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All right, I just take a look at some of the stocks on the move today. I'm Paul Sweeney alongside and Or Melinda, and we're joined by Bloomberg's Alexis Christopher. So, Alexis, what are you looking at? I'm looking at retail stocks because you know, we get the January retail sales report on Friday, same day as we get the jobs report. But I wanted to zone in on Best Buy because it's soaring eight percent here in the pre market. And this is even though sales and full year outlook disappointed.
In fact, they fell short of even low expectations. So what are investors focusing on here? Profit last quarter surprisingly rose above expectations, and even though the stock already had a relatively high dividendield, Best Buy lifted its quarterly dividend by one percent. CEO Corey Barry pointing out a few of the positives here in this report that investors seemed
to be clinging to. This morning, he said market share was at least flat despite the decline in holiday sales, comparable sales for the year returned to growth after three years of decline. So that's a big deal. And the company's advertising business was pretty strong. And I just want to also point out Target this morning looks like signs of a turnaround. There finally starting to yield some results. We've got Target up about three and a half percent.
It forecasts better than expected profit for the full year. It expects a small increase in comparable sales for the year and net sales to grow about two percent. We know it's been struggling, right with these and sales go.
I go to a Target. It's got everything.
I feel like, can I tell you, I can never find somebody on the floor, and I feel like I feel like the inventory just hasn't been where it needs to be.
Okay, that's fair.
So you're trying to refresh the stores, improve merchandise, use tech. Of course, who isn't all right. Let's get to pinterest. It was down thirty two percent this year, but it is rallying today. Activist investor Elliott Investment Management investing a billion dollars in Pinterest to help fund the company's efforts to buy back shares. Yeah. The latest repurchases will be carried out as part of a new three and a half billion dollar program authorized by pinterest board this morning.
Pinterest is also going to buy back as much as five hundred million dollars in additional shares from cash on hand. Are you guys on Pinterest? I try to be. It doesn't work for me. I don't understand it. I used to be on there all the time just for food recipes and whatnot. It is good for that, for that kind of stuff. Yeah, now there's what TikTok.
Yeah, I'm chatchipt.
But what's what's pin supposed to be? What's the same You're supposed to like a sematic board, you know, pin things too virtually, Okay, a fashion board. If you want to get profits, here you go. The thing is can you pays off Pinterest? I know that's a great question. I think it can link to other websites potentially if the person who posted the board has hyper linked it. That's where I hit the brick wall. I'm like, you know what, if I can't find out where to buy
this thing, I'm out. And that's where you're doing. I'm out. Pinterest also, by the way, just a reminder, it cut hundreds of jobs last month. It makes all of its revenue from advertising, and it said it was hurt by President Trump's tariffs. I mean you think about how would Pinterests be hurt by the tariffs. It does a lot with furniture, and because of those furniture, the tariffs hitting furniture, it said, you know, it was hurt. But pinterest today, by the way, up five and a half percent, and
I have time for one more mail. Okay. Battalion Oil. It may not have heard of this company, but the stock is up one hundred and thirty five percent this morning. It's a smaller US exploration and production company, has a
market cap of just under two hundred million. Highly sensitive to swings in crude prices, and we're seeing them spike, of course, so analysts are saying the move up, this big move up in Battalion Oil sort of reflects the expectations that any prolonged disruption near the Strait of Hormuz would tighten global supply and improve cash flow for companies like Battalion who get a lot of their revenue from shale.
The stockmover's report from Bloomberg Radio Check back with us throughout the day for the latest roundup of companies making news on Wall Street, and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.