00:00Broadcom, one of the stocks we need to talk about this morning.
00:03So it's up about 1.5% here pre-market.
00:07It is in talks with lenders to raise more than $60 billion in debt
00:11for an AI chip financing deal that will benefit Anthropic and other companies.
00:17So the financing may include about $30 billion junior debt tranches
00:21and a senior secure tranche that could range from about $60 billion to $70 billion.
00:25This potential deal would help firms, including Anthropic,
00:28access chips and other key infrastructure with talks ongoing,
00:32a detailed subject to change all the good stuff.
00:34But this is the word on the street right now for Broadcom.
00:36Carmen Arroyo, pretty sing, Laura Benitez and Ryan Gould with that story.
00:41Late yesterday afternoon on Broadcom, and what I really noticed about it,
00:46and as you mentioned, it moves the stock today, is a double tranche.
00:50You've got a senior set of tranches with all sorts of guarantees, promises, covenants,
00:55the rest of it.
00:55It's a religious experience.
00:57The junior tranches hold on to your wallet, and that's going to come at a higher yield.
01:02Makes sense.
01:03And it's 60, you know, supposed 60 plus 30, 60 plus 40, 70 plus 30,
01:09who's counting, out to a tenth of a trillion dollars in the senior and the junior piece.
01:16Okay.
01:17So they're getting creative.
01:19This is really becoming a trend.
01:21I feel like every other day we're talking about something like this.
01:24So, all right, let's move on to retail and Ross stores.
01:27And you know what?
01:28You might think the ticker symbol is R-O-S-S, wouldn't you?
01:30But it's not.
01:31What is it?
01:32It's R-O-S-T, as in Tom Keene.
01:34No, it's R-O-S-T.
01:34Yes.
01:35So this is an off-price retailer.
01:37It is up 7.5% here in the pre-market, raising its full-year earnings outlook,
01:41second quarter sales and profit, beating the street,
01:44higher customer traffic from both existing customers and new customers.
01:48They're also going to open up more stores than expected, about 115 now.
01:52More retailers also saying tariff refunds, clumping up the bottom line.
01:58That's the case here with Ross Stores.
02:00Target said the same thing this week.
02:01I've never looked at this, but Ross Stores, 10 years annualized, is 16% per year.
02:07I would say that's a sterling performance.
02:10Yeah, that's very good.
02:11For most retailers.
02:13Yes, when you compare to other retailers.
02:16Yeah, I would.
02:16You got one more?
02:17I do.
02:18BJ Wholesale Club, sort of in the retail realm, right?
02:20Of course.
02:21Yeah, of course.
02:21So it's up 2.4%.
02:24Second quarter profit and revenue, better than expected.
02:27Budget-conscious shoppers can't wait to flock to its stores in search of value.
02:31And you know what?
02:32In search of gasoline, let's be honest.
02:34Oh, yeah.
02:34Places like BJ's and Costco, they make a lot off their cheaper gasoline
02:39because they can buy it in bulk the way they do.
02:42The CEO said the company's value proposition continues to resonate with members in its clubs
02:47and at its gas stations.
02:49It attributes it primarily to strengthen membership acquisition, retention,
02:53and higher tier membership penetration.
02:56We're going to hear from Costco on September 2nd, actually.
03:00Afternoon video.
03:01That would be interesting.
03:02Which is actually one of my son's birthdays, so there you go.
03:04That's his birthday gift.
03:06Costco's our next.
03:07Happy birthday.
03:08Or a Costco membership, maybe, for him.
03:10A membership.
03:11Oh, that would be great.
03:11That could be something.
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