1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,480 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,760 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,000 --> 00:00:19,279 Speaker 1: I'm Jim Stadevak along with Carol Master. Let's take a 5 00:00:19,280 --> 00:00:21,520 Speaker 1: look at some stocks on the move today with us 6 00:00:21,560 --> 00:00:26,200 Speaker 1: as Bloomberg News cross Asset reporter Deniza Sakova. Stocks maybe higher, 7 00:00:26,239 --> 00:00:30,040 Speaker 1: but one prominent tech name, chip name lower today. 8 00:00:30,440 --> 00:00:33,560 Speaker 3: Yes, old days old Ice on Intel today the stock 9 00:00:33,640 --> 00:00:34,920 Speaker 3: is down nine percent. 10 00:00:35,040 --> 00:00:36,560 Speaker 4: Now, obviously this comes off. 11 00:00:36,479 --> 00:00:40,080 Speaker 3: The chip maker report in second quarter results and plans 12 00:00:40,080 --> 00:00:43,199 Speaker 3: to make significant workforce cutbacks. Of course, the ticker is 13 00:00:43,680 --> 00:00:48,159 Speaker 3: i NTC. The biggest concern is that their new CEO, 14 00:00:48,400 --> 00:00:50,920 Speaker 3: Lib Bhutan. There was so much excitement about it, but 15 00:00:51,000 --> 00:00:54,280 Speaker 3: the big concern was that he was more focused on 16 00:00:54,280 --> 00:00:58,360 Speaker 3: costcutting than restoring the chip maker's technological edge. So what 17 00:00:58,480 --> 00:01:02,040 Speaker 3: we saw in the report is that they will cancel 18 00:01:02,120 --> 00:01:05,880 Speaker 3: some factory project and take on a more conservative approach 19 00:01:05,959 --> 00:01:09,399 Speaker 3: to future spending. And clearly investors are not reacting very 20 00:01:09,400 --> 00:01:12,560 Speaker 3: well to that. When the job cuts, their goal is 21 00:01:12,600 --> 00:01:15,880 Speaker 3: to reduce to end the year with seventy five thousand employees. 22 00:01:16,000 --> 00:01:18,800 Speaker 3: This is actually a twenty percent cut, So that's perhaps 23 00:01:19,000 --> 00:01:23,640 Speaker 3: one reason investors are reacting. There is actually a lot 24 00:01:23,640 --> 00:01:25,920 Speaker 3: of support from the PC industry. 25 00:01:26,200 --> 00:01:27,160 Speaker 4: But what are you seeing. 26 00:01:27,000 --> 00:01:29,560 Speaker 3: There is that maybe some of that is coming from 27 00:01:29,600 --> 00:01:32,959 Speaker 3: build up in inventory, and als are not so optimistic 28 00:01:33,080 --> 00:01:35,840 Speaker 3: about that. Despite the strong first quarter. They're saying that 29 00:01:35,880 --> 00:01:39,920 Speaker 3: obviously this may not happen in the same second part 30 00:01:39,920 --> 00:01:43,480 Speaker 3: of the year. That said into given a bit third 31 00:01:43,640 --> 00:01:47,199 Speaker 3: quarter sales forecast, but still the ear today rally less 32 00:01:47,200 --> 00:01:48,000 Speaker 3: than three percent. 33 00:01:48,160 --> 00:01:51,080 Speaker 4: It's really lugging behind the big names. But it was up. 34 00:01:51,280 --> 00:01:53,120 Speaker 4: It was at Memory Bill. 35 00:01:53,120 --> 00:01:55,120 Speaker 5: Right, this is a huge haircut today, and so it 36 00:01:55,280 --> 00:01:58,720 Speaker 5: was doing better than it certainly is. All right, so 37 00:01:58,720 --> 00:02:01,080 Speaker 5: I feel like we're going to go from high tech 38 00:02:01,680 --> 00:02:03,680 Speaker 5: Intel to a little bit low tech. 39 00:02:03,760 --> 00:02:06,920 Speaker 1: Sorry Deckers, Okay, Ugs, Hoka, Teva. 40 00:02:07,000 --> 00:02:08,080 Speaker 4: What's going on exactly? 41 00:02:08,120 --> 00:02:11,560 Speaker 3: These are the brands driving driving the stock higher. The 42 00:02:11,600 --> 00:02:14,359 Speaker 3: ticker is de e Ck and the stock is a 43 00:02:14,560 --> 00:02:18,200 Speaker 3: twelve percent today. Of course, it comes after reporting net 44 00:02:18,240 --> 00:02:21,480 Speaker 3: sales for the first quarter that beat the average channelist estimate, 45 00:02:21,800 --> 00:02:25,160 Speaker 3: and the two brands start driving it as Ugs and Hokka. 