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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Tim Steeveeck along with Carol Masser. Let's take a look at some stocks on the move today with US Now is Bloomberg News Senior reporter and deputy team leader for US Equities Jess Menton. Jess, I hope you're looking at Intel, of.
Course the best I'm just making sure in the S and P five hundred and the Nasdaq one hundred, I INTC is the ticker symbol, so up twenty three percent at this point, so one pace for its best one day percentage gain since October nineteen eighty seven, so almost
four decades ago. Here And of course, if for people who remember until actually got kicked out of the Dow last November, and usually when it happens, it can be a little bit of a contrier and indicator for some traders if you think of when Exon or ge got kicked out of the Dow. But what's interesting about this is in video actually replaced it in the doubt. But what happened here and why it's up so high today.
It's actually in Vidia has a five billion dollar investment with Intel, and so when you think about the AI story and the theme here in Vida and Intel said they would collaborate in developing chips for personal computers as well as data centers. So Intel, for context, specializes in ships known as those central processing units that serve as the brain of the computer. So in VideA actually makes
those graphics processing units. So that's more of kind of the powerful tasks like crunching a lot of data and that. So this is why it's important. So basically in Vidia throwing a lifeline to a one time rival. Here in the New York Times actually reporting earlier today that the Trump administration actually approached in Vida nine months ago and asked it to invest in Intel, according to two people
familiar with the knowledge. So interesting context here when you look at a stock like this, but have to point out in Vidia stock vda's the ticker up about four percent right now.
Yeah, interesting, And I was just looking at Intel. It was a seventy four almost seventy five dollars stock back in two thousand. It did go up as much to the level of like about sixty eight and change back in April of twenty twenty one, so it's still like half of that.
It's true, and you have the Dow tradding around records right now. But then also Intel since November eighth of last year, whatever it got kicked out officially and in video got added. It actually is outperforming in video as well as the Dow in that time span over twenty percent.
So some context there, all right, Darden Restaurants take our dri.
Now looking at this dock down almost seven percent so on pea Sports worst day since May of twenty twenty two. So this is a company that owns the parent company so basically Olive Garden when it comes to those breadsticks, as well as Longhorn here and formally used to own Red Lobster, which I used to work at, but unfortunately Red Lobster has their own stuff that was back in college, so.
Long harm because you're a Texan.
Yeah, surprise, surprise actually, but they don't own anymore. Red Lobster has its own sort of bankruptcy issues that it was going through in recent years. But nonetheless maybe a turnaround maybe, right, that's true, but they're seeing some bright spots there with some of those endless shrimp specials that they tend to have in the fall, just for contexts in case people wanted to know. But besides all of that,
so darted. Actually, so I mentioned it's stuck down around seven percent on paceports worst day since made of twenty twenty two, but its first quarter comparable sales unfortunately at this core restaurant brand, So the two mentioned all of Garden as well as Longhorn, those disappointed. So those profit expectations trailing Wall Street expectations for the quarter. So really unfortunately, food inflation still feeling a lot of that at those companies.
If you look at the A and R function in the terminal, twenty buys twelve holds and two cells for Darden.
All right, good to know, good to know, all right.
Cracker Barrel, Yes, so this of course, I think you're out a couple of weeks ago, Carol, when Tim and I were actually chatting about this, but this was back.
And are you going to say that you went to Cracker Barrel bite.
To eat out?
Well, in late August they actually wiped out nearly one hundred million dollars in value. After that rebrand that was very controversial was announced looking at its stock now, the ticker CBRL down seven percent on paceports worst days since September second from earlier this year. The stock actually had been down around six percent this year through Wednesday's close. Obviously after that gyrations there, but unfortunately it has a
weak forecast that's been pressuring that stock. So Cracker Barrel unfortunately cracking under the pressure when it came to that controversy, what did they do?
Did they get yes?
Guy it was the uncle. Yes, isn't he called the old timer uncle Herschel?
Oh? Yes, they brought it to remove him and he had the olveralls. I thought they were just going to have it without it, and it really caused an uproar, unfortunately with all that's going on in the work, right, and so critics were accusing the company of sort of erasing traditional elements that were tied to the brand. But unfortunately, all right, you know, and so they really kind of backed down for the pressure there after what it did
to its stock. But so it's revenue for fiscal twenty twenty six, which will run through extra lights, projected to be in the range of three point three five a billion to three point four to five billion, and unfortunately analysts were expecting sales of three point five two billion in that period. So unfortunately at Stock feeling some pressure once again.
If I said it last night, about twenty five percent of the float is short, so you can see the negative sentiment on this one in a big way.
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.