Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: A little bit of wavering here after the CPI report,
Speaker 1: but we do have some individual companies that we're watching.
Speaker 1: We're going to get to more with that with Noura.
Speaker 1: Melinda Bloomberg, Television Markets Correspondent, Noura, what are you watching today?
Speaker 3: Well, let's take a look at meta platforms. Let's take
Speaker 3: our m ETA. We're seeing shares lower by about two percent.
Speaker 3: This is after some news that investors are digesting that
Speaker 3: the company is slashing more than one thousand jobs from
Speaker 3: it's reality Labs division. This is a plan to essentially
Speaker 3: redirect resources toward AI, wearables and phone features. I don't
Speaker 3: know if you guys remember some years back when everyone
Speaker 3: was talking about the metaverse, Well, data really take off
Speaker 3: in the way that they anticipated it would. There's this
Speaker 3: plan that we would do pretty much everything in the metaverse,
Speaker 3: whether it's shopping, eating, things like that, and it hasn't
Speaker 3: really taken off. So they are slashing and really reducing
Speaker 3: that division here. So you're seeing investors really trying to
Speaker 3: figure out how they feel about this in addition to
Speaker 3: the fact that we did.
Speaker 1: Why did they change the name of the cup?
Speaker 3: Why do they change the name?
Speaker 1: Well, that's a question for.
Speaker 3: Them, we'll have to ask.
Speaker 2: One time, Zuckerberg was betting big on the metaverse big.
Speaker 1: Then My favorite story was that he was in his
Speaker 1: house in Hawaii meeting with his team about how they
Speaker 1: would kind of loosen an investment in this in this technology.
Speaker 3: Yes, I remember seeing that Hawaii.
Speaker 1: Story is that when he put on a lot of
Speaker 1: sunscreen like it made his face all light.
Speaker 3: I remember that one.
Speaker 1: Yeah, that was all all the time though, Yeah, absolutely right.
Speaker 3: Second stock, Second stock, Well, we're looking at airlines. I've
Speaker 3: got Delta Airlines and particular in focus that's ticker DL.
Speaker 3: We're seeing shares down by about one point seven percent.
Speaker 3: This is after they provided a profit forecast missed analyst expectations.
Speaker 3: This essentially is underscoring the idea of a more cautious
Speaker 3: view for twenty twenty six. They're expecting full year earnings
Speaker 3: per share for twenty twenty six to be in the
Speaker 3: range of six dollars fifty cents to seven dollars and
Speaker 3: fifty cents the midpoint of that, falling shorten of estimates.
Speaker 3: But they did say that they plan to invest in
Speaker 3: their fleet, including a landmark order of Boeing seven eight
Speaker 3: to seven Dreamliners jets. But essentially we do still see
Speaker 3: the street not really liking this. Of course, we'll be
Speaker 3: hearing from some more airlines through this earning season.
Speaker 1: One more for US Nora. What else are you watching today?
Speaker 3: Let's take a look at L three Harris Technologies, that's
Speaker 3: ticker LHX. We're seeing shares up about two point seven percent.
Speaker 3: This is after they got the US Department of Defense
Speaker 3: investing in the company. They're set to invest in its
Speaker 3: missile unit with a one billion dollar convertible preferred security.
Speaker 3: This investment will significantly increase capacity to build solid rocket
Speaker 3: motors for US missiles. That's according to the company. But
Speaker 3: this really is just an underscoring of this idea of
Speaker 3: bolstering the US defense efforts increasing production of systems. And
Speaker 3: also when we think about air defense missiles and advanced
Speaker 3: strike missiles, we're really seeing a bet on that.
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