WEBVTT - IBM Rallies; McCormick Beat; Darden Falls

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This Stock Mover's Report, your roundup of companies making moves

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<v Speaker 2>in the stock market harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Tom Keen with Paul Sweeni and Bloomberg's Alexis Cristars.

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<v Speaker 4>Right, guys, let's start with IBM. It is up about

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<v Speaker 4>two percent here this morning. It says it has the

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<v Speaker 4>blueprint for the next generation of tiny but mighty AI chips.

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<v Speaker 4>It says it can deliver chips with fifty percent better

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<v Speaker 4>performance and dramatically lower power consumption. To give you an

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<v Speaker 4>idea of what this is all about, it says that

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<v Speaker 4>it can cram more computing power into these smaller devices

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<v Speaker 4>and pack about one hundred billion transistors onto a chip

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<v Speaker 4>the size of a fingernail.

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<v Speaker 1>I don't know what these people are doing, well, Seid

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<v Speaker 1>and is there anybody not putting out these press releases

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<v Speaker 1>like everybody's got the new wizbang use it technology on

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<v Speaker 1>a pin of a needle.

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<v Speaker 4>Currently this is the smallest and fastest, so it's amazing.

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<v Speaker 5>I at least till Friday, has so many patents They

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<v Speaker 5>come up with so much new technology even today. I

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<v Speaker 5>mean they do it year in and year out. You

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<v Speaker 5>talk about all the new tech companies out there, but

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<v Speaker 5>IBM from a research perspective, they just crush it.

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<v Speaker 4>But I do have to say that it's not ready

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<v Speaker 4>for industrial use yet. They said they see a path

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<v Speaker 4>to production in about five years, and they say what

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<v Speaker 4>does this mean? Because I'm like, okay, well what does

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<v Speaker 4>this really mean. More transistors mean faster and more powerful

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<v Speaker 4>computing can help drive advances like faster smartphones, laptops, more

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<v Speaker 4>efficient data centers, better self driving cars, all that good stuff.

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<v Speaker 3>The chart from till twenty twenty two, they're sleep and

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<v Speaker 3>then boom up they go.

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<v Speaker 4>Exactly and then the stock is down eleven percent year

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<v Speaker 4>to date. So that's not accounting for this rise we're

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<v Speaker 4>seeing pre market. We have got McCormick. Let's move over

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<v Speaker 4>to the spices world. McCormick. It was up earlier this morning.

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<v Speaker 4>It's now up about one percent, but down thirty percent

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<v Speaker 4>year to date, so it's been a tough twenty twenty

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<v Speaker 4>six from McCormick. This is, of course, the Spit spices

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<v Speaker 4>and seasonings maker. It makes Chilulu hot sauce, Chilula Chilula

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<v Speaker 4>hot sauce. The red and green French is Mustard Frank's

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<v Speaker 4>Red Hot. I like that. Said, Adjusted earnings per share

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<v Speaker 4>reached eighty cents. That topped estimates. It set a tara

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<v Speaker 4>free fund helped to reduce costs of goods by twenty

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<v Speaker 4>eight million dollars. We're hearing more and more of that

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<v Speaker 4>now from companies talking about those tariffree funds and what

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<v Speaker 4>it meant to their bottom line. Also, McCormick reaffirmed its

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<v Speaker 4>full year guidance. The company saw slower growth, though in

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<v Speaker 4>spices and seasonings because quote, people were using more of

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<v Speaker 4>what's in their pantry. You know one thing about it.

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<v Speaker 4>How long do you have your spices?

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<v Speaker 2>Fortson for divorce forever?

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<v Speaker 3>Oh my god? She throws them.

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<v Speaker 5>Out, Well is it less going?

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<v Speaker 3>Looks like the expiration and goes this this, you know,

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<v Speaker 3>some unpronounceable spice. Right, it is like three years has

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<v Speaker 3>cell date.

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<v Speaker 5>It's fine, I'll go it's fine. We can use the

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<v Speaker 5>hot sauce. Maybe not as potent. Yeah, I don't understand

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<v Speaker 5>the hot sauce wave. All the kids they have it

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<v Speaker 5>at their desk, they have it with them it's almost

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<v Speaker 5>like their water bottle and sauce. And so you go

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<v Speaker 5>to a restaurant and there's not a ketchup on the table,

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<v Speaker 5>there's hot sauces.

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<v Speaker 3>It's good if I walk around with a water bottle,

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<v Speaker 3>it has a martinianuse.

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<v Speaker 1>They can do that as a hydration.

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<v Speaker 5>Yeah, we do that at Patria.

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<v Speaker 3>Next.

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<v Speaker 4>All right, what else? Oh, let's stick with food darden restaurants.

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<v Speaker 2>All right?

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<v Speaker 4>This stop taking it on the chin here. Down three

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<v Speaker 4>and a half percent in the pre market same store

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<v Speaker 4>sales at Olive Garden, trailing expectations, and they say it's

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<v Speaker 4>raising questions about demand at the company's largest chain. And

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<v Speaker 4>it actually overshadowed really an earnings report that was better

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<v Speaker 4>than expected. Overall, so Olive Garden fourth quarter same store

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<v Speaker 4>sales growth two point four percent, a four percentage lower

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<v Speaker 4>than expected. U. This suggests that promotions and lighter portions

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<v Speaker 4>were not enough to offset pressure on lower and middle

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<v Speaker 4>income consumers. You remember they used to have those humongous

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<v Speaker 4>portions which were in some ways on appetizing. Yeah, they

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<v Speaker 4>actually pulled back on that.

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<v Speaker 2>Yeah.

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<v Speaker 5>I've seen a lot of on air stuff of European

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<v Speaker 5>soccer fans in the US being interviewed. Yeah, and one

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<v Speaker 5>thing they always say is all your portions here are.

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<v Speaker 4>Big, because they are. But I do want to point

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<v Speaker 4>out Longhorn Steakhouse doing really well, continuing to benefit from

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<v Speaker 4>strong demand, even those stake prices you're so high. So

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<v Speaker 4>that's what sort of buttress starred.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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