Bloomberg Audio Studios, podcasts, radio news, 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.
Are We're going to start with Gap because it's taken it on the chin today. Last I checked, it was down eight percent. And you know what, I'm gonna check it in because I've been checking oil so much today, I've got to check some of these individivey now down ten percent. The stock is down six and a quarter percent year to date, so that's you know, before these numbers here, look the turnaround A Gap remains pretty uneven. Fourth quarter sales and profit came in slightly below expectations.
Two of its apparel chains underperformed. What were the old Navy and Athleta Gap and Banana Republic, by the way, which they also own, actually beat estimates. And I saw this note from Neil sunders Over at Global Data. He said Athletics brand lacks a distinct look and feel and says it's being punished for its relative blandness.
Wow.
Ouch right, So yeah, Gap has it's work cut out for it, and you know, this is a big week for the retailers. We just found out that January retail sales were you know, pretty benign. Folks are spending but not big, right, and they're looking for value. All right, Let's move on to Marvel Technology, that stock soaring today after seeing an AI fueled boom in data centers. So this is a chip maker that said year, every year, revenue growth will accelerate through fiscal twenty twenty seven and
actually grow faster than anticipated. Okay, so what does Marvel do. It's got these chips that are used in servers and networking systems needed to fire up all those data centers because of AI. So it expects revenue in twenty twenty seven and grown more than thirty percent. That's pretty enviable to nearly eleven billion dollars. Remember we heard from Broadcom, another big chip maker, this week saying the similar things and that AI chip sales are going to top one
hundred billion dollars next year. I want to check, are really quickly shares of Marvel Technology, Like I said, up, what do you have it at? Up ten percent?
Here into pre market trading?
There you go in my mind, just posed up? Is that like comics. You know this is not Marvel.
This is Marvel. This is the technology company.
Oh is that how we say it? That's how I say it, you know, I think you just say differentiate it from Marvel. Costs Okay, New Texts health plunging here twenty two percent. This is a health focused application software firm. A revenue for the fourth quarter missed the average estimate. And here's really the deal. A fifty five million dollar charge for arbitration claims. Not sure what those were around,
but that dragged down fourth quarter profit. New text is a stock in company seven hundred and thirty five million dollar market cap. It was already down thirty six percent year to date. Okay, so no, wady, do we have time for one more? You want to costco? Costco? Not like a costco for do you know the costco?
I used to tale lives there? I know she does.
Lisa loves it here. I don't need three year's worth of toilet paper less, I really don't. Yeah, So here's as there is a cost well in Queens it's there is on the upper east side. There is a cost. But the issue is Lisa has three freezers in the Yes, so I used to have a membership. I don't anymore, but basically a lot of people do because membership fees totals one point three billion dollars during the quarter. That beat expectations. Yeah, they did better. They did better. People
want to buy the bulk. They believe they're getting value. That's a fee, recurring fee. Revenue businesses, you got a lot of them, and you know what online You don't think online anything costco up twenty two percent last quarter, So their online business is on fire.
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 blue Berg Business app. Mm hmm