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.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, starting us
Speaker 1: off with the earning story of the morning, and it
Speaker 1: looks as though investors are still trying to figure out
Speaker 1: how they feel about Home Depots results.
Speaker 3: Good morning Dan, Good morning Nathan.
Speaker 2: That's right.
Speaker 3: Shares of Home Deeper Depot, which trade underticker HD, are
Speaker 3: up about six tenths of a percent in the pre market.
Speaker 3: That's as first quarter comparable sales came in at zero
Speaker 3: point six percent, shy of the estimates. Though despite the
Speaker 3: weaker than expected figures, Home Depot is maintaining its full
Speaker 3: year guidance, so it's staying relatively positive, or at least
Speaker 3: where it was before on the full year. The business
Speaker 3: is getting hit by elevated interest rates and high housing prices.
Speaker 3: That's cause consumers to take on smaller projects like painting
Speaker 3: and gardening over more expensive remodels. CEO Richard big Fail
Speaker 3: told Bloomberg in an interview that shoppers continue to defer
Speaker 3: large projects due to uncertainty, so the cost of living,
Speaker 3: higher rates, higher energy too, all playing into this. Those
Speaker 3: shares still, as we mentioned, staying elevated. This is the
Speaker 3: first big box retailer of the week to report Low's target,
Speaker 3: and Walmart are out over the next two days.
Speaker 1: And of course we're going to hear from Nvidia after
Speaker 1: the close tomorrow, putting the AI trade in focus once again.
Speaker 1: We've got some stocks moving on the AI theme this morning,
Speaker 1: Google and Blackstone, interestingly enough.
Speaker 3: Yeah, so that's right, those shares are up a little
Speaker 3: bit so Blackstone ticker BX up about one percent in
Speaker 3: pre market, Alphabet ticker Googl up about half a percent.
Speaker 3: And those two companies are teaming up to create an
Speaker 3: AI cloud business to compete with the likes of core Weave.
Speaker 3: It will rely on initial investments of about five billion
Speaker 3: dollars in equity capital for black Stone, who will become
Speaker 3: the major the majority owner. The goal is to have
Speaker 3: a five hundred megawak computing capacity by the end of
Speaker 3: the year, and the data centers will run on Google's
Speaker 3: AI chips called tensor processing units. So those two companies
Speaker 3: coming up they are challenging the likes of Core Weave.
Speaker 3: That stock ticker CRWV is under pressure this morning, down
Speaker 3: to three percent. So it looks like some more people
Speaker 3: going after all the money in the AI space this morning.
Speaker 1: Well, we can't say that Agilsis is under pressure. That
Speaker 1: is the biggest gainer in the pre market this morning.
Speaker 1: Tell us why.
Speaker 3: Ticker a gys is up seventeen percent. It's a hospitality
Speaker 3: software company and it beat fourth quarter results. The company
Speaker 3: is also guiding that full year revenue will be thirty
Speaker 3: six million dollars or more and that is above estimates,
Speaker 3: sending those shares up in the pre market. Subscription revenue
Speaker 3: grew twenty four percent, the eighteenth straight quarter of above
Speaker 3: twenty percent growth, and the recurring booking for the past
Speaker 3: fiscal year we're at record high. This is pushing back
Speaker 3: against AI concerns plaguing the software industry broadly. Shares of
Speaker 3: Agilsis were down forty percent going into these earnings, and
Speaker 3: that's on the AI threat that has been pushing those
Speaker 3: software shares lower. Software has been turning around, with the
Speaker 3: sector ending yesterday at the highest level in over three months,
Speaker 3: and these earnings feeling a little bit more bolishness in
Speaker 3: the space.
Speaker 1: And we do have a flip side. The biggest decliner
Speaker 1: pre market.
Speaker 3: Xp so XP is down about six percent in the
Speaker 3: pre market. It's a Brazilian asset management company and its
Speaker 3: first quarter results missed estimates. Revenues from fixed income products
Speaker 3: sold to retail were especially weak, and shares are set
Speaker 3: to open near the lowest level of the year. Despite
Speaker 3: first quarter volatility, the company remains confident in achieving double
Speaker 3: digit growth for the full year.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
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