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 3: I'm Tim Stanebeck along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. We're joined
Speaker 3: by Bloomberg, a news process. That reporter Isabelle Lee. A
Speaker 3: lot to choose.
Speaker 4: From today, A lot to choose from, but I made
Speaker 4: sure to choose double digit gains or the clients, because
Speaker 4: go big. It's Friday, So let's talk with block tickers XYZ.
Speaker 1: Which is also cool on its own.
Speaker 4: So shares are up around fifteen percent. This comes after
Speaker 4: the company said it was reducing its workforce by almost
Speaker 4: half in a bet that AI will just change labor productivity.
Speaker 4: So that amounts to some four thousand employees. And Jack
Speaker 4: Dorsey's company has been restructuring its business model since staffing
Speaker 4: in twenty twenty four. That's as the stock has slagged.
Speaker 4: And I want to bring up this point that they
Speaker 4: have really hired so much. They tripled their workforce between
Speaker 4: twenty nineteen to twenty twenty three, which is why analysts say,
Speaker 4: is it really AI or just a.
Speaker 5: Real pandemic over right, and like we heard that from
Speaker 5: a lot of companies, I feel like over the last
Speaker 5: couple of years. So is that what's going on or
Speaker 5: is it something more dramatic when it comes to AI.
Speaker 4: Because the movie which was announced that a share shareholder
Speaker 4: letter offered little details.
Speaker 3: Jack Dorsey did respond to some of that criticism. He said, yes,
Speaker 3: we over hired during COVID because I incorrectly built two
Speaker 3: separate company structures square in cash app rather than one,
Speaker 3: which we corrected mid twenty twenty four, but dismisses all
Speaker 3: the complexity we took on through lending banking and buy now,
Speaker 3: pay later, and that we're now targeting two million dollars
Speaker 3: in gross profit per person. Four x are pre COVID
Speaker 3: efficiency which stayed flat at five hundred thousand from twenty
Speaker 3: nineteen to twenty twenty four, and we have to do
Speaker 3: and run an efficient company better than most. So he
Speaker 3: says this is the way to make it more efficient.
Speaker 3: He's acknowledging that they over high, but this is the
Speaker 3: right there. You can see it on the screen, right.
Speaker 4: Yeah. They are investing heavily and in AI tools to
Speaker 4: run more efficiently. They have their own AI tool called Goose,
Speaker 4: like the singular version of geese. So, I mean, who knows.
Speaker 4: Only time will tell, but for now, investors are liking it.
Speaker 4: I mean, of fifteen percent, that's pretty big.
Speaker 1: Yeah, unless you can't do everything you need to do.
Speaker 3: The story here is is this just something that block
Speaker 3: is going to do or is this going to become commonplace?
Speaker 4: And that's the fear, I know, especially after the Citrini report.
Speaker 6: Yeah, we're just very true.
Speaker 1: Done do I like to do?
Speaker 5: Okay, Yeah, there are questions. We're going to dig into
Speaker 5: more of that later. Let's go to do a lingo.
Speaker 5: We just talked to the company's CEO.
Speaker 1: I know that was a good interview. Do a lingo. Tickers.
Speaker 4: The UOL shares are down more than seventeen percent after
Speaker 4: the company gave a fullier outlook that is below expectations.
Speaker 4: This is the lowest since February twenty twenty three. If
Speaker 4: you type si ns go, so is a language learning
Speaker 4: software and a lot of people are obsessed with this,
Speaker 4: including my team leader of Wildonna. She has a more
Speaker 4: than two thousand day streak and I said that is
Speaker 4: a little crazy. I mean, this is a thousand which.
Speaker 5: This means every day you're on the platform.
Speaker 6: Yes, exactly, I'm in three hundred and fifty chess nothing.
Speaker 1: I know that is nothing. But what are you learning language?
Speaker 6: She's ye, I do Spanish, but I did.
Speaker 4: Chess twenty she's doing Spanish.
Speaker 1: I have a five day streak I think five years ago.
Speaker 6: Not too late.
Speaker 1: But I'm committed to my job, not the language.
Speaker 5: Is it?
Speaker 2: Bells?
Speaker 5: Bosses?
Speaker 1: Are you Bona? Is my boss? So well done?
Speaker 4: Why are shares down? Because the company said that in
Speaker 4: they're drive to gain subscribers, this would me in slower
Speaker 4: earnings gross and narrower profit margins. I also feel like
Speaker 4: maybe this was a pandemic thing, you know, when people
Speaker 4: were stuck at home. Now I'm in between the office, travel,
Speaker 4: meeting friends, so maybe it could be that too.
Speaker 5: But they're a learning platform, so it's math, it's other things, right, So.
Speaker 1: They yeah, doing some math, yes, yes.
Speaker 6: Absolutely, mostly language.
Speaker 1: But time is finite. Wow.
Speaker 3: And Luis has talked about you just now, which if
Speaker 3: you missed, you can check it out on our podcast feed.
Speaker 6: But he did. Uh.
Speaker 3: He has in the past talked about what we need
Speaker 3: to we compete with. You know, anytime somebody opens their phone,
Speaker 3: so we compete with Netflix or non Netflix, Instagram, TikTok, TikTok,
Speaker 3: anything like.
Speaker 1: That, Bloomberg.
Speaker 6: That's why we need to make it fun.
Speaker 1: You just sit there and go exactly, there's meditation. Now
Speaker 1: it's very okay, let's go to Figs. Figs.
Speaker 4: Ticker is Figs f I GS So I have never
Speaker 4: worn Figs. I'm not a medical worker, but.
Speaker 1: A lot of my friends who are love it. They're
Speaker 1: coffee scrubs. Okay, exactly. So my friends in Asia they.
Speaker 5: Remember family members in the hospital and they were really
Speaker 5: cute exactly, and like you would go.
Speaker 4: To the nurse and like some they'd order here and
Speaker 4: I'd have to bring them back. And they're also like
Speaker 4: way more expensive than others. But then my friends would say, no,
Speaker 4: it's really worth it.
Speaker 1: They like them. Yes, it's the quality and stuff.
Speaker 4: So anyway, shares our op let's see twenty three percent.
Speaker 4: This is the most the highest since May twenty twenty two.
Speaker 4: The company results were much stronger than expected, prompting a
Speaker 4: lot of analyst upgrades. One of them is Goldman Sachs.
Speaker 4: They said that this shows momentum. Key Back also upgraded.
Speaker 4: They said the better than expected The results show that
Speaker 4: PIGS is focusing on delivering profitable, sustainable growth.
Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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