Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm Tim Statbeck along with Carol Master. Let's take a
Speaker 3: look at some stocks on the move today. With us
Speaker 3: is a Bloomberg News equities reporter and deputy team leader
Speaker 3: for US Equities, Carmen Reinicky, what are you watching?
Speaker 4: Yeah, So the first one I'm looking at today is
Speaker 4: Meta Platforms. Is this ticker me Eta, And you know,
Speaker 4: the stock is up about seven percent right now. It's
Speaker 4: a little bit off of its highs on the day,
Speaker 4: but this is the best performer of the Megs seven.
Speaker 4: So we saw some investors kind of moving back into those,
Speaker 4: you know, risk on stocks earlier today. So what's happening
Speaker 4: with Meta? The company debuted its latest artificial intelligence model.
Speaker 4: It's called MEWS Spark and it was created by Meta
Speaker 4: Superintelligence Labs. And this is important because this is sort
Speaker 4: of the first release after Mark Zuckerberg said that they
Speaker 4: were investing a lot of money into this, specifically into
Speaker 4: this AI lab to keep up with competitors in the space.
Speaker 1: It's a new Meta universe.
Speaker 3: I still call it avado.
Speaker 4: You call it?
Speaker 3: What is it called avocado?
Speaker 1: Avocado? Is? It was?
Speaker 4: That?
Speaker 3: The was the internal code for it. But now how
Speaker 3: quickly things change. We're calling in the platforms, but mews, yeah,
Speaker 3: call the meta platform. They're all in on.
Speaker 1: I also like avocado. They moved away he did, okay, yeah,
Speaker 1: but they're really in.
Speaker 2: All right.
Speaker 1: Sorry, you know, little levity needed today. Where should we
Speaker 1: go next?
Speaker 4: Yeah, so let's go to CHEG. So this is ticker
Speaker 4: c HGG. Shares are up about twenty two percent right now,
Speaker 4: a pretty big jump for them, most in a few
Speaker 4: weeks here. So this is an online educational platform, and
Speaker 4: shares are up so much because Galloway Capital Partners, an
Speaker 4: activist investor, UH disclosed they have more than five percent
Speaker 4: stake in the company, and they're also arguing for changes
Speaker 4: to improve the stocks value, including separation of some of
Speaker 4: its business units.
Speaker 3: The stock has been beat up. It's right now in
Speaker 3: eighty eight cent stock even with today's twenty more than
Speaker 3: twenty one percent increase if you go back to twenty
Speaker 3: twenty one, a little bit post pandemic ninety six dollars stock.
Speaker 4: Well, this is one that really got caught in sort
Speaker 4: of the AI losers pocket, right, you know, it's sort
Speaker 4: of rife for you know, disruption, I guess, having artificial
Speaker 4: artificial intelligence tools on the market. And it's actually something
Speaker 4: that the investor that this activist Adventure mentions in his letter.
Speaker 4: You know, he actually kind of applauded how the company
Speaker 4: is sort of integrating AI and trying to keep up there.
Speaker 1: Bruce Galloway, Right, yeah, hey, let's talk about Levi Strass.
Speaker 1: We had a great conversation with the CEO and they
Speaker 1: seem to be just firing on all cylinders. And yeah,
Speaker 1: he felt really guilty because we didn't have Levi's on,
Speaker 1: but I have a lot in my wardrobe. Full disclosure.
Speaker 4: Well, same well Stoca story. Yes, the stock is doing
Speaker 4: really well. It's up ten percent today. This is the
Speaker 4: best intra day gain since July for this stock, so
Speaker 4: doing really well. The company, you know, raised its projections
Speaker 4: for the year. It had really solid quarterly results and
Speaker 4: I know you guys also talked about the macro here
Speaker 4: and how that's really important you know going forward.
Speaker 1: I mean they talked about you know, their supply chains
Speaker 1: around the world. They've done that for a long time.
Speaker 1: And their collaborations with influenza.
Speaker 3: You know the collaborations are cool. When I haven't heard
Speaker 3: of most of the then you know they're speaking to
Speaker 3: the telegraph.
Speaker 1: The followers are social and we're like.
Speaker 3: No, idea, who I doubt these people are? Which is
Speaker 3: which is Beyonce?
Speaker 1: I know, we did no Beyonce. We talked a little
Speaker 1: Harry Styles and lastly, yeah, I know, I.
Speaker 2: Know the stock movers report from Bloomberg Radio. Check back
Speaker 2: with us throughout the day for the latest roundup of
Speaker 2: companies making news on Wall Street and for the latest
Speaker 2: market moving headlines. Listen to Bloomberg Radio Live, catch us
Speaker 2: on YouTube, Bloomberg dot com, and on Applecarplay and Android
Speaker 2: Auto the Bloomberg Business app.