Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data. I'm Jim Stanovec along
Speaker 1: with Carol Master. Let's take a look at some stocks
Speaker 1: on the move this week. We're joined by Bloomberg Television
Speaker 1: Markets correspondent Nora Melinda nor A. You're watching the week?
Speaker 2: Where do you want to start? A lot happened this week.
Speaker 2: I feel like there's been a lot to digest.
Speaker 1: Yeah, a lot of earnings, Yeah, totally.
Speaker 2: Let's start with our best performing stock this week. That
Speaker 2: was Cisco in the S and P five hundred taker CSCO.
Speaker 2: Of course, we did see some of its peers being
Speaker 2: pulled up with it, the stock getting twenty two percent
Speaker 2: in the past five days alone. This is, of course,
Speaker 2: after the company delivered better than expected sales forecast. They
Speaker 2: also did announce plans to cut thousands of jobs. They
Speaker 2: really want to focus on the fast growing AI market
Speaker 2: that we've been talking so much about this year and previously.
Speaker 2: They did say that the layoffs will affect less than
Speaker 2: four thousand jobs, but you know, the people are really
Speaker 2: celebrating the fact that they are really fixating their focus
Speaker 2: on artificial intelligence, and that's what investors really just want
Speaker 2: to hear in this moment.
Speaker 1: Stock is a fifty three percent year to date.
Speaker 2: Cisco. Yeah, go figure, super interesting. No, I mean I
Speaker 2: think they got the memo and have certainly been all in,
Speaker 2: let's go to Carvana. Yes, Carvana. So this one on
Speaker 2: the flip side, shares lower by about fourteen percent this week.
Speaker 2: This is a stock, of course, that we know tends
Speaker 2: to be high beta, high momentum, so not uncommon to
Speaker 2: see volatile swings from a name like this Take our
Speaker 2: cv NA, So we did see shares of course lower.
Speaker 2: This is after people are still digesting how they feel
Speaker 2: about the margins and the company. Of course, we know
Speaker 2: also this year they did have some short cellar reports
Speaker 2: coming out of Gotham City, and so investors are really
Speaker 2: grappling with how they feel about this name more broadly,
Speaker 2: and we do know that they did have a stock
Speaker 2: split that happened to one for five and so or
Speaker 2: sorry excuse me, five for one, and so unless are
Speaker 2: still kind of debating how they feel about that, and
Speaker 2: of course that also adds some volatility. So this is
Speaker 2: one of the names selling off with the macro of course,
Speaker 2: under in the background and everything. One of those speculative
Speaker 2: names like Carvana you're going to see get hits on fire.
Speaker 1: Though during the pandemic, right.
Speaker 2: It was that name and a big ground that thing.
Speaker 2: It's been right over, yeah.
Speaker 1: All over, speaking of up and down, but certainly up
Speaker 1: in a big way.
Speaker 2: Intel Intel, Now, this was a pretty interesting week for
Speaker 2: Intel shares, down about thirteen percent over the past five days.
Speaker 1: Seeing it's so not a good week, but it's been
Speaker 1: on a tick.
Speaker 2: It has been on a tear. Now that let's it's
Speaker 2: gone into context right this week, Yes, we're during the
Speaker 2: week and then we'll get to the year. Okay, the
Speaker 2: year though we do see up one hundred and ninety
Speaker 2: five percent, right, so stark number that we're looking at,
Speaker 2: but it is on its six straight day of losses
Speaker 2: we are seeing. Of course, it's broader sell off in
Speaker 2: artificial intelligence. When people are seeing any sort of risk
Speaker 2: off sentiment, you're going to see names like Intel getting hit.
Speaker 2: But when you think about fundamentals and you think about
Speaker 2: how the street is viewing it, this is a stock
Speaker 2: that's really been on its air, but taking a breather.
Speaker 2: This week.
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