WEBVTT - Meta Platforms Falls, Delta Air Lines Drops, L3Harris Technologies Rises

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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 1>A little bit of wavering here after the CPI report,

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<v Speaker 1>but we do have some individual companies that we're watching.

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<v Speaker 1>We're going to get to more with that with Noura.

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<v Speaker 1>Melinda Bloomberg, Television Markets Correspondent, Noura, what are you watching today?

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<v Speaker 3>Well, let's take a look at meta platforms. Let's take

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<v Speaker 3>our m ETA. We're seeing shares lower by about two percent.

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<v Speaker 3>This is after some news that investors are digesting that

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<v Speaker 3>the company is slashing more than one thousand jobs from

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<v Speaker 3>it's reality Labs division. This is a plan to essentially

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<v Speaker 3>redirect resources toward AI, wearables and phone features. I don't

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<v Speaker 3>know if you guys remember some years back when everyone

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<v Speaker 3>was talking about the metaverse, Well, data really take off

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<v Speaker 3>in the way that they anticipated it would. There's this

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<v Speaker 3>plan that we would do pretty much everything in the metaverse,

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<v Speaker 3>whether it's shopping, eating, things like that, and it hasn't

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<v Speaker 3>really taken off. So they are slashing and really reducing

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<v Speaker 3>that division here. So you're seeing investors really trying to

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<v Speaker 3>figure out how they feel about this in addition to

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<v Speaker 3>the fact that we did.

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<v Speaker 1>Why did they change the name of the cup?

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<v Speaker 3>Why do they change the name?

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<v Speaker 1>Well, that's a question for.

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<v Speaker 3>Them, we'll have to ask.

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<v Speaker 2>One time, Zuckerberg was betting big on the metaverse big.

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<v Speaker 1>Then My favorite story was that he was in his

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<v Speaker 1>house in Hawaii meeting with his team about how they

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<v Speaker 1>would kind of loosen an investment in this in this technology.

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<v Speaker 3>Yes, I remember seeing that Hawaii.

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<v Speaker 1>Story is that when he put on a lot of

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<v Speaker 1>sunscreen like it made his face all light.

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<v Speaker 3>I remember that one.

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<v Speaker 1>Yeah, that was all all the time though, Yeah, absolutely right.

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<v Speaker 3>Second stock, Second stock, Well, we're looking at airlines. I've

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<v Speaker 3>got Delta Airlines and particular in focus that's ticker DL.

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<v Speaker 3>We're seeing shares down by about one point seven percent.

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<v Speaker 3>This is after they provided a profit forecast missed analyst expectations.

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<v Speaker 3>This essentially is underscoring the idea of a more cautious

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<v Speaker 3>view for twenty twenty six. They're expecting full year earnings

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<v Speaker 3>per share for twenty twenty six to be in the

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<v Speaker 3>range of six dollars fifty cents to seven dollars and

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<v Speaker 3>fifty cents the midpoint of that, falling shorten of estimates.

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<v Speaker 3>But they did say that they plan to invest in

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<v Speaker 3>their fleet, including a landmark order of Boeing seven eight

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<v Speaker 3>to seven Dreamliners jets. But essentially we do still see

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<v Speaker 3>the street not really liking this. Of course, we'll be

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<v Speaker 3>hearing from some more airlines through this earning season.

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<v Speaker 1>One more for US Nora. What else are you watching today?

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<v Speaker 3>Let's take a look at L three Harris Technologies, that's

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<v Speaker 3>ticker LHX. We're seeing shares up about two point seven percent.

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<v Speaker 3>This is after they got the US Department of Defense

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<v Speaker 3>investing in the company. They're set to invest in its

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<v Speaker 3>missile unit with a one billion dollar convertible preferred security.

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<v Speaker 3>This investment will significantly increase capacity to build solid rocket

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<v Speaker 3>motors for US missiles. That's according to the company. But

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<v Speaker 3>this really is just an underscoring of this idea of

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<v Speaker 3>bolstering the US defense efforts increasing production of systems. And

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<v Speaker 3>also when we think about air defense missiles and advanced

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<v Speaker 3>strike missiles, we're really seeing a bet on that.

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<v Speaker 2>Here the stock mover's report from Bloomberg Radio. Check back

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