WEBVTT - Intel Sinks, Zebra Technologies Climbs, Under Armour Drops

0:00:02.520 --> 0:00:07.000
<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

0:00:08.560 --> 0:00:12.440
<v Speaker 2>The Stock Movers Report, your roundup of companies making moves

0:00:12.480 --> 0:00:16.600
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.760 --> 0:00:19.239
<v Speaker 3>I'm Carl Masser along with Tim Stanevic. Let's get to

0:00:19.360 --> 0:00:22.079
<v Speaker 3>some stocks on the move. You're watching Intel the socks

0:00:22.280 --> 0:00:24.799
<v Speaker 3>quite a reversal in today's session from what we've seen

0:00:24.880 --> 0:00:25.400
<v Speaker 3>as of late.

0:00:25.560 --> 0:00:27.360
<v Speaker 1>Yeah, that's right. She here's an Intel right now, down

0:00:27.400 --> 0:00:30.480
<v Speaker 1>by about nine percent. It's not just Intel. You got

0:00:30.560 --> 0:00:33.240
<v Speaker 1>Qualcom taking it hit, you got Micron down, you got

0:00:33.280 --> 0:00:38.320
<v Speaker 1>AMD lower today. Semiconductor power equipment, memory chip firms, they're

0:00:38.400 --> 0:00:41.440
<v Speaker 1>falling today. There's a little cooling of the AI rally

0:00:41.479 --> 0:00:44.080
<v Speaker 1>that we're seeing a lot of new of these chip stocks, though,

0:00:44.120 --> 0:00:46.440
<v Speaker 1>have been going to new all time highs as the

0:00:46.440 --> 0:00:50.440
<v Speaker 1>sector has been boosted by continued investor enthusiasm over AI

0:00:50.520 --> 0:00:55.160
<v Speaker 1>infrastructure buildouts. Intel, for its part, it's just off of

0:00:55.280 --> 0:00:58.360
<v Speaker 1>all time highs up this year close to two hundred

0:00:58.720 --> 0:01:01.640
<v Speaker 1>and twenty percent. There's also a great story Carol on

0:01:01.720 --> 0:01:05.640
<v Speaker 1>the Bloomberg terminal today about how this rally four hundred

0:01:05.680 --> 0:01:08.840
<v Speaker 1>and forty billion dollars in just six weeks. Yeah, as

0:01:08.920 --> 0:01:10.240
<v Speaker 1>short seller circling right now.

0:01:10.280 --> 0:01:13.520
<v Speaker 3>I be they are. The problem is if it continues

0:01:13.520 --> 0:01:14.880
<v Speaker 3>to turn eye or they're going to have to cover

0:01:14.959 --> 0:01:17.360
<v Speaker 3>their shorts because that can be a painful trade. But

0:01:17.520 --> 0:01:20.400
<v Speaker 3>we shall see, because many would say that after the

0:01:20.480 --> 0:01:22.399
<v Speaker 3>run up, you might want to see a little bit

0:01:22.400 --> 0:01:25.760
<v Speaker 3>of the air come out of the marketplace. Hey, I'm

0:01:25.800 --> 0:01:28.120
<v Speaker 3>going to go over onto something we don't talk a

0:01:28.160 --> 0:01:30.560
<v Speaker 3>lot about, but it's the number one gainer in the

0:01:30.680 --> 0:01:33.920
<v Speaker 3>S and P five hundred. We're talking about Zebra Technologies

0:01:34.000 --> 0:01:37.720
<v Speaker 3>that stock up about twelve twelve and a half percent here,

0:01:38.200 --> 0:01:42.600
<v Speaker 3>barcode scanners, printers, interactive kiosks. That's what this company makes.

0:01:42.600 --> 0:01:45.840
<v Speaker 3>It's an consumer electronics company. It did report first quarter

0:01:45.840 --> 0:01:48.320
<v Speaker 3>results that beat expectations. The company raised its full or

0:01:48.400 --> 0:01:51.760
<v Speaker 3>forecast for both adjusted earnings and free cash flow. It's

0:01:51.800 --> 0:01:54.400
<v Speaker 3>about eleven point eight billion dollar market cab company, like

0:01:54.440 --> 0:01:56.920
<v Speaker 3>I said, not one that we talk about a lot,

0:01:56.960 --> 0:02:00.680
<v Speaker 3>but nonetheless, investors are running into it in today's session.

