1 00:00:02,520 --> 00:00:09,840 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:09,920 --> 00:00:13,360 Speaker 2: This is the closing bell on this stock mover's report. 3 00:00:13,600 --> 00:00:16,560 Speaker 2: The company's making moves at the close of US trading 4 00:00:16,800 --> 00:00:21,479 Speaker 2: with Carol Master, Tim Steneback, Romain Bostick, and Scarlett Foo. 5 00:00:22,680 --> 00:00:25,759 Speaker 1: We are getting some earnings applied materials, of course in 6 00:00:25,800 --> 00:00:28,400 Speaker 1: the semiconductor space, saying that net sales in the most 7 00:00:28,440 --> 00:00:31,000 Speaker 1: recent quarter did come in a little bit light, roughly 8 00:00:31,040 --> 00:00:33,280 Speaker 1: about seven point one billion dollars. The street was just 9 00:00:33,360 --> 00:00:36,120 Speaker 1: looking for just a few million more than that, so 10 00:00:36,200 --> 00:00:39,080 Speaker 1: a modest miss on that front, and on adjusted EPs 11 00:00:39,240 --> 00:00:41,480 Speaker 1: they did beat two dollars and thirty nine cents a share. 12 00:00:41,479 --> 00:00:43,800 Speaker 1: The street was looking for two dollars and thirty one 13 00:00:44,000 --> 00:00:46,360 Speaker 1: cents a share in the company says that for the 14 00:00:46,400 --> 00:00:49,519 Speaker 1: fiscal third quarter, so basically the guidance for their fiscal 15 00:00:49,560 --> 00:00:52,160 Speaker 1: third quarter, they do see net sales in a range 16 00:00:52,200 --> 00:00:54,240 Speaker 1: a pretty wide range of six point seven to seven 17 00:00:54,280 --> 00:00:57,880 Speaker 1: point seven billion. The street on average, Tim was looking 18 00:00:58,120 --> 00:00:59,320 Speaker 1: for seven point two billion. 19 00:00:59,440 --> 00:01:02,840 Speaker 3: Okay, there have applied materials down about one point nine percent. 20 00:01:02,960 --> 00:01:05,720 Speaker 3: A reminder, we're still expecting results from Take to Virgin 21 00:01:05,760 --> 00:01:08,959 Speaker 3: Galactic Kava and a few more as well. In the meantime, 22 00:01:09,000 --> 00:01:10,160 Speaker 3: I do want to take a look at some of 23 00:01:10,200 --> 00:01:11,720 Speaker 3: the gainers on on my radar. 24 00:01:11,760 --> 00:01:11,960 Speaker 4: Today. 25 00:01:12,000 --> 00:01:14,000 Speaker 3: Got to start with foot Locker having its best single 26 00:01:14,080 --> 00:01:17,080 Speaker 3: day ever eighty five point seven percent to the upside. 27 00:01:17,080 --> 00:01:19,840 Speaker 3: This after we learned that Dick's Sporting Goods agreed to 28 00:01:19,880 --> 00:01:22,120 Speaker 3: buy the company. It's a cash or stock deal. It 29 00:01:22,120 --> 00:01:24,959 Speaker 3: applies an equity value of about two point four billion 30 00:01:25,000 --> 00:01:28,440 Speaker 3: dollars and an enterprise value about two point five billion dollars. 31 00:01:29,000 --> 00:01:30,560 Speaker 3: But even though this is the best day ever in 32 00:01:30,600 --> 00:01:34,320 Speaker 3: the stock searched eighty five percent, it's really only at 33 00:01:34,360 --> 00:01:36,840 Speaker 3: levels that were last seen just in December of twenty 34 00:01:36,840 --> 00:01:40,360 Speaker 3: twenty four. The stock has gotten hammered really in recent years. 