Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data. Let's
Speaker 2: take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis on this
Speaker 1: Nvidia earnings Wednesday. We got to wait to talk about
Speaker 1: that because we've got lots more earnings to look at
Speaker 1: this morning. Some pretty positive stories here, Dan, starting with
Speaker 1: Target on Target.
Speaker 3: Can we say good morning, good morning? Yeah, on Target
Speaker 3: above estimates. I can't really say above target because that
Speaker 3: doesn't mean anything, but yeah. So Target shares are up
Speaker 3: two percent in the pre market underticker TGT does the
Speaker 3: company posts the best comparable sales growth in four years
Speaker 3: and boosts its outlook. Comparable sales came in at five
Speaker 3: point six percent last quarter, and that was well above estimates.
Speaker 3: The company lifted its revenue guidance for the year to
Speaker 3: four percent. That's from two percent. It's a sign of
Speaker 3: a turnaround as the retailer has been struggling to revive
Speaker 3: growth after the pandemic fueld Boom. The new CEO has
Speaker 3: been focusing on freshening up merchandise in stores and integrating
Speaker 3: more technology operations. Company is also looking to win backshoppers
Speaker 3: amid concerns about inflation. Those shares were already up thirty
Speaker 3: percent year to date, and those results just impressing investors
Speaker 3: even more about the turnaround.
Speaker 1: Can we say the same when it comes to the
Speaker 1: earnings that we got this morning from Lows after Home
Speaker 1: Depots results yesterday barn the.
Speaker 3: Joke, But those shares are lower. They're down three percent
Speaker 3: in the pre market as the company posts posted better
Speaker 3: than expected first quarter adjusted earnings, although comparable sales came
Speaker 3: in slightly below estimates. The company is also maintaining its
Speaker 3: full year guidance for sales and earnings, but digging under
Speaker 3: the hood, Wall Street seemed to have been looking for
Speaker 3: a raise, as estimate were above the midpoint of what
Speaker 3: the company is said to expect. The CEO said that
Speaker 3: despite the challenging macro backdrop for housing amid higher rates,
Speaker 3: Low's remains focused on its total home strategy, which is
Speaker 3: focused on just providing anything you can need, products and
Speaker 3: services for both professionals and consumers. That said, not enough
Speaker 3: to turn that stock around. Down three percent in pre market.
Speaker 1: All right, well, let's talk about some stocks that are
Speaker 1: turning around this morning after earnings. Tell us about vf's results.
Speaker 1: This is the company behind Vans Sneakers, right.
Speaker 3: Exactly, and Vans is actually a bright spot ticker VFC.
Speaker 3: Those shares are up six percent in pre market. It
Speaker 3: has Vans, it has north Face, it has Timberland, It's
Speaker 3: behind a lot of apparel and footwear brands, and particularly Vans.
Speaker 3: America's direct to consumer business return to growth for the
Speaker 3: first time in four years, So a turnaround in an
Speaker 3: area that the company had been struggling in the company
Speaker 3: also noted it expanded margins and operating income came in
Speaker 3: above estimates. The CEO committed to remaining on track to
Speaker 3: achieve its medium term results, said that the company is
Speaker 3: going to do that likely, and the company also broke
Speaker 3: even on adjusted earnings per share basis for the fourth quarter.
Speaker 3: Wall Street was forecasting a loss of two cents per share,
Speaker 3: So holding on to guidance and better than expected quarter.
Speaker 1: And can we say better than expected results for Kava
Speaker 1: after what we've seen in the fast restaurant industry.
Speaker 3: Yeah, the shares are definitely trading like a eight percent
Speaker 3: as it is, as you said, better than expected, the
Speaker 3: Mediterranean restaurant chain raising its annual outlook, and that's as
Speaker 3: diners flocked the restaurants in the first quarter. That led
Speaker 3: to same store sales rising nearly ten percent, which was
Speaker 3: well above estimates. It's pushing back against concerns that higher
Speaker 3: gas prices and cost of living could hurt discretionary spending.
Speaker 3: I'm just going to throw this out there, Lava analysts
Speaker 3: looking towards the pomegranate glazed salmon as a big spur
Speaker 3: for this quarter, so that's getting some investors excited as well.
Speaker 2: This stock mover report from Bloomberg Radio. Check back with
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