WEBVTT - Cybersecurity Bounces Back, Sysco Sinks, Fannie and Freddie Surges

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Mover's Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Carol Masser along with Tim Stanovich. Let's get to

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<v Speaker 1>some stocks and move on this Monday. Bloomberg Equities reporter

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<v Speaker 1>Avalon Pernel is in the house with us, and she's

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<v Speaker 1>going to start with the tech name.

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<v Speaker 2>Hello, Hello, I sure am Paulo.

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<v Speaker 3>Alto network setsticker PANW closed up about five percent today

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<v Speaker 3>for its biggest sleep since April. That's after its CEO

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<v Speaker 3>decided to buy about ten million dollars in shares some

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<v Speaker 3>insider buying. Oh yeah, oh yeah, And Baird says that

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<v Speaker 3>they are seeing this as a very high signal vote

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<v Speaker 3>of confidence in a market that's been over rotating on

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<v Speaker 3>AI headlines, which we already know. Software has been very

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<v Speaker 3>sensitive to anything in AI related trading, and so yeah,

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<v Speaker 3>it brought at least a little bit of positivity to

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<v Speaker 3>the software space.

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<v Speaker 1>It's down sixteen percent year today.

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<v Speaker 4>Correct sounds down thirty percent from buys in October.

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<v Speaker 1>Hate to be a bummer, but right, but that's that's.

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<v Speaker 4>The AI question or the AI story is like, what's

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<v Speaker 4>the effect of you know AI, of the AI revolution

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<v Speaker 4>on a software company like Palo Alton.

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<v Speaker 1>And their infrastructure, their security, their you know, data applicate.

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<v Speaker 1>Like yeah, so that's they're in the nitty gritty of it,

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<v Speaker 1>but you know, plays into that whole bigger picture where

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<v Speaker 1>shall we go next.

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<v Speaker 3>Cisco ticker s y Y fell fifteen percent at the

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<v Speaker 3>closing BIL for its worst one day drop since twenty twenty.

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<v Speaker 3>That's after the food distributor said that it plans to

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<v Speaker 3>acquire Jetro restaurant depot for about twenty nine billion dollars.

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<v Speaker 3>Important to note that investors were not really happy about

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<v Speaker 3>how much debt was related to this deal. They're planning

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<v Speaker 3>to raise about twenty one billion dollars in debt to

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<v Speaker 3>fund the acquisition. Definitely is a lot, and the deal

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<v Speaker 3>will create one of the largest food distributors in the country.

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<v Speaker 3>But Wells Fargo is writing that they believe it's overdion.

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<v Speaker 1>Ah, did they talk about whether or not like airline

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<v Speaker 1>food gets better.

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<v Speaker 4>That's onclear well The market cap as of now is

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<v Speaker 4>thirty three point one billion dollars for thirty three point

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<v Speaker 4>two billion dollars for Cisco Corporation. So this is a

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<v Speaker 4>pretty big acquisition.

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<v Speaker 1>Is there no anti trust concerns? Because these are two

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<v Speaker 1>big companies like getting together. And I'm not quite sure

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<v Speaker 1>who else plays in the space because they do it

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<v Speaker 1>for rest. Really they do it airlines like lots of

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<v Speaker 1>different things.

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<v Speaker 4>I'm just curious.

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<v Speaker 3>Restaurants, Yeah, random grocery stores, you know, et cetera. Very

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<v Speaker 3>like a lot of different places. I will say it

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<v Speaker 3>wasn't really mentioned in notes, but I would also be

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<v Speaker 3>something I would ask as well.

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<v Speaker 1>I didn't see it anywhere either, so it's kind of

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<v Speaker 1>interesting to see. Yeah, all right, so it's out there.

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<v Speaker 1>You didn't answer where our airline food is going to

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<v Speaker 1>get better?

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<v Speaker 4>I do?

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<v Speaker 1>Now, what do we do when we're running for a plane,

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<v Speaker 1>like when we're work and we're traveling together, Well, like

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<v Speaker 1>gott to get some food before we get on the plane.

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<v Speaker 4>Sometimes sometimes I'll get the food.

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<v Speaker 1>No, you always will buy a meal like inhale it,

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<v Speaker 1>eat it, and then we get on the plane and

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<v Speaker 1>I'm like, you know, snuggling into my little blanket and

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<v Speaker 1>getting ready to like watch a movie or whatever, and

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<v Speaker 1>then you're like like are you eating again? Yeah? I

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<v Speaker 1>kind of done with that though a lot of times

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<v Speaker 1>they say, donat on an airplane, you're gulping air and

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<v Speaker 1>it creates tummy shoes and things.

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<v Speaker 4>I'm not doing that. That's not what I'm thinking. I'm

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<v Speaker 4>thinking it's just the sodium content in that food. I'm

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<v Speaker 4>always so thirsty after and I'm like, yeah, it's so

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<v Speaker 4>you know, it's so high and salt, you know, Performance

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<v Speaker 4>Food Group, Gordon's Food Service or other.

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<v Speaker 1>Oh, so there are a few others, all right, I

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<v Speaker 1>have no easy segue, so let's get to it. Fanny

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<v Speaker 1>May and Freddy Mack.

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<v Speaker 3>Yes, Fanny May ticker FNMA and Freddie Mac tick her FMCC.

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<v Speaker 3>Both of them were on a tear today. Fanny Mack

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<v Speaker 3>jumped fifty one percent into the close and Freddy Mack

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<v Speaker 3>was up forty seven percent, both notching very very high.

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<v Speaker 3>I mean, Fanny May was up for its best day

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<v Speaker 3>since two thousand and nine. That's after Pershing squares Bill

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<v Speaker 3>Ackman called them stupidly cheap in a post on x

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<v Speaker 3>We already know. Once he says something about those stocks,

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<v Speaker 3>they tend to go up quite a bit. Keep in mind,

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<v Speaker 3>both of these trade, you know, over the counter, so

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<v Speaker 3>they're often quite volatile, but still a big move and

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<v Speaker 3>he owns them.

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<v Speaker 4>True, he doesn't have a stay.

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<v Speaker 1>I think he was as of last year. Wasn't he

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<v Speaker 1>like the biggest shareholder or something like that in these names.

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<v Speaker 1>I'm just pulling it up here.

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<v Speaker 4>Yeah, Pershing Square in Fanny May, he's the number of

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<v Speaker 4>Pershing Square Capital Management LP is the number one holder.

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<v Speaker 1>Single biggest private sector shareholder of the two companies at

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<v Speaker 1>the end of last year. Yeah. Okay, it's good stuff though,

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<v Speaker 1>but big moves, right, you definitely saw them. She still

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<v Speaker 1>did an answer. If you're herline food, it's going to

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<v Speaker 1>get better.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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<v Speaker 2>the Bloomberg Business app. Mm hmm