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Let's take a look at some stocks on the move on this Thursday. I'm Carol Master, a long with Tim Stanvik with us as Bloomberg News cross ass at reporter Isabelle Lee. She's in the house, and I know you're talking about a company that we just talked.
To the CEO.
Yes, Cure Leaf ticker is CRLF, one of those rare ones with five letters, And I did see that interview was a great one and very interesting. So this stock is moving on the back of the US Department reclassifying state regulated marijuana as less dangerous. So they used to belong in the same tier as heroin and LSD, but now they're going to be in a less dangerous tier. So they did stop short of fully legalizing the drug.
And I think everyone should know that this narrowly applies to medical use of marijuana only, but still it's definitely going to be a boost for a lot of people who are advocating for that. And interestingly enough, in the Bloomberg story, we said that this may bolster support for the young men who voted for President Trump in twenty twenty four.
Oh. Interesting, I will say Boris Jordan, who we talked to of curely if the CEO and a co founder and chairman too. He said for full stabilization, stabilization I don't know, no, maybe I don't know, or her full approval, he was going to take about two to three years, and he thinks it'll happen in the next administration, whether it's Democrats or Republican.
Yeah.
He kind of referred to this as like the first step, and there still needs to be legislation that allows banks to do work in the space without fear of going, you know, going a foul of compliance.
That's true, say it's truck.
I actually it was a little bit surprised because marijuana is now legal in twenty four US dates for recreational purposes and in forty states for medical reasons. But I guess in the federal level.
It's still illegal. Yeah, and that's the issue, and that's what makes it so tricky, right.
He also did say that was m and a opportunity as a result of Oh, he was very candid about.
That, totally totally. So really it's fun to watch. I mean listen rally big time yesterday, as you said, but kind of giving back a lot of it today, down about twenty two percent. But yeah, there's a lot of activity out of the White House moving different sector.
When my parents come and visit New York, they're like.
They like to buy like this.
They're like, who's smoking Marilanta? And I'm like, you know, they're walking around.
I'm like, the answer is everybody, Oh right, when you're walking house, it's just been like.
I so thought you were going to go sowhere.
My parents come to New York, they love to go shopping.
Yeah no, no, but I mean they live in California. That's true plenty there.
So what this California is smell like.
Well, it's they're in an area that's not as dense, so they're not walking around smelling marijuana.
But the point is like it's been.
Legalized there like Boulder or like, yeah, it's like that's what New York is like.
Now New York is like that.
Yeah, all right, let's go to airlines. We've talked to digressed a lot about airlines over the last couple of weeks. A lot of them reporting earnings, you got Southwest.
Southwest down by four percent tickers luv. So the companies adjusted quarterly profit and revenue missed expectations. And again it comes after United Airlines slash their full year profit forecasts, and it just really shows you how these global carriers are suffering because of higher fuel prices caused by the Middle East War. Southwest decline to provide full yer profit guidance. It's said achieving those results would require lower fuel prices.
And again we have Delta declining to update its full year forecasts. United Error and Alaska Air have revised or with their own guidance. So it's really going to be a challenging time.
It's tricky like this is an environment that makes those tickets for the.
Summer say goodbye to your travel plans.
I don't know, maybe.
Getting a car, well, wait, we'll go somewhere, the air conditioning power of bills. It's really it's a really rough.
Place, tough life.
Let's go to Texas. Let's go to Texas.
And then a good note, the stock TXN is up by almost eighteen percent. We have the chip maker giving a surprisingly strong forecast. Of course this was boosted by data centers and industrial equipment demand. There has just been relentless a Texas Instrument are the biggest maker of analog chips and embedded processors, and this is a new fact for me. They're the oldest chip producer in the industry. Really okay, I'm glad that that's a new fact for you to also.
Then Intel, huh, I think so.
Yeah.
Sometimes when I hear of a new fact, I'm like, am I just not well read? Anyway? Revenue will be five billion, thank you. I love this show. Five billion to five point four billion. And to be sure, the company's revenue still is short of peaks, but still the optimism is enough to push the stock up by nearly eighteen percent.
I think it's not a record. I think it's Yes, that is another record in like a long time, like five and a half years or something. Yeah, who'd sunk? Right, We've been focusing on so many other companies I feel like earnings and then this one just whoa.
Blew it out of the park.
Uh, thank you. I'm glad you love this show too. It's Belly. She's Bluember news Cross at reporter joining us here in studio. Check out our Stockpovers podcast.
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 Applecarplay and Android Auto with the Bloomberg Business app.