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Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel on another morning of retail earnings. We're getting results from Dollar General this morning, and it looks like low end retail is continuing to outperform. Valerie, good morning.
Yeah, it seems like a theme.
I know everyone was worried about this K shaped economy, but it does seem like these discount retailers are doing quite well. Dollar General shares are up just shy of three percent in the pre market. They beat on their third quarter EPs. It came in at one dollar and twenty eight cents. The estimate was for ninety four cents. They also raised their full year twenty twenty five EPs forecast and boosted their sales at guidance as well.
So really interesting to see if.
This chimes with what we've heard from other discount retailers of late, who seem to say that even though foot traffic is down in their stores, people are spending more once they get in the doors. That was the theme of other discount retailers this week, and Dollar General seems to be capturing that positivity as well, with shares of just shy of three percent after this earnings release.
But it has been a kind of a mixed picture when it comes to broader retail because we're getting sort of a disappointed reaction to Costco's results.
Yeah, well, these are the sales figures for the month of November for Costco, so kind of a sneak peek. We get their full earnings later in December, but Costco shares are down one percent. The November comparable sales came in below expectations. It really was the North of America sales that were pretty soft versus Costco's more international business
which held up pretty well. And again, you know, we're really focused on the consumer headed into the holiday season and how is the consumer feeling, how are they going to spend in the last.
Few weeks of the year.
Costco painting quite a week picture for the month of November, and we've.
Got big tech earnings as well. Salesforce looks like it came in pretty positive.
Yeah, Salesforce at least, the stock is reacting positively. It's up over two percent in the pre market. This is all back on some positivity around adoption of their new AI tools looking better than expected. Now Salesforce is the
largest maker of CRM software. They've had a lot to convince investors that they can compete with these new AI, new AI incumbents that are coming into the market and then being in a cumbent, you know, they really need to show investors that they can use these AI tools to keep their customers.
They gave a strong revenue outlook.
For the current quarter and they said AI product is gaining traction. Their key product is called agent Force. It is still seeing red hot growth. In the previous quarter, it saw a growth rate of over three hundred percent year and year. So incumbent software makers are still doing okay in this AI race.
It is a much different story though this morning for Snowflake. That stock is getting pounded this morning.
Yeah, down over eight percent for Snowflake. This is the cloud based data platform. They gave it disappointing outlook for operating margins. A bit of a different picture here where it's raising concerns about the profitability when it comes to Ai based tools in.
The cloud sphere.
Snowflake makes software that helps corporates organize and analyze data in the cloud. The one positivity though, even though they were disappointed on this operating margin outlook, is that they did announce a partnership with Anthropic alongside a two hundred million dollar investments, so they want to put claud Ai models available on their Snowflake platform in their software services. So a bit of positivity there, but Snowflake stocks really reacting negatively to.
The disappointing outlook for.
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