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 3: Let's take a look at some stocks on the move
Speaker 3: on this Thursday. I'm Carol Master, a long with Tim
Speaker 3: Stanvik with us as Bloomberg News cross ass at reporter
Speaker 3: Isabelle Lee. She's in the house, and I know you're
Speaker 3: talking about a company that we just talked.
Speaker 2: To the CEO.
Speaker 4: Yes, Cure Leaf ticker is CRLF, one of those rare
Speaker 4: ones with five letters, And I did see that interview
Speaker 4: was a great one and very interesting. So this stock
Speaker 4: is moving on the back of the US Department reclassifying
Speaker 4: state regulated marijuana as less dangerous. So they used to
Speaker 4: belong in the same tier as heroin and LSD, but
Speaker 4: now they're going to be in a less dangerous tier.
Speaker 4: So they did stop short of fully legalizing the drug.
Speaker 4: And I think everyone should know that this narrowly applies
Speaker 4: to medical use of marijuana only, but still it's definitely
Speaker 4: going to be a boost for a lot of people
Speaker 4: who are advocating for that. And interestingly enough, in the
Speaker 4: Bloomberg story, we said that this may bolster support for
Speaker 4: the young men who voted for President Trump in twenty
Speaker 4: twenty four.
Speaker 3: Oh. Interesting, I will say Boris Jordan, who we talked
Speaker 3: to of curely if the CEO and a co founder
Speaker 3: and chairman too. He said for full stabilization, stabilization I
Speaker 3: don't know, no, maybe I don't know, or her full approval,
Speaker 3: he was going to take about two to three years,
Speaker 3: and he thinks it'll happen in the next administration, whether
Speaker 3: it's Democrats or Republican.
Speaker 1: Yeah.
Speaker 5: He kind of referred to this as like the first step,
Speaker 5: and there still needs to be legislation that allows banks
Speaker 5: to do work in the space without fear of going,
Speaker 5: you know, going a foul of compliance.
Speaker 1: That's true, say it's truck.
Speaker 4: I actually it was a little bit surprised because marijuana
Speaker 4: is now legal in twenty four US dates for recreational
Speaker 4: purposes and in forty states for medical reasons. But I
Speaker 4: guess in the federal level.
Speaker 3: It's still illegal. Yeah, and that's the issue, and that's
Speaker 3: what makes it so tricky, right.
Speaker 5: He also did say that was m and a opportunity
Speaker 5: as a result of Oh, he was very candid about.
Speaker 3: That, totally totally. So really it's fun to watch. I
Speaker 3: mean listen rally big time yesterday, as you said, but
Speaker 3: kind of giving back a lot of it today, down
Speaker 3: about twenty two percent. But yeah, there's a lot of
Speaker 3: activity out of the White House moving different sector.
Speaker 1: When my parents come and visit New York, they're like.
Speaker 3: They like to buy like this.
Speaker 1: They're like, who's smoking Marilanta? And I'm like, you know,
Speaker 1: they're walking around.
Speaker 5: I'm like, the answer is everybody, Oh right, when you're
Speaker 5: walking house, it's just been like.
Speaker 1: I so thought you were going to go sowhere.
Speaker 3: My parents come to New York, they love to go shopping.
Speaker 1: Yeah no, no, but I mean they live in California.
Speaker 1: That's true plenty there.
Speaker 4: So what this California is smell like.
Speaker 5: Well, it's they're in an area that's not as dense,
Speaker 5: so they're not walking around smelling marijuana.
Speaker 1: But the point is like it's been.
Speaker 5: Legalized there like Boulder or like, yeah, it's like that's
Speaker 5: what New York is like.
Speaker 1: Now New York is like that.
Speaker 3: Yeah, all right, let's go to airlines. We've talked to
Speaker 3: digressed a lot about airlines over the last couple of weeks.
Speaker 3: A lot of them reporting earnings, you got Southwest.
Speaker 4: Southwest down by four percent tickers luv. So the companies
Speaker 4: adjusted quarterly profit and revenue missed expectations. And again it
Speaker 4: comes after United Airlines slash their full year profit forecasts,
Speaker 4: and it just really shows you how these global carriers
Speaker 4: are suffering because of higher fuel prices caused by the
Speaker 4: Middle East War. Southwest decline to provide full yer profit guidance.
Speaker 4: It's said achieving those results would require lower fuel prices.
Speaker 4: And again we have Delta declining to update its full
Speaker 4: year forecasts. United Error and Alaska Air have revised or
Speaker 4: with their own guidance. So it's really going to be
Speaker 4: a challenging time.
Speaker 3: It's tricky like this is an environment that makes those
Speaker 3: tickets for the.
Speaker 4: Summer say goodbye to your travel plans.
Speaker 1: I don't know, maybe.
Speaker 3: Getting a car, well, wait, we'll go somewhere, the air
Speaker 3: conditioning power of bills. It's really it's a really rough.
Speaker 4: Place, tough life.
Speaker 1: Let's go to Texas. Let's go to Texas.
Speaker 4: And then a good note, the stock TXN is up
Speaker 4: by almost eighteen percent. We have the chip maker giving
Speaker 4: a surprisingly strong forecast. Of course this was boosted by
Speaker 4: data centers and industrial equipment demand. There has just been
Speaker 4: relentless a Texas Instrument are the biggest maker of analog
Speaker 4: chips and embedded processors, and this is a new fact
Speaker 4: for me. They're the oldest chip producer in the industry.
Speaker 4: Really okay, I'm glad that that's a new fact for
Speaker 4: you to also.
Speaker 3: Then Intel, huh, I think so.
Speaker 2: Yeah.
Speaker 4: Sometimes when I hear of a new fact, I'm like,
Speaker 4: am I just not well read? Anyway? Revenue will be
Speaker 4: five billion, thank you. I love this show. Five billion
Speaker 4: to five point four billion. And to be sure, the
Speaker 4: company's revenue still is short of peaks, but still the
Speaker 4: optimism is enough to push the stock up by nearly
Speaker 4: eighteen percent.
Speaker 3: I think it's not a record. I think it's Yes,
Speaker 3: that is another record in like a long time, like
Speaker 3: five and a half years or something. Yeah, who'd sunk? Right,
Speaker 3: We've been focusing on so many other companies I feel
Speaker 3: like earnings and then this one just whoa.
Speaker 2: Blew it out of the park.
Speaker 3: Uh, thank you. I'm glad you love this show too.
Speaker 3: It's Belly. She's Bluember news Cross at reporter joining us
Speaker 3: here in studio. Check out our Stockpovers podcast.
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