Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market.
Speaker 1: Harnessing the power of Bloomberg data.
Speaker 2: Let's take a look at some stocks on the move today.
Speaker 2: I'm Tim Keen with Paul Sweeney and Bloomberg's Alexis Christophers
Speaker 2: because she has individuals stock stories.
Speaker 3: It's a podcast, and I want to start with Walmart.
Speaker 3: We know it, we probably shop there. Shares her down
Speaker 3: three percent this morning, up though seventeen percent year to date.
Speaker 3: So here's the story. Out with earnings before the bell,
Speaker 3: Walmart sales grew in the most recent quarter. Shoppers looking
Speaker 3: for value, they bought more online, and Walmart actually called
Speaker 3: out they're seeing more buying from higher income households. Comparable
Speaker 3: sales again you hear at time and time again that
Speaker 3: key metric of stores open at least a year, rising
Speaker 3: four point one percent. E Commerce sales jumped twenty six percent.
Speaker 3: So it still is trying. You know, it's getting better
Speaker 3: at competing with Amazon. Is not winning that fight just yet,
Speaker 3: but for sure it's it's hot on its tails. Walmart
Speaker 3: did call out higher gas prices. It said that is
Speaker 3: increasing the value of its inventory at eight INChO profits
Speaker 3: because transportation costs are more now to stock the shelves
Speaker 3: and deliver those online orders, but those costs were offset
Speaker 3: by higher sales and bigger gains from its non retail
Speaker 3: business like advertising. Things are doing well there. Walmart left
Speaker 3: its financial expectations for the year unchanged.
Speaker 2: Walmart last ten years track record Paul twenty one percent
Speaker 2: per year. Yep. Never what I have guessed that over
Speaker 2: a beverage of my choice just ten years ago. All
Speaker 2: time greats Walmart. Can it perform my Apple computer?
Speaker 1: Sure?
Speaker 2: Again?
Speaker 3: Next? All right? Into it. We talked about this yesterday
Speaker 3: a little bit as well. The stock is down fifteen
Speaker 3: percent here and down forty two percent so far this year.
Speaker 3: It is cutting seventeen percent of its staff, that's about
Speaker 3: three thousand workers. It says it's trimming costs. This is
Speaker 3: the financial software company. By the way. It's investing again
Speaker 3: in AI. It says it's doing that to simplify things,
Speaker 3: to become a faster, leaner, more focused company. That's their words.
Speaker 3: Into it. Senate expects to incur about three hundred and
Speaker 3: twenty million dollars in restructuring charges, largely in the current quarter.
Speaker 3: But like a lot of companies in the software industry,
Speaker 3: into its betting on AI, and so we're seeing those
Speaker 3: job cuts as a result.
Speaker 2: Who is not betting the Boston red se are betting
Speaker 2: on AI?
Speaker 3: Sneaker companies are betting on AI exactly. Okay. Also, they
Speaker 3: laid off about eighteen hundred workers just a couple of
Speaker 3: years ago, So this is another major reduction there for
Speaker 3: into it.
Speaker 2: Can we blame into it on Danahives?
Speaker 1: Hope not?
Speaker 3: And we've got I want to call out Deer. You've
Speaker 3: got a lot of earnings here this morning before before
Speaker 3: the bell, so Deer easily beat second quarter earnings, but
Speaker 3: it was largely because of a tariff refund, and I
Speaker 3: wonder how many more companies are going to be calling
Speaker 3: this out on their earnings po Walmart mentioned this they did, Okay,
Speaker 3: So there was a one time tariff refund of more
Speaker 3: than two hundred and seventy million dollars. That's from the
Speaker 3: Supreme Court striking down some of those emergency tariffs that
Speaker 3: President Trump had put in place, So that actually accounted
Speaker 3: for almost all of the earnings beat for Deer. So
Speaker 3: Wall Street's not loving that stock is down three point
Speaker 3: three percent, even though the stock is up twenty percent
Speaker 3: year to date. Farmers, look, they're confronting higher input costs,
Speaker 3: low commodity prices, Fertilizer prices have soared because of the
Speaker 3: war with Iran, and now they've got it.
Speaker 2: Fairly pulled back, right, I mean the broad Brod scheme
Speaker 2: of things. I mean, Paul John Deere last ten years,
Speaker 2: twenty three percent a year. Yeah, it's a cyclical business.
Speaker 3: But they do a great ker. I believe they do
Speaker 3: a great job. And they said that construction and power
Speaker 3: generation segments are offsetting some of the softness. They're foreign
Speaker 3: business data centers exactly. There they too, John Deere also
Speaker 3: in the business of vase.
Speaker 2: Center attractor exactly.
Speaker 1: I'm direct, you bet it.
Speaker 2: We'll go back.
Speaker 3: I'll have an AI tractor. I don't know how that works,
Speaker 3: but okay.
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