0:02:00.560 --> 0:02:03.800
<v Speaker 1>Investors running out of under Armour. Shares of under Armour

0:02:03.920 --> 0:02:07.520
<v Speaker 1>taking a hit in today's trade, down seventeen point four

0:02:07.640 --> 0:02:11.000
<v Speaker 1>percent right now. This after the company released guidance for

0:02:11.040 --> 0:02:13.920
<v Speaker 1>this year that missed Wall Street projections. Remember there's that

0:02:14.160 --> 0:02:18.040
<v Speaker 1>exiting of that partnership with NBA star Steph Curry. Financial

0:02:18.160 --> 0:02:23.440
<v Speaker 1>Hit two also Carol the financial hit coming from the war. Yeah,

0:02:23.520 --> 0:02:25.760
<v Speaker 1>a good check on the consumer as well. But this

0:02:25.880 --> 0:02:28.280
<v Speaker 1>is a company that's in the midst of a turnaround

0:02:28.360 --> 0:02:30.959
<v Speaker 1>right now, so this is also just a check of

0:02:31.040 --> 0:02:32.919
<v Speaker 1>how that turnaround is going now. Right.

0:02:32.960 --> 0:02:35.560
<v Speaker 3>There are some that it's macro related, there are some

0:02:35.680 --> 0:02:38.040
<v Speaker 3>that it's specific to a company, and I think that's

0:02:38.080 --> 0:02:41.480
<v Speaker 3>a really good point in general what we are seeing,

0:02:41.680 --> 0:02:43.359
<v Speaker 3>certainly from some of the companies, and I think about

0:02:43.360 --> 0:02:46.239
<v Speaker 3>the inflation data that we got out, even though our

0:02:46.280 --> 0:02:50.200
<v Speaker 3>STU Paul said that, you know, not necessarily he's going

0:02:50.240 --> 0:02:52.840
<v Speaker 3>to go into the camp of a hot hot print,

0:02:52.919 --> 0:02:56.480
<v Speaker 3>but nonetheless, for some consumers the rise and energy prices,

0:02:56.480 --> 0:02:59.720
<v Speaker 3>and energy makes its way through so many different products.

0:03:00.040 --> 0:03:04.280
<v Speaker 3>I also read about the supply chain for semiconductors and yes,

0:03:04.720 --> 0:03:08.359
<v Speaker 3>you know the AI grab and demand, it's other pieces

0:03:08.360 --> 0:03:11.520
<v Speaker 3>that are also in demand, and that has just raised

0:03:11.560 --> 0:03:15.160
<v Speaker 3>prices for all of those similar products that go into

0:03:15.639 --> 0:03:19.320
<v Speaker 3>consumer electronics and different consumer products. So consumers kind of

0:03:19.320 --> 0:03:20.959
<v Speaker 3>getting hit on a lot of different levels.

0:03:20.960 --> 0:03:23.919
<v Speaker 1>Well, we spoked spoke to Denise Balana's yesterday over at

0:03:23.960 --> 0:03:26.400
<v Speaker 1>Sally Beauty, and those shares took a hit after she

0:03:26.560 --> 0:03:30.600
<v Speaker 1>reported earnings yesterday. And I think one of the challenges

0:03:30.600 --> 0:03:33.320
<v Speaker 1>that she highlighted, at least for US Carol, was that

0:03:33.720 --> 0:03:37.120
<v Speaker 1>they serve a lower end consumer. Those lower end consumers, yeah,

0:03:37.160 --> 0:03:39.080
<v Speaker 1>are the ones who are getting hit hardest by an

0:03:39.080 --> 0:03:41.680
<v Speaker 1>increase in energy costs. So you know, that share of

0:03:41.720 --> 0:03:44.240
<v Speaker 1>what they spend on those things light gas is a

0:03:44.240 --> 0:03:47.360
<v Speaker 1>lot higher than wealthier Americans, So they're going to have

0:03:47.400 --> 0:03:49.560
<v Speaker 1>to pick and choose as a result of those higher prices.

0:03:49.640 --> 0:03:51.200
<v Speaker 3>Yeah, And I think it's safe to say that some

0:03:51.240 --> 0:03:54.520
<v Speaker 3>of those consumers right whether don't have much of a pad,

0:03:54.520 --> 0:03:57.800
<v Speaker 3>a financial pad, so any of these increases they feel

0:03:57.800 --> 0:03:59.960
<v Speaker 3>it right away. So certainly something we're keeping a won.

0:04:01.720 --> 0:04:05.920
<v Speaker 2>The Stockmover's report from Bloomberg Radio. Check back with us

0:04:06.000 --> 0:04:08.800
<v Speaker 2>throughout the day for the latest roundup of companies making

0:04:08.840 --> 0:04:12.480
<v Speaker 2>news on Wall Street and for the latest market moving headlines.

0:04:12.680 --> 0:04:16.680
<v Speaker 2>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:04:16.720 --> 0:04:19.800
<v Speaker 2>dot com, and on Applecarplay and Android Auto with the

0:04:19.839 --> 0:04:21.200
<v Speaker 2>Bloomberg Business app.