1
00:00:02,520 --> 00:00:09,960
Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report,

2
00:00:10,280 --> 00:00:13,440
Speaker 1: your roundup of companies making moves in the stock market,

3
00:00:13,680 --> 00:00:15,880
Speaker 1: harnessing the power of Bloomberg data.

4
00:00:16,480 --> 00:00:19,119
Speaker 2: Let's take a look right now at some stocks they're

5
00:00:19,120 --> 00:00:19,960
Speaker 2: on the move today.

6
00:00:20,520 --> 00:00:22,440
Speaker 3: I'm Tom King with me, Paul Sweeney and.

7
00:00:22,360 --> 00:00:29,360
Speaker 1: Bloomberg's lease some Matale post her twelfth breakfast. Hydrated. She's hydrated.

8
00:00:29,440 --> 00:00:31,480
Speaker 1: You know, that's all there is to it, Stock movers,

9
00:00:31,480 --> 00:00:31,920
Speaker 1: what do you have?

10
00:00:32,400 --> 00:00:32,720
Speaker 3: All right?

11
00:00:32,760 --> 00:00:35,440
Speaker 2: I wanted to go retail, all right, We'll start with Macy's.

12
00:00:35,720 --> 00:00:38,400
Speaker 2: Their shares are improving, they were lower another rising as

13
00:00:38,479 --> 00:00:41,920
Speaker 2: much as three percent. The way people shop right is changing.

14
00:00:41,960 --> 00:00:43,639
Speaker 2: A lot of people are heading to Amazon. You get

15
00:00:43,680 --> 00:00:46,720
Speaker 2: your luxury stuff online. So things are starting to change.

16
00:00:46,720 --> 00:00:50,040
Speaker 2: So Macy's had to change. So they changed their strategy.

17
00:00:50,080 --> 00:00:53,199
Speaker 2: They want to focus on the best performing locations. They

18
00:00:53,240 --> 00:00:56,480
Speaker 2: improve this staffing there, they improved you know, the displays there,

19
00:00:56,920 --> 00:00:58,240
Speaker 2: and it looks like that.

20
00:00:58,280 --> 00:00:59,760
Speaker 3: Is starting to work for them.

21
00:01:00,000 --> 00:01:03,320
Speaker 2: Better than expected quarterly results. Comparable sales fell less and

22
00:01:03,320 --> 00:01:06,759
Speaker 2: expected they did rise. Oh at Bloomingdale's and bloom Mercury.

23
00:01:06,800 --> 00:01:11,399
Speaker 2: Those are their higher end chains. Revenue top estimates maintained

24
00:01:11,400 --> 00:01:13,720
Speaker 2: its sales out look for the current year, despite terris

25
00:01:13,800 --> 00:01:17,760
Speaker 2: moderation and consumer discretionary spending, rising competition. Despite all that,

26
00:01:17,800 --> 00:01:20,200
Speaker 2: they're still right up rising above.

27
00:01:20,200 --> 00:01:22,000
Speaker 3: Ninety four thousand employees.

28
00:01:22,080 --> 00:01:22,240
Speaker 1: Yep.

29
00:01:22,400 --> 00:01:24,240
Speaker 3: It's not a small venture.

30
00:01:23,959 --> 00:01:25,240
Speaker 1: Now, it's it's still big.

31
00:01:25,880 --> 00:01:29,800
Speaker 3: But again, the poperstore business, it's been, you know, been

32
00:01:29,800 --> 00:01:32,360
Speaker 3: in an evolution for the last thirty years, I would

33
00:01:32,360 --> 00:01:34,600
Speaker 3: say twenty years. We said Nordstrom private.

34
00:01:34,680 --> 00:01:37,920
Speaker 2: Here the Mexicans took out NORDSTROMLNT yet five six eight

35
00:01:38,319 --> 00:01:43,440
Speaker 2: days ago. Ten year total return m ye negative twelve

36
00:01:43,560 --> 00:01:44,600
Speaker 2: percent per year.

37
00:01:44,720 --> 00:01:44,880
Speaker 1: Yep.

38
00:01:45,200 --> 00:01:47,160
Speaker 2: Yeah, And they say what really helps them is their

39
00:01:47,360 --> 00:01:49,560
Speaker 2: range because they have the off price, you know, they're

40
00:01:49,640 --> 00:01:51,520
Speaker 2: less expensive, and then they have the luxury too, so

41
00:01:51,520 --> 00:01:53,360
Speaker 2: they have a little bit of both, which actually helps

42
00:01:53,400 --> 00:01:55,480
Speaker 2: them out give them a little bit of flexibility. Next,

43
00:01:56,040 --> 00:01:59,880
Speaker 2: Abercrombie and Fitch up as much as thirty three percent

44
00:02:00,080 --> 00:02:03,280
Speaker 2: this morning. It's wild upped its full year outlook. It's

45
00:02:03,280 --> 00:02:05,040
Speaker 2: he's full of your net sales growth of three to

46
00:02:05,080 --> 00:02:08,520
Speaker 2: six percent, and this included about fifty million dollars of

47
00:02:08,639 --> 00:02:09,760
Speaker 2: tariff expenses.

48
00:02:10,240 --> 00:02:10,720
Speaker 3: Here's the thing.

49
00:02:10,760 --> 00:02:14,040
Speaker 2: Abercrombie, it's been reducing its exposure to China in recent years,

50
00:02:14,160 --> 00:02:17,960
Speaker 2: Vietnam it's top vendor. That's followed by Cambodia and India.