35 00:01:40,520 --> 00:01:42,160 Speaker 1: It's got interesting too. Yeah, to see some of the 36 00:01:42,600 --> 00:01:44,520 Speaker 1: analyst notes on that. I mean really just kind of 37 00:01:44,520 --> 00:01:46,880 Speaker 1: slamming this deal. I mean, TD Cowan was basically just saying, 38 00:01:46,959 --> 00:01:48,600 Speaker 1: I just don't get it, you know, two point four 39 00:01:48,640 --> 00:01:50,880 Speaker 1: billion dollars or whatever they're paying for foot Locker and 40 00:01:50,920 --> 00:01:52,760 Speaker 1: the soft line retail space to scale up. 41 00:01:52,880 --> 00:01:55,280 Speaker 3: Look. Dana Telsea was on our program a little earlier 42 00:01:55,320 --> 00:01:58,320 Speaker 3: when she heels Advisor. She's really optimistic about this. She said, 43 00:01:58,360 --> 00:02:01,080 Speaker 3: wait and see She reminds everybody the that Dick's Sporting 44 00:02:01,120 --> 00:02:03,840 Speaker 3: Goods in recent years was able to really reinvent the 45 00:02:03,880 --> 00:02:06,400 Speaker 3: way that it sold things in its stores and attract 46 00:02:06,480 --> 00:02:10,560 Speaker 3: this demographic that isn't necessarily attracted to the foot locker store. 47 00:02:10,600 --> 00:02:13,120 Speaker 3: So like young men eighteen to twenty five, for example, 48 00:02:13,240 --> 00:02:14,679 Speaker 3: Can I just be septimistic about this. 49 00:02:14,840 --> 00:02:16,640 Speaker 1: I set foot in the Dicks the other day last 50 00:02:16,639 --> 00:02:19,200 Speaker 1: so Saturday to get something from my wife, the T shirt. 51 00:02:19,560 --> 00:02:21,200 Speaker 1: I hadn't been in one in a long time. I 52 00:02:21,240 --> 00:02:23,880 Speaker 1: have to say they were insanely friendly in there all. 53 00:02:23,919 --> 00:02:26,240 Speaker 1: Really the people work Yeah, yeah, I mean I didn't 54 00:02:26,240 --> 00:02:28,239 Speaker 1: know what I was looking for and they were really helpful. 55 00:02:28,280 --> 00:02:30,320 Speaker 1: It was quite an experience. Yeah, I won't go back, 56 00:02:30,320 --> 00:02:31,400 Speaker 1: but it was quite an experience. 57 00:02:31,720 --> 00:02:32,760 Speaker 3: Did your wife like the shirt? 58 00:02:32,880 --> 00:02:33,200 Speaker 5: She did? 59 00:02:33,240 --> 00:02:34,960 Speaker 1: It was very great. So I'm doing my part here, Okay, 60 00:02:34,960 --> 00:02:35,720 Speaker 1: than you are Nike? 61 00:02:35,720 --> 00:02:36,080 Speaker 5: You shirt? 62 00:02:36,120 --> 00:02:36,400 Speaker 2: All right? 63 00:02:36,440 --> 00:02:37,800 Speaker 1: Happy mak for that in learnings? 64 00:02:37,880 --> 00:02:41,080 Speaker 3: All right, Cisco, let's look at what shares a Cisco did. 65 00:02:41,120 --> 00:02:43,040 Speaker 3: They ended up rising on the day today. This after 66 00:02:43,080 --> 00:02:45,880 Speaker 3: the company issued a solid forecast for revenue up close 67 00:02:45,919 --> 00:02:48,680 Speaker 3: to five percent today. Solid forecast for revenue for the 68 00:02:48,680 --> 00:02:50,919 Speaker 3: current quarter sales expected to be fourteen and a half 69 00:02:50,960 --> 00:02:54,440 Speaker 3: billion to fourteen point seven billion dollars. The company, like 70 00:02:54,480 --> 00:02:57,160 Speaker 3: many others that have reported in recent weeks, is benefiting 71 00:02:57,200 --> 00:03:00,959 Speaker 3: from demand for systems using AI tech operations in cloud 72 00:03:00,960 --> 00:03:04,320 Speaker 3: computing providers expanding their networks to handle the Surgeon AI software. 73 00:03:04,320 --> 00:03:07,040 Speaker 3: We also got some news about a little executive shakeup 74 00:03:07,080 --> 00:03:10,239 Speaker 3: at the company, including the departure of Scott Heron as 75 00:03:10,360 --> 00:03:12,680 Speaker 3: the company's CFO. Once again shares a Cisco up by 76 00:03:12,680 --> 00:03:16,280 Speaker 3: more than four point eight percent and finally back to retail. 77 00:03:16,320 --> 00:03:21,120 Speaker 3: Birkenstockholding bi RK shares up close to six percent today. 