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This is the closing bell on the stock movers report the company's making moves at the close of US trading, with Carol Masser, Tim Stenoveek, Romain Bostik, and Katie Greifel.
All right, let's go through some of the individual gainers if I may, And no surprise, I'm going to start with that big IPO Serebris that went up what was it, one hundred and eight percent at its highs today, finishing the day with a game of about sixty eight percent. Yes, you could say some money left on the table, but a very strong IPO. We know it was oversubscribed. I mean,
pick your superlative. And I've got to say all my gainers have kind of an AI component to them, so Cerebras jumping as you know, trading debut at raise five and a half billion, market cap is way above that on upsized, hotly anticipated IPO, this year's largest so far first time share sales raizy nearly sixty percent more than its target when it launched. And again, like I said, above the marketed range and so on and so forth. So we should point out that our ed Ludlow did
talk to the CEO, Andrew Feldman. He talked about the IPO was more than twenty five times oversubscribed. He said the company's prepared to work on further developing its unique AI computing, aiming to take a place among the leading providers of technology in the lucrative market. So a lot there, and I highly recommend that you check out that interview.
I said there was kind of an AI theme. So let's flip it on over to Cisco, your number one gainer in the NASDAQ one hundred m the S and P five hundred today up more than thirteen percent, jumping by the most in more than fourteen years. The company did deliver a better than anticipated sales forecast and announced plans to cut thousands of jobs and attempt to focus
on the fast growing AI market. The company also announcing those layoffs will affect more than four thousand jobs, or fewer than four thousand, I should say, and the reductions will result in as much as a billion dollars in severance costs an other one time expense. I'm talking tech, and I know we've got another tech name crossing the.
Two applied materials. These numbers crossing now second quarter net sales coming in heavier than expectations seven point nine to one billion dollars. The estimate had been for seven point sixty seven billion dollars. When it comes to second quarter adjusted EPs coming in just about at expectations two dollars and eighty six cents. But the reason that you see the stock climbing after hours right now has to do
with their third quarter net sales forecast. They see that figure between eight point four five billion dollars to nine point four to five billion dollars, so a billion dollar range there. The estimate though had been for eight point one five billion dollars, so boosting that outlook for their net sales, and you can see that's boosting the stock. This was a Stockharrell that was higher by seventy eighty percent year today through today's close, so the bar was high as well.
Yeah.
Absolutely, but looking like at least initially we'll see what happens on the call, that it might gain certainly into tomorrow session, certainly gaining in the aftermarket. Hey, I'm going to go back to one more that also has a little bit of an AI slant to it, and we're talking about Ford Ford up about six point six percent today, the rally in this name continuing for a second day. I think it's a two day gain of about twenty percent.
Enthusiasm for Ford's Pivotory energy storage the latest sign that investors are eager to embrace companies that stand to benefit from power hungry data centers. Remember companies investing two billion to get into the energy storage business, which includes producing large energy sales for the storage business. You did have one analyst make a call yesterday over at Morgan Stanley who kind of sparked the enthusiasm in this story or this narrative. But another one, and I know, Tim, you
pointed this out. Dan Levy over at Barclay's put a note out today. He cautioned that the automaker must still deliver on the promises that it's making in this bet, but nonetheless, investors buying in again, rallying big time for a second day.
Here, Tim, Well, the cars drive themselves.
I don't know, one can only hope.
Okay, let's talk a little bit about some stocks that fell today. Boeing shares down four point seven percent. This came after China agreed to buy two hundred planes from the company. It's a multi billion dollar deal with Mark, the nation's first purchase of US made commercial debts in close to a decade. Two hundred sounds like a lot, but not when analysts were expecting five hundred seven thirty seven max to be ordered from Chinese airlines as well
as some wide body aircraft as well. George Ferguson over at Bloomberg Intelligence said that in order for two hundred jets quote is a disappointment for a market looking for three hundred or more and details around the type. China has only placed orders for thirty nine Bowing planes this decade. So if it is carried through, and that's an important part of the conversation, if it is carried through, it could mean a return to buying from the US, according to Bloomberg Intelligence.
All right, wellesh got an application software company Figma reporting some results here after the close. Just real quickly, I'm going to go to the OUTLOOKSIS second quarter revenue three hundred and forty eight million to three hundred and fifty d million, folks, That is above what the street was forecasting of three twenty nine point seven. Go backwards to the quarter that was first quarter revenue that two came in better than forecast three hundred and thirty three point
four million street estimate three hundred and sixteen million. And yeah, the company seeing fiscal year revenue one point forty two to one point forty three billion. That two is fairly above the street estimate of one point thirty seven to one point thirty seven to one point thirty seven billion. That's not a range, folks, that's just a number. And nonetheless, Figma is up about almost twenty percent here in the app market.
Yeah, I mean, but remember, don't forget it. Back in August, Figma was out one hundred and twenty two dollars a share, and you know that Adobe was going to buy it before it went public. There were concerns about now about like what AI could do yeah to this business, and it's been on a steady moved down since then. So yeah, some good news for Figma here, but broadly speaking, still off of those highs from last year.
Twenty two percent of the float is short, so investors could be doing possibly some short covering as a result.
All right, let's get to some of the other decliners on the day today. Doc Simity shares taking a hit. This is the healthcare software firm. You may have used the firm to communicate with doctors remotely, in fact, maybe send a messages or even do remote appointments. Shares down twenty three percent today, gave a full year forecast. It was weaker than expected. AI investments pressuring at the company's earnings.
JP Morgan lowered its price target, has did Goldman, Sachs, Truest, Wells, Fargo, Bimo, RBC, Mazuho, among others, also lowered their price targets, and finally, shares of Wolverine Worldwide, known for those Wolverine ten thousand mile boots Katie, but also Chaco's Sockeny, Meryl Sweaty, Betty Wow as well. Shares fell by two percent today. The footwear and apparel maker reporter first quarter profits and revenue that topped Wall Street estimates, though it issued what Bloomberg Intelligence
called a quote cautious outlook. We're Wolverine Worldwide shares down two percent, and.
Of course that's follows Birkenstock yesterday that they wipeout that we saw for their shares down about thirteen percent. But let's talk about the bond market. I'm going to do my best. Romaine Bostic impersonation here because you take a look at what happened in yield today, a little bit of divergence, but really a quiet day overall. We know that it's been a very dramatic time in the bond market. We saw that big sell off yesterday, especially at the
long end, but pretty quiet today. You could call that unchanged. But the absolute levels that we're talking about, I mean, nearly four and a half percent for the ten year treasure yield, above five percent for the thirty year yield, it's pretty amazing.
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.