WEBVTT - Intel Skyrockets, Darden Restaurants Slides, Cracker Barrel Falls 0:00:02.520 --> 0:00:07.000 Bloomberg Audio Studios, podcasts, radio News. 0:00:08.560 --> 0:00:12.440 The Stock Movers Report, your roundup of companies making moves 0:00:12.480 --> 0:00:16.919 in the stock market, harnessing the power of Bloomberg Data. 0:00:17.120 --> 0:00:19.640 I'm Tim Steeveeck along with Carol Masser. Let's take a 0:00:19.680 --> 0:00:22.200 look at some stocks on the move today with US 0:00:22.200 --> 0:00:25.040 Now is Bloomberg News Senior reporter and deputy team leader 0:00:25.320 --> 0:00:29.720 for US Equities Jess Menton. Jess, I hope you're looking 0:00:29.760 --> 0:00:30.560 at Intel, of. 0:00:30.440 --> 0:00:32.839 Course the best I'm just making sure in the S 0:00:32.880 --> 0:00:35.199 and P five hundred and the Nasdaq one hundred, I 0:00:35.280 --> 0:00:38.400 INTC is the ticker symbol, so up twenty three percent 0:00:38.440 --> 0:00:40.680 at this point, so one pace for its best one 0:00:40.760 --> 0:00:44.960 day percentage gain since October nineteen eighty seven, so almost 0:00:44.960 --> 0:00:48.000 four decades ago. Here And of course, if for people 0:00:48.000 --> 0:00:49.920 who remember until actually got kicked out of the Dow 0:00:50.400 --> 0:00:52.960 last November, and usually when it happens, it can be 0:00:52.960 --> 0:00:54.520 a little bit of a contrier and indicator for some 0:00:54.560 --> 0:00:56.959 traders if you think of when Exon or ge got 0:00:57.000 --> 0:00:59.120 kicked out of the Dow. But what's interesting about this 0:00:59.200 --> 0:01:01.400 is in video actually replaced it in the doubt. But 0:01:01.440 --> 0:01:04.160 what happened here and why it's up so high today. 0:01:04.360 --> 0:01:08.000 It's actually in Vidia has a five billion dollar investment 0:01:08.080 --> 0:01:10.720 with Intel, and so when you think about the AI 0:01:10.840 --> 0:01:13.320 story and the theme here in Vida and Intel said 0:01:13.319 --> 0:01:16.399 they would collaborate in developing chips for personal computers as 0:01:16.440 --> 0:01:19.720 well as data centers. So Intel, for context, specializes in 0:01:19.760 --> 0:01:22.720 ships known as those central processing units that serve as 0:01:22.720 --> 0:01:24.720 the brain of the computer. So in VideA actually makes 0:01:24.959 --> 0:01:27.960 those graphics processing units. So that's more of kind of 0:01:27.959 --> 0:01:31.039 the powerful tasks like crunching a lot of data and that. 0:01:31.160 --> 0:01:33.440 So this is why it's important. So basically in Vidia 0:01:33.480 --> 0:01:36.360 throwing a lifeline to a one time rival. Here in 0:01:36.360 --> 0:01:38.720 the New York Times actually reporting earlier today that the 0:01:38.720 --> 0:01:42.280 Trump administration actually approached in Vida nine months ago and 0:01:42.360 --> 0:01:45.120 asked it to invest in Intel, according to two people 0:01:45.120 --> 0:01:47.360 familiar with the knowledge. So interesting context here when you 0:01:47.360 --> 0:01:48.720 look at a stock like this, but have to point 0:01:48.760 --> 0:01:51.920 out in Vidia stock vda's the ticker up about four 0:01:51.920 --> 0:01:52.720 percent right now. 0:01:52.840 --> 0:01:55.280 Yeah, interesting, And I was just looking at Intel. It 0:01:55.480 --> 0:01:58.520 was a seventy four almost seventy five dollars stock back 0:01:58.560 --> 0:02:01.960 in two thousand. It did go up as much to 0:02:02.040 --> 0:02:05.120 the level of like about sixty eight and change back 0:02:05.240 --> 0:02:08.640 in April of twenty twenty one, so it's still like 0:02:08.880 --> 0:02:09.400 half of that. 0:02:09.480 --> 0:02:11.400 It's true, and you have the Dow tradding around records 0:02:11.440 --> 0:02:14.000 right now. But then also Intel since November eighth of 0:02:14.080 --> 0:02:16.200 last year, whatever it got kicked out officially and in 0:02:16.320 --> 0:02:18.960 video got added. It actually is outperforming in video as 0:02:18.960 --> 0:02:21.440 well as the Dow in that time span over twenty percent. 0:02:21.840 --> 0:02:26.359 So some context there, all right, Darden Restaurants take our dri. 0:02:26.680 --> 0:02:29.200 Now looking at this dock down almost seven percent so 0:02:29.400 --> 0:02:32.440 on pea Sports worst day since May of twenty twenty two. 0:02:32.520 --> 0:02:35.240 So this is a company that owns the parent company 0:02:35.280 --> 0:02:37.720 so basically Olive Garden when it comes to those breadsticks, 0:02:37.760 --> 0:02:40.959 as well as Longhorn here and formally used to own 0:02:41.000 --> 0:02:43.200 Red Lobster, which I used to work at, but unfortunately 0:02:43.200 --> 0:02:45.400 Red Lobster has their own stuff that was back in college, so. 0:02:47.360 --> 0:02:48.760 Long harm because you're a Texan. 