WEBVTT - Retail Earnings; Big Tech Boon after Google Ruling

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio 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 Nathan Hager, joined by Bloomberg's Valerie Titel with a

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<v Speaker 3>focus this morning on retail earnings and a lot of

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<v Speaker 3>news in the tech space. Valerie, let's start with the earnings,

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<v Speaker 3>because as we speak, results from Macy's are crossing the

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<v Speaker 3>Bloomberg terminal. Good morning, yeah, and wow, it is positive.

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<v Speaker 1>Macy's stock was up around eight percent after these results

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<v Speaker 1>were just announced. It's now up around five percent, so

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<v Speaker 1>moderated it just slightly. But they upgraded their full year

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<v Speaker 1>adjusted EPs range from one point seven to two dollars

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<v Speaker 1>in five cents. The estimate was for one eighty one,

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<v Speaker 1>but they did raise that range from previous guidance. They

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<v Speaker 1>also decent guidance when it comes to full year net

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<v Speaker 1>sales as well, that topping some estimates. So that's leading

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<v Speaker 1>that stock to trade five percent higher. That's Macy's, the

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<v Speaker 1>big retailer. We also had a discount retailer have some

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<v Speaker 1>earnings today. That was Dollar Tree. Net sales beat estimates

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<v Speaker 1>and shares rose as much as four percent. But however,

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<v Speaker 1>there has been some reassessment of these results. Their guidance

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<v Speaker 1>was a bit lackluster, so Dollar Trees now in the red,

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<v Speaker 1>down one point seven percent. It does seem to show though,

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<v Speaker 1>that these discount retailers are beating when it comes to

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<v Speaker 1>sales figures, benefiting from price conscious consumers. That was something

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<v Speaker 1>that was apparent and the rival Dollar General's earnings last week,

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<v Speaker 1>but the shares seem disappointed by the guidance. They're now

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<v Speaker 1>down two point seven percent in pre u.

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<v Speaker 3>Really interesting now to see a guide taken negatively on

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<v Speaker 3>one of the low cost retailers, while we're seeing this

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<v Speaker 3>boost to Macy's, which had been considered more upscale. So

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<v Speaker 3>we're going to be continuing to watch those stocks throughout

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<v Speaker 3>the day. I'm sure also keeping an eye on Big Tech.

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<v Speaker 3>A lot of moves there. Let's start with what's going

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<v Speaker 3>on with Google parent Alphabet.

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<v Speaker 1>Big Win for Google Big court case Win shares are

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<v Speaker 1>up six and a half percent so far in pre

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<v Speaker 1>market trade. A judge ruled that the search giant won't

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<v Speaker 1>be forced to sell its chrome business in a landmark

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<v Speaker 1>anti trust case. The market is taking it as a

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<v Speaker 1>big win. There were some negatives though, to be aware of.

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<v Speaker 1>Google will be required to share online search data with

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<v Speaker 1>its rivals like Microsoft and Duck Duck Go, and the

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<v Speaker 1>search giant will no longer be able to make contracts exclusive. However,

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<v Speaker 1>a lot of the focus is just in the fact

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<v Speaker 1>that they will not be forced to divest the Chrome browser.

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<v Speaker 1>So Google really benefiting from that case decision today up

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<v Speaker 1>six and a half percent, but it caps off a

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<v Speaker 1>five year legal battle around Google that began under Trump's

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<v Speaker 1>first administration.

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<v Speaker 3>We're also seeing a pretty solid move higher for Apple

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<v Speaker 3>this morning.

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<v Speaker 1>Yeah, this is also on the back of Google's court case,

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<v Speaker 1>Apple rising three and a half percent in pre market.

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<v Speaker 1>Apple gets twenty billion of revvee, new and annual fees

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<v Speaker 1>from Google. They essentially to host the Google's Chrome app

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<v Speaker 1>on its devices, they receive that revenue. So this court

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<v Speaker 1>case determines basically those fees can still continue, and some

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<v Speaker 1>analysts pointing out that they believe that now this case

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<v Speaker 1>is settled, it could actually allow Apple to deepen its

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<v Speaker 1>ties with Google and integrating its Gemini AI features. We

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<v Speaker 1>know that Apple is behind on the AI race, and

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<v Speaker 1>speaking of that, they lost another AI researcher to Meta overnight.

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<v Speaker 1>So that's Apple up three and a half percent.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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