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 Tom Keen with Paul Sweeni and Bloomberg's Lisa Matteo.
Speaker 2: Here with the movers today. Is Tarje a mover?
Speaker 3: Yes, Tarje, you said it correctly, Thank you very much,
Speaker 3: ticking TGT. It's down as much as three percent, so
Speaker 3: basically they shrim their profit forecast for the year. It's
Speaker 3: dealing with markdown, softman key merchandise areas. It's COO was
Speaker 3: actually going to become the CEO in February. He said
Speaker 3: that they're not even satisfied with the current results, but
Speaker 3: he said they're moving in the right direction. The company's
Speaker 3: been struggling to return to growth and had this big
Speaker 3: boom during the pandemic. A lot of challenges, right they
Speaker 3: had the tougher consumer economy, cooling job market. But if
Speaker 3: you remember, it was also hit by those boycotts when
Speaker 3: it kind of pulled back on its firsity initiatives.
Speaker 4: So that's kind of hurting the company.
Speaker 3: They plan though, to increase capital spending to five billion
Speaker 3: next year.
Speaker 4: They're using AI.
Speaker 3: They're partnering with open ai to let trumpers use you know,
Speaker 3: chat GPT on its platform.
Speaker 4: So they're starting to do things.
Speaker 2: Lisa, Costco help us here for our international audience. What's
Speaker 2: the difference when you walk into a Target versus a Walmart?
Speaker 3: I say, there's more. It's about value. I don't know,
Speaker 3: I feel like you. I always spend more at Target.
Speaker 3: Maybe it's just my daughter.
Speaker 1: I don't know.
Speaker 4: Maybe she just piles up the cart with the.
Speaker 3: Yes because they love the beauty products. Oh they do
Speaker 3: do that, yes, yes, yes, but that's what I feel
Speaker 3: like other like a Costco or like a Walmart's.
Speaker 5: Well, here's a Blomberg headline here, Target studying ways to
Speaker 5: expand beauty offerings after halta deal. Right, just cross the
Speaker 5: tape naked. That's amazing, making car daughters of line three?
Speaker 2: Yes.
Speaker 4: Next, all right, we go to Low's.
Speaker 3: Remember TAKR Low up as much as six percent home
Speaker 3: depot yesterday. They said consumers were pulling back on these
Speaker 3: big ticket items that pushed them to cut their full
Speaker 3: year profit target. But Low's reported profit topped expectations, so
Speaker 3: they did better positive same store sales growth second quarter
Speaker 3: in a row.
Speaker 4: A big thing for them is.
Speaker 3: That pick up an online sales growth from professional contractors.
Speaker 3: And they've really been focusing on this. If you remember,
Speaker 3: they had that you know, more than eight billion dollar
Speaker 3: cash yal to buy out Drywall Company foundation building materials,
Speaker 3: and that deepen their market position with contractors. And the
Speaker 3: reason contractors are important because they tend to buy more
Speaker 3: and they spend more frequently compared to every day joe
Speaker 3: like me who walks in the.
Speaker 5: Store, right or John Tucker Joker, yeah, John Tucker, right, yeah.
Speaker 5: And what Drew Redding said from Bloomberg Intelligence is Home
Speaker 5: Depot does have a higher percentage of its revenue come
Speaker 5: from those professionals builders as Lows. So okay, Low's just
Speaker 5: trying to close the.
Speaker 2: Gap a little bit. They moved over to Third Avenue,
Speaker 2: and I can tell you that the professionals yep as
Speaker 2: you call them, are lined up and four pole parked, yes,
Speaker 2: taking Third Avenue down with one lane ex around the
Speaker 2: new Home.
Speaker 5: Depot exactly just got away from here. That's good enough
Speaker 5: for men exactly. Okay.
Speaker 3: Next, we have marketing platform sem Rush sem are there.
Speaker 3: Shares are up as much as seventy four percent. Okay,
Speaker 3: the reason behind this is Adobe News.
Speaker 5: Right.
Speaker 3: Adobe agreed to buy the company one point nine billion dollars.
Speaker 3: It's actually Adobe's first takeover anouncement since they had that
Speaker 3: failed number twenty billion dollar acquisition of Figma back in
Speaker 3: twenty twenty two. All cash deal expected to close the
Speaker 3: first half of twenty twenty six. If you're wondering, like,
Speaker 3: what is sem rush? What do they do? Okay, they're
Speaker 3: this platform. They allow businesses to analyze optimize their online marketing,
Speaker 3: but it includes how their company appears in AI search results,
Speaker 3: which is key.
Speaker 4: It was just what Adobe is kind of looking.
Speaker 3: It feels like it's going to help them kind of
Speaker 3: expand in that space because they also offer things like
Speaker 3: marketing and analytics tools.
Speaker 4: So they're hoping that's going to help out.
Speaker 2: Go wad up in Boston. Yeah, getting it done for
Speaker 2: fifteen hundred people, Okay, Gene eleven, Brian mulroy and a
Speaker 2: host of others.
Speaker 5: Yep, all right, technology, go for it.
Speaker 2: Congratulations. Brinley Johnson's having a busy morning there as well.
Speaker 2: Is that all you have today? Do you have a
Speaker 2: n video comment or.
Speaker 3: No, you want to call lazy boy, please Lady Lazy
Speaker 3: march lazy Boy. Their shares are up like eleven percent
Speaker 3: sales adjustor for share beat expectations, So good news for
Speaker 3: Lazyboy survived.
Speaker 4: That's recliners absolutely.
Speaker 1: This stock Movers report from Bloomberg Radio. Check back with
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Speaker 1: making news on Wall Street and for the latest market
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