78 00:03:21,480 --> 00:03:23,640 Speaker 3: The company raised its earnings forecast for the year due 79 00:03:23,639 --> 00:03:26,600 Speaker 3: to strong sales of its high end sandals, expecting adjusted 80 00:03:26,639 --> 00:03:29,240 Speaker 3: earnings of seven hundred and forty million to seven hundred 81 00:03:29,240 --> 00:03:31,880 Speaker 3: and fifty million dollars sales rows eighteen percent on a 82 00:03:31,919 --> 00:03:35,080 Speaker 3: constant currency basis. They saw growth in all regents, including 83 00:03:35,080 --> 00:03:38,520 Speaker 3: America's year at Middle East and Africa, and Emily, Asia Pacific. 84 00:03:38,520 --> 00:03:40,880 Speaker 5: It is sandal season coming up, and so that makes 85 00:03:40,920 --> 00:03:42,760 Speaker 5: sense why you know sales would be going up and 86 00:03:42,800 --> 00:03:44,520 Speaker 5: people are bullish. I put a couple of things in 87 00:03:44,560 --> 00:03:47,200 Speaker 5: my shopping cart not so long ago. So there you 88 00:03:47,240 --> 00:03:49,480 Speaker 5: have it. Let's also look at take two, because those 89 00:03:49,720 --> 00:03:52,760 Speaker 5: results just came out, and the ticker here is T two, 90 00:03:53,080 --> 00:03:56,920 Speaker 5: and we are looking at the first quarter. Let's give 91 00:03:56,960 --> 00:03:59,280 Speaker 5: you the numbers that for the quarter that ended first quarter, 92 00:03:59,480 --> 00:04:02,320 Speaker 5: just fourth quarter adjusted EPs was a dollarh eight compared 93 00:04:02,360 --> 00:04:04,600 Speaker 5: with twenty eight cents a year earlier. Not sure we're 94 00:04:04,640 --> 00:04:08,000 Speaker 5: care impairing likewoud like here, but in terms of adjusted 95 00:04:08,080 --> 00:04:10,320 Speaker 5: EBITDA for the period, two hundred and ninety one point 96 00:04:10,360 --> 00:04:12,920 Speaker 5: three million does miss the average al assessment, which was 97 00:04:13,040 --> 00:04:16,040 Speaker 5: just under three hundred and ten million. As for the outlook, 98 00:04:16,080 --> 00:04:19,480 Speaker 5: it sees first quarter adjusted EPs of twenty cents to 99 00:04:19,560 --> 00:04:22,200 Speaker 5: thirty cents, and it sees netbooking so of anywhere from 100 00:04:22,240 --> 00:04:24,520 Speaker 5: one and a quarter billion to one point three billion. 101 00:04:24,520 --> 00:04:27,280 Speaker 5: Analysts we're looking for on average one point two seven 102 00:04:27,320 --> 00:04:29,320 Speaker 5: billion dollars. Right now, the stock is lower by about 103 00:04:29,360 --> 00:04:31,080 Speaker 5: five percent in after hours trading. 104 00:04:31,240 --> 00:04:33,760 Speaker 3: Okay, I'm watching what's going on with Virgin Galactic ticker 105 00:04:33,880 --> 00:04:38,200 Speaker 3: SPC SPCE up three percent in the after hours. Some 106 00:04:38,279 --> 00:04:41,000 Speaker 3: headlines crossing astronauts sales are expected to open up in 107 00:04:41,000 --> 00:04:43,920 Speaker 3: the first quarter of next year. We also got results 108 00:04:44,000 --> 00:04:47,520 Speaker 3: from the company. First quarter revenue beat estimates. Did report 109 00:04:47,520 --> 00:04:50,320 Speaker 3: a loss per share of two dollars and thirty eight cents, 110 00:04:50,400 --> 00:04:52,920 Speaker 3: versus a loss per share last year of twenty five 111 00:04:53,000 --> 00:04:55,880 Speaker 3: per cents. The company sees second quarter negative free cash 112 00:04:55,920 --> 00:04:57,840 Speaker 3: flow from a one hundred and five million to two 113 00:04:57,960 --> 00:05:01,159 Speaker 3: hundred and thirty excuse me too, one hundred and fifteen 114 00:05:01,160 --> 00:05:04,280 Speaker 3: million dollar dollars. The estimate for the cash flow is 115 00:05:04,320 --> 00:05:06,599 Speaker 3: a negative one hundred and six point one million dollars. 116 00:05:06,600 --> 00:05:09,679 Speaker 3: Shares hired by about three point six percent. First quarter 117 00:05:10,000 --> 00:05:14,080 Speaker 3: revenue coming in just above estimates at half a billion. 