WEBVTT - Walmart and Intuit Report Reports; Deere Jumps

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market.

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<v Speaker 1>Harnessing the power of Bloomberg data.

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

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<v Speaker 2>I'm Tim Keen with Paul Sweeney and Bloomberg's Alexis Christophers

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<v Speaker 2>because she has individuals stock stories.

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<v Speaker 3>It's a podcast, and I want to start with Walmart.

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<v Speaker 3>We know it, we probably shop there. Shares her down

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<v Speaker 3>three percent this morning, up though seventeen percent year to date.

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<v Speaker 3>So here's the story. Out with earnings before the bell,

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<v Speaker 3>Walmart sales grew in the most recent quarter. Shoppers looking

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<v Speaker 3>for value, they bought more online, and Walmart actually called

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<v Speaker 3>out they're seeing more buying from higher income households. Comparable

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<v Speaker 3>sales again you hear at time and time again that

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<v Speaker 3>key metric of stores open at least a year, rising

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<v Speaker 3>four point one percent. E Commerce sales jumped twenty six percent.

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<v Speaker 3>So it still is trying. You know, it's getting better

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<v Speaker 3>at competing with Amazon. Is not winning that fight just yet,

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<v Speaker 3>but for sure it's it's hot on its tails. Walmart

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<v Speaker 3>did call out higher gas prices. It said that is

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<v Speaker 3>increasing the value of its inventory at eight INChO profits

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<v Speaker 3>because transportation costs are more now to stock the shelves

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<v Speaker 3>and deliver those online orders, but those costs were offset

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<v Speaker 3>by higher sales and bigger gains from its non retail

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<v Speaker 3>business like advertising. Things are doing well there. Walmart left

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<v Speaker 3>its financial expectations for the year unchanged.

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<v Speaker 2>Walmart last ten years track record Paul twenty one percent

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<v Speaker 2>per year. Yep. Never what I have guessed that over

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<v Speaker 2>a beverage of my choice just ten years ago. All

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<v Speaker 2>time greats Walmart. Can it perform my Apple computer?

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<v Speaker 1>Sure?

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<v Speaker 2>Again?

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<v Speaker 3>Next? All right? Into it. We talked about this yesterday

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<v Speaker 3>a little bit as well. The stock is down fifteen

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<v Speaker 3>percent here and down forty two percent so far this year.

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<v Speaker 3>It is cutting seventeen percent of its staff, that's about

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<v Speaker 3>three thousand workers. It says it's trimming costs. This is

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<v Speaker 3>the financial software company. By the way. It's investing again

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<v Speaker 3>in AI. It says it's doing that to simplify things,

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<v Speaker 3>to become a faster, leaner, more focused company. That's their words.

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<v Speaker 3>Into it. Senate expects to incur about three hundred and

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<v Speaker 3>twenty million dollars in restructuring charges, largely in the current quarter.

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<v Speaker 3>But like a lot of companies in the software industry,

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<v Speaker 3>into its betting on AI, and so we're seeing those

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<v Speaker 3>job cuts as a result.

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<v Speaker 2>Who is not betting the Boston red se are betting

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<v Speaker 2>on AI?

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<v Speaker 3>Sneaker companies are betting on AI exactly. Okay. Also, they

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<v Speaker 3>laid off about eighteen hundred workers just a couple of

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<v Speaker 3>years ago, So this is another major reduction there for

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<v Speaker 3>into it.

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<v Speaker 2>Can we blame into it on Danahives?

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<v Speaker 1>Hope not?

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<v Speaker 3>And we've got I want to call out Deer. You've

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<v Speaker 3>got a lot of earnings here this morning before before

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<v Speaker 3>the bell, so Deer easily beat second quarter earnings, but

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<v Speaker 3>it was largely because of a tariff refund, and I

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<v Speaker 3>wonder how many more companies are going to be calling

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<v Speaker 3>this out on their earnings po Walmart mentioned this they did, Okay,

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<v Speaker 3>So there was a one time tariff refund of more

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<v Speaker 3>than two hundred and seventy million dollars. That's from the

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<v Speaker 3>Supreme Court striking down some of those emergency tariffs that

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<v Speaker 3>President Trump had put in place, So that actually accounted

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<v Speaker 3>for almost all of the earnings beat for Deer. So

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<v Speaker 3>Wall Street's not loving that stock is down three point

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<v Speaker 3>three percent, even though the stock is up twenty percent

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<v Speaker 3>year to date. Farmers, look, they're confronting higher input costs,

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<v Speaker 3>low commodity prices, Fertilizer prices have soared because of the

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<v Speaker 3>war with Iran, and now they've got it.

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<v Speaker 2>Fairly pulled back, right, I mean the broad Brod scheme

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<v Speaker 2>of things. I mean, Paul John Deere last ten years,

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<v Speaker 2>twenty three percent a year. Yeah, it's a cyclical business.

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<v Speaker 3>But they do a great ker. I believe they do

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<v Speaker 3>a great job. And they said that construction and power

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<v Speaker 3>generation segments are offsetting some of the softness. They're foreign

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<v Speaker 3>business data centers exactly. There they too, John Deere also

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<v Speaker 3>in the business of vase.

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<v Speaker 2>Center attractor exactly.

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<v Speaker 1>I'm direct, you bet it.

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<v Speaker 2>We'll go back.

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<v Speaker 3>I'll have an AI tractor. I don't know how that works,

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<v Speaker 3>but okay.

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<v Speaker 1>The Stockmovers report from Bloomberg Radio. Check back with us

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