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 1: I'm Tim Steeveeck along with Carol Masser. Let's take a
Speaker 1: look at some stocks on the move today with US
Speaker 1: Now is Bloomberg News Senior reporter and deputy team leader
Speaker 1: for US Equities Jess Menton. Jess, I hope you're looking
Speaker 1: at Intel, of.
Speaker 3: Course the best I'm just making sure in the S
Speaker 3: and P five hundred and the Nasdaq one hundred, I
Speaker 3: INTC is the ticker symbol, so up twenty three percent
Speaker 3: at this point, so one pace for its best one
Speaker 3: day percentage gain since October nineteen eighty seven, so almost
Speaker 3: four decades ago. Here And of course, if for people
Speaker 3: who remember until actually got kicked out of the Dow
Speaker 3: last November, and usually when it happens, it can be
Speaker 3: a little bit of a contrier and indicator for some
Speaker 3: traders if you think of when Exon or ge got
Speaker 3: kicked out of the Dow. But what's interesting about this
Speaker 3: is in video actually replaced it in the doubt. But
Speaker 3: what happened here and why it's up so high today.
Speaker 3: It's actually in Vidia has a five billion dollar investment
Speaker 3: with Intel, and so when you think about the AI
Speaker 3: story and the theme here in Vida and Intel said
Speaker 3: they would collaborate in developing chips for personal computers as
Speaker 3: well as data centers. So Intel, for context, specializes in
Speaker 3: ships known as those central processing units that serve as
Speaker 3: the brain of the computer. So in VideA actually makes
Speaker 3: those graphics processing units. So that's more of kind of
Speaker 3: the powerful tasks like crunching a lot of data and that.
Speaker 3: So this is why it's important. So basically in Vidia
Speaker 3: throwing a lifeline to a one time rival. Here in
Speaker 3: the New York Times actually reporting earlier today that the
Speaker 3: Trump administration actually approached in Vida nine months ago and
Speaker 3: asked it to invest in Intel, according to two people
Speaker 3: familiar with the knowledge. So interesting context here when you
Speaker 3: look at a stock like this, but have to point
Speaker 3: out in Vidia stock vda's the ticker up about four
Speaker 3: percent right now.
Speaker 4: Yeah, interesting, And I was just looking at Intel. It
Speaker 4: was a seventy four almost seventy five dollars stock back
Speaker 4: in two thousand. It did go up as much to
Speaker 4: the level of like about sixty eight and change back
Speaker 4: in April of twenty twenty one, so it's still like
Speaker 4: half of that.
Speaker 3: It's true, and you have the Dow tradding around records
Speaker 3: right now. But then also Intel since November eighth of
Speaker 3: last year, whatever it got kicked out officially and in
Speaker 3: video got added. It actually is outperforming in video as
Speaker 3: well as the Dow in that time span over twenty percent.
Speaker 4: So some context there, all right, Darden Restaurants take our dri.
Speaker 3: Now looking at this dock down almost seven percent so
Speaker 3: on pea Sports worst day since May of twenty twenty two.
Speaker 3: So this is a company that owns the parent company
Speaker 3: so basically Olive Garden when it comes to those breadsticks,
Speaker 3: as well as Longhorn here and formally used to own
Speaker 3: Red Lobster, which I used to work at, but unfortunately
Speaker 3: Red Lobster has their own stuff that was back in college, so.
Speaker 1: Long harm because you're a Texan.
Speaker 3: Yeah, surprise, surprise actually, but they don't own anymore. Red
Speaker 3: Lobster has its own sort of bankruptcy issues that it
Speaker 3: was going through in recent years. But nonetheless maybe a
Speaker 3: turnaround maybe, right, that's true, but they're seeing some bright
Speaker 3: spots there with some of those endless shrimp specials that
Speaker 3: they tend to have in the fall, just for contexts
Speaker 3: in case people wanted to know. But besides all of that,
Speaker 3: so darted. Actually, so I mentioned it's stuck down around
Speaker 3: seven percent on paceports worst day since made of twenty
Speaker 3: twenty two, but its first quarter comparable sales unfortunately at
Speaker 3: this core restaurant brand, So the two mentioned all of
Speaker 3: Garden as well as Longhorn, those disappointed. So those profit
Speaker 3: expectations trailing Wall Street expectations for the quarter. So really unfortunately,
Speaker 3: food inflation still feeling a lot of that at those companies.
Speaker 3: If you look at the A and R function in
Speaker 3: the terminal, twenty buys twelve holds and two cells for Darden.
Speaker 4: All right, good to know, good to know, all right.
Speaker 3: Cracker Barrel, Yes, so this of course, I think you're
Speaker 3: out a couple of weeks ago, Carol, when Tim and
Speaker 3: I were actually chatting about this, but this was back.
Speaker 4: And are you going to say that you went to
Speaker 4: Cracker Barrel bite.
Speaker 2: To eat out?
Speaker 3: Well, in late August they actually wiped out nearly one
Speaker 3: hundred million dollars in value. After that rebrand that was
Speaker 3: very controversial was announced looking at its stock now, the
Speaker 3: ticker CBRL down seven percent on paceports worst days since
Speaker 3: September second from earlier this year. The stock actually had
Speaker 3: been down around six percent this year through Wednesday's close.
Speaker 3: Obviously after that gyrations there, but unfortunately it has a
Speaker 3: weak forecast that's been pressuring that stock. So Cracker Barrel
Speaker 3: unfortunately cracking under the pressure when it came to that controversy,
Speaker 3: what did they do?
Speaker 4: Did they get yes?
Speaker 1: Guy it was the uncle. Yes, isn't he called the
Speaker 1: old timer uncle Herschel?
Speaker 3: Oh? Yes, they brought it to remove him and he
Speaker 3: had the olveralls. I thought they were just going to
Speaker 3: have it without it, and it really caused an uproar,
Speaker 3: unfortunately with all that's going on in the work, right,
Speaker 3: and so critics were accusing the company of sort of
Speaker 3: erasing traditional elements that were tied to the brand. But unfortunately,
Speaker 3: all right, you know, and so they really kind of
Speaker 3: backed down for the pressure there after what it did
Speaker 3: to its stock. But so it's revenue for fiscal twenty
Speaker 3: twenty six, which will run through extra lights, projected to
Speaker 3: be in the range of three point three five a
Speaker 3: billion to three point four to five billion, and unfortunately
Speaker 3: analysts were expecting sales of three point five two billion
Speaker 3: in that period. So unfortunately at Stock feeling some pressure
Speaker 3: once again.
Speaker 4: If I said it last night, about twenty five percent
Speaker 4: of the float is short, so you can see the
Speaker 4: negative sentiment on this one in a big way.
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