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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market harnessing the power of Bloomberg data.

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Speaker 1: Let's take a look at some stocks in the move today.

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Speaker 1: Alexis Christophers.

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Speaker 3: Let's start with Jack Dorsey's company. It's called Block. So

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Speaker 3: this is the company that adds in cash, app and Square,

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Speaker 3: the digital payments companies. This stock is on fire this morning.

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Speaker 3: It is up nineteen percent. Ticker symbol XYZ. So here's

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Speaker 3: the news. Block is going to slash its workforce in half.

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Speaker 3: It is cutting about four thousand jobs. It's a move

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Speaker 3: the company describes as a bet on artificial intelligence changing

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Speaker 3: the future of the job market. We know that Block

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Speaker 3: has invested very heavily here in AI tools. It's even

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Speaker 3: got its own tool, it's called Goose. I haven't used it,

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Speaker 3: but they believe many companies will ultimately have to make

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Speaker 3: similar moves like cutting jobs due to AI. But you know,

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Speaker 3: some analysts are now questioning whether companies are genuinely being

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Speaker 3: transformed by artificial intelligence or are they simply using it

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Speaker 3: as a rationale for costs.

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Speaker 4: So you do that ten percent, not fifty percent this

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Speaker 4: goes to what I said, I thought, just personally along

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Speaker 4: that again, AIS can be a significant net destroyer of

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Speaker 4: jobs and not going to be this. Oh, don't worry,

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Speaker 4: they'll find different things to do. I'm not buying that

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Speaker 4: for a minute.

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Speaker 1: Yeah, this is one of our guests said weeks and

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Speaker 1: weeks ago, they're getting out in front. You know, it's

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Speaker 1: horse and cart, and the horse right now seems to

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Speaker 1: be corporation saying let's go, let's go, let's go, even

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Speaker 1: before the implementation. Yeah, yeah, what do you got next.

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Speaker 3: I've got flutter. It is not fluttering upward though it

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Speaker 3: is down eleven percent. So this is the company that

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Speaker 3: owns fan Duel out with fourth quarter results falling short

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Speaker 3: of estimates. It says it's due to slower new customers

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Speaker 3: signups and moderating growth in wager. It's also came out

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Speaker 3: with an annual outlook that underwhelmed investors. Look at the

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Speaker 3: end of the day, the NFL season was a disappointment

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Speaker 3: for gamblers. You had big wins for sports books or

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Speaker 3: early in the season that may have given customers, they said,

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Speaker 3: less money to spend later on, and then in the

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Speaker 3: second half of the season, fewer favorite teams made the playoffs,

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Speaker 3: which I think is a real thing. Right, you had

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Speaker 3: less people wanting to wager the.

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Speaker 1: Next number of years into this experiment. Are we learning

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Speaker 1: as a society that this is a good way to

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Speaker 1: hand over money to somebody else?

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Speaker 3: Gambling?

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Speaker 1: Ry edgers, folks. We have a blueber intelligence and expert

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Speaker 1: on this. Yeah, and I'm fair. We got to get

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Speaker 1: Brian out of here, like year two, year three, year

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Speaker 1: four into this. Do we have a collective memory We're

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Speaker 1: not going to make money with Vanduel.

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Speaker 4: I don't know. I just I think I just think

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Speaker 4: more about the societal issues here. More and more people

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Speaker 4: are gambling, and I don't think that's in doing the

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Speaker 4: sports betting because it's so easy.

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Speaker 3: But here's the thing, it's they're changing how they're gambling.

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Speaker 3: Because Flutterstock is down forty three percent this year, just

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Speaker 3: year to date, it's because investors are worried about the

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Speaker 3: impact of the prediction market. It's like Calshie and Polymarket.

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Speaker 3: But meantime, Flutter CEO said today there is quote no

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Speaker 3: meaningful impact on his business from those companies, but starts going.

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Speaker 1: On what the Red Sox are going to do next?

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Speaker 3: Dual Lingo. I love I use this app. Sometimes people

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Speaker 3: say it's pretty good. It's pretty good. It's got the

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Speaker 3: little green owl mascot kind of cute. But the shares

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Speaker 3: are tumbling twenty five percent here it's a language learning

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Speaker 3: software company. Gave a full year outlook that's below expectations.

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Speaker 3: The stock has dropped thirty three percent this year. And again,

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Speaker 3: what our investors worried about AI disrupting this company. So

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Speaker 3: the company did say though that it's going to step

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Speaker 3: up its investment in AI and they're going to sacrifice

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Speaker 3: some degree of monetization in order to accelerate user growth

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Speaker 3: and engagement. They want to double the current number of

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Speaker 3: daily active users to one hundred million by twenty twenty eight.

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Speaker 3: So lofty goals for the little green owl mascot at

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Speaker 3: Duo Lingo.

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Speaker 4: I think if you want to learn a language, you's

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Speaker 4: got a parashut yourself into some tiny town in a

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Speaker 4: little arctic ever country.

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Speaker 3: You want to know the best way to learn it,

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Speaker 3: speak it, surround immerse yourself in it, which is hard

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Speaker 3: as you do.

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Speaker 2: I know this stock movers report from Bloomberg Radio. Check

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Speaker 2: back with us throughout the day for the latest roundup.

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Speaker 2: Of companies making news on Wall Street, and for the

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Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live. Catch

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