WEBVTT - Closing Bell: Amer Sports Rises, Cisco Dips, Chewy Sinks

0:00:02.520 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:10.080 --> 0:00:13.520
<v Speaker 2>This is the closing bell on this stock movers report.

0:00:13.760 --> 0:00:16.720
<v Speaker 2>The company's making moves at the close of US trading

0:00:16.880 --> 0:00:21.400
<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greyfell.

0:00:22.520 --> 0:00:24.959
<v Speaker 1>All right, Well, I had one job today, okay, and

0:00:25.000 --> 0:00:31.240
<v Speaker 1>that's to do gainers and decliners. Well here's the problem.

0:00:31.360 --> 0:00:32.879
<v Speaker 1>Here's the problem. I don't know if you guys can

0:00:32.920 --> 0:00:35.599
<v Speaker 1>see that the socks has been all over the map today. Yea,

0:00:36.120 --> 0:00:37.879
<v Speaker 1>a lot of polatile. In fact, it started the day

0:00:37.880 --> 0:00:41.159
<v Speaker 1>out lower then shot higher. I was very confident just

0:00:41.280 --> 0:00:42.760
<v Speaker 1>minutes ago that it would end in the green.

0:00:43.080 --> 0:00:44.000
<v Speaker 2>Yeah, and you missed that.

0:00:44.120 --> 0:00:47.560
<v Speaker 1>I missed it. Yeah, that's okay, that's the thing. Down

0:00:47.600 --> 0:00:49.960
<v Speaker 1>two tenths of one percent. Let's talk a little bit

0:00:50.000 --> 0:00:54.160
<v Speaker 1>about amer Sports. It's the parent company of Arctic, Solomon Wilson, Armades,

0:00:54.160 --> 0:00:58.360
<v Speaker 1>Skis and more. Amber Sports shares lost a little bit

0:00:58.400 --> 0:01:00.000
<v Speaker 1>of the steam today but still finished the day higher

0:01:00.080 --> 0:01:02.600
<v Speaker 1>by one point six percent. The company actually came out

0:01:02.600 --> 0:01:05.160
<v Speaker 1>and said consumers are prioritizing their health, They're looking for

0:01:05.200 --> 0:01:09.320
<v Speaker 1>premium products and sustained demand even in an unfavorable economic climate.

0:01:09.360 --> 0:01:11.600
<v Speaker 1>So I guess we're still treating ourselves when it comes

0:01:11.600 --> 0:01:14.520
<v Speaker 1>to buying these things. The company now expects revenue to

0:01:14.560 --> 0:01:17.440
<v Speaker 1>grow to twenty to twenty two percent this year, up

0:01:17.440 --> 0:01:21.720
<v Speaker 1>from an earlier forecast of sixteen to eighteen percent, and finally,

0:01:21.840 --> 0:01:25.360
<v Speaker 1>shares of hyper Liquid Strategies. This is sort of like

0:01:25.400 --> 0:01:27.880
<v Speaker 1>a kind of a crypto shout out wonderful per is.

0:01:27.920 --> 0:01:31.560
<v Speaker 1>The closing is the ticker thirteen point six percent to

0:01:31.600 --> 0:01:35.600
<v Speaker 1>the upside. Today, the SEC is said to ready plans

0:01:35.760 --> 0:01:38.520
<v Speaker 1>for trading crypto versions of stocks. It's expected to release

0:01:38.560 --> 0:01:41.000
<v Speaker 1>the so called Innovation Exemption for token is stocks as

0:01:41.000 --> 0:01:43.039
<v Speaker 1>soon as this week. It creates a new framework for

0:01:43.080 --> 0:01:46.480
<v Speaker 1>betting on publicly traded companies. That's according to people familiar

0:01:46.520 --> 0:01:50.000
<v Speaker 1>with the matter. Now, hyper Liquid Strategies is a digital

0:01:50.040 --> 0:01:54.960
<v Speaker 1>asset treasury company ADAT, but the firm also handles twenty

0:01:54.960 --> 0:01:59.040
<v Speaker 1>four to seven PERPSE, so it's sort of looked at

