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.
Speaker 2: Let's take a look at some stacks on the move
Speaker 2: today with the Lexus christoffers.
Speaker 3: All right, guys, I want to start with Snap. This
Speaker 3: is the parent of Snapchat, up seven percent tools. It's
Speaker 3: going to cut one thousand jobs. That's about sixteen percent
Speaker 3: of its workforce. Again looking to cut costs here, but
Speaker 3: it did provide an upbeat sales outlook, so that's also
Speaker 3: adding to the stock price rising today. So this is
Speaker 3: a social media platform known for those short form videos
Speaker 3: that disappear after being viewed, which I still don't understand that.
Speaker 3: Why would you post it and then want it to
Speaker 3: go away? But the kids apparently like it. Four hundred
Speaker 3: and seventy seven million daily active users, so lots of
Speaker 3: people see value in it. CEO Evan Spiegel said the
Speaker 3: cuts are necessary to boost efficiency. He also cited improvements
Speaker 3: in AI that let Snap employees move more quickly. I
Speaker 3: guess that means just get more things done. The company
Speaker 3: is also not going to fill three hundred open roles
Speaker 3: snapstock is down about thirty one percent so far this year.
Speaker 3: It's been facing lots of different challenges, including lawmakers and
Speaker 3: regulators who want to enforce social media bands for teams
Speaker 3: that would be part of it for them. So they
Speaker 3: also are going to come out with augmented reality glasses
Speaker 3: that they're supposed to debut later this year, and it's
Speaker 3: leaning heavily on outside firms to power AI. They actually
Speaker 3: had to deal with perplexity that fell through recently and
Speaker 3: a lot of its rivals are, you know, building out
Speaker 3: their own AI and so snap is sort of taking
Speaker 3: a different approach. Let's move on to Broadcom. Broadcom stock
Speaker 3: having a good morning here, the chip designer announcing an
Speaker 3: extended partnership with Facebook's parent Meta to develop custom AI processors.
Speaker 3: They're going to serve as the foundational backbone for Meta's
Speaker 3: deployment of state of the art AI data centers, and
Speaker 3: they're going to be able to use that across their platform.
Speaker 3: So we're talking about WhatsApp, Instagram threads, prompting a number
Speaker 3: of positive analyst commentary today as well.
Speaker 2: David Sarbion moments ago, it's this number one large kit
Speaker 2: holding time YEP as what else do you have.
Speaker 3: I've got Robinhood. So this is a good one. Shares
Speaker 3: are hire here because the SEC approved some important changes
Speaker 3: to the cryptocurrency exchange. So they're actually saying that now
Speaker 3: there are these new rules so that margin account holders
Speaker 3: who make four or more day trades within a five
Speaker 3: business within five business days no longer have to keep
Speaker 3: twenty five thousand dollars in their accounts, which effectively, I
Speaker 3: guess shut out these smaller traders. So in essence, now
Speaker 3: regular retail investors will have more freedom. They don't have
Speaker 3: to worry about these margin calls, and so they're thinking
Speaker 3: it's going to lead to more business for robin Hood.
Speaker 2: Now they're path breaking to say, you got one more,
Speaker 2: you got a bonus around here?
Speaker 3: Yeah, let's do American Eagle Outfitters for a bonus up
Speaker 3: about five percent. It's got a new ad campaign with
Speaker 3: actress Simmy Sweeney. Really it's true, no relation to Paul Sweeney, No,
Speaker 3: not that I know, okay, but she you know, they
Speaker 3: had these ads with her last year. They proved controversial, okay,
Speaker 3: but they helped sales apparently, and they said we're going
Speaker 3: to bring her back. So they are this new campaign
Speaker 3: going to focus on gene shorts, I guess for the summer,
Speaker 3: so get ready to see them, you know, plastered on
Speaker 3: buses and elsewhere in your neighborhood.
Speaker 2: I researched this like there was an uproar about this, right.
Speaker 3: There really was because they used the word genes and
Speaker 3: then genes like g E N E S. Yeah, okay,
Speaker 3: like talking about eugenics and whether that's right now?
Speaker 2: Baby Riboso, okay, was the Sydney Sweeney of nineteen seventy one.
Speaker 2: It was laying ski boots and there was every dorm
Speaker 2: room at a poster west of the Mississippi of Baby
Speaker 2: Riboso in an they had for laying skin.
Speaker 3: Is that all she was wearing?
Speaker 2: No, No, she was wearing other stuff as well. But
Speaker 2: you know, I, just as you guys are doing stock movers,
Speaker 2: I was researching miss Sweeney, and you know, I don't
Speaker 2: I'm sorry, I don't get the up wars. She's moving jeans, right.
Speaker 3: She is, And the investors seemed to like it because
Speaker 3: Stalk is up American Eagle Outfitters. I wonder what they're
Speaker 3: paying her for that ad campaign that I'd like to know. Well,
Speaker 3: I know that in there is that in the earning.
Speaker 2: I don't know the numbers in front of me, but
Speaker 2: huge social media success.
Speaker 3: Big time. They know your audience.
Speaker 1: This stock mover's report from Bloomberg Radio. Check back with
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