Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market. Harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis, keeping an
Speaker 1: eye on earnings this morning. Not just in tech, but
Speaker 1: we got results from a couple of retail names. I
Speaker 1: want to call them Burlington Code Factory, but I know
Speaker 1: they're called Burlington Stores.
Speaker 3: How they do this morning, Dan, Good morning, Good morning, Nathan.
Speaker 3: That's right, Burlington Stores TICK or b U r L.
Speaker 3: Those shares are down about two and a half percent
Speaker 3: in pre market after earnings. I will put a bit
Speaker 3: of a caveat in that one. Trading has been relatively light.
Speaker 4: We've gone a few trades since the earnings came out,
Speaker 4: but the markets are still digesting that. So we're looking
Speaker 4: for those shares to bounce around a bit in the
Speaker 4: pre market. However, first quarter top and bottom line beat estimates.
Speaker 4: The company is boosting it's adjusted earnings per share outlook
Speaker 4: for the year. It sees a low end range of
Speaker 4: a dollar forty five near which is around estimates top
Speaker 4: end well above estimates. However, comparable sales for this year
Speaker 4: two to four percent. Wall Street was looking for a
Speaker 4: little bit more around three point two percent. So the
Speaker 4: comparable sales growth this year looks a little bit light
Speaker 4: when looking at that midpoint, well, it looks.
Speaker 1: Like we're seeing a lot more volume for Dollar Tree
Speaker 1: after their results. This stock is soaring pre market.
Speaker 4: Oh yeah, up ten percent as the discount retail store
Speaker 4: posted first quarter net sales that meet estimates. Earnings came
Speaker 4: out ahead of what Wall Street was looking for. Second
Speaker 4: quarter guidance was stronger than Wall Street was expecting, and
Speaker 4: the company is raising its full year adjusted EPs outlook
Speaker 4: while maintaining net sales forecast. Dollar Tree is looking to
Speaker 4: continue to expand, so in the past quarter it added
Speaker 4: one hundred and thirteen news stores. It plans to add
Speaker 4: four hundred for the entire year. So dltr up over
Speaker 4: ten percent in pre market. They are investors are welcoming
Speaker 4: that news.
Speaker 1: Well, as if ten percent gain warn't enough, We've got
Speaker 1: to talk about Snowflake. This this stock is just off
Speaker 1: the chain this morning.
Speaker 4: Absolutely, it is just absolutely up in the sky. Snowflake
Speaker 4: is a software company and it is giving stronger than
Speaker 4: expected outlook for the current fiscal year. That has shares
Speaker 4: up thirty six percent in pre market under ticker snow
Speaker 4: snow company also announced a six billion dollar multi year
Speaker 4: agreement to use Amazon's cloud services and chips and Snowflake.
Speaker 4: Snowflake is seeing increased demand for its main data products.
Speaker 4: It has developed AI focused tools to push back against
Speaker 4: you know, kind of this AI is going to kill
Speaker 4: software theme that we've been reading about a lot. It
Speaker 4: has customers using AI assisted coding tools and the number
Speaker 4: of clients doing that has doubled from the past quarter.
Speaker 4: So as it weaves AI into it software, it is
Speaker 4: definitely seeing a strong response from clients on that front.
Speaker 1: Well, it was, of course another side of the coin
Speaker 1: to the software story.
Speaker 4: Salesforce doing sahat yeah again. AI adoption is playing out here.
Speaker 4: Salesforce is down about one percent in the pre market
Speaker 4: tick or CRM. The company is forecasting revenue for the
Speaker 4: current period of eleven point three billion dollars and that
Speaker 4: is shy of Wall Street estimates. That's unnerving investors concerned
Speaker 4: about AI disruption. It beat first quarter top and bottom
Speaker 4: line estimates, but remaining performance obligations, and that's a measure
Speaker 4: of future sales with slightly below estimates reinforcing concerns over
Speaker 4: the outlook. So a lot of this is coming down
Speaker 4: to how well are these software companies integrating AI. Are
Speaker 4: they able to monetize it? And that is the concern
Speaker 4: around Salesforce. Salesforce has been promoting its own AI tool,
Speaker 4: it's called Agent Force. The company says it's on track
Speaker 4: to contribute one point two billion dollars to the in
Speaker 4: fiscal revenue this year, but still not quite what investors we're.
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