WEBVTT - Intel Tumbles, Deckers Soars, Boston Beer Rises

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Jim Stadevak along with Carol Master. Let's take a

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<v Speaker 1>look at some stocks on the move today with us

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<v Speaker 1>as Bloomberg News cross Asset reporter Deniza Sakova. Stocks maybe higher,

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<v Speaker 1>but one prominent tech name, chip name lower today.

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<v Speaker 3>Yes, old days old Ice on Intel today the stock

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<v Speaker 3>is down nine percent.

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<v Speaker 4>Now, obviously this comes off.

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<v Speaker 3>The chip maker report in second quarter results and plans

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<v Speaker 3>to make significant workforce cutbacks. Of course, the ticker is

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<v Speaker 3>i NTC. The biggest concern is that their new CEO,

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<v Speaker 3>Lib Bhutan. There was so much excitement about it, but

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<v Speaker 3>the big concern was that he was more focused on

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<v Speaker 3>costcutting than restoring the chip maker's technological edge. So what

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<v Speaker 3>we saw in the report is that they will cancel

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<v Speaker 3>some factory project and take on a more conservative approach

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<v Speaker 3>to future spending. And clearly investors are not reacting very

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<v Speaker 3>well to that. When the job cuts, their goal is

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<v Speaker 3>to reduce to end the year with seventy five thousand employees.

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<v Speaker 3>This is actually a twenty percent cut, So that's perhaps

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<v Speaker 3>one reason investors are reacting. There is actually a lot

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<v Speaker 3>of support from the PC industry.

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<v Speaker 4>But what are you seeing.

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<v Speaker 3>There is that maybe some of that is coming from

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<v Speaker 3>build up in inventory, and als are not so optimistic

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<v Speaker 3>about that. Despite the strong first quarter. They're saying that

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<v Speaker 3>obviously this may not happen in the same second part

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<v Speaker 3>of the year. That said into given a bit third

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<v Speaker 3>quarter sales forecast, but still the ear today rally less

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<v Speaker 3>than three percent.

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<v Speaker 4>It's really lugging behind the big names. But it was up.

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<v Speaker 4>It was at Memory Bill.

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<v Speaker 5>Right, this is a huge haircut today, and so it

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<v Speaker 5>was doing better than it certainly is. All right, so

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<v Speaker 5>I feel like we're going to go from high tech

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<v Speaker 5>Intel to a little bit low tech.

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<v Speaker 1>Sorry Deckers, Okay, Ugs, Hoka, Teva.

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<v Speaker 4>What's going on exactly?

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<v Speaker 3>These are the brands driving driving the stock higher. The

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<v Speaker 3>ticker is de e Ck and the stock is a

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<v Speaker 3>twelve percent today. Of course, it comes after reporting net

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<v Speaker 3>sales for the first quarter that beat the average channelist estimate,

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<v Speaker 3>and the two brands start driving it as Ugs and Hokka.

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<v Speaker 4>That's an interesting one.

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<v Speaker 3>Where for Ugs they're releasing new items they have like

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<v Speaker 3>ah year round items. I don't know if you've seen

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<v Speaker 3>the sandals and then the lifestyle sneakers platform ugs.

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<v Speaker 5>That came out a couple of years ago, a year

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<v Speaker 5>and a half ago, and they're everywhere.

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<v Speaker 4>I see them a lot.

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<v Speaker 3>Hoka is also raising prices, so that seems to be

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<v Speaker 3>paying off their CEO, Stefan Karoate, has been steering Decoras

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<v Speaker 3>through tariff pressures. It's actually been a pretty rough year

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<v Speaker 3>despite the big jump today, the company is down more

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<v Speaker 3>than thirty percent, so this is.

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<v Speaker 4>Much needed relief. But we see a lot of buzz

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<v Speaker 4>across their famous brands.

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<v Speaker 1>Yeah, I mean the famous brands are driving the driving

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<v Speaker 1>sales there. I mean Hoca brand net sales increased close

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<v Speaker 1>to twenty percent, UG brand net sales increased close to

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<v Speaker 1>nineteen percent, while other brand net sales decrease nineteen percent.

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<v Speaker 4>So it's being powered by UG and Hoca.

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<v Speaker 5>Right now, let me some mugs, Let me some Sam Adams.

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<v Speaker 4>Yes, all right, that's a transition.

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<v Speaker 5>I do love this tick, our Sam. We're talking about

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<v Speaker 5>Boston Bear Beer. I always say that very good.

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<v Speaker 3>Friday transition shares are up six percent. The alcoholic beverage

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<v Speaker 3>maker reported earnings per share for the second quarter that

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<v Speaker 3>beat the AVORA Channel ass estimate. The most important bit

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<v Speaker 3>that is bringing relief to investors. The company expects some

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<v Speaker 3>more moderate effect from proposed TIPE rates and revised lower

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<v Speaker 3>their respective financial hits to earnings. There are new term

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<v Speaker 3>factors such as economic uncertainty and household budget tightening that

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<v Speaker 3>are definitely weighing on demand. That's what the COO is saying.

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<v Speaker 3>But they also have an interesting new brand. It's called

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<v Speaker 3>sun Cruiser, and it's been boosting sales and they expect

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<v Speaker 3>this to continue.

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<v Speaker 4>So this is like a vodka iced tea. Is the

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<v Speaker 4>first time I see it, but it looks very interesting.

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<v Speaker 3>It was launched last summer, but it continues to grows

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<v Speaker 3>volumes week over week, distribution expands to the big chains,

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<v Speaker 3>so you know, bails are not drinking, but clearly this

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<v Speaker 3>one is doing well. This even though Boston Beer is

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<v Speaker 3>still down almost thirty percent year to date.

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<v Speaker 5>Sorry, give me a glass of red wine. I'll be happy.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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