118 00:05:14,120 --> 00:05:16,719 Speaker 3: Is that half a billion dollars? Yeah, half a billion 119 00:05:16,760 --> 00:05:20,160 Speaker 3: dollars adjusted EBAD loss of seventy two million dollars. The 120 00:05:20,240 --> 00:05:24,159 Speaker 3: estimated loss was for seventy point nine million dollars, and 121 00:05:24,200 --> 00:05:27,640 Speaker 3: excuse me, that's half a million dollars for first quarter revenue. 122 00:05:27,640 --> 00:05:28,120 Speaker 3: Excuse me. 123 00:05:28,360 --> 00:05:30,440 Speaker 4: Those shares hire right now. But let's look at some 124 00:05:30,480 --> 00:05:34,120 Speaker 4: of the decliners today. United Health shares closed for the 125 00:05:34,240 --> 00:05:37,520 Speaker 4: eighth straight day, closing lower down eleven percent, but the 126 00:05:37,560 --> 00:05:40,560 Speaker 4: stock did plunge as much as nineteen percent, hitting the 127 00:05:40,560 --> 00:05:44,000 Speaker 4: lowest level since April twenty twenty. After the wall Street 128 00:05:44,040 --> 00:05:48,120 Speaker 4: Journal reported that the Health Insurance under criminal investigation for 129 00:05:48,240 --> 00:05:51,640 Speaker 4: possible Medicare fraud. The company said in this statement late 130 00:05:51,760 --> 00:05:54,640 Speaker 4: yesterday that the DOJ had it notified the company about 131 00:05:54,640 --> 00:05:58,120 Speaker 4: the reported investigation, and they said, quote, we stand by 132 00:05:58,120 --> 00:06:01,520 Speaker 4: the integrity of our Medicare advantage program. But still a 133 00:06:01,600 --> 00:06:04,960 Speaker 4: really rough string of days for that company. I'm also 134 00:06:04,960 --> 00:06:07,560 Speaker 4: watching shares of Meta. That stock closed down two point 135 00:06:07,600 --> 00:06:10,640 Speaker 4: four percent after the Wall Street Journal reported that the 136 00:06:10,680 --> 00:06:14,320 Speaker 4: Facebook parent is delaying the rollout of its flagship AI 137 00:06:14,440 --> 00:06:17,560 Speaker 4: intelligence model. It's called Behemoth, but we'll have to wait 138 00:06:17,600 --> 00:06:20,360 Speaker 4: a little bit longer to see that full rollout. And finally, 139 00:06:20,440 --> 00:06:24,000 Speaker 4: coinbase shares closed down seven percent. It was the worst 140 00:06:24,080 --> 00:06:27,239 Speaker 4: day since March twenty eighth, and this is just after 141 00:06:27,320 --> 00:06:28,880 Speaker 4: it was announced that it was added to the S 142 00:06:28,920 --> 00:06:31,200 Speaker 4: and P five hundred. It was up over twenty percent 143 00:06:31,560 --> 00:06:34,359 Speaker 4: earlier this week, and yet this morning got hit with 144 00:06:34,520 --> 00:06:37,520 Speaker 4: two pieces of news that really weighed on the Sharre's 145 00:06:37,600 --> 00:06:41,240 Speaker 4: first hack over at the largest crypto exchange. Hackers had 146 00:06:41,240 --> 00:06:45,279 Speaker 4: near constant access to some coinbased Global's most valuable customer 147 00:06:45,360 --> 00:06:49,320 Speaker 4: data since January, according to Bloomberg reporting. And then additionally, 148 00:06:49,320 --> 00:06:51,560 Speaker 4: the New York Times reported that the SEC has been 149 00:06:51,560 --> 00:06:56,520 Speaker 4: investigating whether the company misstated its user numbers in past disclosures. 150 00:06:57,680 --> 00:07:01,880 Speaker 2: The stock mover's report from bloom Check back with us 151 00:07:01,920 --> 00:07:04,719 Speaker 2: throughout the day for the latest roundup of companies making 152 00:07:04,800 --> 00:07:08,400 Speaker 2: news on Wall Street and for the latest market moving headlines. 153 00:07:08,640 --> 00:07:12,640 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 154 00:07:12,680 --> 00:07:15,760 Speaker 2: dot com, and on Applecarplay and Android Auto with the 155 00:07:15,760 --> 00:07:17,160 Speaker 2: Bloomberg Business app.