Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Well, let's take a look at some of the stocks on the move today in the pre market. We can do that with Alexis Christockers. What are you looking at, Alexis.
I'm looking at a stock that hasn't done much of anything for months now, Paul, but today it's having a great day. I'm talking about Lazyboy, the furniture company. The stock is up seventeen percent here pre market. A year to date, it was down six percent. So this is after reporting better than expected Q four financial results. Also, the company authorized a three hundred million dollars shared by back, so that sort of always helps. Adjusted earnings of a
dollar twenty six a share that beat expectations. And they're also saying that they reiterated guidance for the fiscal year. So earlier in the year they had talked about bad weather maybe hurting sales at the furniture stores, but apparently, according to these numbers, you know, that really didn't come to fruition. They also said that they are growing their
business by opening new stores acquiring independent stores. So lazy Boy now owns two hundred and thirty stores across North America, which accounts for more than sixty percent of its total network.
It's funny. I didn't even you know. I didn't even know this was a publicly traded company. I just love some part, some conglomerate you would think. Based in Monroe, Michigan, ten thousand, two hundred employees, got a market cap of one point four billion dollars.
I mean that's a substantial company. Way to go, lazy Boy. Good for them, all, right, stock not lazy today. Let's move on to CarMax ticker symbol. They're KMX having a good morning as well. Up right now about one point eight percent. And it's been having a good year because CarMax is up thirty five percent. Fiscal first quarter sales climbed. This is the used car retailer sold more vehicles and
said it's turnaround strategy appears to be taking hold. So net sales operating revenue at Carmacks climbing six point two percent. But the company posted a profit of one hundred and eighty six million dollars, but that was actually down compared to a year ago, and they attributed that lower profit in part to lower prices. They basically said they had to cut prices to stay competitive and to move cars
off lots. Comparable sales slipped eight tenths of a percent, not as steep as the two percent decline that analysts were looking at, but still a decline nonetheless. Moving forward, though, Carmack's CEO said the company is going to continue to implement its turnaround strategies and such as ensuring that its cars remain priced competitively. I think that's the trick.
What I didn't know is I think the average age of a car in the US on it, it's like fourteen years, former fourteen years. I mean, it's like I didn't know that. But I mean, so if you're CarMax, that's your bread and butter right there.
People are holding onto their cars much much more, and I think cars are just holding up better in general.
Yeah, they're better made, and Carmacks stocks up a little bit today. It's up thirty five percent year to date, so I guess that turnaround is taking taking hold there. What else, Yeah, for sure.
And then I want to move over to the manufacturing sector with Jabel out with earnings here before the before the open, the stock is up two point six percent. Jabil raised its full year outlook after logging higher profit and a jump in revenue last quarter. Demand for artificial intelligence infrastructure remains robust, according to the company. Jabel's outlook for AI related revenue for the year is now meaningfully higher on what the company CEO called extremely strong demand.
So the manufacturing company now expects adjusted earnings of twelve seventy a share on revenue about thirty five billion for the year, and that is up from its previous forecast. So Wall Street likes what it's hearing from Jbill, and again the stock up better than two and a half percent here in the pre market.
I mean, here's just another company I don't know anything about. I mean Jabel, Yeah, yeah, and it's huge. It's a you know, forty billion dollar market cap company based in Saint Petersburg, Florida. Okay, one hundred and thirty five thousand employees. Again, how I've been on a Wall Street for forty years, I've never heard it.
I mean, these maybe they weren't part of a big, a huge m and A deal. This is why you don't know yes, but I'm just taking a look at them. Jabil up sixty five percent year to date, so stock's been a nice performer for its shareholders.
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.