Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock mover's report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Master, Tim Stenebeck, Romain, Bostik, and Scarlet Food.
Speaker 3: We had some fairly broad based buying today, Scarlet three
Speaker 3: hundred and thirty two names in the S and P
Speaker 3: five hundred to the Upside one hundred and sixty seven,
Speaker 3: losing ground for Unchange at least as we settle in here.
Speaker 4: All right, let's take a look at what's leading the
Speaker 4: games today. It's really a mix of cyclicals and of
Speaker 4: course big tech. You have materials and industrials, each getting
Speaker 4: about a percent. Consumer discretionary up about eight tenths of
Speaker 4: one percent, and then on the flip side, energy lower
Speaker 4: by four tens of one percent, communications services moderately lower.
Speaker 3: All right, let me get to some of the individual
Speaker 3: gainers if I may, And I feel like these are
Speaker 3: perhaps all things in Romain's life, but we'll have to
Speaker 3: see if that's true. Let's start with deckers, because that
Speaker 3: is your number one gainer in the S and P
Speaker 3: five hundred. I definitely see some ugs and some hokahs,
Speaker 3: in his closet. Stock was up as much as twenty
Speaker 3: percent intraday, finishing the day with a gain of about
Speaker 3: eleven percent. But, as I said, number one gainer in
Speaker 3: the SNP net sales for ug and Hoka, surpassing analysts
Speaker 3: estimates in the fiscal first quarter, ugg sales rising about
Speaker 3: nineteen percent, Hokah sales increasing roughly twenty percent. Bloomberg Intelligence
Speaker 3: our own analysts saying that uggs momentum further validates their
Speaker 3: conviction about the brand's health, and Hoka outperform expectations as
Speaker 3: new product upgrades fuel demand. All right, Also check out
Speaker 3: remain Tom. You might find a YETI or two in there.
Speaker 3: We had that stock up about five point six percent
Speaker 3: here at the close after a Betaville Uncooked alert says
Speaker 3: the outdoor products maker may have attracted some takeover interest.
Speaker 3: You might remember back in May that the stock rose
Speaker 3: after Jeffries said that the consumer products company stands out
Speaker 3: as an attractive target for private equity. The report, though
Speaker 3: in today's trade, citing people following the situation, identity of
Speaker 3: a potential buyers and clear though some of the people
Speaker 3: suggest a PE firm may be interested to maybe a
Speaker 3: private equity play, and then it's.
Speaker 1: Wanted to be great effle like Deckers just bought them.
Speaker 5: Carry what are the synergy?
Speaker 1: Is your big gigantic mug with your.
Speaker 3: Actually I think people who wear uggs probably carry yetties.
Speaker 5: Can I make it?
Speaker 1: I just carry like Stanley cups.
Speaker 3: Sorry, all right, all right, all right. One more thing
Speaker 3: that might be in remains driveway at Tesla. Probably not.
Speaker 3: I'm thinking you're not a driveway? Are you a Tesla guy?
Speaker 1: Well, first of all, yeah, I live in Manhattan, So no,
Speaker 1: I don't.
Speaker 2: Have a driveway.
Speaker 5: If you have a driveway, then I'm going with you
Speaker 5: to the Hamptons. You gotta driveway.
Speaker 3: You have a driveway for Tesla or garage?
Speaker 4: Because you need to try.
Speaker 1: Who drives in the city?
Speaker 5: Come on, all right, we all drive in the city.
Speaker 3: I drive in the city, all right, all right. So
Speaker 3: Tesla was a top gainer number two gainer in the
Speaker 3: NASDAQ one hundred stock up about three and a half percent.
Speaker 1: We know there.
Speaker 3: It was sold off yesterday following uh Tesla's report that
Speaker 3: came late Wednesday. In Elon's warning, Alice though raising price
Speaker 3: targets for Tesla since it reported earnings eight change price targets.
Speaker 3: The average change was up about three percent, five raised
Speaker 3: price targets by an average of almost nine percent, three
Speaker 3: cut their price target targets by an average of seven percent,
Speaker 3: and four analysts downgraded their investment recommendation none.
