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 Jim Stadevak along with Carol Master. Let's take a
Speaker 1: look at some stocks on the move today with us
Speaker 1: as Bloomberg News cross Asset reporter Deniza Sakova. Stocks maybe higher,
Speaker 1: but one prominent tech name, chip name lower today.
Speaker 3: Yes, old days old Ice on Intel today the stock
Speaker 3: is down nine percent.
Speaker 4: Now, obviously this comes off.
Speaker 3: The chip maker report in second quarter results and plans
Speaker 3: to make significant workforce cutbacks. Of course, the ticker is
Speaker 3: i NTC. The biggest concern is that their new CEO,
Speaker 3: Lib Bhutan. There was so much excitement about it, but
Speaker 3: the big concern was that he was more focused on
Speaker 3: costcutting than restoring the chip maker's technological edge. So what
Speaker 3: we saw in the report is that they will cancel
Speaker 3: some factory project and take on a more conservative approach
Speaker 3: to future spending. And clearly investors are not reacting very
Speaker 3: well to that. When the job cuts, their goal is
Speaker 3: to reduce to end the year with seventy five thousand employees.
Speaker 3: This is actually a twenty percent cut, So that's perhaps
Speaker 3: one reason investors are reacting. There is actually a lot
Speaker 3: of support from the PC industry.
Speaker 4: But what are you seeing.
Speaker 3: There is that maybe some of that is coming from
Speaker 3: build up in inventory, and als are not so optimistic
Speaker 3: about that. Despite the strong first quarter. They're saying that
Speaker 3: obviously this may not happen in the same second part
Speaker 3: of the year. That said into given a bit third
Speaker 3: quarter sales forecast, but still the ear today rally less
Speaker 3: than three percent.
Speaker 4: It's really lugging behind the big names. But it was up.
Speaker 4: It was at Memory Bill.
Speaker 5: Right, this is a huge haircut today, and so it
Speaker 5: was doing better than it certainly is. All right, so
Speaker 5: I feel like we're going to go from high tech
Speaker 5: Intel to a little bit low tech.
Speaker 1: Sorry Deckers, Okay, Ugs, Hoka, Teva.
Speaker 4: What's going on exactly?
Speaker 3: These are the brands driving driving the stock higher. The
Speaker 3: ticker is de e Ck and the stock is a
Speaker 3: twelve percent today. Of course, it comes after reporting net
Speaker 3: sales for the first quarter that beat the average channelist estimate,
Speaker 3: and the two brands start driving it as Ugs and Hokka.
Speaker 4: That's an interesting one.
Speaker 3: Where for Ugs they're releasing new items they have like
Speaker 3: ah year round items. I don't know if you've seen
Speaker 3: the sandals and then the lifestyle sneakers platform ugs.
Speaker 5: That came out a couple of years ago, a year
Speaker 5: and a half ago, and they're everywhere.
Speaker 4: I see them a lot.
Speaker 3: Hoka is also raising prices, so that seems to be
Speaker 3: paying off their CEO, Stefan Karoate, has been steering Decoras
Speaker 3: through tariff pressures. It's actually been a pretty rough year
Speaker 3: despite the big jump today, the company is down more
Speaker 3: than thirty percent, so this is.
Speaker 4: Much needed relief. But we see a lot of buzz
Speaker 4: across their famous brands.
Speaker 1: Yeah, I mean the famous brands are driving the driving
Speaker 1: sales there. I mean Hoca brand net sales increased close
Speaker 1: to twenty percent, UG brand net sales increased close to
Speaker 1: nineteen percent, while other brand net sales decrease nineteen percent.
Speaker 4: So it's being powered by UG and Hoca.
Speaker 5: Right now, let me some mugs, Let me some Sam Adams.
Speaker 4: Yes, all right, that's a transition.
Speaker 5: I do love this tick, our Sam. We're talking about
Speaker 5: Boston Bear Beer. I always say that very good.
Speaker 3: Friday transition shares are up six percent. The alcoholic beverage
Speaker 3: maker reported earnings per share for the second quarter that
Speaker 3: beat the AVORA Channel ass estimate. The most important bit
Speaker 3: that is bringing relief to investors. The company expects some
Speaker 3: more moderate effect from proposed TIPE rates and revised lower
Speaker 3: their respective financial hits to earnings. There are new term
Speaker 3: factors such as economic uncertainty and household budget tightening that
Speaker 3: are definitely weighing on demand. That's what the COO is saying.
Speaker 3: But they also have an interesting new brand. It's called
Speaker 3: sun Cruiser, and it's been boosting sales and they expect
Speaker 3: this to continue.
Speaker 4: So this is like a vodka iced tea. Is the
Speaker 4: first time I see it, but it looks very interesting.
Speaker 3: It was launched last summer, but it continues to grows
Speaker 3: volumes week over week, distribution expands to the big chains,
Speaker 3: so you know, bails are not drinking, but clearly this
Speaker 3: one is doing well. This even though Boston Beer is
Speaker 3: still down almost thirty percent year to date.
Speaker 5: Sorry, give me a glass of red wine. I'll be happy.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
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