1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,919 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,120 --> 00:00:19,640 Speaker 1: I'm Tim Steeveeck along with Carol Masser. Let's take a 5 00:00:19,680 --> 00:00:22,200 Speaker 1: look at some stocks on the move today with US 6 00:00:22,200 --> 00:00:25,040 Speaker 1: Now is Bloomberg News Senior reporter and deputy team leader 7 00:00:25,320 --> 00:00:29,720 Speaker 1: for US Equities Jess Menton. Jess, I hope you're looking 8 00:00:29,760 --> 00:00:30,560 Speaker 1: at Intel, of. 9 00:00:30,440 --> 00:00:32,839 Speaker 3: Course the best I'm just making sure in the S 10 00:00:32,880 --> 00:00:35,199 Speaker 3: and P five hundred and the Nasdaq one hundred, I 11 00:00:35,280 --> 00:00:38,400 Speaker 3: INTC is the ticker symbol, so up twenty three percent 12 00:00:38,440 --> 00:00:40,680 Speaker 3: at this point, so one pace for its best one 13 00:00:40,760 --> 00:00:44,960 Speaker 3: day percentage gain since October nineteen eighty seven, so almost 14 00:00:44,960 --> 00:00:48,000 Speaker 3: four decades ago. Here And of course, if for people 15 00:00:48,000 --> 00:00:49,920 Speaker 3: who remember until actually got kicked out of the Dow 16 00:00:50,400 --> 00:00:52,960 Speaker 3: last November, and usually when it happens, it can be 17 00:00:52,960 --> 00:00:54,520 Speaker 3: a little bit of a contrier and indicator for some 18 00:00:54,560 --> 00:00:56,959 Speaker 3: traders if you think of when Exon or ge got 19 00:00:57,000 --> 00:00:59,120 Speaker 3: kicked out of the Dow. But what's interesting about this 20 00:00:59,200 --> 00:01:01,400 Speaker 3: is in video actually replaced it in the doubt. But 21 00:01:01,440 --> 00:01:04,160 Speaker 3: what happened here and why it's up so high today. 22 00:01:04,360 --> 00:01:08,000 Speaker 3: It's actually in Vidia has a five billion dollar investment 23 00:01:08,080 --> 00:01:10,720 Speaker 3: with Intel, and so when you think about the AI 24 00:01:10,840 --> 00:01:13,320 Speaker 3: story and the theme here in Vida and Intel said 25 00:01:13,319 --> 00:01:16,399 Speaker 3: they would collaborate in developing chips for personal computers as 26 00:01:16,440 --> 00:01:19,720 Speaker 3: well as data centers. So Intel, for context, specializes in 27 00:01:19,760 --> 00:01:22,720 Speaker 3: ships known as those central processing units that serve as 28 00:01:22,720 --> 00:01:24,720 Speaker 3: the brain of the computer. So in VideA actually makes 29 00:01:24,959 --> 00:01:27,960 Speaker 3: those graphics processing units. So that's more of kind of 30 00:01:27,959 --> 00:01:31,039 Speaker 3: the powerful tasks like crunching a lot of data and that. 31 00:01:31,160 --> 00:01:33,440 Speaker 3: So this is why it's important. So basically in Vidia 32 00:01:33,480 --> 00:01:36,360 Speaker 3: throwing a lifeline to a one time rival. Here in 33 00:01:36,360 --> 00:01:38,720 Speaker 3: the New York Times actually reporting earlier today that the 34 00:01:38,720 --> 00:01:42,280 Speaker 3: Trump administration actually approached in Vida nine months ago and 35 00:01:42,360 --> 00:01:45,120 Speaker 3: asked it to invest in Intel, according to two people 36 00:01:45,120 --> 00:01:47,360 Speaker 3: familiar with the knowledge. So interesting context here when you 37 00:01:47,360 --> 00:01:48,720 Speaker 3: look at a stock like this, but have to point 38 00:01:48,760 --> 00:01:51,920 Speaker 3: out in Vidia stock vda's the ticker up about four 39 00:01:51,920 --> 00:01:52,720 Speaker 3: percent right now. 40 00:01:52,840 --> 00:01:55,280 Speaker 4: Yeah, interesting, And I was just looking at Intel. It 41 00:01:55,480 --> 00:01:58,520 Speaker 4: was a seventy four almost seventy five dollars stock back 