WEBVTT - Visa Rises on Earnings; Humana Shares Fall; Seagate Tech Shares Jump

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>This 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>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg Stan Curtis on arguably

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<v Speaker 1>the most important earnings day of the quarter. But we're

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<v Speaker 1>not going to hear from the four of the mag

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<v Speaker 1>seven until much later today. Let's talk about some of

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<v Speaker 1>the names we've already heard from when it comes to earnings.

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<v Speaker 1>Nice little pop for Visa this morning. Good morning Dan,

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<v Speaker 1>Good morning Nathan.

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<v Speaker 3>That's right, Visa top first quarter estimates and consumers are

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<v Speaker 3>still using their credits car cards to spend. That's the

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<v Speaker 3>big takeaway. Revenue for the company rose seventeen percent from

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<v Speaker 3>the year prior. That's the biggest jump since twenty twenty two.

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<v Speaker 3>Rival American Express also saw a ten percent rise. So

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<v Speaker 3>this is not just Visa, this is across the big

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<v Speaker 3>card companies. The CEO echoing that those numbers by saying

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<v Speaker 3>that consumer spending is resilient and the company is also

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<v Speaker 3>reducing operating expenses from a year ago. That still but

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<v Speaker 3>the company is still spent more than expected. Those shares

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<v Speaker 3>are up five percent in pre market under ticker V.

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<v Speaker 1>And it looks like we've heard from Humanna, the insurer

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<v Speaker 1>as well this morning.

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<v Speaker 3>Yeah, ticker hum HUM. Those shares are down nearly eight

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<v Speaker 3>percent in the pre market. That says the Health Insured

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<v Speaker 3>reaffirmed its adjusted EPs forecast for the full year, even

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<v Speaker 3>as its first quarter profit came ahead of expectations. We've

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<v Speaker 3>seen this a few times this quarter. These companies are

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<v Speaker 3>getting punished for it for when they beat, but they

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<v Speaker 3>do not raise guidance, and that seems to be what's

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<v Speaker 3>happening here here For the first quarter results themselves, earnings

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<v Speaker 3>per share came at ten dollars and thirty one cents.

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<v Speaker 3>That's twelve cents more than estimate. So first quarter looks good,

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<v Speaker 3>but the company is not backing up the rest of

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<v Speaker 3>the year.

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<v Speaker 1>One of the biggest gainers after earnings this morning see Technology.

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<v Speaker 3>Take Our STX up eighteen percent in the pre market.

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<v Speaker 3>This is a memory company. It beat fiscal third quarter estimates.

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<v Speaker 3>The company is projecting revenue for current quarter of at

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<v Speaker 3>least three point three five billion dollars. That TOPP estimates

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<v Speaker 3>the low end of the earnings guidance for the period

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<v Speaker 3>is four dollars and eighty cents per share. The estimate

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<v Speaker 3>was under four dollars per share. So here the guidance

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<v Speaker 3>is coming in really strong, helping out those shares. They

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<v Speaker 3>don't need that much help already. Those shares are already

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<v Speaker 3>up over one hundred percent year to date. Other memory

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<v Speaker 3>names like Western Digital up nine percent, sand Disc up

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<v Speaker 3>six percent in the pre market.

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<v Speaker 1>And one of the biggest decliners after earnings, Robinhood.

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<v Speaker 3>Down ten percent undertaker hood Hood. That's its first quarternet

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<v Speaker 3>revenue missed estimates. It's this is coming as increasing adjusted

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<v Speaker 3>operating expenses come up. The company is forecasting one hundred

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<v Speaker 3>million dollars more spending in its role as brokeridge and

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<v Speaker 3>initial trustees in the so called Trump accounts. That is

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<v Speaker 3>a contract that's a cost plus basis with a small margin.

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<v Speaker 3>Company sees revenues exceeding costs on that government contract. The

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<v Speaker 3>company did see a rebound in equities options and predicted

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<v Speaker 3>prediction markets, but Crypto lagged, and that's just not adding

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<v Speaker 3>any fuel to the fire there. Those down ten percent.

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<v Speaker 1>Let's close this out, Dan with the merger news that

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<v Speaker 1>wasn't for Jack Daniels maker Brown Foreman.

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<v Speaker 3>Ticker bf Forward slash B down five percent in pre market.

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<v Speaker 3>As you said, Jack Daniels owner has terminated merger talks

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<v Speaker 3>with Proneau Recard. The two companies said in separate statements

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<v Speaker 3>they are unable to reach acceptable terms with each company

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<v Speaker 3>tightly held by families. This may clear the way for

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<v Speaker 3>talks between Brown Foreman and Sazarak, a private company behind

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<v Speaker 3>Fireball and Buffalo Trace. The Brown family that controls the

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<v Speaker 3>Kentucky base distiller was said to have favor to sale

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<v Speaker 3>to Perneau Recard, but now that that sales out the window,

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<v Speaker 3>they might be looking somewhere else. Analyst warning that Brown

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<v Speaker 3>Foreman and Sasrak deal could raise significant antitrust concern and

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<v Speaker 3>that's not helping out. Shares in the morning this morning

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<v Speaker 3>down five percent, as mentioned.

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

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<v Speaker 2>throughout the day for the latest roundup of companies making

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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