WEBVTT - Burlington Lower; Dollar Tree and Snowflake Jump

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg Data.

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg's Dan Curtis, keeping an

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<v Speaker 1>eye on earnings this morning. Not just in tech, but

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<v Speaker 1>we got results from a couple of retail names. I

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<v Speaker 1>want to call them Burlington Code Factory, but I know

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<v Speaker 1>they're called Burlington Stores.

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<v Speaker 3>How they do this morning, Dan, Good morning, Good morning, Nathan.

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<v Speaker 3>That's right, Burlington Stores TICK or b U r L.

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<v Speaker 3>Those shares are down about two and a half percent

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<v Speaker 3>in pre market after earnings. I will put a bit

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<v Speaker 3>of a caveat in that one. Trading has been relatively light.

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<v Speaker 4>We've gone a few trades since the earnings came out,

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<v Speaker 4>but the markets are still digesting that. So we're looking

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<v Speaker 4>for those shares to bounce around a bit in the

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<v Speaker 4>pre market. However, first quarter top and bottom line beat estimates.

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<v Speaker 4>The company is boosting it's adjusted earnings per share outlook

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<v Speaker 4>for the year. It sees a low end range of

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<v Speaker 4>a dollar forty five near which is around estimates top

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<v Speaker 4>end well above estimates. However, comparable sales for this year

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<v Speaker 4>two to four percent. Wall Street was looking for a

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<v Speaker 4>little bit more around three point two percent. So the

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<v Speaker 4>comparable sales growth this year looks a little bit light

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<v Speaker 4>when looking at that midpoint, well, it looks.

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<v Speaker 1>Like we're seeing a lot more volume for Dollar Tree

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<v Speaker 1>after their results. This stock is soaring pre market.

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<v Speaker 4>Oh yeah, up ten percent as the discount retail store

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<v Speaker 4>posted first quarter net sales that meet estimates. Earnings came

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<v Speaker 4>out ahead of what Wall Street was looking for. Second

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<v Speaker 4>quarter guidance was stronger than Wall Street was expecting, and

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<v Speaker 4>the company is raising its full year adjusted EPs outlook

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<v Speaker 4>while maintaining net sales forecast. Dollar Tree is looking to

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<v Speaker 4>continue to expand, so in the past quarter it added

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<v Speaker 4>one hundred and thirteen news stores. It plans to add

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<v Speaker 4>four hundred for the entire year. So dltr up over

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<v Speaker 4>ten percent in pre market. They are investors are welcoming

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<v Speaker 4>that news.

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<v Speaker 1>Well, as if ten percent gain warn't enough, We've got

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<v Speaker 1>to talk about Snowflake. This this stock is just off

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<v Speaker 1>the chain this morning.

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<v Speaker 4>Absolutely, it is just absolutely up in the sky. Snowflake

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<v Speaker 4>is a software company and it is giving stronger than

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<v Speaker 4>expected outlook for the current fiscal year. That has shares

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<v Speaker 4>up thirty six percent in pre market under ticker snow

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<v Speaker 4>snow company also announced a six billion dollar multi year

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<v Speaker 4>agreement to use Amazon's cloud services and chips and Snowflake.

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<v Speaker 4>Snowflake is seeing increased demand for its main data products.

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<v Speaker 4>It has developed AI focused tools to push back against

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<v Speaker 4>you know, kind of this AI is going to kill

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<v Speaker 4>software theme that we've been reading about a lot. It

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<v Speaker 4>has customers using AI assisted coding tools and the number

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<v Speaker 4>of clients doing that has doubled from the past quarter.

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<v Speaker 4>So as it weaves AI into it software, it is

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<v Speaker 4>definitely seeing a strong response from clients on that front.

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<v Speaker 1>Well, it was, of course another side of the coin

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<v Speaker 1>to the software story.

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<v Speaker 4>Salesforce doing sahat yeah again. AI adoption is playing out here.

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<v Speaker 4>Salesforce is down about one percent in the pre market

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<v Speaker 4>tick or CRM. The company is forecasting revenue for the

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<v Speaker 4>current period of eleven point three billion dollars and that

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<v Speaker 4>is shy of Wall Street estimates. That's unnerving investors concerned

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<v Speaker 4>about AI disruption. It beat first quarter top and bottom

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<v Speaker 4>line estimates, but remaining performance obligations, and that's a measure

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<v Speaker 4>of future sales with slightly below estimates reinforcing concerns over

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<v Speaker 4>the outlook. So a lot of this is coming down

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<v Speaker 4>to how well are these software companies integrating AI. Are

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<v Speaker 4>they able to monetize it? And that is the concern

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<v Speaker 4>around Salesforce. Salesforce has been promoting its own AI tool,

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<v Speaker 4>it's called Agent Force. The company says it's on track

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<v Speaker 4>to contribute one point two billion dollars to the in

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<v Speaker 4>fiscal revenue this year, but still not quite what investors we're.

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<v Speaker 2>Looking for this stock Movers report from Bloomberg Radio. Check

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