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Let's take a look at some stocks on the move today. I'm Tim Stanibek along with Carol Masson. We're joined by Bloomberg News Acuti's reporter Carmen Reinicky Carmen Lot moving in the after hours.
Yeah, so let's get to those first. The top one that I'm looking at right now is actually ge Vernova, so tick her GeV shares are up six point eight percent. So the company doubled its dividend, said it was going to spend more money buying back shares than previously thought, and boosted earnings projections, which really looks to be as they're seeing soaring demand for electricity and data centers, so
plugging right into the AI play. So basically, they said future earnings beyond twenty twenty eight to be between fifty two billion from forty five billion, and then they raised adjusted earnings as well, and they also said, okay, the quarterly dividend is going to fifty cents and they're going to spend between ten billion. So sorry, they're going to spend ten billion on share buybacks.
What are you doing in twenty twenty eight, Carol.
I have no idea.
Do you know what you're doing?
Kerman?
I'm just blown away by these projections that like, hey, this is what we're going to be doing two years from now.
I you know, it's pretty amazing. Well, it plays into this AI trade right in power graunds managing expectations I think, And yeah, exactly exactly, and the electricity demand that we are seeing is soaring globally. A lot of it has to do with AI and data centers. So ge Vernova, I mean it's a like ninety percent year to date.
Yeah, it's had a really a really good ride, even just from twenty twenty four when it's spun out from General Electric.
Yeah, yeah, that's done really well.
Okay, what about Cracker.
Barrel, Yeah, so one that is not doing so well in after hours ticker CBRL. It's down about nine percent right now. So the restaurant chain cut its sales out look, and it seems like what's happening is they're still seeing a lot of problems sort of struggling to recover from backlash over the logo change, the failed logo change excuse me that we saw earlier this year. So they're now seeing sales between three point two billion to three point three billion, and they previously saw sort of up to
three and a half billion. So they're, yeah, they're still hurting from this, and they you know, they kind of like they changed it, they walked it back. Shares have really taken a hit.
God, is that really the case?
I mean, so the stock is down from July. It's down and incredible. I mean, it was over seventy dollars a share. Now it's you know, close to day at twenty seven. It's had a major hit. I also do wonder here though, if there's some just like casual dining pressures as well. You know, there's definitely you know, maybe some consumer stuff here, but you know, the logo is a reason that people might choose to eat somewhere else.
Did you know that Overall's clad character was known as Uncle Herschel.
No I thought it was old Timer.
Apparently apparently it was known as Uncle Hershel.
Okay, yes, sorry, Uncle Herschel not exactly old timer. No, okay, I'm going to find this. We're gonna let's move on all right, what else.
Do you have for Yeah?
So also looking at AeroVironment a va V is the ticker there. This is a drone maker. The stock is down four and a half percent right now. The company reported earnings per share that missed analyst estimates in the most recent quarter. Basically, they brought in forty four cents a share adjusted the estimate was seventy six cents. They also lowered their full year estimates for adjusted EPs and revenue.
So this also could be a little bit of an impact from the federal shutdown that we're seeing a sort of pushing revenue into the second half.
Okay, do we have twenty seconds for JP Morgan?
We do, indeed, So this was one of the biggest stocks of the day that we were watching. It's ticker JPM. It fell four point seven percent, which is the worst since April fourth, you know, Liberation Day sell off. Basically, the bank anticipates spending one hundred and five billion next year, which is more than analysts thought, and the biggest driver is volume and growth related expenses. Marion Lake said this
at a conference today. She also pointed to strategic investments and the structural consequence of inflation.
The 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.