WEBVTT - Closing Bell: Booking 3Q Earnings, Paypal Gains, JetBlue Faces Challenges

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>This is the closing bell on the stock movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostick and Scarlet Food.

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<v Speaker 3>All right, we do have some earnings crossing the wire

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<v Speaker 3>right now. This coming from Booking Holdings. Here and here

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<v Speaker 3>are some of the headlines. Third quarter adjusted EBDA coming

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<v Speaker 3>in at four point two to three billion dollars. That

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<v Speaker 3>is a beat for booking, at least on that line item.

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<v Speaker 3>The estimate had been for four billion dollars. Third quarter

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<v Speaker 3>gross bookings coming in at forty nine point seven billion dollars.

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<v Speaker 3>That's also a beat of expectations that were just a

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<v Speaker 3>hair below forty eight billion dollars. And the nights sold

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<v Speaker 3>when it comes to the third quarter, the room nights

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<v Speaker 3>sold coming in at three hundred and twenty three million.

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<v Speaker 4>That is also ahead of expectations.

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<v Speaker 3>You can see the after hours trade, though not too

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<v Speaker 3>much reaction yet. We'll have to parse through that, but

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<v Speaker 3>again a beat when it comes to adjustin Viada.

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<v Speaker 5>All right, guys, let's as we wait for some more earnings.

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<v Speaker 5>Just a couple of the big outperformers in today's session,

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<v Speaker 5>PayPal at its highs up almost thirteen percent, finishing the

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<v Speaker 5>day with a gain of about four percent, a top

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<v Speaker 5>gainer in both the S and P five hundred Nasdaq

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<v Speaker 5>one hundred company raising its full year earnings guidance and

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<v Speaker 5>announced to tie up with open Ai to embed its

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<v Speaker 5>digital wallet into Chat GBT, sending it shares up the

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<v Speaker 5>most in more than six months. So a big deal there, Nokia.

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<v Speaker 5>Speaking of deals, thank you very much in Vidia. We

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<v Speaker 5>did see Nokia ADRs that train the US soaring in

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<v Speaker 5>today's session, up about twenty two percent, and Vidia planning

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<v Speaker 5>to make a one billion dollar equity investment in Nokia. That's,

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<v Speaker 5>as we have reported out, kind of a vindication that

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<v Speaker 5>Nokia's pivot from Mobile Networking Kit into AI by the

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<v Speaker 5>sector's king maker. I mean, listen, that is a big

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<v Speaker 5>endorsement from Nvidia for Nokia and then UPS just want

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<v Speaker 5>to point.

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<v Speaker 6>That one out.

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<v Speaker 5>Up almost eight percent in today's session, smashing Wall Street's

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<v Speaker 5>profit expectations. The company cutting costs. They have been on

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<v Speaker 5>that maneuver for a while. They cut thirty four thousand

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<v Speaker 5>jobs this year, which goes to what Romaine was talking

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<v Speaker 5>about earlier about the job cuts that we were seeing

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<v Speaker 5>at the company's closing owned buildings.

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<v Speaker 6>It's all this cost cutting initiative.

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<v Speaker 5>They expect to achieve three and a half billion in

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<v Speaker 5>total year over your cost savings in this year alone.

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<v Speaker 6>So Bester's liking that.

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<v Speaker 1>Can I just add an honorable mention? Wayfair twenty three

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<v Speaker 1>percent jump today, Carol Master highest best day. I should

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<v Speaker 1>point out going back to January of twenty twenty. I

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<v Speaker 1>heard you had the CEO on earlier today, right right, cfolks.

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<v Speaker 7>Yeah, Kay Giliver joined us for an extended conversation. She was, look,

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<v Speaker 7>this company absolutely surging this year. Remember it's a marketplace,

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<v Speaker 7>so they're not like actually seeing they don't have the inventory. Yeah,

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<v Speaker 7>they're just they're a marketplace that connects buyers and sellers.

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<v Speaker 7>But she's saying, you know, she's she's seeing, she's optimistic.

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<v Speaker 7>She's really optimistic, and she was obviously pleased with today's performance.

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<v Speaker 1>Yeah, I guess Carl Master has been buying a lot

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<v Speaker 1>of pillows.

