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The Stock Movers Report, your roundup of companies making moves in the stock market harnessing the power of Bloomberg data.
Let's take a look at some stocks on the move today. I'm Tom Keen with Bos Sweeny and Bloomberg's Alexis kristaf Well.
How lovely because my first stock is Dell, and the stock is soaring here in the pre market. It's up thirty four percent. But guess what it was doing better even earlier when it was up forty percent. So after yesterday's closing, Bell Dell came out with earnings and sales that were much better than expected. In fact, sales were up eighty eight percent year over year growth. I think that's the best sales year since the company went public
again remember that back in twenty eighteen. Now, Dell also out with an annual sales outlook that far surpassed analyst estimates. And you know what's fueling it because when I think Dell, I don't know about you, but I think PCs right, Nope, servers that are firing up AI. So even Dell is now an artificial intelligence play.
My brother is a big shot in this and he said, the single biggest thing is you must by computing power.
Oh yeah, to be in the game.
Every house at the SaaS our house. They're buying three Apple products this month.
I'm a stranger to compute Tom. I me and we have a lot of different devices around and I think I'm paying for like half of I don't know whatever.
Between that and the streaming services.
I don't know exact.
Okay, let's go to Gap, shall we? Because not a great day for Gap shareholders. The stock is down about sixteen percent. I remember, it's much more than just Gap. And by the way, it's not the Gap. And people go, I'm going to go to the Gap. It's Gap fall into the Gap. Remember that campaign.
We call it the Gap?
All right? You know I like to be correct. So our Gap owns Banana Republic, Old Navy an Athleta. And the problem here has been Old Navy revenue outlook one to two percent growth after sales and the Old Navy brand slowed down. They said people are just not connecting with a lot of the merchandise. They thought there would be better sales of some of its spring and addresses that is not happening, and also Athleta, that's that ath
leisure retailer. Sales there down eleven percent last quarter. Gap itself actually saw sales jump ten percent and been out a republic doing okay for the company, But overall Old Navy continues to be a drag on a GAP and we're seeing that in the stock price today. Stock is also down about two percent year to date.
I see right now. Yeah, shares of competitor, American Ego Outfitters has also just had a double dig drop, so I guess it's kind of spreading out into the wise.
Yeah, the earnings were just not spectacular from these companies. All right, Let's move over back to tech net app rallying twenty percent. This is the data storage provider reported its latest earnings with a strong print showing strong growth. The stock jumped after the enterprise data storage company reported results that were better not only on the top and bottom lines, but also it's outlook and that's really right. What we're what we're always focusing on is what are
you going to do for me in the future? And that's also strong.
It's up forty percent. Is the red Sox one three in a row. I mean, I can't I just can't keep up. Good morning, San Jose, eleven thousand, seven hundred, Like, what's their starting salary? Like three hundred thousand a year.
It's got to be something crazy.
It's like it's got George Curry and rob Shift net App. I love that you do this, Alexis, I mean the net App. I mean the bottom line is this is what our guests are talking about. What do you do after you own the top seven stocks?
I mean?
Right?
And a lot of people are saying this thing, this rally needs to broaden out. But just really quick on net app. Earnings up twenty six percent year over year, sales up twelve percent, and it expects sales of one point eight billion in the current quarter. So enviable position there for net app. Do you want one more suck? Autodesk?
All right?
Autodesk down seven percent. It's an engineering software maker. It agreed to buy maintain X. This is a cash deal worth three point six billion dollars. They're going to use about one point six billion in cash and then borrow the rest. But Wall Street says, look, it's an expensive deal, but this is a strong strategic move for Autodesk.
This stock movers 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.