Stock Movers

On this episode of Stock Movers:

- HP Enterprise (HPE) shares rose after the company released earnings that expected narrower profit margins as it enters the next leg of AI-driven demand. 3Q net revenue at $9.14 billion beating estimates; 4Q adjusted EPS of 56c to 60c in line with forecasts.
- C3 AI (AI) shares slumped after the software company forecast revenue for the second quarter that missed the average analyst estimate. It also named Stephen Ehikian as its new CEO, replacing founder Tom Siebel, who will remain executive chairman.
- American Eagle (AEO) shares surged after the company reported higher-than-expected quarterly sales and cited the success of its marketing campaign featuring Sydney Sweeney. Shortly after news of Kelce’s engagement to pop star and billionaire Taylor Swift broke, American Eagle announced a collaboration with his brand Tru Kolors.

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On this episode of Stock Movers:
- Salesforce (CRM) sales have declined after projected quarterly sales growth that was lackluster, suggesting its artificial intelligence product isn’t yet paying off as quickly as hoped. The company's shares fell before markets opened in New York, as investors have been anxious that incumbent software makers will be outshined by new AI-based vendors.
- American Eagle (AEO) shares are higher after the clothing retailer reported better-than-expected 2Q revenue, boosted by demand following its Sydney Sweeney ad campaign. It also gave comparable sales guidance for fiscal 2025.
- Goldman Sachs (GS) will invest as much as $1 billion in T. Rowe Price Group Inc. and team up with the asset manager to sell private-market products to retail investors. The companies will collaborate on a range of investments for retirement savers and wealthy investors, with Goldman making a series of open-market purchases to amass up to 3.5% of T. Rowe’s stock. The partnership is part of a broader trend of financial firms competing to win over wealthy Americans and those with 401(k) plans with private equity, credit and infrastructure strategies.

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On this episode of Stock Movers:
- Salesforce (CRM) sales have declined after projected quarterly sales growth that was lackluster, suggesting its artificial intelligence product isn’t yet paying off as quickly as hoped. The company's shares fell before markets opened in New York, as investors have been anxious that incumbent software makers will be outshined by new AI-based vendors.
- Hewlett Packard (HPE) shares are higher after it gave a profit outlook for the current quarter that was in line with expectations, with earnings excluding some items expected to be 87 cents to 97 cents a share. HPE has adjusted to use manufacturing facilities outside of China for almost all of its products sold in North America to cope with the effects of tariffs, and the company has increased some prices.
- American Eagle (AEO) shares are higher after the clothing retailer reported better-than-expected 2Q revenue, boosted by demand following its Sydney Sweeney ad campaign. It also gave comparable sales guidance for fiscal 2025.

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On this episode of Stock Movers:
- Sanofi’s experimental drug for the skin condition atopic dermatitis disappointed investors in a late stage trial, after the benefit of the drug was less than expected.
- Jet2 fell 25%. Trading volume was six times the average for this time of day. The stock reversed the previous session's gain.
- A year after losing its spot in Britain’s blue-chip benchmark, Burberry is returning to the UK’s stock-market elite. The luxury-goods maker, best known for its tartan-plaid trench coats, will rejoin the FTSE 100 Index later this month, index compiler FTSE Russell said Wednesday.

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On this edition of Stock Movers:

- Alphabet (GOOGL) shares hit a record high after Google avoided a breakup after a US judge ruled against the government’s most onerous proposals, including a forced sale of its Chrome browser, another court victory for Big Tech in the biggest antitrust case in three decades. AI models represent a long-term threat to the search industry as chatbots and other generative AI technologies become more advanced and behave more like search engines, Judge Amit Mehta said on Tuesday. Still, the Alphabet Inc. company will have to make some concessions, including sharing online search data with rivals and ending exclusive contracts for distribution. “The emergence of GenAI changed the course of this case,” Mehta wrote in the judgment. The ruling represents a setback for the US government in its bid to curb the power of the biggest US tech companies, falling far short of the most severe remedies sought by antitrust enforcers. The finding follows the Washington-based judge’s ruling last year that Google illegally monopolized the markets for online search and search advertising. Mehta held a three-week hearing in April to determine a fix.

- Apple (APPL) shares are up today. The iPhone maker announced that they are planning to launch its own artificial intelligence-powered web search tool next year, stepping up competition with OpenAI and Perplexity AI Inc. The company is working on a new system — dubbed internally as World Knowledge Answers — that will be integrated into the Siri voice assistant, according to people with knowledge of the matter. Apple has discussed also eventually adding the technology to its Safari web browser and Spotlight, which is used to search from the iPhone home screen. Apple is aiming to release the service, described by some executives as an “answer engine,” in the spring as part of a long-delayed overhaul to Siri, said the people, who asked not to be identified because the plans haven’t been announced. The idea is to make Siri and Apple’s operating systems a place where users can look up information from across the internet — in a similar fashion to ChatGPT, AI Overviews in Google Search and a crop of new apps. The approach will rely on large language models, or LLMs, a key technology underpinning generative AI.

- Salesforce (CRM) shares fell after the company projected lackluster quarterly sales growth, suggesting its artificial intelligence product isn’t yet paying off as quickly as hoped amid competition from emerging AI companies. Revenue will be $10.2 billion to $10.3 billion in the period ending in October, the company said Wednesday in a statement. Analysts, on average, estimated $10.3 billion. Current remaining performance obligations, a measure of bookings, will increase “slightly above” 10%, in line with analysts’ average projections. Investors have been increasingly anxious that incumbent software makers will be outshined by new AI-based vendors. Companies like Salesforce, which make applications that are charged per user, have faced the steepest skepticism because of the view that AI will take over some of the tasks they provide and reduce the workforce of their customers.

