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 Stenovak, Romain Bostik, and Scarlett Foo,
Speaker 2: the Dow.
Speaker 1: Jones Industrial Average is going to finish the day in
Speaker 1: the green, up about two hundred and sixty points, or
Speaker 1: six tents of one percent. The S and P down
Speaker 1: about a tenth of a percent, closing right around that
Speaker 1: sixty six hundred level. The NASDAK Composite and NASDAQ one
Speaker 1: hundred each lower by about two to three tenths of
Speaker 1: one percent, and the Russell two thousand is maintaining some
Speaker 1: of its gains on the day, hire by four points
Speaker 1: or two tenths of one percent. But we should point
Speaker 1: out at one point, Carol, it was up a full
Speaker 1: two percentage points.
Speaker 3: Got to say, we were thinking about you. We know
Speaker 3: you like to talk about that index and just kind
Speaker 3: of watching the move, but you know, certainly a little
Speaker 3: bit different by the end of the day. Hey, S
Speaker 3: and P five hundred, guys, I know you're going to
Speaker 3: get into the industry groups there remain, but you did
Speaker 3: have about two hundred and eighty eight names actually gaining
Speaker 3: on this FED Wednesday, two hundred and thirteen to the
Speaker 3: downside two unchanged.
Speaker 1: Yeah, and it's kind of interesting though, I mean, you
Speaker 1: talk about, how do you get two hundred and eighty
Speaker 1: eight names, the majority of the names in the smb rallying,
Speaker 1: yet it finishes in the red. Well, A big part
Speaker 1: of the reason is well, tech was pretty much at
Speaker 1: the bottom of that list as a sector. It was
Speaker 1: the worst performing of the eleven sectors out there. Your
Speaker 1: leaders are on the day where a lot of the
Speaker 1: economic or ressus ME interest rates sensitive sectors, including financials,
Speaker 1: they were your gainers here on the day. Utilities also
Speaker 1: getting a pretty strong bid as well.
Speaker 3: Yeah, that's a lot of red there right when you
Speaker 3: really kind of break it down in that way. Hey, listen,
Speaker 3: let's get to some of the individual gainers workday. This
Speaker 3: was a standout in both the S and P five
Speaker 3: hundred the Nasdaq one hundred at one point, let me
Speaker 3: just see, up about ten percent, almost ten percent at
Speaker 3: its highs of this session, finishing though still with about
Speaker 3: a gain of about seven and a quarter percent. Companies
Speaker 3: Board authorized a buyback of up to an additional four
Speaker 3: billion dollars worth of shares. And also you had Ellied
Speaker 3: Investment Management unveiling a two billion dollar plus investment in
Speaker 3: the company, the activist investor saying the company's CEO and
Speaker 3: his team have made substantial progress in recent years driving
Speaker 3: growth and customer retention. They put out a statement yesterday.
Speaker 3: So investors moving into that one investor.
Speaker 1: And did you take a look at like just kind
Speaker 1: of the long term chart on this, I mean just
Speaker 1: really one of the biggest laggards in this space that
Speaker 1: we've seen.
Speaker 2: No.
Speaker 3: I know, you're right, a long term perspective always important
Speaker 3: on this one. But to see some investor momentum at
Speaker 3: this point. But that's what an activist investor will do.
Speaker 3: We'll get investors to take a second look. Hey by
Speaker 3: do also anperformer finishing pretty much at its best levels
Speaker 3: of the session. I'm looking at the ADRs tack or
Speaker 3: BIDU finishing up more than eleven percent in today's session.
Speaker 3: It is China's largest search engine operator. Overnight, I should
Speaker 3: point out shares jumped in Asia the most in over
Speaker 3: two years, in analysts upgrading the company, citing the growth
Speaker 3: potential for its in house chip business. So you had
Speaker 3: a bunch of analysts coming out. Our Research Services lifted
Speaker 3: its radio and by American ad rs to buy from
Speaker 3: sell it. It held the only Cell recommendation on the
Speaker 3: stock since that downgraded it last May. So this one
Speaker 3: a bunch of other analysts coming out and weighing in.
Speaker 3: Everybody's looking at me. I'm a little nervous, you know.
Speaker 4: No, you're good. Okay, I just feel bad about Krispy Kreme.
Speaker 3: Okay, we're going to get to Krispy Kreme. Let's go there.
Speaker 3: This is this is Tim moving me along. Stock was
Speaker 3: up about eleven and a half.
Speaker 4: That'sion. That's why I feel bad.
Speaker 3: Still leaking out a gain, but not even a one
Speaker 3: full percentage point. Sorry, Carol.
Speaker 4: I convinced her to do it. Romain, I said, you
Speaker 4: got to.
Speaker 1: Do that's a big story.
Speaker 3: I know it was a bigger.
Speaker 1: So what's the deal now? The FBI director what is he?
