1
00:00:02,520 --> 00:00:07,040
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:08,560 --> 00:00:12,440
Speaker 2: The Stock Movers report, your roundup of companies making moves

3
00:00:12,480 --> 00:00:15,880
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

4
00:00:16,800 --> 00:00:19,439
Speaker 3: I'm Tim Stanebeck along with Carol Masser. Let's take a

5
00:00:19,480 --> 00:00:21,239
Speaker 3: look at some stocks on the move today. We're joined

6
00:00:21,239 --> 00:00:25,320
Speaker 3: by Bloomberg, a news process. That reporter Isabelle Lee. A

7
00:00:25,520 --> 00:00:27,040
Speaker 3: lot to choose.

8
00:00:26,760 --> 00:00:28,760
Speaker 4: From today, A lot to choose from, but I made

9
00:00:28,800 --> 00:00:32,040
Speaker 4: sure to choose double digit gains or the clients, because

10
00:00:32,240 --> 00:00:36,080
Speaker 4: go big. It's Friday, So let's talk with block tickers XYZ.

11
00:00:35,800 --> 00:00:37,360
Speaker 1: Which is also cool on its own.

12
00:00:37,760 --> 00:00:41,440
Speaker 4: So shares are up around fifteen percent. This comes after

13
00:00:41,479 --> 00:00:44,640
Speaker 4: the company said it was reducing its workforce by almost

14
00:00:44,680 --> 00:00:47,920
Speaker 4: half in a bet that AI will just change labor productivity.

15
00:00:48,120 --> 00:00:50,720
Speaker 4: So that amounts to some four thousand employees. And Jack

16
00:00:50,760 --> 00:00:54,240
Speaker 4: Dorsey's company has been restructuring its business model since staffing

17
00:00:54,280 --> 00:00:57,720
Speaker 4: in twenty twenty four. That's as the stock has slagged.

18
00:00:57,760 --> 00:00:59,760
Speaker 4: And I want to bring up this point that they

19
00:00:59,760 --> 00:01:02,880
Speaker 4: have really hired so much. They tripled their workforce between

20
00:01:02,920 --> 00:01:05,920
Speaker 4: twenty nineteen to twenty twenty three, which is why analysts say,

21
00:01:06,040 --> 00:01:09,240
Speaker 4: is it really AI or just a.

22
00:01:09,240 --> 00:01:13,080
Speaker 5: Real pandemic over right, and like we heard that from

23
00:01:13,120 --> 00:01:14,760
Speaker 5: a lot of companies, I feel like over the last

24
00:01:14,760 --> 00:01:17,360
Speaker 5: couple of years. So is that what's going on or

25
00:01:17,400 --> 00:01:19,320
Speaker 5: is it something more dramatic when it comes to AI.

26
00:01:19,560 --> 00:01:23,160
Speaker 4: Because the movie which was announced that a share shareholder

27
00:01:23,240 --> 00:01:25,080
Speaker 4: letter offered little details.

28
00:01:25,319 --> 00:01:29,000
Speaker 3: Jack Dorsey did respond to some of that criticism. He said, yes,

29
00:01:29,080 --> 00:01:32,480
Speaker 3: we over hired during COVID because I incorrectly built two

30
00:01:32,560 --> 00:01:35,520
Speaker 3: separate company structures square in cash app rather than one,

31
00:01:35,920 --> 00:01:38,680
Speaker 3: which we corrected mid twenty twenty four, but dismisses all

32
00:01:38,720 --> 00:01:41,960
Speaker 3: the complexity we took on through lending banking and buy now,

33
00:01:42,000 --> 00:01:44,119
Speaker 3: pay later, and that we're now targeting two million dollars

34
00:01:44,160 --> 00:01:46,800
Speaker 3: in gross profit per person. Four x are pre COVID

35
00:01:46,840 --> 00:01:49,600
Speaker 3: efficiency which stayed flat at five hundred thousand from twenty

36
00:01:49,680 --> 00:01:51,880
Speaker 3: nineteen to twenty twenty four, and we have to do

37
00:01:52,000 --> 00:01:56,720
Speaker 3: and run an efficient company better than most. So he

38
00:01:57,120 --> 00:01:58,720
Speaker 3: says this is the way to make it more efficient.

39
00:01:58,760 --> 00:02:00,840
Speaker 3: He's acknowledging that they over high, but this is the

40
00:02:00,920 --> 00:02:02,800
Speaker 3: right there. You can see it on the screen, right.

