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: Let's tick look some of the stocks on the move today.
Speaker 1: We can do that with Isabell Lee, Cross Asset Reporter Foreberviews. Isabelle,
Speaker 1: what are you looking at? I brought stocks that are
Speaker 1: all read across the screen. I don't know if that's
Speaker 1: symbolic of something. Not my mood for sure, But let's
Speaker 1: start with Broadcom takeris Avgo shares are down back by
Speaker 1: nearly fifteen percent. Again, it's really the outlook that underwhelmed investors.
Speaker 1: It just honestly means that the effort that it's put
Speaker 1: to gain ground is going slower than anticipated. The AI
Speaker 1: semiconductor revenue will be sixteen billion in the fiscal third quarter.
Speaker 1: Analysts projected seventeen point two billion on average, and we
Speaker 1: have the CEO saying he will sell fifty six billion
Speaker 1: in AI chips in the year that ends in October. Again,
Speaker 1: that fell shot of estimate. So we also must remember
Speaker 1: that they're trying to pivot to AI, but they're against
Speaker 1: outsized investor competition, which sometimes makes you think should I
Speaker 1: even try? But I guess you can't. You should always
Speaker 1: try it, Yes, exactly, And they're also taking a bigger
Speaker 1: role in helping finance purchase of chips. But yes, they're
Speaker 1: down by nearly fifteen percent. That's the biggest job since
Speaker 1: January twenty twenty five. All right, let's stick with the
Speaker 1: tech theme because you have another decliner that's down quite large,
Speaker 1: quite large. We're talking about Crowdstrack ticker CRWD down by
Speaker 1: eight percent, and if you just put the ticker in
Speaker 1: your terminal, you see a slew of upgrades, which is
Speaker 1: honestly a little I mean, one would think that it's confusing,
Speaker 1: but I guess they're just seeing it as a more
Speaker 1: runway from here. So Crowdtrack is a security software company.
Speaker 1: They reported first quarter result and gave outlook that kind
Speaker 1: of met estimates, and you see a slew of Skotia banks.
Speaker 1: So is Kihana's defense Stevie Cowan raising their price targets
Speaker 1: from a range of seven hundred to a hundred, and
Speaker 1: that's coming from some are around four hundred to five hundred.
Speaker 1: So those are big increases. But even still investors again
Speaker 1: are disappointed. I guess it's really all about the outlook
Speaker 1: for here. And stock is down and we're seeing the
Speaker 1: biggest job since at least February five below five below
Speaker 1: ticker is five five, so I think they want their
Speaker 1: chairs are down fourteen percent. We also see this one.
Speaker 1: Now we're seeing some downgrades from them, at least when
Speaker 1: it comes to price target. So the stock is down
Speaker 1: that this is a discount retailer. They reported first quarter
Speaker 1: results that beat expectations, and they boosted their full guidance
Speaker 1: for the year. But again it's the profit guidance for
Speaker 1: the full year that really spooked investors because they signaled
Speaker 1: caution because they said that, you know, consumers might not
Speaker 1: be as strong. We always talk about the K shape economy,
Speaker 1: and I think this is the lower end of the K.
Speaker 1: An interesting tangential note I read from Vincent Delaward of
Speaker 1: Stone Neck saying that the upper K actually is splintering
Speaker 1: to really yeah, which was I thought, Oh, but you know,
Speaker 1: I mean even for people who are quote doing well,
Speaker 1: they feel the pinch, like when you go to the
Speaker 1: grocery or when you do things, everything just feels much
Speaker 1: more expensive. But yes, we're talking about the lower K.
Speaker 1: On this one because I think everything here is billow
Speaker 1: five dollars.
Speaker 2: Yeah, especially when your pay is not keeping pace with inflation. Yes,
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