WEBVTT - Apple Moves Higher; Estee Lauder Climbs

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>All right, just take a look at some of the

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<v Speaker 2>stocks on the move today.

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<v Speaker 3>Paul Sweeney alongside Alexis Christophers, and we're joined by bloombergs

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<v Speaker 3>John Tucker, John, what do you got for us here?

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<v Speaker 2>All right? We have to start with Apple. You know,

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<v Speaker 2>since the start of the year, the stock has been

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<v Speaker 2>down actually something like one percent. A lot of criticism

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<v Speaker 2>of the company for not embracing artificial intelligence to the

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<v Speaker 2>extent that investors think they should. Apple delivering pretty strong

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<v Speaker 2>revenue forecast for the third quarter. It were that memory

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<v Speaker 2>chip costs also that that's going to increase. Shortages of

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<v Speaker 2>Mac computer is going to persist for several months. Still,

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<v Speaker 2>those shares they were higher. The company said sales going

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<v Speaker 2>to rise fourteen to seventeen percent in the period. The

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<v Speaker 2>outlook does look pretty good at both pretty all. For

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<v Speaker 2>the incoming CEO is going to take over for Tim

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<v Speaker 2>Cook on September one, John Turnis. Turners appear briefly on

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<v Speaker 2>the conference goal saying he would maintain Cook's thoughtfulness, deliberateness

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<v Speaker 2>and discipline as CEO of Apple when he does take

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<v Speaker 2>over at.

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<v Speaker 3>One more quarter with Tim Cook as overseeing right now,

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<v Speaker 3>one more earnings call with Tim Cook is really how

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<v Speaker 3>and then of course that their developers conference in June

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<v Speaker 3>going to be the next big thing we're all looking at.

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<v Speaker 3>S Day Lauder. More news coming out of the Fragrance Giant.

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<v Speaker 2>Yeah, cutting as many as three thousand more jobs are

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<v Speaker 2>going to generate a further two hundred million dollars of

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<v Speaker 2>savings to help boost their turnaround plans. So investors like it,

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<v Speaker 2>even though it's bad news at least for the employees.

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<v Speaker 2>The owner of Ordinary Brands among others, said this morning

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<v Speaker 2>as many as ten thousand rolls will now go off

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<v Speaker 2>from the previous target of seven thousand announced a year ago.

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<v Speaker 2>I'll looked it up on the Bloomberg Este latter actually

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<v Speaker 2>has a global workforce of fifty seven thousand.

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<v Speaker 3>Wow.

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<v Speaker 2>So they're trying to overhaul the knglimer. They've had three

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<v Speaker 2>years of annual sales drops there and with the latest

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<v Speaker 2>cuts have as much as one point two billion dollars

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<v Speaker 2>in savings before taxes to invest in. I guess revamp

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<v Speaker 2>the company salesman. In particular in the US, they've been

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<v Speaker 2>flat Stilauters struggled on home turf because tough competition from

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<v Speaker 2>all the other cosmetics startups.

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<v Speaker 3>And they didn't really mention the pooge push.

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<v Speaker 2>Well, yeah, I mean that's part of the going forward,

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<v Speaker 2>the acquisition and the plans to turn this puppy around

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<v Speaker 2>from Spain.

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<v Speaker 1>Auto with the Bloomberg Business app. Mm hmm