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: I'm Carol Masser along with Tim Stanback. Let's get to
Speaker 1: some stocks on the move, a bunch of earnings after
Speaker 1: the closing bell with us is Bloomberg News Crosss Reporter
Speaker 1: de needsa Sikova and let's start with Corey. The stock
Speaker 1: bouncing around, but it's down more than one percent here
Speaker 1: in the aftermarket.
Speaker 3: Yeah, ticker is CRWV. Initially very strong report, that's why
Speaker 3: we saw reaction there. But what investors seems to be
Speaker 3: worried about is narrow profit margins. In the third quarter,
Speaker 3: we're talking about operating income margin of four percent and Alice,
Speaker 3: we're expecting six point five percent. This is a very
Speaker 3: interesting company that has been on a crazy rally since
Speaker 3: it ipield. It actually since August, since the last earnings
Speaker 3: report we get, it's been in a cell off mode.
Speaker 3: So again this report, which the revenue was very strong.
Speaker 3: It rose to one point thirty six billion, topping estimates.
Speaker 3: The reported loss was lower than one aalysts were expecting
Speaker 3: overall strong report, but this wasn't enough to bring the
Speaker 3: sentiment after Obviously last week AI, the AI team suffered
Speaker 3: in Core with was one of the big names that
Speaker 3: was hit there, so a lot of pressure there. That said,
Speaker 3: there are a lot of partnership with Meta, it's obviously
Speaker 3: working with Nvidia. Microsoft accounts were seventy one percent of
Speaker 3: Core with its revenue, so a lot of optimism from analysts,
Speaker 3: but pretty high valuation still, so the investors are punishing
Speaker 3: the margin.
Speaker 1: All right, So let's talk about Paramount Skuidance sticker PSKY.
Speaker 1: It is rallying about four and a half percent higher
Speaker 1: in the aftermarket, but it was up I think as
Speaker 1: much as ten nine or ten percent here.
Speaker 3: Yeah, it rallied as much as ten percent. It's coming
Speaker 3: off reporting financial resorts for the first time since the
Speaker 3: new investor took over. It's coming off cost cutting measures.
Speaker 3: So this is really obviously bad news for workers. Sixteen
Speaker 3: hundred jobs are going to be cut as part of this.
Speaker 3: The number is three billion in cost saving this year.
Speaker 3: They're increasing that number for third quarter. Paramount reported revenue
Speaker 3: of about six point seven billion, below analysts forecasts. But
Speaker 3: clearly investors are reacting to those cost cutting measures. Of course,
Speaker 3: David Ellison combines Guidience Media with Paramount. In August eight
Speaker 3: billion merger really some of the big ones we've seen lately.
Speaker 3: The company is eliminating jobs, racing to sign deals, and
Speaker 3: some of the cost cutting measures are cross Argentina, Chili
Speaker 3: and other regions.
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