42 00:01:58,560 --> 00:02:01,960 Speaker 4: in two thousand. It did go up as much to 43 00:02:02,040 --> 00:02:05,120 Speaker 4: the level of like about sixty eight and change back 44 00:02:05,240 --> 00:02:08,640 Speaker 4: in April of twenty twenty one, so it's still like 45 00:02:08,880 --> 00:02:09,400 Speaker 4: half of that. 46 00:02:09,480 --> 00:02:11,400 Speaker 3: It's true, and you have the Dow tradding around records 47 00:02:11,440 --> 00:02:14,000 Speaker 3: right now. But then also Intel since November eighth of 48 00:02:14,080 --> 00:02:16,200 Speaker 3: last year, whatever it got kicked out officially and in 49 00:02:16,320 --> 00:02:18,960 Speaker 3: video got added. It actually is outperforming in video as 50 00:02:18,960 --> 00:02:21,440 Speaker 3: well as the Dow in that time span over twenty percent. 51 00:02:21,840 --> 00:02:26,359 Speaker 4: So some context there, all right, Darden Restaurants take our dri. 52 00:02:26,680 --> 00:02:29,200 Speaker 3: Now looking at this dock down almost seven percent so 53 00:02:29,400 --> 00:02:32,440 Speaker 3: on pea Sports worst day since May of twenty twenty two. 54 00:02:32,520 --> 00:02:35,240 Speaker 3: So this is a company that owns the parent company 55 00:02:35,280 --> 00:02:37,720 Speaker 3: so basically Olive Garden when it comes to those breadsticks, 56 00:02:37,760 --> 00:02:40,959 Speaker 3: as well as Longhorn here and formally used to own 57 00:02:41,000 --> 00:02:43,200 Speaker 3: Red Lobster, which I used to work at, but unfortunately 58 00:02:43,200 --> 00:02:45,400 Speaker 3: Red Lobster has their own stuff that was back in college, so. 59 00:02:47,360 --> 00:02:48,760 Speaker 1: Long harm because you're a Texan. 60 00:02:49,000 --> 00:02:52,839 Speaker 3: Yeah, surprise, surprise actually, but they don't own anymore. Red 61 00:02:52,840 --> 00:02:54,800 Speaker 3: Lobster has its own sort of bankruptcy issues that it 62 00:02:54,840 --> 00:02:57,200 Speaker 3: was going through in recent years. But nonetheless maybe a 63 00:02:57,240 --> 00:02:59,919 Speaker 3: turnaround maybe, right, that's true, but they're seeing some bright 64 00:03:00,040 --> 00:03:02,800 Speaker 3: spots there with some of those endless shrimp specials that 65 00:03:02,800 --> 00:03:04,960 Speaker 3: they tend to have in the fall, just for contexts 66 00:03:04,960 --> 00:03:07,799 Speaker 3: in case people wanted to know. But besides all of that, 67 00:03:07,919 --> 00:03:10,640 Speaker 3: so darted. Actually, so I mentioned it's stuck down around 68 00:03:10,680 --> 00:03:12,720 Speaker 3: seven percent on paceports worst day since made of twenty 69 00:03:12,760 --> 00:03:15,880 Speaker 3: twenty two, but its first quarter comparable sales unfortunately at 70 00:03:15,880 --> 00:03:18,160 Speaker 3: this core restaurant brand, So the two mentioned all of 71 00:03:18,160 --> 00:03:21,000 Speaker 3: Garden as well as Longhorn, those disappointed. So those profit 72 00:03:21,040 --> 00:03:25,760 Speaker 3: expectations trailing Wall Street expectations for the quarter. So really unfortunately, 73 00:03:25,760 --> 00:03:28,200 Speaker 3: food inflation still feeling a lot of that at those companies. 74 00:03:28,200 --> 00:03:29,560 Speaker 3: If you look at the A and R function in 75 00:03:29,600 --> 00:03:32,639 Speaker 3: the terminal, twenty buys twelve holds and two cells for Darden. 76 00:03:32,680 --> 00:03:35,000 Speaker 4: All right, good to know, good to know, all right. 