46 00:02:26,040 --> 00:02:27,440 Speaker 4: That's an interesting one. 47 00:02:27,240 --> 00:02:30,960 Speaker 3: Where for Ugs they're releasing new items they have like 48 00:02:31,000 --> 00:02:32,799 Speaker 3: ah year round items. I don't know if you've seen 49 00:02:32,800 --> 00:02:36,680 Speaker 3: the sandals and then the lifestyle sneakers platform ugs. 50 00:02:36,320 --> 00:02:38,120 Speaker 5: That came out a couple of years ago, a year 51 00:02:38,120 --> 00:02:39,480 Speaker 5: and a half ago, and they're everywhere. 52 00:02:39,520 --> 00:02:40,360 Speaker 4: I see them a lot. 53 00:02:40,760 --> 00:02:43,480 Speaker 3: Hoka is also raising prices, so that seems to be 54 00:02:43,480 --> 00:02:48,320 Speaker 3: paying off their CEO, Stefan Karoate, has been steering Decoras 55 00:02:48,360 --> 00:02:52,240 Speaker 3: through tariff pressures. It's actually been a pretty rough year 56 00:02:52,560 --> 00:02:56,160 Speaker 3: despite the big jump today, the company is down more 57 00:02:56,200 --> 00:02:57,600 Speaker 3: than thirty percent, so this is. 58 00:02:57,680 --> 00:02:59,919 Speaker 4: Much needed relief. But we see a lot of buzz 59 00:03:00,360 --> 00:03:02,000 Speaker 4: across their famous brands. 60 00:03:02,080 --> 00:03:04,920 Speaker 1: Yeah, I mean the famous brands are driving the driving 61 00:03:05,040 --> 00:03:08,040 Speaker 1: sales there. I mean Hoca brand net sales increased close 62 00:03:08,040 --> 00:03:11,000 Speaker 1: to twenty percent, UG brand net sales increased close to 63 00:03:11,120 --> 00:03:14,760 Speaker 1: nineteen percent, while other brand net sales decrease nineteen percent. 64 00:03:14,880 --> 00:03:16,640 Speaker 4: So it's being powered by UG and Hoca. 65 00:03:16,720 --> 00:03:20,079 Speaker 5: Right now, let me some mugs, Let me some Sam Adams. 66 00:03:20,240 --> 00:03:22,919 Speaker 4: Yes, all right, that's a transition. 67 00:03:23,600 --> 00:03:25,680 Speaker 5: I do love this tick, our Sam. We're talking about 68 00:03:25,680 --> 00:03:28,600 Speaker 5: Boston Bear Beer. I always say that very good. 69 00:03:28,600 --> 00:03:33,200 Speaker 3: Friday transition shares are up six percent. The alcoholic beverage 70 00:03:33,200 --> 00:03:36,040 Speaker 3: maker reported earnings per share for the second quarter that 71 00:03:36,200 --> 00:03:39,520 Speaker 3: beat the AVORA Channel ass estimate. The most important bit 72 00:03:39,800 --> 00:03:42,400 Speaker 3: that is bringing relief to investors. The company expects some 73 00:03:42,440 --> 00:03:46,320 Speaker 3: more moderate effect from proposed TIPE rates and revised lower 74 00:03:46,560 --> 00:03:49,839 Speaker 3: their respective financial hits to earnings. There are new term 75 00:03:49,880 --> 00:03:53,920 Speaker 3: factors such as economic uncertainty and household budget tightening that 76 00:03:53,960 --> 00:03:56,760 Speaker 3: are definitely weighing on demand. That's what the COO is saying. 77 00:03:57,040 --> 00:03:59,280 Speaker 3: But they also have an interesting new brand. It's called 78 00:03:59,400 --> 00:04:03,880 Speaker 3: sun Cruiser, and it's been boosting sales and they expect 79 00:04:03,880 --> 00:04:04,760 Speaker 3: this to continue. 80 00:04:04,840 --> 00:04:07,280 Speaker 4: So this is like a vodka iced tea. Is the 81 00:04:07,280 --> 00:04:08,920 Speaker 4: first time I see it, but it looks very interesting. 82 00:04:09,000 --> 00:04:11,880 Speaker 3: It was launched last summer, but it continues to grows 83 00:04:11,960 --> 00:04:15,360 Speaker 3: volumes week over week, distribution expands to the big chains, 84 00:04:15,600 --> 00:04:18,080 Speaker 3: so you know, bails are not drinking, but clearly this 85 00:04:18,120 --> 00:04:20,440 Speaker 3: one is doing well. This even though Boston Beer is 86 00:04:20,480 --> 00:04:22,480 Speaker 3: still down almost thirty percent year to date. 87 00:04:22,640 --> 00:04:25,279 Speaker 5: Sorry, give me a glass of red wine. I'll be happy. 88 00:04:26,200 --> 00:04:30,200 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 89 00:04:30,279 --> 00:04:32,880 Speaker 2: us throughout the day for the latest roundup of companies 90 00:04:32,960 --> 00:04:36,040 Speaker 2: making news on Wall Street and for the latest market 91 00:04:36,080 --> 00:04:40,520 Speaker 2: moving headlines, Listen to Bloomberg Radio Live. Catch us on YouTube, 92 00:04:40,640 --> 00:04:44,120 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 93 00:04:44,200 --> 00:04:45,679 Speaker 2: the Bloomberg Business app.