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On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Salesforce (CRM) projected lackluster quarterly sales growth, suggesting its artificial intelligence product isn’t yet paying off as quickly as hoped amid competition from emerging AI companies. Revenue will be $10.2 billion to $10.3 billion in the period ending in October, the company said Wednesday in a statement. Analysts, on average, estimated $10.3 billion. Current remaining performance obligations, a measure of bookings, will increase “slightly above” 10%, in line with analysts’ average projections. Shares initially fell in aftermarket trading.

- Google parent Alphabet (GOOG) avoided a breakup after a US judge ruled against the government’s most onerous proposals, including a forced sale of its Chrome browser, another court victory for Big Tech in the biggest antitrust case in three decades. The shares jumped on the news yesterday and continued to rally today, hitting a record high.

- HP (HPE) gave a disappointing earnings forecast for the current period, renewing concerns about tightening margins in the server computer industry. Profit will be 56 cents to 60 cents a share in the October quarter, excluding some items, the company said in a statement Wednesday. The midpoint of that range was short of the 59 cents analysts had projected. HPE predicted sales of $9.7 billion to $10.1 billion, compared with an estimate at the top end of that range. Shares initially fell in afterhours trading.

See omnystudio.com/listener for privacy information.

On this edition of Stock Movers:

- Alphabet (GOOGL) shares jumped to a record high today after a US judge ruled against the government’s most onerous proposals, including a forced sale of its Chrome browser, another court victory for Big Tech in the biggest antitrust case in three decades. AI models represent a long-term threat to the search industry as chatbots and other generative AI technologies become more advanced and behave more like search engines, Judge Amit Mehta said on Tuesday. Still, the Alphabet Inc. company will have to make some concessions, including sharing online search data with rivals and ending exclusive contracts for distribution. “The emergence of GenAI changed the course of this case,” Mehta wrote in the judgment. The ruling represents a setback for the US government in its bid to curb the power of the biggest US tech companies, falling far short of the most severe remedies sought by antitrust enforcers. The finding follows the Washington-based judge’s ruling last year that Google illegally monopolized the markets for online search and search advertising. Mehta held a three-week hearing in April to determine a fix. 

- Tyson Foods (TSN) shares are down today. The company said its supply chain chief left the company after violating internal rules, marking the second senior executive departure for improper behavior in just over a year. Chief Supply Chain Officer Brady Stewart is departing the US meat giant after taking certain actions that violated its code of conduct, Springdale, Arkansas-based Tyson said in a statement late Tuesday. The company didn’t provide further details on his actions in the statement, and representatives didn’t immediately respond to a request for comment. Tyson also appointed Devin Cole, the head of its poultry business as chief operating officer, with the US meat giant signaling more management changes associated with its succession planning.

- Campbell's (CPB) shares rose today after the food company’s earnings beat estimates as Milano cookies helped its snacks business outperform. Adjusted earnings per share of 62 cents topped the 56-cent estimate. The Pepperidge Farm owner’s organic snack sales declined 2% in the quarter, less than half the rate analysts anticipated. “In cookies, we gained share as we grew consumption during the quarter, outperforming the category through successful innovation launches, most notably our Milano White Chocolate lineup” Chief Executive Officer Mick Beekhuizen said in a statement Wednesday.

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On this episode of Stock Movers:
- Constellation Brands (STZ) shares fall after the alcohol beverage company cut its fiscal 2026 guidance, citing weak consumer demand. President and CEO Bill Newlands noted a more pronounced decline in purchases of high-end beer among Hispanic consumers.
- Lululemon (LULU) shares rise as the company is embarking on a big marketing shift by getting athletes to pull the company out of a sales rut. Ambassadors include American tennis star Frances Tiafoe, who wore Lululemon apparel at the US Open.
- Tesla (TSLA) shares are up after 4 straight sessions of declines. Earlier this week, CEO Elon Musk tried to take the focus away from Tesla's car business and said the company will derive about 80% of its value from Optimus, the robot initiative he first touted four years ago.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Alphabet (GOOG) shares surge after a US judge ruled against the government's proposals to break up Google, including a forced sale of its Chrome browser, in the biggest antitrust case in three decades.
- Dollar Tree (DLTR) shares sink after the company announced that their profit for the current quarter would be little changed, which overshadowed the discount chain boosting its annual outlook.
- Campbell's (CPB) shares rise after the company reported earnings that beat estimates as Milano cookies helped its snacks business outperform.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
- Macy's (M) shares are getting a big bump from earnings. It raised its annual outlook and reported its best comparable sales growth in 12 quarters. The retailer now expects net sales of as much as $21.45 billion for the fiscal year and lifted its adjusted diluted EPS guidance. Despite the improved outlook, Macy's warned of a more cautious consumer in the second half of the year and quarterly revenue has fallen on an annual basis for 13 quarters in a row.
- Google (GOOG) shares are higher this morning after a court win yesterday. A US judge ruled against the government's proposals to break up Google, including a forced sale of its Chrome browser, in the biggest antitrust case in three decades. Google will have to make some concessions, including sharing online search data with rivals and ending exclusive contracts for distribution, according to the judge's ruling. The ruling is seen as a setback for the US government in its bid to curb the power of Big Tech companies, with Google's shares jumping and the company praising the decision for recognizing the impact of AI on the search industry.
- Starbucks (SBUX) shares are moving as it announces it will launch protein-boosted lattes and cold foam in the US and Canada on Sept. 29 as part of its menu modernization strategy.

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