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This is the closing bell on this stock mover's report. The company's making moves at the close of US trading with Carol Masser, Tim Stenovack, Romaine Bostik, and Katie Greyfeller.
All right, guys, let's get to some of the individual gainers in today's session. I love this story. Tim and I were just talking about it. I think it's among our most read All Birds. I don't know if you guys bought them.
We did in.
Our home.
Of those Whatever happened to those guys, whatever happened, apparently they discovered AI.
Oh cool, All Birds no longer All Sneaks. Stock is soaring in today's session.
Is that right?
It's so yeah, we're closed. That's like a typical daily move for a stock. I don't know why you're questioning that move.
Call. I know, all right, nicely happens all the time. The company inked a deal to sell off its footwear as it's back in March, So now All Birds is now all in on AI. The former shoemaker just days away from ceasing operations. It's not been easy the last few years, so it would pivot its business to AI
compute infrastructure. The company executed a fifty million dollar convertible financing facility, and so they're going to fund the switch as it targets becoming a fully integrated GPU as a service, an AI native cloud solutions provider, and it's going to change the name. Yeah, werld new bird AI Cool?
Okay, cool?
Are you in on it?
They kept giving me six hundred percent increase and that it now has a market cap of one hundred and forty eight million dollars million.
No, you're not all in on.
AI.
I mean, it's a bold move, Cotton. We'll have to see where it goes.
Can I just say it does remind me of simpler times, And I'm thinking specifically of the memestock era, because this felt very me me. I felt like I was back in twenty twenty one, which was a weird time. But you saw a lot of stories.
Like this, Kaiti. We had a showback then.
I know they canceled together.
That's how long ago this was.
It's it called the meme Stock Show.
Oh kind of, but we did a lot of meme stocks.
We certainly just love that showy.
All right, let's move, all right, let's move along Snap. Let's go to Snap, guys. That was awesome.
We reboot that. I mean, if they could bring back scrubs, bring that crypto iron.
You know, scrubs. The scrubs boot was awesome. But it's not a thing for us like hurting cats.
Good thing, Carol, y, I always have something else, Okay, stock Snap up as much almost ten percent of its ties today, finishing the day with the game of about seven point eight percent. This is what happens, I guess when you lay off roughly one thousand full time employee
sixteen percent of its global workforce. As part of an effort by the CEO, Evan Spiegel to reduce costs and achieve profitability, job cuts in pullback and hiring will reduce now annualized cost base by more than five hundred million dollars by the second half of this year, according to the CEO. He said the cuts are necessary for Snap to buy three all birds. Sorry, go ahead, that's really funny.
Said the cuts are necessary for Snap to boost efficiency as it pursues profitable growth, citing improvements and AI technology that lets Snap employees move more quickly and one more for you guys, because you know three is what we're allowed to do. Hymns and hers Health. That one was up almost fourteen percent, the tele health firm climbing after HHS Secretary Robert F.
Kennedy Junior.
So the FDA is ticking to remove twelve peptides from Category two restrictions. What's the matter is that?
A laugh?
No, just down seem very interested in us.
Yeah, well he actually said I had to do it. Yeah, I actually was.
I don't know what the deal is with these peptides, like are they safe?
Well, apparently with the action that they're doing is going to restore regulated access and will immediately begin shifting demand away from the black market, according to our Secretary of christ On X. All right, you can read about it all on the Bloomberg.
I want to get to some of the stocks that were on the decline today. Live Nation in the news. This story breaking this afternoon. A New York federal jury found that Live Nation Entertainment illegally monopolized live events industry had overcharged fans. Live Nation shares finishing down by six point three percent. The jury found that Live Nations monopoly led concertgoers to overpay, and the company illegally tied the use of company owned venues to its concert promotion services.
Once again, Shares fell in today's session by six point three percent. It's the lowest that they've been since November of twenty twenty five. A couple more stories that have to do with earnings and understanding the consumer and macroeconomic conditions, starting with shares at ASML. Shares fell after the company gave a week outlook for the current quarter. Despite raising that full year salesfour the company sees net sales in the second quarter of eight point four billion to nine
billion euros. The company expects net sales to be between thirty six and forty billion euro this year, increasing production to meet demand from tech firms for its advanced lithography machine. Still that was seen as conservative. Shares down two point four percent on the day today, And finally, great ticker do us brp ink it's the parent company of seed Jet Skis Ski Do Snowmobiles, can Am off road vehicles down all day today by more than thirty five percent.
That's where it closed. The firm withdrew its financial outlook for the twenty twenty seven fiscal year. It says it faces three hundred and sixty three million dollar cost from recent changes by the Trump administration to its tariffs. We actually also saw other companies move lower in sympathy today. Polaris shares actually fell as well. You have one of these side by sides, remain one.
Of these side by seas.
Yeah, they're off road.
No, they're kind of hard to keep in an York City can. But it gets to this idea though too, when we talk about the tariff thread, and particularly some of the comments we heard from the Treasury secretary. One reason why you saw transports lower, one reason why you saw a lot of industrial stocks lower. Just real quickly, let's check in on yields before Carol gets antsy here. We did see pretty much a shift across the curve here up about two basis points on the short end,
but keep an eye on that long end. Three basis points on your ten year, three on the thirty year, and that is the big question mark going forward. Katie was referencing this earlier on the Close, the pre eminent program on Bloomberg Television, by the way, Carroll and Tim and this idea of that IMF repoard and really a lot of concerns right now about current debt levels, economic ripple effects and what type of yield investors are going to demand to hold US treasuries.
All right now more than antsy, all right, good a wrap, thank you so much. All right, that'll do it for a cross platform recalling the closing. Now, you know, it's just not the same when you're not here. So it's good to have you.
Back this stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.