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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Let's take a look at some stocks on the move today. I am Tim Statavack along with Carol Master. We're joined by Bloomberg Television Markets correspondent normal Inda.
We were both to say we need some caffeine a little bit, say who do I get to be?
If we're all swapping names exactly?
Whoever you are?
What happens here on BusinessWeek, Well, there's also a lot that's happening in the market. I'm looking at some of the individual movers. Boston Scientific the stock down for its lowest level since twenty twenty four. This is taker BSX. This is after some of the results from a trial of its Watchman heart implant. Definitely, they basically misinvestor expectations, and this is why you're releasing the stock selling off
down about nine percent right now as we speak. But Leric Partners did say that they think that the data is quote unquote not the home run scenario that some of the bulls were hoping for, So maybe falling short of some of those bullish expectations that they were expecting out of the trial. But the stock's also been pretty pressured this year. If you take a look at the action we've seen in twenty twenty six, it's down about thirty four percent so far in twenty twenty six.
Yeah, that's a big move to the downside. So yeah, is that a gainer?
Imiah added to.
The list need caffeine, We need caffeine. Let's go to a big deal Assisco, but not Cisco the tech company, but we're talking about the food services company.
And it's interesting. I was wondering how many people actually know that it's a food service its company if it's a very well known name. But yes it is.
Actually it's massive, Like I think saying food and stuff like that, right, normally comes from a company like this.
And even like offices when you get food deliveries and everything when they're giving out to you know, all the employees, it tends to come from Cisco. Yeah. Uh take your SYI s YY excuse me. Seeing its biggest drop in six years. This is after the company agreed to buy Jetro restaurant depot for roughly twenty nine bill million dollars. This including debt, and they're saying that this deal could create one of the largest food service groups in the
United States, so massive. I mean, we're looking at the stock action though. For Cisco, investors aren't really liking this news. I mean, if you take a look at what's going on with shares right now, down about fifteen percent so far today, but also looking at the action that we're seeing year to date, stock is down more than five percent.
Okay, so that is Cisco a little m and a news on this merger. Monday, I told Carol to include this next one aer Gainer's list, and Freddy she should.
I covered these super closely on equities.
They move, when they move, they move, they.
Move like crazy. But I mean they are accustomed to volatile swings, especially because they do trade over the counter, and there's a lot of retail trader action that you tend to see from Fanny May and Freddie Matt.
Okay, we're talking Fanny Man.
Yes, Fanny May take her f NMA, Freddie Mac FMCC, both of these stocks soaring. I mean, take a look at what's going on. We see Fan and we May up thirty nine percent, Freddie Mack up forty percent, so really on a tear today. But this is still after a month's long slide that we've seen from these stocks. As I mentioned before, it's not too surprising to see them making really massive swings in one direction or the other.
But just after some comments that we saw from Pershing Squares Bill Ackman, he called the stocks quote unquote stupidly cheap, and of course that did get everybody on the retail side really interested in buying the names. I mean, but even after the latest balance, it really has been a hard time for these companies that we know have been of underneath the government conservatorship since about two thousand and eight.
So it's been really this conversation as to whether or not they're actually going to IPO or if they'll return back to public markets in a more proper fashion than they are right now. But stocks are down about sixty percent from their mid September peak.
I mean, these are like tortured pseudo government no. I mean, this has been their history right right, both the back and forth.
The Stock Mover's 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.