0:01:59.040 --> 0:02:00.640
<v Speaker 1>as a way that you can trade twenty four to

0:02:00.640 --> 0:02:02.600
<v Speaker 1>seven right now, So Bill weld assets to him, real

0:02:02.600 --> 0:02:06.559
<v Speaker 1>world assets called diamonds. The chair exactly. Yeah, I mean, look,

0:02:06.800 --> 0:02:09.040
<v Speaker 1>I think and you just spoke to him actually this week,

0:02:09.120 --> 0:02:10.840
<v Speaker 1>right was that this week or last last week time

0:02:10.919 --> 0:02:13.760
<v Speaker 1>is an allusion to yeah, it really is, and I mean,

0:02:13.800 --> 0:02:17.160
<v Speaker 1>I don't know, you know, it seems like this idea

0:02:17.200 --> 0:02:20.200
<v Speaker 1>of twenty four to seven or tokenization of stocks is

0:02:20.240 --> 0:02:22.760
<v Speaker 1>like the next thing that all these companies are waiting

0:02:22.760 --> 0:02:24.720
<v Speaker 1>on right now is what everybody talked about FIA and

0:02:24.760 --> 0:02:27.079
<v Speaker 1>Boca and yeah, Bob Diamond, he's going all in on it.

0:02:27.760 --> 0:02:30.320
<v Speaker 3>And I'm going to start guys with Cisco Systems. What

0:02:30.400 --> 0:02:32.799
<v Speaker 3>are the companies that was at the center of the

0:02:32.880 --> 0:02:35.600
<v Speaker 3>unwind and tech that we got today it fell as

0:02:35.639 --> 0:02:39.640
<v Speaker 3>the company's CFO warned that Cisco would see quote ups

0:02:39.680 --> 0:02:42.520
<v Speaker 3>and downs with its gross profit margin as it pushes,

0:02:42.520 --> 0:02:46.040
<v Speaker 3>of course, into AI infrastructure. Shares are down two point

0:02:46.120 --> 0:02:50.400
<v Speaker 3>nine percent today. Cisco had impressed investors with its earnings

0:02:50.440 --> 0:02:53.799
<v Speaker 3>earlier this month, but now that squeeze and gross margins

0:02:53.880 --> 0:02:56.320
<v Speaker 3>is becoming worrisome. That is, of course, the percentage of

0:02:56.360 --> 0:03:00.120
<v Speaker 3>revenue that they get after production costs are deducted. It

0:03:00.120 --> 0:03:03.800
<v Speaker 3>has been a lingering concern for investors. And another company

0:03:03.800 --> 0:03:06.399
<v Speaker 3>that I am looking at is Chewy. I would think

0:03:06.440 --> 0:03:09.959
<v Speaker 3>that people's love for their pets is recession proof, for

0:03:10.000 --> 0:03:11.720
<v Speaker 3>at least that's what a lot of people said, but

0:03:11.800 --> 0:03:15.240
<v Speaker 3>apparently not. Those shares are down to their lowest level

0:03:15.520 --> 0:03:20.600
<v Speaker 3>since twenty twenty twenty four, rather nine percent on the day.

0:03:21.320 --> 0:03:24.639
<v Speaker 3>This is also after comments from that JP Morgan Tech

0:03:24.760 --> 0:03:29.280
<v Speaker 3>conference today saying that basically the pet market has been resilient,

0:03:29.520 --> 0:03:32.760
<v Speaker 3>but it's not immune to macro concerns, its CEO talking

0:03:32.800 --> 0:03:34.840
<v Speaker 3>about how they have seen a little bit of a

0:03:34.880 --> 0:03:37.440
<v Speaker 3>more more of a pullback from consumers this year.

0:03:39.120 --> 0:03:43.160
<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

0:03:43.240 --> 0:03:45.800
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:45.880 --> 0:03:48.960
<v Speaker 2>making news on Wall Street and for the latest market

0:03:49.000 --> 0:03:53.440
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:53.560 --> 0:03:57.080
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:57.120 --> 0:03:58.640
<v Speaker 2>the Bloomberg Business app.