41
00:02:02,840 --> 00:02:05,680
Speaker 4: Yeah. They are investing heavily and in AI tools to

42
00:02:05,720 --> 00:02:08,840
Speaker 4: run more efficiently. They have their own AI tool called Goose,

43
00:02:09,560 --> 00:02:14,239
Speaker 4: like the singular version of geese. So, I mean, who knows.

44
00:02:14,360 --> 00:02:17,040
Speaker 4: Only time will tell, but for now, investors are liking it.

45
00:02:17,080 --> 00:02:19,640
Speaker 4: I mean, of fifteen percent, that's pretty big.

46
00:02:20,520 --> 00:02:22,680
Speaker 1: Yeah, unless you can't do everything you need to do.

47
00:02:22,800 --> 00:02:25,400
Speaker 3: The story here is is this just something that block

48
00:02:25,520 --> 00:02:28,000
Speaker 3: is going to do or is this going to become commonplace?

49
00:02:28,040 --> 00:02:31,760
Speaker 4: And that's the fear, I know, especially after the Citrini report.

50
00:02:32,600 --> 00:02:35,160
Speaker 6: Yeah, we're just very true.

51
00:02:35,200 --> 00:02:36,760
Speaker 1: Done do I like to do?

52
00:02:36,840 --> 00:02:38,760
Speaker 5: Okay, Yeah, there are questions. We're going to dig into

53
00:02:38,880 --> 00:02:41,360
Speaker 5: more of that later. Let's go to do a lingo.

54
00:02:41,600 --> 00:02:43,680
Speaker 5: We just talked to the company's CEO.

55
00:02:44,040 --> 00:02:46,320
Speaker 1: I know that was a good interview. Do a lingo. Tickers.

56
00:02:46,400 --> 00:02:50,000
Speaker 4: The UOL shares are down more than seventeen percent after

57
00:02:50,040 --> 00:02:53,160
Speaker 4: the company gave a fullier outlook that is below expectations.

58
00:02:53,520 --> 00:02:57,080
Speaker 4: This is the lowest since February twenty twenty three. If

59
00:02:57,120 --> 00:03:01,960
Speaker 4: you type si ns go, so is a language learning

60
00:03:02,000 --> 00:03:04,200
Speaker 4: software and a lot of people are obsessed with this,

61
00:03:04,280 --> 00:03:06,760
Speaker 4: including my team leader of Wildonna. She has a more

62
00:03:06,800 --> 00:03:10,000
Speaker 4: than two thousand day streak and I said that is

63
00:03:10,080 --> 00:03:12,919
Speaker 4: a little crazy. I mean, this is a thousand which.

64
00:03:12,680 --> 00:03:14,560
Speaker 5: This means every day you're on the platform.

65
00:03:14,880 --> 00:03:19,160
Speaker 6: Yes, exactly, I'm in three hundred and fifty chess nothing.

66
00:03:19,840 --> 00:03:23,359
Speaker 1: I know that is nothing. But what are you learning language?

67
00:03:23,360 --> 00:03:25,480
Speaker 6: She's ye, I do Spanish, but I did.

68
00:03:25,400 --> 00:03:28,040
Speaker 4: Chess twenty she's doing Spanish.

69
00:03:28,080 --> 00:03:30,400
Speaker 1: I have a five day streak I think five years ago.

70
00:03:31,360 --> 00:03:31,880
Speaker 6: Not too late.

71
00:03:32,160 --> 00:03:36,200
Speaker 1: But I'm committed to my job, not the language.

72
00:03:37,120 --> 00:03:37,280
Speaker 5: Is it?

73
00:03:37,280 --> 00:03:37,600
Speaker 2: Bells?

74
00:03:37,600 --> 00:03:38,040
Speaker 5: Bosses?

75
00:03:38,080 --> 00:03:42,520
Speaker 1: Are you Bona? Is my boss? So well done?

76
00:03:42,680 --> 00:03:46,840
Speaker 4: Why are shares down? Because the company said that in

77
00:03:46,880 --> 00:03:49,680
Speaker 4: they're drive to gain subscribers, this would me in slower

78
00:03:49,680 --> 00:03:52,720
Speaker 4: earnings gross and narrower profit margins. I also feel like

79
00:03:53,200 --> 00:03:55,040
Speaker 4: maybe this was a pandemic thing, you know, when people

80
00:03:55,040 --> 00:03:59,160
Speaker 4: were stuck at home. Now I'm in between the office, travel,

81
00:03:59,240 --> 00:04:01,680
Speaker 4: meeting friends, so maybe it could be that too.

