<v Speaker 4>Yes, and here we're seeing maybe one of the dark

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<v Speaker 4>sides of the AI rally in the broader market, which

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<v Speaker 4>is these higher memory prices, because there's so much demand

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<v Speaker 4>for memory chips. And today, HP Inc., that's ticker HPQ,

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<v Speaker 4>down 4.5% after they.

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<v Speaker 4>Reported that their unit shipments had fallen 16% in the

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<v Speaker 4>PC business. The connection there is they've had to raise

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<v Speaker 4>their prices in conjunction with those memory chips going up

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<v Speaker 4>in price. And so even as revenue grew overall in

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<v Speaker 4>the PC business, even as they gave generally good overall

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<v Speaker 4>results and an outlook, investors are worried about what those

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<v Speaker 4>higher prices are going to mean in.

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<v Speaker 1>The long run.

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<v Speaker 3>Yeah, I mean, if we think about it just from

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<v Speaker 3>the consumer perspective, it means higher prices for us for

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<v Speaker 3>certain products. I mean, look no further than what Apple

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<v Speaker 3>announced earlier this summer. that they're going to be raising

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<v Speaker 3>prices and they have raised prices on certain products. We'll

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<v Speaker 3>wait to see what the new iPhone tells us in

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<v Speaker 3>September when we expect that to be unveiled and the

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<v Speaker 3>price there, but yeah, prices are going up because this,

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<v Speaker 3>these components are going up.

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<v Speaker 1>They are.

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<v Speaker 4>And I've been thinking about getting a new phone and

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<v Speaker 4>just kind of waiting nervously to see what happens.

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<v Speaker 2>Yeah.

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<v Speaker 3>I'm due for a new one. So I'm going to be,

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<v Speaker 3>I know I'm going to be paying up. I probably

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<v Speaker 3>have an older one than you, Matt.

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<v Speaker 1>So I don't know. I kind of hold onto these

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<v Speaker 1>things for a long time. All right. Uh, are we

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<v Speaker 1>going to get a burger? What's going on here?

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<v Speaker 4>Well, investors in Wendy's, indeed, they might need a hamburger

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<v Speaker 4>to cheer them up. That's ticker W-E-N, down 14% after

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<v Speaker 4>a report from Reuters that Nelson Peltz's Tryon Fund Management

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<v Speaker 4>currently has no plans to make a bid for the

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<v Speaker 4>fast food chain. The reason that matters is there had

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<v Speaker 4>been a report earlier this month that Tryon was planning

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<v Speaker 4>a bid in.

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<v Speaker 4>Coordination with some other investors. And now that you don't

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<v Speaker 4>have that sort of takeout premium floor in the valuation,

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<v Speaker 4>investors have to focus on the fundamentals here. That's six

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<v Speaker 4>straight quarters of declining comparable sales. That's analyst expectations for

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<v Speaker 4>those declines to continue. They do have a new CEO.

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<v Speaker 4>We'll see if they can turn things around on their own.

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<v Speaker 4>But right now, investors are not happy. And didn't the

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<v Speaker 4>shares kind of spike up earlier in August because they

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<v Speaker 4>thought this was going to happen?

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<v Speaker 2>They did.

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<v Speaker 4>I mean, this looked like a relatively attractive takeout target,

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<v Speaker 4>kind of beleaguered stock. And again, now they're kind of

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<v Speaker 4>on their own. Bloomberg Intelligence actually said that... Those same

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<v Speaker 4>store sales metrics, they could improve under the new leadership team,

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<v Speaker 4>even without a bid. But this stock, it had been

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<v Speaker 4>green year to date after that, the earlier report. And

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<v Speaker 4>now today, back in the red, down 6% in 2026.

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<v Speaker 3>An entire discussion of Wendy's and no mention of a

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<v Speaker 3>square burger patty.

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<v Speaker 1>Okay, we'll do it. Square burger over at Wendy's. Matthew Griffin, U.S.

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<v Speaker 1>equities reporter for Bloomberg News.

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