Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
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 1: Let's take a look at some stocks on the move today.
Speaker 1: Here's Bloomberg's Lisa Manteo, Lisa we are.
Speaker 3: We're starting with Intel. Take our I INTC. Their shares
Speaker 3: have been down as much as eight percent, so it
Speaker 3: gave an upb third quarter sales forecast, missed estimates for
Speaker 3: some profit measures. But the big part of that slide
Speaker 3: was the tone that its new CEO took. Investors felt
Speaker 3: he was a little more focused on cost cutting than
Speaker 3: bringing back the company's competitive edge. I mean it's layoff
Speaker 3: plan to reduce staff by about fifteen percent. It expects
Speaker 3: further cuts. But he said a few things that kind
Speaker 3: of led to that feeling. He said the company's going
Speaker 3: to cancel some factory projects to take on its more
Speaker 3: conservative approach to future spending. He also called investments begun
Speaker 3: under former CEO pac Gelsing Gerrett quote excessive and unwise,
Speaker 3: and something interesting he told analysts. He said, I don't
Speaker 3: subscribe to belief that you build it, they will come
Speaker 3: fascinating story.
Speaker 4: I've talked with our colleague and King, who's covered this
Speaker 4: industry for so long. It's about the prospects for Intel
Speaker 4: going forward. It really has been in a trough for
Speaker 4: a long time. But I think a big dilemma here
Speaker 4: Tom is does this company continue to both design and
Speaker 4: fabricate chips or to choose to do one or the other.
Speaker 4: And I think that's a huge open question still into
Speaker 4: this new leadership.
Speaker 1: My book of the summer last year, Chip Wars a
Speaker 1: couple of years old. Intel does not farewell. It's just
Speaker 1: as simple as that. It's a really really big problem
Speaker 1: for the nation. Lisa, what's next?
Speaker 3: Okay? Charter Communications CCHTR down about six percent so second
Speaker 3: quarter earnings they missed expectations, but it also reported a
Speaker 3: loss of more Internet customers that it expected, and this
Speaker 3: really stood out. So it lost about one hundred and
Speaker 3: eleven thousand high speed internet customers. It's been feeling the
Speaker 3: pressure for mobile companies because you have all three of
Speaker 3: the big US telecom companies. They've been packaging, you know,
Speaker 3: offerings of wireless phone service with five G or fiber
Speaker 3: internet service. We've seen it right at and T and
Speaker 3: T mobile. They both saw an increase in Internet subscribers
Speaker 3: in the second quarter. And then speaking of bundles, you
Speaker 3: look at Charter their mobile offerings actually did see five
Speaker 3: hundred thousand dollars line editions because they bundle mobile lines,
Speaker 3: which it provides an agreement with Verizon with other products.
Speaker 3: So it's interesting to see how it's it's lost those
Speaker 3: Internet subscribers because of a lot of the bundling that's
Speaker 3: going on with the mobile companies. And finally, Decker's Outdoor
Speaker 3: d e c K their shares a bit up about
Speaker 3: thirteen percent. It did report total sales of nine hundred
Speaker 3: and sixty four million dollars in the period, way above vestments,
Speaker 3: but a big part of that was due to the
Speaker 3: UG boots, the Hoka Running Shoes UG sales they rose
Speaker 3: about nineteen percent from still.
Speaker 4: Still in tom I've been in the UG store on
Speaker 4: behalf of my daughter and it is a crowded Bankly it's.
Speaker 3: It's a crowded door. Her closet is crowded because of it.
Speaker 3: Thank you, Uggs. Hokah increase about twenty percent. And since
Speaker 3: they've been doing so well, and here's the hook, right,
Speaker 3: Uggs have been adding more items year round to kind
Speaker 3: of get you to get more. So it's not just
Speaker 3: the boots, it's the sandals, it's the sneaker. So now
Speaker 3: my daughter has the sneaker, the UG sneakers in a closet.
Speaker 4: So it gets you to Jom's been eyeing those the
Speaker 4: uggs sandals. I think it could be a good look
Speaker 4: for the summer into faulty. Maybe with socks.
Speaker 1: Yeah yeah, Pharaoh told me that I need to wear
Speaker 1: the socks with them. He thought that would run.
Speaker 2: Up the look.
Speaker 1: Do you get the socks with a little funny cutting
Speaker 1: between the beach.
Speaker 4: I've seen that. I hear that's good. I hear you know,
Speaker 4: I hear ampletes say that's.
Speaker 1: Important in Brooklyn on this, I mean, I will.
Speaker 4: Say say there are there are hokah among my daughter's set,
Speaker 4: but sorry, there are ugs among my daughters. But the
Speaker 4: hokahs are very popular. The running shoe, it's like running
Speaker 4: on a cloud.
Speaker 2: I hear.
Speaker 4: I mean they're fision is like they do inches thick.
Speaker 3: Both in her closet right now. Yeah, but he's just
Speaker 3: going to them.
Speaker 2: This stock Mover's report from Blueoomberg Radio. Check back with
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