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This is the closing bell on the stock movers report the company's making moves at the close of US trading, with Carol Masser, Tim stenovek Romain Bostik, and Katie Greyfell.
All right, let's get to some of the individual gainers, if I may, in today's session. So let's look at some of the stocks that actually were momentum performers as of late.
And so take a look.
You've got Western Digital, a high flyer last year, up another ten percent. You also had Seagate Technology that was up eight percent in today's session. You have Micron up almost nine percent. That was another one that gained almost two hundred and forty percent last year. And so just looking through some of the right through, especially when it comes to something like Western Digital and a few others. I did see a note by Evercore II actually was
I think Investor's Business Daily pointing this out. We believe AI driven data demand remains fundamentally robust, providing a durable tail wind for the HDD market. Again, this is Evercore
ISI writing in a note today. Crucially, the transition from AI training to inference could create a structural opening for HDDs, So nonetheless, I don't know momentum players getting some love on this Wednesday also getting love Intel This too was top in the S and P five hundred and the Nasdaq one hundred, again of just shy of nine percent.
The chipmaker greed to pay fourteen point two billion to buy back half of a plant in Ireland, DA Davidson writing that the move bodes well for the company's turnaround story. Transaction financed with cash on hand and the issuance of about six and a half billion dollars in new debt.
It is expected to add to the chip maker's earnings per share and kind of reflects Intel's growing confidence in its business and it's belief that its products can play a bigger role in the boom and spending on AI infrastructure. You probably don't do a deal like that unless you have some confidence that year outlook. And then here's an
interesting AI data center play, kind of unexpected. THH is the ticker the company's target hospitality up about thirty six percent there staring as much as forty three percent intra day.
It's a one point two billion dollar market cap provider of workforce, lodging and hospitality services, and they secured a multi year contract worth over five hundred and fifty million dollars to construct and provide comprehensive facility and hospitality services for a top five hyperscalers data center development in North Texas. So I guess they're going to be providing food and lodging.
You got to feed the data center.
Let's go to We've.
Talked to workplace our housing people right who are doing workplace housing where like all this stuff is going on because workers need places to live. Anyway, there you go, big big mover.
Had you had a lot of gainers to choose from. I had some decliners that stayed in the red all day today, which is great. I do want to start with shares a Nike falling today by more than fifteen percent. Late yesterday, the company gave this gloomy outlook for the year ahead. Revenue expected to decline two to four percent
in the current quarter. Headwinds include all the stuff that we've talked about for years at this point, elevated inventories in Europe, in the Middle East, weakness in Greater China. Ni You CEO Elliott Hill said, the direction is clear and the foundation is getting stronger, but acknowledged that parts
of the turnaround are taking longer than expected. We got a great story on the Bloomberg, lillly Meyer writing it up about getting a recording of a call that Elliott Hill had with staff yesterday and really trying to rally the troops, given that shares of this company are at lowe's not seen in more than a decade at this point, so trying to get some excitement and trying to get them to win, and also expressing his own frustration.
Yeah, that was a.
Great piece of reporting. I mean, if you have to imagine that, you know, if you're constantly in a state of turnaround and it doesn't seem like it's getting traction, especially when you take a look at the share price, that has to be a pretty killer for morale of the employees at that company.
Well, also, Tim, were you what shoes were you wearing in October twenty four fourteen, the last time.
The stock was this low?
I don't even remember, good what was I don't even know, Like, what were they? I don't even know, Bailey, what were the nikes in twenty fourteen?
I'm trying to think.
I was probably in college. I was in college. He was also in college, so that was probably I wore spare in advance.
That's another two out of you too. All right, we're going to keep going here. What else do we got on the decliner's menu today? How about a little more retail. Let's talk about our age. The company, formerly known as Restoration Hardware Ships felt today by more than nineteen percent. They were down as much as twenty three percent. They closed at their lowest levels going back to April of twenty twenty. Remember what happened then was we were in
the demand shock of the COVID pandemic. We're in the depths of that. The company forecast revenue for their first quarter that missed the average analyst estimate. Analysts out and said that the forecast was pressured by execution supply chain disruptions. Also, an interesting note from an analyst over a City said the company lags peers in the home furnishings industry, and it also reflects a weaker European consumer demand environment. It'll be interesting to hear from more companies as we do
get into the next quarter. Like I don't know the banks in a couple of weeks about what the demand environment is looking like in the United States. And finally, how about some French fries or potatoes that go to French fries. This is a Lamb Weston Holdings. They make frozen French fries from potatoes.
Biggest customer McDonald's, Right, I had McDonald's for lunch.
I tried that.
The biggest customers making Grace shares felt to the lowest level. Going back to twenty seventeen, the company's full your forecast implied weaker than expected fourth quarter performance. They don't have your Did you get fries with that daily?
I did?
I got a medium fried. It was like five bucks, though, But I will say I tried the Arch. It's a ten dollars burger worth every penny it was.
Was that the one that the COEO eight.
I was just gonna say, should do an Instagram video about it? Basy next time?
Maybe next time I'll do it.
Tim.
I'll get you one too, Thank you.
Beautiful Tim. I don't know if he would eat an Arch. It doesn't seem like I had Chick fil A for the third day in a row. No one asked, but I'll tell you anyway. Let's talk about the bond market and what happened there. It was pretty quiet. Once again, you're seeing fireworks to the upside when it comes to the equity market. Can't say the same for the bond market. It's been kind of nonplus over the past two days.
But nevertheless, the two year treasure yield, which barey highlighted earlier, arising CI about one basis point here, But then you take a look at the rest of the curve and there you go. The twenty year yield now unchanged as well, in addition to the thirty year yield, and I think you can go ahead and call the ten year treasure yield unchanged as well, though we are looking at fairly high absolute levels.
Two quarter pound, four ounds, one hundred percent beef patties.
That's March.
That's a lot of beef.
It's over one thousand calories, so I kind of felt a little bloated, but I walked around.
They say it's thirteen heavy.
Nothing like eating one thousand calories and then going on air.
Oh, we can't talk about twelve metris Okay, I guess we can't talk about twelve metric tons of stolen Kitcat bars. Speaking of maybe we save it for tomorrow ahead of a big meal the holiday weekend.
A lot of kickats going to be eaten over Easter weekend.
And then sum This 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.