Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Mover's 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 Stanovich. Let's get to
Speaker 1: some stocks and move on this Monday. Bloomberg Equities reporter
Speaker 1: Avalon Pernel is in the house with us, and she's
Speaker 1: going to start with the tech name.
Speaker 2: Hello, Hello, I sure am Paulo.
Speaker 3: Alto network setsticker PANW closed up about five percent today
Speaker 3: for its biggest sleep since April. That's after its CEO
Speaker 3: decided to buy about ten million dollars in shares some
Speaker 3: insider buying. Oh yeah, oh yeah, And Baird says that
Speaker 3: they are seeing this as a very high signal vote
Speaker 3: of confidence in a market that's been over rotating on
Speaker 3: AI headlines, which we already know. Software has been very
Speaker 3: sensitive to anything in AI related trading, and so yeah,
Speaker 3: it brought at least a little bit of positivity to
Speaker 3: the software space.
Speaker 1: It's down sixteen percent year today.
Speaker 4: Correct sounds down thirty percent from buys in October.
Speaker 1: Hate to be a bummer, but right, but that's that's.
Speaker 4: The AI question or the AI story is like, what's
Speaker 4: the effect of you know AI, of the AI revolution
Speaker 4: on a software company like Palo Alton.
Speaker 1: And their infrastructure, their security, their you know, data applicate.
Speaker 1: Like yeah, so that's they're in the nitty gritty of it,
Speaker 1: but you know, plays into that whole bigger picture where
Speaker 1: shall we go next.
Speaker 3: Cisco ticker s y Y fell fifteen percent at the
Speaker 3: closing BIL for its worst one day drop since twenty twenty.
Speaker 3: That's after the food distributor said that it plans to
Speaker 3: acquire Jetro restaurant depot for about twenty nine billion dollars.
Speaker 3: Important to note that investors were not really happy about
Speaker 3: how much debt was related to this deal. They're planning
Speaker 3: to raise about twenty one billion dollars in debt to
Speaker 3: fund the acquisition. Definitely is a lot, and the deal
Speaker 3: will create one of the largest food distributors in the country.
Speaker 3: But Wells Fargo is writing that they believe it's overdion.
Speaker 1: Ah, did they talk about whether or not like airline
Speaker 1: food gets better.
Speaker 4: That's onclear well The market cap as of now is
Speaker 4: thirty three point one billion dollars for thirty three point
Speaker 4: two billion dollars for Cisco Corporation. So this is a
Speaker 4: pretty big acquisition.
Speaker 1: Is there no anti trust concerns? Because these are two
Speaker 1: big companies like getting together. And I'm not quite sure
Speaker 1: who else plays in the space because they do it
Speaker 1: for rest. Really they do it airlines like lots of
Speaker 1: different things.
Speaker 4: I'm just curious.
Speaker 3: Restaurants, Yeah, random grocery stores, you know, et cetera. Very
Speaker 3: like a lot of different places. I will say it
Speaker 3: wasn't really mentioned in notes, but I would also be
Speaker 3: something I would ask as well.
Speaker 1: I didn't see it anywhere either, so it's kind of
Speaker 1: interesting to see. Yeah, all right, so it's out there.
Speaker 1: You didn't answer where our airline food is going to
Speaker 1: get better?
Speaker 4: I do?
Speaker 1: Now, what do we do when we're running for a plane,
Speaker 1: like when we're work and we're traveling together, Well, like
Speaker 1: gott to get some food before we get on the plane.
Speaker 4: Sometimes sometimes I'll get the food.
Speaker 1: No, you always will buy a meal like inhale it,
Speaker 1: eat it, and then we get on the plane and
Speaker 1: I'm like, you know, snuggling into my little blanket and
Speaker 1: getting ready to like watch a movie or whatever, and
Speaker 1: then you're like like are you eating again? Yeah? I
Speaker 1: kind of done with that though a lot of times
Speaker 1: they say, donat on an airplane, you're gulping air and
Speaker 1: it creates tummy shoes and things.
Speaker 4: I'm not doing that. That's not what I'm thinking. I'm
Speaker 4: thinking it's just the sodium content in that food. I'm
Speaker 4: always so thirsty after and I'm like, yeah, it's so
Speaker 4: you know, it's so high and salt, you know, Performance
Speaker 4: Food Group, Gordon's Food Service or other.
Speaker 1: Oh, so there are a few others, all right, I
Speaker 1: have no easy segue, so let's get to it. Fanny
Speaker 1: May and Freddy Mack.
Speaker 3: Yes, Fanny May ticker FNMA and Freddie Mac tick her FMCC.
Speaker 3: Both of them were on a tear today. Fanny Mack
Speaker 3: jumped fifty one percent into the close and Freddy Mack
Speaker 3: was up forty seven percent, both notching very very high.
Speaker 3: I mean, Fanny May was up for its best day
Speaker 3: since two thousand and nine. That's after Pershing squares Bill
Speaker 3: Ackman called them stupidly cheap in a post on x
Speaker 3: We already know. Once he says something about those stocks,
Speaker 3: they tend to go up quite a bit. Keep in mind,
Speaker 3: both of these trade, you know, over the counter, so
Speaker 3: they're often quite volatile, but still a big move and
Speaker 3: he owns them.
Speaker 4: True, he doesn't have a stay.
Speaker 1: I think he was as of last year. Wasn't he
Speaker 1: like the biggest shareholder or something like that in these names.
Speaker 1: I'm just pulling it up here.
Speaker 4: Yeah, Pershing Square in Fanny May, he's the number of
Speaker 4: Pershing Square Capital Management LP is the number one holder.
Speaker 1: Single biggest private sector shareholder of the two companies at
Speaker 1: the end of last year. Yeah. Okay, it's good stuff though,
Speaker 1: but big moves, right, you definitely saw them. She still
Speaker 1: did an answer. If you're herline food, it's going to
Speaker 1: get better.
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