Bloomberg Audio Studios, podcasts, radio News.
The Stock Mover's Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carol Master along with Tim Stenvik. Let's get to Bloomberg News Equities reporter and deputy team leader for US Equities Carmen Reinigy, with a look at some stocks on the move on this Tuesday. Let's start with Boeing.
This was some map performance.
Here in the S and P five hundred.
Yeah, it was the I think top gainer today on the SMP. So it's Boeing ticker. BA shares are up ten percent today, it's best day since April ninth. The company's CFO said that it expects to generate cash again in twenty twenty six, which is a reversal from what's expected this year, which is a cash burn of about two billion dollars. So this just shows that sort of its longer turn turnaround is sort of gaining traction, doing
a little bit better. This was also one of the first times I think this new CFO has been able to speak. He spoke today at an investor conference.
Yeah. Pretty significant, right, because they have had. They've been burning through cash in a significant way. So to see this turnaround is pretty significant.
Okay, now can we talk a little American bitcoin.
You can do whatever you want, Tim Stanmer, this.
Was a wild opening to the day. This company saw its trading halted.
Yeah, it was crazy. So this is ticker ABTC shares plunged thirty nine percent, a lot of volatility, you know, halted all of that. So what happened is basically they freed up restriction restricted shares to be traded. So this is actually really common when we see stocks have a lock up period end all of a sudden, there's more liquidity. Some early into they.
Drop almost forty percent.
Well forty percent is a lot, but you know, early investors want to maybe take some of their profits. Just yeah, more liquidity hits the market, so that just more trading can happen. But this stock, it's been very eaten down. It's actually up about nine percent on the year, but if you zoom out, it's fallen considerably over the last few years.
And it just and it had that spack merger right it was I don't remember if it was a Spack or I don't quote me on this, well.
It merged with Griffin Digital Mind.
Yeah, and it did that back in September, so you know, it was the stock was was sort of level until then. And that's really where you know American bitcoin when American Bitcoin was created.
I mean, it is down seventy six percent since early September.
All right, so we'll keep it eye on that one tomorrow and later in the week. Marvel Technology moving in the after hours.
So let's look at Marvel ticker mrvl so. Shares are down about four four point two percent right now. So the company announced earnings that seemed pretty okay, actually looks like mostly in line with estimates. But what investors are reacting to is that it announced plans to acquire Celestial Ai, a startup, for three point two five billion. So you know, every every company is wanting to capture more space on AI. This is Marvel's bid to do that. So it looks
like that's really what is dragging shares down. BI Bloomberk Intelligence said, you know, the two Q sales and the even the top line guidance for the third quarter is not enough to raise the near term optimism and there will be more questions surrounding Celestial AI and the purchase price.
You know, I'm looking at Celestial ais website back in August, the most recent press release, it's about closing a C A final Series C one round to accelerate its next gen AI computing. They added strategic investors, then a venture tech alliance and Samsung Catalyst fund the latest investments bringing the companies total funding up to five hundred and twenty million dollars, so more than three billion dollar acquisition. Those venture capitalists having a nice payday.
You know, what we're seeing right now is companies that can either make AI transactions chips more efficient, more productive, less energy usage. And I'm just looking at Celestial AI offers a technology called photo tonic fabric that connects components within AI infrastructure so that it relies on light to more efficiently move data, helping AI systems run more quickly. So I do feel like we're starting to see money
move into this section. We're seeing movie I should say money moving into American Eagle in the Afterno, yeah.
Let's like an American eagle. This is ticker. AEO shares are up about twelve percent right now. It just reported earnings with strong sales and a higher outlook for twenty twenty five, so they raised its outlook, pivoting from weakness earlier in the year. I think there was a little bit of a downturn. You know, they were retailers in general were hit by tariffs, and they also had you know, they got some sort of the Meme stock treatment with some of their ads. Then they had but then they
had a huge jump after the fact. So interesting to be seeing American Eagle doing well again. I mean the stock has actually done really well. I think it was the top performer, and like our a top performer in twenty twenty three, I think up on the year.
Yes, that was twenty five percent.
Year today twenty five percent, and.
From June Low's it's up one hundred and thirty three percent.
That's a run right now, forty to fifty percent off big cybersale. Oh okay, So if you need some like skinny jeans, Tim.
I thought those were out. I thought it was all about those barrel.
Jeans, the wide leg Yeah, thank you.
I can't like, I still can't get my head around them.
The 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.