WEBVTT - Closing Bell: Intel Tumbles, Tesla Rebounds, Deckers Rises

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

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<v Speaker 2>This is the closing bell on this stock mover's report.

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<v Speaker 2>The company's making moves at the close of US trading

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<v Speaker 2>with Carol Master, Tim Stenebeck, Romain, Bostik, and Scarlet Food.

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<v Speaker 3>We had some fairly broad based buying today, Scarlet three

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<v Speaker 3>hundred and thirty two names in the S and P

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<v Speaker 3>five hundred to the Upside one hundred and sixty seven,

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<v Speaker 3>losing ground for Unchange at least as we settle in here.

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<v Speaker 4>All right, let's take a look at what's leading the

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<v Speaker 4>games today. It's really a mix of cyclicals and of

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<v Speaker 4>course big tech. You have materials and industrials, each getting

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<v Speaker 4>about a percent. Consumer discretionary up about eight tenths of

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<v Speaker 4>one percent, and then on the flip side, energy lower

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<v Speaker 4>by four tens of one percent, communications services moderately lower.

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<v Speaker 3>All right, let me get to some of the individual

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<v Speaker 3>gainers if I may, And I feel like these are

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<v Speaker 3>perhaps all things in Romain's life, but we'll have to

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<v Speaker 3>see if that's true. Let's start with deckers, because that

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<v Speaker 3>is your number one gainer in the S and P

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<v Speaker 3>five hundred. I definitely see some ugs and some hokahs,

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<v Speaker 3>in his closet. Stock was up as much as twenty

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<v Speaker 3>percent intraday, finishing the day with a gain of about

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<v Speaker 3>eleven percent. But, as I said, number one gainer in

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<v Speaker 3>the SNP net sales for ug and Hoka, surpassing analysts

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<v Speaker 3>estimates in the fiscal first quarter, ugg sales rising about

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<v Speaker 3>nineteen percent, Hokah sales increasing roughly twenty percent. Bloomberg Intelligence

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<v Speaker 3>our own analysts saying that uggs momentum further validates their

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<v Speaker 3>conviction about the brand's health, and Hoka outperform expectations as

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<v Speaker 3>new product upgrades fuel demand. All right, Also check out

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<v Speaker 3>remain Tom. You might find a YETI or two in there.

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<v Speaker 3>We had that stock up about five point six percent

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<v Speaker 3>here at the close after a Betaville Uncooked alert says

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<v Speaker 3>the outdoor products maker may have attracted some takeover interest.

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<v Speaker 3>You might remember back in May that the stock rose

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<v Speaker 3>after Jeffries said that the consumer products company stands out

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<v Speaker 3>as an attractive target for private equity. The report, though

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<v Speaker 3>in today's trade, citing people following the situation, identity of

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<v Speaker 3>a potential buyers and clear though some of the people

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<v Speaker 3>suggest a PE firm may be interested to maybe a

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<v Speaker 3>private equity play, and then it's.

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<v Speaker 1>Wanted to be great effle like Deckers just bought them.

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<v Speaker 5>Carry what are the synergy?

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<v Speaker 1>Is your big gigantic mug with your.

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<v Speaker 3>Actually I think people who wear uggs probably carry yetties.

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<v Speaker 5>Can I make it?

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<v Speaker 1>I just carry like Stanley cups.

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<v Speaker 3>Sorry, all right, all right, all right. One more thing

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<v Speaker 3>that might be in remains driveway at Tesla. Probably not.

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<v Speaker 3>I'm thinking you're not a driveway? Are you a Tesla guy?

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<v Speaker 1>Well, first of all, yeah, I live in Manhattan, So no,

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<v Speaker 1>I don't.

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<v Speaker 2>Have a driveway.

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<v Speaker 5>If you have a driveway, then I'm going with you

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<v Speaker 5>to the Hamptons. You gotta driveway.

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<v Speaker 3>You have a driveway for Tesla or garage?

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<v Speaker 4>Because you need to try.

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<v Speaker 1>Who drives in the city?

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<v Speaker 5>Come on, all right, we all drive in the city.

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<v Speaker 3>I drive in the city, all right, all right. So

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<v Speaker 3>Tesla was a top gainer number two gainer in the

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<v Speaker 3>NASDAQ one hundred stock up about three and a half percent.

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<v Speaker 1>We know there.

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<v Speaker 3>It was sold off yesterday following uh Tesla's report that

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<v Speaker 3>came late Wednesday. In Elon's warning, Alice though raising price

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<v Speaker 3>targets for Tesla since it reported earnings eight change price targets.