Speaker 1: All right, I hope yours a better.
Speaker 5: Hey, I actually got the two worst performers on a
Speaker 5: percentage basis in the S and P five hundred. Let's
Speaker 5: start with Intels down eight point five percent. You guys
Speaker 5: know what happened yesterday after the bell, Intel CEO lit
Speaker 5: Bhutan spark concerns that he's more focused on cost cutting
Speaker 5: than restoring the chip maker's technological edge. Check out what
Speaker 5: he said on the call quote, I do not subscribe
Speaker 5: to the belief that if you build it, they will come.
Speaker 5: He was referring to future spending and the spending under
Speaker 5: his predecessor just over the last couple of years in
Speaker 5: building these facilities, some of which they stopped building and
Speaker 5: they slowed down to constructure.
Speaker 1: I'm curious, so I know everyone's taking that as a negative.
Speaker 1: Is that potentially maybe a positive? I know there's been
Speaker 1: so much talk about how all these other companies are
Speaker 1: just spending all this money willy nilly and not really
Speaker 1: seeing a return from it. Maybe a more pragmatic approach.
Speaker 3: I feel like Ian King said, you got to spend.
Speaker 5: Though, right, Yeah, I mean think about this. This is Intel.
Speaker 5: This was like the king of chip making back in
Speaker 5: the day.
Speaker 3: Yeah.
Speaker 5: Yeah, it's a cyclical business. But Intel has completely missed
Speaker 5: out on this cycle. I mean yesterday, this was before
Speaker 5: the bell came, before the earnings. This was one hundred
Speaker 5: billion dollar company. It's now about a ninety billion dollar company.
Speaker 5: The question is what does it look like in its
Speaker 5: next iteration and how does it compete with the big
Speaker 5: players up?
Speaker 4: I mean the bears would say that comment sounds like
Speaker 4: he's managing for a decline or through a decline, rather
Speaker 4: than managing for a recovery, right, or for growth.
Speaker 5: I mean that's what big exact and that's why I
Speaker 5: think you saw the reaction today so well as the
Speaker 5: way to see. Remember he's still a new CEO, so
Speaker 5: he's got some time for a turnaround. But we've been
Speaker 5: saying that about the last two CEOs as well. I
Speaker 5: think it's fair to say, Hey, also, Charter Communication, this
Speaker 5: was the worst performer in the S and P five
Speaker 5: hundre today had its worst single day ever, down eighteen
Speaker 5: and a half percent. This after the company said it
Speaker 5: lost one hundred and eleven thousand residential high speed internet
Speaker 5: customers in the quarter that ended at the end of June.
Speaker 5: It was more than analysts had predicted. They're facing pressure
Speaker 5: from the rise of five G from mobile companies and
Speaker 5: also fiber home internet offerings as well. And finally taking
Speaker 5: a look at Pinnacle Financial Partners down twelve percent along
Speaker 5: with Sonovas down twelve and a half percent, this after
Speaker 5: the companies agreed to an all stock transaction valued at
Speaker 5: eight point six billion dollars. It'll combine these two banks
Speaker 5: in the US Southeastern market. But investors not liking the
Speaker 5: looks of this, at least today.
Speaker 1: All right, let's take a quick look at yield. We
Speaker 1: did actually see some movement. They are relatively modest movement,
Speaker 1: to be sure, but to the downside, basically about a
Speaker 1: one basis point across the board here. And it gets
Speaker 1: to this idea of us a little bit of stasis
Speaker 1: right now going on in the yield spaces. Everyone really
Speaker 1: tries to game out, guys, where we go next with rates,
Speaker 1: particularly in light of all the pressure the White House
Speaker 1: on Jay Powell, which we all were here live on Area.
Speaker 4: Yesterday, sometimes with harthads, sometimes without.
Speaker 1: Well, the hardhats just was like, I mean, Chef's Kiss.
Speaker 1: I mean, honestly, that's the best television we've had.
Speaker 3: Ye that moment in time is just like seared. Yeah.
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