Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: This is the closing bell on the stock movers report
Speaker 2: the company's making moves at the close of US trading,
Speaker 2: with Carol Masser, Tim Stenoveek, Romain Bostik, and Katie Greifel.
Speaker 1: All right, let's go through some of the individual gainers
Speaker 1: if I may, And no surprise, I'm going to start
Speaker 1: with that big IPO Serebris that went up what was it,
Speaker 1: one hundred and eight percent at its highs today, finishing
Speaker 1: the day with a game of about sixty eight percent. Yes,
Speaker 1: you could say some money left on the table, but
Speaker 1: a very strong IPO. We know it was oversubscribed. I mean,
Speaker 1: pick your superlative. And I've got to say all my
Speaker 1: gainers have kind of an AI component to them, so
Speaker 1: Cerebras jumping as you know, trading debut at raise five
Speaker 1: and a half billion, market cap is way above that
Speaker 1: on upsized, hotly anticipated IPO, this year's largest so far
Speaker 1: first time share sales raizy nearly sixty percent more than
Speaker 1: its target when it launched. And again, like I said,
Speaker 1: above the marketed range and so on and so forth.
Speaker 1: So we should point out that our ed Ludlow did
Speaker 1: talk to the CEO, Andrew Feldman. He talked about the
Speaker 1: IPO was more than twenty five times oversubscribed. He said
Speaker 1: the company's prepared to work on further developing its unique
Speaker 1: AI computing, aiming to take a place among the leading
Speaker 1: providers of technology in the lucrative market. So a lot there,
Speaker 1: and I highly recommend that you check out that interview.
Speaker 1: I said there was kind of an AI theme. So
Speaker 1: let's flip it on over to Cisco, your number one
Speaker 1: gainer in the NASDAQ one hundred m the S and
Speaker 1: P five hundred today up more than thirteen percent, jumping
Speaker 1: by the most in more than fourteen years. The company
Speaker 1: did deliver a better than anticipated sales forecast and announced
Speaker 1: plans to cut thousands of jobs and attempt to focus
Speaker 1: on the fast growing AI market. The company also announcing
Speaker 1: those layoffs will affect more than four thousand jobs, or
Speaker 1: fewer than four thousand, I should say, and the reductions
Speaker 1: will result in as much as a billion dollars in
Speaker 1: severance costs an other one time expense. I'm talking tech,
Speaker 1: and I know we've got another tech name crossing the.
Speaker 3: Two applied materials. These numbers crossing now second quarter net
Speaker 3: sales coming in heavier than expectations seven point nine to
Speaker 3: one billion dollars. The estimate had been for seven point
Speaker 3: sixty seven billion dollars. When it comes to second quarter
Speaker 3: adjusted EPs coming in just about at expectations two dollars
Speaker 3: and eighty six cents. But the reason that you see
Speaker 3: the stock climbing after hours right now has to do
Speaker 3: with their third quarter net sales forecast. They see that
Speaker 3: figure between eight point four five billion dollars to nine
Speaker 3: point four to five billion dollars, so a billion dollar
Speaker 3: range there. The estimate though had been for eight point
Speaker 3: one five billion dollars, so boosting that outlook for their
Speaker 3: net sales, and you can see that's boosting the stock.
Speaker 3: This was a Stockharrell that was higher by seventy eighty
Speaker 3: percent year today through today's close, so the bar was
Speaker 3: high as well.
Speaker 2: Yeah.
Speaker 1: Absolutely, but looking like at least initially we'll see what
Speaker 1: happens on the call, that it might gain certainly into
Speaker 1: tomorrow session, certainly gaining in the aftermarket. Hey, I'm going
Speaker 1: to go back to one more that also has a
Speaker 1: little bit of an AI slant to it, and we're
Speaker 1: talking about Ford Ford up about six point six percent today,
Speaker 1: the rally in this name continuing for a second day.
Speaker 1: I think it's a two day gain of about twenty percent.
Speaker 1: Enthusiasm for Ford's Pivotory energy storage the latest sign that
Speaker 1: investors are eager to embrace companies that stand to benefit
Speaker 1: from power hungry data centers. Remember companies investing two billion
Speaker 1: to get into the energy storage business, which includes producing
Speaker 1: large energy sales for the storage business. You did have
Speaker 1: one analyst make a call yesterday over at Morgan Stanley
Speaker 1: who kind of sparked the enthusiasm in this story or
Speaker 1: this narrative. But another one, and I know, Tim, you
Speaker 1: pointed this out. Dan Levy over at Barclay's put a
Speaker 1: note out today. He cautioned that the automaker must still
Speaker 1: deliver on the promises that it's making in this bet,
Speaker 1: but nonetheless, investors buying in again, rallying big time for
Speaker 1: a second day.
Speaker 4: Here, Tim, Well, the cars drive themselves.
