Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock mover's report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenovack, Romaine Bostik, and Katie Greyfeller.
Speaker 3: All right, guys, let's get to some of the individual
Speaker 3: gainers in today's session. I love this story. Tim and
Speaker 3: I were just talking about it. I think it's among
Speaker 3: our most read All Birds. I don't know if you
Speaker 3: guys bought them.
Speaker 2: We did in.
Speaker 3: Our home.
Speaker 1: Of those Whatever happened to those guys, whatever happened, apparently
Speaker 1: they discovered AI.
Speaker 3: Oh cool, All Birds no longer All Sneaks. Stock is
Speaker 3: soaring in today's session.
Speaker 1: Is that right?
Speaker 4: It's so yeah, we're closed. That's like a typical daily
Speaker 4: move for a stock. I don't know why you're questioning
Speaker 4: that move.
Speaker 3: Call. I know, all right, nicely happens all the time.
Speaker 3: The company inked a deal to sell off its footwear
Speaker 3: as it's back in March, So now All Birds is
Speaker 3: now all in on AI. The former shoemaker just days
Speaker 3: away from ceasing operations. It's not been easy the last
Speaker 3: few years, so it would pivot its business to AI
Speaker 3: compute infrastructure. The company executed a fifty million dollar convertible
Speaker 3: financing facility, and so they're going to fund the switch
Speaker 3: as it targets becoming a fully integrated GPU as a service,
Speaker 3: an AI native cloud solutions provider, and it's going to
Speaker 3: change the name. Yeah, werld new bird AI Cool?
Speaker 1: Okay, cool?
Speaker 3: Are you in on it?
Speaker 1: They kept giving me six hundred percent increase and that
Speaker 1: it now has a market cap of one hundred and
Speaker 1: forty eight million dollars million.
Speaker 3: No, you're not all in on.
Speaker 5: AI.
Speaker 1: I mean, it's a bold move, Cotton. We'll have to
Speaker 1: see where it goes.
Speaker 5: Can I just say it does remind me of simpler times,
Speaker 5: And I'm thinking specifically of the memestock era, because this
Speaker 5: felt very me me. I felt like I was back
Speaker 5: in twenty twenty one, which was a weird time. But
Speaker 5: you saw a lot of stories.
Speaker 4: Like this, Kaiti. We had a showback then.
Speaker 5: I know they canceled together.
Speaker 4: That's how long ago this was.
Speaker 3: It's it called the meme Stock Show.
Speaker 4: Oh kind of, but we did a lot of meme stocks.
Speaker 1: We certainly just love that showy.
Speaker 3: All right, let's move, all right, let's move along Snap.
Speaker 3: Let's go to Snap, guys. That was awesome.
Speaker 1: We reboot that. I mean, if they could bring back scrubs,
Speaker 1: bring that crypto iron.
Speaker 5: You know, scrubs. The scrubs boot was awesome. But it's
Speaker 5: not a thing for us like hurting cats.
Speaker 3: Good thing, Carol, y, I always have something else, Okay,
Speaker 3: stock Snap up as much almost ten percent of its
Speaker 3: ties today, finishing the day with the game of about
Speaker 3: seven point eight percent. This is what happens, I guess
Speaker 3: when you lay off roughly one thousand full time employee
Speaker 3: sixteen percent of its global workforce. As part of an
Speaker 3: effort by the CEO, Evan Spiegel to reduce costs and
Speaker 3: achieve profitability, job cuts in pullback and hiring will reduce
Speaker 3: now annualized cost base by more than five hundred million
Speaker 3: dollars by the second half of this year, according to
Speaker 3: the CEO. He said the cuts are necessary for Snap
Speaker 3: to buy three all birds. Sorry, go ahead, that's really funny.
Speaker 3: Said the cuts are necessary for Snap to boost efficiency
Speaker 3: as it pursues profitable growth, citing improvements and AI technology
Speaker 3: that lets Snap employees move more quickly and one more
Speaker 3: for you guys, because you know three is what we're
Speaker 3: allowed to do. Hymns and hers Health. That one was
Speaker 3: up almost fourteen percent, the tele health firm climbing after
Speaker 3: HHS Secretary Robert F.
Speaker 5: Kennedy Junior.
