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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 Nathan Hager, joined by Bloomberg's Dan Curtis, starting us off with the earning story of the morning, and it looks as though investors are still trying to figure out how they feel about Home Depots results.
Good morning Dan, Good morning Nathan.
That's right.
Shares of Home Deeper Depot, which trade underticker HD, are up about six tenths of a percent in the pre market. That's as first quarter comparable sales came in at zero point six percent, shy of the estimates. Though despite the weaker than expected figures, Home Depot is maintaining its full year guidance, so it's staying relatively positive, or at least where it was before on the full year. The business is getting hit by elevated interest rates and high housing prices.
That's cause consumers to take on smaller projects like painting and gardening over more expensive remodels. CEO Richard big Fail told Bloomberg in an interview that shoppers continue to defer large projects due to uncertainty, so the cost of living, higher rates, higher energy too, all playing into this. Those shares still, as we mentioned, staying elevated. This is the first big box retailer of the week to report Low's target, and Walmart are out over the next two days.
And of course we're going to hear from Nvidia after the close tomorrow, putting the AI trade in focus once again. We've got some stocks moving on the AI theme this morning, Google and Blackstone, interestingly enough.
Yeah, so that's right, those shares are up a little bit so Blackstone ticker BX up about one percent in pre market, Alphabet ticker Googl up about half a percent. And those two companies are teaming up to create an AI cloud business to compete with the likes of core Weave. It will rely on initial investments of about five billion dollars in equity capital for black Stone, who will become
the major the majority owner. The goal is to have a five hundred megawak computing capacity by the end of the year, and the data centers will run on Google's AI chips called tensor processing units. So those two companies coming up they are challenging the likes of Core Weave. That stock ticker CRWV is under pressure this morning, down to three percent. So it looks like some more people going after all the money in the AI space this morning.
Well, we can't say that Agilsis is under pressure. That is the biggest gainer in the pre market this morning. Tell us why.
Ticker a gys is up seventeen percent. It's a hospitality software company and it beat fourth quarter results. The company is also guiding that full year revenue will be thirty six million dollars or more and that is above estimates, sending those shares up in the pre market. Subscription revenue grew twenty four percent, the eighteenth straight quarter of above twenty percent growth, and the recurring booking for the past fiscal year we're at record high. This is pushing back
against AI concerns plaguing the software industry broadly. Shares of Agilsis were down forty percent going into these earnings, and that's on the AI threat that has been pushing those software shares lower. Software has been turning around, with the sector ending yesterday at the highest level in over three months, and these earnings feeling a little bit more bolishness in the space.
And we do have a flip side. The biggest decliner pre market.
Xp so XP is down about six percent in the pre market. It's a Brazilian asset management company and its first quarter results missed estimates. Revenues from fixed income products sold to retail were especially weak, and shares are set to open near the lowest level of the year. Despite first quarter volatility, the company remains confident in achieving double digit growth for the full year.
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 headline. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.