51
00:02:18,800 --> 00:02:22,320
Speaker 2: What really helped was the Hollister brand. Comparable sales were

52
00:02:22,360 --> 00:02:26,880
Speaker 2: up twenty three percent, way past expectations. The fashion mix

53
00:02:26,919 --> 00:02:29,799
Speaker 2: has drawn in this broader audience. I mean, I had

54
00:02:29,840 --> 00:02:32,560
Speaker 2: to update my genes, so I went there.

55
00:02:32,880 --> 00:02:34,520
Speaker 3: She said, the skinny jeans are out.

56
00:02:34,560 --> 00:02:34,800
Speaker 1: Mom.

57
00:02:34,880 --> 00:02:37,000
Speaker 3: You gotta get with the times and you have to

58
00:02:37,120 --> 00:02:38,560
Speaker 3: update it. So we went there.

59
00:02:39,080 --> 00:02:41,120
Speaker 2: Mom got some new genes, and of course since I

60
00:02:41,280 --> 00:02:43,000
Speaker 2: went there, I had to get her a couple of rights.

61
00:02:43,160 --> 00:02:45,519
Speaker 3: But there's still more expensive than that. They're a little

62
00:02:45,520 --> 00:02:47,720
Speaker 3: bit pricier. They are. They are a little bit pricier,

63
00:02:48,760 --> 00:02:51,000
Speaker 3: but they last. I just have to say that. But

64
00:02:51,400 --> 00:02:53,840
Speaker 3: their shares have been crazy sky rapping this morning.

65
00:02:54,120 --> 00:02:56,640
Speaker 2: Awesome good stuff. So we go from retail, we'll take

66
00:02:56,680 --> 00:02:59,480
Speaker 2: you over to tech, We'll go to cybersecurity company. OCTA

67
00:03:00,120 --> 00:03:02,600
Speaker 2: shares have been lower down as much as eleven percent

68
00:03:02,720 --> 00:03:05,919
Speaker 2: this weeker than expected outlook for the second quarter. ANALYSS

69
00:03:05,919 --> 00:03:08,040
Speaker 2: just thought, you know what, it was too conservative.

70
00:03:08,240 --> 00:03:09,000
Speaker 3: Here's the thing though.

71
00:03:09,000 --> 00:03:11,000
Speaker 2: They also said they're going to cut about three percent

72
00:03:11,040 --> 00:03:13,040
Speaker 2: of its workforce about one.

73
00:03:13,000 --> 00:03:14,320
Speaker 3: Hundred and eighty workers.

74
00:03:14,720 --> 00:03:16,840
Speaker 2: They said they want to give more of their resources

75
00:03:16,880 --> 00:03:19,600
Speaker 2: to priorities that will drive growth. So we've seen this

76
00:03:19,600 --> 00:03:22,320
Speaker 2: with a few companies starting to cut back on their workers.

77
00:03:22,800 --> 00:03:24,320
Speaker 3: And then finally, I want to take you to.

78
00:03:24,480 --> 00:03:28,560
Speaker 2: Veil Resorts, Paul, you're my skiingy Okay shares have been

79
00:03:28,840 --> 00:03:30,200
Speaker 2: up as much as twelve percent.

80
00:03:30,400 --> 00:03:31,680
Speaker 3: They really had a tough winter.

81
00:03:31,760 --> 00:03:36,480
Speaker 2: They're basing Colorado Roomfield, Colorado season. To date, Skier visits

82
00:03:36,600 --> 00:03:39,160
Speaker 2: down about three point one percent from a year earlier,

83
00:03:39,200 --> 00:03:42,600
Speaker 2: so fewer people going. They'll shares have actually fallen nineteen

84
00:03:42,680 --> 00:03:45,360
Speaker 2: percent this year. But the big reason why the shares

85
00:03:45,360 --> 00:03:46,880
Speaker 2: are uptive is because you know what they said. They're

86
00:03:46,920 --> 00:03:50,120
Speaker 2: going to bring back their former chief executive, Robcats. He's

87
00:03:50,160 --> 00:03:53,040
Speaker 2: going to lead the company again. He's replacing Kirsten Lynch

88
00:03:53,040 --> 00:03:56,200
Speaker 2: who stepped down. She's going to remain in that leaving

89
00:03:56,200 --> 00:03:58,200
Speaker 2: the board, but it will also stay in that advisory

90
00:03:58,280 --> 00:04:00,840
Speaker 2: role on top of it. So that kind of is

91
00:04:00,880 --> 00:04:01,960
Speaker 2: what sprunt investors.

92
00:04:01,960 --> 00:04:02,680
Speaker 3: They like that news.

93
00:04:03,920 --> 00:04:08,160
Speaker 1: The Stockmover's report from Bloomberg Radio. Check back with us

94
00:04:08,160 --> 00:04:10,960
Speaker 1: throughout the day for the latest roundup of companies making

95
00:04:11,040 --> 00:04:14,640
Speaker 1: news on Wall Street and for the latest market moving headlines.

96
00:04:14,880 --> 00:04:18,880
Speaker 1: Listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg

97
00:04:18,920 --> 00:04:22,000
Speaker 1: dot com, and on Applecarplay and Android Auto with the

98
00:04:22,040 --> 00:04:23,400
Speaker 1: Bloomberg Business app.