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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 Carol Masser, a long with Tims Stank. Let's get to some stocks on the move on this Friday for the week overall, and with us, of course is Noram Melnda. She of course covers the markets for Bloomberg Television. She joins us in studio. Good to have you here. Interesting week, a lot once again coming out investors. Del Technologies is the name that you looked at for the week overall?
Oh yeah, today the stock surgey for a lot twenty two percent over the past five days, seventeen percent of that coming from today on Friday alone. So we do know that Wells Fargo did boost the stock, their price target on the stock to two hundred and seventy dollars from one hundred and eighty, and so we did see a lot of stocks rallying off of this HPE super Micro all this on the idea of its boost to AI infrastructure. They see a lot of demand from the
company in that space. We know that's been a buzzword for quite some time. So certainly this is the biggest gainer in the Sep five hundred today and the biggest gainer on the week.
I'm just typing in Rich go into the Bloomberg terminal.
I like, how you do that?
Yeah?
Just seeing who how Michael Dell is doing his change in net worth in one day, twelve and a half billion dollars to the upside.
All on in a day's work.
Wow, that's a lot. Okay, one hundred and eighty seven billion dollars. He's, according to the Bloomberg Billionaires in dex the seventh wealthiest person in the world in fact now ahead of Jensen Wong, who is at one seventy eight billion.
Next week, isn't it that we get earnings from.
The company exactly well Thursday.
Yeah, So it'll be interesting to see and certainly the AI impact that we see in this company.
I was gonna say on Monday, Michael Dell sat down with Jensen Wong and Ed Ludlow in Las Vegas. If you missed that interview, you can check it out on the term.
All right, so let's go.
To another name that was a big mover on the week. We're talking about into.
It, Yes, so from the biggest gainer to the biggest loser into it. Take her I Intu the worst performing stock in the S and P five hundred this week, shedding nineteen percent. This is after we got news that the company was cutting about seventeen percent of its workforce, planning to use that money toward, of course, what again, artificial intelligence. So we've been seeing this from so many different companies. They're trimming that headcount to invest in AI.
Stock down about fifty two percent year to date. They also talked about turbo tax. The sales they're seeing a bit of a slowdown. So it's really a company that's been struggling this year, but it's not alone because a lot of its peers, like Workday salesforce, also struggling this year.
I could totally see, Look, I don't know if you can do this, but I could totally see the AI application of doing taxes right, like.
Hey, I can't. Hey, squad helped me do my taxes? Okay? Type and how much money you made blah blah blah.
I did this this thing? Is it deductible? You know you're on my income?
Like I I just see if it's right. I agree with you before you get out of it.
Well, you could, like you could fill out a form of stuff that you would normally do with a different right and just and it just figures it all out for you. Yeah, it's yeah, there is some that seems so right. We off to see see let's talk about Walmart.
Walmart this ticker WMT. The stock was down about eight and a half percent so far this week the week now ending. This of course, is due to the Iran War pushing up fuel prices. They're saying that this is not only weighing on the company itself, but also the idea of consumers. More broadly. They've really been leaning into having cheaper prices for a lot of their products and what not to bring in consumers. But you also have competitors like Kroger coming in trying to do the same.
So it's about whether or not they could actually last absorbing all of the cost increases that are coming from those fuel price hikes, or whether or not this is actually going to eat into margins more broadly.
The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of come he's 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.