Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: This is the closing bell on this stock movers report.
Speaker 2: The company's making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greyfell.
Speaker 1: All right, Well, I had one job today, okay, and
Speaker 1: that's to do gainers and decliners. Well here's the problem.
Speaker 1: Here's the problem. I don't know if you guys can
Speaker 1: see that the socks has been all over the map today. Yea,
Speaker 1: a lot of polatile. In fact, it started the day
Speaker 1: out lower then shot higher. I was very confident just
Speaker 1: minutes ago that it would end in the green.
Speaker 2: Yeah, and you missed that.
Speaker 1: I missed it. Yeah, that's okay, that's the thing. Down
Speaker 1: two tenths of one percent. Let's talk a little bit
Speaker 1: about amer Sports. It's the parent company of Arctic, Solomon Wilson, Armades,
Speaker 1: Skis and more. Amber Sports shares lost a little bit
Speaker 1: of the steam today but still finished the day higher
Speaker 1: by one point six percent. The company actually came out
Speaker 1: and said consumers are prioritizing their health, They're looking for
Speaker 1: premium products and sustained demand even in an unfavorable economic climate.
Speaker 1: So I guess we're still treating ourselves when it comes
Speaker 1: to buying these things. The company now expects revenue to
Speaker 1: grow to twenty to twenty two percent this year, up
Speaker 1: from an earlier forecast of sixteen to eighteen percent, and finally,
Speaker 1: shares of hyper Liquid Strategies. This is sort of like
Speaker 1: a kind of a crypto shout out wonderful per is.
Speaker 1: The closing is the ticker thirteen point six percent to
Speaker 1: the upside. Today, the SEC is said to ready plans
Speaker 1: for trading crypto versions of stocks. It's expected to release
Speaker 1: the so called Innovation Exemption for token is stocks as
Speaker 1: soon as this week. It creates a new framework for
Speaker 1: betting on publicly traded companies. That's according to people familiar
Speaker 1: with the matter. Now, hyper Liquid Strategies is a digital
Speaker 1: asset treasury company ADAT, but the firm also handles twenty
Speaker 1: four to seven PERPSE, so it's sort of looked at
Speaker 1: as a way that you can trade twenty four to
Speaker 1: seven right now, So Bill weld assets to him, real
Speaker 1: world assets called diamonds. The chair exactly. Yeah, I mean, look,
Speaker 1: I think and you just spoke to him actually this week,
Speaker 1: right was that this week or last last week time
Speaker 1: is an allusion to yeah, it really is, and I mean,
Speaker 1: I don't know, you know, it seems like this idea
Speaker 1: of twenty four to seven or tokenization of stocks is
Speaker 1: like the next thing that all these companies are waiting
Speaker 1: on right now is what everybody talked about FIA and
Speaker 1: Boca and yeah, Bob Diamond, he's going all in on it.
Speaker 3: And I'm going to start guys with Cisco Systems. What
Speaker 3: are the companies that was at the center of the
Speaker 3: unwind and tech that we got today it fell as
Speaker 3: the company's CFO warned that Cisco would see quote ups
Speaker 3: and downs with its gross profit margin as it pushes,
Speaker 3: of course, into AI infrastructure. Shares are down two point
Speaker 3: nine percent today. Cisco had impressed investors with its earnings
Speaker 3: earlier this month, but now that squeeze and gross margins
Speaker 3: is becoming worrisome. That is, of course, the percentage of
Speaker 3: revenue that they get after production costs are deducted. It
Speaker 3: has been a lingering concern for investors. And another company
Speaker 3: that I am looking at is Chewy. I would think
Speaker 3: that people's love for their pets is recession proof, for
Speaker 3: at least that's what a lot of people said, but
Speaker 3: apparently not. Those shares are down to their lowest level
Speaker 3: since twenty twenty twenty four, rather nine percent on the day.
Speaker 3: This is also after comments from that JP Morgan Tech
Speaker 3: conference today saying that basically the pet market has been resilient,
Speaker 3: but it's not immune to macro concerns, its CEO talking
Speaker 3: about how they have seen a little bit of a
Speaker 3: more more of a pullback from consumers this year.
Speaker 2: The Stock Movers 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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