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00:00A relatively low volume day, Carol Masser. We had a strong rally going, but we should point out some
00:05significant selling pressure here as we get towards those closing bells.
00:08Yeah, we were just noting as we were coming over to you guys, right, seeing some selling here into
00:11the close. You look at the charts and it's really kind of a rollover, if you will. You look at the
00:16VIX, though. It's something that has been up more than a point, down more than a point. Right now
00:21we're down about half a point. So the VIX, too, having a very volatile day. I think the investors
00:26are just a little kind of worried about what comes next, maybe. Yeah, you see it on the chart
00:30right there. In fact, the S&P 500 moving between gains and losses about half a dozen times today,
00:36really searching for direction until about 130. That's when it was solidly in the green just until
00:41the last couple of minutes. Don't know exactly what happened, but seeing some selling into the
00:44close. It definitely feels like we're meandering a bit. And the fact that there hasn't been a whole
00:48lot of real hard economic data this week might contribute to that. I mean, we also had a week
00:53in which we had the 20-year bond auction really have an impact on sentiment yesterday. The 10-year
00:57tips auction was today. What does it say that when we're so keyed into every single bond auction?
01:02It means people are looking for any kind of indication of demand for the full faith and
01:06credit of the U.S. When was the last time you paid attention to a 20-year bond auction? I know,
01:10right? And then even that tips auction, I'm glad you brought that up because I paid close attention
01:13to that, something I normally wouldn't. Luckily, that did come in on the nose, but definitely the
01:17jitters are still there. As we get the closing bells here in New York City, we do just want to
01:23reiterate here, the S&P 500 at one point was up about six-tenths of a percent on the day,
01:28but it looks like it's going to close out in the red. We should point out, day four of this week
01:32right now, and the S&P has opened in the red on all four of those days. Now, it did close in the
01:36green on Monday, but that was it. Tuesday, Wednesday, and now Thursday, the S&P 500 lower by only about
01:43a less than a tenth of a percent. The Dow Jones unchanged on the day, the Nasdaq scarlet holding
01:48on to its gains, but only of about three-tenths of one percent, and the Russell 2000 lower by about
01:53a less than one-tenth of one percent. All right. I have some breaking earnings here. We've got it
01:57from Intuit, which is, of course, the maker of TurboTax, the software company reporting third
02:02quarter adjusted EPS of $1.65, handily beating the consensus estimate of under $11. It also has raised
02:09its full-year guidance as well. Now looking for a full-year revenue of $18.72 billion to $18.76
02:17billion. Previously, it had anticipated only as much as $18.35 billion. It sees full-year adjusted
02:23operating income of up to $7.56 billion. Previously, oh, I should say the consensus estimate is $7.32
02:30billion. So you're looking at a boost here in the outlook, which is always encouraging for investors.
02:36And we should note, by the way, that the third quarter is the biggest quarter of the year for
02:39into it because it wraps in April 50, tax day, when people buy TurboTax.
02:44Yes, indeed. It makes a lot of sense. Hey, some more earnings coming. Ross Storrs just crossing
02:49the Bloomberg terminal. First quarter results, EPS $1.47. That's a penny better than what the
02:54street was expecting. Actually, two pennies better than what the street was expecting. It's a penny
03:00better than the year before. Sales coming in at $4.98 billion. That's up 2.6% year-over-year.
03:06Estimate on the street was a little bit below that, $4.96. Inventories, $2.67 billion. That's
03:13up 8.5% year-over-year. The estimate was for $2.56 billion. So maybe a little bit of an inventory
03:19build. We do have the company's CEO saying, despite the slower start to the spring selling
03:24season in February, our monthly sales performance improved sharply month after month for the balance
03:29of the quarter. So certainly a read on consumers right now. The stock, though, guys, it is unchanged in
03:34the aftermarket. Autodesk out with their results, of course. Enterprise Software Company with a big
03:39focus on architectural firms. Adjusted EPS of $2.29 a share. That's higher than street estimates of
03:45about $2.15 a share. A beat on revenue as well. And here's your forecast. The company is saying that
03:51for 2026, the full year, its full fiscal year of 2026, it sees billings in the range of $7.16 to $7.31
03:59billion. The low end of that range above the average of street estimates. Adjusted EPS for
04:04the year, it says, will be in the range of $9.50 to $9.73 a share. The top end of that range is above
04:12the average of analyst estimates. The share is higher by about 1.8% right now.
04:18I'm looking at what's going on with Workday in the after hours. This is the enterprise software
04:21company focused on HR and the like. Shares bouncing around down by about 2.6% right now. The company did see
04:28first quarter adjusted earnings per share. Beat estimates. The company sees fiscal year
04:32subscription revenue maintaining at $8.8 billion. Sees second quarter subscription revenue coming in
04:38at $2.16 billion. That matched estimates. The company does see fiscal year adjusted operating
04:43margin at 28.5%. Earlier, it saw 28%. So that's a beat there. Estimates were at 28.1%. The company
04:51still, as I mentioned, sees fiscal year subscription revenue coming in at $8.8 billion. Shares right now in
04:57the after hours bouncing around, but down about 2.6%. Hey, guys, I want to go back to raw stores
05:01because we saw this stock down about now 5.4% here in the aftermarket. A little bit more commentary
05:07from the company saying, given the varying nature of tariff announcements, we are only providing an
05:13outlook for the second quarter at this time and are withdrawing our previously provided annual sales
05:17and earnings guidance. So when we think about tariffs and whether or not companies feel like they have
05:22visibility certain for a retailer who gets so much merchandise overseas, we can certainly see
05:27that that's having an impact. And so you've got raw stores down almost 7% here in the aftermarket.
