WEBVTT - Curaleaf Soars, Southwest Falls, Texas Instruments Climbs

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.320
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.680 --> 0:00:18.560
<v Speaker 3>Let's take a look at some stocks on the move

0:00:18.760 --> 0:00:21.080
<v Speaker 3>on this Thursday. I'm Carol Master, a long with Tim

0:00:21.079 --> 0:00:23.240
<v Speaker 3>Stanvik with us as Bloomberg News cross ass at reporter

0:00:23.320 --> 0:00:25.800
<v Speaker 3>Isabelle Lee. She's in the house, and I know you're

0:00:25.840 --> 0:00:27.960
<v Speaker 3>talking about a company that we just talked.

0:00:27.720 --> 0:00:28.320
<v Speaker 2>To the CEO.

0:00:28.800 --> 0:00:32.200
<v Speaker 4>Yes, Cure Leaf ticker is CRLF, one of those rare

0:00:32.240 --> 0:00:34.920
<v Speaker 4>ones with five letters, And I did see that interview

0:00:35.040 --> 0:00:38.160
<v Speaker 4>was a great one and very interesting. So this stock

0:00:38.240 --> 0:00:40.959
<v Speaker 4>is moving on the back of the US Department reclassifying

0:00:41.000 --> 0:00:44.040
<v Speaker 4>state regulated marijuana as less dangerous. So they used to

0:00:44.080 --> 0:00:47.720
<v Speaker 4>belong in the same tier as heroin and LSD, but

0:00:47.840 --> 0:00:50.080
<v Speaker 4>now they're going to be in a less dangerous tier.

0:00:50.159 --> 0:00:53.520
<v Speaker 4>So they did stop short of fully legalizing the drug.

0:00:54.280 --> 0:00:56.760
<v Speaker 4>And I think everyone should know that this narrowly applies

0:00:56.760 --> 0:01:00.280
<v Speaker 4>to medical use of marijuana only, but still it's definitely

0:01:00.320 --> 0:01:02.400
<v Speaker 4>going to be a boost for a lot of people

0:01:02.400 --> 0:01:05.080
<v Speaker 4>who are advocating for that. And interestingly enough, in the

0:01:05.080 --> 0:01:07.640
<v Speaker 4>Bloomberg story, we said that this may bolster support for

0:01:08.000 --> 0:01:10.440
<v Speaker 4>the young men who voted for President Trump in twenty

0:01:10.520 --> 0:01:11.039
<v Speaker 4>twenty four.

0:01:11.240 --> 0:01:15.360
<v Speaker 3>Oh. Interesting, I will say Boris Jordan, who we talked

0:01:15.400 --> 0:01:17.840
<v Speaker 3>to of curely if the CEO and a co founder

0:01:17.840 --> 0:01:22.960
<v Speaker 3>and chairman too. He said for full stabilization, stabilization I

0:01:23.000 --> 0:01:25.479
<v Speaker 3>don't know, no, maybe I don't know, or her full approval,

0:01:25.520 --> 0:01:26.960
<v Speaker 3>he was going to take about two to three years,

0:01:26.959 --> 0:01:30.000
<v Speaker 3>and he thinks it'll happen in the next administration, whether

0:01:30.080 --> 0:01:31.440
<v Speaker 3>it's Democrats or Republican.

0:01:31.560 --> 0:01:31.720
<v Speaker 1>Yeah.

0:01:31.720 --> 0:01:33.679
<v Speaker 5>He kind of referred to this as like the first step,

0:01:33.840 --> 0:01:37.080
<v Speaker 5>and there still needs to be legislation that allows banks

0:01:37.120 --> 0:01:41.720
<v Speaker 5>to do work in the space without fear of going,

0:01:41.840 --> 0:01:45.520
<v Speaker 5>you know, going a foul of compliance.

0:01:45.560 --> 0:01:46.720
<v Speaker 1>That's true, say it's truck.

0:01:46.920 --> 0:01:49.040
<v Speaker 4>I actually it was a little bit surprised because marijuana

0:01:49.040 --> 0:01:51.520
<v Speaker 4>is now legal in twenty four US dates for recreational

0:01:51.560 --> 0:01:54.080
<v Speaker 4>purposes and in forty states for medical reasons. But I

0:01:54.080 --> 0:01:55.480
<v Speaker 4>guess in the federal level.

