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.
Let's take a look at some stocks on the move today. I'm Tom Keen with Paul Sweeni and Bloomberg's Lisa Matteo. Here with the movers today. Is Tarje a mover?
Yes, Tarje, you said it correctly, Thank you very much, ticking TGT. It's down as much as three percent, so basically they shrim their profit forecast for the year. It's dealing with markdown, softman key merchandise areas. It's COO was actually going to become the CEO in February. He said that they're not even satisfied with the current results, but he said they're moving in the right direction. The company's been struggling to return to growth and had this big
boom during the pandemic. A lot of challenges, right they had the tougher consumer economy, cooling job market. But if you remember, it was also hit by those boycotts when it kind of pulled back on its firsity initiatives.
So that's kind of hurting the company.
They plan though, to increase capital spending to five billion next year.
They're using AI.
They're partnering with open ai to let trumpers use you know, chat GPT on its platform.
So they're starting to do things.
Lisa, Costco help us here for our international audience. What's the difference when you walk into a Target versus a Walmart?
I say, there's more. It's about value. I don't know, I feel like you. I always spend more at Target. Maybe it's just my daughter.
I don't know.
Maybe she just piles up the cart with the.
Yes because they love the beauty products. Oh they do do that, yes, yes, yes, but that's what I feel like other like a Costco or like a Walmart's.
Well, here's a Blomberg headline here, Target studying ways to expand beauty offerings after halta deal. Right, just cross the tape naked. That's amazing, making car daughters of line three?
Yes.
Next, all right, we go to Low's.
Remember TAKR Low up as much as six percent home depot yesterday. They said consumers were pulling back on these big ticket items that pushed them to cut their full year profit target. But Low's reported profit topped expectations, so they did better positive same store sales growth second quarter in a row.
A big thing for them is.
That pick up an online sales growth from professional contractors. And they've really been focusing on this. If you remember, they had that you know, more than eight billion dollar cash yal to buy out Drywall Company foundation building materials, and that deepen their market position with contractors. And the reason contractors are important because they tend to buy more and they spend more frequently compared to every day joe like me who walks in the.
Store, right or John Tucker Joker, yeah, John Tucker, right, yeah. And what Drew Redding said from Bloomberg Intelligence is Home Depot does have a higher percentage of its revenue come from those professionals builders as Lows. So okay, Low's just trying to close the.
Gap a little bit. They moved over to Third Avenue, and I can tell you that the professionals yep as you call them, are lined up and four pole parked, yes, taking Third Avenue down with one lane ex around the new Home.
Depot exactly just got away from here. That's good enough for men exactly. Okay.
Next, we have marketing platform sem Rush sem are there. Shares are up as much as seventy four percent. Okay, the reason behind this is Adobe News.
Right.
Adobe agreed to buy the company one point nine billion dollars. It's actually Adobe's first takeover anouncement since they had that failed number twenty billion dollar acquisition of Figma back in twenty twenty two. All cash deal expected to close the first half of twenty twenty six. If you're wondering, like, what is sem rush? What do they do? Okay, they're
this platform. They allow businesses to analyze optimize their online marketing, but it includes how their company appears in AI search results, which is key.
It was just what Adobe is kind of looking.
It feels like it's going to help them kind of expand in that space because they also offer things like marketing and analytics tools.
So they're hoping that's going to help out.
Go wad up in Boston. Yeah, getting it done for fifteen hundred people, Okay, Gene eleven, Brian mulroy and a host of others.
Yep, all right, technology, go for it.
Congratulations. Brinley Johnson's having a busy morning there as well. Is that all you have today? Do you have a n video comment or.
No, you want to call lazy boy, please Lady Lazy march lazy Boy. Their shares are up like eleven percent sales adjustor for share beat expectations, So good news for Lazyboy survived.
That's recliners absolutely.
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.