Speaker 1: Is he like taking over Krispy Kreme? What's happening?
Speaker 3: No? No, he's got a day job already, and he's
Speaker 3: also been pretty busy, you know. Answering questions from members
Speaker 3: of Congress, the FBI director Cash Ptel, questioned by one
Speaker 3: representative before the House Judiciary Committee about stock purchases from
Speaker 3: a disclosure for me he signed in July. He was
Speaker 3: asked about the transactions, including one in a national coffee
Speaker 3: house chain that would be this one, and also one
Speaker 3: in a semi conductor company on semi conductor was on
Speaker 3: the move too, But yeah, I thought we'd ste this one.
Speaker 1: And just the too quick, honorable mention. I just want
Speaker 1: to point out PayPal jump popping about three percent on
Speaker 1: that partnership with Google, and of course Lyft now at
Speaker 1: its highest level since twenty twenty two. Carol on News
Speaker 1: here of that partnership with Weimo.
Speaker 4: I'm glad he did Lift because now I can talk
Speaker 4: about Uber. It was the second biggest decliner in the
Speaker 4: S and P five hundreds.
Speaker 1: Wouldn't even plan this out.
Speaker 4: We didn't. We didn't down five percent.
Speaker 3: Of TV to this earlier. I'm sure you planned a.
Speaker 4: Lot of As remain mentioned, Lift is partnering with weymoud
Speaker 4: offer robotaxi service in Nashville starting next year. May sound
Speaker 4: kind of familiar because Uber has a lot of these
Speaker 4: deals already. This one is the first one between Weimo
Speaker 4: and Lyft. Weimo is already an established partner with Uber.
Speaker 4: These two companies have struck multi year deals back in
Speaker 4: twenty twenty three. Uber now offers Weymo trips in Phoenix, Austin,
Speaker 4: and Atlanta. So Uber declining on the news that Lift
Speaker 4: is now playing with Waimo as well. Also not all
Speaker 4: IPOs in the last few weeks doing stellar. Look at
Speaker 4: stub Hub today actually fell six point four percent in
Speaker 4: its debut, falling below the IPO after the ticketing platform
Speaker 4: raised eight hundred million dollars in its IPO. The company
Speaker 4: sold thirty four million shares at twenty three to fifty
Speaker 4: and its market value is about eight and a half
Speaker 4: billion dollar. That's based on the outstanding shares listed in
Speaker 4: its earlier findings. And finally, General Mills found today by
Speaker 4: eight tenths of one percent, even though the company reported
Speaker 4: just earnings per share for the fiscal first quarter the
Speaker 4: top testimates.
Speaker 1: I just want to point out you mentioned StubHub falling
Speaker 1: below its IPO price, which point out Gemini Space, which
Speaker 1: went public last week at twenty eight bucks a year
Speaker 1: open at thirty seven, closing below that twenty eight dollars
Speaker 1: price at twenty four and change. Here on this Wednesday afternoon,
Speaker 1: we are expecting some earnings I believe out of Cracker Barrel.
Speaker 1: They are crossing the wire right now, Let's take a look,
Speaker 1: of course, a company that has been in the spotlight
Speaker 1: mainly for political and cultural war reasons. Well, this is
Speaker 1: bottom line story, and the bottom line is a miss
Speaker 1: seventy four cents a share in the most recent quarter
Speaker 1: of the street was looking for seventy six incent since
Speaker 1: a share. The revenue did come in above estimates at
Speaker 1: about eight hundred and sixty eight million dollars. Here's the
Speaker 1: company's guidance going forward for twenty twenty six, which is
Speaker 1: basically the fiscal year that they are in right now.
Speaker 1: They say that revenue will be in a range of
Speaker 1: three point three to five to three point four to
Speaker 1: five billion, the high end of that range below the
Speaker 1: average of analyst estimates a three point five to two billion.
Speaker 4: All right, I'm looking through the press release, and yes
Speaker 4: there is commentary on the logo controversy. It's the first
Speaker 4: thing and pretty much the only thing that's mentioned at
Speaker 4: the top. Julie Messino, the company's president CEO, said, quote,
Speaker 4: we thank our guests for sharing their voices and their
Speaker 4: passion for Cracker Barrel. In recent weeks, and we've listened
Speaker 4: switching back to our old timer logo, hitting pause on remodels,
Speaker 4: and placing even bigger emphasis in the kitchen and other
Speaker 4: areas that enhance the guest experience. Many elements of our
Speaker 4: plan are working well in delivering results.
Speaker 3: Well, I got to say, this is a style nightmare
Speaker 3: is over that is heavily shorted. About twenty five percent
Speaker 3: of the float is shorted. So on any you know,
Speaker 3: you'll see some activity maybe coming off of these earnings,
Speaker 3: that's for sure.
Speaker 2: The 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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