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This is the closing bell on this stock movers report the company's making moves at the close of US trading with Carol Masser, Tim Stenovak, Romain Bostik, and Scarlett Foo, the Dow.
Jones Industrial Average is going to finish the day in the green, up about two hundred and sixty points, or six tents of one percent. The S and P down about a tenth of a percent, closing right around that sixty six hundred level. The NASDAK Composite and NASDAQ one hundred each lower by about two to three tenths of one percent, and the Russell two thousand is maintaining some of its gains on the day, hire by four points
or two tenths of one percent. But we should point out at one point, Carol, it was up a full two percentage points.
Got to say, we were thinking about you. We know you like to talk about that index and just kind of watching the move, but you know, certainly a little bit different by the end of the day. Hey, S and P five hundred, guys, I know you're going to get into the industry groups there remain, but you did have about two hundred and eighty eight names actually gaining on this FED Wednesday, two hundred and thirteen to the downside two unchanged.
Yeah, and it's kind of interesting though, I mean, you talk about, how do you get two hundred and eighty eight names, the majority of the names in the smb rallying, yet it finishes in the red. Well, A big part of the reason is well, tech was pretty much at the bottom of that list as a sector. It was the worst performing of the eleven sectors out there. Your leaders are on the day where a lot of the economic or ressus ME interest rates sensitive sectors, including financials,
they were your gainers here on the day. Utilities also getting a pretty strong bid as well.
Yeah, that's a lot of red there right when you really kind of break it down in that way. Hey, listen, let's get to some of the individual gainers workday. This was a standout in both the S and P five hundred the Nasdaq one hundred at one point, let me just see, up about ten percent, almost ten percent at its highs of this session, finishing though still with about a gain of about seven and a quarter percent. Companies Board authorized a buyback of up to an additional four
billion dollars worth of shares. And also you had Ellied Investment Management unveiling a two billion dollar plus investment in the company, the activist investor saying the company's CEO and his team have made substantial progress in recent years driving growth and customer retention. They put out a statement yesterday. So investors moving into that one investor.
And did you take a look at like just kind of the long term chart on this, I mean just really one of the biggest laggards in this space that we've seen.
No.
I know, you're right, a long term perspective always important on this one. But to see some investor momentum at this point. But that's what an activist investor will do. We'll get investors to take a second look. Hey by do also anperformer finishing pretty much at its best levels of the session. I'm looking at the ADRs tack or BIDU finishing up more than eleven percent in today's session.
It is China's largest search engine operator. Overnight, I should point out shares jumped in Asia the most in over two years, in analysts upgrading the company, citing the growth potential for its in house chip business. So you had a bunch of analysts coming out. Our Research Services lifted its radio and by American ad rs to buy from sell it. It held the only Cell recommendation on the stock since that downgraded it last May. So this one a bunch of other analysts coming out and weighing in.
Everybody's looking at me. I'm a little nervous, you know.
No, you're good. Okay, I just feel bad about Krispy Kreme.
Okay, we're going to get to Krispy Kreme. Let's go there. This is this is Tim moving me along. Stock was up about eleven and a half.
That'sion. That's why I feel bad.
Still leaking out a gain, but not even a one full percentage point. Sorry, Carol.
I convinced her to do it. Romain, I said, you got to.
Do that's a big story.
I know it was a bigger.
So what's the deal now? The FBI director what is he? Is he like taking over Krispy Kreme? What's happening?
No? No, he's got a day job already, and he's also been pretty busy, you know. Answering questions from members of Congress, the FBI director Cash Ptel, questioned by one representative before the House Judiciary Committee about stock purchases from
a disclosure for me he signed in July. He was asked about the transactions, including one in a national coffee house chain that would be this one, and also one in a semi conductor company on semi conductor was on the move too, But yeah, I thought we'd ste this one.
And just the too quick, honorable mention. I just want to point out PayPal jump popping about three percent on that partnership with Google, and of course Lyft now at its highest level since twenty twenty two. Carol on News here of that partnership with Weimo.
I'm glad he did Lift because now I can talk about Uber. It was the second biggest decliner in the S and P five hundreds.
Wouldn't even plan this out.
We didn't. We didn't down five percent.
Of TV to this earlier. I'm sure you planned a.
Lot of As remain mentioned, Lift is partnering with weymoud offer robotaxi service in Nashville starting next year. May sound kind of familiar because Uber has a lot of these deals already. This one is the first one between Weimo and Lyft. Weimo is already an established partner with Uber. These two companies have struck multi year deals back in twenty twenty three. Uber now offers Weymo trips in Phoenix, Austin, and Atlanta. So Uber declining on the news that Lift
is now playing with Waimo as well. Also not all IPOs in the last few weeks doing stellar. Look at stub Hub today actually fell six point four percent in its debut, falling below the IPO after the ticketing platform raised eight hundred million dollars in its IPO. The company sold thirty four million shares at twenty three to fifty and its market value is about eight and a half billion dollar. That's based on the outstanding shares listed in
its earlier findings. And finally, General Mills found today by eight tenths of one percent, even though the company reported just earnings per share for the fiscal first quarter the top testimates.
I just want to point out you mentioned StubHub falling below its IPO price, which point out Gemini Space, which went public last week at twenty eight bucks a year open at thirty seven, closing below that twenty eight dollars price at twenty four and change. Here on this Wednesday afternoon, we are expecting some earnings I believe out of Cracker Barrel. They are crossing the wire right now, Let's take a look, of course, a company that has been in the spotlight
mainly for political and cultural war reasons. Well, this is bottom line story, and the bottom line is a miss seventy four cents a share in the most recent quarter of the street was looking for seventy six incent since a share. The revenue did come in above estimates at about eight hundred and sixty eight million dollars. Here's the company's guidance going forward for twenty twenty six, which is basically the fiscal year that they are in right now.
They say that revenue will be in a range of three point three to five to three point four to five billion, the high end of that range below the average of analyst estimates a three point five to two billion.
All right, I'm looking through the press release, and yes there is commentary on the logo controversy. It's the first thing and pretty much the only thing that's mentioned at the top. Julie Messino, the company's president CEO, said, quote, we thank our guests for sharing their voices and their passion for Cracker Barrel. In recent weeks, and we've listened switching back to our old timer logo, hitting pause on remodels, and placing even bigger emphasis in the kitchen and other
areas that enhance the guest experience. Many elements of our plan are working well in delivering results.
Well, I got to say, this is a style nightmare is over that is heavily shorted. About twenty five percent of the float is shorted. So on any you know, you'll see some activity maybe coming off of these earnings, that's for sure.
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.