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This Stock Mover's 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 Paul Sweeni and Bloomberg's Alexis Cristars.
Right, guys, let's start with IBM. It is up about two percent here this morning. It says it has the blueprint for the next generation of tiny but mighty AI chips. It says it can deliver chips with fifty percent better performance and dramatically lower power consumption. To give you an idea of what this is all about, it says that it can cram more computing power into these smaller devices and pack about one hundred billion transistors onto a chip the size of a fingernail.
I don't know what these people are doing, well, Seid and is there anybody not putting out these press releases like everybody's got the new wizbang use it technology on a pin of a needle.
Currently this is the smallest and fastest, so it's amazing.
I at least till Friday, has so many patents They come up with so much new technology even today. I mean they do it year in and year out. You talk about all the new tech companies out there, but IBM from a research perspective, they just crush it.
But I do have to say that it's not ready for industrial use yet. They said they see a path to production in about five years, and they say what does this mean? Because I'm like, okay, well what does this really mean. More transistors mean faster and more powerful computing can help drive advances like faster smartphones, laptops, more efficient data centers, better self driving cars, all that good stuff.
The chart from till twenty twenty two, they're sleep and then boom up they go.
Exactly and then the stock is down eleven percent year to date. So that's not accounting for this rise we're seeing pre market. We have got McCormick. Let's move over to the spices world. McCormick. It was up earlier this morning. It's now up about one percent, but down thirty percent year to date, so it's been a tough twenty twenty six from McCormick. This is, of course, the Spit spices and seasonings maker. It makes Chilulu hot sauce, Chilula Chilula
hot sauce. The red and green French is Mustard Frank's Red Hot. I like that. Said, Adjusted earnings per share reached eighty cents. That topped estimates. It set a tara free fund helped to reduce costs of goods by twenty eight million dollars. We're hearing more and more of that now from companies talking about those tariffree funds and what it meant to their bottom line. Also, McCormick reaffirmed its
full year guidance. The company saw slower growth, though in spices and seasonings because quote, people were using more of what's in their pantry. You know one thing about it. How long do you have your spices?
Fortson for divorce forever?
Oh my god? She throws them.
Out, Well is it less going?
Looks like the expiration and goes this this, you know, some unpronounceable spice. Right, it is like three years has cell date.
It's fine, I'll go it's fine. We can use the hot sauce. Maybe not as potent. Yeah, I don't understand the hot sauce wave. All the kids they have it at their desk, they have it with them it's almost like their water bottle and sauce. And so you go to a restaurant and there's not a ketchup on the table, there's hot sauces.
It's good if I walk around with a water bottle, it has a martinianuse.
They can do that as a hydration.
Yeah, we do that at Patria.
Next.
All right, what else? Oh, let's stick with food darden restaurants.
All right?
This stop taking it on the chin here. Down three and a half percent in the pre market same store sales at Olive Garden, trailing expectations, and they say it's raising questions about demand at the company's largest chain. And it actually overshadowed really an earnings report that was better than expected. Overall, so Olive Garden fourth quarter same store sales growth two point four percent, a four percentage lower
than expected. U. This suggests that promotions and lighter portions were not enough to offset pressure on lower and middle income consumers. You remember they used to have those humongous portions which were in some ways on appetizing. Yeah, they actually pulled back on that.
Yeah.
I've seen a lot of on air stuff of European soccer fans in the US being interviewed. Yeah, and one thing they always say is all your portions here are.
Big, because they are. But I do want to point out Longhorn Steakhouse doing really well, continuing to benefit from strong demand, even those stake prices you're so high. So that's what sort of buttress starred.
The 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.