WEBVTT - Meta Rises, Levi Soars, Chegg Jumps

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Tim Statbeck along with Carol Master. Let's take a

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<v Speaker 3>look at some stocks on the move today. With us

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<v Speaker 3>is a Bloomberg News equities reporter and deputy team leader

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<v Speaker 3>for US Equities, Carmen Reinicky, what are you watching?

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<v Speaker 4>Yeah, So the first one I'm looking at today is

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<v Speaker 4>Meta Platforms. Is this ticker me Eta, And you know,

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<v Speaker 4>the stock is up about seven percent right now. It's

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<v Speaker 4>a little bit off of its highs on the day,

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<v Speaker 4>but this is the best performer of the Megs seven.

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<v Speaker 4>So we saw some investors kind of moving back into those,

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<v Speaker 4>you know, risk on stocks earlier today. So what's happening

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<v Speaker 4>with Meta? The company debuted its latest artificial intelligence model.

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<v Speaker 4>It's called MEWS Spark and it was created by Meta

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<v Speaker 4>Superintelligence Labs. And this is important because this is sort

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<v Speaker 4>of the first release after Mark Zuckerberg said that they

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<v Speaker 4>were investing a lot of money into this, specifically into

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<v Speaker 4>this AI lab to keep up with competitors in the space.

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<v Speaker 1>It's a new Meta universe.

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<v Speaker 3>I still call it avado.

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<v Speaker 4>You call it?

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<v Speaker 3>What is it called avocado?

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<v Speaker 1>Avocado? Is? It was?

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<v Speaker 4>That?

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<v Speaker 3>The was the internal code for it. But now how

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<v Speaker 3>quickly things change. We're calling in the platforms, but mews, yeah,

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<v Speaker 3>call the meta platform. They're all in on.

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<v Speaker 1>I also like avocado. They moved away he did, okay, yeah,

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<v Speaker 1>but they're really in.

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<v Speaker 2>All right.

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<v Speaker 1>Sorry, you know, little levity needed today. Where should we

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<v Speaker 1>go next?

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<v Speaker 4>Yeah, so let's go to CHEG. So this is ticker

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<v Speaker 4>c HGG. Shares are up about twenty two percent right now,

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<v Speaker 4>a pretty big jump for them, most in a few

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<v Speaker 4>weeks here. So this is an online educational platform, and

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<v Speaker 4>shares are up so much because Galloway Capital Partners, an

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<v Speaker 4>activist investor, UH disclosed they have more than five percent

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<v Speaker 4>stake in the company, and they're also arguing for changes

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<v Speaker 4>to improve the stocks value, including separation of some of

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<v Speaker 4>its business units.

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<v Speaker 3>The stock has been beat up. It's right now in

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<v Speaker 3>eighty eight cent stock even with today's twenty more than

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<v Speaker 3>twenty one percent increase if you go back to twenty

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<v Speaker 3>twenty one, a little bit post pandemic ninety six dollars stock.

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<v Speaker 4>Well, this is one that really got caught in sort

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<v Speaker 4>of the AI losers pocket, right, you know, it's sort

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<v Speaker 4>of rife for you know, disruption, I guess, having artificial

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<v Speaker 4>artificial intelligence tools on the market. And it's actually something

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<v Speaker 4>that the investor that this activist Adventure mentions in his letter.

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<v Speaker 4>You know, he actually kind of applauded how the company

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<v Speaker 4>is sort of integrating AI and trying to keep up there.

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<v Speaker 1>Bruce Galloway, Right, yeah, hey, let's talk about Levi Strass.

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<v Speaker 1>We had a great conversation with the CEO and they

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<v Speaker 1>seem to be just firing on all cylinders. And yeah,

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<v Speaker 1>he felt really guilty because we didn't have Levi's on,

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<v Speaker 1>but I have a lot in my wardrobe. Full disclosure.

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<v Speaker 4>Well, same well Stoca story. Yes, the stock is doing

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<v Speaker 4>really well. It's up ten percent today. This is the

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<v Speaker 4>best intra day gain since July for this stock, so

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<v Speaker 4>doing really well. The company, you know, raised its projections

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<v Speaker 4>for the year. It had really solid quarterly results and

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<v Speaker 4>I know you guys also talked about the macro here

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<v Speaker 4>and how that's really important you know going forward.

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<v Speaker 1>I mean they talked about you know, their supply chains

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<v Speaker 1>around the world. They've done that for a long time.

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<v Speaker 1>And their collaborations with influenza.

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<v Speaker 3>You know the collaborations are cool. When I haven't heard

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<v Speaker 3>of most of the then you know they're speaking to

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<v Speaker 3>the telegraph.

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<v Speaker 1>The followers are social and we're like.

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<v Speaker 3>No, idea, who I doubt these people are? Which is

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<v Speaker 3>which is Beyonce?

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<v Speaker 1>I know, we did no Beyonce. We talked a little

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<v Speaker 1>Harry Styles and lastly, yeah, I know, I.

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<v Speaker 2>Know the stock movers report from Bloomberg Radio. Check back

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