Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: This 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 take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg Stan Curtis on arguably
Speaker 1: the most important earnings day of the quarter. But we're
Speaker 1: not going to hear from the four of the mag
Speaker 1: seven until much later today. Let's talk about some of
Speaker 1: the names we've already heard from when it comes to earnings.
Speaker 1: Nice little pop for Visa this morning. Good morning Dan,
Speaker 1: Good morning Nathan.
Speaker 3: That's right, Visa top first quarter estimates and consumers are
Speaker 3: still using their credits car cards to spend. That's the
Speaker 3: big takeaway. Revenue for the company rose seventeen percent from
Speaker 3: the year prior. That's the biggest jump since twenty twenty two.
Speaker 3: Rival American Express also saw a ten percent rise. So
Speaker 3: this is not just Visa, this is across the big
Speaker 3: card companies. The CEO echoing that those numbers by saying
Speaker 3: that consumer spending is resilient and the company is also
Speaker 3: reducing operating expenses from a year ago. That still but
Speaker 3: the company is still spent more than expected. Those shares
Speaker 3: are up five percent in pre market under ticker V.
Speaker 1: And it looks like we've heard from Humanna, the insurer
Speaker 1: as well this morning.
Speaker 3: Yeah, ticker hum HUM. Those shares are down nearly eight
Speaker 3: percent in the pre market. That says the Health Insured
Speaker 3: reaffirmed its adjusted EPs forecast for the full year, even
Speaker 3: as its first quarter profit came ahead of expectations. We've
Speaker 3: seen this a few times this quarter. These companies are
Speaker 3: getting punished for it for when they beat, but they
Speaker 3: do not raise guidance, and that seems to be what's
Speaker 3: happening here here For the first quarter results themselves, earnings
Speaker 3: per share came at ten dollars and thirty one cents.
Speaker 3: That's twelve cents more than estimate. So first quarter looks good,
Speaker 3: but the company is not backing up the rest of
Speaker 3: the year.
Speaker 1: One of the biggest gainers after earnings this morning see Technology.
Speaker 3: Take Our STX up eighteen percent in the pre market.
Speaker 3: This is a memory company. It beat fiscal third quarter estimates.
Speaker 3: The company is projecting revenue for current quarter of at
Speaker 3: least three point three five billion dollars. That TOPP estimates
Speaker 3: the low end of the earnings guidance for the period
Speaker 3: is four dollars and eighty cents per share. The estimate
Speaker 3: was under four dollars per share. So here the guidance
Speaker 3: is coming in really strong, helping out those shares. They
Speaker 3: don't need that much help already. Those shares are already
Speaker 3: up over one hundred percent year to date. Other memory
Speaker 3: names like Western Digital up nine percent, sand Disc up
Speaker 3: six percent in the pre market.
Speaker 1: And one of the biggest decliners after earnings, Robinhood.
Speaker 3: Down ten percent undertaker hood Hood. That's its first quarternet
Speaker 3: revenue missed estimates. It's this is coming as increasing adjusted
Speaker 3: operating expenses come up. The company is forecasting one hundred
Speaker 3: million dollars more spending in its role as brokeridge and
Speaker 3: initial trustees in the so called Trump accounts. That is
Speaker 3: a contract that's a cost plus basis with a small margin.
Speaker 3: Company sees revenues exceeding costs on that government contract. The
Speaker 3: company did see a rebound in equities options and predicted
Speaker 3: prediction markets, but Crypto lagged, and that's just not adding
Speaker 3: any fuel to the fire there. Those down ten percent.
Speaker 1: Let's close this out, Dan with the merger news that
Speaker 1: wasn't for Jack Daniels maker Brown Foreman.
Speaker 3: Ticker bf Forward slash B down five percent in pre market.
Speaker 3: As you said, Jack Daniels owner has terminated merger talks
Speaker 3: with Proneau Recard. The two companies said in separate statements
Speaker 3: they are unable to reach acceptable terms with each company
Speaker 3: tightly held by families. This may clear the way for
Speaker 3: talks between Brown Foreman and Sazarak, a private company behind
Speaker 3: Fireball and Buffalo Trace. The Brown family that controls the
Speaker 3: Kentucky base distiller was said to have favor to sale
Speaker 3: to Perneau Recard, but now that that sales out the window,
Speaker 3: they might be looking somewhere else. Analyst warning that Brown
Speaker 3: Foreman and Sasrak deal could raise significant antitrust concern and
Speaker 3: that's not helping out. Shares in the morning this morning
Speaker 3: down five percent, as mentioned.
Speaker 2: This Stockmover's report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
Speaker 2: news on Wall Street and for the latest market moving headlines.
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