0:01:55.320 --> 0:01:57.840
<v Speaker 3>It's still illegal. Yeah, and that's the issue, and that's

0:01:57.840 --> 0:01:59.000
<v Speaker 3>what makes it so tricky, right.

0:01:59.160 --> 0:02:01.040
<v Speaker 5>He also did say that was m and a opportunity

0:02:01.040 --> 0:02:03.480
<v Speaker 5>as a result of Oh, he was very candid about.

0:02:03.240 --> 0:02:06.160
<v Speaker 3>That, totally totally. So really it's fun to watch. I

0:02:06.200 --> 0:02:09.560
<v Speaker 3>mean listen rally big time yesterday, as you said, but

0:02:09.919 --> 0:02:11.520
<v Speaker 3>kind of giving back a lot of it today, down

0:02:11.560 --> 0:02:14.480
<v Speaker 3>about twenty two percent. But yeah, there's a lot of

0:02:14.480 --> 0:02:16.560
<v Speaker 3>activity out of the White House moving different sector.

0:02:16.800 --> 0:02:18.800
<v Speaker 1>When my parents come and visit New York, they're like.

0:02:18.880 --> 0:02:20.920
<v Speaker 3>They like to buy like this.

0:02:21.040 --> 0:02:23.880
<v Speaker 1>They're like, who's smoking Marilanta? And I'm like, you know,

0:02:23.880 --> 0:02:24.560
<v Speaker 1>they're walking around.

0:02:24.600 --> 0:02:27.240
<v Speaker 5>I'm like, the answer is everybody, Oh right, when you're

0:02:27.240 --> 0:02:28.760
<v Speaker 5>walking house, it's just been like.

0:02:28.800 --> 0:02:30.200
<v Speaker 1>I so thought you were going to go sowhere.

0:02:30.280 --> 0:02:32.200
<v Speaker 3>My parents come to New York, they love to go shopping.

0:02:32.280 --> 0:02:34.960
<v Speaker 1>Yeah no, no, but I mean they live in California.

0:02:35.160 --> 0:02:36.079
<v Speaker 1>That's true plenty there.

0:02:36.280 --> 0:02:37.840
<v Speaker 4>So what this California is smell like.

0:02:38.240 --> 0:02:40.400
<v Speaker 5>Well, it's they're in an area that's not as dense,

0:02:40.480 --> 0:02:42.400
<v Speaker 5>so they're not walking around smelling marijuana.

0:02:42.440 --> 0:02:43.520
<v Speaker 1>But the point is like it's been.

0:02:43.480 --> 0:02:46.520
<v Speaker 5>Legalized there like Boulder or like, yeah, it's like that's

0:02:46.520 --> 0:02:47.240
<v Speaker 5>what New York is like.

0:02:47.280 --> 0:02:48.160
<v Speaker 1>Now New York is like that.

0:02:48.280 --> 0:02:50.359
<v Speaker 3>Yeah, all right, let's go to airlines. We've talked to

0:02:50.360 --> 0:02:52.840
<v Speaker 3>digressed a lot about airlines over the last couple of weeks.

0:02:52.840 --> 0:02:55.799
<v Speaker 3>A lot of them reporting earnings, you got Southwest.

0:02:55.520 --> 0:02:58.880
<v Speaker 4>Southwest down by four percent tickers luv. So the companies

0:02:58.880 --> 0:03:03.000
<v Speaker 4>adjusted quarterly profit and revenue missed expectations. And again it

0:03:03.040 --> 0:03:06.440
<v Speaker 4>comes after United Airlines slash their full year profit forecasts,

0:03:06.440 --> 0:03:08.800
<v Speaker 4>and it just really shows you how these global carriers

0:03:09.080 --> 0:03:11.840
<v Speaker 4>are suffering because of higher fuel prices caused by the

0:03:11.840 --> 0:03:15.600
<v Speaker 4>Middle East War. Southwest decline to provide full yer profit guidance.

0:03:16.000 --> 0:03:19.399
<v Speaker 4>It's said achieving those results would require lower fuel prices.

0:03:19.440 --> 0:03:22.200
<v Speaker 4>And again we have Delta declining to update its full

0:03:22.240 --> 0:03:25.880
<v Speaker 4>year forecasts. United Error and Alaska Air have revised or

0:03:25.919 --> 0:03:27.400
<v Speaker 4>with their own guidance. So it's really going to be

0:03:27.440 --> 0:03:28.200
<v Speaker 4>a challenging time.

