WEBVTT - Home Depot Miss; Blackstone-Google Deal; Agilysys Jump

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis, starting us

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<v Speaker 1>off with the earning story of the morning, and it

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<v Speaker 1>looks as though investors are still trying to figure out

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<v Speaker 1>how they feel about Home Depots results.

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<v Speaker 3>Good morning Dan, Good morning Nathan.

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<v Speaker 2>That's right.

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<v Speaker 3>Shares of Home Deeper Depot, which trade underticker HD, are

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<v Speaker 3>up about six tenths of a percent in the pre market.

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<v Speaker 3>That's as first quarter comparable sales came in at zero

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<v Speaker 3>point six percent, shy of the estimates. Though despite the

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<v Speaker 3>weaker than expected figures, Home Depot is maintaining its full

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<v Speaker 3>year guidance, so it's staying relatively positive, or at least

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<v Speaker 3>where it was before on the full year. The business

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<v Speaker 3>is getting hit by elevated interest rates and high housing prices.

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<v Speaker 3>That's cause consumers to take on smaller projects like painting

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<v Speaker 3>and gardening over more expensive remodels. CEO Richard big Fail

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<v Speaker 3>told Bloomberg in an interview that shoppers continue to defer

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<v Speaker 3>large projects due to uncertainty, so the cost of living,

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<v Speaker 3>higher rates, higher energy too, all playing into this. Those

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<v Speaker 3>shares still, as we mentioned, staying elevated. This is the

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<v Speaker 3>first big box retailer of the week to report Low's target,

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<v Speaker 3>and Walmart are out over the next two days.

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<v Speaker 1>And of course we're going to hear from Nvidia after

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<v Speaker 1>the close tomorrow, putting the AI trade in focus once again.

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<v Speaker 1>We've got some stocks moving on the AI theme this morning,

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<v Speaker 1>Google and Blackstone, interestingly enough.

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<v Speaker 3>Yeah, so that's right, those shares are up a little

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<v Speaker 3>bit so Blackstone ticker BX up about one percent in

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<v Speaker 3>pre market, Alphabet ticker Googl up about half a percent.

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<v Speaker 3>And those two companies are teaming up to create an

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<v Speaker 3>AI cloud business to compete with the likes of core Weave.

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<v Speaker 3>It will rely on initial investments of about five billion

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<v Speaker 3>dollars in equity capital for black Stone, who will become

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<v Speaker 3>the major the majority owner. The goal is to have

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<v Speaker 3>a five hundred megawak computing capacity by the end of

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<v Speaker 3>the year, and the data centers will run on Google's

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<v Speaker 3>AI chips called tensor processing units. So those two companies

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<v Speaker 3>coming up they are challenging the likes of Core Weave.

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<v Speaker 3>That stock ticker CRWV is under pressure this morning, down

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<v Speaker 3>to three percent. So it looks like some more people

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<v Speaker 3>going after all the money in the AI space this morning.

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<v Speaker 1>Well, we can't say that Agilsis is under pressure. That

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<v Speaker 1>is the biggest gainer in the pre market this morning.

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<v Speaker 1>Tell us why.

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<v Speaker 3>Ticker a gys is up seventeen percent. It's a hospitality

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<v Speaker 3>software company and it beat fourth quarter results. The company

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<v Speaker 3>is also guiding that full year revenue will be thirty

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<v Speaker 3>six million dollars or more and that is above estimates,

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<v Speaker 3>sending those shares up in the pre market. Subscription revenue

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<v Speaker 3>grew twenty four percent, the eighteenth straight quarter of above

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<v Speaker 3>twenty percent growth, and the recurring booking for the past

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<v Speaker 3>fiscal year we're at record high. This is pushing back

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<v Speaker 3>against AI concerns plaguing the software industry broadly. Shares of

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<v Speaker 3>Agilsis were down forty percent going into these earnings, and

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<v Speaker 3>that's on the AI threat that has been pushing those

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<v Speaker 3>software shares lower. Software has been turning around, with the

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<v Speaker 3>sector ending yesterday at the highest level in over three months,

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<v Speaker 3>and these earnings feeling a little bit more bolishness in

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<v Speaker 3>the space.

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<v Speaker 1>And we do have a flip side. The biggest decliner

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<v Speaker 1>pre market.

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<v Speaker 3>Xp so XP is down about six percent in the

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<v Speaker 3>pre market. It's a Brazilian asset management company and its

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<v Speaker 3>first quarter results missed estimates. Revenues from fixed income products

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<v Speaker 3>sold to retail were especially weak, and shares are set

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<v Speaker 3>to open near the lowest level of the year. Despite

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<v Speaker 3>first quarter volatility, the company remains confident in achieving double

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<v Speaker 3>digit growth for the full year.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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

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<v Speaker 2>making news on Wall Street and for the latest market

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