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I'm Carol Masser along with timstead of It. Let's get to you some stocks on the move. And joining us to do that is our own Isabelle Lee joining us in the house, and she is starting with the place that used to don't know if it still does had a massive menu.
Yeah, you're right, maybe it still does, Cheesecake Factory, Ticker's Cake. When Scarlett saw all my stock options, she said, we're taking a trip to the mall.
So okay, we will start first with the dessert. Kay, thanks for everyone. Yes, shares Our.
Indo red six tens one percent after the restaurant chains comp sales during the fourth quarter came in below average estimates, so the results spurred a downgrade from Stevens to equal weight from overweight. The analyst there said that Same Star sales declined two point two into quarter and desalbrated sequentially, and with chairs already up some twenty seven percent year to date, he just doesn't see any upside from there unless there is a change in earnings growth year over year.
At Jeffrey's they said, you know, softer same story sales in the fourth quarter given the challenging demand environment, whether impact governments shut down, et cetera. But I mean, I guess it's not that bad because Barclays raised their price target to fifty eight from fifty one dollars. So kind of mixed there.
But you're right, maybe they do still have a big menu.
Tellia put what'd you say?
Two hundred and fifty items?
I just I remember it used to be like a book. I used to go because it was kind of good for my little critter, who was, you know, picky and then sot as my dad was with us and could also be picky.
Cheesecake.
You know, you can get a sampler they used to be able to, and you get all these little ones and their cheesecake's great.
This menu is huge, I know.
And the course, well, the portions used to be gigantic too, so you could get two meals out of it.
Okay, So when we're done at the cheesecake factory, maybe we'll do a little shopping. What's next at the mall walking.
We will go to Walmart, which is ticker WMT. It's also in the red chair, sent down by six tens of one percent. So they issued a forecast for the full year earnings that missed expectations. So Walmart said they need flexibility during this unpredictable times for consumers. So this conservatism reflects just really the state of the Ywiss economy. Yes, it's expanding at the solid clip, but you see little
employment growth. But it must be noted that Walmart typically starts out conservative at the beginning of the year, then they just adjust throughout. And they also sided a quote hiring recession and pressures on shoppers as they continue to forecast growth.
That's tough, but what an interesting day. Like we've seen quite a swing because this one was up almost three percent out of ties today and it's now kind of hovering near its lows.
Right, Yes, so I feel like, I mean, it is it's kind of a mixed bag. Maybe it's not like such a worse report, but it's kind of also a little gloomy. I mean, it is viewed as a mega buyback brought economy.
Thirty billion dollars, a new thirty billion dollars share buyback plan.
Yeah, I think they did you're right right boot at the beginning.
No, no, that it's a great end. It's a team effort over here effort. I mean, listen, they did really well. And I feel like you talk to anybody in the retail space. We doct to Dana Telsey. It's in our weekend podcast and broadcast which you can catch over the weekend. Cheap teas there, but no, but she like people like they've been doing really well with their digital strategy and elsewhere.
Right, yeah, look, you do a cheap tease. I do a cheap tease. Okay. Kate Oliver of Wayfair, she just joined us on Bloomberg Business Week Daily. If you missed that interview, check it out in the podcast feed Wayfair Nice. You could find Wayfair stories at the mall. She talked about some of the physical stores that they're building, smaller ones in Columbus, bigger ones elsewhere.
I do like a young millennial buy online.
I furnished my apartment with Wayfair because it has every price point.
That's what she says.
You can go high and you can go low, and the ticker is cool. Just do w Anyway, So it's not a good day for them because I.
Remember when it used to be like a really cool thing if you ticker was just one letter. Yes, it was a big dear liking for.
Just w Can you imagine?
And the stock is down fifteen percent, not such a good day, hitting a four month intra day low. So this comes after they said that they expect a mid single digit top line gross year over year for the first quarter. Jeffries considered this to be conservative, and they attributed to the colder weather to start the year. The company also started during the conference call that their first quarter gross margin will likely be at the low end of the thirty to thirty one percent guidance range.
So I mean, I like this.
William Lair said, it's a solid print with nothing major to complain about. But I guess, I mean, it just didn't meet a lot of the expectations. And that's just what this earning season and the past has been about.
This stock mover'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 applecar Play and Android Auto with the Bloomberg Business app.
Mm hmm