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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 Carl Masser, a long it, Tim Stanevik. Let's get to some stocks on the move on this Friday. Bloomberg TV Marcuts correspondent Normal Linda is in the house. Ross Stores man it is an outperformer in both the S and P five hundred Nasdaq one hundred. I think right now it's the number one gainer in both indexes.
Yes, it is a number one gainer certainly in the S and P five hundred right now, up for a record high. We see shares up as much as eight point three percent. This is the biggest jump that we've seen for the company since April. And it's no surprise why they're gaining here. We're seeing a lot of consumers going toward a lot of the stores that are marking down prices or stores that are just more affordable right now, and if you think about Ross is definitely right at
the center of affordability. And so we are seeing a lot of momentum here building into the holiday season. Here, we're looking at shares of Ross up about fifteen percent though in the year.
I know you're thinking about Ross, Carrol, I'm thinking about in video.
What are you saying?
Well, I know Ross is one of your.
Gaming You're a chip guy, and I'm a retail.
Kind of girl. You know, perform in the s and P five hundred, and it's one of your gamers.
Today, I'm just saying, what's a video doing?
Right?
What is in Vidio doing in video?
Right now?
Look looking at shares of video in v DA, of course is a stock that cannot literally leave our minds. We've seeing it up down, down as much as what more than percent.
Today And I'm having my cup of coffee tomorrow morning when I wake up, and I after I've walked the dogs, I actually might not be thinking about Invidia.
Just on a Saturday morning, right clearhead just for that video might not be on your mind.
Just saying for you that, just saying.
Good job with the value.
But today exactly, yeah, I have to have you too.
It's good you have to Well, we are seeing shares of a video up just to touch up about four tenths of a percent right now. This after we got some news of Bloomberg exclusive that US officials are having early discussions about whether it's a lot let in video sell US h two hundred AI chips to China. I mean, noose final decision here has been made. That's what we're seeing from the reporting here. But it's possible that the idea remains an internal debate and never results in actual
license approval. So it's going to be something that we have to keep our tabs on here. But I mean, shares of a video up about thirty five percent this year, but clearly really really volatile this year. We're really digesting the results we got out of the company.
I feel like this is the weekend d video, right, It's like at rallies and it runs out of steam at rallies, it runs out of steam. That has kind of been the week. So it kind of explains right as we try to figure out this AI trade.
Still, we got in VideA earnings earlier this week. We also got earnings from Gap and shares are moving higher.
Yeah, we are seeing shares moving higher actually for the best day since May that we're seeing for the company here. And this is a bit of the company bucking the trend that we've been seeing about a lot of consumers seeing caution in recent weeks as we think about just the broader retail landscape. But we did see some strength from GAPS, particularly in terms of its celebrity partnerships that really helped to boo this higher. Old Navy, Banana Republic.
Those both were strong brands for the company's performance. Athlete A thought not doing too well, But it does seem as though Old Navy and Banana Republic are what is pulling the company through.
Mary ross Gilbert said, Gap is back.
Gap is back, apparently in a big way.
She like back to nineties level.
Tim and I were like, I've been there, you know what.
As we were having that conversation with her yesterday, which if you missed that was Thursday. If you missed it on you, No, I wasn't going to say that.
I was going to say, you can.
Check it out on our podcast feed. People have stuff to do, Carol today I did. I did think. You know what we do buy a lot of old Navy actually yea for the kids. Yeah, it's the price is right, and these kids grow so quickly. Yeah, you know, they also the sweatshirts disappear. What do you mean they just they leave them at school. They're gone forever, like they do. Where is that it doesn't matter if you put your name on it.
All right? Of course, this is a company that we've really been watching because it was halfway. Really, I mean, I've been watching you today.
It was gonna be a trillion dollar market.
I came from the equity scheme, so I've been hearing some whispers that they were watching it already. So maybe I had a head start. You didn't have a head start.
I was shocked.
Yeah, they've been watching it all week long, just waiting to see when it would cross that one trillion dollar mark. But to your point more broadly, I don't think that the average person was really watching this stock in that way. But we really are seeing this hitting the highest level on record, surpassing that one trillion dollar mark, the first healthcare company to do so, and of course one a very few outside of the tech space to really do so.
And this is after, you know, of course, the weight loss pill. We've been seeing a lot of optimism there. They're expecting it to reach ninety five billion dollars by twenty thirty here, and of course we are also seeing that plan with Novo Nordis to sell obesity drugs directly to employers. So I mean this stock is really doing some interesting stuff in a meaningful way, up as much as about what two point two percent.
That's what sent it over up almost thirty eight percent year to date so far.
This 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.