82
00:04:01,800 --> 00:04:04,680
Speaker 5: But they're a learning platform, so it's math, it's other things, right, So.

83
00:04:04,840 --> 00:04:08,920
Speaker 1: They yeah, doing some math, yes, yes.

84
00:04:08,800 --> 00:04:10,680
Speaker 6: Absolutely, mostly language.

85
00:04:10,320 --> 00:04:12,120
Speaker 1: But time is finite. Wow.

86
00:04:12,680 --> 00:04:15,840
Speaker 3: And Luis has talked about you just now, which if

87
00:04:15,840 --> 00:04:17,600
Speaker 3: you missed, you can check it out on our podcast feed.

88
00:04:17,640 --> 00:04:19,080
Speaker 6: But he did. Uh.

89
00:04:19,160 --> 00:04:21,080
Speaker 3: He has in the past talked about what we need

90
00:04:21,080 --> 00:04:23,960
Speaker 3: to we compete with. You know, anytime somebody opens their phone,

91
00:04:23,960 --> 00:04:28,679
Speaker 3: so we compete with Netflix or non Netflix, Instagram, TikTok, TikTok,

92
00:04:28,680 --> 00:04:29,160
Speaker 3: anything like.

93
00:04:29,080 --> 00:04:29,800
Speaker 1: That, Bloomberg.

94
00:04:29,880 --> 00:04:31,039
Speaker 6: That's why we need to make it fun.

95
00:04:31,920 --> 00:04:35,800
Speaker 1: You just sit there and go exactly, there's meditation. Now

96
00:04:35,839 --> 00:04:38,080
Speaker 1: it's very okay, let's go to Figs. Figs.

97
00:04:38,120 --> 00:04:41,839
Speaker 4: Ticker is Figs f I GS So I have never

98
00:04:41,880 --> 00:04:43,680
Speaker 4: worn Figs. I'm not a medical worker, but.

99
00:04:43,600 --> 00:04:47,080
Speaker 1: A lot of my friends who are love it. They're

100
00:04:47,160 --> 00:04:51,720
Speaker 1: coffee scrubs. Okay, exactly. So my friends in Asia they.

101
00:04:51,800 --> 00:04:54,240
Speaker 5: Remember family members in the hospital and they were really

102
00:04:54,320 --> 00:04:55,719
Speaker 5: cute exactly, and like you would go.

103
00:04:55,720 --> 00:04:58,640
Speaker 4: To the nurse and like some they'd order here and

104
00:04:58,680 --> 00:05:00,520
Speaker 4: I'd have to bring them back. And they're also like

105
00:05:01,440 --> 00:05:03,960
Speaker 4: way more expensive than others. But then my friends would say, no,

106
00:05:04,040 --> 00:05:04,800
Speaker 4: it's really worth it.

107
00:05:04,920 --> 00:05:07,200
Speaker 1: They like them. Yes, it's the quality and stuff.

108
00:05:07,240 --> 00:05:10,839
Speaker 4: So anyway, shares our op let's see twenty three percent.

109
00:05:10,960 --> 00:05:15,120
Speaker 4: This is the most the highest since May twenty twenty two.

110
00:05:16,160 --> 00:05:19,560
Speaker 4: The company results were much stronger than expected, prompting a

111
00:05:19,600 --> 00:05:21,880
Speaker 4: lot of analyst upgrades. One of them is Goldman Sachs.

112
00:05:21,880 --> 00:05:25,280
Speaker 4: They said that this shows momentum. Key Back also upgraded.

113
00:05:25,320 --> 00:05:27,400
Speaker 4: They said the better than expected The results show that

114
00:05:27,440 --> 00:05:30,800
Speaker 4: PIGS is focusing on delivering profitable, sustainable growth.

115
00:05:31,960 --> 00:05:35,960
Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with

116
00:05:36,080 --> 00:05:38,640
Speaker 2: us throughout the day for the latest roundup of companies

117
00:05:38,720 --> 00:05:41,800
Speaker 2: making news on Wall Street and for the latest market

118
00:05:41,839 --> 00:05:46,320
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

119
00:05:46,400 --> 00:05:49,880
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with

120
00:05:49,960 --> 00:05:51,440
Speaker 2: the Bloomberg Business app.