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<v Speaker 7>Yeah, yeah, she's not allowed to buy anymore.

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<v Speaker 6>I'm not allowed to. My was like, there's no more

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<v Speaker 6>room on the bed.

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<v Speaker 1>There.

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<v Speaker 3>Watching show.

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<v Speaker 1>I don't know what it is with you women and pillow?

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<v Speaker 1>You got thirty eight pillows on my bed and I'm

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<v Speaker 1>only allowed to sleep.

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<v Speaker 4>On thirty eight.

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<v Speaker 6>I was like, don't touch them, don't touch it.

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<v Speaker 1>I know, it's like what and the only one I'm

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<v Speaker 1>allowed to touch is like the worst pillows?

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<v Speaker 3>So true.

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<v Speaker 7>Okay, let's go to some of the decliners before we

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<v Speaker 7>get some more earnings. Guys, well you have.

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<v Speaker 4>Katie, I actually have four on my bed, which is interesting.

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<v Speaker 1>You got to step it out, spar.

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<v Speaker 5>It's only been married a little bit, right, like a

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<v Speaker 5>few years, married like eight years.

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<v Speaker 6>Oh well, come on, step up your game, girl, all right,

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<v Speaker 6>all right.

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<v Speaker 7>Jeff Blue shares falling close to twelve percent today. The

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<v Speaker 7>company talked about the challenges that it would have through

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<v Speaker 7>the holiday travel season, rising fuel prices, hurricane and US

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<v Speaker 7>government shutdown. Executives, though said demand for premium offerings is

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<v Speaker 7>stronger compared with the main cabin his air travel rebounds. Investors,

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<v Speaker 7>though growing impatient with executives' ability to meet cost cutting

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<v Speaker 7>targets once again, Jet Blue down about twelve percent, and

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<v Speaker 7>then watching what happened with a couple gaming stocks today,

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<v Speaker 7>A DraftKings down five and a half percent Flutter Entertainment.

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<v Speaker 7>It's the parent company of excuse Ye, parent company of FanDuel.

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<v Speaker 7>Down three percent. Those companies extended acline following a Bloomberg

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<v Speaker 7>report that Polymarket is preparing to return to the US

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<v Speaker 7>in the coming weeks to focus on sports betting. But

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<v Speaker 7>shares were already down because Trump Media and Technology set

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<v Speaker 7>it plans to make prediction contracts available on its truth

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<v Speaker 7>social network that's called or will be called truth Predict,

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<v Speaker 7>which is interesting because there are other companies out there

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<v Speaker 7>that do this, but they have relationships with the Trump

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<v Speaker 7>family already, like call She and poly Market as well,

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<v Speaker 7>so it's getting a little crowded when it comes to

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<v Speaker 7>those predictions. And finally, VF Corp. Down twelve point two percent,

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<v Speaker 7>biggest intra day decline going back months. The north Face

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<v Speaker 7>and Vans owner issued third quarter adjusted operating guidance that

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<v Speaker 7>missed the consensus expectations. Shares once again down twelve point

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<v Speaker 7>two percent.

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<v Speaker 1>All right, I just let's do a quick check on

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<v Speaker 1>yield here. I mean, they actually went nowhere. But I

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<v Speaker 1>really just want to use this as an excuse to

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<v Speaker 1>remind everyone actually a FED meeting started today. I know

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<v Speaker 1>everyone was focused about fifteen twenty blocks away down in Washington, DC,

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<v Speaker 1>where Jensen Wong was giving that keynote address. But this

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<v Speaker 1>is a pretty pivotal meeting, not so much as to

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<v Speaker 1>what they do tomorrow, but what they telegraph here for

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<v Speaker 1>the potential rate cuts that could be ahead for the

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<v Speaker 1>rest of the year and into twenty twenty six. Here,

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<v Speaker 1>so a bit of a holding pattern as we wait

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<v Speaker 1>for that decision. Let's go back to earnings right now,

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<v Speaker 1>with Mandalize crossing the wire right now, all your fan

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<v Speaker 1>favorites there under that umbrella of the food company, including Oreos,

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<v Speaker 1>operating margin looks like it did come in above estimates.