Speaker 3: So the FDA is ticking to remove twelve peptides from
Speaker 3: Category two restrictions. What's the matter is that?
Speaker 2: A laugh?
Speaker 1: No, just down seem very interested in us.
Speaker 3: Yeah, well he actually said I had to do it. Yeah,
Speaker 3: I actually was.
Speaker 4: I don't know what the deal is with these peptides,
Speaker 4: like are they safe?
Speaker 3: Well, apparently with the action that they're doing is going
Speaker 3: to restore regulated access and will immediately begin shifting demand
Speaker 3: away from the black market, according to our Secretary of
Speaker 3: christ On X. All right, you can read about it
Speaker 3: all on the Bloomberg.
Speaker 4: I want to get to some of the stocks that
Speaker 4: were on the decline today. Live Nation in the news.
Speaker 4: This story breaking this afternoon. A New York federal jury
Speaker 4: found that Live Nation Entertainment illegally monopolized live events industry
Speaker 4: had overcharged fans. Live Nation shares finishing down by six
Speaker 4: point three percent. The jury found that Live Nations monopoly
Speaker 4: led concertgoers to overpay, and the company illegally tied the
Speaker 4: use of company owned venues to its concert promotion services.
Speaker 4: Once again, Shares fell in today's session by six point
Speaker 4: three percent. It's the lowest that they've been since November
Speaker 4: of twenty twenty five. A couple more stories that have
Speaker 4: to do with earnings and understanding the consumer and macroeconomic conditions,
Speaker 4: starting with shares at ASML. Shares fell after the company
Speaker 4: gave a week outlook for the current quarter. Despite raising
Speaker 4: that full year salesfour the company sees net sales in
Speaker 4: the second quarter of eight point four billion to nine
Speaker 4: billion euros. The company expects net sales to be between
Speaker 4: thirty six and forty billion euro this year, increasing production
Speaker 4: to meet demand from tech firms for its advanced lithography machine.
Speaker 4: Still that was seen as conservative. Shares down two point
Speaker 4: four percent on the day today, And finally, great ticker
Speaker 4: do us brp ink it's the parent company of seed
Speaker 4: Jet Skis Ski Do Snowmobiles, can Am off road vehicles
Speaker 4: down all day today by more than thirty five percent.
Speaker 4: That's where it closed. The firm withdrew its financial outlook
Speaker 4: for the twenty twenty seven fiscal year. It says it
Speaker 4: faces three hundred and sixty three million dollar cost from
Speaker 4: recent changes by the Trump administration to its tariffs. We
Speaker 4: actually also saw other companies move lower in sympathy today.
Speaker 4: Polaris shares actually fell as well. You have one of
Speaker 4: these side by sides, remain one.
Speaker 1: Of these side by seas.
Speaker 4: Yeah, they're off road.
Speaker 1: No, they're kind of hard to keep in an York
Speaker 1: City can. But it gets to this idea though too,
Speaker 1: when we talk about the tariff thread, and particularly some
Speaker 1: of the comments we heard from the Treasury secretary. One
Speaker 1: reason why you saw transports lower, one reason why you
Speaker 1: saw a lot of industrial stocks lower. Just real quickly,
Speaker 1: let's check in on yields before Carol gets antsy here.
Speaker 1: We did see pretty much a shift across the curve
Speaker 1: here up about two basis points on the short end,
Speaker 1: but keep an eye on that long end. Three basis
Speaker 1: points on your ten year, three on the thirty year,
Speaker 1: and that is the big question mark going forward. Katie
Speaker 1: was referencing this earlier on the Close, the pre eminent
Speaker 1: program on Bloomberg Television, by the way, Carroll and Tim
Speaker 1: and this idea of that IMF repoard and really a
Speaker 1: lot of concerns right now about current debt levels, economic
Speaker 1: ripple effects and what type of yield investors are going
Speaker 1: to demand to hold US treasuries.
Speaker 3: All right now more than antsy, all right, good a wrap,
Speaker 3: thank you so much. All right, that'll do it for
Speaker 3: a cross platform recalling the closing. Now, you know, it's
Speaker 3: just not the same when you're not here. So it's
Speaker 3: good to have you.
Speaker 2: Back this 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 with the Bloomberg Business app.