WEBVTT - Weekly Roundup: Cisco Soared, Ford Jumped, Intel Sunk

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data. I'm Jim Stanovec along

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<v Speaker 1>with Carol Master. Let's take a look at some stocks

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<v Speaker 1>on the move this week. We're joined by Bloomberg Television

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<v Speaker 1>Markets correspondent Nora Melinda nor A. You're watching the week?

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<v Speaker 2>Where do you want to start? A lot happened this week.

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<v Speaker 2>I feel like there's been a lot to digest.

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<v Speaker 1>Yeah, a lot of earnings, Yeah, totally.

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<v Speaker 2>Let's start with our best performing stock this week. That

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<v Speaker 2>was Cisco in the S and P five hundred taker CSCO.

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<v Speaker 2>Of course, we did see some of its peers being

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<v Speaker 2>pulled up with it, the stock getting twenty two percent

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<v Speaker 2>in the past five days alone. This is, of course,

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<v Speaker 2>after the company delivered better than expected sales forecast. They

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<v Speaker 2>also did announce plans to cut thousands of jobs. They

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<v Speaker 2>really want to focus on the fast growing AI market

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<v Speaker 2>that we've been talking so much about this year and previously.

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<v Speaker 2>They did say that the layoffs will affect less than

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<v Speaker 2>four thousand jobs, but you know, the people are really

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<v Speaker 2>celebrating the fact that they are really fixating their focus

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<v Speaker 2>on artificial intelligence, and that's what investors really just want

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<v Speaker 2>to hear in this moment.

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<v Speaker 1>Stock is a fifty three percent year to date.

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<v Speaker 2>Cisco. Yeah, go figure, super interesting. No, I mean I

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<v Speaker 2>think they got the memo and have certainly been all in,

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<v Speaker 2>let's go to Carvana. Yes, Carvana. So this one on

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<v Speaker 2>the flip side, shares lower by about fourteen percent this week.

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<v Speaker 2>This is a stock, of course, that we know tends

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<v Speaker 2>to be high beta, high momentum, so not uncommon to

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<v Speaker 2>see volatile swings from a name like this Take our

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<v Speaker 2>cv NA, So we did see shares of course lower.

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<v Speaker 2>This is after people are still digesting how they feel

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<v Speaker 2>about the margins and the company. Of course, we know

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<v Speaker 2>also this year they did have some short cellar reports

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<v Speaker 2>coming out of Gotham City, and so investors are really

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<v Speaker 2>grappling with how they feel about this name more broadly,

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<v Speaker 2>and we do know that they did have a stock

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<v Speaker 2>split that happened to one for five and so or

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<v Speaker 2>sorry excuse me, five for one, and so unless are

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<v Speaker 2>still kind of debating how they feel about that, and

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<v Speaker 2>of course that also adds some volatility. So this is

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<v Speaker 2>one of the names selling off with the macro of course,

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<v Speaker 2>under in the background and everything. One of those speculative

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<v Speaker 2>names like Carvana you're going to see get hits on fire.

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<v Speaker 1>Though during the pandemic, right.

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<v Speaker 2>It was that name and a big ground that thing.

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<v Speaker 2>It's been right over, yeah.

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<v Speaker 1>All over, speaking of up and down, but certainly up

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<v Speaker 1>in a big way.

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<v Speaker 2>Intel Intel, Now, this was a pretty interesting week for

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<v Speaker 2>Intel shares, down about thirteen percent over the past five days.

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<v Speaker 1>Seeing it's so not a good week, but it's been

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<v Speaker 1>on a tick.

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<v Speaker 2>It has been on a tear. Now that let's it's

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<v Speaker 2>gone into context right this week, Yes, we're during the

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<v Speaker 2>week and then we'll get to the year. Okay, the

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<v Speaker 2>year though we do see up one hundred and ninety

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<v Speaker 2>five percent, right, so stark number that we're looking at,

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<v Speaker 2>but it is on its six straight day of losses

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<v Speaker 2>we are seeing. Of course, it's broader sell off in

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<v Speaker 2>artificial intelligence. When people are seeing any sort of risk

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<v Speaker 2>off sentiment, you're going to see names like Intel getting hit.

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<v Speaker 2>But when you think about fundamentals and you think about

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<v Speaker 2>how the street is viewing it, this is a stock

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<v Speaker 2>that's really been on its air, but taking a breather.

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<v Speaker 2>This week.

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<v Speaker 1>The Stockmovers Report from Bloomberg Radio. Check back with us

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<v Speaker 1>throughout the day for the latest roundup of companies making

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