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<v Speaker 1>Adjusted EPs also looked like it came in above estimates.

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<v Speaker 1>Seventy three cents a share the street was looking for

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<v Speaker 1>seventy one cents a share of the revenue, relatively in

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<v Speaker 1>line with estimates at nine point seventy four billion. That's

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<v Speaker 1>pretty much what the street was looking for there. Adjust

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<v Speaker 1>to gross margin though coming in light, and that might

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<v Speaker 1>be the reason why you're actually seeing the shares lower

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<v Speaker 1>in the after hours trade. Thirty percent adjusted gross margin.

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<v Speaker 1>The street was looking for about thirty three point one percent,

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<v Speaker 1>so almost a three percentage point difference here from what

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<v Speaker 1>they reported and what the street was looking for.

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<v Speaker 7>All right, we got more earnings crossing. I want to

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<v Speaker 7>start with EA reporting netbookings for the second quarter that

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<v Speaker 7>missed the average analyst estimate. I don't know, does do these?

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<v Speaker 7>The netbooks came in at one point eight two billion dollars.

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<v Speaker 7>The estimate was for one point eight eight billion dollars.

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<v Speaker 7>Total net revenue at one point eight four billion, the

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<v Speaker 7>estimus for one point eighty one billion. As you can imagine,

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<v Speaker 7>we're not seeing shares move that much in the after hours,

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<v Speaker 7>considering this transaction is in progress, but down about oh,

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<v Speaker 7>just ever so fractionally in the after hours.

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<v Speaker 5>All right, guys, let me just get two Frontier Communications

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<v Speaker 5>stock up about eight percent here in twenty twenty five,

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<v Speaker 5>front Deier third quarter revenue slight by one point fifty

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<v Speaker 5>five billion. The estimate on the street was one point

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<v Speaker 5>fifty four billion third quarter adjusted even a six hundred

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<v Speaker 5>and thirty seven million, That two was some outperformance in

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<v Speaker 5>terms of the number. Five ninety six point five million

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<v Speaker 5>was what the street was looking at for right now.

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<v Speaker 5>That stocks unchanged. So we'll look for some more headlines

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<v Speaker 5>on this one.

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<v Speaker 4>And let's also zoom in on Visa here, also reporting earnings.

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<v Speaker 3>Their fourth quarter adjusted EPs beat estimates that came in

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<v Speaker 3>at two dollars and ninety eight cents.

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<v Speaker 4>The estimate had been.

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<v Speaker 3>For two dollars and ninety seven cents, So a very

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<v Speaker 3>slight beat there, and then you take a look at

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<v Speaker 3>some of the other headlines coming through. Fourth quarter net

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<v Speaker 3>revenue came in at ten point seven billion dollars, again

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<v Speaker 3>slightly ahead of estimates which were for about ten point

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<v Speaker 3>six billion dollars, so.

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<v Speaker 4>Very slight beats overall.

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<v Speaker 3>You can see that the stock not too much direction

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<v Speaker 3>right now, down slightly in after hours trade to the

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<v Speaker 3>tune about one percent.

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<v Speaker 7>Right now, Let's take.

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<v Speaker 1>A look at in Phase, a solar company whose stock

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<v Speaker 1>was down almost fifty percent year to date, coming in

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<v Speaker 1>today now moving lower in the after hours trade. For

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<v Speaker 1>the third quarter, adjusted EPs did beat ninety cents a

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<v Speaker 1>year the street was looking for sixty five cents on

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<v Speaker 1>average revenue though in the quarter also beat four hundred

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<v Speaker 1>and ten million. The street was looking for three to

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<v Speaker 1>sixty four. Here's your guidance. So the company says that

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<v Speaker 1>for the fourth quarter revenue will be in a range

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<v Speaker 1>of three hundred and ten to three hundred and fifty

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<v Speaker 1>million dollars the top end of that and just well

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<v Speaker 1>below the average street estimates for three hundred and eighty

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<v Speaker 1>one million. That does appear to be why you're seeing

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<v Speaker 1>some weakness in this year.

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<v Speaker 2>The Stockmovers Report from Bloomberg Radio. Check back with us

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<v Speaker 2>throughout the day for the latest roundup of companies making

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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