77 00:03:35,080 --> 00:03:37,680 Speaker 3: Cracker Barrel, Yes, so this of course, I think you're 78 00:03:37,680 --> 00:03:39,240 Speaker 3: out a couple of weeks ago, Carol, when Tim and 79 00:03:39,320 --> 00:03:41,840 Speaker 3: I were actually chatting about this, but this was back. 80 00:03:41,680 --> 00:03:43,080 Speaker 4: And are you going to say that you went to 81 00:03:43,080 --> 00:03:45,080 Speaker 4: Cracker Barrel bite. 82 00:03:44,800 --> 00:03:46,000 Speaker 2: To eat out? 83 00:03:46,240 --> 00:03:48,720 Speaker 3: Well, in late August they actually wiped out nearly one 84 00:03:48,760 --> 00:03:51,880 Speaker 3: hundred million dollars in value. After that rebrand that was 85 00:03:52,000 --> 00:03:54,800 Speaker 3: very controversial was announced looking at its stock now, the 86 00:03:54,840 --> 00:03:58,920 Speaker 3: ticker CBRL down seven percent on paceports worst days since 87 00:03:58,920 --> 00:04:02,080 Speaker 3: September second from earlier this year. The stock actually had 88 00:04:02,120 --> 00:04:05,040 Speaker 3: been down around six percent this year through Wednesday's close. 89 00:04:05,080 --> 00:04:08,000 Speaker 3: Obviously after that gyrations there, but unfortunately it has a 90 00:04:08,000 --> 00:04:11,760 Speaker 3: weak forecast that's been pressuring that stock. So Cracker Barrel 91 00:04:11,880 --> 00:04:14,720 Speaker 3: unfortunately cracking under the pressure when it came to that controversy, 92 00:04:14,920 --> 00:04:15,640 Speaker 3: what did they do? 93 00:04:15,760 --> 00:04:16,360 Speaker 4: Did they get yes? 94 00:04:16,640 --> 00:04:19,839 Speaker 1: Guy it was the uncle. Yes, isn't he called the 95 00:04:19,839 --> 00:04:21,400 Speaker 1: old timer uncle Herschel? 96 00:04:21,720 --> 00:04:27,440 Speaker 3: Oh? Yes, they brought it to remove him and he 97 00:04:27,480 --> 00:04:29,160 Speaker 3: had the olveralls. I thought they were just going to 98 00:04:29,240 --> 00:04:32,120 Speaker 3: have it without it, and it really caused an uproar, 99 00:04:32,279 --> 00:04:35,279 Speaker 3: unfortunately with all that's going on in the work, right, 100 00:04:35,360 --> 00:04:37,440 Speaker 3: and so critics were accusing the company of sort of 101 00:04:37,560 --> 00:04:41,080 Speaker 3: erasing traditional elements that were tied to the brand. But unfortunately, 102 00:04:42,080 --> 00:04:44,360 Speaker 3: all right, you know, and so they really kind of 103 00:04:44,400 --> 00:04:46,640 Speaker 3: backed down for the pressure there after what it did 104 00:04:46,680 --> 00:04:49,159 Speaker 3: to its stock. But so it's revenue for fiscal twenty 105 00:04:49,200 --> 00:04:51,600 Speaker 3: twenty six, which will run through extra lights, projected to 106 00:04:51,600 --> 00:04:53,599 Speaker 3: be in the range of three point three five a 107 00:04:53,600 --> 00:04:56,440 Speaker 3: billion to three point four to five billion, and unfortunately 108 00:04:56,680 --> 00:04:59,680 Speaker 3: analysts were expecting sales of three point five two billion 109 00:04:59,760 --> 00:05:02,720 Speaker 3: in that period. So unfortunately at Stock feeling some pressure 110 00:05:02,800 --> 00:05:03,200 Speaker 3: once again. 111 00:05:03,240 --> 00:05:05,880 Speaker 4: If I said it last night, about twenty five percent 112 00:05:05,880 --> 00:05:07,960 Speaker 4: of the float is short, so you can see the 113 00:05:07,960 --> 00:05:10,800 Speaker 4: negative sentiment on this one in a big way. 114 00:05:11,680 --> 00:05:15,720 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 115 00:05:15,800 --> 00:05:18,360 Speaker 2: us throughout the day for the latest roundup of companies 116 00:05:18,440 --> 00:05:21,520 Speaker 2: making news on Wall Street and for the latest market 117 00:05:21,560 --> 00:05:26,000 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 118 00:05:26,120 --> 00:05:29,640 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 119 00:05:29,680 --> 00:05:31,159 Speaker 2: the Bloomberg Business app.