Speaker 1: I don't know, one can only hope.
Speaker 4: Okay, let's talk a little bit about some stocks that
Speaker 4: fell today. Boeing shares down four point seven percent. This
Speaker 4: came after China agreed to buy two hundred planes from
Speaker 4: the company. It's a multi billion dollar deal with Mark,
Speaker 4: the nation's first purchase of US made commercial debts in
Speaker 4: close to a decade. Two hundred sounds like a lot,
Speaker 4: but not when analysts were expecting five hundred seven thirty
Speaker 4: seven max to be ordered from Chinese airlines as well
Speaker 4: as some wide body aircraft as well. George Ferguson over
Speaker 4: at Bloomberg Intelligence said that in order for two hundred
Speaker 4: jets quote is a disappointment for a market looking for
Speaker 4: three hundred or more and details around the type. China
Speaker 4: has only placed orders for thirty nine Bowing planes this decade.
Speaker 4: So if it is carried through, and that's an important
Speaker 4: part of the conversation, if it is carried through, it
Speaker 4: could mean a return to buying from the US, according
Speaker 4: to Bloomberg Intelligence.
Speaker 1: All right, wellesh got an application software company Figma reporting
Speaker 1: some results here after the close. Just real quickly, I'm
Speaker 1: going to go to the OUTLOOKSIS second quarter revenue three
Speaker 1: hundred and forty eight million to three hundred and fifty
Speaker 1: d million, folks, That is above what the street was
Speaker 1: forecasting of three twenty nine point seven. Go backwards to
Speaker 1: the quarter that was first quarter revenue that two came
Speaker 1: in better than forecast three hundred and thirty three point
Speaker 1: four million street estimate three hundred and sixteen million. And yeah,
Speaker 1: the company seeing fiscal year revenue one point forty two
Speaker 1: to one point forty three billion. That two is fairly
Speaker 1: above the street estimate of one point thirty seven to
Speaker 1: one point thirty seven to one point thirty seven billion.
Speaker 1: That's not a range, folks, that's just a number. And nonetheless,
Speaker 1: Figma is up about almost twenty percent here in the
Speaker 1: app market.
Speaker 4: Yeah, I mean, but remember, don't forget it. Back in August,
Speaker 4: Figma was out one hundred and twenty two dollars a share,
Speaker 4: and you know that Adobe was going to buy it
Speaker 4: before it went public. There were concerns about now about
Speaker 4: like what AI could do yeah to this business, and
Speaker 4: it's been on a steady moved down since then. So yeah,
Speaker 4: some good news for Figma here, but broadly speaking, still
Speaker 4: off of those highs from last year.
Speaker 1: Twenty two percent of the float is short, so investors
Speaker 1: could be doing possibly some short covering as a result.
Speaker 4: All right, let's get to some of the other decliners
Speaker 4: on the day today. Doc Simity shares taking a hit.
Speaker 4: This is the healthcare software firm. You may have used
Speaker 4: the firm to communicate with doctors remotely, in fact, maybe
Speaker 4: send a messages or even do remote appointments. Shares down
Speaker 4: twenty three percent today, gave a full year forecast. It
Speaker 4: was weaker than expected. AI investments pressuring at the company's earnings.
Speaker 4: JP Morgan lowered its price target, has did Goldman, Sachs, Truest, Wells, Fargo, Bimo, RBC, Mazuho,
Speaker 4: among others, also lowered their price targets, and finally, shares
Speaker 4: of Wolverine Worldwide, known for those Wolverine ten thousand mile
Speaker 4: boots Katie, but also Chaco's Sockeny, Meryl Sweaty, Betty Wow
Speaker 4: as well. Shares fell by two percent today. The footwear
Speaker 4: and apparel maker reporter first quarter profits and revenue that
Speaker 4: topped Wall Street estimates, though it issued what Bloomberg Intelligence
Speaker 4: called a quote cautious outlook. We're Wolverine Worldwide shares down
Speaker 4: two percent, and.
Speaker 3: Of course that's follows Birkenstock yesterday that they wipeout that
Speaker 3: we saw for their shares down about thirteen percent. But
Speaker 3: let's talk about the bond market. I'm going to do
Speaker 3: my best. Romaine Bostic impersonation here because you take a
Speaker 3: look at what happened in yield today, a little bit
Speaker 3: of divergence, but really a quiet day overall. We know
Speaker 3: that it's been a very dramatic time in the bond market.
Speaker 3: We saw that big sell off yesterday, especially at the
Speaker 3: long end, but pretty quiet today. You could call that unchanged.
Speaker 3: But the absolute levels that we're talking about, I mean,
Speaker 3: nearly four and a half percent for the ten year
Speaker 3: treasure yield, above five percent for the thirty year yield,
Speaker 3: it's pretty amazing.
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
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