Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers report your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's see where some stocks on the move today. We
Speaker 1: do that. Bloomberg's Matthew Griffin. Matthew, what are you looking
Speaker 1: at today? Well, Paul, I have not been traveling this week,
Speaker 1: so I've just been here watching the market, and We've
Speaker 1: got a few names that I think are worth hitting on.
Speaker 1: One is, of course, Cisco worth diving a little bit
Speaker 1: deeper into what's going on there. That stock seat ticker
Speaker 1: CSC up as much as seventeen percent today in their
Speaker 1: best day since twenty eleven, and it is the latest
Speaker 1: big stock move in the wake of AI related layoff.
Speaker 1: Cisco says that they are cutting no more than four
Speaker 1: thousand jobs, about five percent of their workforce, to give
Speaker 1: them the focus and urgent see that they need to
Speaker 1: win in the AI era. They are going to at
Speaker 1: the same time be making investments in things like silicon chips.
Speaker 1: The networking equipment company is seeing orders grow from these
Speaker 1: hyperscaler customers, the companies that run the largest data centers.
Speaker 1: So I would compare this maybe to something like Meta
Speaker 1: cutting jobs as it invests even more in AI and
Speaker 1: being rewarded by investors for it is the job cutting
Speaker 1: just to free up money to invest more in AI.
Speaker 1: This is what it seems like. This is not something like,
Speaker 1: for example, a block which says we are going to
Speaker 1: actually have each worker be more productive because of AI.
Speaker 1: It seems like they potentially are they want to direct
Speaker 1: their cash flow elsewhere. That seems like the implication as
Speaker 1: you read the blog post announcing this, all right, what's
Speaker 1: the next one. I've also been looking at another AI
Speaker 1: linked name, Legiance. This has been one of these sort
Speaker 1: of high flying AI related industrial names, but it seems
Speaker 1: like the rally might be stalling out there. That stock
Speaker 1: ticker LGN down about five percent, even after the engineering
Speaker 1: company raised guidance for revenue and profit this year. This
Speaker 1: company does installation and maintenance for things like HVAC systems
Speaker 1: they sell to data centers. That stock, though it was
Speaker 1: up more than two hundred and fifty percent from its
Speaker 1: September IPO, and it seems like I was going through
Speaker 1: Analyst notes a lot of positivity there, but it seems
Speaker 1: like investors don't see a reason to bid the stock
Speaker 1: even higher from here, all right? Last one bullish Bullish.
Speaker 1: The latest crypto company to have a disappointing reaction to
Speaker 1: its earnings. The Cryptocurrency Exchange reported a widening loss per
Speaker 1: share three dollars eighty five cents compared to three dollars
Speaker 1: five cents in the quarter, digital asset sales falling, and
Speaker 1: they attributed it, like a lot of companies, to falling
Speaker 1: bitcoin prices. That's ticker BLSH down eleven percent today.
Speaker 2: This 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 and for the latest market moving headlines.
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