0:02:49.000 --> 0:02:52.839 Yeah, surprise, surprise actually, but they don't own anymore. Red 0:02:52.840 --> 0:02:54.800 Lobster has its own sort of bankruptcy issues that it 0:02:54.840 --> 0:02:57.200 was going through in recent years. But nonetheless maybe a 0:02:57.240 --> 0:02:59.919 turnaround maybe, right, that's true, but they're seeing some bright 0:03:00.040 --> 0:03:02.800 spots there with some of those endless shrimp specials that 0:03:02.800 --> 0:03:04.960 they tend to have in the fall, just for contexts 0:03:04.960 --> 0:03:07.799 in case people wanted to know. But besides all of that, 0:03:07.919 --> 0:03:10.640 so darted. Actually, so I mentioned it's stuck down around 0:03:10.680 --> 0:03:12.720 seven percent on paceports worst day since made of twenty 0:03:12.760 --> 0:03:15.880 twenty two, but its first quarter comparable sales unfortunately at 0:03:15.880 --> 0:03:18.160 this core restaurant brand, So the two mentioned all of 0:03:18.160 --> 0:03:21.000 Garden as well as Longhorn, those disappointed. So those profit 0:03:21.040 --> 0:03:25.760 expectations trailing Wall Street expectations for the quarter. So really unfortunately, 0:03:25.760 --> 0:03:28.200 food inflation still feeling a lot of that at those companies. 0:03:28.200 --> 0:03:29.560 If you look at the A and R function in 0:03:29.600 --> 0:03:32.639 the terminal, twenty buys twelve holds and two cells for Darden. 0:03:32.680 --> 0:03:35.000 All right, good to know, good to know, all right. 0:03:35.080 --> 0:03:37.680 Cracker Barrel, Yes, so this of course, I think you're 0:03:37.680 --> 0:03:39.240 out a couple of weeks ago, Carol, when Tim and 0:03:39.320 --> 0:03:41.840 I were actually chatting about this, but this was back. 0:03:41.680 --> 0:03:43.080 And are you going to say that you went to 0:03:43.080 --> 0:03:45.080 Cracker Barrel bite. 0:03:44.800 --> 0:03:46.000 To eat out? 0:03:46.240 --> 0:03:48.720 Well, in late August they actually wiped out nearly one 0:03:48.760 --> 0:03:51.880 hundred million dollars in value. After that rebrand that was 0:03:52.000 --> 0:03:54.800 very controversial was announced looking at its stock now, the 0:03:54.840 --> 0:03:58.920 ticker CBRL down seven percent on paceports worst days since 0:03:58.920 --> 0:04:02.080 September second from earlier this year. The stock actually had 0:04:02.120 --> 0:04:05.040 been down around six percent this year through Wednesday's close. 0:04:05.080 --> 0:04:08.000 Obviously after that gyrations there, but unfortunately it has a 0:04:08.000 --> 0:04:11.760 weak forecast that's been pressuring that stock. So Cracker Barrel 0:04:11.880 --> 0:04:14.720 unfortunately cracking under the pressure when it came to that controversy, 0:04:14.920 --> 0:04:15.640 what did they do? 0:04:15.760 --> 0:04:16.360 Did they get yes? 0:04:16.640 --> 0:04:19.839 Guy it was the uncle. Yes, isn't he called the 0:04:19.839 --> 0:04:21.400 old timer uncle Herschel? 0:04:21.720 --> 0:04:27.440 Oh? Yes, they brought it to remove him and he 0:04:27.480 --> 0:04:29.160 had the olveralls. I thought they were just going to 0:04:29.240 --> 0:04:32.120 have it without it, and it really caused an uproar, 0:04:32.279 --> 0:04:35.279 unfortunately with all that's going on in the work, right, 0:04:35.360 --> 0:04:37.440 and so critics were accusing the company of sort of 0:04:37.560 --> 0:04:41.080 erasing traditional elements that were tied to the brand. But unfortunately, 0:04:42.080 --> 0:04:44.360 all right, you know, and so they really kind of 0:04:44.400 --> 0:04:46.640 backed down for the pressure there after what it did 0:04:46.680 --> 0:04:49.159 to its stock. But so it's revenue for fiscal twenty 0:04:49.200 --> 0:04:51.600 twenty six, which will run through extra lights, projected to 0:04:51.600 --> 0:04:53.599 be in the range of three point three five a 0:04:53.600 --> 0:04:56.440 billion to three point four to five billion, and unfortunately 0:04:56.680 --> 0:04:59.680 analysts were expecting sales of three point five two billion 0:04:59.760 --> 0:05:02.720 in that period. So unfortunately at Stock feeling some pressure 0:05:02.800 --> 0:05:03.200 once again. 0:05:03.240 --> 0:05:05.880 If I said it last night, about twenty five percent 0:05:05.880 --> 0:05:07.960 of the float is short, so you can see the 0:05:07.960 --> 0:05:10.800 negative sentiment on this one in a big way. 0:05:11.680 --> 0:05:15.720 The Stock Movers report from Bloomberg Radio. Check back with 0:05:15.800 --> 0:05:18.360 us throughout the day for the latest roundup of companies 0:05:18.440 --> 0:05:21.520 making news on Wall Street and for the latest market 0:05:21.560 --> 0:05:26.000 moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 0:05:26.120 --> 0:05:29.640 Bloomberg dot com, and on Applecarplay and Android Auto with 0:05:29.680 --> 0:05:31.159 the Bloomberg Business app.