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This is the closing bell on this stock movers report. The company's making moves at the close of US trading with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greyfell.
All right, Well, I had one job today, okay, and that's to do gainers and decliners. Well here's the problem. Here's the problem. I don't know if you guys can see that the socks has been all over the map today. Yea, a lot of polatile. In fact, it started the day out lower then shot higher. I was very confident just minutes ago that it would end in the green.
Yeah, and you missed that.
I missed it. Yeah, that's okay, that's the thing. Down two tenths of one percent. Let's talk a little bit about amer Sports. It's the parent company of Arctic, Solomon Wilson, Armades, Skis and more. Amber Sports shares lost a little bit of the steam today but still finished the day higher by one point six percent. The company actually came out and said consumers are prioritizing their health, They're looking for premium products and sustained demand even in an unfavorable economic climate.
So I guess we're still treating ourselves when it comes to buying these things. The company now expects revenue to grow to twenty to twenty two percent this year, up from an earlier forecast of sixteen to eighteen percent, and finally, shares of hyper Liquid Strategies. This is sort of like a kind of a crypto shout out wonderful per is. The closing is the ticker thirteen point six percent to the upside. Today, the SEC is said to ready plans
for trading crypto versions of stocks. It's expected to release the so called Innovation Exemption for token is stocks as soon as this week. It creates a new framework for betting on publicly traded companies. That's according to people familiar
with the matter. Now, hyper Liquid Strategies is a digital asset treasury company ADAT, but the firm also handles twenty four to seven PERPSE, so it's sort of looked at as a way that you can trade twenty four to seven right now, So Bill weld assets to him, real
world assets called diamonds. The chair exactly. Yeah, I mean, look, I think and you just spoke to him actually this week, right was that this week or last last week time is an allusion to yeah, it really is, and I mean, I don't know, you know, it seems like this idea of twenty four to seven or tokenization of stocks is like the next thing that all these companies are waiting on right now is what everybody talked about FIA and Boca and yeah, Bob Diamond, he's going all in on it.
And I'm going to start guys with Cisco Systems. What are the companies that was at the center of the unwind and tech that we got today it fell as the company's CFO warned that Cisco would see quote ups and downs with its gross profit margin as it pushes, of course, into AI infrastructure. Shares are down two point nine percent today. Cisco had impressed investors with its earnings earlier this month, but now that squeeze and gross margins
is becoming worrisome. That is, of course, the percentage of revenue that they get after production costs are deducted. It has been a lingering concern for investors. And another company that I am looking at is Chewy. I would think that people's love for their pets is recession proof, for at least that's what a lot of people said, but apparently not. Those shares are down to their lowest level since twenty twenty twenty four, rather nine percent on the day.
This is also after comments from that JP Morgan Tech conference today saying that basically the pet market has been resilient, but it's not immune to macro concerns, its CEO talking about how they have seen a little bit of a more more of a pullback from consumers this year.
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.