Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock movers report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Steneback, Romain Bostik, and Katie Greifel.
Speaker 1: Yeah, we're getting earnings right now. Corvo crossing the wire,
Speaker 1: and so too is Texas Instruments, the chip maker, but
Speaker 1: not necessarily the sexy ones that we like to talk
Speaker 1: about here. Industrials Automotives. The company appears to have missed
Speaker 1: on its fourth quarter EPs. For the fourth quarter a
Speaker 1: dollar twenty seven. The street was looking for a dollar thirty.
Speaker 1: That's what it actually had posted a year ago, So
Speaker 1: a dropped year over year and slightly below street estimates.
Speaker 1: Revenue did grow up about ten percent, but just in
Speaker 1: line with estimates at about four point four to two
Speaker 1: billion dollars. Fourteen percent growth in the analog business and
Speaker 1: about eight percent growth and that embedded processing business as well.
Speaker 1: The shares oscillating between gains and losses looks like right
Speaker 1: now out up about three percent in the after hours trade.
Speaker 3: Yeah, trying to decide what to do with that fourth
Speaker 3: quarter EPs. Miss I will say that this is a
Speaker 3: stock that needed some good news. You think about how
Speaker 3: it's been performing over the past year or so, higher
Speaker 3: by just about five percent eight percent when you take
Speaker 3: a look at total return, that is far under performing
Speaker 3: what we're seeing out of some of the other chip
Speaker 3: makers and what we're seeing in tech overall.
Speaker 4: Not a lot of commentary from Aviv Alan, the chairman,
Speaker 4: president and CEO of Texas Instruments, just calling out that
Speaker 4: revenue decrease seven percent sequentially, but increased ten percent from
Speaker 4: the same quarter a year ago. Over the past twelve months,
Speaker 4: we invested three point nine billion dollars in R and
Speaker 4: D and SGNA invested four point six billion and capex
Speaker 4: and returned six point five billion dollars.
Speaker 5: To you owners. Yeah, I'm just looking at a free cash
Speaker 5: flow for the fourth quarter one point three to three billion.
Speaker 5: That's up sixty five percent year over year, so a
Speaker 5: big move there. R and D expenses are up about
Speaker 5: six point one percent year over year, coming in a
Speaker 5: little bit lighter, actually a little bit above with the
Speaker 5: street expecting. So just keeping an eye on that one.
Speaker 5: Still up about three point three percent, and it's actually
Speaker 5: up for the year. I think it's up about nine
Speaker 5: or ten percent already here in twenty twenty six, so
Speaker 5: looking to build on that gain, Roommain, Yeah.
Speaker 1: Just real quickly. I just want to check in on Corvo,
Speaker 1: a much smaller cab company, but the shares down eleven percent,
Speaker 1: also in the chips space, more so for the mobile
Speaker 1: business here, the company saying that adjusted EPs did beat
Speaker 1: in this fiscal third quarter. It looks like adjusted revenue
Speaker 1: also beat here, but the guidance light seven hundred and
Speaker 1: seventy five million to eight hundred and twenty five million
Speaker 1: for the fiscal fourth quarter revenue, the street on average
Speaker 1: is looking for nine hundred and four million dollars shares
Speaker 1: down about ten percent.
Speaker 5: All right, guys, let's go do some of the individual gainers.
Speaker 5: Just want to mention Corning, which at its highs was
Speaker 5: up twenty percent in today's session, finishing with a gain
Speaker 5: of about sixteen percent. I think it's the number one
Speaker 5: gainer in the S and P five hundred on this Tuesday.
Speaker 5: This after the company announced a multi year, up to
Speaker 5: six billion dollar agreement with Meta Platforms to supply optical, fiber,
Speaker 5: cable and connectivity solutions from Meta's advanced data center, supporting
Speaker 5: its AI ambition so an ai play as we know
Speaker 5: they're Corning, by the way, CNBC pointing this out, which
Speaker 5: reported the deal initially earlier today, saying Corning is expanding
Speaker 5: its facility to cater to rising demand from the likes
Speaker 5: of Meta and Vidia, Open Ai, Google, Amazon, and Microsoft,
Speaker 5: and that stock has certainly been quite an outperformer in
Speaker 5: today's such as session. In today's trading, I should say,
Speaker 5: or actually a year to date. I'll get it there.
