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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. I'm Tim Keen with Paul Sweeney and Bloomberg's Lisa Tell. Do you have just one stock mover or a plethora?
No, there's a plethora.
Get ready for it, Okay, because we have this AI chip rivalry heating up in Video NVDA. Their shares are down as much as four percent, Alphabet Googl up as much as four percent. So the reason behind all this is because there's a report from the Information that Medicine Talks has spent billions on Google's AI chips, and that's basically challenging in videos market dominance. You have Google over Alphabet on track to hit a four trillion dollar market valuation for the first time for the company.
So it there's a lot behind it.
Remind me like the red Sox were favored in March. Yeah, Googled and Apple We're dead, am I right? Yeah?
I mean they were like on loove, Google's been I didn't see it. I didn't see that big movement Google, that's why not treading tech stocks next.
They got but they are and video stocks already. You know, they facing the challenges. They had the fear of the AI bubble, but it's coming.
It's this morning. Their shares are down.
So we got a retail right, we had retail sales figures out today, so we'll start with Cohle's kss. Their shares up as much as twenty seven twenty seven percent, a few things. So they raised their full year outlook for the second quarter. They also lifted their comparable sales adjusted diluted earnings per share for guidance for the year, but it comes as the same weight. The company named its interim CEO as its new leader. You know, there were a lot of issues behind the CEO of the company,
but it still faces this tough path. It's posted fifteen straight quarters of declining year over year revenue all that. So it's it's starting to come back. It's showing improvement and that's it. I mean, price conscious consumers are going there.
This is like ancient Paul me on the screen is a ten. Yeah, because it's like so you know they have gray airin yep, what are you laughing? About over there Monominee Falls, Wisconsin. Good morning, yep.
But it's the price conscious consumer and that's what a lot of companies have been talking about. I mean, you go to Cohl's and you have a thirty percent coupon, you have your Cohls cash like you get a big you know, argain.
When you have hot dogs at the front.
They have taught this.
But they do have sephorier products, which my daughter likes to go when we get there, so they have that going for them too. Another retailers, Abercrobi and Fitch anf their shares have been up as much as eighteen percent. They raise a low end of their full year series outlook net sales growing about sixty seven percent this year and that was up from the previous outlook.
But the Hollister brand that's what's doing well for them.
Sales there jump sixteen percent. Yeah, strong back to school demand because that's the one for the younger kids. Like the younger kids love the Hollister brand. But the CEO has been kind of trying to shift it, you know, get get the older customer for the Abercrombie brand, and that's kind of been starting to work now.
So sock ups nineteen percent today but still down fifty six percent year.
Maybe there's still lined up on the sidewalk outside, oh for those drops. Not.
I haven't seen that a while in Abercrombie and Fish.
Because like anytime I wonder wherever I go, Brandy Melville, there's always oh.
That I was on that line.
Yeah, and your wallets survived.
Yes, and you sit there and you get like a hot dog because you're waiting there for so long because you just stand there.
But yeah, no no lines outside for Abercrombie next.
And and that was it, Gap, TJX, Abercrombie, Cols, like all those have been with kind of standing that Friday.
It's not as big a deal as it used to be, like thousands of people outside.
Walmart because the sales came before.
Like I've been getting Amazon Black Friday deals for the past week.
And the whole e commerce thing. I mean, you know, you can just buy a lot, if not all, of your stuff just with the click and then it's on your doorstep same day, next day, something crazy the whole world.
But my daughter still wants to go, she wants to do the Black Friday thing. She's like, when you get home we're going shopping.
Short Hills Mall there you go clocks by, yep, and there will be a Short Hills mall from now till Christmas. This is in New Jersey, folks. A line of cars backed up on Route twenty four waiting to get into the parking lot.
That's like a fancy mall though, right, Yeah, I've never enjoyed the experience.
Yes, yeah, it is an experience. You can spend a day there.
They haven't Italy there now, I know. It's amazing.
Yeah, that's what the malls are doing.
Now.
It's an experience. It's a destination. You're not just going there to shop quickly, You're going there for the experience.
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 headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.