05:32All right, that one is down. Let me go to some of the gainers in the regular session. Palantir
05:37is on that list. At its highs today, up almost 5%. It was a top gainer in both the S&P 500 and the
05:43NASDAQ 100, finishing the day with a gain of about 1.3%. Dow Jones Barron's out reporting on the company,
05:49noting that the U.S. Defense Department, excuse me, said late yesterday after the close that it had
05:54raised the contract ceiling for a program that Palantir provides. It's their Maven Smart Systems
06:00software licensees by $795 million. So basically they're saying, and analysts are noting that
06:06Palantir stands to win from these deepening ties to the Defense Department. So this one's been on a
06:11tier this year. It's up about 65%. Advanced Auto Parts, way out performance today, up about 57%.
06:17The company reporting comp sales that fell less than expected in the first quarter, also saying
06:22that it's reaffirming their annual sales guidance, or annual guidance, excuse me, based on performance
06:27to date. And the guidance assuming current tariffs remain in place for the remainder of 2025. But
06:33really some outperformance there. And Urban Outfitter, also up about 23%. So a big move to the upside.
06:39The company reported net sales for the first quarter that beat the average analyst estimates.
06:43An analyst noting the strength in its namesake, UO brand, and are positive about the retailer's
06:48margin expansion stock now up more than 30% year to date. Scarlett, over to you.
06:53All right. We have Decker's reporting results. This is the company behind Uggs and Teva Sandals.
06:57They're withdrawing their full year guidance, or I should say not providing full year guidance for
07:02fiscal year 2026 because of the macroeconomic uncertainty related to evolving global trade policy.
07:07So you see that stock down about 7% in after hours trading. As for the quarter that was, for the fourth
07:13quarter, they reported net sales of $1.02 billion, just slightly higher than what analysts were looking
07:18for, which was a billion. And the EPS for the fourth quarter was a dollar a share. But once again, that's
07:23backwards looking. Decker's is not providing a guidance outlook for this full year. But it does say it's
07:29capable of returning value to shareholders. Talks about the $1.9 billion of cash on hand, a sustainable
07:35cash flow generation, and the increased buyback program, which now totals $2.5 billion.
07:41All right. More retail news coming from Decker. Shares down about 10% in the after hours.
07:47Other retailers moving today. Williams-Sonoma shares falling 4.5%. Shares were down as much as
07:5212% earlier in the session. Wall Street questioned the company's full year, reaffirming full year net
07:57revenue guidance, given its significant first quarter beat. Once again, shares down by 4.5% today.
08:02Also, I'm looking at the Invesco solar ETF. Solar stocks did so poorly today that I had to look at
08:09the entire ETF. We saw a lot of names move lower in the double digits. As a whole, though, this ETF
08:14fell about 7.5%. It tracks the MAC Global Solar Energy Index. The biggest holdings include First
08:19Solar, Enphase Energy, and Sunrun. Stocks fell as U.S. House Republicans' new version of the tax and
08:24spending bill accelerates the end of incentives for clean energy production. Taking a look at what actually
08:31fell in there. Sunrun down 37%. SolarEdge Technologies down 25%. Enphase Energy down 19.6% today.
08:38And finally, for the sports fans out there, Manchester United down 8.6% today.
08:44So after we got some news about, well, just how they did, Romain.
08:48Yeah, they didn't do well.
08:49That's not good.
08:50Which is obviously odd to me. You know, you lose and, you know, somehow your stock goes down.
08:54Let's go take a quick look at yield. So, and these numbers really don't tell the whole story.
08:58Right now, you're looking at a 30-year yield moving lower on the day by about four basis
09:03points. But all the action was early this morning here, where we saw yields spike about
09:07six basis points on the long end of the curve to 5.15 on that 30-year. And that is where
09:12most of the action was. I thought Greg Peters over at PGM Fixed Income really put it well
09:17here. There's really two bond markets out there right now. You have all the crowding going on
09:21right now in the short end of the curve. And on the long end, it's anybody's guess.
09:24Because right now, the tail is wagging the dog out of Washington right now with those
09:28budget bills and what it may add potentially to the deficit.
09:31Yep. We're all focused on Washington. No doubt about it. All right. That's a wrap.
09:34Our cross-platform coverage, radio, TV, YouTube, Bloomberg Originals. Alex is heading out.
09:39Scarlett and Romain finishing up there on television. Tim and I coming back to Bloomberg Business Week
09:43Daily right here on Radio Guys. We will see you again same time, same place tomorrow.
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