Speaker 5: Eventually it does report earnings before the market open tomorrow.
Speaker 5: We are waiting Seagate, which is expected to report any moment.
Speaker 5: It's the number four gainer in the S and P
Speaker 5: five hundred, top performing the S and P five hundred
Speaker 5: last year, and you can see that name actually up
Speaker 5: about four and a half percent in today's session. Analysts
Speaker 5: have been raising their price targets ahead of earnings today
Speaker 5: in the last few days, and today Muzuho Mizuho Securities
Speaker 5: raise the target on Cgate to four hundred from three seventy,
Speaker 5: maintaining its outperform rating, and the stock is already up
Speaker 5: about forty percent year to date. I don't think it's
Speaker 5: out yet, but it should be reporting shortly and then
Speaker 5: HCA Healthcare up about seven percent here at the close today,
Speaker 5: I believe to a record close in today's session, shares
Speaker 5: gaining after the company reported better than expected guidance, easing
Speaker 5: investor concerns about expiring affordable care accebsidiaries or subsidies, I
Speaker 5: should say. And so that's stuck up about seven percent, Katie,
Speaker 5: I think we have Cgate out.
Speaker 3: We certainly do. Let's take a quick look at what's
Speaker 3: going on with Cgate reporting that second quarter revenue came
Speaker 3: in at two point eight three billion dollars, a slightly
Speaker 3: ahead of estimates of two point seventy five billion dollars
Speaker 3: for their adjusted EPs. That was a beat as well,
Speaker 3: coming in at three dollars and eleven cents for the
Speaker 3: second quarter. The estimate had come in at two dollars
Speaker 3: and eighty three cents. You can see the negative reaction
Speaker 3: there as well. Looking for more detail, but have to
Speaker 3: imagine that comes down to the forecast because taking a
Speaker 3: look at the second quarter results, certainly a lot of
Speaker 3: good news there.
Speaker 4: No, it's up thirty five percent year to date, so
Speaker 4: a little bit of a decline on the day today
Speaker 4: with these earnings down three point two percent, after hours. Hey,
Speaker 4: speaking of stocks that are lower, let's take a look
Speaker 4: at some decliners today, Katie, you mentioned health insurance companies
Speaker 4: weighing on the trade today certainly saw that, with United Healthcare,
Speaker 4: CVS and Humanity United down nine point nineteen point six percent,
Speaker 4: CBS down fourteen percent, human had down more than twenty
Speaker 4: one percent. This after the US proposed holding payments to
Speaker 4: private medicare plans flat next year. United Health sees first
Speaker 4: annual revenue drop in more than thirty years. Also, shares
Speaker 4: of Jet Blue took a leg lower today. The company
Speaker 4: reported a wider loss than expected last quarter. It's challenging
Speaker 4: its strategy to win over high paying customers as far
Speaker 4: as the numbers go. Adjusted loss of forty nine cents
Speaker 4: per share three cents worse than the average analyst estimate.
Speaker 4: Shares of Jet Blue down six point nine percent today.
Speaker 4: Operating revenue did come in slightly ahead of Wall Street expectations,
Speaker 4: and finally, shares a Pinterest fell today. The company's laying
Speaker 4: off less than fifteen percent of its workforce. It plans
Speaker 4: to reduce office space as part of a global restructuring.
Speaker 4: Shares fel today by nine point six percent. It does
Speaker 4: expect the actions to be completed by the end of
Speaker 4: the third quarter and sees about thirty five to forty
Speaker 4: five million dollars in pre tax restructuring charges. Pinterest down
Speaker 4: nine point six percent.
Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.