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<v Speaker 3>The average change was up about three percent, five raised

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<v Speaker 3>price targets by an average of almost nine percent, three

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<v Speaker 3>cut their price target targets by an average of seven percent,

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<v Speaker 3>and four analysts downgraded their investment recommendation none.

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<v Speaker 1>All right, I hope yours a better.

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<v Speaker 5>Hey, I actually got the two worst performers on a

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<v Speaker 5>percentage basis in the S and P five hundred. Let's

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<v Speaker 5>start with Intels down eight point five percent. You guys

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<v Speaker 5>know what happened yesterday after the bell, Intel CEO lit

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<v Speaker 5>Bhutan spark concerns that he's more focused on cost cutting

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<v Speaker 5>than restoring the chip maker's technological edge. Check out what

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<v Speaker 5>he said on the call quote, I do not subscribe

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<v Speaker 5>to the belief that if you build it, they will come.

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<v Speaker 5>He was referring to future spending and the spending under

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<v Speaker 5>his predecessor just over the last couple of years in

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<v Speaker 5>building these facilities, some of which they stopped building and

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<v Speaker 5>they slowed down to constructure.

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<v Speaker 1>I'm curious, so I know everyone's taking that as a negative.

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<v Speaker 1>Is that potentially maybe a positive? I know there's been

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<v Speaker 1>so much talk about how all these other companies are

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<v Speaker 1>just spending all this money willy nilly and not really

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<v Speaker 1>seeing a return from it. Maybe a more pragmatic approach.

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<v Speaker 3>I feel like Ian King said, you got to spend.

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<v Speaker 5>Though, right, Yeah, I mean think about this. This is Intel.

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<v Speaker 5>This was like the king of chip making back in

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<v Speaker 5>the day.

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<v Speaker 3>Yeah.

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<v Speaker 5>Yeah, it's a cyclical business. But Intel has completely missed

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<v Speaker 5>out on this cycle. I mean yesterday, this was before

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<v Speaker 5>the bell came, before the earnings. This was one hundred

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<v Speaker 5>billion dollar company. It's now about a ninety billion dollar company.

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<v Speaker 5>The question is what does it look like in its

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<v Speaker 5>next iteration and how does it compete with the big

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<v Speaker 5>players up?

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<v Speaker 4>I mean the bears would say that comment sounds like

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<v Speaker 4>he's managing for a decline or through a decline, rather

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<v Speaker 4>than managing for a recovery, right, or for growth.

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<v Speaker 5>I mean that's what big exact and that's why I

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<v Speaker 5>think you saw the reaction today so well as the

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<v Speaker 5>way to see. Remember he's still a new CEO, so

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<v Speaker 5>he's got some time for a turnaround. But we've been

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<v Speaker 5>saying that about the last two CEOs as well. I

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<v Speaker 5>think it's fair to say, Hey, also, Charter Communication, this

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<v Speaker 5>was the worst performer in the S and P five

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<v Speaker 5>hundre today had its worst single day ever, down eighteen

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<v Speaker 5>and a half percent. This after the company said it

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<v Speaker 5>lost one hundred and eleven thousand residential high speed internet

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<v Speaker 5>customers in the quarter that ended at the end of June.

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<v Speaker 5>It was more than analysts had predicted. They're facing pressure

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<v Speaker 5>from the rise of five G from mobile companies and

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<v Speaker 5>also fiber home internet offerings as well. And finally taking

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<v Speaker 5>a look at Pinnacle Financial Partners down twelve percent along

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<v Speaker 5>with Sonovas down twelve and a half percent, this after

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<v Speaker 5>the companies agreed to an all stock transaction valued at

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<v Speaker 5>eight point six billion dollars. It'll combine these two banks

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<v Speaker 5>in the US Southeastern market. But investors not liking the

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<v Speaker 5>looks of this, at least today.

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<v Speaker 1>All right, let's take a quick look at yield. We

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<v Speaker 1>did actually see some movement. They are relatively modest movement,

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<v Speaker 1>to be sure, but to the downside, basically about a

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<v Speaker 1>one basis point across the board here. And it gets

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<v Speaker 1>to this idea of us a little bit of stasis

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<v Speaker 1>right now going on in the yield spaces. Everyone really

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<v Speaker 1>tries to game out, guys, where we go next with rates,

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<v Speaker 1>particularly in light of all the pressure the White House

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<v Speaker 1>on Jay Powell, which we all were here live on Area.

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<v Speaker 4>Yesterday, sometimes with harthads, sometimes without.

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<v Speaker 1>Well, the hardhats just was like, I mean, Chef's Kiss.

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<v Speaker 1>I mean, honestly, that's the best television we've had.

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<v Speaker 3>Ye that moment in time is just like seared. Yeah.

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