0:03:28.280 --> 0:03:31.000
<v Speaker 3>It's tricky like this is an environment that makes those

0:03:31.040 --> 0:03:31.560
<v Speaker 3>tickets for the.

0:03:31.520 --> 0:03:33.720
<v Speaker 4>Summer say goodbye to your travel plans.

0:03:33.960 --> 0:03:35.040
<v Speaker 1>I don't know, maybe.

0:03:34.840 --> 0:03:40.600
<v Speaker 3>Getting a car, well, wait, we'll go somewhere, the air

0:03:40.640 --> 0:03:44.560
<v Speaker 3>conditioning power of bills. It's really it's a really rough.

0:03:44.360 --> 0:03:46.720
<v Speaker 4>Place, tough life.

0:03:47.200 --> 0:03:49.360
<v Speaker 1>Let's go to Texas. Let's go to Texas.

0:03:49.480 --> 0:03:51.760
<v Speaker 4>And then a good note, the stock TXN is up

0:03:51.800 --> 0:03:54.720
<v Speaker 4>by almost eighteen percent. We have the chip maker giving

0:03:54.720 --> 0:03:57.920
<v Speaker 4>a surprisingly strong forecast. Of course this was boosted by

0:03:58.000 --> 0:04:00.720
<v Speaker 4>data centers and industrial equipment demand. There has just been

0:04:00.800 --> 0:04:04.120
<v Speaker 4>relentless a Texas Instrument are the biggest maker of analog

0:04:04.200 --> 0:04:06.520
<v Speaker 4>chips and embedded processors, and this is a new fact

0:04:06.520 --> 0:04:08.960
<v Speaker 4>for me. They're the oldest chip producer in the industry.

0:04:09.240 --> 0:04:11.720
<v Speaker 4>Really okay, I'm glad that that's a new fact for

0:04:11.760 --> 0:04:12.280
<v Speaker 4>you to also.

0:04:12.360 --> 0:04:14.360
<v Speaker 3>Then Intel, huh, I think so.

0:04:14.520 --> 0:04:14.760
<v Speaker 2>Yeah.

0:04:14.800 --> 0:04:16.640
<v Speaker 4>Sometimes when I hear of a new fact, I'm like,

0:04:16.800 --> 0:04:20.159
<v Speaker 4>am I just not well read? Anyway? Revenue will be

0:04:20.200 --> 0:04:24.120
<v Speaker 4>five billion, thank you. I love this show. Five billion

0:04:24.160 --> 0:04:26.880
<v Speaker 4>to five point four billion. And to be sure, the

0:04:26.920 --> 0:04:30.080
<v Speaker 4>company's revenue still is short of peaks, but still the

0:04:30.120 --> 0:04:32.480
<v Speaker 4>optimism is enough to push the stock up by nearly

0:04:32.520 --> 0:04:33.119
<v Speaker 4>eighteen percent.

0:04:33.120 --> 0:04:35.080
<v Speaker 3>I think it's not a record. I think it's Yes,

0:04:35.120 --> 0:04:37.240
<v Speaker 3>that is another record in like a long time, like

0:04:37.279 --> 0:04:40.560
<v Speaker 3>five and a half years or something. Yeah, who'd sunk? Right,

0:04:40.600 --> 0:04:42.760
<v Speaker 3>We've been focusing on so many other companies I feel

0:04:42.760 --> 0:04:45.279
<v Speaker 3>like earnings and then this one just whoa.

0:04:45.040 --> 0:04:46.080
<v Speaker 2>Blew it out of the park.

0:04:46.560 --> 0:04:49.440
<v Speaker 3>Uh, thank you. I'm glad you love this show too.

0:04:49.640 --> 0:04:52.360
<v Speaker 3>It's Belly. She's Bluember news Cross at reporter joining us

0:04:52.360 --> 0:04:54.320
<v Speaker 3>here in studio. Check out our Stockpovers podcast.

0:04:55.760 --> 0:04:59.760
<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

0:04:59.839 --> 0:05:02.440
<v Speaker 2>us throughout the day for the latest roundup of companies

0:05:02.520 --> 0:05:05.640
<v Speaker 2>making news on Wall Street and for the latest market

0:05:05.640 --> 0:05:10.120
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:05:10.200 --> 0:05:13.719
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:05:13.800 --> 0:05:15.240
<v Speaker 2>the Bloomberg Business app.