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 Tim Keen with Paul Sweeney and Bloomberg's Alexis Christophers because she has individuals stock stories.
It's a podcast, and I want to start with Walmart. We know it, we probably shop there. Shares her down three percent this morning, up though seventeen percent year to date. So here's the story. Out with earnings before the bell, Walmart sales grew in the most recent quarter. Shoppers looking for value, they bought more online, and Walmart actually called
out they're seeing more buying from higher income households. Comparable sales again you hear at time and time again that key metric of stores open at least a year, rising four point one percent. E Commerce sales jumped twenty six percent. So it still is trying. You know, it's getting better at competing with Amazon. Is not winning that fight just yet, but for sure it's it's hot on its tails. Walmart
did call out higher gas prices. It said that is increasing the value of its inventory at eight INChO profits because transportation costs are more now to stock the shelves and deliver those online orders, but those costs were offset by higher sales and bigger gains from its non retail business like advertising. Things are doing well there. Walmart left its financial expectations for the year unchanged.
Walmart last ten years track record Paul twenty one percent per year. Yep. Never what I have guessed that over a beverage of my choice just ten years ago. All time greats Walmart. Can it perform my Apple computer?
Sure?
Again?
Next? All right? Into it. We talked about this yesterday a little bit as well. The stock is down fifteen percent here and down forty two percent so far this year. It is cutting seventeen percent of its staff, that's about three thousand workers. It says it's trimming costs. This is the financial software company. By the way. It's investing again in AI. It says it's doing that to simplify things, to become a faster, leaner, more focused company. That's their words.
Into it. Senate expects to incur about three hundred and twenty million dollars in restructuring charges, largely in the current quarter. But like a lot of companies in the software industry, into its betting on AI, and so we're seeing those job cuts as a result.
Who is not betting the Boston red se are betting on AI?
Sneaker companies are betting on AI exactly. Okay. Also, they laid off about eighteen hundred workers just a couple of years ago, So this is another major reduction there for into it.
Can we blame into it on Danahives?
Hope not?
And we've got I want to call out Deer. You've got a lot of earnings here this morning before before the bell, so Deer easily beat second quarter earnings, but it was largely because of a tariff refund, and I wonder how many more companies are going to be calling this out on their earnings po Walmart mentioned this they did, Okay, So there was a one time tariff refund of more
than two hundred and seventy million dollars. That's from the Supreme Court striking down some of those emergency tariffs that President Trump had put in place, So that actually accounted for almost all of the earnings beat for Deer. So Wall Street's not loving that stock is down three point three percent, even though the stock is up twenty percent
year to date. Farmers, look, they're confronting higher input costs, low commodity prices, Fertilizer prices have soared because of the war with Iran, and now they've got it.
Fairly pulled back, right, I mean the broad Brod scheme of things. I mean, Paul John Deere last ten years, twenty three percent a year. Yeah, it's a cyclical business.
But they do a great ker. I believe they do a great job. And they said that construction and power generation segments are offsetting some of the softness. They're foreign business data centers exactly. There they too, John Deere also in the business of vase.
Center attractor exactly.
I'm direct, you bet it.
We'll go back.
I'll have an AI tractor. I don't know how that works, but okay.
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